Code of conduct coming soon for crypto ads - Bandhan Login - ONGC

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Bengaluru Chennai Coimbatore Hubballi Hyderabad Kochi Kolkata Madurai Malappuram Mangaluru Mumbai Noida Thiruvananthapuram Tiruchirapalli Tirupati Vijayawada Visakhapatnam

SATURDAY • DECEMBER 25, 2021

MUMBAI

₹�10 • Pages 10 • Volume 28 • Number 355

DATA FOCUS

Cricket is Bollywood’s favourite pitch.

Of the 31 sports fl�icks released in the

last 20 years, 11 were on cricket p2

THE PREFERRED PARTNER

Jonathan Hunt, MD & CEO of Syngene, explains what sets

the company apart in the competitive CRAMS space and

why it is a reliable copartner for pharma majors p10

AUTO FOCUS

BYD e6: The Chinese people’s

mover that is electrical,

yet practical p7

AYUSHI KAR

Mumbai, December 24

Private sector lender YESBank gets to vote in the Annual General Meeting ofDish TV set for December30.

The Mumbai Bench of theNational Company LawTribunal (NCLT) refused togrant any stay on a petitionfi�led by a group of shareholders seeking to restrainYES Bank from voting in theAGM.

In their oral order, members Suchitra Kanuparthiand Anuradha Bhatia saidthe Bench is “not inclinedto stay” the AGM.

The petition was fi�led bythe Authorised Representative of Shareholders of DishTV, Trilok Chand Jindal, torestrain YES Bank from voting, particularly on the resolution to reappoint certain board members.

Court on December 18, arguing that it is the owner ofthe shares of the companypresently held by YES Bank.

Roots of the conflictThe confl�ict between thelender and Dish TV startedin September this yearwhen YES Bank called forthe removal of the board ofthe directtohome TV service provider on thegrounds that it is acting atthe behest of promoters,who hold just six per cent inthe company.

Dish TV then postponedthe AGM, scheduled inSeptember, to December. Itrejected YES Bank’s requestfor an EGM. A notice wasalso fi�led against the bankby the Uttar Pradesh Policeto prevent the lender fromvoting in the AGM.

The Supreme Court rejected the UP police notice,restoring the private bank’svoting rights.

Dish TV scrip closed 4.89per cent higher at ₹�18.25apiece on BSE on Friday.

September 30, 2021 and hassought to remove theboard, including ManagingDirector Jawahar Goel.

The promoters of Dish TVhave 5.93 per cent shareholding in the company.

Battle on two fronts Dish TV has been fi�ghting abattle on two legal fronts, atthe NCLT and the BombayHigh Court, seeking to restrain YES Bank from votingin the AGM.

World Crest Advisors LLP(a Dish TV promoter entity)fi�led a suit against YES Bankand Catalyst TrusteeshipLimited in the Bombay High

The NCLT Bench heard iton Friday. It adjourned thecase to January 4.

Court’s caveatSimultaneously, the Mumbai High Court also rejectedthe Dish TV promoters’ adinterim request, and allowed YES Bank to vote atthe AGM.

The High Court order,however, comes with thecaveat that the result of theAGM will be subject to theoutcome of the fi�nal hearing, set for February 3.

YES Bank is the largestshareholder in Dish TV witha 24.78 per cent stake as on

YES Bank gets to vote at Dish TV AGM NCLT refuses to stay

petition by a

shareholders’ group

The boardroom battle

■ Dish TV AGM to be held on Dec 30

■ AGM result will be subject to the

outcome of the fi�nal hearing of

another petition in Bombay HC

■ YES Bank has sought removal of

certain members of Dish Board

■ YES Bank has 24.78 % stake, promoter group holds 5.93%

SHISHIR SINHA

New Delhi, December 24

Clubs and associations willhave to levy Goods and ServicesTax (GST) on fees collected frommembers retrospectively fromJuly 1, 2017.

Experts say this is likely torun into litigation besides creating accounting logistical issues for these institutions.

The Finance Ministry has notifi�ed January 1 as the date forimplementation of theamended Section 7 of the GSTlaw. This amendment inserted anew clause that says the expression ‘supply’ will also includeactivities or transactions by aperson, other than an individual, to its members or constituents or viceversa, for cash,deferred payment or othervaluable consideration. Thisnew clause comes into eff�ectfrom July 1, 2017.

What this means is that aclub, an association or a societyand their members will be

treated as two distinct persons.Transactions between thesetwo will be considered taxable.

Although such a provisionwas part of the schedule, someclubs, associations and societies were taking shelter underthe principle of mutuality andnot levying GST.

Their stance was bolstered bythe SupremeCourt rulingin favour ofthe assessee inthe matter ofCalcuttaSports Club.

TheJharkhandHigh Court (inthe matter of Ranchi Club) andsome Authorities for AdvanceRuling (Bowring Institute ofBangalore, etc) gave similar directives.

Litigations According to Jay Jhaveri, Partner at Bhuta Shah & Co, the Su

preme Court judgment in theCalcutta Sports Club case related to the service tax erabased on the doctrine of mutuality that states that if there areno members there will be noclub and viceversa. Hence, thedecision that clubs need notcharge, collect and pay servicetax on services rendered to

members. With the

amendmenthaving retrospective eff�ect,“this will lead tolitigations,” hesaid.

MS Mani, Partner with De

loitte India, said, “For all similarmatters in respect of periodssince July 2017, it will now bevery diffi�cult to take a plea ofmutuality of interests or supplybetween an association and itsmembers as these would nowbe treated as taxable suppliesfor GST purposes.”

Clubs, assns, societies to levy GST onmember-fee retrospectively from 2017

No Covid curbs, yet

Christmas shoppers stroll along Buchanan Street in Glasgow, Scotland, on Friday. The British government says it won’t

introduce any new coronavirus restrictions until after Christmas, and called early studies on the low severity of the

Omicron variant encouraging (Details on p10). AP

PRABHUDATTA MISHRA

SUBRAMANI RA MANCOMBU

New Delhi/Chennai, December 24

It was never meant to be an essential farm commodity thatcan have stock limits. And, evenmore surprisingly, stock limitsduring a year of ampleproduction.

But within a month of repealing the three ‘controversial’farm laws, the Centre onThursday brought soyameal —a key raw material to manufacture compound feed — underthe ambit of the Essential Commodities Act and imposedstock limits on processors andtraders with a view to increasing domestic supplies andchecking price rise.

Soyabean processors arestunned and said the government should have acted tolower soyabean prices thatwould have automaticallysoftened soyameal rates.

In two separate notifi�cations,the Consumer Aff�airs Ministry,imposing the stocks limits, said

this is prescribed till June 30,2022 for all States and UnionTerritories. Millers and processors can stock equivalent to90 days of their respective“daily input productioncapacity”.

The location of the storageshould also be declared.

Further, the Ministry saidtrading companies, traders,and private chaupals registered with the governmentcan keep a maximum stock of160 tonnes with a defi�ned anddeclared storage location.

“This is not the correct moveas soyabean processors do notstock soyameal. They cannot afford to stock fi�nished productsincurring a huge cost. Soyameal is not an item for longstorage even by traders. Howthis will help in controllingprices is not clear,” said DNPathak, Executive Director of Indorebased Soybean ProcessorsAssociation of India (SOPA).

The stock limit comes amonth after SOPA wrote to the

government seeking immediate imposition of stock limitson soyabean, and taking stepsto curb undue and excessivespeculation in soyabean futures.

“The stock limits were imposed when the crop wasfeared to be lower. This year, wehave a higher production ofsoyabean, mustard andgroundnut. But the government has imposed stock limitson soyameal surprisingly,” saidBV Mehta, Executive Director,Solvent Extractors Associationof India (SEA).

He pointed out that despite

suspension of derivatives trading in the soyabean complex,including oil and meal, andcrude palm oil, prices haverisen this week.

Poultry sector cheerfulThe government move, however, has been welcomed by thepoultry industry. “This is a welcome move because tradershad been hoarding soyameal.Poultry growers have beenbadly aff�ected as the sellingprice of live chicken is ₹�60 a kg,when the production cost is₹�90,” said Vangili Subramanian, president, Tamil

Nadu Egg Poultry Farmers Marketing Society. “Now, all feedcompanies are covered underthe Essential Commodities Actand they have to follow stocklimit guidelines. Hope inspectors will not harass these companies,” said Vijay Sardana, afood policy expert.

Under the nowrepealed EC(Amendment) Act, specifi�c foodcommodities were subject toStock Limit rules in case ofemergency situations whentheir prices surge 100 per centand 50 per cent in a certainperiod.

A trade analyst said the soyameal stock limit move was apparently aimed at stopping theprocessing of soyabean. “Thiswill lead to a rise in bean stocksand ensure prices come downto reasonable levels.

The move is also seen as astep to prepare growers formoderation in the prices of soyabean in view of record projections of the crop in Brazil thatwill arrive after February.

The curious case of stock limits on soyameal

Despite suspension of derivatives trading in the soyabean

complex, prices have risen this week

SURABHI

Mumbai, December 24

Cryptocurrency industrybody Blockchain and CryptoAssets Council (BACC) willsoon come out withguidelines for advertising aspart of a move towards a setting a code of conduct for theplayers.

Ashish Singhal, founderCEO of CoinSwitch Kuber andcoChair of BACC, said: “Weare in discussions with theAdvertising Standards Council of India on the proposedsteps for every industryplayer to take before theyopen up their advertising ingeneral.

“These discussions are ongoing and, hopefully, ourguidelines will be readywithin the next few weeks.”Singhal said the guidelinesclarify the dos and don’ts foradvertising.

KYC guidelinesThe BACC is also working on astandardised set of selfregulatory guidelines for KYC(know your customer) andcustomer education, and willmove on to issues includingFIU (Financial IntelligenceUnit) reporting and risk mon

itoring. “First is KYC. For anyuser coming on to the cryptoplatform — what are the KYCnorms? How can we standardise them to ensure thatevery player in the crypto industry follows the samestandards for onboardingtheir customers?” asked Singhal, adding that the secondset of guidelines would be oneducation.

“What are the educationguidelines that we, as an industry, need to put out? Howdo we guide users to get access to knowledge sharing exercises across the crypto domain, irrespective of thecompany which is hostingthese knowledge sessions?The idea is to collaborate toform a common platform forusers on which they can clarify any doubt on crypto,” hesaid.

Close watch on usersIn the six months to October2021, Coinswitch Kuber had

suspended close to 1,80,000accounts for malicious practices and was monitoringabout two lakh accounts onits platform for suspect activities. “We have done a lot ofcleanup of our users as wellfor various reasons and wecontinue to do that. Our riskmonitoring continues toevolve every day to ensure weare the most compliantcrypto company,” Singhalsaid.

On the deferment of the introduction of the Cryptocurrency Bill in Parliament, Singhal said that crypto is acomplex subject and anyrushed regulation may actually hurt the industry ratherthan help it. “It’s good thatthe government is taking itstime, understanding thespace and having inpersondiscussions with stakeholders to ensure they know allthe nuances of the space,rather than rushing to theregulation,” he said.

Code of conduct comingsoon for crypto adsBlockchain body

working with ASCI;

KYC and customer

education to get

top priority

The idea is to collaborate to form a common platform on which

users can clarify doubts

OUR BUREAU


The Centre will wait for the expert view to decide on Covidvaccination for children andbooster shots but focus on scaling up the pace of inoculation,with the Health Ministry on Friday impressing on 11 States toramp up their eff�ort. The Statesthat are a cause of concern areOdisha, Maharashtra, TamilNadu, Bihar, Puducherry, UttarPradesh, Meghalaya,Jharkhand, Manipur, Punjaband Nagaland. So far, India hasreported 358 Omicron cases.

“We are continuously engaging with the States to increasethe vaccination coverage. Weare on a mission mode approach to fi�ght Omicron. Statesneed to increase testing, tracking and surveillance to detectthe cases,” Health SecretaryRajesh Bhushan said. He addedthat the treatment protocolwill remain the same for Omicron as that for the Delta strain.

On the need for a boosterdose and vaccinating vaccination, Bhushan said, “In Parliament, the government had categorically said that we wouldbe governed by the scientifi�cevidence on deciding the needfor additional dose or childrenvaccination. Our stand remainsthe same. Antibody titres, Tcells behaviour and hybrid im

munity behaviour over aperiod of time will decide.”

Indian Council of Medical Research DirectorGeneral BalramBhargava said vaccination ofchildren and booster dose arebeing discussed and the government is reviewing datafrom across the world.

“There is not enough dataworldwide to show that thechildren are reacting diff�erently to Omicron. It doesn’tseem that this virus has anyspecial attachment for children. Children have been thepart and parcel of the transmission chain of SarsCoV2 in general and therefore that shouldbe factored in any decisiontaken with respect to epidemiology, etc…,” VK Paul, MemberHealth, NITI Aayog, said on theeff�ect of Omicron on children.

Night curfew in UP, M.P.With the Centre saying that localised restrictions have beenleft to the States, Uttar Pradeshand Madhya Pradesh an

nounced night curfew. “Omicron contact tracing is beingvery aggressively pursued aspart of the strategy. We are leaving it to the States that as perthe emerging situation theyhave to take decisions on thelines of framework being prepared for Covid management,”said Paul.

International travel curbsThe Centre is closely monitoring the Omicron situation forresumption of internationalfl�ights. Scheduled international fl�ight operations to andfrom India remain suspendedtill January 31, while the bubbleagreements will continue.

Ministry of Civil Aviationsources said a meeting with theUnion Health Department offi�cials was held to review the situation. “No major decision wastaken. Resumption of operations will depend on how theOmicron situation plays out inIndia and abroad. As of nowthere is no hurry on resump

tion,” said persons with knowledge of the matter.

Further curbs could come inif the situation worsens.

The Health Secretary said theWHO does not favour a blanketban on international travel.

Centre pushes 11 States to step upvaccination; no national curbs Experts to decide

on jabs for children,

booster dose

A man dressed as Santa Claus seen distributing masks as part of an

awareness programme in view of the increasing cases of Covid19

and Omicron in Ahmedabad. VIJAY SONEJI

Data Patterns ends Day 1 12.6% higher Chennai, December 24

Chennaibased Data Patterns

(India) made a stellar market

debut on the BSE on Friday

listing at a premium of 48 per

cent over the issue price. The

stock was listed at ₹�864 apiece.

On the NSE, too, it opened at

₹�856.05, a premium of 46 per

cent over its issue price. The IPO

comprised a fresh issue of

shares worth ₹�240 crore and an

offer for sale of 59.52 lakh

equity shares by promoters . P5

L&T MF deal: HSBC AMCto become 12th largest Mumbai, December 24

The acquisition of L&T Mutual

Fund will catapult HSBC Asset

Management Company to the

12th position from the 21st, with

combined assets of over ₹�92,400

crore as of Novemberend. L&T

MF has 29 openended schemes

of which 17 are common with

HSBC AMC and hence these

funds will have to be merged,

while other schemes which are

unique on both sides will

continue. P5

QUICKLYOMICRON COUNT TOUCHES 358

Regd. TN/ARD/14/09-11, RNI No. 55320/94

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MUMBAI

2 BusinessLine SATURDAY • DECEMBER 25 • 2021NEWS

BusinessLineDisclaimer: Readers are requested to verify& make appropriate enquiries to satisfythemselves about the veracity of anadvertisement before responding to anypublished in this newspaper. THGPUBLISHING PVT LTD., the Publisher &Owner of this newspaper, does not vouchfor the authenticity of any advertisementor advertiser or for any of the advertiser’sproducts and/or services. In no event canthe Owner, Publisher, Printer, Editor,Director/s, Employees of thisnewspaper/company be heldresponsible/liable in any mannerwhatsoever for any claims and/or damagesfor advertisements in this newspaper.

AYUSHI KAR

Mumbai, December 24

Commodity price inflation has

been plaguing the white goods

industry throughout the year.

After the festival season,

appliance makers announced a

third round of price increase. In

an interview to

BusinessLine, Kamal

Nandi, Business Head

and Executive VP at

Godrej Appliances,

spoke on demand,

future price hikes and what the

next year will hold for the

industry. Excerpts:

White goods or appliances

have seen the third tranche

of price increase this year?

Will this continue and how

will it impact demand?

We have been postponing theprice increase for some time.We did not hike prices duringthe festival reason. Beforethat we had announced tworounds of price increase. Evenwith the recent third price increase, we will cover around

18 per cent of the 2324 per cent of commodity price hikethat we have seendue to infl�ation. Sothere is still a gap of

56 per cent that we need tobridge, which we will take asand when we see an opportune moment. The next hikeis not yet planned, so we don’tknow when we will go for it.We expect the market tobounce back in the fourthquarter of this fi�scal year,

though there is uncertaintywith the Omicron variant. Wemay be in a better positionthis year in comparison to lastyear. Summer demand for ACsetc will be good, since therehas been postponement ofpurchase last year, due to thesecond wave, as well as infl�ation.

What are the commodities

where you are facing issues,

and when do you foresee

this subsiding ?

Everything, from copper,steel, aluminium, MBI whichis used for foaming, plastics…everything is going up.There are no signs of resolution in the near future. It willcontinue to be at this infl�atedlevel for some time.

This year’s festival season

sales did not do as well as

was anticipated. Could you

provide us a comparison on

how sales did this year

compared to last year?

If you compare OctoberNovember 2021, to the festival

months for 2020, we musthave seen degrowth ofaround 20 per cent in quantity, whereas in terms of value— degrowth must have beenof around 56 per cent, giventhat there was a price hike of1516 per cent. For the comingsummer season, we expect itto be better than 2019 (prepandemic) summer. A comparison with 2020 summer isirrelevant since that seasonwas a washout as a result ofthe second wave.

With 2021 ending, if you

have to summarise the

impact of this year on your

business, what will it be?

I believe that 2021 has beenthe most challenging year sofar, worse than 2020...giventhat we faced a doublewhammy of headwinds onthe overall business and thesecond wave of Covid along

with the infl�ationary trend,both of which impacted demand as well as the overallgrowth of the industry. 2022 isexpected to be better than2021, we also expect it to bebetter than 201920 (prepandemic levels). How the Omicron impact pans out, willdefi�ne whether 202223 willbe better than 201920 or not.

There is a trend in the

appliances industry of

localising sourcing of

components. To what

extent have you managed

to localise the value chain to

India?

Godrej Appliances has goneahead and made investmentsin developing componentsfor our own use, specifi�callyderisking ourselves from allimports. As an industry aswell, we have encouraged ecosystem development for com

ponents. Over the last twoyears, after the fi�rst wave, allindustries had found alternative vendors and sources. Indiaspecifi�cally looked for alternative vendors and vendorsources, which were also localised. In the appliances industry, the component import varies from category tocategory anywhere between15 to 75 per cent (75 per cent ofimport of components isfound in air conditioners).That highest per cent importhas gone down to roughly 50per cent, so an overall 20 percent reduction has happenedin the imports. I believe downthe line in three years this willcome down to 2025 per cent.Godrej invested close to₹�1,000 crore to develop critical components in house, inthe last fi�ve years and the investment will continue forthe next three years as well.

Commodity price inflation will continue: Godrej Appliances’ Kamal Nandi

O

‘2021 has been the most challenging;

next year is expected to be better’

ZY

We expect the market to

bounce back in the fourth

quarter of this fiscal year,

though there is

uncertainty with the

Omicron variant.

KAMAL NANDIBusiness Head and Executive VPat Godrej Appliances

YZ

AJ VINAYAK

Mangaluru, December 24

Bollywood and cricket are thefactors that connect most Indians, as the former sets action on screen and the latteron the pitch. In fact, crickethas emerged as a favouritepitch for Bollywood also.

The latest entry into this is acricketbased movie‘83’. Indiadid not get a chance to watchKapil Dev’s action in Englandduring the 1983 World Cup,which India eventually won.Bollywood director KabirKhan has now recreated thispiece of history on silverscreen in the movie ‘83’ withRanveer Singh playing Kapil’srole.

In 2001, Aaamir Khan’scharacter (Bhuvan) played acricket match against the English team in the movie Lagaan(set in preIndependence India) to beat the opposite team.More than 30 movies based onsports have been released inthe last 20 years. A majority ofthese movies were on cricket.

In a list of 31 movies analysed by BusinessLine, 11 focussed on cricket. Of them, MSDhoni: The Untold Story, Azharand Sachin: A Billion Dreams (adocufi�lm) were based onthree former Indian captains.Late actor Sushant Singh Rajput played the role of Dhoniin the 2016 movie, which wenton to become the fi�rst moviebased on cricket to cross ₹�100crore box offi�ce collection.

Significance of 2016 Bollywood released sevensportsbased movies in 2016.

According to the KPMG India – FICCI’s ‘Indian Media andEntertainment Industry Report, 2017’, 225 Bollywoodmovies, including sportsbased ones, were released in2016. Only 26 movies wereable to earn more than ₹�30crore (net) in the box offi�ce,and they contributed nearly80 per cent to the overall boxoffi�ce collection of all the Bollywood movies that year. Itsaid that only seven movies

were able to cross ₹�100 croremark in 2016.

Of the 26 movies, the totalbox offi�ce collection of threeof the sportsbased movies –Aamir Khan’s Dangal, SalmanKhan’s Sultan, and Sushant’sDhoni – crossed ₹�800 crorethat year. In fact, Dangal andSultan raked in more than₹�300 crore each.

At least one movie each onsports was released everymonth from June to September of that year.

Biopics of sports personalities seem to be the choice ofmoviemakers and moviegoers. At least 10 biopics onsports personalities havebeen made till now.

Four biopics — MS Dhoni,Dangal, Budhia Singh andAzhar – were part of the list in2016. Of these, two were onthe former cricket captains ofIndia.

Three biopics were made onathletes. Late Irrfan Khanplayed the role of the athletein the 2012 movie Paan SinghTomar. Farhan Akthar playedOlympian Milkha Singh in2013, and the 2015 movie Bud-hia Singh: Born to Run focusedon the kid marathon runner.

Biopics of sportspersons

from boxing, wrestling,hockey, badminton andshooting were also made. Priyanka Chopra played the roleof boxer Mary Kom in 2014. In2016, Dangal focussed onwrestlers Phogat sisters. The2018 movie Soorma was on thehockey player Sandeep Singh,and the 2019’s Saand Ki Aankhwas based on women shooters Chandro Tomar andPrakashi Tomar. The year 2021saw the release of a biopic onthe badminton player SainaNehwal.

Box office collectionsAkshay Kumar’s movie Goldand Farhan Akthar’s BhagMilkha Bhag crossed the ₹�100crore mark in box offi�ce collections, in addition to 2016’sbox offi�ce toppers Dangal, Sul-tan and MS Dhoni. Biopics putup a better performance atthe box offi�ce than others.Two movies on sports madetheir debut on OTT platformsthan opting for a theatrical release.

Women-centred moviesWomencentred themes insport movies were the otherattraction for moviemakers.At least 10 movies had women

as the leading characters.While cricket and boxingwere the fl�avours of choice formoviemakers, the womencentred movies focussed onother sports such as kabaddi,badminton, shooting, wrestling and athletics.

Bollywood’s aff�ection forbiopics was visible in womencentred movies also withMary Kom, Saina Nehwal, andChandro Tomar and PrakashiTomar getting their achievements highlighted on the silver screen.

Duration of moviesA majority of the sportbasedmovies had a run time ofaround twothree hours. However, Lagaan, Bhag MilkhaBhag and MS Dhoni had a runtime of more than threehours. Lagaan’s runtime was224 minutes (3 hours and 44minutes).

It is to be seen if ‘83’ will be aspring board for movies onother sportsbased themes asmany Bollywood moviemakers are looking at newsubjects, new sports, and newbiopics to bring them on silver screen after India’s goodperformance in the TokyoOlympics.

Of the 31 movies

based on sports

released in the

last 20 years, 11

were on cricket

Lagaan to 83: Cricket is Bollywood’s favourite pitch

DATA FOCUS

PALAK SHAH

Mumbai, December 24

The Multi Commodity Exchange (MCX) has made further payments to the littleknown Londonbased software developer PESB towriggle out of the arbitration proceedings in Singapore that were initiatedagainst it by the company inJanuary.

In a vague communicationissued to the stock exchanges on Tuesday, MCXsaid the dispute was settled“on the payment of anamount equivalent to outstanding invoices.” Payments made by MCX to PESBbetween 2018 and 2020 fordeveloping a spot exchangesoftware became controversial as 8090 per cent of theamount was given in ad

vance. While MCX hastermed the outside court settlement as ‘amicable’,sources told BusinessLinethat the exchange had succumbed to pressure fromPESB to bring a closure tothe dispute despite the factthat the spot exchange software could not be deliveredby the UK fi�rm as per thecontractual agreementsigned nearly three yearsago.

Advance paymentsIn 2019, BusinessLine hadfi�rst reported the story ofMCX having made advancepayments to PESB for a spotexchange software, whichcould not be delivered. Following the story, MCX constituted a committee to conduct inquiries with regard to

the selection of the vendor,signing of contract and payments made in London. MCXhad paid nearly ₹�19 crore toPESB. But its latest communication is silent on the exact fi�gure of the additionalamount paid.

MCX just said that payment of an amount ‘equivalent to outstanding invoices’was made. Sources say thatMCX cannot raise invoices

since it was ‘giving the order’ for software development and hence additionalpayment was made to PESB.

Earlier this year, MCX haddisclosed that it had “requested the vendor, for amicableresolution of dispute, tocomplete the projectwithout any cost escalationand provide knowledgetransfer to MCX team for theamount paid thus far.” Instead PESB dragged MCX toSingapore for arbitrationproceedings. MCX was underpressure to resolve its software dispute and fi�x the responsibility for choosing anobscure vendor, since market regulator SEBI had started asking questions, thesources said.

An email query and messages sent to MCX, its boardmembers and also to themembers of the exchangeaudit committee remainedunanswered.

Sources said the bourse was under

pressure from the UK-based software firm

MCX pays more money to London firm PESB to drop Singapore proceedings

WXMCX said the dispute

was settled “on the

payment of an amount

equivalent to

outstanding invoices.”

OUR BUREAU

Chennai, December 24

Freshworks Inc on Thursdayannounced that it has resolved the litigation fi�led byZoho Corporation in March of2020 in federal court in California for trade secret misappropriation against the company.

In a press release, the globalSaaS platform said, “Following the fi�ling of the lawsuit,Freshworks determined thata nowformer Freshworkssales employee, using hisspouse’s computer withouther knowledge, wrongfullyaccessed and used Zoho confi�dential information relatingto sales leads.” “These actionswere not taken at the direction of Freshworks and arecontrary to Freshworks’policies,” it added.

In March 2020, Zoho Corporation fi�led a lawsuitagainst Freshworks — promoted by former Zoho employees Girish Mathrubootham and ShanKrishnasamy — for ‘TradeSecret Misappropriation’ inthe US District Court Northern District of California.

Zoho accused Freshworksof violating the Defense ofTrade Secrets Act, the California Uniform Trade Secrets Act,the intentional interferencewith prospective economicrelations, conversion and unjust enrichment.

Freshworks,Zoho reachsettlement toend litigation

OUR BUREAU

Bengaluru, December 24

SASMOS HET Technologies Ltd, aBengalurubased leading manufacturer of electrical and wiring solutions for aerospace andDefence sector, on Friday announced that it has acquiredthe UKbased manufacturerWestwire Harnessing Limitedfor an undisclosed amount.This is SASMOS’ fi�rst international acquisition.

Through theacquisition, SASMOS plans to increase Westwire’s annual turnover from £3million to £10 million in thenext fi�ve years. Started in 1986in Swindon of UK, Westwiremanufactures wiring harnesses and electrical productsfor the global rail, aerospace

and defence markets. It has amanufacturing facility on theHeadlands Industrial Estate,spread over 10,000 sq. ft. The acquisition is wellpoised tostrengthen the presence andportfolio of SASMOS in UK andEurope and fulfi�ls SASMOS’ mission to be a global brand.

Shot in the armThe acquisition will immediately allow SASMOS to leverageWestwire's advanced engineering capabilities, manufacturing expertise and solid clientbase. Westwire’s capabilitiesrange from harness design,manufacture, repairs and reengineering for aerospace, defence, rail and motorsport clients to interconnection boxbuild.

Talking about the acquisition, HG Chandrashekar, Chair

man and Managing Director,SASMOS HET Technologies Limited, said, “We have always beenon the cusp of transition andtransformation that enables usto explore newer markets, portfolios and technology, thereby,aid us off�er better solutions toour customers. The strategic acquisition will enhance our offering with additional competence and support that comesfrom Westwire. As driven by thenation’s commitment of ‘Makefor a World’, we are alreadyserving global clients acrossand a UK set up would be a strategic push towards our expansion to the western world. Weare hopeful that the combinedstrength of both the entitieswill help us in industryspecifi�cscalability to take on new projects and opportunities in theUnited Kingdom and Europe.”

Value of the deal

not disclosed

SASMOS HET Tech acquires UK’s Westwire Harnessing

G BALACHANDAR


Tata Motors is expected to end2021 on a high note having resurrected itself in the UtilityVehicle (UV) segment. Withnew launches and a boom inthe SUV market, the brand isset to secure the third positionby volumes soon in the UVmarket. .

While the overall passengervehicle (PV) industry witnessed a growth of 31 per centduring JanuaryNovemberperiod, the UV segment reported a whopping 62 per centgrowth at 1.25 million units.

Tata Motors sold 1.52 lakhSUVs during JanuaryNovember period, reporting an increase of 185 per cent visàvisthe same period last year.

Tata’s ‘New Forever’ rangesignifi�cantly improved theperception of Tata Motors’brand over the last 18 months.The company has seen its NPS(net promoter score) growfrom 25 in FY20 to 33 in Q3FY22. (NPS is the diff�erencebetween the percentage of

promoters and detractors. Foreg, in a brand survey targeting100 people, if 60 promote thebrand and 40 are its detractors, the NPS is +20).

“This has led to substantialimprovement in consideration for Tata Motors cars andconsequently an increase inoverall sales. Therefore, themix of SUVs in Tata Motors’portfolio has increased from37 per cent in CY20 to 52 percent in CY21,” ShaileshChandra, President PassengerVehicles Business, Tata Motors,told BusinessLine.

In UVs, Tata Motors has oneof the widest range ofproducts consisting of subcompact SUV (Punch), compact SUVs (Nexon, Nexon EV)and midsize SUVs (Harrierand the New Safari), he added.

Full rangeThe Tata brand has a full rangefrom entrylevel Punch to Safari to address all price pointsin the UV segment. The noveldesign features and pleasingaesthetics in new models are

being appreciated by the buyers. Also, its portfolio includesa higher number of vehicleswith better safety ratings thancompetition. “Tata Motors’growth in the passengervehicle (PV) segment in recentyears is driven by its nichepresence with fi�rstmover advantage, new launches, andgreat design languagecoupled with competitiveprices. A lot of bells andwhistles, new features, thelatest powertrain, and goodinitial quality are also some ofthe key factors for Tata’s salessurge,” said Sanjeev Garg, Practice LeaderAutomotive, PraxisGlobal Alliance.

The company’s marketing

campaigns and reinvigorateddealer network have helpedpromote new models. Sharingof the platform has enabledthe launch of multiple modelsfrom diff�erent segments under a single platform, therebyreducing the time spent in thedevelopment of new vehiclesand production costs.

However, Tata Motors needsto speed up the launch of petrol engine variants of its popular SUVs, the Safari and Harrier.The gap is a true 4X4 SUV tocompete with Mahindra Tharand Maruti Suzuki Jimny. Butoverall, good job by the carmaker to resurrect and address market needs swiftly, headded.

Mix of SUVs in its portfolio increases to

52% in CY21 against 37% in CY20

Tata Motors sold 1.52 lakh SUVs during January-November period

Tata Motors resurrects in UV market with ‘swift new launch strategy’

OUR BUREAU


Paytm on Friday said it has elevated Bhavesh Gupta, CEO,Paytm Lending, to take on leadership responsibilities for theoffline payments vertical in addition to his existing responsibilities.

The company, which listedon the bourses last month, saidit aims to grow its leadership inthe offline payments space andpropel the growth of credit tomerchant partners with thisconsolidation.

One97 Communications,which owns the Paytm brand,also confi�rmed that Renu Satti,

after a decade of associationwith Paytm, had moved onafter she expressed her desireto take a career break.

This is the only voluntarysenior exit in the company inrecent times, and the management team is greatly augmented by several recent additions

in offline payments and fi�nancial services, Paytm said in astatement fi�led with the stockexchanges.

To hire senior leadersPaytm also said the companyhad recently promoted 25 colleagues to Senior VicePresident and VicePresident positions, taking the seniormanagement team count toover 150. The company plans tohire over 30 senior leaders forproduct, technology and business roles, the statementadded.

Paytm spokesperson said,“We are excited about the accel

erated growth of credit accessto merchants, which has led tothe consolidation of our offlinepayments and credit businesses under Bhavesh’s leadership. We congratulate our colleagues on their promotions asa recognition of their contribution to Paytm’s growth. We alsowish Renu all the best as shemoves to the next phase of herjourney.”

Paytm remains committedto the goal of bringing half abillion Indians to the mainstream economy, and drive inclusion in digital paymentsand fi�nancial services, thestatement added.

Paytm Lending CEO gets additional role, will lead offline payments vertical

................BM-BMECMYK

MUMBAI

BusinessLineSATURDAY • DECEMBER 25 • 2021 3NEWS

PRESS TRUST OF INDIA


The Department of Telecom(DoT) has extended the duration of archiving call data andinternet usage records of subscribers to two years from oneyear due to security reasons.

The amendments in the licences were issued on December 21 and extended to otherforms of telecom permits thenext day.

In ‘public interest’“The licensee shall maintain allcommercial records/call detailrecord/exchange detail record/IP detail record with record tothe communications exchanged on the network. Suchrecords shall be archived for atleast two years for scrutiny bythe licensor for security reasons...,” said a circular.

Telecom companies may destroy the data stored thereafter

if there is no further directions.The circular added that the

amendment is necessary in“public interest or in the interest of the security of theState or for the proper conductof the telegraphs”.

The amendment mandatestelecom companies to maintain internet data records ofsubscribers, including login

and logout details of all subscribers for services providedsuch as internet access, email,internet telephony services likecalls made from mobile applications or WiFi calling for atleast two years.

Earlier the rules mandatedthe archive call data and internet usage records for at leastone year.

Telcos told to store call data, net records for 2 yrs

KR SRIVATS


The Finance Ministry has appointed Vandita Kaul, Additional Secretary in the Department of Financial Services(DFS), as parttime member ofthe Pension Fund Regulatoryand Development Authority(PFRDA).

The 1989 batch offi�cer of theIndian Postal Service, Kaul replaces Madnesh KumarMishra, who recently movedout of DFS, offi�cial sourcessaid. Besides the Chairperson,the PFRDA Board has threewhole time members andthree parttime members.

Meanwhile, the Bill to separate the NPS Trust from PFRDAwas not taken up in the justended Winter Session although it was listed.

Fin Min officialVandita Kauljoins PFRDA

OUR BUREAU

Mumbai, December 24

The overall recovery rate forlenders, till Q4 FY21, improvedto 39.3 per cent post implementation of the Insolvencyand Bankruptcy Code (IBC),against 26 per cent in the past,according to credit ratingagency, CARE Ratings.

The recovery, which dippedto 25.5 per cent in Q1 FY22, improved to 49.2 per cent in Q2,taking the cumulative rate to35.9 per cent, the agency said inits IBC update.

30% ended in liquidationIt also assessed that althoughthe recovery rate has beenhigher compared to othermeasures, the same has declined over a period (from 45.9per cent in March 2020 to 36 percent in June 2021, and remained

similar in September 2021 at35.9 per cent).

Of the total 4,707 cases admitted into the Corporate Insolvency Resolution Process(CIRP) till the end of September2021, 35 per cent continue to remain in the resolution processagainst 39 per cent at the end ofMarch 2021, with manufacturing sector accounting for a majority, followed by real estateand the construction segment,per the update.

The agency said 1,419 cases(30 per cent of the total casesadmitted) have ended in liquidation, which is higher compared with the last quarter.However, 74 per cent of theCIRPs ending in liquidation

(1,049 out of 1,419 cases) wereeither BIFR cases and/ordefunct.

Around 15 per cent (701CIRPs) of the cases have beenclosed on appeal or review orsettled which is higher byaround 100 basis points/bpscompared to the last quarter(around 14 per cent in Q1 FY21).

11% cases withdrawnCARE noted that 11 per cent ofthe cases have been withdrawnunder Section 12A of IBC. “A signifi�cant number of such cases(around 53 per cent) were lessthan ₹�1 crore. The primaryreason has been either the fullsettlement with the applicantwhich has increased to 41 percent against 37 per cent at theend of March 2021 or other settlement with creditors (21 percent),” the agency said.

Only 9 per cent of the total4,707 CIRP cases have ended inapproval of resolution plans byend of September. The approvalof resolution plans increasedby only one per cent comparedwith March 2021, and is thesame as the last quarter.

CARE says 35% of

cases remain in

resolution as on

Sept against 39%

in March

... even as lenders’ recovery goes up 39%

OUR BUREAU


Export of engineering goodsto China more than doubled inNovember 2021 to $434.6 million compared to $205.3 million in the same month lastyear.

The US, however, remainedtop destination for Indian engineering exporters with exports worth $1,196 million during this period, over $875million in November 2020, registering a growth of 36.6 percent.

Decline after four monthsAfter four consecutive monthsof clocking fi�gures close to the$9 billion, engineering exportsin November came down toaround $7.7 billion. There was adecline in shipment value, too.

The UAE was the thirdbiggest market for Indian engineering goods with totalshipment value at $404.4 mil

lion in the previous month,data released by the Engineering Export Promotion Council(EEPC) said.

Volatility, uncertaintyThe EEPC India analysis of themonthly data showed engineering exports in November2021 slowing to $7.7 billionfrom $9.03 billion in October2021. However, the growth wasstill substantial at 37.12 percent over the exports ofNovember 2020 at $5.62 billion.

Engineering exports inNovember 2021 grew by 25.74per cent compared to preCovid year of 2019.

“The slowdown seems to beindicating the distress exporters are facing given the volatil

ity in world demand and theuncertainty regarding thepandemic which has beentriggered by the new variant,Omicron. Experts around theglobe have already predictedthat while the global tradegrowth is remarkable, it is noteven across the countries,”EEPC India Chairman, MaheshDesai, said in a statement.

‘Need complete support’“Exporters need complete support within the country suchthat they may remain competitive even during the upcoming uncertainties. We therefore, urge the government tolook into the issues of growinginfl�ation, rising raw materialprices such as steel and logistics issues such as scarcity of

containers, with growing urgency,” Desai added.

Meanwhile, the share of engineering in total merchandise export was 26.89 per cent inNovember 2021 as against26.37 per cent in October. On acumulative basis, the sharewas 27.31 per cent duringAprilNovember.

Mapping exportsExports rose to 21 out of 25 topexport destinations and all regions. Italy, China and Belgiumwere the top three importersof Indian iron and steel duringAprilNovember 2021 whereasthe US, Germany and UK werethe top three importers of India’s ‘products of iron andsteel’.

The US was the largest importer of Indian ‘industrialmachinery’, followed by Thailand and China.

Similarly, South Africa, Mexico and Nepal were top threeimporters of India’s automobilesIn the nonferrous metalsand products segment, China,South Korea and the US werethe top three importers fromIndia, and the US, Germanyand Poland were the three topimporters of Indian electricalmachinery and components.

But fall to $7.7 b

after 4 months; US

is top destination

with growth up

36%: EEPC data

Engineering exports to China double in Nov

OUR BUREAU


Even as the ₹�6lakh crore National Monetisation Pipeline(NMP) promises to unlock capital by monetising deriskedbrownfi�eld assets, there are several challenges such as core asset valuation and ensuringquality of assets off�ered for bidding that can adversely impactthe implementation of the government’s ambitious scheme.

India Ratings and Research(IndRa) said over the past decade, a sizeable inventory of infrastructure assets has beencreated which can now beleveraged for unlocking thevalue of private sector investments in brownfi�eld assets,thus generating cash infl�owsrequired to create greenfi�eldinfrastructure assets in theform of National InfrastructurePipeline (NIP). The agency believes NMP will reinforce the

government’s focus on infrastructure spending and augment capital creation for newinfrastructure development.

Challenges“IndRa believes the Centralgovernment could face severalchallenges in the successful implementation of NMP, including arriving at fair valuation ofcore assets, and ensuring quality of assets off�ered for bidding,adequate interest and participation of bidders, technical competence of bidders to operateand develop assets, closing oftransactions in timely and adherence of NMP timelines,”said the agency.

It added that the challengesalso pertain to transfer of public assets to private playerssince the government wouldtransfer revenue rights toprivate players for the assets developed from taxpayers money.

“IndRa believes ... the key challenge lies towards executionwhere clarity is pending regarding the usage of thesefunds,” it said.

Medium-term road mapThe government announcedNMP in August, in line with theroadmap introduced in theUnion Budget for FY22 whichwas further developed in consultation with the NITI Aayog. Itintends to create a mediumterm road map for line ministries and agencies for providing mediumterm visibility to

investors and to bring better effi�ciency in public asset management. The programmeaims to monetise 13 classes ofcore assets of estimated valueof ₹�6lakh crore over FY2225.

Assets such as roads, railwaysand power are likely to unlockcapital of ₹�3.97lakh crore ofthe total monetisationpipeline, accounting for 66 percent of NMP.

‘Huge potential’“IndRa believes the government’s strong focus on these assets is on account of the available sizeable brownfi�eldinventory, healthy budgetaryallocation to these segmentsand tested monetisationvehicles. IndRa also believesthat if NMP is implemented forthese segments as envisaged,this sector could provide hugepotential to unlock growth capital,” the agency said.

Valuation, asset quality challenges in NMP: Ind-Ra

OUR BUREAU

Kolkata, December 24

Amit Mitra, Principal ChiefAdvisor to Chief Minister andFinance Department, WestBengal, on Friday urged Finance and Corporate Aff�airsMinister Nirmala Sitaramanto call for a GST Council meeting at the earliest and revertthe decision to increase GSTrate to correct the invertedduty structure in footwearand textiles sector.

The Council’s 45th meeting,held on September 17, hadproposed to increase GST ontextiles and footwear to 12 percent from the current 5 percent, eff�ective January 1, 2022.

‘No in-depth discussion’According to Mitra, the 7 percent additional GST wouldlead to the closure of an estimated one lakh small andmedium size units andrender close to 15 lakh peoplejobless.

The textiles sector is estimated to be close to ₹�5.4lakhcrore, and over 80 per centcomes from natural fi�bressuch as cotton and jute.

The sector employs approximately four crore people.

“The 45th meeting of theGST Council did not discussthis matter at any depth. Thisshould have been discussedthreadbare. It is estimatedthat one lakh small units willclose because of this 7 percent additional GST. Job lossincluding ancilliaries is estimated to be close to 15 lakh,”he said at a virtual press conference to discuss the impactof GST increase on the textileindustry in the country.

Formal to informalThis apart, this hike in GSTrate is likely to push the smaller units, which have recentlybecome formal by registeringunder GST, to become informal again.

An estimated one lakhunits may choose to becomeinformal and may go out ofthe tax purview.

“The current tax levels onmanmade fi�bre sector is 18per cent, so what they are saying is you are paying 18 percent as input but when youare selling it as an output, youare only paying 5 per cent; sothe duty structure is inverted.But the problem is only 15 to20 per cent of the industry ismanmade fi�bre, the remaining is natural where there isno inverted duty structure.So, only for that 15 per cent inverted duty structure correction, what you are doing is

creating a situation whereone lakh small units willclose, 15 lakh people will become unemployed.

“This is a huge impact andon this, there was no discussion in threadbare nature.This is a very dangerous situation,” he said.

According to him, the totaltax collection from the sectoris close to ₹�19,00021,000crore and it accounts for onlytwo per cent of GST collections.

The estimated revenue gainfrom this increase is likely tobe close to ₹�7,000 crore.

However, this may be diffi�cult to achieve since a largenumber of units may preferto become informal againthereby, resulting in a hugeloss.

“I have inputs from variouschambers of commercewhich suggest that theywould not be able to handlethis 7 per cent additional GSTburden becuase they do nothave the capital resources asthey run on thin margins,” hepointed out.

Amit Mitra urges Centre to convene

meeting, reverse decision to hike rate

‘GST hike on footwears, textileswill render 15 lakh people jobless’

Amit Mitra KAMAL NARANG

KR SRIVATS


The Centre’s plan to eff�ectchanges to the Insolvencyand Bankruptcy Code (IBC) soas to achieve timebound resolution of stressed assets hasevoked mixed reactionsamong insolvency law experts. Some contend that theproposals aimed at minimising delays may not help inyielding the expected outcomes.

IBC changes have also beenproposed to address thedelays in admission of application for initiation of corporate insolvency.

‘Not very helpful’Commenting on the proposed IBC changes, BikashJhawar, Partner, Saraf & Partners, said the proposals dealing with minimising timemay not be very helpful asthey don’t go to the rootcause of delay which is meaningless challenges both at admission and at resolution.

It has to be clarifi�ed legis

latively that the tribunals including appellate tribunal incase of a Section 7 applicationshould not entertain any intervention by the CorporateDebtor or other person sinceit only has to satisfy itself ofexistence of default and notwhy the default occurred.

Jhawar however, noted thatthe proposal to deal withavoidance transactions postthe CIRP of a corporatedebtor is a welcome proposal.

Similarly, the proposalaround the IBC fund and itsutilisation, especially relatedto cash strapped insolvency,is quite salutary, he said. Thefund could also be used to

provide interim fi�nance asquite often operations during CIRP suff�er due to lack ofreasonably priced interimfi�nance, Jhawar said.

‘Enhancing IBC’s efficacy’Ashish Chhawchharia, Partner and National Head Restructuring Services, GrantThornton Bharat, said the recent amendments proposedby the Insolvency Law Committee (ILC) will further enhance the effi�cacy of IBC byaddressing some of the pressing concerns such as inordinate delays in admissions andapproval of resolution plansby NCLT. Also, streamlining

avoidable transactionsframework and removingsome ambiguities in this areawill certainly help in enhancing the asset pool availableto creditors, he said.

“These timely interventions clearly indicate that thegovernment has its ear to theground and willing to makechanges to make this landmark reform even more successful,” Chhawchharia said.

‘Welcome step’Aseem Chawla, ManagingPartner, ASC Legal, said: “As ameasure of instilling bestpractice, comments frompublic and stakeholders havebeen sought on the recommendations put forth by theILC. “Suggested changes forstakeholder inputs have beenidentifi�ed in the admission ofinsolvency application. All inall, this is a welcome step.”

‘Clarity needed’Neha Naik, Associate Partner,Phoenix Legal said the dependency on Information

Utilities records, at least forSection 7 applications, aswell as crystallising a timeperiod for approval of resolution plans is a welcomemove.

She said the resultantfaster disposal of such applications will reduce thepossibility of frivolous applications or objections fi�ledby third parties in order todelay the resolution process,which is currently the causefor many corporate debtorseventually facingliquidation.

The proposed changes relating to avoidance transactions may not provide the desired results from a practicalperspective and may welldelay the entire CIRP evenfurther, she said.

Also clarity on whether applications for avoidancetransactions can continueafter approval of resolutionplans will be helpful as thishas always been a grey areain the resolution process, sheadded.

Experts divided on proposed changes to IBC ...WX

The Corporate Affairs Ministry

had on Thursday invited public

comments on the proposed

changes to the Insolvency and

Bankruptcy Code (IBC),

including introduction of fixed

time period of 30 days by

when a resolution plan have to

be approved or rejected



The Union Commerce Ministry’s investigation arm, Directorate General of TradeRemedies (DGTR), has recommended imposition of antidumping duty on causticsoda, used in diverse industrial sectors, for fi�ve yearsfrom Japan, Iran, Qatar andOman, to guard domesticplayers from cheap imports.

The directorate has recommended the duty after concluding in its probe that theproduct has been exported atdumped prices into India,which impacted the domesticindustry.

‘Necessary’ move“The authority considers it necessary to recommend imposition of defi�nitive antidumping duty... for a period of fi�veyears on all imports of the

goods ... from Japan, Iran,Oman and Qatar from thedate of notifi�cation to be issued in this regard by theCentral government,” the directorate has said in anotifi�cation.

The directorate had conducted the probe following acomplaint from Alkali Manu

facturers Association of India(AMAI), which requested forone.

Recommended dutyThe recommended dutyranges between $8.328.61 perdry tonne.

The Finance Ministry takesthe fi�nal decision to imposeduty.

“The authority is of the viewthat imposition of antidumping is required to off�setdumping and injury,” the notifi�cation said.

The imposition of antidumping duty is permissibleunder the World Trade Organization (WTO) regime.

The proposed antidumping duty is aimed at ensuringfair trading practices and creating a levelplaying fi�eld fordomestic producers visavisforeign producers and exporters.

Recommended anti-dumping

duty ranges between $8.32 to

8.61 per dry tonne

Centre to impose duty on imported caustic soda

OUR BUREAU


The Centre is looking at simplifying provisions, including decriminalising certain sectionsof the Legal Metrology Act, toreduce the compliance burden on companies, Union Minister Piyush Goyal said onFriday.

In his virtual address on theoccasion of National Consumer Day, Goyal said theCentre has already set the tonefor a more strong consumerprotection regime with keyinitiatives such as the DirectSelling Rules, Mediation Rules,amendments in Legal Metrology (Packaged Commodities)Rules which provides easyprice comparison of commodities, among others.

Goyal also directed Centraland State offi�cials to strictlymonitor that “country of ori

gin” norms are implemented.It is not acceptable if ‘Made forIndia’ is written, he said.

He added that the ministryis also examining stakeholderfeedback received on the proposed draft amendments inthe Consumer Protection (ECommerce) rules which willfocus on checking unfair tradepractices and protection consumer interest.

So far, the government hasnotifi�ed 10 rules and six regulations under the ConsumerProtection Act 2009. Work isunderway for framing a fewmore, he added.

The minister said the ‘eDakhil’ facility, recentlylaunched for efi�ling consumer complaints, has alreadyregistered over 40,000. However, awareness about thisplatform needs to be enhanced, he said.

Centre to decriminalise clauses ofLegal Metrology Act to ease burden

................BM-BMECMYK

MUMBAI


OUR BUREAU

Mumbai, December 24

Financial inclusion enhancesthe potency of interestratebased monetary policy bycausing an increasing number of people to become responsive to interest ratecycles, according to ReserveBank of India Deputy Governor MD Patra.

“This, in turn, prompts appropriate smoothing behaviour. Some evidence alsosuggests that as interest ratesensitivity of the populationincreases, central banks needto move interest rates less toachieve their objectives,”Patra said.

Smoothing consumptionIn his keynote address at thelaunch workshop of ‘Financial Inclusion for Rural Transformation’ organised by IIMAhmedabad, the Deputy Governor said that although it isempirically observed thatthere is a twoway relationship between monetarypolicy and fi�nancial inclu

sion, it is unambiguous thatfi�nancial inclusion is able todampen infl�ation and outputvolatility.

Patra explained that this is“achieved by smoothing consumption by enabling peopleto draw down fi�nancial savings in diffi�cult times foreveryday needs. This makespeople interestsensitive.”

Moreover, infl�ationtargeting monetary policy ensuresthat even those at the fringesof fi�nancial inclusion are secured from adverse incomeshocks that hit when pricesrise unconscionably, headded.

Financial literacy crucialPatra emphasised that fi�nancial inclusion fosters societalintolerance to infl�ation, a social preference for macroeconomic stability, and a sense ofthe long and variable lagswith which monetary policyoperates.

“This enables smaller monetary policy actions toachieve the same goals in a

shorter period,” he said. He noted that fi�nancially

included economic agentsappear to be able to ride outinterestrate cycles procyclically instead of being impacted countercyclically.Clearly, sustaining the thruston fi�nancial inclusion willleave the RBI better off� inachieving monetary policytransmission, he added.

“It is observed that fi�nancial literacy empowerspeople to choose more relevant information and makebetter use of it. Closer assessment of future infl�ationhelps make informed choiceson personal fi�nance decisions, including opening ofa bank account, taking a bankloan or even bargaining forwages,” Patra said.

He expects that an included and aware populationwill participate more in monetary policy formulation andimplementation, developmore rational expectationsand induce fi�nancial intermediaries to transmit policy impulses more swiftly and effectively across the fi�nancialsystem.

Access to formal financePatra explained that increasingly, monetary policy authorities realise that fi�nancialinclusion — or equality of access to formal fi�nance — impacts the conduct of monetary policy morefundamentally than theythought.

As people get fi�nancially included, they can use their access to formal fi�nance to dealwith both good and badtimes, and in more accuratelyassessing future infl�ation,which has monetary policyimplications, he said.

“So, central banks do careabout inequality. After all, social welfare — the mandate ofinstitutions committed tothe greater public good —hinges on it,” he said.

‘Financial inclusion makes peoplemore responsive to interest rates’Dy Guv Patra says it would also help RBI

achieve monetary policy transmission

MD Patra, Deputy Governor,

Reserve Bank of India

SURABHI

Mumbai, December 24

Future Generali India

Insurance has grown at 26 per

cent for the last three years and

is confident of continued

double-digit growth. In an

interview with BusinessLine,

Anup Rau, Managing Director

and CEO, Future Generali India

Insurance, says the company is

upbeat about non-health,

non-motor segments and

that Generali, the

Trieste-based Italian

insurance company, is

keen to increase its stake

in the insurer. Excerpts:

How is the business since the

onset of the pandemic?

In 202021, we had doubledigitgrowth at 1212.5 per cent whilethe industry grew at aboutseven per cent. Overall, the industry has done well despitethe pandemic.

The appreciation for insur

ance and for mitigating riskhas gone up. People realisethey need to protect theirassets.

What is your outlook for the

coming year?

A lot of people talk abouthealth being the new motorand health overtaking motorin the next few years. But I have

another hypothesis that therewill be a nonauto,nonhealth segment that will pickup. These could becovers like house

hold insurance, fi�re insurancefor people like us, or pet insurance, cyber insurance for individuals. A lot of these nicheswill grow faster than anythingelse. The nonhealth, nonmotor segment over the next fi�veto seven years can be signifi�cant and will be 10 per cent ofour top line.

Is there a chance Future

Group will exit the

company?

I can’t speak for shareholdersbut I can say that Generali isvery clear that they want to increase the stake in our business to the fullest extent permitted by regulations. 74 percent is what the new regulations permit and I’m confi�dentthey’ll go as close to it as possible. They’re very committed to India. Second, weare profi�table and we willbe profi�table for a longtime. We really don’t needpromoters to infuse capital to continue growing.

How has the experience

been on the health

side, given the

high claims

for the

industry?

We’vedone

pretty well. We were not signifi�cant in health. In retailhealth, we were ranked 17three years back. Today, we arein the top 10. It’s an area of focus — we want to double ourhealth topline every year fromhere on. And our claims arebest in class. We are not worried about claims, as experi

ence with Covidhas been poorfor the industry as awhole.

How is the group health

business doing?

There was hardening of rateson both life and health coversbecause of the pandemic. Aslong as there’s some uncertainty on how this will playout, rates are going to harden.Even reinsurers had hardenedthe rates.

It’s a cycle. On the retailhealth side, most companieshaven’t passed on the burdento the customer but there hasbeen some level of margin

shrinkage which most companies have absorbed on theretail side. On the group healthside, there’s been hardening.

Our proposition is that weare not the cheapest, but weare the best when it comes tosettling claims. We retain 95per cent of our customers ingroup health and are happy togrow within our metrics ofclaim servicing.

Any wish list for the next

Budget?

One is tax benefi�ts for healthinsurance, as it will ensuremore people are covered withtheir own insurance and sowould not be a burden on thegovernment. I believe the advantages far outweighwhatever revenue loss therewould be.

The government should alsoconsider including thirdpartymotor insurance for a taxbreak.

‘Pandemic has increased appreciation for insurance’

ZYI have a hypothesis that a non-auto,

non-health segment will pick up. These could

be covers like household insurance, fire

insurance, pet insurance or cyber

insurance — these niches will

grow faster than anything

else.

ANUP RAUManaging Director and CEO,Future Generali India Insurance

YZ

O

NARAYANAN V


Retail credit demand, whichwitnessed strong recoveryafter the second wave of theCovid19 pandemic, continuesto sustain even after the festive season, according to Harshala Chandorkar, COO ofTransUnion CIBIL.

“What we have typicallyseen is that the retail volumehas gone up almost to preCovid levels. It was primarilydriven by demand for personal loans, credit cards andconsumer durable loans,” shesaid.

“We initially thought it (retail credit growth) was on account of festive season butnow we see it sustaining evenafter Dussehra and Diwali. It isa positive sign that there isbuoyancy in the market,” sheadded.

Aggregate credit dataIn its maiden credit market indicator (CMI) released recently, TransUnion CIBIL saidthe country’s retail credit mar

ket is positioned for stronggrowth with a resurgence incredit demand and supply.

Built using aggregate anddepersonalised consumercredit data, CMI considers theimpact of hundreds of creditvariables reported by banksand nonbanking lenders andidentifi�es those that are mostsignifi�cant to changes in consumer credit trends.

Relevant data elements arethen categorised under fourpillars — demand, supply, consumer behaviour and performance — to arrive at asingle indicator.

Steady growthThe report said, “The latestCMI of 87 in August 2021 (upfrom 78 in February 2021) indicates the resiliency of India’s credit market which isback on a growth trajectorydespite the second wave of thepandemic.”

“The CMI has further increased to 91 in September.Banks are looking at crossselling and upselling credit

products to their existing customers,” Chandorkar added.

According to Reserve Bankof India’s December Bulletin,outstanding personal loanson a yearonyear basis hasgrown by 11.7 per cent to₹�29.55lakh crore as of October from ₹�26.46lakh croreduring the same period lastyear. Under personal loans,the consumer durables category witnessed a 44.4 percent yoy jump while creditcard outstanding witnessed a11.9 per cent jump during theperiod.

BNPL demand“Buoyed by the consumptionboost during the festival season, credit card spendingjumped 56 per cent (yoy) tocross an alltime high of ₹�1

lakh crore in October,” the RBIsaid.

Chandorkar also highlighted that within the personal loan category, the demand for buy now pay later(BNPL) products has pickedup substantially on the backof newage fi�ntech NBFC players.

“Through the end of 2017and into 2018, stronger economic growth and entry offi�ntech and other nonbanklenders created greater demand and supply in themarket”.

Asked if the rapid growth inBNPL products could lead tosome kind of stress in the retail segment, Chandorkar saidTransUnion CIBIL is workingwith all fi�ntech NBFCs to ensure that they report their on aregular basis.

“These are typically smallticket loans and if an individual is taking ₹�5,000 loanfrom ten fi�ntechs, then hemay be overleveraged,” Chandorkar said, adding, “We areworking very closely with theindustry and providing themwith insights and solutionsfor prudent risk managementin their lending practices.”

Creditcard spending crossed alltime

high of ₹�1lakh crore in October

Harshala Chandorkar, COO,

TransUnion CIBIL

Retail credit demand outlasts festivalseason: TransUnion CIBIL COO

OUR BUREAU

Mumbai, December 24

Maire Tecnimont Group, anItalian technology licensorand EPC (engineering, procurement and construction)contractor, expects the futureenergy needs of India liebetween reliable traditionalfuel and newage green energy. The group off�ers access tothe worldwide commerciallyproven technology for bioethanol plants and empowers clients looking for plastic upcycling.

MoU with IOCMaire Tecnimont signed anMoU with Indian Oil Corporation (IOC) for the plastic upcycling project, for which thejoint feasibility work is underprogress. It is also in advanceddiscussion with few PSUs and

private companies to executetheir sustainability initiatives.

The company through itssubsidiary, Tecnimont, bringsa complete solution undertheir knowhow of green hydrogen, access to worldclassammonia, urea and carboncapture technologies.

It aims at supporting manyoil and gas companies lookingfor decarbonisation measuresand CCUs (carbon capture andutilisation).

Traditional fuel dominatesSathiamoorthy Gopalsamy,Managing Director, Tecni

mont, said India continues tobe the secondlargest consumer and thirdlargest producer of electricity in theworld, and its energy consumption has doubled in thepast two decades.

However, the mix is skewedtowards traditional fuel by upto 80 per cent compared to renewable sources.

India intends to meet 50 percent of its energy needsthrough renewable sourcesand has immense potentialthat needs planning, execution and maintenance for decades, he said.

Other projects Adani Enterprises, signed anMoU with Maire TecnimontGroup's subsidiaries NextChem and MET Developmentrecently to explore production of green hydrogen, greenammonia and green ureamainly from renewable feedstock.

Tecnimont is executing a hydrogen gas unit project ofHPCL in Mumbai. Despite hav

ing investments into solar andhydro, the company is gettingenquiries from many companies across sectors for investingin a more diverse green energybasket, he said.

The company is in the fi�nalleg of completing a projectworth $225 million to implement a highdensity polyethylene and polypropylene unit ofHPCLMittal Energy atBathinda in Punjab. The company has bagged three consecutive key projects from IOCand is working to implementthem.

Pandemic challengesWhile the pandemic posed anunprecedented set of challenges, Tecnimont managed itthrough agility and experience.

The lockdown did aff�ect theconstruction department initially due to physical, socialdistancing norms and government guidelines. However,these were resolved in timeowing to stringent health andsafety processes.

Offers assistance

with executing

sustainability

initiatives

India intends to meet half its

energy needs through renewables

Tecnimont in talks with PSUs, private fi�rms

KR SRIVATS


IIFL Home Finance Limited(IIFLHFL), a wholly ownedsubsidiary of IIFL Finance, isaiming at 20 per cent growthin assets under management(AUM) in each of next threefi�nancial years,Monu Ratra, CEOand Executive Director, has said.

“We have seen atremendouscomeback afterMay and demand(for home loans) isnow very robust.We are at prepandemic levels ofbusiness operations. The next 35 yearsshould not be a problem evenif there is a cyclical slowdown,” Ratra toldBusinessLine.

Digital transformationIIFLHFL’s AUM stood at ₹�21,474 crore as of September 30this year. This retailfocusedaff�ordable housing fi�nancecompany built lot of musclein recent years by leveragingtechnology and introducingendtoend digitisedprocesses.

In FY21, the company had

disbursed ₹�5,500 crore and itis confi�dent that the level ofdisbursement would behigher this fi�scal.

Co-lending arrangementsIIFLHFL had in the recent pastentered into a colending arrangement with StandardChartered Bank, Punjab National Bank, Central Bank ofIndia and ICICI Bank for extending credit to MSME loans.

Ratra said that the company — among the top ten in

the housing fi�nance industryleague — nowwants to scale upits “colending”activities andmay, in the coming months, domore suchpartnerships.

“So far, we havedone ₹�500 crorein colending. We

expect a few more sign upsand, once we do that, wewould be in a position to scaleup tremendously and givemuch more competitive pricing,” he said.

IIFLHFL is not looking to listit’s equity in stock exchanges.IIFLHFL will also not look atacquisitions for growth, headded.

Last fi�scal, the companyhad recorded net profi�t of₹�401 crore. In the fi�rst half ofthis fi�scal, IIFLHFL had recorded net profi�t of ₹�284 crore,Ratra said.

Company aims at

20 per cent AUM

growth in each of

the next 3 years

IIFL Home Finance sees‘tremendous’ comeback

Monu Ratra, CEO & ED,

IIFL Home Finance



SBI Cards and Payment Services (SBI Card) on Friday saidit has raised ₹�650 crore by issuing bonds on a privateplacement basis.

“We hereby inform thatstakeholders’ relationshipand customer experiencecommittee of the companyhas approved the allotment,”SBI Card said in a release.

The bonds, bearing interestat 5.82 per cent, have a tenureof three years and are set formaturity on December 24,2024.

SBI Card stock was tradingnearly fl�at at ₹�906 on the BSE.

SBI Card raises₹�650 crore viabond issue

OUR BUREAU

Mumbai, December 24

Government Securities yieldsmoved up on Friday as the Reserve Bank of India devolvedthree out of four securities onprimary dealers (PDs) at theweekly auction in the backdropof upward pressure on yields.

PDs had to pick up the threeGSecs — 4.56 per cent (couponrate) GS 2023, 5.74 per cent GS2026, and 6.67 per cent GS 2035— accounting for 42.75 per cent(₹�7,268 crore) of the aggregatenotifi�ed amount of ₹�17,000crore raised through auction.

RBI devolves GSec auctions,either partially or fully, on PDswhen the bids are not in linewith the prevailing yields.

Market players want to buyGSecs at lower price or higheryield. However, the RBI, in itsrole as debt manager to the government, tries to keep the

yields on a tight leash to limitthe government’s cost ofborrowing.

This comes in the wake ofyields in the secondary marketrising ever since the US Fed signalled a hawkish stance and RBIhas stepped up VRRR auctionsto suck out surplus liquidityfrom the banking system.

The auction of the fourth GSec (6.99 per cent GS 2051)sailed through, with the government mopping up ₹�7,000crore.

The auction devolvementhad its impact on the secondary market, with the yield onthe widely traded 6.67 per centGS 2035 rising about 2 basispoints to close at 6.8992 percent and its price falling about19 paise to close at ₹�97.9625.

The yield and price of the 10year benchmark GSec (6.10 percent GS 2031) hardly moved asthe government has raised almost ₹�1.50lakh crore via this security and the RBI is expected toissue a new 10year benchmark.

4th GSec auction

raised ₹�7,000 crore

G-Sec yields rise as RBIdevolves three securities

KR SRIVATS


SBI Foundation, the CSR armof State Bank of India, and Social Alpha have jointlylaunched the challenge‘Techtonic: Innovations in Assistive Technology’ for innovators and entrepreneursworking on products and services that address the diffi�culties faced by people withdisabilities and enable them

to lead an empowered life. Theprogramme will extend support to 10 startups towardsaccelerating their labtomarket journey. Of these, the top 4will receive ₹�15 lakh and incubation support for 1 year.

The challenge focuses onvisual impairment, developmental disorders and chronicneurological conditions, locomotor disabilities, and speechand hearing disabilities.

Manjula Kalyansundaram,Managing Director & CEO, SBIFoundation, told BusinessLinethat the mission of the programme was to create an inclusive environment for per

sons with disabilities. Theinitiative will seek to ensurethat assistive tech solutionsare sustained and scaled upacross India.

The challenge is structuredto support earlystage assistive technology startups. Theywill be provided with ₹�15 lakhfor ideating, prototyping andgrowth. They will also get access to R&D labs for prototyping and infrastructure forscaledup manufacturing; access to mentors, incubationfacilities, industry players andendusers for product testing;and business model validation.

Each of top 4 to

receive ₹�15 lakh,

incubation support

for one year

SBI Foundation, Social Alpha launchchallenge for assistive tech start-ups

................BMBMECMYK

MUMBAI

BusinessLineSATURDAY • DECEMBER 25 • 2021 5MARKET RADAR

For BSE/NSE live quotes, scan

the QR code or click the link

https://bit.ly/2FpossK

Canara Bank: ₹�2,500cr via bondsNew Delhi, December 24

Canara Bank on Friday said it has raised ₹�2,500

crore by issuing BaselIII compliant bonds to 10

investors. The bank has successfully raised

BaselIII compliant tierII series I bonds, Canara

Bank said in a regulatory fi�ling. “Our bank came

out with the issuance of ₹�2,500 crore of tierII

bonds on December 12. The bank received a

total bid amount of ₹�9,374 crore, out of which

full issuance of ₹�2,500 crore was accepted at a

coupon rate of 7.09 per cent per annum,” the

bank said. The issue opened on December 23

and closed on the same day. Canara Bank stock

settled at ₹�193.90 apiece on BSE, down 3.27 per

cent over previous close. PTI

QUICKLY

BusinessLine is not responsible for the recommendations

sourced from third party brokerages. Reports may be sent

to: [email protected]

KOTAK SECURITIESMotherson Sumi (Buy)Target: ₹�255CMP: ₹�214.75Given the recent correction in MothersonSumi Systems, we upgrade the stock to Buy(from Add). We believe the company iswellplaced to capitalise on the recovery inauto demand and improvement in chipsupply from H2CY22 onwards.The company is wellpoised to benefi�t overthe medium term from increase inelectronics content per vehicle in passengervehicles, strong relationship with OEMs, shifttowards electric vehicles and consolidationof suppliers, especially in the plasticcomponent industry globally.The Samvardhana Motherson AutomotiveSystems Group BV (SMRPBV) business hasmajorly been impacted due to supplysidepressures faced by its key customers such asDaimler, Volkswagen group, Hyundai, amongothers, which is expected to improve fromH2CY22 onwards with chip sectormanufacturing capacity enhancements.Demand conditions continue to remainstrong on account of improved consumerconfi�dence, preference for personal mobilityand ongoing economic recovery. Even as theglobal automotive industry is expected togrow by 7 per cent CAGR, we expect SMRPBV’srevenues to grow by 11 per centCAGR led byrampup of greenfi�eld plants, higher contentgrowth and market share gains.

BROKER’S CALL

HDFC SECURITIESBharat Bijlee (Buy)Target: ₹�2,148CMP: ₹�1,846.85Bharat Bijlee is one of the leaders in theelectrical engineering industry in India. Thecompany has two primary businesssegments: Power Systems ( nearly 40 percent) that comprise Transformers andProjects divisions; and Industrial Systemssegment about 60 per cent) comprisingElectric Motors, Drives & IndustrialAutomation and Elevator Systems divisions.Visibility of higher spending in powertransmission business could benefi�t BBL interms of higher order fl�ows and execution;which enjoys higher repeat orders. Strongunexecuted order book in motor businessprovides revenue visibility.We like BBL for its status as one of theleading players in transformer segment andenergy effi�cient motors business coupledwith favourable liquidity position andcapital structure. Favourable governmentschemes like Deendayal Upadhyaya GramJyoti Yojana (DDUGJY) and Integrated PowerDevelopment Scheme (IPDS) coupled withlikely capex revival in power and capitalgoods sector would augur well for thecompany.The company’s balance sheet is healthy onthe back of listed equity holdingsRecoveryin capex cycle and raw material pricepressures would be key monitorables..

SURESH P IYENGAR/SURABHI

Mumbai, December 24

The acquisition of L&T Mutual Fundwill catapult HSBC Asset Management Company to the 12th positionfrom the 21st, with combined assetsof over ₹�92,400 crore as of Novemberend.

Rationalisation of schemesRavi Menon, CEO, HSBC Global AssetManagement Company (India),told BusinessLine the entire deal requires several regulatory approvals,which will take a few months andthe integration process of the acquired asset will start with rationalisation of schemes.

L&T Mutual Fund has about 29openended schemes of which 17 arecommon with HSBC AMC andhence these funds will have to be

merged, he said, adding that otherschemes which are unique on bothsides will continue.

“We will ensure that the rationalisation of schemes will be done withthe least disruption to investors ofthe fund houses,” he added.

HSBC AMC has presence largely inmajor metros but the acquisitionwill deepen the penetration withL&T Mutual Fund having offi�ces in

35 diff�erent cities, which will helpsupport investors and over 50,000distribution partners.

Going forward, he said, the natural extension of the deal is to leverage on L&T Mutual Fund’s presenceand widen the reach beyond top 30cities.

Investments in equity mutualfund schemes will continue to remain robust despite the marketvolatility and in fact the strong infl�ows from retail investors throughmutual funds has acted as a counterforce holding the markets when foreign investors booked profi�t, saidMenon.

Fixed income may gain Investment through systematic investment plan has hit a new highand is a refl�ection of investors gaining confi�dence in investmentthrough mutual funds, he added.The fi�xed income space is somewhat muted because of low interest

rate scenario, but going forward itwill gain prominence with rates getting rationalised.

Investors have had a very positiveexperience over the last two yearsand those who had stayed investeddespite experiencing most volatiletimes have been rewarded handsomely, he said.

There is also an increasing recognition in the last few years that thevolatility is refl�ective of the high returns and going forward returnsmay perhaps be more muted. Aslong as that realisation is there,there will be less a reason for anydisappointment, said Menon.

“We have seen a large number ofretail investing directly into thestock markets, but with passage oftime, there is a realisation that thisactivity takes a fair bit of time and itbecomes very diffi�cult in a volatilemarket. These investors now consider that they are better off� investing through mutual funds,” he said.

Combined assets

stand at ₹�92,400 cr

Post acquisition of L&T Mutual Fund,HSBC AMC will become 12th largest

Ravi Menon, CEO, HSBC Asset

Management (India) Pvt Ltd

OUR BUREAU

Mumbai, December 24

Benchmark indices ended theweek in red after three consecutive sessions of gains amid volatility. Market opened on a volatilenote despite positive global cuesas concerns related to risingOmicron cases spooked investors.

The BSE Sensex closed at57,124.31, down 190.97 points or0.33 per cent. The Nifty 50 closedat 17,003.75, down 68.85 points or0.4 per cent.

Breadth favours declinersThe market breadth turned negative with 1,751 stocks decliningon the BSE as against 1,573 advanced while 102 remained unchanged.

S Ranganathan, Head of Re

search at LKP Securities, said, “Arangebound day of tradingahead of Christmas to end theweek as this month quite clearlybelonged to the IT sector whichstood tall amidst extreme volatility as costpush infl�ation acrosssectors is keeping street worriedon the impact in the hands of theconsumer.”

PLI schemes While buoyancy in exports andtax collections coupled with thesuccess of the PLI schemes arepositives, there are many sectorswhere consolidation is waiting tohappen which is where longerterm investors need to focus inthe present corrective phase, Ranganathan said.

HCL Tech, Tech Mahindra, SBILife, Asian Paints and Wipro werethe top gainers on the Nifty 50,while Grasim, NTPC, Eicher Motors, ONGC and M&M were the toplaggards.

Realty, Auto, PSU

Bank, Pharma

drag; IT in focus

Sensex, Nifty drift lower;volatility up marginally

Nifty 50 Movers H 68.85 pts.Close(₹�) Pts PE Wt(%)

HCL Tech . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1265.20. . . . . . . . . . 9.45. . . . . . . . . 29.69 . . . . . . . . 1.86Tech Mahindra. . . . . . . . . . . . . . . . . . . . .. . 1723.80. . . . . . . . . . 5.72. . . . . . . . . 33.16 . . . . . . . . 1.45Reliance Ind. . . . . . . . . . . . . . . . . . . . . . . . .. . 2372.80. . . . . . . . . . 5.63. . . . . . . . . 25.42 . . . . . . 10.40Infosys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1863.50. . . . . . . . . . 5.04. . . . . . . . . 37.95 . . . . . . . . 9.37SBI Life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1148.20. . . . . . . . . . 2.31. . . . . . . . . 92.99 . . . . . . . . 0.69TCS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 3670.90. . . . . . . . . . 1.96. . . . . . . . . 37.01 . . . . . . . . 5.16Asian Paints. . . . . . . . . . . . . . . . . . . . . . . . .. . 3284.80. . . . . . . . . . 1.76. . . . . . . . . 95.05 . . . . . . . . 2.01ITC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 218.00. . . . . . . . . . 1.41. . . . . . . . . 18.50 . . . . . . . . 2.59Wipro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 698.45. . . . . . . . . . 1.33. . . . . . . . . 31.50 . . . . . . . . 1.40JSW Steel . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 651.30. . . . . . . . . . 0.24. . . . . . . . . . . 7.90 . . . . . . . . 0.88Nestle India Ltd. . . . . . . . . . . . . . . . . . .19224.20. . . . . . . . . . 0.13. . . . . . . . . 82.69 . . . . . . . . 0.93Hero MotoCorp. . . . . . . . . . . . . . . . . . . .. . 2392.45. . . . . . . . 0.01. . . . . . . . . 16.38 . . . . . . . . 0.42Shree Cement. . . . . . . . . . . . . . . . . . . . . .26310.95. . . . . . . . 0.07. . . . . . . . . 36.15 . . . . . . . . 0.48Cipla . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 908.30. . . . . . . . 0.17. . . . . . . . . 28.37 . . . . . . . . 0.63Britannia Ind. . . . . . . . . . . . . . . . . . . . . . . .. . 3541.30. . . . . . . . 0.36. . . . . . . . . 53.93 . . . . . . . . 0.57Bajaj Auto . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 3152.05. . . . . . . . 0.66. . . . . . . . . 14.08 . . . . . . . . 0.56HDFC Life . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 637.35. . . . . . . . 0.68. . . . . . . 114.32 . . . . . . . . 0.80Hind Unilever. . . . . . . . . . . . . . . . . . . . . . .. . 2296.95. . . . . . . . 0.76. . . . . . . . . 64.16 . . . . . . . . 2.78Hindalco . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 458.90. . . . . . . . 0.81. . . . . . . . . . . 9.69 . . . . . . . . 0.91Coal India . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 145.90. . . . . . . . 0.87. . . . . . . . . . . 6.53 . . . . . . . . 0.41Divis Lab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 4447.25. . . . . . . . 0.92. . . . . . . . . 55.27 . . . . . . . . 0.77Bharti Airtel. . . . . . . . . . . . . . . . . . . . . . . . .. . . . 677.05. . . . . . . . 0.93. . . . . . . . . . . 0.00 . . . . . . . . 2.17UPL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 746.85. . . . . . . . 1.00. . . . . . . . . 14.91 . . . . . . . . 0.56Titan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 2319.45. . . . . . . . 1.01. . . . . . . 117.20 . . . . . . . . 1.31TataConsumerProducts Ltd.. . . . 718.95. . . . . . . . 1.08. . . . . . . . . 83.05 . . . . . . . . 0.58Indian OilCorp . . . . . . . . . . . . . . . . . . . . .. . . . 110.25. . . . . . . . 1.11. . . . . . . . . . . 4.05 . . . . . . . . 0.38BPCL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 372.15. . . . . . . . 1.14. . . . . . . . . . . 4.34 . . . . . . . . 0.48Eicher Motors . . . . . . . . . . . . . . . . . . . . . .. . 2437.90. . . . . . . . 1.36. . . . . . . . . 39.93 . . . . . . . . 0.46IndusInd Bank . . . . . . . . . . . . . . . . . . . . .. . . . 861.15. . . . . . . . 1.39. . . . . . . . . 17.01 . . . . . . . . 0.71Adani Ports . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 722.40. . . . . . . . 1.51. . . . . . . . . 28.33 . . . . . . . . 0.72Dr Reddys Lab . . . . . . . . . . . . . . . . . . . . .. . 4638.65. . . . . . . . 1.57. . . . . . . . . 39.35 . . . . . . . . 0.76ONGC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 138.50. . . . . . . . 1.68. . . . . . . . . . . 4.32 . . . . . . . . 0.69Sun Pharma . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 785.40. . . . . . . . 1.76. . . . . . . . . 30.17 . . . . . . . . 1.15Tata Motors . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 467.60. . . . . . . . 1.96. . . . . . . . . . . 0.00 . . . . . . . . 1.14Maurti Suzuki . . . . . . . . . . . . . . . . . . . . . .. . 7317.10. . . . . . . . 2.15. . . . . . . . . 52.63 . . . . . . . . 1.32Tata Steel . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1115.45. . . . . . . . 2.20. . . . . . . . . . . 4.01 . . . . . . . . 1.18PowerGrid Corp . . . . . . . . . . . . . . . . . . .. . . . 205.40. . . . . . . . 2.33. . . . . . . . . . . 8.81 . . . . . . . . 0.95UltraTech Cement. . . . . . . . . . . . . . . .. . 7224.80. . . . . . . . 3.08. . . . . . . . . 32.74 . . . . . . . . 1.13M&M . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 812.65. . . . . . . . 3.13. . . . . . . . . 20.40 . . . . . . . . 1.05Bajaj Finserv . . . . . . . . . . . . . . . . . . . . . . . .15920.55. . . . . . . . 3.48. . . . . . . . . 34.91 . . . . . . . . 1.31NTPC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 121.25. . . . . . . . 3.62. . . . . . . . . . . 7.51 . . . . . . . . 0.78Bajaj Finance . . . . . . . . . . . . . . . . . . . . . . .. . 6852.00. . . . . . . . 4.03. . . . . . . . . 83.11 . . . . . . . . 2.47Grasim Ind . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1610.90. . . . . . . . 4.29. . . . . . . . . 11.60 . . . . . . . . 0.83State Bank . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 456.95. . . . . . . . 4.29. . . . . . . . . 13.52 . . . . . . . . 2.38HDFC Bank . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1438.90. . . . . . . . 5.25. . . . . . . . . 23.25 . . . . . . . . 8.54L&T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1859.40. . . . . . . . 5.31. . . . . . . . . 25.53 . . . . . . . . 3.05Axis Bank. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 667.50. . . . . . . . 6.71. . . . . . . . . 20.31 . . . . . . . . 2.33ICICI Bank . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 727.10. . . . . . . . 6.72. . . . . . . . . 22.02 . . . . . . . . 6.84Kotak Bank . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1748.40. . . . . . . . 9.20. . . . . . . . . 34.72 . . . . . . . . 3.48HDFC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 2534.55. . . . . . 15.23. . . . . . . . . 20.44 . . . . . . . . 6.20

Pts: Impact on index movement

Nifty Next 50 Movers H 437.95 pts.Close(₹�) Pts PE Wt(%)

Larsen & Toubro Info . . . . . . . . . . .. . 7166.55. . . . . . . . 20.83. . . . . . . . . 59.40 . . . . . . . . 2.70Adani Enter. . . . . . . . . . . . . . . . . . . . . . . . . .. . 1698.20. . . . . . . . 20.80. . . . . . . 164.43 . . . . . . . . 3.87Vedanta . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 345.80. . . . . . . . . . 8.05. . . . . . . . . . . 5.60 . . . . . . . . 3.73Gland Pharma . . . . . . . . . . . . . . . . . . . . .. . 3893.85. . . . . . . . . . 3.67. . . . . . . . . 57.24 . . . . . . . . 1.18Info Edge (India) .. . . . . . . . . . . . . . . .. . 5399.55. . . . . . . . . . 3.56. . . . . . . . . . . 8.17 . . . . . . . . 3.46IPrulife . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 564.35. . . . . . . . . . 2.27. . . . . . . 129.29 . . . . . . . . 1.81Godrej Consumer . . . . . . . . . . . . . . . .. . . . 966.25. . . . . . . . . . 1.89. . . . . . . . . 56.12 . . . . . . . . 3.03Sbi Cards And Pay Srv . . . . . . . .. . . . 907.25. . . . . . . . 0.06. . . . . . . . . 82.53 . . . . . . . . 1.26Proc & Gam . . . . . . . . . . . . . . . . . . . . . . . . .14686.80. . . . . . . . 0.50. . . . . . . . . 77.37 . . . . . . . . 0.85Intglobeavi . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1967.60. . . . . . . . 0.68. . . . . . . . . . . 0.00 . . . . . . . . 1.57Jindal Steel . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 384.30. . . . . . . . 1.75. . . . . . . . . . . 4.16 . . . . . . . . 1.30Colgate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1457.65. . . . . . . . 3.39. . . . . . . . . 37.21 . . . . . . . . 1.61Ambuja Cements . . . . . . . . . . . . . . . . .. . . . 367.90. . . . . . . . 3.79. . . . . . . . . 17.20 . . . . . . . . 2.24Marico . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 505.60. . . . . . . . 4.26. . . . . . . . . 53.54 . . . . . . . . 2.16Hdfc Asset Mgmt Cmp .. . . . . . .. . 2349.10. . . . . . . . 5.56. . . . . . . . . 36.41 . . . . . . . . 1.08Pidilitind . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 2410.20. . . . . . . . 5.87. . . . . . . . . 90.92 . . . . . . . . 3.04Indraprastha Gas . . . . . . . . . . . . . . . .. . . . 494.25. . . . . . . . 6.32. . . . . . . . . 23.80 . . . . . . . . 1.43Hpcl . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 291.65. . . . . . . . 6.91. . . . . . . . . . . 4.42 . . . . . . . . 1.54Acc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 2126.05. . . . . . . . 7.19. . . . . . . . . 19.43 . . . . . . . . 1.49Avenuesuper . . . . . . . . . . . . . . . . . . . . . . .. . 4628.90. . . . . . . . 7.20. . . . . . . 218.24 . . . . . . . . 4.23Muthoot Finance . . . . . . . . . . . . . . . .. . 1472.85. . . . . . . . 7.95. . . . . . . . . 14.73 . . . . . . . . 1.32Bajaj Holdings . . . . . . . . . . . . . . . . . . . . .. . 5021.65. . . . . . . . 7.99. . . . . . . . . 13.70 . . . . . . . . 1.54Berger Paints India . . . . . . . . . . . . .. . . . 740.90. . . . . . . . 8.06. . . . . . . . . 85.34 . . . . . . . . 1.49Dlf. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 379.60. . . . . . . . 8.72. . . . . . . . . 57.24 . . . . . . . . 1.95Bandhan Bank . . . . . . . . . . . . . . . . . . . . .. . . . 255.05. . . . . . . . 9.19. . . . . . . . . . . 0.00 . . . . . . . . 1.43Nmdc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 132.60. . . . . . . . 9.23. . . . . . . . . . . 3.70 . . . . . . . . 1.26Piramal Ent. . . . . . . . . . . . . . . . . . . . . . . . . .. . 2576.80. . . . . . . . 9.39. . . . . . . . . 49.23 . . . . . . . . 2.60Yes Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . 13.25. . . . . . . . 9.75. . . . . . . . . . . 0.00 . . . . . . . . 1.04Havells. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1361.05. . . . . . 10.12. . . . . . . . . 71.50 . . . . . . . . 2.82Pi Industries . . . . . . . . . . . . . . . . . . . . . . .. . 2902.90. . . . . . 10.27. . . . . . . . . 55.61 . . . . . . . . 1.93Cadila Health. . . . . . . . . . . . . . . . . . . . . . .. . . . 453.30. . . . . . 10.30. . . . . . . . . 19.34 . . . . . . . . 0.96Indus Towers .. . . . . . . . . . . . . . . . . . . . . .. . . . 249.80. . . . . . 10.42. . . . . . . . . 12.66 . . . . . . . . 1.67Bosch . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16483.90. . . . . . 10.99. . . . . . . . . 37.40 . . . . . . . . 1.17Bank Of Baroda . . . . . . . . . . . . . . . . . . .. . . . . 79.45. . . . . . 11.20. . . . . . . . . 10.57 . . . . . . . . 1.23Dabur India. . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 563.70. . . . . . 11.53. . . . . . . . . 54.92 . . . . . . . . 2.72Punjab Natl Bank . . . . . . . . . . . . . . . . .. . . . . 36.85. . . . . . 11.75. . . . . . . . . 10.66 . . . . . . . . 0.91Icici Lombard Gic . . . . . . . . . . . . . . . . .. . 1340.35. . . . . . 11.84. . . . . . . . . 52.28 . . . . . . . . 2.83Apollo Hosp . . . . . . . . . . . . . . . . . . . . . . . . .. . 4842.50. . . . . . 12.13. . . . . . . . . 64.94 . . . . . . . . 4.04Lupin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 897.75. . . . . . 12.16. . . . . . . . . . . 0.00 . . . . . . . . 1.79Gail (India) . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 130.85. . . . . . 12.52. . . . . . . . . . . 6.14 . . . . . . . . 1.97Sail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 108.80. . . . . . 12.92. . . . . . . . . . . 3.41 . . . . . . . . 1.30Aurobindo Pharma . . . . . . . . . . . . . .. . . . 708.45. . . . . . 14.17. . . . . . . . . . . 7.96 . . . . . . . . 1.65Siemens. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 2374.35. . . . . . 15.23. . . . . . . . . 80.52 . . . . . . . . 1.75United Spirits . . . . . . . . . . . . . . . . . . . . . .. . . . 886.35. . . . . . 18.23. . . . . . . . . 78.51 . . . . . . . . 2.19Torrent Pharma . . . . . . . . . . . . . . . . . . .. . 3046.20. . . . . . 19.62. . . . . . . . . 40.69 . . . . . . . . 1.24Jubilant Foodworks . . . . . . . . . . . . .. . 3434.25. . . . . . 26.37. . . . . . . 108.40 . . . . . . . . 2.18CholamandaInves&Finance .. . . . 520.05. . . . . . 26.54. . . . . . . . . 26.77 . . . . . . . . 1.70Biocon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 354.45. . . . . . 31.21. . . . . . . . . 56.57 . . . . . . . . 1.34Adani Transmission .. . . . . . . . . . . .. . 1768.40. . . . . . 37.80. . . . . . . 134.86 . . . . . . . . 2.98Adani Green Energy . . . . . . . . . . . .. . 1385.40. . . . . . 37.90. . . . . . . 466.62 . . . . . . . . 3.45

Pts: Impact on index movement

KS BADRI NARAYANAN


Several market experts believethat Indian stock markets arelikely to continue to rise in2022 as well, citing some positive factors — such as a pickupin domestic economy, China+1strategy adopted by global investors as global companieswant to overcome supplychain disruptions and dependence on China, the continuous reform agenda pursued by the Uniongovernment and stable policyregime.

However, we highlight keyrisk factors that can poten

tially change the direction ofthe current bullish market.

The foremost among themis the US Federal Reserve’spolicy decisions. Though theUS Fed has not hiked rates sofar, it has already signalled ahawkish stance next year. It expects to raise policy rates threetimes in 2022 and three timesin 2023 based on median projections. Besides, the US central bank has also announcedplans to taper its bond purchases. If US Fed acts morequickly on these fronts, thenthat could arrest easy liquidityand hurt emerging marketssuch as India more, which until now enjoyed a free fl�ow offoreign funds.

The next major factor isnewer variants of Covid19.Despite Covid being a factorfor over two years now andrising vaccination coverage ofpeople across the globe, thereare no signs that it will goaway anytime soon. With new

variants emerging every nowand then, the virus is takingnew names and shapes, noone knows when the worldwill be out of this majorthreat. Any more potent variant could threaten global economic recovery.

Investors should also watchout for infl�ation numbers. Oflate, infl�ation is rising both domestically and globally. Bothconsumer price index andwholesale price index havebeen climbing in the recentpast. November headline CPIinfl�ation rose sharply to 4.91per cent and the wholesaleprice infl�ation to over 14 percent. India Inc is facing inputcost pressure and if ReserveBank of India resorts to ratetightening, then it will act as adouble whammy for earnings.

The last two months havewitnessed increased sellingpressure from foreign portfolio investors. For the 28thstraight day (on December

24), FIIs remained net sellersin Indian cash segment.Though their selling sloweddown a bit in the last couple ofdays, they don’t seem to bevery comfortable with Indianmarket valuation. A CreditSuisse report said that, compared to the last fi�veyear average, the Nifty index is currently trading at a 9.3 per centhigher valuation or 20.1 (as ofDecember 17) and at the peak,the valuation touched 22.8times in October.

Another important factor isthe outcome of the Uttar Pradesh assembly election. If theruling BJP government losesthe poll, then that will pushthe Centre to rethink on its reform agenda. Any signal of going slow on reforms will hurtmarket sentiment badly. Oneof the major reasons why investors are betting on Indianequities is the continuous reform agenda of the currentgovernment.

5 key risk factors one should watch out for in ’22Eyes on US Fed,

domestic infl�ation,

reform progress, UP

election outcome

RINGSIDE VIEW

OUR BUREAU


Chennaibased Data Patterns(India) made a stellar market debut on Friday, listingat a premium of 48 per centover its issue price on theBSE.

The stock of the company,which is a specialist in defence and aerospace electronics system, listed at₹�864 apiece on BSE, a 48 percent premium over its issueprice of ₹�585. On the National Stock Exchange (NSE)too, it opened at ₹�856.05, apremium of 46 per cent overits issue price.

However, the stock priceof Data Patterns fell soonafter its listing as tradingtrade was volatile amidrising number of Omicron

variant cases, selloff� by FPIsand muted global cues. Thestock closed at ₹�754.85apiece on BSE, 12.63 per centlower from its listing price.It touched an intraday lowof ₹�744.05.

On the BSE, 10.44 lakh

shares, and on the NSE,about 1.35 crore shareschanged hands.

Overwhelming responseThe bumper listing of DataPatterns is not surprisinggiven the overwhelming re

sponse it witnessed from allcategory ofi� nvestors in thesubscription stage.

Several brokerage housesgave ‘subscribe’ rating to theissue.

Data Patterns’ initial public off�ering (IPO) compriseda fresh issue of shares worth₹�240 crore and an off�er forsale (OFS) of 59.52 lakhequity shares by promotersand individual selling shareholders.

As against the off�er of70,97,285 equity shares, it received bids for 84,89,85,725shares.

While the noninstitutional investors portion wassubscribed 254.22 times, theportion set aside for Qualifi�ed institutional buyers wassubscribed 190.86 times. Retail investors had put in bidfor 23.14 times the shares reserved for them. Overall, theissue was subscribed 119.62times.

Data Patterns ends 12.6% higher on Day 1 at ₹�754.85After listing with

48% gain, stock

sees profi�t booking

Srinivasagopalan Rangarajan, Chairman and Managing Director of

Data Patterns (India) Ltd and Rekha Murthy Rangarajan, Wholetime

Director, at the listing ceremony of the company’s shares on the

NSE on Friday.

PALAK SHAH

Mumbai, December 24

The Securities and AppellateTribunal (SAT) has called the actions by market regulator SEBIas ‘judicial dishonesty’, namely,sending show cause notices totraders 12 years after the alleged incidents of share pricemanipulation and insider trading. This is the second instancethis month of SAT calling outSEBI on its casual approach tolegal proceedings.

In an earlier order SAT hadtermed SEBI’s actions as ‘clearabuse of judicial proceedings.’

SecondinstanceFor the fi�rsttime, SAT hasasked the SEBIadjudicatingoffi�cer (AO) tofi�le a sworn affi�davit for notconsidering arguments ondelay in action submitted bynoticee.

This is the second rare instance where SAT has takenstern steps against SEBI forlapse in legal procedures.Earlier this month, SAT imposed a penaltylike cost of ₹�2lakh on SEBI to be paid to eachof the four appellants for unnecessary waste of their time andclear abuse of the process ofthe court.

In the case involving a 12yeardelay in show cause notice, SATjudges Tarun Agarwala and MTJoshi said in an order onDecember 16 that SEBI adjudicating offi�cer (AO) had dealtwith proceedings against oneYatin Pandya in a casual manner. SAT stayed the eff�ect andoperation of the SEBI orderagainst the appellant.

Sterling Biotech caseSAT observed that SEBI did nottake into consideration a specifi�c plea by Pandya, where hehad argued that the SEBI pro

ceedings initiated against himwere belated.

SAT observed that SEBI had issued its show cause notice toPandya in February 2020 forcertain alleged violations ormanipulative trading between2008 and 2009 in the shareprice of Sterling InternationalEnterprises. The trading involved the members of thenow infamous Sandesaragroup of Sterling Biotechwhose promoters Nitin andChetan Sandesara fl�ed to Nigeria allegedly after syphoning₹�15,000 from the banks. SEBIobserved in its investigationsthat 29 connected entities including Pandya had tradedamong themselves repeatedlyon a daily basis between 2008and 2009.

Pandya argued, saying,“There hasbeen inordinate delayin issuing theshow causenotice. I amunable to collate exact circumstancesand situations whichmay have

happened in the distant past.This puts me in a disadvantageous position to adequately clarify on the matter and defendthe allegations against me.

Therefore, on this groundalone, I request a lenient viewbe taken and the aforesaidshow cause notice against memay be withdrawn or alternatively I may be exonerated asalso upheld by SAT in variousappeals.”

SAT considered this argument of Pandya as meeting themerits since the tribunal hascleared its positions on delayedaction by SEBI in its past judgement. But SEBI did not take thisunder consideration, whichirked the SAT. In another judgement where SAT imposed a coston SEBI and called its actionsabuse of law, it was observedthat SEBI had asked four entities to release unlawful gains of₹�4.55 crore with 10 per cent perannum with eff�ect from ‘August 1, 2002’ till the date ofpayment.

SAT pulls up SEBI forsending notices 12 yearsafter insider trading eventTribunal terms itjudicial dishonesty;asks SEBI officer tofi�le sworn affidavit

REUTERS

December 24

Stock markets in Europeand Asia cemented gains inlight holiday trade on Friday, while the safehavendollar eased on signs theOmicron variant would notsignifi�cantly derail globaleconomic growth.

The green back was set forits worst week in fourmonths while other riskfriendly assets from bitcointo the Australian dollar heldonto their recent gains,buoyed by ebbing concernsover the severity of the newCovid19 variant.

A top European equitybenchmark hoveredaround one month highsafter a week of gains and theMSCI’s broadest index ofAsiaPacifi�c shares outsideJapan added 0.1 per cent,after a record closing highfor S&P 500 on Thursday.

Even though it is highly

infectious, studies haveshown how Omicron is lesssevere than the Delta strain,fuelling optimism about alimited fallout from new restrictions, and setting theMSCI world equity index for a2 per cent weekly gain.

“The most popular motivation (for the rally) is thegrowing perception thatOmicron is less lethal. Thiscertainty helped risk appetite return, but selffulfi�llingexpectations ofChristmasrallies and reduced liquidityalso came in play,” said Giuseppe Sersale, fund manager at Anthilia in Milan.

"I still think the news onOmicron is good, but not asgood as the market is taking

it. So it really depends onhow much the contagionswill fl�y," he added.

US markets shutThe US equity and Treasurymarkets will be closed on Friday for the holiday. InEurope, stock markets in several countries including Germany, Italy and Switzerlandwere also shut, while boursesin London and France tradeonly half day.

Stephane Ekolo, strategistat Tradition in London, saidhe would not read too muchin market moves going intoyear end given the thinvolumes, noting how the upward trend was clouded byuncertainties ranging frominfl�ation to central bankpolicy.

The U.S. Federal Reservesaid last week it would accelerate tapering of its massivebond buying programmeand paved the way for threeinterest rate hikes in 2022,but this did not roil marketsas it did in 2013 when the Fedtapered its post fi�nancialcrisis quantitative easing.

Fading Omicron concerns set upglobal equities for weekly gainGreenback set forits worst week in four months



Markets regulator SEBI onFriday imposed fi�netotalling nearly ₹�17 crore onCals Refi�neries Ltd, its offi�cials and one entity in a matter relating to manipulation in the issuance ofglobal depository receipts(GDRs).

Cals Refi�neries had issued78.8 lakh GDRs amountingto $200 million and the issue had closed on December12, 2007.

GDR manipulationThe scheme of arrangementof Cals, in allotting GDR issue to only one entity HonorFinance Ltd which subscribed to the GDR issues byobtaining loans from BancoEfi�sa and which were se

cured by Cals Refi�neries bypledging its GDR proceeds,seen along with the false andmisleading corporate announcements made by Calsstating that the GDR was issued and allotted withoutdisclosing the crucial detailslead to a conclusion that thesame were done in a fraudulent manner, SEBI noted.

Honor was benefi�ciallyowned by Sanjay RaiMalhotra.

Further, Cals paid $92 million to a promoter controlled entity – Asia Texx Enterprises Ltd, whosebenefi�cial owner GaganRastogi was one of the promoters of Cals. Gagan is alsothe son of Deep KumarRastogi, who was a directorof Cals.

The transaction between

Cals and Asia Texx appears tohave been structured tosettle the outstanding liability of Honor to Banco usingfunds of Cals, the ordernoted.

Directors of the fi�rm hadplayed the major role fromthe side of Cals with regardto the issuance of the GDRsin a fraudulent manner andthe subsequent fraudulenttransaction with Asia Texx, itadded.

Accordingly, SEBI haslevied a total fi�ne of ₹�16.8crore on the entities.

Those facing fi�ne apartfrom the fi�rm are Asia TexxEnterprises Ltd, DevanathanSundararajan, GaganRastogi, Deep KumarRastogi, Sarvesh KumarGoorha, Ravi Chilukuri andSanjay Rai Malhotra.

SEBI levies ₹�17 crore fi�ne on Cals Refi�neries, its officials

................BM-BMECMYK

THINKMUMBAI

6 BusinessLine SATURDAY • DECEMBER 25 • 2021

The sharp surge in gold imports this fi�scalonce again turns the spotlight on the needto fi�nd alternative avenues to meet the insatiable demand of Indians for the yellow

metal. With consumers on a buying spree after thesecond wave of the pandemic, gold imports betweenApril and November 2021 was at a nineyear high of$33.23 billion — around 50 per cent higher than in thecorresponding period in 201920. The last time goldimports crossed $30 billion in the fi�rst eight monthsof the fi�scal year was in 201213. The Reserve Bank ofIndia was then forced to take drastic measures tocurb imports including hiking import duty sharplyand laying down that 20 per cent of gold importedshould be exported as jewellery. The RBI’s actionswere prompted by current account defi�cit expandingto 4.8 per cent of GDP and the rupee depreciatingsharply. The surging gold imports this year could alsoturn problematic as the trade defi�cit has expandedsince September, hitting a multidecade low inNovember 2021. The rupee is also under pressure dueto the rising trade defi�cit as well as continued foreign

portfolio outfl�ows. High gold imports is a struc

tural issue in India. A recent reportby the World Gold Council pointed out that gold imports by Indiahave been consistently high since2012, averaging 760 tonnes per

year. This is because the domestic supply is limited,with imports meeting almost 86 per cent of domesticdemand. It is clear that the Centre needs to fi�nd longterm sustainable solutions to increase the domesticsupply. The obvious way to do so is to bring some ofthe 25,000 tonnes of gold held by households andtemples into circulation. The Centre needs to consider another gold monetisation scheme (GMS) thatoff�ers higher returns compared with the previousschemes and is better tuned to the feeling and emotions of consumers. A scheme that promises that another equivalent piece of jewellery will be returnedto the customer at the end of the deposit periodcould fi�nd more takers since the biggest drawback ofthe ongoing GMS is that the customer loses the jewellery and gets a gold coin or bar at the end of thescheme. Building greater awareness towards nonphysical forms of gold such as sovereign gold bondsand gold exchange traded funds will also help reduceinvestmentled demand for physical gold to someextent.

It may also be a good idea to set up bullion banksthat focus on gold loans to retail and rural customers. The prime function of these banks will be to mobilise the surplus gold with citizens through goldmonetisation schemes. They can also buy and sellgold in the bullion exchanges being set up in Indiaand in the off�shore business centre in GIFT City, thusimparting liquidity to these exchanges.

Billions on bullion

A long-term solution needs to be found forcontrolling gold imports; a bullion bank can help

0x y z

saturday, december 25, 2021

Farmers who have beenprotesting on Delhi’s borders since November 26,2020, recently suspended

their agitation against the threefarm laws the Modi governmentclaimed would reform India’s agriculture sector. Taken together, theselaws — repealed during the ongoingWinter Session Parliament — intended to relax regulations regardingthe purchase, sale, and stocking ofagricultural products and enablewritten agreementbased contractfarming in India.

The underlying premise of thesethree laws, as private businesses involved in agriculture themselveshave argued, was to enable privatesector participation and investments in agrifood supply chains inthe hope that effi�ciency gains willrefl�ect in farmers’ income. Whilethe laws have been repealed, theprotesting farmers have called off�their protests after the Centre accepted a few of their demands, suchas the withdrawal of criminal casesagainst the protesters, and agreedto negotiate with them for theirother demands.

The most contentious amongthem is the demand for a law guaranteeing Minimum Support Price(MSP) for their agriculturalproducts, which are minimum prices announcedby the government for select agricultural productsat which transactions aredeemed to be remunerative to farmers.

While much ink hasbeen spilled on the prosand cons of these contentious farmlaws, discussions have been few andfar between regarding the directionIndian agriculture needs to take if itis to become ecologically and economically sustainable to farmers.

This shift to agribusinessled development in agriculture can beseen in the continuation of a turn

toward technoentrepreneurial development in India that has takenoff� in the last decade, evident in thenumber of startups.

There now exist more than 600agritech startups that interactwith nearly 14 million farmersacross the country. Covid19induced stayathome orders by Central and State governments severelycurtailed the movement of farmersand further increased their dependence on agritech fi�rms’ activities,such as procuring directly fromfarm gates and the delivery of agricultural inputs to farms. These activities are monetised by such fi�rms toachieve growth and scale to newmarkets.

The question is, will this agribusinessled development model be benefi�cial for Indian agriculture andagriculturists? Decades of scholarship on industrial agriculture hasargued that any conception of anagrarian future needs to centre onecological sustainability, understood as sustainable usage of natural ecosystems, along with the economics of cultivation. Is theagribusinessled developmentmodel in Indian agriculture promoting ecological sustainability offarming?

During my fi�eldwork in 2021, theagritech entrepreneurs and investors I talked to diff�erentiated agriculture as a sector from other sectors of the Indian economy, not justin terms of its rural situatedness, re

latively lessdeveloped infrastructure (includingpatchy internet connectivity despite the recent revolution in lowcost data), lack of avenuesfor monetisation of theirproducts and services,but, more importantly,

due to its ecological basis. For instance, crops have a tem

poral cycle from sowing to harvesting, most agricultural productshave a fi�nite shelflife to be transported long distances, and there is anurgency for ensuring ecological sustainability of farming in the country. Yet, an overwhelming majority

of the emerging agritech fi�rmshave concentrated on agriculturalsupply chains such as homedelivering agrichemicals to farmers andensuring market linkage of agricultural products rather than daytoday cropping operations and ensuring the sustainability of farming.

While they speak about agricultural sustainability, they see it as abyproduct of interventions ratherthan a direct impact. Moreover, recent studies of developments in thedigitalisation of agriculture as a result of technoentrepreneurial interventions from elsewhere (such asthe US) have argued that the recenttechnological and methodologicalchanges brought about in agriculture are going to “shore up and intensify” environmental problemsrather than solve them and it mightlead to a “data grab” in addition tothe ongoing land grab.

IDEA frameworkDespite this, the Indian government is actively promoting technoentrepreneurial development in agriculture. For instance, the agriculture ministry has released a draftframework called India Digital Ecosystem of Agriculture (IDEA) for promoting the digitalisation of Indianagriculture. The question is why?

First, proponents of technoentrepreneurialism are driven byideologies of technological futurism and neoliberalism. During myfi�eldwork, I consistently observed

palpable frustration amongst policymakers and infl�uential agricultural economists about the incomplete process of the liberalisation ofIndian agriculture that started during the 1990s.

Ramesh Chand, an agriculturaleconomist in the NITI Aayog, arguedin December 2019 that agriculture,which was left behind in the 1991 reforms agenda, requires a “paradigmshift” for the economic bettermentof farmers. According to Chand, itneeds “advancement in scienceledtechnology, enhanced role ofprivate sector in both pre and postharvest phases, liberalised outputmarket, active land lease market,and emphasis on effi�ciency.”

The IDEA document also claimsthat digitalisation is important forelevating Indian agriculture to“higher levels of effi�ciency and productivity.” The underlying premiseof these statements is that Indianagriculture is ineffi�cient andgreater private sector participation,exportoriented growth, and use ofdigital technology will bring aboutgreater effi�ciency.

However, they fail to acknowledge that free markets do not workin agriculture for several reasons,one of which being that global agricultural markets are highly skewedas a result of hugely subsidised agriculture in developed countries ofthe global North. Also, they do notrealise that technologyled developments in the past have led to the

emergence of myriad problemsthat Indian agriculture is facingtoday such as soil degradation, depletion of groundwater, and increasing frequency of pest attacks.

Second, there is an inclination toward understanding agriculturaldevelopment in continuation withdevelopments in other sectors suchas telecommunication and space. Itis assumed that digitalisation willtransform agriculture in ways similar to other sectors. However, eventhough agritech actors are increasingly recognising the ecologicalbasis of agriculture, as previouslymentioned, the masculinist technoscientifi�c approach toward agriculture continues; they stop short of recognising that these solutions remain ignorant of their own powerto change the material world in unimaginable ways and may engender unintended consequencesas the history of industrial agriculture has repeatedly demonstratedfrom all over the world.

Finally, the dominant industrialsociotechnical regime fi�ercely opposes any moves towards an alternative understanding of reforms(such as “natural farming”) as a recent study has demonstrated fromAndhra Pradesh.

The aff�ective structures generated by reliance on technology andprogress need to be countered by alternatives such as natural farming,which may seem antithetical to science and progress to some in the agricultural bureaucracy. However,this remains an open question as tohow this will happen if investmentsin alternative ways of thinkingabout sustainable agricultural futures are not made. One possibleway is for farmers to harmonisetheir demands for minimum priceswith these alternative agriculturalfutures for a meaningful overhaulof the agricultural system in thecountry.

The writer is a doctoral candidate in

anthropology at UCLA. This article is by

special arrangement with the Centre for

the Advanced Study of India, University

of Pennsylvania

Unlikely from a sustainability standpoint, as most agri-tech firms focus only on supply chains and market linkages

India is actively promoting techno-entrepreneurial development in agriculture

Will agri-biz model benefit farm sector?

ATANU BISWAS

An annual extravaganzasuch as the Rio Carnival,Munich’s Oktoberfest, orJapan’s Hanami usually

characterises as well as boosts theeconomy of the place. And, ‘DurgaPuja in Kolkata’, for sure. UNESCOhas now accorded it the 14th entryfrom India in its ‘Representative Listof Intangible Cultural Heritage ofHumanity’ comprising about 500elements. But would that infl�uencethe Durga Puja economy?

According to UNESCO, culturalheritage “includes traditions or living expressions inherited from ourancestors and passed on to our descendants, such as oral traditions,performing arts, social practices,rituals, festive events, knowledgeand practices concerning natureand the universe or the knowledgeand skills to produce traditionalcrafts”. Intangible cultural heritageis “traditional, contemporary andliving at the same time”, “inclusive”,“representative”, and“communitybased”.

The director of UNESCO New

Delhi was “confi�dent that this recognition will off�er encouragement to the local communities thatcelebrate Durga Puja.”. They includethe local idolmakers of Kumartuliin North Kolkata, people engagedin the lighting industry in thenearby Chandannagar town, marginal folk artists engaged in thetheme designs of the pandals (marquees), and the dhakis (traditionaldrummers) from rural Bengal.Thousands of colourful and thematic pandals at streetcorners andparks — around 2,500 in Kolkata —are temporarily built during DurgaPuja. The streets are fl�ooded inlights and millions of people areout pandal hopping, with every pan-dals averaging 2/3lakh footfall daily.There’s little room left to fl�ourish inthese aspects.

What Durga Puja really lacks isthe number of foreign tourists thatperhaps the biggest street festivalin the world should attract. Munich’s Oktoberfest, for example, attracts more than 70 lakh visitors annually. Rio de Janeiro had morethan 15 lakh tourists during the2018 Carnival, nearly half of them

foreigners. And an estimated 6.30crore people travel to and within Japan to view the springtime symphony of cherry blossoms duringHanami.

A carnival in its own style? In her2015 book In the Name of the God-dess: The Durga Pujas of Contempor-ary Kolkata, historian Tapati GuhaThakurta aptly describes Kolkata’sPuja as “a mega consumerist carnival and a citywide street exhibition.” Well, since 2016, the WestBengal government has been organising a Durga Puja Carnival — aparade of popular pujas along withcultural performances, to attract

global attention for the festival andto boost tourism.

The importance of the intangiblecultural heritage in the economywas discussed in a 2016 paper in Pro-cedia Economics and Finance by Tudorache Petronela of the BucharestUniversity of Economic Studies.“Safeguarding intangible culturalheritage is a valuable source of theeconomy,” said Petronela.

Estimating the valueDespite limited studies, the importance of Durga Puja for the economyof West Bengal is enormous. Amuchcited 2013 Assocham studyestimated the size of the Durga Pujaindustry at ₹�25,000 crore, logging acompounded annual growth rate(CAGR) of about 35 per cent. Whilesuch a CAGR is unlikely to continuefor long, at this rate, the estimatedsize of the Durga Puja economycould be about ₹�2.75lakh crore in2021, had there been no pandemic.

A recent British Council study focussed on ten creative industriesthat drive Durga Puja and indicatedthat a ₹�32,377crore ‘creative economy’ was generated during Puja

2019 in West Bengal, accounting for2.58 per cent of the State GDP. Thecomplete Puja economy, however,may be much beyond that. Corporate funding and outdoor advertising account for about 90 per centof the funding of today’s Pujas. Consequently, the serious issue of ‘overcommercialisation’ would keepKolkata’s Puja haunting, for sure.

Would the inclusion in the UNESCO list help boost the Durga Pujaeconomy, mainly by attractingmore tourists and creating moretouristfriendly infrastructure?Maybe, but not quite clear though.“The economic value can be determined by measuring the grossadded value, the multiplier eff�ectson the economy, tourist visits andtheir consumption,” Petronelawrote on intangible cultural heritages. Well, would any signifi�cant“gross added value” or “multipliereff�ects” be included in Kolkata’sbiggest public art event with itsnewly added Heritage tag? Let’skeep track.

The writer is Professor of Statistics,

Indian Statistical Institute, Kolkata

Economic potential of Kolkata’s Durga PujaUNESCO’s tag for the annual event is a boost, but attracting more foreign tourists will be a vital ‘multiplier’

More value in store

Data theft

For the vast majority struggling tomake both ends meet, all this fussover data protection makes nosense. Technological advanceshave made it impossible for 100per cent data protection. Therefore, there will always be a possibledata theft. The data collected bythe government becomes a veritable treasure trove for amateurhackers who can sell it to thehighest bidder.

All this must give sleeplessnights to those in charge of national security, who are now as important as soldiers guarding ourborders.Anthony HenriquesMumbai

Dubious ARCs

This refers to ‘ARCs in spotlight’(December 24). The erstwhile DRT(Debt Recovery Tribunal) systemhad failed not only due to protracted legal formalities which banks

had to follow but also due to unholy nexus which existed betweenbanks and borrowers for recoveryof delinquent loans.

It is indeed unfortunate that asimilar nexus has crept into thefunctioning of private ARCs. Itclearly establishes a backdoorconnection between ARCs and defaulters.

Also, the fact that seized assetsare sold back to defaulting borrowers proves the murky state ofaff�airs prevailing in the system. Itfurther proves that the defaults bymany borrowers were ‘wilful’.Time for the RBI to subject ARCs tostringent monitoring for the public to repose faith in the recoverymechanism. Srinivasan VelamurChennai

Household debt

This refers to “India’s householddebt no cause for alarm”. Thoughthis data is almost six months old,

it does provide valuable insightsto household debt and fi�nancialsavings patterns. The fi�rst lockdown was unprecedented andmost of us learnt our lessons thehard way. Obviously, families ingeneral preferred to save more orspend more on healthcare.

A similar trend of an increase inhealthcare insurance was visible.Generally, low interest rate regimes tend to fuel debt but that isnot the case at present. So bankscan lend while keeping theirchecks and balances in place. Bal GovindNoida

Sops needed

Apropos ‘Reduce GST on handlooms, senior citizens’ health insurance premium: MPs to FM’(December 24), one tends to agreewith the group of MPs who metFinance Minister Nirmala Sitharaman to demand a rollback in theincrease in the GST rate as it is

bound to deal a big blow to the nation’s handloom sector.

Their demand for reducing thehealth insurance premium in respect of senior citizens also meritsconsideration.Kumar GuptPanchkula, Haryana

Unprecedented challenge

This refers to ‘Unprecedented uncertainty awaits India Inc’ (December 24). The way our corporateleaders have led their fi�rms in theVUCA environment, complicatedfurther by the corona menace,raises hope that they will copewith the emerging challengeswell.

But they will still need government support (much in evidence),collaboration from employees (including trade unions), and encouragement from oppositionleaders (instead of frequent allegations of favouritism or corruptionin business deals). The acid test

will be their ability to create andchange strategy in quick time asthe unknown hurdle appears onthe scene. YG Chouksey Pune

KYC updation

The news that accounts withbanks, fi�nance companies, mutualfunds, broking houses, etc., thatdo not comply with KnowYourCustomer (KYC) norms will befrozen comes as a shock.

While it is common knowledgethat one has to submit identity/address proof such as Aadhaar/PANwhenever an account is opened,the accountholders are told toprovide the details again andagain. Despite providing them ona regular basis, one does not understand why a customer is harassed, humiliated and pressuredto give the details yet again?VS JayaramanChennai

LET TERS TO THE EDITOR Send your letters by email to [email protected] or by post to ‘Letters to the Editor’, The Hindu Business Line, Kasturi Buildings, 859-860, Anna Salai, Chennai 600002.

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SUKIYAKI MANJULA PADMANABHAN

NIKHIT KUMAR AGRAWAL

INDIA IN TRANSITION

Published by N. Ravi at Kasturi Buildings, 859 & 860, Anna Salai, Chennai-600002 and Printed by N. Vaidyanathan at Dangat Media Pvt Ltd, No. 22, Dighe MIDC, Vishnu Nagar, TTC Industrial Area, Dighe, Navi Mumbai-400701 on behalf of THG PUBLISHING PVT LTD., Chennai-600002. Editor: Raghuvir Srinivasan (Editor responsible for selection of news under the PRB Act). ISSN 0971 - 7528

S MURALIDHAR

The MPV (multiplepurpose vehicle) segmenthasn’t seen a fl�urry of

new launches. But it has had asteady trickle of new entrants,many who have fallen by thewayside. Of course, a few continue to be favourites in thefl�eet segment and a few others in the individual buyers’category. But, it is only theToyota Innova that has managed to continue to appeal toboth the class of buyers; andthat too despite its priceclimbing well past the ₹�20lakh mark.

Into this segmentcomes the latestentrant with anunlikely mix ofattributes – it’s anallelectric, 5seater from ahitherto unheardChinese brand. BYD’se6 is, interestingly, alsonot going to try and take aswing at the small, but growing, the population of individual EV buyers. Instead, thee6 is being launched exclusively for the institutional, corporate fl�eet and taxi segments. So, for now, only taxioperators, companies thatwant to set up a network ofEVs for internal use and smallenterprises can buy the e6.BYD offi�cials say that there isno immediate plan toopen sales for individual buyers.

BYD has been inIndia since 2004and it has beenselling electricbuses to statetransport undertakings forabout eightyears. It alsorepresents theBYD group’sother Indian businessesin solar panels, mobile com

ponents, batteries, energystorage systems and other EVmachinery. It has an assemblyfacility in Sriperumbudur,near Chennai, where the e6 isassembled after being imported in SKD form. This alsomeans that the number ofunits of the e6 that BYD canhope to sell in a year is limitedto 2,500.

DesignFirst off�, the basics about theBYD e6. It is a 5seater MPV; noother seat confi�guration isoff�ered. Unlike some of thenewbies in the segment that

are essentially elongatedSUVs, the e6 also sports

a classic MPV profi�le,though there areno sliding doors atthe rear. Instead,all four doors are

large and openwide. In terms of di

mensions, at 4,695mm, the e6 is just a

couple of inches smaller inlength than the Toyota InnovaCrysta, but its wheelbase of2,800 mm is a couple ofinches more than the Innova.That, for a 5seater, must meanonly one thing – more space inthe cabin and the boot. BYDsays that the cavernous boothas a rated luggage room of580litres; that’ll certainlyhelp its target buyer segment.

The e6’s design is

not aggressive or sporty. It’sdiff�erent but won’t stand outin a crowd. The design is cleanand of course, there are elements that point to this beingelectric. The good part is thatthis is a BEV meant for institutional buyers, and yet itsdesign and features don’t giveaway any sense of it beingbuilt to a price. LED daytimerunning lights and LED rearcombination lamps are standard, peeled back headlampswith twin projectors and a

grille that off�ers asimple, but el

egantlyper

forated look at the frontmakes it a fairly good lookingMPV. There are a lot of chromeelements too, including thegrille frame that connects theheadlamps at the front, thewindow frame at the side andthe wide chrome garnish atthe rear connecting the taillamps. The e6 also gets 17inchalloy shod with 215/ 55 R17tyres.

The roofl�ine is set low andrises gradually in an upwardarc creating a small quarterglass just below the Apillar.Together with stalked doormirrors, this small glass section off�ers a small reductionin the blind spot. The e6’sground clearance is a decent

170 mm. Battery pack clearance is said to be 205 mm.

CabinThe e6’s interior is neitherspartan nor plush. There is anair of cleanliness and modernity to the cabin when I letthe fi�t and fi�nish sink in. Themost important element inthe cabin is the rotatable25.65cm infotainment touchscreen, which can be used inportrait or landscape mode.Apparently, screen real estateis a big deal amongst EV buyers. The e6 certainly doesn’tscore big on that front, butthere is still a novelty to thescreen. Most controls, including the aircon, have been

built into the 10.1inch screen.It currently off�ers Bluetoothand Wifi� connectivity; AppleCarPlay and Android Autoconnectivity may come at alater date.

The instrument cluster is apair of analoguedials and aMID digital unit in themiddle. One of the dialssimply points to the discharge/regen cycle for the battery and the other is a speedometer; though, the dial’s 240kmph marking has no connection to the e6’s top speedwhich is restricted to 130kmph. The MID off�ers realtime readouts for the numberof kWh consumed per 100kms driven (average mileagein EV lingo), the battery’s stateof charge, driving mode, battery range (distance to empty)etc.

BYD’s brochure says thatthe steering wheel and seatsare clad in leather, but my testmule’s seat covers felt likeleatherette. The cabin’s fi�nishquality is good. There is quitea lot of plastic all around, butby breaking the monotony using faux wood, metal insertsand contoured panels, BYDdesigners have managed tostill retain an air of premiumness. Shiny plastic bits are abit tacky but the materialquality is not suspect. Thecentre console just houses thedriverelated controls alongwith a high/ low button forchoosing two levels of regenassistance. The rotary drive selector knob is intuitive andsimple to use. Steering is adjustable for reach and rake.Both driver and copassengerseats off�er sixway adjustment. I felt that the rear seatsquabs could have been a bit

more generous, given that alot of passengers in the e6 aregoing to be seated there. Butthere is a lot of legroom anddedicated air vents shouldkeep them comfortable. Theaircon also gets a medicalgrade CN95 air fi�ltration system for purifying cabin air.Another interesting feature inthe cabin is the seatbelt reminder for all fi�ve seats.

Power trainThe BYD e6’s biggest draw willbe its battery range. Companyoffi�cials claim that multipletest cycles have returned arange per charge of over 400kms in realworld conditions.The MPV features a 71.7 kWhbattery pack, amongst thelargest available in a PV currently in India. The power isfed to the front wheels via a 70kW electric motor that alsodelivers a peak torque of 180Nm. The rated driving range is520 kms in the city and 415kms combined (WLTC). During my test drive of over 195kms; a combination of cityand highway driving doneover eight hours, the e6’s battery still displayed an available range of 257 kms. Thereare no drive modes to choosefrom, just a twostep variationin battery regen. Eco mode isdefault and regen brakinghappens from as low as 2kmph. BYD offi�cials say thatthe battery in the e6 is a bigdeal. The blade battery techused for the lithiumion phosphate chemistry is said tomake it one of the safest in theEV industry. While the cellsare said to off�er high energydensity, the battery is alsoclaimed to have passed thenailpenetration test – one ofthe most stringent in the business. The battery supportsboth AC and DC charging andis said to be consistently effi�cient even if charged consecutively using a DC charger.

A regular 15A socket AC wallcharger will take over 12hours, but DC fast chargingcan deliver an 80 per cent

charge in as low as 35minutes. BYD is off�ering thee6 with an optional 6.6 kWcharger. But it has also developed a unique 40 kW ACcharger that is compact, fastand doesn’t need the extracooling equipment that DCchargers require.

The e6’s cabin is predictably quiet and there is only agenerated mechanical whinethat sets in while driving atspeeds of up to 30 kmph (forpedestrian safety). The ride iswell sorted for the most parteven at 3digit speeds. The suspension includes McPhersonstruts for the front and amultilink set up for the rear.The BYD eplatform on whichit is built is a classic skateboard platform with an underfl�oor battery pack set up.Stability shouldn’t be an issue. With disc brakes allaround, the braking performance is also pretty good. Incity traffi�c, preemptive regenbraking should be enough forthe most part.

Bottom lineIt is good to see that the BYDe6 also gets a long list of safetyfeatures as standard. Fourairbags, ISOFIX mounts, tyrepressure monitoring, tractioncontrol, ESP, and a brake override system are all standard.

BYD is off�ering the e6 in twotrim variants – GL and GLX,with the diff�erence being onlyin the charging function(with or without the proprietary AC fast charging). Thevehicle will be available ineight Indian cities initially, including Delhi NCR and Chennai, at a starting exshowroom price of ₹�29.15 lakh foreligible institutional buyers.At that price, there are morefeatureloaded ICE options tochoose from, but the e6 is afair compromise for an EV. TheBYD e6 won’t qualify for FAMEsubsidies, but depending onthe city it is registered in,there could be State exemptions for road tax and registration charges.

A people’s mover that’s electric, yet practicalIs the BYD e6 the EV that institutional

and fl�eet buyers have been waiting for?

BYD’s e6 will be available in

eight cities initially at a starting

exshowroom price of ₹�29.15 lakh

................BM-BMECMYK

MUMBAI

BusinessLineSATURDAY • DECEMBER 25 • 2021 7AUTO FOCUS

OUR BUREAU


The Indian Army has launcheda contemporary messaging application named ASIGMA (ArmySecure IndiGeneous MessagingApplication).

It is a new generation webbased application developedentirely inhouse by a team ofoffi�cers of the Corps of Signalsof the Army, the Ministry of Defence said in a statement.

The application is being deployed on the Army’s internalnetwork as a replacement ofArmy Wide Area Networkmessaging application which hasbeen in service for past 15 years.

The application has beenfi�elded on Armyowned hardware and lends itself to lifetimesupport with future upgrades,it said.

Indian Armylaunches inhousemessaging appASIGMA

OUR BUREAU

Mumbai, December 24

The Reserve Bank of India(RBI) has imposed a monetarypenalty of ₹�30 lakh on MUFGBank Ltd for noncompliancewith its directions on ‘Loansand Advances – Statutory andOther Restrictions’.

MUFG Bank has the largestnetwork amongst Japanesebanks in India, with a presence in fi�ve locations.

RBI, in a statement, said itsinspection of the bank (withreference to its fi�nancial position as on March 31, 2019) revealed, inter alia, noncompliance with the aforesaiddirection to the extent that ithad sanctioned loans and advances to companies whoseboard of directors includedperson(s) who were director

(s) on boards of other banks,without such sanctions beingaccorded at the level of itsmanagement committee.

Notice issuedIn furtherance to the same, anotice was issued to the bankadvising it to show cause as towhy penalty should not be imposed on it for noncompliance with the RBI direction.

“After considering thebank’s reply to the notice, oralsubmissions made during the

personal hearing and additional submissions made bythe bank, the RBI came to theconclusion that the charge ofnoncompliance with theaforesaid RBI direction wassubstantiated and warrantedimposition of monetary penalty,” the Central bank said.

Deficiencies in compliance RBI emphasised that its actionis based on the defi�ciencies inregulatory compliance and isnot intended to pronounceupon the validity of any transaction or agreement enteredinto by the bank with its customers.

MUFG Bank caters to thebanking needs of Japaneseand global corporates that areestablishing or growing theirbusinesses in India.

RBI imposes ₹�30 lakhpenalty on MUFG Bank

OUR BUREAU


New Delhibased developerDarwin Platform Infrastructure Ltd (DPIL) has won thefi�nancial bid for Lavasa Corporation, India’s fi�rstprivately built smart city nearPune. The Committee of Creditors (CoC) of Lavasa, on Friday, voted in favour of theplan submitted by DPIL.

The company had proposeda resolution plan of ₹�1,814crore in the revised and fi�nalplan for Lavasa. On November25, DPIL submitted an addendum to its November 20resolution plan. Earlier thismonth, the CoC started theprocess to fi�nalise resolutionplan for Lavasa Corporation.

According to sources, DPILproposed an upfront payment of ₹�100 crore, payment

to home buyers within 24months of receipt of EC, construction and delivery ofhomebuyers properties, redemption of the securedNCDs at the end of 108months and these will incur acost of ₹�1,466.50 crore.

This apart, additional costto be borne include that of repair/refurbishment, andother construction that takesthe resolution plan value to₹�1,814 crore.

‘Competitive offer’“Our revised resolution off�erwas very competitive andbased on rational cost calculations. DPIL is committed to executing the Plan as per theschedule proposed to theCoC,” said Ajay HairnathSingh, Group Chairman, Darwain Platform Group of Companies.

The Ajit Gulabchandpromoted Lavasa project was admitted for insolvency to theNational Company LawTribunal (NCLT) in August2018.

Company had

proposed a

₹�1,814crore

resolution plan

Darwin Platform’s fi�nancial bid for Lavasa Corp cleared


Washington, December 24

Amid growing concerns ofsurging Covid19 cases, the UShas announced that it willwaive the inperson interviewrequirement for a range ofvisa applicants during the entire year in 2022, including forH1B workers and students,many of whom are fromIndia.

The H1B visa is a nonimmigrant visa that allows UScompanies to employ foreignworkers in speciality occupations that require theoreticalor technical expertise.

Technology companies depend on it to hire tens of thousands of employees each yearfrom countries like India andChina.

The Department of State onThursday announced thatconsular offi�cers are now temporarily authorised, throughDecember 31, 2022, to waiveinperson interviews for certain individual petitionbasednonimmigrant work visasand their qualifying derivat

ives in the following categories: persons in specialty occupations (H1B visas), trainee orspecial education visitors (H3visas), intracompany transferees (L visas), individualswith extraordinary ability orachievement (O visas), athletes, artists, and entertainers(P visas), and participants ininternational cultural exchange programmes (Q visas).

Other categoriesAdditionally, the Secretary ofState has extended consularoffi�cers’ current ability towaive the inperson interview,through December 31, 2022,for the following other categories of nonimmigrantvisas: temporary agriculturaland nonagricultural workers(H2 visas), students (F and Mvisas), and student exchangevisitors (Academic J visas), thepress release said.

Embassies and consulatesmay still require an inpersoninterview on a casebycasebasis and dependent uponlocal conditions.

US waives in-person interviews for some visas

NEWS

................BM-BMECMYK

MUMBAI

8 BusinessLine SATURDAY • DECEMBER 25 • 2021COMMODITIES/AGRI-BUSINESS

SUBRAMANI RA MANCOMBU


Turmeric prices have gainedabout ₹�2,000 a quintal sinceDiwali on good domestic andexport demand, besides fearsof heavy rains having aff�ectedthe new crop due next month.

“We saw a good demandafter Diwali for turmeric. Wethought it was small andcould be temporary, but theuptrend has continued,” saidRKV Ravishankar, President,Erode Turmeric MerchantsAssociation.

Initial gainsCurrently, the modal price orrate at which most trades takeplace for fi�nger turmeric is₹�7,754 a quintal in TamilNadu’s Erode market against₹�6,607 on November 9, whenthe markets opened after Diwali. In Nanded, Maharashtra,the spice modal price is₹�8,000 and in Nizamabad, Telangana, it is ₹�7,885.

On the National Commodit

ies and Derivatives Exchange,turmeric for delivery in Aprilwas quoted at ₹�9,228 a quintalon Wednesday, while spotprice for farmer polished turmeric was ₹�8,445.

“Turmeric prices initiallygained on rumours that thecrop has been aff�ected due toheavy rains in growing areas,”Ravishankar said.

“The sentiment improvedon reports of damage to thecrop in Telangana and AndhraPradesh. It has helped pricesto rise by at least ₹�1,000,” saidPoonam Chand Gupta, atrader from Nizamabad.

Lower output“The market sentiment isbuoyant mainly since the ending stocks are expected to be1718 lakh bags (50 kg each)this year against 25 lakh bagslast year. There has been gooddemand in the domestic andexport market,” said SunilPatil, a turmeric supplier fromNashik in Maharashtra.

This year, the crop was alsolower compared with lastyear, he said. Also, the qualityof the produce was not good,resulting in prices gaining.

Spices Board data showedturmeric production this yearbeing projected at 11.01 lakhtonnes against 11.78 lakhtonnes last year, mainly on theoutput being aff�ected in Telangana, Karnataka, TamilNadu, Assam and Haryana.

In view of the heavy rains inthe growing areas, particularly Maharashtra, the nextcrop’s yield could be lower,Patil said.

The new turmeric crop is expected to hit the market bythe middle of next month butdue to the rains in Octoberand November, it could be

delayed by two to three weeks,Patil said.

Ravishankar said the newcrop was due sometime laternext month. “Since export demand is also strong, there is abullish mood,” he said.

Concurring with Patil andRavishankar’s view, Guptasaid exports had slowed nowdue to Christmas but they willresume with vigour nextmonth. “We had export demand from all quarters, particularly Bangladesh and Gulfcountries,” he said.

H1 exports down 26%However, Spices Board datashow turmeric exports lowerby 26 per cent in volume during the fi�rst half of the currentfi�scal at 77,245 tonnes valued

at ₹�860.31 crore against 1.04lakh tonnes valued at ₹�903.31crore during the same perioda year ago.

Patil said prices haddropped before Diwali asmany farmers looked for liquidity, particularly wantingto shift from turmeric to soyabean, whose prices were ruling at a record high of over₹�8,000 a quintal.

“It led to higher arrivalsthen and resulted in a drop inprices,” he said, adding thatsince then prices have improved remarkably.

In addition, the trader isnow concerned over reportsof a disease outbreak in theturmeric crop in Karnataka.“The production could belower by about 25 per cent inKarnataka due to this disease,primarily since it will aff�ectthe yield,” the Nashik suppliersaid.

Going forward, turmericprices could rule high gaining₹�1,0001,500 over the next twomonths, Patil said. The trendon NCDEX for April futuresalso indicates fi�rming up ofthe price.

Turmeric up on demand, fears over new cropLower stocks, reports of disease hitting

yield in Karnataka also aid uptrend

SHOBHA ROY

Kolkata, December 24

Even as raw jute production isestimated to be up by nearly 55per cent this year, jute mills arecurtailing production becauseof a mismatch between market prices of raw jute and priceceiling imposed on it by theregulatory authority.

In September this year, theJute Commissioner’s offi�ce imposed a price ceiling of ₹�6,500a quintal on raw jute trade toensure supply of raw materialto the mills at a fair price. Thepricing of the Btwill bags isalso based on this price ceiling, while the market pricesare currently ruling around₹�7,1007,200 a quintal. This hasmade it unviable to producejute bags and resulted in ahuge loss for mills. According

to Raghav Gupta, Chairman,Indian Jute Mills’ Association(IJMA), raw jute production inthe State is estimated to be 8590 lakh bales in 202122 seasonagainst 5558 lakh bales in202021. The higher production is on the back of favourable weather conditions and arise in the sowing area due toremunerative prices thegolden fi�bre fetched last year.The carryover stock from lastyear is about three lakh bales.

“The prospect of this (new)crop is good but then we areleft with a small carryoverfrom last season so the totalavailability of raw jute for theindustry in the season 202122is comfortable,” Gupta toldBusinessLine.

Prices had touched as highas ₹�9,000 a quintal towards

the end of the last crop season(that ended in June this year).However, when the new cropstarted arriving, prices beganto drop and touched around₹�5,500 a quintal. Farmers werereluctant to sell at these pricesand so held on to the produce.This pushed up prices.

“When the Jute Commissioner saw prices are on therise on September 30, he cameout with an order and cappedit at ₹�6,500 a quintal. TheCommissioner’s offi�ce is pricing the Btwill bags based onthis price regardless of the fact

that whatever price it is beingtraded in the market. This resulted in a loss situation for entire industry and hence theyare curtailing production,” hesaid.

The Commission for Agricultural Costs & Prices (CACP)in its “Price Policy for Jute:202122 season” has recommended a MSP of raw jute(TDN3, equivalent of TD5) forthe season 202122 to be fi�xedat ₹�4,500 a quintal. This is anincrease of 6.5 per cent overMSP of ₹�4,225 a quintal for thelast season.

DilutionThe jute sector is also likely tosuff�er due to dilution of closeto 4.9 lakh bales of hessian bagorders in favour of plastic materials for foodgrain packaging during NovemberDecember this year. This wasdone as the millers were notable to supply that required

quantity of packaging material. Plans for JanuaryMay 2022are still not available. Themonthly production is close to2.25 lakh bales against the requirement of close to 3 lakhbales during the rabi marketing season starting April 1.

The government had recently approved reservationnorms for mandatory use ofhessian sacks in packaging forthe jute year 202122. Thenorms provide for 100 per centreservation of foodgrains and20 per cent of sugar to bepacked in jute bags.

However, the dilution wasrecommended by the Standing Advisory Committee onpackaging as the industry hasbeen facing problems in increasing production. According to Manish Poddar, exChairman, IJMA, the industryis likely to face tough timesand may fi�nd it diffi�cult tosurvive.

Jute mills cut production on price mismatchRaw jute rates ruling over ₹�7,100/quintal

against ₹�6,500 cap fi�xed by the regulator

In Sept, the Jute Commissioner’s

office imposed the price ceiling

VINSON KURIAN

Thiruvananthapuram, December 24

Extended forecast by IndiaMeteorological Department(IMD) into the yearend andthe fi�rst week of the New Year(January 2022) indicates thearrival of backtoback western disturbances which willtrigger rain, thunder showersand snow as well as keep awaycold wave conditions.

BusinessLine had already reported quoting the APEC Climate Centre at Busan, SouthKorea, that India s likely towitness normal to above normal rainfall during not justthe winter but also the earlysummer and premonsoonseason.

IMD’s outlook for theperiod from December 30January 5, 2022, suggests thatsuccessive western disturbances will sustain normal toabove normal rainfall overNorthWest, Central, East andNorthEast India. It is likely tobe below normal over SouthPeninsular India.

Arrival of western disturbances have brought in associated clouding and moisturethat has caused minimum(night) temperatures to lookup. On Thursday, the lowestminimum temperature of 4

degrees Celsius was reportedat Meerut and Kanpur overthe plains of the country.

Rise in mercury levelsA gradual rise in minimumtemperatures by 24 degreesCelsius is likely over mostparts of NorthWest, East andCentral India during the nexttwo days and no signifi�cantchange thereafter. Overall,these may rise above normalby 24 degrees Celsius overmost parts of NorthWest andCentral India.

No cold wave conditionsare likely to prevail exceptover Odisha during the nextseven days. Dense fog is likelyin the morning hours overparts of in isolated Punjab,Haryana and NorthEast Indiaon Friday and Saturday andover NorthWest Rajasthan onSaturday and Sunday.

Minimum temperaturesinto the fi�rst week of January

will trend to be above normalby 24 degrees Celsius overmost parts NorthWest, Central, East and NorthEast Indiaand near normal over theSouth Peninsula.

Projections for the ongoingweek ending December 29said that the fi�rst such systemwestern has already arrivedover North Pakistan and adjoining Jammu & Kashmir.

Induces spin-off circulationBeing an ‘active’ (strongerthan normal) system, it hasspun off� an induced circulation over NorthWest Rajasthan. A successor systemhas been traced to over Iranand Afghanistan.

The IMD has forecast forscattered rainfall/snowfallover Jammu & Kashmir,Ladakh and Himachal Pradesh until Saturday. Isolatedrainfall is likely over Punjab,Haryana and Chandigarh.

Rain, snow for north-west into year-endSeries of western

disturbances to

keep away cold

wave conditions

The IMD has forecast scattered

rainfall, snowfall over J&K

OUR BUREAU


The total acreage under all rabicrops has crossed 600 lakhhectares (lh) as on Friday, upone per cent from a yearago,while the sowing area underkey wintersown cereal wheathas crossed the last fi�ve year’saverage of 303 lh. This may ensure another bumper harvestof food grains if the weather remains favourable over the nextthree months.

The area under wheat wasreported at 305.47 lh compared with 309.68 lh duringthe same period a year ago, theAgriculture Ministry said in itsweekly update. Though highercoverage has been reportedfrom Madhya Pradesh (by 4.48lh), West Bengal (0.10 lh) andAssam (0.03 lh), all other main

growing States have reported adrop in acreage. Uttar Pradesh(down by 0.41 lh), Punjab (0.24lh), Haryana (1.39 lh), Rajasthan (1.61 lh), Bihar (1.48 lh),Gujarat (1.23 lh) and Maharashtra (1.19 lh) are the Stateswhere the area has dropped.

As per target set by States,the total area under wheatmay decline to about 351 lhduring the current rabi seasonagainst last year’s 355 lh (actual). The Centre has also been

working to cut the area by increasing productivity so thatthe grain’s overall output doesnot fall and more planting areamade available to growoilseeds.

Mustard acreageThe acreage of mustard/rapeseed has jumped by 21.4 percent to 86.98 lh as on December 24 from 71.62 lh a yearagoand nearly 3 lh were coveredduring the past week. Agriculture scientists are now expecting the area under mustard tobe around 90 lh which will be achallenge for the governmentto sustain unless policy intervention is placed in advance tocheck its price fall when thecrop comes to market inMarch next. For 202122, the target was set at 75.8 lh with a production of 12.24 mt. Mustardoutput was 10.1 mt in 202021.

The total area under oilseedshas increased 19.6 per cent to

95.04 lh from 79.46 lh yearago,mainly because of higher areaunder mustard. As much as 96per cent of the normal sowingarea of 625.14 lh under all rabicrops have been covered. Currently, the acreage is 600.65 lhagainst 593.50 lh in the yearago period.

Wintergrown pulses werereported at 144.47 lh, which is2.4 per cent lower than yearago’s 147.96 lh. The season’snormal area (fi�veyear average)is 146.14 lh whereas the acreagereached 167.38 lh last year. Asthe weekly increase in pulseswas about 7 lh, another 20 lhmay be covered. The acreage ofgram continued to be nearabout the same level as 102.51lh a year ago. Last year, the totalarea under gram was about 112lh. Area under masur is up 4.3per cent 16.30 lh, while barleycoverage is a tad lower at at6.49 lh from 6.52 lh yearago,the data show.

Rabi coverage tops 600 lakh hectaresWheat area lower

by 4 lakh hectares

OUR BUREAU

Mangaluru, December 24

The Indian Vegetable Oil Producers’ Association (IVPA) has saidthe government’s decision to allow free import of refi�ned palmoil and palmolein, besides reducing their customs duty willprove “fatal” for the edible oil refi�ning industry.

In a statement, IVPA said thedecision will impact domesticrefi�ners, as the reduction in theduty diff�erential between crudepalm oil (CPO) and refi�nedpalm oil by 5 per cent will makethe refi�ning of CPO unviable inIndia.

At present, the cost andfreight (C&F) India prices of re

fi�ned palm oil (fi�nishedproduct) is lower by $5060 atonne compared with CPO (rawmaterial), it said. Major exporters such as Malaysia and Indonesia have stated that theywould like to encourage valueaddition in their respectivecountries and have thereby imposed higher duties on CPO.

Export taxesIndonesia levies export taxes(including duty and levy) of$375 a tonne on CPO (raw mater

ial) and $248 a tonne on refi�nedpalm oil and refi�ned palmolein(fi�nished goods). This incentiveof $127 a tonne (about 10 percent) makes refi�ning a nonviable proposition in India, itsaid. Citing this, IVPA recommended to reinstate the dutydiff�erential of 14 per centbetween CPO and refi�ned palmoil/palmolein from the currentmere 5.5 per cent.

The government has allowedimport of refi�ned palm oil/palmolein without licence for another year till December 31,2022, to increase domestic supplies, and reduced the customsduty by 5 per cent on the refi�nedpalm oil/palmolein in order tobring down prices of cookingoils.

On June 30, the governmentremoved import restrictions onrefi�ned palm oil till December31 as prices of edible oils hadrisen sharply.

‘Govt’s decision on free import ofpalm oil may hit domestic refiners’Refi�ned oil duty

cut will make

CPO processing

unviable: IVPA

Currently, the C&F India prices

of refi�ned palm oil is lower

by $5060 a tonne than CPO

OUR BUREAU

Hyderabad, December 24

With a new ‘invasive thrips’pest attack causing damagesto red chilli crops on thousands of acres, farmers from the undivided Khammamand Warangal districts in Telanganaorganised a dharnain front of the Agriculture Commissioner’s offi�ce in Hyderabad.

The pest attack have attacked the red chilli plants atthe fl�owering stage, makingthem incapable of bearingfruits. As they attacked theplants, they also carried avirus along, causing furtherdamage to the crop in vaststretches.

‘No scope for revival’“Since there is no scope for revival of the crop, farmers

have plucked the plants out,”Nandyala Narsimha Reddy,State VicePresident of Telangana Rythu Sangham, said.

T Sagar, General Secretaryof the association,wanted the Stategovernment to prepare a report onthe damage andsend it to theUnion government. The farmers,

who have invested about₹�1.50 lakh an acre on raisingthe crop, are demanding acompensation of ₹�1 lakh anacre.

“The farmers have lost almost all of the investments asthe crop failed them this year.We are appealing the Stategovernment to bail themout,” he said. The protestingfarmers have submitted amemorandum to the offi�cialsof the Commissionarate.

Red chilli farmers stagedharna in Hyderabad

OUR BUREAU


The Associated Chambers ofCommerce and Industry (Assocham) has called for the repeal of agricultural land ceiling laws and allow farmers togrow economically. In its preBudget memorandum 202223, Assocham said land ceilinglaws may have allowed for redistribution of land in thepast but today, they were abarrier to the growth of farmers’ income.

“Successful farmers whoown land as per the ceilinglimits are unable to buy moreland and increase their income. Land ceiling laws prevent normal economicgrowth where effi�cient produ

cers can acquire more meansof production (land) to increase their output. Land ceiling laws prohibit not onlyowning agricultural land butalso leasing such land,” the association said.

Detrimental movesExpressing concern over theaction taken by the government with respect to certainagricultural commodities futures trade, Assocham saidsome of these actions may

have cooled the market butthey would be detrimental tothe maturity of Indian commodity exchanges in the longterm, besides their stability.

The chamber recommended the introduction of longterm futures contracts in agricultural commodities with 12month price visibility, increase in delivery centres inproduction States, warehousereceipt fi�nancing and encouraging hedging.

Mooting demanddrivenagriculture production, Assocham said to promote cropvarieties that are in demandfrom the industry and consumers, farmer decisionsshould be aligned with consumer trends.

Assocham called for polityincentives or tax benefi�ts forprocessing Indian fruits andpulps for domestic juice markets.

Repeal land ceiling laws to helpfarmers economically: AssochamSeeks longterm

future contracts for

agri commodities

The chamber recommended

to increase delivery centres

in production States

OUR BUREAU


The Centre has appointed twoseparate groups of experts to suggest suitable working modelswith cost benefi�t analysis thatwill lower crop insurancepremium and technology in cropyield estimation under the fl�agship Pradhan Mantri Fasal BimaYojana (PMFBY). This follows theexit of several States includingGujarat, Andhra Pradesh, Telangana, Bihar and West Bengal fromthe scheme, citing highpremium.

“There are now two subcommittees which will submit theirreport by January 10 to the working group, constituted in September to examine alternate risk

management mechanisms for rationalising the premiums,” a government offi�cial said. The twosubcommittees were formed onNovember 29 and December 2.

A tenmember committee under scientist K R Manjunath of Indian Space Research Organisation (ISRO) will explore thefeasibility of adoption of varioustechnologybased approaches developed through pilot projects byISRO and its arm National Remote Sensing Centre (NRSC) as

well as Mahalanobis NationalCrop Forecast Centre (MNCFC) ofthe Union Agriculture Ministry,the offi�cial said.

Using dronesAccording to NRSC, satellite dataat regular temporal interval enables monitoring of the naturalresources for their eff�ective management. However, the government has also been consideringto utilise drones to capture yielddata as satellite images are alsoconsidered not eff�ective in case offog or cloud.

The other subcommittee,headed by Saurabh Mishra, jointsecretary in Ministry of Finance,will conduct cost benefi�t analysisof all “accepted models – agriculture insurance pool, cup and cap80110 per cent and coinsurance2080 per cent” as well as anyprofi�tloss sharing model.

Centre sets up two panels tolower crop insurance premium

They will submit their report

by Jan 10 to the working group

To suggest ways to

rope in more States

V SAJEEV KUMAR

Kochi, December 24

Active participation of all segments of the tea trade including blenders, upcountry andlocal buyers lifted prices at Kochi auctions this week. The average price realisation in saleno 51 was up by ₹�6 per kg to₹�139 compared with ₹�133 theprevious week.

According to traders, the absence of auctions next weekon account of Christmas andNew Year holidays and lesserquantity arrivals in future offerings are also contributingfactors for the rise in pricesthis week.

CTC dust market witnesseda strong demand and 91 percent of the off�ered quantity of8,55,622 kg was sold. It washigher by a longer margin of₹�5 to ₹�10 and sometimesmore especially for thepowdery grades, the auctioneers Forbes, Ewart & Figgissaid.

Orthodox dust was steady

to fi�rm and sometimes dearerfollowing quality. The quantity off�ered was 12,500 kg withupcountry buyers and exporters absorbing a small quantity.

The leaf sale also witnesseda good demand with orthodoxgrades realising ₹�3 per kg risein average price at ₹�137. Thequantity off�ered was 2,17,433kg with select best Nilgiri,whole leaf was fi�rm to dearer.Exporters to CIS and West Asialent fair support.

Change in green leaf priceHowever, CTC leaf witnessed astrong demand with 97 percent of the off�ered quantity of33,000 kg was sold. Goodbrokens and Fannings wasfi�rm to dearer. The Tea Board

has announced that the announcement of the district average price for green leaf to bepaid to small growers by thefactories procuring their rawmaterial from them will be declared by every monthend, reports PS Sundar from Coonoor.

This follows an amendmentto the Tea Marketing ControlOrder 2003 by the Centralgovernment.

“Presently, Tea Board hasbeen announcing the greenleaf price by the fi�rst of everymonth based on the previousmonths’ auction average priceof CTC teas as has been envisaged under the provisions ofparagraph 30(A) of Tea Marketing Control Order,” said TeaBoard Executive Director Dr MBalaji.

The Union government hasaccepted the industry’s representation and promulgatedan amendment through Gazette notifi�cation called the Tea(Marketing) Control (SecondAmendment) Order 2021 taking eff�ect from December 17.

Bought Leaf factory ownersare happy over thisannouncement.

Kochi tea prices rise on low arrivals Rates increase by

₹�6 per kg to ₹�139

The leaf sale also witnessed a

good demand with orthodox

grades realising ₹�3 per kg

................BM-BMECMYK

M RAMESH


In the family of fuels forcleaner, greener mobility, autoLPG is like a stepchild. Today’sdarlings – batteries and fuelcells – will take time to blossom into youth, whereas autoLPG is a hereandnow solutionfor low carbon mobility.

The Indian Auto LPG Coalition, a body which counts biggies like IOC and BPCL amongits members, has been pitching for promotion of LPG asautomotive fuel.

Suyash Gupta, the Coalition’s Director General, hasone simple question: All thenew vehicles may be electricbut what happens to the 30crore vehicles on the roadstoday.

These vehicles will continueto emit carbon dioxide as longas they live, which is not helpful for fi�ghting climatechange.

‘Low hanging fruit’If you convert a large numberof them to run on LPG, thenvehicular emissions will comedown drastically. While LPG isstill a fossilfuel, it is far less CO2

emitting than any other. As forother emissions, the tailpipe

emissions of LPG vehicles areconsiderably lower than eventhe BSVI compliant petrolvehicles, says Gupta.

“Auto LPG is the lowesthanging fruit,” Gupta toldBusinessLine, pointing out thata fourwheeler conversion kitcosts about ₹�25,000.

Furthermore, LPG can beproduced from biomass too,particularly from the wastesfrom the food processing industry. In the developed West,several biomass LPG plants arecoming up, though no suchplant has come up in India sofar, Gupta said. BioLPG is likelyto be costlier than petroleumderived LPG, but still cheaperthan diesel.

India consumes about 28million tonnes of LPG, but only1.5 per cent of it is used to runvehicles and produces about 12mt; the rest is imported.

Since there is a large LPG importation infrastructure, supply constraints are unlikely. Anauto LPG fi�lling point can beset up in days, so a quick rollout is possible, Gupta said.

Hurdles to cross The Coalition has two asks ofthe government. One, pleasereduce the GST rates on LPG

from 18 per cent today, to perhaps 5 per cent. Also, the GSTon conversion kits is 28 percent.

The second ask is to make iteasier for manufacturers tomake and sell the conversionkits. Under today’s rules, a conversion kit has to get the ‘typecertifi�cation’ every three years,even if there is no change inthe componentry.

Nowhere else in the worldthis is so, says Gupta. Getting atype certifi�cate, (from eitherARAI or ICAT, the two certifyingagencies) costs time andmoney.

Since conversion kits manufacturers are typically SMEs,they cannot aff�ord it.

Thus, with a little supportfrom the government, LPG canbecome a preferred fuel forautomobiles—at least untilsuch time as electric mobilitybecomes economically feasible.

Why LPG can be an interimoption for green mobility LPG vehicle emissions are lower than

even BS-VI-compliant petrol automobiles,

says Suyash Gupta, DG of auto LPG body

Suyash Gupta, Director-General,

Indian Auto LPG Coalition

HEMANI SHETH

Mumbai, December 24

Cybersecurity is a critical aspect of the current digitaltransformation with cybercrime being a major threat,according to Keshav Dhakad,Group Head and GeneralCounsel, Microsoft India.

Dhakad spoke to Business-line about the current state ofthe cybersecuritylandscape and the focus area in terms ofcybersecurity in India in the near term,including a nationalcybersecurity strategy. Ex-cerpts here:

How has the cybersecurity

landscape evolved during

the pandemic?

The landscape has defi�nitelyevolved to a new level, all together across the society andeconomy because of the pandemic and we are still not outof the woods.

There are three clear trendlines, remote work has exposed more vulnerabilitiesthan in the past. The attackshave not only increased insize and scale but also insophistication. The currentdigital state is more distrib

uted, more diverse. And it’s ascomplex as well, which, is alsoleading to a rise in cyber attacks.

According to data fromCERTIn, cyberattacks rose byalmost 300 per cent in 2020compared to 2019.

We are seeing the government really increase their investment to fi�ght cyber

threats. The funds allocated by MeitY totackle cyber threathas increased morethan fi�ve fold since201516.

This will be one of the mostdisruptive forces at this pointin time. It’s a cyber pandemicthat’s happening alongsidethe real pandemic.

Cybercrime is costing economies more than $6 trillioneach year.

And that’s expected to increase to $10 trillion by 2025.The scale of how much disruption is caused alongsidethe digital transformationneeds to be underscored.

There’s also a very clear aspect of the lack of skilled professionals, who not only understand the sophisticationof cyberattacks but also, areable to manage a modern se

cure environment as compared to a traditional one.

Cybersecurity industry isgrowing at a CAGR of 21 percent, it is going to hit over$13.6 billion by 2025.

Experts including India’s

national cyber security

coordinator Rajesh Pant

have spoken about a

national cybersecurity

strategy. What are the

aspects that the policy

needs to focus on?

The government has in

creased its investment inlooking at what are the cybersecurity needs of the country,and they have been building anational cybersecuritystrategy. General Pant spokeabout it, that it has to supportthe governance structurethat is required to build a resilient nation, which is on apath to adopt digital technology.

It needs a central apex bodyto manage and also coordinate diff�erent agencies thathave a diff�erent stake in cyberspace.

What are the focus areas in

terms of best practices and

investments in cybersecurity

for organisations in India in

2022?

What is also happening isnow is that security is becoming more of an essential service as compared to an afterthought of adoptingtechnology.

A lot of focus is going towards protection, but detection is becoming more andmore critical.

One of the premium issuesthat the industry has seen isjust basic thinking of cyberhygiene. And lastly, I would

say the cloudfi�rst digitaltransformation strategy. Weare coming out of the legacyto move towards cloudbasedsecurity and it’s hard to protect environment that areprimarily onpremise.

On the industry side, ourbiggest focus would be zerotrust. this is something thatevolved during the pandemic.

Security has to come as abuiltin part of your digitaltransformation story and digital transformationroadmap.

Lastly, data has to have acentral role as data exponentially increases with time.

Regulations will bring ahigh degree of data governance, and under the datagovernance also sits, how youreally manage in a unifi�edway, all the data that you’regenerating, and where you’restoring and how you’re securing them.

And then also understandwhat the regulatory environment looks like. I think thesethree things will defi�nitely bea priority for next year, ascompanies prepare for India’s fi�rstever data privacyregulation.

What will be the focus of

Microsoft’s efforts and

investments in the

cybersecurity space?

First of all, our partnershipwith the government, whichhas been longstanding. Wewould want to continue tobuild on it. Because that involves the sharing of threatintelligence.

We are working veryclosely with certain intelligence offi�ces as well, whereour commitment is to furtherenhance that collaboration.We are leveraging our bigdata.

We analyse over 8.3 trillionsignals each day globally forpotential malicious activityin email, on desktops andlaptops, and in the cloud applications.

It enables us to collaboratewith the government on thedata that’s relevant for them.

Third, skilling investments,security skilling and preparing the next generation of security leaders. Overall, globally Microsoft announced itwill invest $20 billion overthe next fi�ve years to accelerate eff�orts to integrate cybersecurity by design and deliveradvanced security solutions.

‘Cybercrime is a pandemic that’s happening alongside Covid outbreak’

O

ZY

cybercrime is the biggest

threat that is costing

economies more than $6

trillion each year. And

that’s expected to increase

to $10 trillion by 2025Keshav DhakadGroup Head and General Counsel,Microsoft India

YZ

MUMBAI

BusinessLineSATURDAY • DECEMBER 25 • 2021 9NEWS

OUR BUREAU


Union Finance MinisterNirmala Sitharaman on Friday asked bankers to sort outall issues concerning jewellery retailers and exportersby January 10, ahead of Pongalfestival.

Chairing a meeting ofbankers and members of jewellery retailers association inChennai, Sitharaman saidbankers should closely workwith the jewellery trade to address issues relating to exportcredit, loan disbursement,customer facilitation andother banking services.

“It was a very meaningfulmeeting. The jewellers wereallowed to highlight their issues over the counter to thebankers in the presence of theFinance Minister”, a jewellerwho participated in the meeting said.

When some of the jewellershighlighted that they areforced to change banks frequently due to poor responseor lack of loan availability, theFinance Minister asked thebankers to improve the quality of their service in order to

retain their customers.

‘Explanations asked’A jewellery exporter fromChennai described the meeting as a ‘booster shot’ to thesector as Nirmala Sithramanpatiently listened to each oftheir grievances and, in somecases, asked bankers to explain the reason for delay ordefi�ciency in service.

He explained thatwhenever there is an inwardremittance in dollars on goldexports, banks insist exporters convert them to rupeesbut buy dollars from themwhile paying for their futuregold imports. “When I sell dollars to a bank, it is at ‘X’ ratebut when I buy from them it isat a rate of ‘X+5’ and it’s veryunfair on the exporters,” hesaid.

While some bankers explained that exporters can retain their dollars in ExchangeEarners’ Foreign Currency Account (EEFC) or exercise otheroptions, many jewellers werenot aware of such options.

The Finance Minister thenasked bankers to fi�rst educatethe customers about various

products that are available.She also said bankers must encourage these businesses toregister under MSME to availinterest rate benefi�ts.

‘Before harvest festival’“The meeting was very satisfactory. The Minister askedbanks to clear all the grievances of the jewellery sectorby January 10 so that the jewellers can apply for fresh loansor avail fresh export creditahead of the Pongal festival,” aretail jeweller said.

He also represented at themeeting that banks have beenwary of lending to the jew

ellery sector ever since theNirav Modi scam broke out.

“We said that is the case ofdiamond exports whereas weretail jewellers are in the business of selling gold jewelleryin the domestic market.Whatever loan we take frombanks are in the form of jewellery displayed in our showrooms,” he said.

The fi�nance minister tookcognisance of all issuesplaguing the sector and assured them of full support.One of the participants saidthat the industry did not placeany Budget proposal to theFinance Minister.

‘Bankers must also encourage these

businesses to register as MSMEs

to avail interest rate benefits’

FM told banks to address jewellers’ grievances by January 10 so that

they can apply for fresh loans and avail fresh export credit ahead of

the Pongal festival, a jeweller said

In a ‘booster shot’ to jewellers, FM tellsbankers to sort out issues facing trade G BALACHANDAR


Union Finance MinisterNirmala Sitharaman on Fridaymet with representatives ofvarious industry associationsin Tamil Nadu including microand small enterprises, textiles,handloom, powerloom, hotel,poultry and weavers and industry chambers in Chennai.

“The Finance Minister metwith members of 17 diff�erentassociations, divided into fourgroups. Textile associationmembers discussed the recentGST rate hike to 12 per cent, thepoultry associations spokeabout soybean import, whileSilk Sarees Association fromKancheepuram and Aranisought separate HSN code.

The Hotels Associationwanted clarity on invertedduty structure. MSME (micro,small and medium enterprises) associations such as Codissia also made their plea. FMpatiently listened to all members’ representations. Themeeting lasted for an hour,” KAnnamalai, BJP’s Tamil NaduPresident who was present inthe meeting told BusinessLine.

Raw material costsRepresentatives of MSME associations included the TamilNadu Small & Tiny IndustriesAssociation, Coimbatore District Small Industries Association, Southern India Engineering Manufacturers’

Association and Indian Chamber of Commerce.

“They called us yesterday tomeet the Finance Minister andwe were given 10 minutes tobrief her about our demands.We presented a memorandumon behalf of the MSME segment. We were also asked tospeak for a few minutes andwe explained about the impact of the raw material pricehike. Since MSMEs are short offunds, we requested for conversion of the existing working capital into term loans.Also, we requested for freshcapital support as adequatemoney in the hands of MSMEswill help them stay in businessand contribute to the growthof the economy,” a member ofan MSME association toldBusinessLine.

GST issuesIn its memorandum to the Finance Minister, Codissia presented GST related issues. They included increase in turnovercriteria for registration andtaxability to ₹�1 crore from ₹�40lakh, relaxation in supply ofservices under Compositionscheme, Collection of Tax under the Composition Schemeby Service Providers, GST ratecuts from 18 per cent for cement and automobiles, fi�xingof twoslab GST rates for allcommodities and reduction intax liability for bad debts,among others.

FM meets representatives ofindustry associations in TN

OUR BUREAU


The ruling BJP maintained onFriday that the Opposition didnot allow Parliament to function and the ruckus impactedthe productivity of the WinterSession.

Talking to reporters here onFriday, Petroleum MinisterHardeep Singh Puri and BJPMP and spokesman Sudhanshu Trivedi said the Opposition has all rights toprotest, but disrupting theproceedings is not appropriate for a responsibleOpposition.

“It was clear from the Congress’s stand within theHouse that it did not want asmooth functioning of theHouse,” Trivedi said. He addedthat the BJP is the largest political party that may have thebiggest responsibility to runParliament but no party cansay it has no responsibility.

BJP’s charge comes close onthe heels of the Congressblaming the ruling party forthe stalemate in the House.The House was stalled by theOpposition protests over thesuspension of 12 of their MPson the fi�rst day of the session.

Ludhiana blastPuri, also the BJP incharge ofPunjab, said the Centre is carefully watching the developments in the State where oneperson died after a blast inLudhiana. He said the UnionLaw Minister Kiran Rijiju has

visited the location and thefacts will be available verysoon.

Trivedi evaded questions onthe cases registered againstcertain people for communalspeeches in Haridwar and saidthat the BJP did not have anyrole in the function wherecommunal speeches weremade.

BJP blames Congress forstalling Winter Session

P MANOJ

Mumbai, December 24

A Central government panelhas given fi�nal approval for viability gap funding of₹�1,224.80 crore to Pune MetroLine III being built by Tata andSiemens consortium on apublicprivatepartnershipmode.

The 23.20kmlong PuneMetro Line III line connectingMaan (Hinjawadi) and CivilCourt (Shivaji Nagar) is beingbuilt at a cost of ₹�7,420.31crore on a design, build, fi�nance, operate and transfer(DBFOT) basis for a 35yearconcession extendable by another 25 years.

The Centrewill share₹�1,224.80 croreof the total viability gap funding of ₹�2,351crore sought bythe TataSiemens consortium as grantfor the project.

The balance VGF of₹�1,126.20 crore will be borneby the Maharashtragovernment.

Project cost revisedThe TataSiemens consortium,a lone bidder on the tender,had sought a VGF of ₹�2,351crore, about 40 per cent of thetotal project cost estimatedinitially at ₹�6,124 crore. Theproject cost has since been revised to ₹�7,420.31 crore.

“The Empowered Committee unanimously recommended to the Finance Ministerthe fi�nal approval of VGF support under the scheme for fi�nancial support to PPPs in infrastructure to the projectproposal of Pune Metro LineIII on PPP mode submitted by

Pune Metropolitan RegionDevelopment Authority,” according to a government document seen by BusinessLine.

FM will have to approveThe fi�nal approval for the VGFgranted by an EmpoweredCommittee led by Ajay Seth,Secretary, Economic Aff�airs,will have to be signed off� bythe Finance Minister NirmalaSitharaman.

The recommendation ofthe Empowered Committeefor VGF of more than ₹�200crore needs approval fromthe Finance Minister, according to the VGF guidelines forfi�nancial support to PPPs ininfrastructure sector.

The project is being implemented by Pune IT City Metro

Rail Ltd, aspecial purposevehicleformed byTRIL UrbanTransportPvt Ltd (aunit of TataRealty andInfrastruc

ture Ltd) and Siemens ProjectVentures GmbH.

The TataSiemens consortium has given an undertaking that it will abide by theprefi�xed initial tariff� outlined in the concession agreement to set the fares and thesubsequent escalation mechanism without seeking recourse to a Fare Fixation Committee under Section 34 ofMetro Railways (Operationand Maintenance) Act, 2002.

The Maharashtra government has also given a letterconfi�rming that it will not request the Central government to constitute a Fare Fixation Committee for theproject and will honour thefare fi�xation formula stipulated in the concession agreement, according to thedocument.

Tata-Siemens JV is

constructing the

23.205 km-long line

Govt panel gives fi�nal nodfor ₹�1,224.80 crore VGFto Pune Metro Line III

VENKATESHA BABU

Bengaluru, December 24

Syngene International, an

early player in the CRAMS

(Custom Research And

Manufacturing Services)

segment, was spun off from

Indian biotech major Biocon

to offer contract R&D

capabilities and is now a fully

integrated player. When

global pharma majors like

Glaxo Smith Kline, Bristol

Myers Squibb, Amgen or

Baxter need a reliable partner

to co-innovate today,

they turn to Syngene.

Jonathan Hunt, MD

& CEO of Syngene,

spoke to BusinessLine

on what sets the

company apart in the

competitive CRAMS space and

the road ahead. Excerpts:

Recently, Amgen renewed

its research collaboration

contract for five more

years. You seem to have

sticky customers who work

with you for longer periods

instead of the traditional

industry norm. What is

different?

That is because of our business model. What we do, including how we operate,doesn’t have a lot of precedents in India. Some look at usas just another derivative ofthe Indian generics industrybut we are not. We are a services business focussed onscience and innovation.

Inside our campus is themindset is that we are aPeople’s Republic of UnitedStates FDA (Food & Drug Administration). We operate in

a highly regulated industrythat has controls, checks andbalances apart from gov

ernance and rigour.We operate to asingle standard ofglobal science,driven by excellenceand a high compli

ance regulatory mindset.Whether it’s the US FDA,European or Indian regulators, we meet and exceedtheir standards every day. Itis one of the things that reassures our global clients.

We don’t do much with Indian partners because the Indian life sciences industry isnot yet fully focused on innovation. Our global partners range from companiesin Australia to Japan, Europeand, of course, North America. What they’re looking foris intellectual collaborationand added value.

Haven’t CRAMS or even

CDMO (contract diagnostic

and manufacturing)

services been offered

earlier by a number of

players including the likes

of Divi’s and Cadila?

Not really. Unfortunately, thenomenclature doesn’t help.

It’s like alphabet spaghetti insome ways with CRAM’s,CDMO, or R&D discovery services.

We focus more towardsthe research innovationpiece, the front end. So thinkof us, predominantly, as scientists in labs doing innovative experiments. Some companies you mentioned, forinstance Divi’s, I thinkthey’re a really good company, but they are downstream of that, into manufacturing, but it is diff�erentfrom innovating up thevalue chain. So we’re a bitfurther upstream.

Divi’s, for example, is particularly strong at manufacturing. In the pharma industry, the average timelinefrom having an idea to getting a product to the marketwould be 10 to 12 years. Wedo a lot of work in years 1/2/3,even into year 4. Some organisations you describe aremore active in years 7/8/9/10.

Does such co-innovating

reflect in your margins?

On a global basis, across ourChinese, European, Indian,or other competitors, ourmargin structure is above av

erage and often upper quartile.The more you are seen asa scientifi�c equal and asource of good ideas andproblemsolving solutions,the stickier clients are andlonger the contracts will be.We have worked on becoming a platform for integrativedrug discovery that allows usto sit, not just with big clients, but with players of allsizes. Today, we count amongour clients eight of the top 10and 18 of the top 25 biopharma companies in theworld.

We off�er a good fi�t for innovative startup biotechs.We are (nearly) a 30yearoldcompany of real scale,breadth, depth and experience who they can collaborate with. Because they’resmall organisations, theydon’t have masses of departments to manage contracts,relationships and outsourcing.

You have more than 400

clients. Beyond the pharma

sector, what other

segments are witnessing

growth?

The animal health segmentis growing well. Six of the top10 animal health companieshave their antecedents in being divisions within pharmacompanies. We also have clients in the nutraceutical andcosmetics business whichare . a good adjunct to ourcore business.. But actually,the core business is humanhealth, be it pharma or biotech, megacap corporations or innovative startups.

‘We co-innovate with global pharma’

O

“The more you’re seen asa scientific equal and asource of good ideas andproblem-solving solutions,the stickier clients are.”JONATHAN HUNTMD & CEO of Syngene

................BM-BMECMYK

MUMBAI


Since it is the 25th of December, this quiz is all about people

born on Christmas Day. Merry Quizzing!

Questions

1One of the greatest infl�uences on modern science, which

genius born in the 17th century had two terms in Parliament

as the Member for the University of Cambridge and also served

as the Master of the Royal Mint and the President of the Royal

Society?

2Born on Christmas Day, 1954, which Scottish singer and

songwriter teamed up with Dave Stewart to form a group

named after a system of exercise and delivered a string of hits

in the eighties?

3In November 2015, who became the 23rd Prime Minister of

his country, following the footsteps of his father who was

elected as the nation’s 15th PM in 1968, and had a second term

starting in 1980?

4Which eminent educationist and three time President of

the Indian National Congress was posthumously conferred

with the Bharat Ratna on 24th Dec 2014, a day before his 153rd

birth anniversary?

5This leg break bowler took two fi�vewicket hauls on his

debut for Australia in 1925 and went on to take an

astonishing 216 wickets in the 26 tests he played. He is also

regarded as the bowler who popularised the ‘fl�ipper’ — a

delivery that has back spin imparted on it and tends to stay low.

What is his name?

6Producer director Kamal Amrohi’s magnum opus,

Pakeezah, also featured one of the fi�nest soundtracks ever

in Indian cinematic history. But as the production of the fi�lm

stretched well over a decade, the original music director,

Ghulam Muhammad, passed away before completing the score.

Which great music director completed the background score

and added a couple of songs for the fi�lm’s release in 1972?

7Which Indian politician served ten terms in Parliament,

fi�rst elected from Balrampur in UP in 1957 and winning his

fi�nal election from Lucknow in 2004?

8Born in Mumbai on Christmas day, 1936, he moved to New

York, gave up his family title of Abdul Rahman and, in 1961,

along with an American director, started what is regarded as

the longest partnership in cinematic history. Their fi�rst

collaboration was the fi�lm ‘Householder’ featuring Shashi

Kapoor and Leela Naidu. Name him and his partner.

9Which actress, who started her fi�lm career opposite Salman

Khan in the fi�lm Baghi in 1990 and has also starred in a

series of Telegu and Tamil hits, was named Nandita Arvind

Morarji at her birth on Christmas Day, 1974?

10The younger brother of an Indian Prime Minister, which

Indian painter and sculptor lost most of his hearing at

the age of 11 when he fell into the rapids while crossing a bridge

in Kashmir? He regained his hearing after an operation in 1998,

62 years later!

Answers1. Sir Isaac Newton, the man who defi�ned gravity

2. Annie Lennox, the group was Eurythmics

3. Justin Trudeau, the eldest son of Pierre Trudeau

4. Madan Mohan Malviya, regarded as the founder of Banaras

Hindu University

5. Clarence Victor Grimmett, usually known as Clarrie

Grimmett

6. Naushad Ali

7. Atal Bihari Vajpayee, who served three terms as the Prime

Minister of India

8. Ismail Merchant; his professional and romantic partner was

James Ivory, and Ruth Prawer Jhabwala wrote most of their

scripts

9. Nagma

10. Satish Gujral, the younger brother of Inder Kumar Gujral

joy bhattacharjya is a quiz master; t@joybhattacharj

in-faq by joy bhattacharjya

BLOOMBERG

December 24

UK Covid19 cases surged to anew record for a second dayfuelled by the fastspreadingOmicron variant, piling pressure on Boris Johnson as heconsiders whether to tightenpandemic regulations afterChristmas.

A total of 119,789 new caseswere logged on Thursday, according to data published onthe government’scoronavirus dashboard.That’s more than double therate seen at the start of themonth, and an increase ofmore than 10,000 on Wednes

day’s caseload — which hadalso been a daily record.

Johnson has already introduced new lighttouch restrictions to try to limit the spreadof Omicron. The Prime Minister has said he won’t do morebefore Christmas, but haswarned further measures arepossible after the holiday. Doing so would likely anger

rebels in his ruling Conservative Party.

While the administrationsin Scotland, Wales and Northern Ireland have already detailed new curbs that willcome in after Christmas, Johnson doesn’t plan any announcements until afterDecember 25.

But the steep rise in infec

tions will add weight to the argument of his scientifi�c advisers, who say the sooner heclamps down on householdmixing and indoor hospitality, the more he can ease pressure on the National HealthService.

In more positive news, theUK Health Security Agency reported Thursday that patientswith Omicron are 50 to 70 percent less likely to be admittedto hospital, compared tothose with the previouslydominant delta strain.

Still, the agency warned,the highly infectious natureof the variant could still leadto signifi�cant numbers ofsevere illness that squeeze thehealth service. It also said datashowed that the eff�ectivenessof booster vaccines wanesmore rapidly against Omicron than delta.

In a new record,

119,789 new cases

were registered

on Thursday

People walk through Kings Cross Station on Christmas Eve amid the

Covid-19 outbreak in London on Friday REUTERS

Covid surge worries UK, may tighten rules

BLOOMBERG

December 24

The European Union is weighing a broad set of new powers,including possible export controls, that will give it the abilityto protect the bloc’s supplychain during periods of crisis.

The European Commission,the EU’s executive arm, will unveil the proposal as soon as thespring, according to an EU offi�cial familiar with the plan.

Covid chaosThe new rules will be part ofthe socalled Single MarketEmergency Instrument, a proposal designed to addresssome of the challenges the EUexperienced during theCovid19 pandemic when countries struggled to secure vaccines and protectiveequipment.

The commission will propose new measures to quantify,anticipate and counteract anydisruptions to the single market, including on industrialsupply chains, said the offi�cial,who asked not to be identifi�edbecause the plans are private.

Current tools inadequateJohannes Bahrke, a spokesmanfor the commission, decline tocomment on the details of theproposal. He said the pandemic “has shown that some ofthe current rules and tools forthe single market are insuffi�ciently adapted to crises andemergencies” and that the newproposal would help ensure“greater transparency and co

ordination when a critical situation emerges.”

“We need structural solutions in place for the next crisiswhich, whatever its nature, cantrigger major shocks in demand or supply that aff�ect ourindustries and can fragmentour single market,” the EU’s internal markets chief, ThierryBreton, wrote in a December 22letter to his staff�.

Supplies to Third World One of the ideas being discussed would be for the commission to monitor supplies tothird countries in periods ofdistress, replicating the vaccineexport control system. Underthat programme, which expiresat the end of the month, companies need to obtain nationaland EU authorisation beforeshipping Covid19 doses outsideof the bloc.

The proposal will also allowthe EU to request informationfrom companies on industrialproduction capacity, inventoryand lead time, and in somecases it would facilitate thejoint procurement of criticalgoods, according to the offi�cial.

EU leaders are expected tohold a fi�rst discussion on theSingle Market Emergency Instrument during a Paris summit on March 1011, with the offi�cial proposal likely to comelater, the offi�cial said.

Critical suppliesThe commission drew inspiration from the American Defense Production Act, the“America’s Supply Chain” executive order and other initiativesput forward by US President JoeBiden’s administration to address vulnerabilities in criticalproduct supply chains, according to the offi�cial.

Seeks to maintain

industrial and

medical supplies

for the bloc

EU mulls new powers tokeep up supplies in crises

................BM-BMECMYK

Company Prev Close Open High Low Qty 52 WH 52 WL PE BSE Cl Company Prev Close Open High Low Qty 52 WH 52 WL PE BSE Cl Company Prev Close Open High Low Qty 52 WH 52 WL PE BSE Cl Company Prev Close Open High Low Qty 52 WH 52 WL PE BSE Cl

K . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Kabra Ext [5] 365.10 357.10 368.00 371.00 355.10 152.43 379.05 87.95 40 356.90Kaj.Cera [1] 1227.80 1220.70 1236.00 1240.00 1205.05 168.07 1358.00 655.00 53 1222.05Kakt.Cem 211.85 207.85 212.10 213.55 207.00 4.67 319.00 153.80 18 208.30Kalp.Pwr [2] 366.50 363.65 370.65 370.65 360.00 86.81 495.95 298.65 14 363.15Kaly.Inv 1780.95 1766.65 1766.85 1788.95 1755.00 0.36 2436.05 1326.00 43 1758.25Kaly.Stl [5] 323.35 322.35 323.95 329.00 315.85 14.86 465.55 238.40 5 320.40KalyanJewelr 67.55 67.75 68.05 68.65 66.80 547.61 89.75 56.30 - - Kamat Htl 48.20 48.20 50.50 50.50 47.90 17.50 75.75 27.00 - 48.45Kamdhenu 211.15 208.90 213.00 213.00 205.55 25.00 280.00 97.00 18 211.80Kanani Ind [1] 14.05 14.70 14.75 14.75 13.40 267.00 14.55 3.35 - 14.67Kanor.Chem [5] 150.30 147.15 152.40 152.40 146.50 2.05 219.70 41.05 20 146.80KanpurPlastc 123.65 123.85 129.00 129.00 122.25 7.69 307.00 96.35 - - Kansai Ner [1] 584.05 575.80 585.00 588.95 572.30 74.23 679.60 521.75 57 575.30KapstonFacil 127.10 120.75 124.60 126.65 120.75 5.05 133.60 79.45 - - Karma Enr 28.85 30.25 30.25 30.25 30.25 9.86 36.75 11.58 - 30.20Karn.Bk 62.65 61.90 62.80 62.85 61.10 598.10 81.80 51.00 5 61.90Karur vys bk [2] 46.25 45.30 46.40 47.35 44.50 4112.64 64.50 38.40 9 45.50Kaushlya Inf 2.80 2.90 2.90 2.90 2.90 8.20 4.03 1.20 - 2.90Kaveri Seed [2] 518.80 531.25 514.30 536.00 512.10 176.65 815.85 468.55 15 531.25KAYA Ltd 431.20 416.75 425.15 432.25 415.25 5.28 575.00 232.50 - 415.85KBC GLOBAL 16.25 16.15 16.30 16.40 16.05 933.65 194.35 15.25 - - KCP [1] 123.40 121.90 122.70 123.40 119.75 89.94 168.95 67.45 9 121.85KCP Sug [1] 23.50 22.85 23.50 23.65 22.75 216.99 33.40 15.75 - - KDDL Ltd 811.70 800.95 807.10 820.70 790.75 21.15 958.60 191.94 71 800.30KEC Intl [2] 465.10 470.60 468.80 474.50 462.75 454.15 550.00 338.00 18 470.00Keertknw&Skl 18.95 19.00 19.50 19.60 18.60 11.86 32.65 16.10 - - KEI Ind [2] 1126.20 1144.50 1148.90 1160.00 1120.00 346.09 1264.00 450.00 32 1145.85Kellton Tech [5] 61.15 63.50 61.15 64.50 61.10 2316.65 91.95 39.25 52 63.45KennametlInd 1737.25 1715.65 1746.75 1746.75 1709.20 4.87 1889.30 783.00 - - Kesoram In 60.65 59.50 61.20 61.25 59.25 216.45 90.18 49.15 2 59.50Kewal Clo 258.40 243.10 258.30 258.30 240.40 185.55 299.00 153.40 27 243.50KeynotFinSer 108.10 114.70 115.10 118.00 109.20 41.72 131.65 51.35 - - KhadimIndia 255.90 254.05 258.10 261.95 251.40 18.42 358.90 114.00 39 254.35Khand.Sec 19.60 19.30 20.65 20.65 18.85 11.06 23.45 12.25 - 19.05KhatnChm&Fer 62.15 60.55 63.10 63.10 59.65 52.96 81.00 20.35 - - Kilitch 188.50 198.65 195.00 201.25 187.65 26.21 228.05 79.40 36 198.20Kingfa S&T 1089.75 1121.50 1100.00 1142.00 1040.70 13.74 1321.00 535.20 60 1113.55KIOCL 254.70 265.40 261.00 274.50 252.00 282.87 318.50 122.10 36 265.35Kiri Ind 472.95 461.80 473.10 473.10 459.55 49.94 678.70 405.00 220 461.35Kirl.Bros [2] 339.50 334.60 346.00 346.00 332.00 7.96 504.75 117.00 26 337.60Kirl.Ind 1501.15 1481.40 1509.50 1509.50 1479.00 1.47 1975.00 778.95 26 1481.00Kirl.Oil [2] 178.50 175.80 178.50 179.40 173.80 129.31 277.80 111.45 12 175.35KirloskarFer 201.60 198.35 201.60 202.50 183.65 63.87 314.00 118.00 - - Kitex [1] 185.15 188.25 186.00 194.35 181.25 919.99 224.45 91.75 16 187.55KM Sug [2] 24.65 24.65 24.85 25.20 24.40 197.14 39.15 9.60 6 24.65KNR Con [2] 285.25 285.95 286.05 288.00 282.60 114.36 343.55 159.40 25 285.50Kokuyo [1] 61.10 60.30 61.10 61.65 60.00 54.33 79.85 52.20 - 60.40KoltePatil 294.30 290.25 296.40 296.55 287.95 146.05 360.00 207.00 - 290.15Kopran 313.00 320.05 318.00 327.00 307.50 657.38 318.95 99.80 95 319.10Kot.Mah.Bk [5] 1775.60 1748.40 1780.00 1780.00 1730.00 2271.57 2252.45 1627.25 48 1748.25Kothari Pet [5] 67.10 68.75 69.00 71.40 66.75 2581.41 0.15 0.05 - - Kothari Pro 91.50 91.20 94.45 94.45 90.00 5.50 137.40 57.55 9 90.45Kothari Sug 31.05 31.05 31.35 31.75 30.90 59.28 15.85 4.45 - - Kovai Medi 1687.35 1664.85 1686.30 1695.65 1660.00 0.56 1899.00 1015.25 17 1670.65KPIGlobalInf 303.55 318.70 313.00 318.70 303.00 100.14 339.00 116.30 - - Kpit Tech 513.80 539.10 518.00 545.00 511.80 3335.83 545.00 104.35 - - KPR Mill [1] 608.75 614.90 608.75 617.00 601.05 969.46 646.60 169.80 32 614.75KRBL [1] 242.75 242.65 244.50 247.70 240.65 319.66 337.45 173.45 10 242.80Krebs Bio 161.80 159.75 164.40 164.40 159.00 10.46 207.15 82.50 - 163.35KridhanInfra [2] 6.60 6.70 6.90 6.90 6.30 684.73 7.94 3.30 - 6.72KrisnaInsMed 1323.60 1350.25 1345.00 1355.00 1310.05 79.37 1437.85 937.55 - - KrisnaPhoscm 171.25 170.20 170.10 172.65 169.50 8.61 199.70 80.00 - - KritiIndust 108.20 109.00 108.10 110.00 103.35 55.54 144.70 103.35 - - KrsnaaDiagns 657.05 645.40 663.30 663.30 638.00 105.36 1099.70 626.00 - - KSB 1204.50 1198.20 1220.00 1220.00 1187.40 4.80 1411.00 566.60 - - KuantumPaper 81.40 77.85 82.90 82.90 76.20 63.31 103.95 47.10 - -

L . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .L&T [2] 1878.45 1859.40 1888.75 1888.75 1850.00 1203.99 1982.95 1249.00 38 1859.50L&T Fin Hld 82.60 76.90 83.00 83.00 76.6531197.65 113.40 71.55 - 76.90L&TInfotech [1] 7033.50 7166.55 7071.00 7185.00 7070.00 363.45 7562.00 3525.95 62 7168.25L&TTechSer [2] 5314.65 5343.25 5341.45 5399.00 5310.10 178.01 5819.20 2232.80 69 5342.85La Opala [2] 424.00 418.15 425.00 426.80 411.50 194.98 450.00 201.10 57 418.30LagnamSpintx 53.30 53.35 54.40 55.65 53.10 24.12 62.50 44.55 - - LakFinIndCor 155.50 150.40 160.95 162.50 147.75 20.19 219.25 62.15 - - LambodText [5] 86.45 85.70 88.90 88.90 84.95 8.65 111.80 42.30 5 86.15Landmark [1] 8.85 9.25 9.25 9.25 8.50 550.25 9.35 1.63 - 9.37LasaSuperGen 70.85 70.05 70.95 72.90 69.50 107.55 100.15 55.00 31 70.25LATENVIEW AN 497.20 495.70 502.40 502.50 493.25 861.04 754.90 461.10 - - LaurusLabs [2] 505.10 501.65 507.65 509.20 498.45 1147.74 723.55 333.25 28 501.50LaxmiCotspin 22.70 22.50 22.70 23.00 22.25 16.79 27.30 20.75 - - LaxmiOrgInd 401.45 397.00 403.95 404.70 395.00 264.24 628.00 143.25 - - LCC Info [2] 4.05 4.25 4.25 4.25 4.25 35.35 5.70 1.18 - 4.63LemonTreeHot 45.85 44.95 46.40 46.40 44.80 1059.46 59.90 27.50 - 44.80LG Balakri 604.95 596.25 609.00 611.00 588.05 118.51 632.00 262.05 9 596.40LGB Forge [1] 12.20 12.80 12.80 12.80 11.60 2280.27 12.30 3.45 - 12.91LibasDesigns 29.00 28.95 29.70 29.70 28.75 172.68 76.40 24.50 - - Liberty Sh 154.50 151.55 155.00 156.75 150.45 72.27 215.50 116.50 26 151.60LICHsgFin [2] 363.30 355.90 366.60 366.60 354.35 1408.65 542.35 339.85 13 355.80LikhithaInfr 338.20 337.00 339.00 343.50 333.00 19.14 480.00 146.65 - - LINC 228.20 229.45 234.85 234.85 226.25 0.90 266.75 139.30 - - Lincoln Phar 340.65 346.85 348.15 351.90 340.00 77.03 414.75 205.00 11 344.70Linde Ind 2414.85 2426.45 2401.00 2456.00 2376.20 38.18 2947.00 886.00 80 2423.35LMW 8565.95 8558.20 8605.00 8749.00 8540.00 5.27 9950.00 4547.70 77 8555.55Lok.Mach 64.75 64.60 65.75 66.75 61.00 303.98 70.60 28.80 21 65.00Lotys Eye 50.35 51.60 51.95 52.20 49.05 40.13 58.05 30.25 33 52.15LT Ovrseas [1] 74.90 78.95 75.20 81.30 74.45 7489.49 90.40 48.85 21 78.90Lumax tech [2] 149.80 152.50 150.00 155.00 148.30 79.85 181.40 119.00 17 152.60Lumx Ind 1295.55 1245.90 1294.95 1294.95 1240.00 8.04 1820.00 1252.65 28 1246.95Lupin [2] 912.45 897.75 913.95 925.70 895.60 1353.17 1267.50 854.00 - 897.15Lux Indust. [2] 3763.35 3681.80 3780.00 3798.25 3658.45 31.77 4641.50 1565.60 33 3683.75Lyka Labs 254.30 253.95 257.00 267.00 243.05 1391.22 254.50 20.90 15 252.15Lypsa Gem 4.95 4.85 4.90 5.00 4.80 64.63 7.05 3.77 - 4.84

M. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .M&M [5] 826.85 812.65 831.00 832.05 808.00 1071.73 978.90 689.00 36 812.50M&M Fin [2] 150.55 145.05 152.00 153.60 144.30 5628.54 224.15 138.00 - 145.05Maan Alum 114.45 112.25 115.50 115.95 111.00 14.37 230.00 41.30 8 112.10MacpowerCNC 187.75 190.10 192.05 192.05 186.40 1.01 240.65 79.00 - - MacrotecDeve 1275.10 1246.20 1286.80 1297.30 1238.10 280.36 1539.00 422.60 - - Madhav 54.00 55.85 56.00 57.30 54.00 46.42 75.90 34.55 14 55.75MadhavCopper 33.40 33.00 33.00 33.65 32.55 18.49 116.00 29.45 - - MadyaBharat 175.60 173.80 176.45 180.85 172.15 12.77 227.40 113.00 - - MagadhSug&En 243.30 237.75 248.85 248.85 236.20 11.16 386.35 95.00 11 238.55Magn.Ven 9.40 9.40 9.80 9.80 9.10 179.21 12.48 4.12 4 9.34Mah.Cie.Auto 226.95 223.10 228.80 228.80 222.00 92.80 311.65 148.30 67 223.45Mah.Holi 192.65 190.20 193.55 194.35 189.60 136.80 267.00 126.93 28 189.90Mah.Life 236.45 226.80 236.50 241.75 225.20 182.17 299.30 109.52 - 226.95Mah.Scoot 3781.85 3756.20 3791.00 3809.90 3695.00 32.67 5023.35 3300.00 30 3748.45Mah.Seam [5] 501.95 500.90 503.00 512.15 494.00 59.64 578.00 265.75 9 500.35MahangrGas 858.20 848.95 859.95 862.75 843.60 272.91 1284.45 834.05 10 849.25MahaSteelInd 80.55 80.85 81.75 82.00 80.15 7.93 130.50 71.25 27 81.75MaheswariLog 88.00 87.00 88.00 89.05 86.65 11.34 140.40 73.30 - - MahindEPCIrr 121.50 118.40 123.95 123.95 118.00 26.81 178.20 113.10 - - MahindraLog 677.95 663.65 678.00 678.00 660.20 27.23 819.15 396.35 118 664.70Maithan 980.55 965.00 977.25 982.55 953.30 21.09 1255.15 511.45 7 963.55Malu Paper 30.70 30.90 30.25 31.40 30.25 17.58 43.80 24.30 - 30.65Man Ind [5] 98.05 96.40 99.50 102.90 95.20 295.39 147.15 71.30 6 96.60Man Infr [2] 94.75 96.85 95.30 97.50 93.00 929.78 107.90 20.77 31 97.00ManakAlumi [1] 22.20 24.25 22.20 25.00 21.50 695.13 26.90 8.00 20 24.35Manaksia [2] 63.40 62.45 64.65 64.65 60.85 56.19 78.70 48.20 48 62.40ManakSteel [1] 31.80 31.65 32.50 32.50 31.35 24.12 40.25 17.61 8 31.70Manali Pet [5] 108.50 106.50 109.90 109.90 106.15 180.30 138.50 31.15 5 106.55Manap.Fin [2] 166.00 165.85 167.00 167.40 163.05 1809.57 224.40 139.00 8 165.85ManCoatMet [1] 29.00 31.90 28.90 31.90 27.70 887.02 31.15 6.79 25 31.80Mang.Cem 364.50 364.35 370.00 370.00 360.00 13.00 543.00 212.75 8 365.10Mang.Chem 66.45 66.15 66.50 67.45 65.50 115.79 101.00 40.30 11 66.15Mang.Drug 119.35 118.40 119.15 121.85 117.00 19.08 196.50 91.00 11 118.50Mang.Timb 16.70 16.25 16.70 16.70 15.65 3.33 20.05 8.00 - 16.55MangalamOrga 988.00 979.75 988.00 1023.15 963.00 5.41 1299.00 811.20 - - Maral Over 89.45 98.35 88.05 98.35 88.05 312.82 102.55 21.20 6 97.95MarathNxtg [5] 121.60 124.90 127.65 127.65 119.10 359.84 122.35 42.25 69 125.20Marico Ltd [1] 508.00 505.60 512.90 513.10 504.10 1426.89 606.00 379.05 57 505.45MarineElecIn 43.65 42.65 44.95 45.70 40.40 5192.31 266.00 24.65 - - Marksans [1] 58.00 56.80 58.70 58.70 56.20 1247.93 97.50 49.20 21 56.85MarshalMachn 40.30 38.30 39.25 41.70 38.30 124.04 69.50 28.40 - - Maruti [5] 7387.15 7317.10 7441.00 7449.85 7252.15 357.45 8400.00 6301.20 55 7316.65MASFinServ 677.45 669.90 679.30 685.00 666.90 10.31 985.00 659.90 25 670.95Mastek [5] 2975.35 2993.50 2990.00 3049.00 2970.00 136.80 3666.00 1059.00 152 2995.70MatrimCom [5] 852.10 845.90 857.00 857.00 842.00 3.91 1242.00 779.10 37 846.25Maw.Sug 72.75 72.95 73.00 73.90 72.00 24.74 124.05 29.40 25 72.20MaxFinancial [2] 963.50 949.15 966.00 968.05 946.50 116.25 1147.90 644.30 178 948.60MaxHealthCre 407.35 413.80 410.00 417.95 405.15 1471.37 417.95 128.50 - - MaxIndia 75.00 74.85 74.80 75.55 74.75 74.82 84.50 56.75 - - MaxVent&Ind 127.30 124.70 129.90 129.90 124.00 106.95 157.95 40.70 - 125.05Mayur Uniq [5] 564.65 550.95 570.05 570.05 545.05 67.98 635.00 273.45 21 551.30MazagonDock 259.95 262.30 261.40 264.50 258.70 343.60 321.00 191.85 - - Mazda Ltd 610.40 610.30 612.00 616.00 601.65 1.54 753.70 414.00 15 622.30MBL Infra 30.65 30.00 30.75 30.75 29.65 142.88 34.95 16.05 5 30.00McL.Rusl [5] 26.65 25.50 27.00 27.00 25.25 486.63 43.35 17.30 - 25.55MCX 1594.65 1581.75 1600.00 1614.65 1575.00 248.70 2134.90 1434.80 53 1581.95MedicamenBio 924.80 982.25 933.00 999.00 904.25 148.36 999.00 539.55 - - MEDPLUS HEA 1121.15 1076.05 1107.00 1124.60 1026.20 4055.49 1143.90 1026.20 - - MeghManiFine 762.70 759.65 763.00 776.95 742.00 48.26 1038.05 650.00 - - MeghmaniOrga 111.20 107.25 111.10 111.70 106.15 674.21 149.70 81.10 - - MenonBear [1] 79.40 80.30 81.00 81.00 75.95 46.99 91.25 45.50 18 79.95METRO BRANDS 480.60 470.45 484.00 489.00 466.05 951.66 512.00 426.00 - - Metrpolhelth[2] 3242.30 3278.20 3274.80 3319.70 3183.15 174.93 3420.00 1846.50 71 3277.75MFL 27.45 27.20 27.80 27.80 26.90 116.34 24.70 12.15 - - Minda Corp [2] 171.35 167.40 172.65 172.65 165.00 418.60 179.70 83.15 31 167.15Minda Ind [2] 1167.40 1185.40 1155.00 1206.50 1150.05 1014.93 1249.90 387.00 172 1185.35MindTec(Ind) 159.40 167.35 161.30 167.35 161.30 151.57 182.30 40.10 62 167.45MindTree 4592.25 4621.05 4620.00 4655.00 4561.00 588.91 5059.15 1530.15 55 4622.55Mirc Ele [1] 27.55 28.75 27.50 28.90 26.90 2225.87 30.75 10.60 - 28.75Mirza [2] 119.30 121.45 120.50 127.35 120.30 1727.75 138.50 42.95 23 121.45MishDhatuNig 179.15 179.05 180.00 180.55 178.30 74.09 221.80 173.00 18 178.80MittalLifSty 13.60 16.30 15.50 16.30 15.45 639.09 16.30 8.25 - - MM Forg 750.75 727.60 759.95 759.95 722.15 11.10 968.95 380.70 18 730.35MMPIndustris 145.15 143.95 141.65 144.70 141.65 3.14 196.00 75.55 - - MMTC [1] 47.00 47.60 47.70 48.65 47.0016712.25 63.95 21.60 - 47.55ModisonMetal 79.90 79.00 82.00 83.00 78.00 50.59 104.90 52.05 - - Mohit Ind 14.00 14.70 14.30 14.70 14.10 30.92 22.05 5.71 6 14.43MOIL 179.70 180.10 180.00 181.60 177.80 633.92 208.00 133.70 15 180.05MokshOrnamnt 43.75 44.50 44.90 45.00 43.50 582.99 123.85 24.00 - - Mold-TekPac [5] 773.20 765.85 780.00 780.00 759.90 20.19 862.15 270.05 36 766.45Mold-TekTec [2] 84.80 80.65 85.50 86.50 79.25 106.75 107.95 32.00 20 80.65Monte Carlo 578.60 569.90 583.30 583.50 568.00 15.58 652.05 208.70 12 569.75Morarj.Tex [7] 26.45 27.75 27.75 27.75 25.15 307.37 26.60 11.30 - 27.90Morepan [2] 55.30 53.60 55.70 55.75 53.30 1967.40 75.00 27.25 26 53.60Most.Fin [1] 918.40 917.55 924.95 925.10 910.00 103.42 1188.00 568.25 15 916.95Moth.Sumi [1] 214.40 214.75 216.50 218.15 212.30 5858.54 273.00 143.35 64 214.75MphasiS 3186.40 3218.00 3224.80 3291.25 3182.50 862.70 3659.75 1399.30 49 3218.65MPS 643.70 625.85 643.80 645.25 621.10 11.57 805.00 340.50 16 625.45MRF 71029.60 70090.70 71300.00 71300.00 69706.75 8.52 98575.90 68719.90 25 70056.00Mro-Tek [5] 55.35 54.75 54.30 57.45 52.95 12.16 79.25 20.60 1 53.90MRPL 42.80 42.30 42.80 43.20 42.10 421.43 57.75 33.25 - 42.40MrsBectrFood 378.00 378.50 381.90 384.00 375.10 51.32 624.00 328.40 - - MSP Stl 10.00 9.95 10.30 10.30 9.90 482.09 13.35 7.00 - 9.95MSTC 333.10 328.20 334.80 334.80 326.10 192.58 542.00 142.95 - - MT Edu 9.15 9.20 9.40 9.45 8.95 293.15 13.74 6.22 - 9.23MTARTech 2274.30 2245.80 2277.00 2285.80 2225.00 95.48 2475.50 860.00 - - MTNL 30.50 32.25 30.80 33.35 29.3033968.58 30.65 11.65 - 32.25Mukand 126.55 125.45 125.50 128.65 125.00 89.48 166.50 55.15 7 125.75Mukta Ar [5] 46.70 45.60 46.10 46.70 45.00 14.56 65.35 25.60 21 45.75Munj.Auto [2] 50.60 49.75 50.95 50.95 49.40 49.21 72.80 47.60 18 49.65Munj.Showa [2] 117.65 118.30 118.20 119.65 116.00 18.63 176.45 115.15 17 118.50Murd.Cera 26.00 25.75 26.35 26.70 25.55 84.24 33.45 18.00 18 25.75MusicBrdcast 23.00 23.00 23.00 23.10 22.75 162.12 29.60 22.15 - - Muthoot Cap 347.60 352.05 345.05 360.00 345.05 6.69 495.50 327.00 - 352.00MuthootFinan 1494.20 1472.85 1492.00 1498.20 1468.00 462.80 1722.55 1090.25 15 1472.20

N . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .NACLInd [1] 84.55 82.95 85.00 85.00 82.75 97.85 94.80 35.30 25 83.05NagaDhunseri 1339.70 1324.90 1326.00 1390.00 1321.00 0.24 2175.00 615.95 - - NagarjunFert [1] 11.30 11.40 11.30 11.55 11.10 427.26 20.67 4.40 - 11.38Nagrk.Cap [5] 11.65 11.50 11.50 11.50 11.50 0.41 14.00 5.05 - 10.06Nagrk.Exp [5] 33.55 34.60 33.20 35.20 33.00 6.14 52.65 14.90 6 34.00Nah.Cap [5] 327.65 346.30 329.50 378.00 326.00 101.03 425.00 76.30 18 346.10Nah.Ind 116.20 114.80 118.40 118.40 113.50 27.10 151.90 38.05 4 114.55Nah.Poly [5] 249.90 249.95 250.00 257.90 246.00 46.84 319.75 78.45 10 249.75NALCO [5] 103.80 100.80 104.00 104.40 99.8522078.24 124.75 39.45 8 100.80Nalwa Son 1560.00 1531.70 1609.00 1609.00 1520.10 0.34 2165.55 875.00 16 1532.40Nandan Den 111.95 112.10 111.05 115.00 109.50 45.53 125.65 23.70 11 111.55NandaniCreat 95.35 100.10 96.80 100.10 95.20 45.49 100.10 45.15 - - NarayaHru 572.60 571.95 575.85 576.65 565.25 45.71 626.60 380.05 233 568.85Natco Phr [2] 840.55 847.00 836.60 852.00 833.75 221.76 1188.95 771.00 64 846.65Nath Bio-Gen 251.70 248.65 257.45 258.00 247.90 20.92 474.70 233.45 8 248.45Natl Build [1] 42.60 42.00 42.90 42.95 41.85 2333.09 59.80 28.10 30 42.00Natl Fert 50.40 50.15 50.95 51.25 49.80 323.19 73.75 34.65 24 50.25Nava.B.Ve [2] 110.65 111.30 111.80 113.50 110.95 154.94 133.00 53.50 7 111.35Navin Flu [2] 4006.95 3993.50 4024.00 4032.95 3943.00 75.17 4212.50 2219.00 80 3991.30Navkar Corp 40.75 39.80 40.70 40.80 39.70 275.03 54.70 30.50 13 39.80Navneet Ed [2] 90.30 89.55 91.50 91.50 89.10 70.88 121.55 72.30 27 89.50NBI.IndFinCo 2301.70 2292.40 2362.95 2386.45 2263.00 0.11 3200.00 1510.00 - - NCC [2] 69.85 68.50 69.85 69.85 68.05 2263.84 100.00 51.40 13 68.55NCL Ind 213.70 212.20 216.20 216.20 211.00 42.70 304.80 134.00 7 212.30NDRAutoCompo 352.35 356.55 363.50 370.00 342.10 14.26 408.85 178.20 - - NDTV [4] 121.65 119.90 122.65 126.70 117.95 275.25 143.00 37.00 15 119.70NECaryCorp 19.35 19.65 19.60 19.90 18.80 150.46 24.00 7.00 17 19.75Nect.Life [1] 26.45 26.20 26.70 26.70 25.90 290.05 48.40 18.50 - 26.25Nelcast [2] 82.95 81.15 83.80 83.80 80.60 77.70 100.00 57.30 39 81.10NeogenChem 1617.25 1596.05 1617.00 1627.75 1590.00 29.14 1844.00 676.35 - - Nesco [2] 573.00 571.35 572.00 578.00 566.00 33.04 697.00 463.50 23 573.30NestleIndia 19208.55 19224.20 19208.55 19434.05 19171.10 34.22 20599.95 15900.00 83 19218.10Netwk 18 [5] 87.25 91.50 88.90 91.60 85.00 2193.29 115.00 34.55 - 91.40

20 Micron [5] 57.90 55.85 58.50 58.50 55.50 192.53 74.80 29.25 8 55.8521stCentMgmt 48.05 47.10 47.10 47.10 47.10 3.92 63.45 10.13 - 46.553IInfotech 93.80 91.75 93.80 95.10 89.70 1513.22 119.30 52.60 - - 3m India 24812.25 25237.85 24988.70 25525.45 24850.00 4.20 30975.00 18800.00 135 25208.153PLandHold 14.00 13.65 13.50 14.00 13.50 3.99 18.80 7.65 - - 5PaisaCap 415.05 408.75 416.00 425.80 402.10 23.15 577.40 237.60 63 406.2563MoonsTec [2] 205.05 197.30 205.00 213.70 195.15 881.40 217.00 68.05 - 197.25

A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .AakashExplor 254.55 257.50 257.70 259.00 248.30 121.31 301.00 56.00 - - AareyDrgs&Ph 39.25 39.60 39.95 39.95 38.70 40.73 44.60 31.15 - - AaronIndust 110.90 110.35 117.95 117.95 108.60 5.27 136.00 45.05 - - Aarti Drug 521.10 524.80 524.80 529.00 514.25 153.94 841.40 491.15 24 525.35Aarti Ind [5] 964.85 956.60 969.00 969.00 950.05 367.85 1168.40 537.28 55 956.65AartiSurfact 986.00 985.40 1005.40 1005.40 975.50 8.12 1887.00 833.00 - - Aarvee Den 26.40 26.90 27.45 27.45 25.80 32.68 30.00 16.55 - 27.25AarviEncon 78.45 86.25 84.00 86.25 82.85 220.94 88.35 37.25 - - AavasFinance 2477.00 2465.55 2500.00 2507.00 2430.00 35.57 3068.30 1650.15 60 2464.85AB Money [1] 61.95 61.50 62.30 62.30 60.10 76.85 88.50 38.00 17 61.20ABB [2] 2263.80 2244.55 2283.50 2345.40 2232.00 220.69 2370.00 1191.00 142 2241.70AbbottIndia 18714.80 18423.45 18750.00 18750.00 18352.05 5.81 23902.30 13970.10 54 18429.25ABBPowerPro 2555.50 2541.55 2569.00 2585.00 2522.20 6.02 2855.00 1188.60 - - ABCapital 118.10 115.95 119.10 119.45 115.50 2431.68 139.60 78.80 - 115.90ABMInternat 101.30 98.35 98.60 102.10 97.00 0.63 160.00 85.55 - - ACC 2150.80 2126.05 2158.95 2162.00 2112.50 152.95 2587.95 1538.20 18 2127.10AccelyaKal 1015.05 1005.95 1021.10 1025.05 1000.00 7.94 1535.00 837.00 29 1007.40AcrysilLtd 814.05 797.00 822.00 822.00 792.85 76.70 927.90 181.25 - - Action Con [2] 213.50 210.60 213.55 214.95 209.10 217.72 291.55 125.30 22 210.60AcuracyShipg 193.10 193.00 191.25 194.90 191.05 6.77 218.85 34.00 - - Adani Ent [1] 1676.20 1698.20 1680.00 1703.95 1658.20 1234.39 1788.00 440.00 204 1696.45Adani Ports [2] 731.30 722.40 732.50 734.90 713.40 3946.75 901.00 462.95 95 722.40Adani Pwr 99.30 98.65 99.95 99.95 98.10 2572.16 167.05 45.05 - 98.65AdaniGreenEn 1422.05 1385.40 1425.00 1429.65 1380.10 674.14 1477.65 860.20 693 1385.85AdaniTranmsn 1822.45 1768.40 1792.00 1829.90 1760.50 317.18 2030.00 400.00 - 1769.65ADF Foods 794.90 799.70 799.80 804.90 791.40 4.73 1049.00 549.30 38 801.10AditBirSunLf 523.80 511.40 527.00 528.00 509.90 356.28 722.90 505.10 - - AdityaBirFas 278.75 272.70 278.75 280.50 271.20 1553.70 310.00 148.60 - 273.05Ador Weld 680.50 669.45 693.00 693.00 662.55 29.85 852.10 257.20 26 665.00AdvancedEnz[2] 334.25 329.25 334.50 335.80 327.00 34.61 503.00 300.90 55 329.45Advani Hot [2] 76.35 76.05 77.95 77.95 76.00 14.06 97.50 44.30 - 76.00Aegis Log [1] 219.85 217.35 221.25 222.45 215.50 260.04 394.40 191.90 32 217.10Affle(India) [2] 1072.20 1084.35 1079.00 1090.00 1065.00 152.84 1259.25 706.00 300 1083.85Agarwal Inds 390.30 385.95 397.85 397.85 381.00 17.76 472.50 97.10 17 384.95Agro Tech 963.55 947.75 968.40 968.40 946.55 1.20 1149.75 750.10 106 950.75AgroPhosInd 25.40 24.15 24.15 25.40 24.15 553.56 34.30 10.45 - - AhladaEnggrs 127.60 129.10 132.00 134.40 128.10 22.29 248.00 61.15 - - Ahluwalia [2] 409.30 408.40 409.70 414.00 407.30 4.82 483.95 201.95 22 408.35AIA Engg [2] 1835.15 1803.10 1825.00 1840.00 1793.00 10.56 2224.40 1751.05 40 1803.45AIRAN 23.50 24.15 25.70 25.70 23.50 396.60 35.95 15.05 - - AIRO LAM 62.45 60.45 62.50 62.90 60.00 28.23 88.70 52.00 - - Ajanta Phr [2] 2057.70 2122.70 2159.90 2159.90 2091.00 244.79 2420.00 1529.00 25 2122.45Ajmera 268.25 260.50 268.25 270.95 256.10 38.86 429.60 97.00 26 259.30AjooniBiotec 58.05 58.15 58.35 58.65 56.00 50.27 67.00 41.90 - - AJRInf&Tollg 1.90 1.95 1.95 1.95 1.95 647.74 2.90 0.65 - - AKGEximLtd 38.10 45.70 38.80 45.70 38.40 406.68 112.70 21.00 - - Aksh Opti [5] 10.75 10.25 10.95 10.95 10.25 1207.98 13.65 5.29 - 10.28AksharChem 446.10 437.80 460.90 460.90 433.05 10.29 613.50 223.10 21 440.50Akzo 2020.90 1974.10 2027.90 2027.95 1969.65 5.33 2510.00 1960.80 31 1975.40Alankit [1] 15.00 14.25 15.20 15.20 14.10 1515.88 27.15 11.50 - 14.30AlbertDavid 588.90 584.90 593.60 598.45 580.70 8.35 673.00 371.45 9 585.15Alembic [2] 100.55 101.05 102.55 102.55 98.50 163.29 143.30 92.30 30 100.95Alembic Ph [2] 783.95 768.20 786.70 787.00 766.40 118.53 1119.00 720.80 18 768.25Alicon [5] 830.80 823.55 830.80 834.30 791.00 18.60 998.75 324.90 62 823.05Alkali Met 84.90 83.55 87.05 87.05 83.05 23.18 111.10 45.90 - 83.55AlkemLabs [2] 3449.20 3460.95 3483.95 3483.95 3415.05 88.89 4067.70 2544.25 23 3461.60Alkyl Amine [2] 3166.05 3127.85 3189.00 3197.55 3101.10 20.17 4740.00 1462.02 52 3129.00Allcargo [2] 374.20 375.90 380.80 398.80 373.85 1903.94 395.90 121.25 29 375.95Allied Dig [5] 114.65 112.35 115.95 117.00 111.50 139.39 132.80 29.00 103 112.30Allsec 542.45 536.25 548.00 549.85 530.60 19.65 612.00 241.65 9 536.55Alm.Global [6] 125.55 127.35 134.70 134.70 123.55 18.91 155.20 19.00 65 128.45AlokIndus 24.85 25.45 25.00 26.25 24.7526980.07 32.25 18.70 - - Alpha Lab 59.30 65.45 58.55 67.00 56.10 548.31 73.15 33.60 10 65.20Alphageo 333.00 325.60 334.20 334.70 324.00 7.09 511.00 174.80 5 325.40Amararaja [1] 620.90 611.05 624.00 627.00 608.00 810.22 1025.00 584.45 16 611.05AmberEntp(I) 3394.55 3366.40 3404.00 3405.00 3311.55 29.17 3788.40 2286.55 142 3365.60AmbigaAgar 19.30 19.00 19.30 19.30 18.50 33.40 39.70 12.00 9 19.05Ambika Cot 1823.10 1817.55 1826.00 1838.90 1800.55 8.87 2349.00 800.00 8 1809.75AmbujaCeme[2] 369.40 367.90 369.50 370.80 363.20 1174.09 442.95 231.65 31 367.75AMD Ind 36.30 37.20 36.20 38.40 34.65 106.29 42.15 16.25 24 37.00AmiOrganics 954.50 932.95 950.00 978.80 924.00 397.60 1434.45 841.00 - - AMJLandHold[2] 33.25 32.85 33.85 33.85 32.50 32.67 42.50 21.25 - 33.30Amrutanjan [1] 901.45 898.70 900.10 909.45 893.30 25.09 1025.55 472.50 42 899.00ANAND RATHI 576.10 571.40 574.10 577.30 565.60 148.47 615.00 542.60 - - Anant Raj [2] 74.45 71.25 75.90 75.90 71.00 652.12 81.45 24.00 46 71.50AnantrajGlob 47.80 48.70 48.10 51.00 47.50 876.00 54.90 20.70 - - Andhar Sug 644.80 666.55 649.00 678.95 648.95 299.13 723.00 285.60 16 666.10Andhra Cem 15.95 15.75 16.20 16.20 15.30 284.80 37.40 5.13 - 15.75AndhraPaper 220.90 220.95 222.00 223.00 217.35 11.86 283.70 200.55 - - AndrewYuleCo 23.65 23.50 23.95 23.95 23.15 80.85 29.70 21.55 - - AngelOne 1169.95 1160.30 1174.80 1183.65 1141.05 212.71 1689.00 286.35 - - Anik Ind 26.95 25.90 27.65 27.65 25.65 49.46 28.95 10.82 5 25.80AnjPortCemen 302.25 298.00 302.10 303.00 296.00 10.20 531.00 190.00 10 298.55AnmolIndia 168.75 165.45 169.50 171.30 161.60 22.72 237.80 135.00 - - AntnyWastHdg 298.05 293.80 298.05 304.40 292.00 213.50 489.90 241.00 - - AnupamRasayn 884.40 904.95 889.95 915.00 870.95 217.60 915.00 474.00 - - Apar Ind 782.70 766.95 777.95 792.50 760.50 114.55 840.00 333.80 14 767.30Apcotex Ind [2] 353.05 340.95 350.05 353.30 339.00 58.67 460.00 153.15 21 340.90ApexFznFoods 295.15 287.95 295.25 295.95 286.00 93.78 435.20 200.00 25 288.40APL Apl [2] 1025.15 1008.50 1038.00 1038.00 1005.10 375.79 1113.65 367.20 113 1007.55Apollo Hsp [5] 4877.55 4842.50 4880.00 4905.95 4823.75 348.74 5930.70 2352.00 123 4840.55ApolloMicSys 119.85 126.70 124.40 128.50 121.60 968.92 155.20 86.00 29 126.65ApolloPipes 553.10 551.20 553.10 560.00 550.00 40.77 2000.00 515.00 - - ApolloSindo 816.80 804.95 814.40 824.20 804.00 3.56 1069.70 505.00 - - ApolloTyr [1] 210.55 206.65 212.00 212.00 205.90 2689.10 261.20 173.45 18 206.60Aptech 350.20 343.60 352.80 353.75 340.05 110.70 410.80 145.00 103 343.60AptusValHsg 334.10 336.20 337.95 345.45 334.00 69.45 381.40 278.60 - - Archidply 40.05 39.40 40.95 40.95 38.50 24.52 49.05 27.25 13 39.85Archies [2] 17.10 17.00 17.40 17.40 17.00 31.41 30.00 9.40 - 17.05Aries Agro 135.20 133.40 135.35 136.35 132.65 17.03 193.75 74.70 8 133.35ArihantSuper 165.70 170.95 162.60 173.50 162.60 288.95 206.00 29.10 25 170.20ArihntCapMkt 169.85 167.85 169.25 172.70 165.65 21.04 189.25 111.25 - - ArmanFinServ 869.55 862.40 875.70 875.70 855.25 3.24 1135.00 514.50 102 863.80AroGranite 74.50 73.45 76.40 76.40 73.05 42.15 84.90 36.70 10 73.95ArowGreenTec 121.10 118.75 123.55 125.80 116.20 23.42 179.85 53.00 34 117.65Arshiya [2] 33.05 32.00 33.40 34.60 31.80 104.66 44.45 14.80 - 32.05Arss Infra 29.85 29.40 29.30 30.75 29.00 57.38 37.40 18.60 - 29.40ArtemsMedSvc 39.75 41.35 41.60 41.70 39.20 310.39 412.80 32.05 - - ArveeLabsInd 80.75 84.15 86.95 87.00 81.45 1.46 92.60 43.55 - - Arvind 114.80 112.90 115.00 115.60 112.15 575.79 146.75 44.30 13 112.90ArvindFash [4] 279.05 272.90 284.95 284.95 272.00 52.72 364.00 123.20 - 272.90Asahi India [1] 487.90 470.15 494.00 494.00 467.00 141.98 533.00 244.00 41 470.05Asahi Song 285.25 296.30 290.85 309.80 284.00 49.85 442.65 223.00 12 296.95Ashapura [2] 96.25 96.60 97.00 98.05 95.60 52.01 176.30 88.50 11 96.95Ashiana [2] 170.00 170.35 170.85 171.00 168.85 46.50 209.95 93.10 - 170.00Ashima 17.50 17.25 17.75 18.00 16.80 180.99 21.65 11.49 - 17.30Ashok Ley [1] 125.85 122.85 126.30 126.30 122.50 5864.50 153.40 91.60 - 122.75Ashoka Bld [5] 94.05 92.30 94.30 94.30 91.55 840.39 125.00 78.40 6 92.15ASIAN ENERGY 131.85 131.50 131.65 132.80 130.15 19.10 152.40 125.00 - - Asian Gran 148.05 149.15 147.50 151.00 144.40 1106.38 257.10 116.00 9 149.45Asian Htl-E 189.35 189.85 186.65 192.30 186.65 4.88 239.00 140.00 176 191.50Asian Htl-N 70.85 70.45 72.40 72.40 70.10 1.97 105.80 56.10 - 70.15Asian Paints [1] 3267.90 3284.80 3280.00 3300.00 3261.00 651.40 3504.05 2261.45 98 3288.15Aspinwall&Co 141.10 139.10 145.90 145.90 137.05 6.41 268.30 126.55 - - AssoAlchohol 502.45 493.45 507.50 511.45 488.30 52.07 653.65 274.85 - - Aster Life 1494.45 1509.80 1479.00 1533.00 1469.30 26.42 1625.45 986.85 56 1515.15AsterDMHealt 178.45 172.30 182.00 183.80 167.50 473.33 237.25 132.55 - 171.90Astra Mic [2] 230.25 227.85 231.80 234.70 227.00 250.27 290.55 108.00 45 228.65Astral Poly [1] 2161.40 2118.55 2161.00 2165.30 2114.80 138.19 2431.90 1150.20 101 2121.65AstraZen [2] 3042.95 3034.45 3058.20 3076.60 3025.00 7.16 4900.00 2930.00 108 3038.65AstronPaper 49.65 49.15 50.50 50.50 48.50 14.87 74.40 35.00 17 48.95Atul 8815.10 8693.30 8848.50 8854.20 8600.00 20.3410975.40 6190.65 40 8697.25Atul Auto [5] 189.85 188.80 191.30 191.95 187.00 47.03 270.00 162.60 - 188.55Aurionpro 258.75 253.55 262.00 262.00 250.00 45.39 290.95 71.30 34 253.95AurobindoPh[1] 723.10 708.45 725.10 725.90 705.10 1485.77 1063.75 620.55 20 708.20AurumProptec 159.95 161.50 167.90 167.90 155.65 1639.57 987.00 12.20 - - AUSmallFinBk 1044.85 1027.75 1045.00 1050.30 1018.25 594.28 1389.00 840.50 28 1027.30Ausom 69.00 67.40 68.35 69.95 66.10 9.53 118.15 43.05 9 67.00Auto Axl 1406.85 1497.90 1393.95 1522.00 1372.00 70.35 1565.00 945.00 41 1503.70Autoline 57.45 57.60 59.15 59.15 56.45 10.46 79.35 29.65 - 57.60AvadSug&Egy 417.25 408.20 419.30 425.55 406.05 26.59 548.55 172.70 8 408.60Avanti Feeds [1] 547.75 539.30 548.95 550.40 535.55 104.48 675.00 411.85 34 539.30AvenuSupmart 4647.90 4628.90 4674.00 4674.00 4615.00 122.08 5899.90 2610.80 204 4627.20AVT Natl [1] 75.85 74.30 77.40 77.40 74.00 59.62 93.60 41.60 19 74.30Axis Bank [2] 678.80 667.50 681.15 682.00 662.45 6028.89 866.60 584.00 22 667.45AxisCades [5] 112.20 106.60 106.60 114.00 106.60 875.88 122.00 39.50 - 107.40AYM Syntex 95.75 95.05 95.40 96.60 95.00 9.79 123.00 35.10 9 95.45

B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .BafnaPharma 124.75 120.00 123.90 123.95 119.10 3.03 196.10 113.30 - - Bajaj Auto 3174.10 3152.05 3181.30 3195.00 3135.00 123.75 4361.20 3028.35 18 3152.80Bajaj Elect [2] 1332.10 1286.95 1322.10 1352.15 1264.00 396.95 1588.55 602.05 68 1284.40BAJAJ HEALTH 373.90 373.80 379.00 379.00 370.00 75.33 440.50 290.90 - - Bajaj Hind [1] 14.05 13.65 14.00 14.15 13.45 2974.58 24.75 5.20 - 13.65Bajaj Hld 5084.40 5021.65 5124.90 5140.00 5006.15 58.36 5654.00 3011.10 34 5027.45BajajConCare[1] 198.65 198.30 199.60 204.75 196.50 1065.83 323.50 178.85 14 198.70BajajFin [2] 6917.75 6852.00 6984.90 6987.95 6757.60 980.77 8020.20 4361.60 95 6851.40BajajFinserv [5] 16169.90 15920.55 16250.00 16250.00 15800.00 208.74 19319.95 8275.00 609 15920.55Bal Phr 100.95 100.45 101.95 102.60 100.00 21.13 137.95 50.05 14 100.65Balaji Amn [2] 3186.95 3127.15 3204.20 3229.50 3115.00 23.86 5220.00 887.35 34 3127.70Balaji Tele [2] 60.25 59.00 60.95 60.95 57.45 210.02 76.80 51.00 56 59.05BalaxiVentre 494.80 495.20 491.00 501.00 483.00 0.34 747.00 483.00 - - Balkrishna [2] 2143.95 2202.50 2168.00 2216.85 2151.30 497.11 2724.40 1516.80 30 2199.85BalkrishPap 27.45 28.80 28.45 28.80 27.20 4.39 32.60 17.10 - 28.45BalmerLaw 115.00 114.15 115.20 116.25 113.45 116.14 170.95 108.95 13 114.20Balrampur [1] 332.55 325.05 333.50 334.15 323.00 486.06 398.25 156.45 16 325.35Ban.Amn.Sp [5] 78.35 77.60 78.80 81.50 76.60 300.81 80.10 37.47 10 77.65Ban.Amn.Sug 2499.10 2468.30 2481.05 2524.95 2453.45 1.32 2850.00 1400.00 39 2458.55Banar.Beads 71.60 71.60 73.65 73.65 71.50 2.72 100.00 44.20 18 73.80Banco Ind [2] 169.15 171.30 170.00 173.95 168.00 52.57 225.00 126.20 11 171.30BandhanBank 259.00 255.05 260.00 260.00 251.40 3897.06 424.00 243.55 - 255.15Bang Over 34.90 33.75 35.60 35.60 33.35 24.02 54.85 24.70 14 33.85BankaBioloo 68.65 68.95 70.90 70.90 68.10 3.79 102.15 46.70 - - BankofBarod [2] 81.20 79.45 81.40 81.65 78.8523406.11 108.00 58.05 12 79.45Bans.Syn 221.45 228.20 224.70 229.85 217.00 40.59 255.85 82.20 9 227.90BarbequeNatn 1257.45 1224.05 1255.00 1272.10 1219.25 34.86 1945.95 481.85 - - BASF 2803.30 2775.50 2816.00 2818.00 2755.70 10.93 3926.95 1530.00 23 2781.55Bata India [5] 1857.55 1825.65 1860.00 1864.95 1820.20 171.48 2261.65 1265.00 966 1825.90Bayer Crop 4855.45 4823.30 4880.00 4900.00 4785.45 7.34 6127.45 4519.90 52 4831.90BCLIndust 332.15 329.00 331.00 341.45 328.00 138.41 358.80 98.00 - - BCPowerCon [2] 3.90 3.85 3.95 3.95 3.75 550.50 7.59 2.89 - 3.86Beardsell [2] 13.30 13.95 13.95 13.95 13.50 94.69 17.61 7.94 - 14.38Bedmutha 67.90 66.05 68.80 69.95 65.00 23.36 78.90 20.05 1 65.00BEL [1] 208.90 204.05 208.20 208.70 202.40 3061.08 227.95 112.50 22 204.05BEML 1709.85 1654.65 1710.25 1722.80 1650.65 193.85 2084.00 861.20 62 1654.30BergrPaintIn [1] 750.55 740.90 751.55 755.65 739.00 250.17 872.00 675.00 93 741.20BestAgrolife 992.50 978.55 1008.95 1013.00 976.00 22.22 1407.80 202.35 - - BF Inv [5] 306.20 307.75 308.10 309.20 302.00 14.23 445.95 260.00 37 307.85BF Util [5] 379.25 374.80 382.10 385.20 372.50 178.60 538.95 227.40 - 374.85BGR Engy 61.05 60.15 61.45 61.45 59.70 73.72 78.05 39.00 - 60.35Bhageria Ind [5] 249.80 245.45 249.60 249.95 244.05 12.01 328.55 141.25 16 244.95BhagiradaChm 993.55 976.60 974.00 992.80 972.05 1.34 1060.95 719.15 - - BhagngrInd [2] 43.75 43.60 43.95 44.75 43.10 14.39 65.00 29.60 - 43.85BhagyangrPr [2] 32.65 34.05 33.00 34.90 32.60 47.45 38.00 20.20 - 34.25BhandariHos [1] 8.00 8.40 8.40 8.40 8.40 178.01 8.75 1.33 - 8.85Bhans.Eng [1] 162.85 161.20 163.40 163.70 159.00 290.28 221.80 126.00 5 161.30Bharat Bij 1816.55 1841.75 1825.00 1863.95 1798.10 31.37 2050.00 849.40 18 1846.85Bharat For [2] 697.35 690.90 703.70 707.00 677.25 1368.27 848.00 510.00 39 690.95Bharat Gea 140.65 136.25 140.90 140.90 135.85 37.67 190.20 60.93 7 136.60Bharat Ras 10288.55 10215.05 10377.00 10377.00 10140.20 0.83 15100.00 9050.00 29 10275.95Bharat Wire 54.80 54.30 55.80 55.80 53.90 8.52 85.70 29.70 20 54.55BharatDynamc 386.05 381.55 387.50 388.80 380.80 64.02 455.00 316.15 21 381.65BharatRdNwk 29.60 29.40 30.20 30.35 29.00 54.95 41.40 26.35 - 29.70Bharti Air [5] 678.75 677.05 682.10 682.85 672.65 3756.02 781.90 489.32 - 677.05Bharti Infr 280.20 284.80 284.80 304.90 278.00 30.80 329.65 130.10 28 284.90BHEL [2] 58.85 57.15 59.10 59.25 56.9027427.21 79.50 32.30 - 57.15BigBlocCons [2] 51.65 50.35 51.75 52.80 49.10 150.80 55.45 15.44 - 50.45Biocon [5] 374.35 354.45 363.00 366.00 352.50 7151.66 487.70 314.90 344 354.45BioflChm&Pha 59.10 59.90 59.10 61.90 58.55 30.93 222.95 55.00 - 59.75BirlaCable 89.45 89.45 90.85 90.85 87.30 37.29 123.00 50.45 20 89.20BirlaCorp 1425.55 1383.00 1402.50 1426.80 1375.25 40.76 1649.00 680.80 24 1385.75Birlasoft 528.50 530.55 533.00 538.40 524.3011336.43 538.40 195.05 - - BirlaTyres 24.80 24.45 25.00 25.30 24.15 249.40 33.60 21.00 - - Bk of Ind 52.70 51.55 53.15 53.15 51.35 3560.90 101.45 47.40 8 51.50Bk of Mah 19.60 19.60 19.60 20.10 19.15 4916.64 31.95 12.10 17 19.65BL Kash [1] 27.70 27.70 28.25 28.25 27.40 155.46 33.00 8.04 19 27.70BLACK BOX 832.45 833.40 831.60 849.00 821.30 1.43 1750.00 775.50 - - BLB [1] 15.65 17.20 16.70 17.20 16.70 95.67 15.66 4.90 16 17.22Bliss GVS [1] 99.30 97.65 99.80 100.35 97.05 87.44 224.00 91.50 13 97.85Blue Dart 6212.05 6168.80 6255.00 6298.00 6149.55 5.45 7260.05 3810.65 46 6182.15BlueStar [2] 1005.85 977.20 1010.80 1013.20 971.85 26.90 1091.15 701.00 79 977.30Bodal Chem [2] 110.75 108.45 111.90 112.25 108.00 296.81 150.00 66.55 12 108.65Bomay Bur [2] 1051.20 1037.65 1054.95 1059.00 1034.45 21.98 1424.40 980.00 - 1036.95Bombay Dye [2] 107.30 104.30 106.45 107.35 103.50 7514.21 112.75 64.50 - 104.30BombySuprHyb 315.00 322.60 325.00 328.00 314.60 1.44 355.70 84.20 - - BOROSIL 430.75 416.55 433.50 435.00 412.40 246.34 498.70 158.00 - - BorosilRenew 645.30 642.75 653.50 654.90 636.30 209.77 747.90 161.00 - - Bosch 16857.60 16483.90 16800.00 16900.00 16410.20 35.96 19244.50 12500.00 35 16492.50BPCL 377.35 372.15 379.20 379.20 370.30 3143.79 503.00 357.55 6 372.10Brigade 495.70 494.05 493.00 497.00 482.20 577.39 528.60 219.80 42 493.25Britannia [1] 3554.60 3541.30 3560.00 3565.00 3519.00 136.78 4152.05 3317.90 53 3543.95Brooks Lab 99.60 94.30 99.70 101.00 93.70 89.51 155.00 49.95 - 94.50BSE 1863.40 1860.15 1871.40 1909.00 1833.00 613.94 2373.70 535.50 - - BSL 116.05 119.35 120.80 121.85 115.85 65.75 134.80 29.50 11 119.85BurgrKng(In) 144.90 143.20 145.80 145.85 142.80 650.13 196.50 126.10 - - Burnpur 4.10 4.30 4.30 4.30 4.30 84.75 4.36 1.96 - 4.57

C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

C.E. INFO SYST 1458.10 1430.75 1441.00 1453.00 1390.05 837.50 1590.00 1282.60 - - Cadila HC [1] 465.00 453.30 466.65 467.20 452.40 2143.62 673.70 408.40 39 453.45Cambridge 76.75 83.45 77.75 90.00 74.50 1149.05 97.70 24.55 45 83.30Camlin Fine [1] 132.80 127.10 133.00 133.50 126.00 355.14 230.80 100.60 - 127.15Canara Bk 200.50 193.95 201.70 201.90 193.0010186.28 247.60 114.50 8 193.90CanFinHom [2] 555.65 551.40 560.00 565.00 547.70 582.94 721.25 455.30 16 552.05CapaciteInfr 177.95 172.85 177.90 180.90 172.15 59.18 251.05 134.50 19 172.90CapitalTrust 117.75 117.45 118.85 121.00 117.00 7.58 153.85 70.60 - 117.15Caplin Point [2] 796.10 807.45 796.10 838.80 795.10 736.72 1034.00 402.00 32 807.65CapriGlo [2] 529.25 503.60 524.00 539.00 496.60 94.70 578.70 297.35 65 497.90CARE 586.05 586.50 589.10 596.60 584.45 103.94 791.15 410.00 22 585.35CarrerPnt 131.40 133.00 131.20 136.00 130.15 71.96 190.65 117.25 20 133.25CartradeTech 850.15 827.60 854.60 854.60 825.20 121.68 1618.00 825.20 - - CastrolIndia [5] 123.10 121.65 123.50 123.60 121.50 295.02 154.90 117.75 16 121.70CCL Prd [2] 399.40 397.10 401.90 401.90 394.20 92.28 495.00 225.00 32 397.50Ceat 1078.50 1080.30 1086.45 1086.45 1067.05 52.57 1763.15 1049.10 13 1079.65CEEBCO 43.10 43.15 44.50 45.05 42.25 254.34 48.95 14.60 31 43.10Celebrity 14.55 15.25 14.75 15.25 14.75 160.77 17.50 4.99 - 15.13Cent Enka 407.55 421.40 401.35 489.05 401.35 365.17 518.00 200.15 5 422.40Cent.Bk 21.15 21.95 21.20 23.30 20.7016044.91 29.65 12.48 - 21.95Cent.Elec 578.80 561.90 589.00 590.00 558.00 36.60 638.95 350.00 189 561.20Cent.Ext [1] 11.30 11.15 11.30 11.55 10.95 247.90 13.90 3.86 - 11.15Cent.Ply [1] 583.30 582.65 595.00 595.00 573.00 149.84 714.95 223.85 44 582.30Cent.Txt 889.90 913.65 897.00 930.00 885.30 1834.98 1003.25 355.75 64 912.75CentDepoSer 1492.90 1463.60 1499.50 1499.50 1460.00 579.48 1734.40 475.00 - - CentrumCap [1] 31.55 31.40 31.85 32.15 31.00 249.64 58.50 15.90 - 31.40Cera San [5] 4879.60 4877.35 4897.90 4907.95 4871.10 2.29 6430.45 3194.40 50 4872.90Cereb.Int 83.15 81.95 84.00 85.90 81.40 820.74 87.75 30.85 51 82.10CESC [1] 86.85 85.25 87.00 87.15 85.10 1683.17 102.45 57.50 14 85.30ChaletHotels 222.10 218.05 222.10 222.55 217.00 64.92 292.50 125.05 - 218.30ChamanLalSat 97.85 96.80 97.85 99.90 95.35 45.49 155.00 89.25 - - Chamb.Frt 392.80 380.75 393.50 394.90 379.70 1754.05 451.00 207.30 11 380.75ChembondChem 209.75 205.95 212.35 213.60 205.00 14.14 220.00 120.00 - 147.40ChemconSpecl 362.20 359.85 363.05 364.60 357.75 59.83 569.40 338.30 - - ChemfabAlkal 143.10 147.80 146.90 150.00 145.50 11.76 218.20 115.00 - - ChemplastSan 550.70 549.30 550.70 558.05 541.55 106.63 826.00 510.00 - - CholaFin [2] 539.65 520.05 541.00 542.00 517.65 1838.45 667.50 358.65 27 520.20CholamandF [1] 682.85 655.00 676.95 678.00 650.90 55.75 763.05 486.50 251 654.80Cigniti Tech 552.80 543.50 553.00 559.30 539.10 61.38 677.00 310.60 36 544.50Cineline Ind [5] 100.70 99.10 105.00 105.70 97.20 134.86 131.30 27.50 - 99.35Cipla [2] 909.75 908.30 910.20 912.90 901.80 1114.03 1005.00 738.25 27 907.70CitiUn Bk [1] 135.90 133.70 136.05 136.80 133.25 689.18 189.60 129.00 16 133.75Clari.Chm 479.80 476.80 484.00 484.00 475.00 16.31 642.20 340.75 26 476.40CleanSci&Tec 2443.15 2400.70 2447.00 2455.10 2390.00 163.65 2660.60 1422.10 - - CMI 36.05 35.60 36.45 36.45 35.50 36.78 70.90 35.05 - 35.65Coal India 147.70 145.90 148.00 148.15 145.40 4568.32 203.85 123.45 10 145.90CoastalCorpn 282.30 278.90 283.00 288.15 275.00 6.61 319.00 237.75 - - CochinShip 334.60 334.05 336.40 336.95 332.90 52.32 433.75 318.00 7 334.10CoffeeDayEnt 44.70 43.10 44.40 44.45 42.90 1592.82 54.95 23.25 - 43.10COFORGE 5455.50 5645.60 5468.00 5668.75 5461.35 517.81 6030.00 2300.00 - - Colgate [1] 1465.05 1457.65 1470.00 1476.90 1455.00 643.83 1823.00 1393.00 37 1459.30CompuageInf[2] 28.75 28.25 29.00 29.60 28.15 722.21 36.75 13.95 8 28.25Compucom [2] 20.05 22.05 21.00 22.05 20.90 504.05 20.95 7.76 21 22.10ComputerAge 2595.20 2588.35 2619.85 2619.85 2572.80 85.69 4067.40 1550.00 - - Con.FinHld 150.20 151.15 148.15 152.90 148.00 9.32 78.40 26.55 - - Concor [5] 622.40 602.25 626.70 626.80 600.50 1114.79 754.10 382.75 50 602.45ConfdnPetInd[1] 77.90 78.05 79.65 80.80 77.30 479.58 95.40 30.65 24 77.95ControlPrint 347.60 343.60 353.70 353.70 342.60 5.63 416.85 219.35 16 344.50CoralIndFin [2] 38.85 39.25 38.10 39.50 38.00 15.05 58.50 19.05 10 38.40Cords Cab 53.70 53.25 53.00 54.25 52.65 50.52 83.40 38.00 11 53.10Corom.Intl [1] 738.55 745.15 743.50 748.75 735.00 117.22 955.95 709.55 16 745.05Cosmo Film 1345.00 1327.45 1350.00 1358.25 1318.95 19.95 1678.95 430.20 9 1327.40CounClubH [2] 9.35 9.15 9.35 9.35 8.90 181.31 10.62 3.40 - 9.18Count.Cond [1] 4.05 4.45 4.10 4.45 3.70 1049.97 4.79 1.85 - 4.47CPCL 101.00 100.35 101.85 102.25 99.60 167.89 151.80 89.00 - 100.30CraftsmnAuto 2228.85 2274.40 2264.90 2311.65 2200.00 27.01 2778.00 1245.00 - - CrdtacsGramn 627.05 614.55 627.05 635.90 605.85 68.52 810.00 495.30 94 615.30Crisil [1] 3028.30 2998.75 3048.00 3048.00 2973.95 12.21 3496.00 1742.35 75 2997.30CromGreaC [2] 431.45 431.20 431.45 432.50 423.05 1015.92 512.05 349.10 41 428.20CSBBank 234.20 229.25 237.00 238.60 228.00 139.74 372.95 215.00 14 229.30CubexTub 26.65 26.40 27.55 27.55 25.75 12.27 35.05 15.15 20 26.60CUMI [1] 923.05 914.00 929.70 931.65 910.60 79.07 1008.00 368.25 68 914.45CumminsInd [2] 934.75 918.40 934.75 935.05 915.10 220.76 1065.00 564.40 33 918.55Cupid Ltd 216.20 214.55 217.85 217.85 213.40 16.98 272.00 202.00 11 215.00Cyber Med 10.20 10.10 10.40 10.45 9.80 12.88 20.35 3.14 - 10.50Cybertech 163.85 162.40 164.95 166.15 161.10 87.72 208.45 112.05 29 161.95CYIENT Ltd [5] 991.05 990.60 998.00 1015.00 972.35 213.85 1292.00 478.45 37 989.85

D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .D P WIRES 203.50 203.55 205.15 205.15 201.30 4.48 312.20 75.25 - - Dabur [1] 569.45 563.70 573.90 573.90 562.15 418.66 658.75 483.00 69 564.00Dalm.B.Sug [2] 377.90 370.75 378.00 381.60 367.00 27.25 516.00 133.50 11 372.00DamodarInd [5] 50.90 51.25 50.30 54.00 47.80 61.13 56.95 21.50 8 51.35DangeeDums 198.55 198.35 200.45 200.45 198.00 1.77 228.75 105.95 - - DATA PATTER 585.00 755.00 856.05 864.00 743.8513492.55 864.00 743.85 - - Datamatics [5] 286.05 290.35 287.50 299.80 282.30 241.65 382.40 102.15 28 290.25DB Corp 91.10 90.25 92.15 92.15 90.00 36.43 124.60 76.05 9 90.45DB Stk [2] 25.10 26.35 26.35 26.35 26.35 4.78 30.29 7.01 - 26.50DCB Bk 81.75 80.35 82.60 82.60 79.65 912.96 126.50 78.65 9 80.40DCMSHRIRAM I 89.30 89.40 91.00 91.90 87.05 91.99 91.90 87.05 - - DCMNouvelle 269.60 265.40 269.60 269.60 261.00 41.65 340.75 42.00 5 266.55DCMShriram[2] 972.10 956.60 962.00 984.95 951.00 26.65 1249.95 370.30 19 960.20Deccan Cem [5] 554.65 558.60 556.00 573.90 550.00 18.26 846.25 330.35 7 553.30DeepEneResou 40.00 40.20 39.25 41.65 39.25 31.25 62.70 30.50 - - DeepIndust 147.85 143.15 145.30 149.90 142.45 23.80 174.55 57.30 - - Deepk.Fer 369.20 366.50 372.10 372.80 364.00 124.14 492.60 147.80 28 366.40Deepk.Ntr [2] 2317.10 2310.35 2339.00 2339.80 2281.00 313.32 3020.00 882.20 73 2311.10DelphWrldMon 556.35 555.25 560.00 565.75 549.55 3.87 818.00 410.80 - - Delta Corp [1] 273.50 263.00 273.00 273.50 260.15 4466.04 308.55 138.00 150 262.90Delta Mag 65.75 64.40 66.50 67.00 62.55 8.88 76.15 23.05 - 62.95Den Net 41.50 41.05 41.60 41.80 40.65 1419.76 71.90 37.35 10 41.05DevyaniInter 171.60 167.60 172.45 172.45 166.80 2359.29 198.90 107.55 - - DFMFoods [2] 291.25 289.55 292.75 295.35 285.25 51.06 452.80 265.05 263 289.60Dhamp.Sug 293.05 289.50 294.60 297.20 288.00 129.90 395.00 156.20 9 289.85DhaniService 162.75 156.55 161.40 161.60 156.00 1224.60 395.95 139.20 - - Dhanlk.Bk 14.00 13.95 14.20 14.20 13.80 370.75 20.20 11.51 13 14.00Dhanuka Ag [2] 728.75 734.55 729.85 739.00 725.00 236.86 1053.15 668.95 17 735.70Dhar.Sugar 17.60 17.45 17.15 17.90 17.15 11.79 36.50 5.16 - 17.50DHARAMSI MOR 306.30 308.45 307.20 312.05 303.65 4.18 343.00 294.55 - - DhruvConsult 56.90 57.75 59.70 59.70 56.85 18.02 84.35 47.70 - - Dhun.Inv 636.50 606.00 630.40 630.40 600.00 3.80 765.65 228.35 73 605.15Dhunseri Tea 253.95 246.60 253.10 253.95 242.70 5.01 405.20 155.07 5 249.35DhunseriVent 236.20 226.70 236.20 236.20 225.40 18.50 350.00 60.00 - - DIC India 393.15 388.15 395.95 395.95 388.00 2.51 549.00 367.50 25 388.20DigispiceTec 42.30 44.40 44.40 44.40 40.75 224.67 60.70 30.10 - - DIGJAM 183.20 192.35 192.35 192.35 192.35 1.89 192.35 29.15 - - DilipBuildco 492.10 479.55 494.60 495.55 477.00 180.39 749.30 365.00 29 479.15DishmanCarb[2] 200.60 197.50 201.00 201.30 195.45 320.95 259.50 102.55 - 197.70Divi'sLabs [2] 4478.50 4447.25 4515.00 4515.00 4440.00 295.43 5425.00 3154.50 56 4447.65DixonTec(In)[2] 5369.10 5423.40 5388.00 5469.00 5384.95 343.50 6240.00 2504.61 176 5420.75DLF Ltd [2] 383.70 379.60 386.80 386.80 375.30 4499.63 449.80 217.55 60 379.45D-Link [2] 145.85 156.40 146.80 165.70 142.15 5221.77 168.65 94.80 14 156.55DodlaDairy 556.20 545.35 556.20 556.50 544.00 16.23 674.80 500.00 - - DOLATALGOTE 85.35 84.35 85.65 85.65 83.75 79.46 127.90 50.85 - - DollarInd [2] 427.65 425.65 434.00 439.00 422.05 28.63 505.75 207.00 21 426.05DPAbhushan 329.10 330.20 332.60 332.60 323.45 7.44 345.00 70.05 - - DPSC 19.10 18.30 19.50 19.50 18.15 463.22 31.15 9.45 - - Dr Reddy [5] 4694.80 4638.65 4725.00 4730.00 4611.00 251.83 5613.65 4135.90 48 4639.10Dred.Corp 322.65 318.15 324.50 331.00 316.65 146.20 475.00 256.00 - 317.35DrLalPathLab 3481.70 3514.80 3513.30 3573.60 3441.05 166.83 4243.00 2162.00 75 3515.40Dwarikesh [1] 68.10 67.90 68.65 70.80 67.55 645.30 83.90 26.10 10 67.90Dynac.Sys 146.95 145.30 149.30 151.00 144.00 21.94 182.15 53.90 13 146.05DynemicProd 657.45 647.30 656.20 668.70 640.95 61.05 770.25 226.25 26 645.75

E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Eclerx 2291.45 2359.05 2337.00 2410.00 2336.40 64.15 2619.00 775.10 26 2358.90EdelFinSer [1] 68.45 68.60 69.00 70.50 67.60 792.58 100.80 56.70 6 68.40EicherMotor [1] 2480.25 2437.90 2485.20 2504.75 2432.25 265.89 3035.50 2303.75 42 2437.95EID Parry [1] 443.90 435.30 447.65 448.85 432.95 106.86 574.00 303.00 39 435.55EIH [2] 124.85 120.50 126.00 126.00 119.20 455.46 155.00 81.35 - 121.10EIH A Htl 330.55 324.50 334.10 334.10 322.65 10.81 449.95 207.35 - 324.65Eimco 335.30 331.80 334.95 335.25 328.90 3.13 539.75 308.95 30 332.65Elec. Eng [2] 174.80 170.05 173.75 175.90 169.55 421.91 219.00 35.20 24 170.20Elec.Stl.Cs [1] 32.85 32.80 33.05 33.45 31.90 563.13 44.20 20.35 15 32.80Electrotherm 119.05 117.10 118.50 122.40 116.55 12.55 197.90 96.20 1 117.75Elgi Eqp [1] 297.25 287.60 298.00 299.25 286.20 156.64 347.00 146.80 55 287.50Elgi Rbr 38.60 38.10 38.50 39.35 38.00 22.48 47.60 20.00 - - Emami [1] 528.85 523.85 529.00 533.00 521.00 293.67 621.35 409.75 41 524.00EmamiPapMi [2] 133.30 133.70 135.90 135.90 132.05 16.53 214.90 88.20 11 133.55EmamiRealty [2] 80.55 93.25 80.55 94.80 79.00 2466.61 87.50 38.75 - 93.25Emkay Glo 96.75 96.65 96.00 99.25 95.30 47.98 139.80 59.60 18 96.40Emmbi Ind 101.80 100.10 102.90 102.90 99.05 14.13 125.00 72.00 12 99.95EnduranceTec 1624.50 1604.15 1632.65 1634.00 1591.45 22.56 1980.95 1170.00 45 1603.60Energy Dev 28.80 30.20 30.20 30.20 30.20 171.68 28.75 8.25 - 30.15Eng.India [5] 68.85 68.45 69.30 69.30 68.35 502.88 93.60 67.30 16 68.45Ent.Net.Ind 170.20 164.30 168.35 172.75 162.05 25.22 226.95 139.40 - 164.50EPL 202.75 197.50 203.20 204.80 196.40 175.24 291.95 192.00 - - EqitsSmlFnBk 60.00 60.15 60.60 60.60 60.00 197.05 76.80 34.50 - - EQUIPPSOC IMP 116.10 111.65 121.90 121.90 110.30 163.22 142.30 2.05 - - Equitas Hold 113.80 112.85 115.50 115.50 112.50 641.48 144.85 65.35 26 112.70ErisLifeSci [1] 686.20 687.05 689.60 692.45 681.55 29.89 863.15 546.95 24 687.70Eros Intl 18.45 18.35 18.80 18.80 18.20 193.50 36.95 16.35 - 18.35Esab Ind 3114.50 3197.20 3144.00 3305.00 3076.30 31.97 3244.95 1710.15 63 3210.75Escorts 1855.90 1859.80 1860.05 1864.65 1850.10 389.03 1897.80 1100.10 27 1857.80ESI [2] 8.25 8.65 8.65 8.65 8.65 27.89 8.56 1.33 - 8.98Essar Shp 9.60 9.30 9.65 9.75 9.10 244.18 14.02 7.26 - 9.23Ester [5] 126.20 124.55 127.45 127.45 123.10 53.94 164.60 98.10 8 124.65EuroFrshFood 136.20 134.20 130.05 143.00 130.05 0.34 147.55 118.30 - - Ever.Kanto [2] 204.50 206.65 214.70 214.70 203.30 2778.04 204.15 44.50 14 206.95Everady [5] 297.75 294.35 300.00 300.00 292.50 195.94 413.30 182.60 7 294.50Everest Ind 445.20 477.25 450.00 485.50 450.00 244.49 534.00 267.05 15 479.40Excel Ind [5] 866.95 879.05 871.30 899.95 870.30 7.75 1289.00 776.95 13 879.10Exide [1] 164.45 162.60 165.25 165.25 162.05 2070.64 220.60 152.65 16 162.75ExpleoSolu 1722.25 1705.50 1723.95 1726.00 1656.00 31.23 1827.00 446.95 - - ExxaroTiles 145.25 142.75 145.95 145.95 142.40 89.70 172.70 128.90 - -

F . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .FACT 118.10 116.15 120.00 121.80 115.35 388.34 153.00 49.90 19 116.30FaircheOrgan 1609.65 1597.10 1619.95 1619.95 1581.70 6.11 2274.80 580.30 - - FDC [1] 288.35 290.45 288.00 291.90 284.45 157.37 404.90 260.00 17 290.10Fed Bk [2] 82.15 81.00 82.50 82.50 80.3512195.82 107.65 61.30 10 81.00Fed.Goetze 216.60 214.70 217.00 220.00 212.00 36.84 358.20 207.10 15 214.95Fiem Ind 1219.30 1191.20 1224.80 1261.00 1176.60 142.40 1342.00 498.00 18 1190.95Filatex [2] 95.25 94.15 95.20 95.25 93.50 469.51 127.50 40.45 7 94.10Fin.Cable [2] 534.60 531.10 539.45 539.45 522.80 121.03 608.65 328.45 21 532.50FineOrgInd [5] 3752.30 3752.20 3771.10 3799.85 3715.25 23.08 4040.00 2130.00 81 3741.60FineotexChe [2] 131.70 128.35 132.65 132.65 127.50 420.46 147.40 42.00 37 128.80Fino.Ind [2] 206.00 204.70 205.60 206.75 203.00 138.83 268.00 114.82 14 204.55FinoPaymntBk 391.30 391.30 391.95 397.50 384.00 108.02 582.95 366.15 - - Firstsource 175.05 183.45 175.95 185.00 172.3520318.03 242.65 76.80 30 183.60Flexituff 22.70 21.90 23.20 23.20 21.60 19.54 28.90 13.80 - 21.80FOCUSGH&FIX 80.05 78.15 76.05 78.85 76.05 11.28 90.85 71.25 - - FOODS & INNS 85.70 85.25 87.00 88.25 83.25 25.91 99.00 79.00 - - ForceMotors 1261.85 1253.75 1270.00 1270.00 1243.00 21.66 1740.00 1060.00 - - Fortis Hlt 277.40 273.65 277.90 277.90 269.60 900.46 304.00 151.35 - 273.95Foseco 1452.10 1449.90 1431.05 1458.00 1405.00 3.54 1790.00 1126.85 29 1447.65FSNECommVent 2121.55 2044.85 2120.00 2125.00 2028.00 977.36 2573.70 1910.05 - - Fut. Life [2] 53.80 51.70 53.85 54.25 51.20 318.02 99.30 46.60 - 51.70Fut. Mkt 9.85 9.40 9.70 9.80 9.40 235.18 23.55 7.50 - 9.37FutEntpDVR [2] 13.40 12.90 13.90 13.90 12.65 86.85 16.89 9.75 - 12.95Future Cons 7.60 7.35 7.50 7.60 7.30 5993.11 11.95 5.85 - - FutureEntp [2] 10.05 9.35 10.00 10.25 9.15 2444.28 13.92 7.61 - 9.34FutureRetail [2] 51.85 50.10 52.20 52.20 49.80 2976.02 89.50 40.60 - 50.15FuturSuplyCh 70.55 68.55 71.45 71.45 68.00 72.08 121.95 59.35 - 68.65

G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Gabriel [1] 134.45 134.90 134.50 135.50 133.00 143.55 168.00 95.90 22 134.90Gail(India) 132.85 130.85 134.10 134.15 129.70 8050.24 171.35 116.65 8 130.90GalaxSurfact 3055.85 3060.65 3068.90 3078.00 3025.30 12.42 3600.00 1874.45 71 3060.85Gallant Isp [1] 49.65 49.45 50.60 50.95 49.25 6.15 69.90 32.40 13 49.55Gallant Mtl 70.00 70.75 71.45 72.00 68.65 30.13 88.00 34.95 7 70.85Gandhi Tub [5] 360.95 357.80 360.10 369.00 355.10 0.81 557.85 236.50 9 360.05Ganesh Hsg 190.25 183.85 191.00 193.75 181.10 81.01 243.50 28.65 - 183.80Ganesha Ecos 496.00 502.55 503.00 506.40 496.00 29.21 687.70 332.05 16 499.55GaneshBenzop 103.10 99.00 104.40 104.65 98.05 180.44 114.95 76.10 - - GangaForging 21.65 21.10 21.80 21.85 20.95 950.10 147.25 13.65 - - GangesSecu 91.30 89.90 94.05 94.05 88.30 1.43 105.00 53.00 15 88.35GardenReach 216.65 213.55 216.10 218.60 212.10 134.15 279.80 167.65 12 213.65GarwarTecFib 3252.15 3224.00 3229.00 3250.00 3202.15 4.24 4033.40 2117.60 42 3225.15Gatewaty 288.90 293.45 295.00 298.40 290.15 250.61 325.20 113.80 47 292.80Gati [2] 195.90 189.50 195.80 198.60 188.20 4799.71 198.95 80.05 - 189.40Gayt. Proj [2] 30.75 30.15 30.95 32.10 29.85 996.97 60.65 26.40 - 30.10GE Ship 294.90 295.15 297.00 298.65 288.00 707.10 477.00 229.00 7 295.55GE T&DInd 122.60 124.90 121.20 127.00 121.20 95.84 153.80 104.00 - - Geecee 139.70 139.25 140.60 141.50 137.50 8.41 191.50 80.35 20 140.40GeewayWires 83.05 78.80 84.00 84.00 78.00 21.91 112.90 69.95 - - Genesys [5] 304.40 297.95 307.95 311.50 292.00 45.45 387.95 50.85 85 297.70GenInsCorpIn[5] 134.90 134.45 134.60 137.00 134.05 255.32 243.70 130.90 10 134.50GenricEngCon 34.00 33.85 34.20 35.00 33.60 26.16 68.00 33.40 - - Genus P&B [1] 11.25 11.10 11.40 11.40 11.05 71.19 14.73 6.22 - 11.14Genus Pwr [1] 67.00 66.80 68.70 68.70 65.70 346.98 93.85 32.20 32 66.85GeojitFinSer 72.15 71.50 73.50 73.50 71.25 72.78 102.70 43.55 - - GEPowerIndia 250.35 242.25 251.65 252.60 240.80 74.74 371.80 226.75 - 242.75GFL 72.60 71.00 72.60 73.45 70.30 36.14 118.00 60.50 - - GHCL 368.40 369.45 371.90 373.10 367.10 44.95 483.10 190.10 8 368.95GIC Hsg 145.40 143.40 147.00 147.00 142.85 71.54 202.50 104.60 4 143.50Gillander 58.50 58.00 57.60 60.00 57.60 1.19 69.00 36.10 - 58.25Gillette 5401.25 5381.45 5423.00 5446.30 5370.00 1.51 6270.05 5258.00 59 5372.90Ginni Fil 46.40 45.30 46.75 47.75 44.80 351.13 48.80 17.85 8 45.25GKW 623.45 621.85 627.70 628.00 615.15 0.31 922.40 460.10 - - GlandPharma 3864.60 3893.85 3865.00 3918.30 3800.00 177.57 4350.00 2071.00 - - Glaxo Phr 1744.90 1727.80 1753.00 1757.00 1722.55 17.89 1917.00 1379.00 57 1729.55Glb.Vect 71.45 72.20 71.95 77.00 68.50 244.17 76.90 36.20 - 72.20Glenmark [1] 504.45 495.40 506.45 508.50 492.45 879.26 690.60 442.15 9 495.10GlnmarkLifSc 608.85 604.40 608.00 608.95 602.45 30.04 799.00 590.05 - - Glob.Spr 1261.65 1242.30 1276.00 1278.95 1237.35 74.78 1509.00 290.95 19 1242.65GlobalEductn 48.05 57.65 48.85 57.65 47.00 129.87 75.85 35.50 - -

GlobeText(I) 15.35 15.05 15.90 16.00 14.95 1770.25 68.00 11.75 - - GM Brew 766.50 764.10 766.50 797.65 749.55 328.37 922.85 370.00 14 765.65GMDC [2] 69.95 67.90 70.45 70.45 66.95 596.24 83.30 47.80 8 67.90GMMPfauder[2] 4730.70 4775.45 4750.00 4800.00 4711.00 40.94 5435.00 3540.00 64 4768.15GMR Inf [1] 42.60 42.65 42.90 43.00 42.1522562.10 46.10 22.50 - 42.65GNA Axles 673.05 667.85 679.70 679.70 663.00 12.07 1107.35 244.90 13 668.90GNFC 420.50 411.10 422.10 424.60 409.50 323.54 517.95 202.50 6 411.15GO FASHION IN 1132.55 1132.90 1115.00 1156.35 1074.75 414.99 1339.90 960.55 - - Goa Carb 321.50 322.45 321.50 326.05 315.95 10.77 482.20 235.00 26 322.65GOCL Corp [2] 299.90 308.80 302.85 319.00 294.15 35.17 386.00 190.00 20 307.80God.Pow.Isp [5] 248.45 250.40 252.75 254.70 248.00 170.31 460.00 104.89 3 250.20Godfrey [2] 1149.80 1132.65 1155.90 1166.85 1125.00 8.91 1409.85 831.85 14 1131.85Godrej Cons [1] 964.80 966.25 964.80 976.00 961.10 678.17 1138.50 644.00 77 966.60Godrej Ind [1] 620.85 630.15 623.65 639.20 613.65 316.37 674.35 413.05 - 629.50Godrej Pr [5] 1875.90 1828.70 1880.00 1885.00 1814.15 603.67 2598.00 1200.10 577 1830.05GodrejAgrovt 532.40 534.10 540.75 555.00 530.25 249.59 746.80 469.70 34 534.05Gokaldas [5] 304.45 315.35 312.00 327.50 308.00 675.82 311.00 73.05 39 315.45Gokul Agro [2] 62.50 62.20 64.00 64.00 60.65 43.63 74.40 17.30 17 62.30Gokul Ref [2] 42.05 42.85 42.45 45.80 42.40 1748.35 47.80 15.50 - 42.80Goldiam Int 793.50 783.35 792.50 799.95 772.65 24.09 1142.60 196.40 29 782.85GoodLuck St [2] 318.85 321.55 316.85 323.00 313.10 143.75 338.00 52.05 17 319.45GoodyearInd 975.75 958.10 983.95 984.00 952.00 8.91 1085.00 783.00 - - GP Petrol [5] 43.35 48.05 44.30 51.45 42.75 808.15 77.60 34.65 17 48.15GPTInfraProj 84.95 80.70 86.70 88.00 79.00 308.13 107.75 31.85 10 80.60Granuels [1] 333.85 328.60 334.80 336.90 325.25 1194.63 404.50 285.80 20 328.25Graphite [2] 409.25 407.45 412.25 413.00 405.30 343.71 815.35 280.00 16 407.60Grasim [2] 1659.60 1610.90 1660.20 1668.00 1595.25 1119.89 1893.15 880.10 46 1610.70Graur&WeilIn 57.50 57.15 58.00 58.30 56.75 67.21 70.90 53.50 - - Gravita [2] 252.85 254.85 253.00 264.50 251.45 1227.49 260.95 66.45 42 253.90GreenlaInd [5] 1721.20 1697.70 1725.00 1725.00 1681.80 9.82 1999.00 742.00 40 1694.65GreenPly [1] 200.50 201.50 201.85 203.50 198.55 184.80 254.25 108.45 28 201.80GrenpanelInd 407.15 405.10 409.00 409.90 400.00 259.92 434.70 100.90 - - Grindwel [5] 1779.00 1782.80 1789.90 1793.60 1748.00 73.22 1907.00 652.50 68 1780.45GRInfraproj 1725.70 1662.05 1738.85 1738.85 1650.00 26.20 2267.65 1543.00 - - GRP Ltd 1010.15 1003.85 997.95 1029.00 985.70 0.89 1169.90 724.00 15 1000.00Grvs.Cot [2] 139.40 136.20 140.00 140.45 135.50 696.20 184.25 79.50 68 136.25GSFC [2] 120.70 116.90 122.00 122.00 115.80 632.35 150.75 66.50 8 116.90GSPL 297.10 292.70 298.50 298.60 292.05 514.27 383.00 191.00 16 292.80GTL 18.95 19.85 19.45 19.85 18.15 1047.27 32.55 4.52 11 19.96GTN Text 14.25 13.55 13.55 13.55 13.55 6.80 15.40 4.75 - 13.09GTPLHathway 258.55 256.10 261.10 263.20 255.00 26.25 313.15 108.75 22 253.95Gufic Bio [1] 213.10 222.20 216.80 233.90 211.80 1679.38 236.90 99.10 26 221.90Guj.Alk 635.75 622.45 636.90 638.65 621.15 151.53 845.50 304.35 22 622.45Guj.Ind.Pow 79.75 78.55 80.70 80.70 78.45 104.99 105.65 72.25 7 78.65Guj.Pipav 95.80 93.95 96.35 96.35 93.55 480.12 124.15 86.15 22 94.00Guj.Sid.Cem 42.00 41.45 41.85 42.45 41.30 48.22 62.60 31.70 11 41.55Gujarat Gas [2] 634.10 629.40 630.00 637.00 625.75 437.53 786.65 342.30 30 628.85GujaratFluor 2274.20 2267.55 2300.00 2310.25 2239.65 43.19 2539.70 525.10 - - Gul.Amb.Ex [1] 161.20 160.85 162.50 163.15 159.00 65.89 201.65 111.20 8 160.55Gul.Apl 202.70 203.60 205.85 206.35 201.80 1.96 277.20 195.35 - 204.60Gulf Oil Lub [2] 439.50 439.50 441.70 447.00 435.45 41.67 803.70 427.95 10 439.25Gyscoal [1] 4.40 4.60 4.60 4.60 4.20 4850.37 4.65 1.90 - 4.63

H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Harri.Mal 151.85 147.95 152.95 153.25 147.50 23.20 250.00 110.00 6 148.35Hathway [2] 21.15 21.15 21.30 21.35 20.80 2409.86 35.20 19.65 - 21.15Hatsun Agro [1] 1294.30 1298.55 1285.00 1311.00 1282.35 22.27 1533.65 676.00 106 1297.70HavellsIndia [1] 1372.80 1361.05 1384.80 1384.80 1354.20 559.77 1503.70 877.70 72 1361.30HBL Pwr [1] 60.85 59.65 61.15 61.15 59.20 623.90 68.70 26.40 39 59.70HBStockhold 38.65 37.35 39.25 39.25 36.65 10.98 52.10 15.65 - - HCC [1] 14.60 15.30 14.25 15.30 14.2521553.25 18.76 7.00 - 15.35HCG 232.95 228.55 234.55 234.55 226.10 65.35 282.55 141.55 - 228.40HCL Info [2] 18.20 17.90 18.60 18.65 17.75 1049.79 21.91 7.95 - 17.90HCL Tech [2] 1227.45 1265.20 1262.15 1283.80 1246.1515952.93 1377.00 890.00 38 1265.10HDFC [2] 2571.15 2534.55 2585.00 2585.00 2525.50 1033.48 3021.10 2354.10 36 2533.90HDFC AMC [5] 2378.30 2349.10 2389.35 2390.00 2325.40 280.06 3363.00 2281.00 36 2350.30HDFC Bank [1] 1444.10 1438.90 1445.50 1452.00 1428.00 2780.51 1724.30 1342.00 24 1439.30HDFCLifeIns 640.50 637.35 641.20 643.00 634.15 1183.08 775.65 627.00 111 636.90HEG 1608.65 1583.20 1614.45 1628.95 1577.90 68.66 2626.15 851.00 37 1582.95Heidelbrg 218.10 216.85 220.00 222.05 214.45 126.47 284.55 206.10 15 216.60HemispherePR 128.50 123.95 129.40 129.70 122.20 642.69 167.20 64.50 - - HeranbaIndus 647.25 644.50 649.95 652.00 641.30 32.12 945.00 602.10 - - Herc.Hoi [1] 138.95 135.80 138.35 140.00 134.65 23.13 179.65 108.10 30 135.70Herit.Fds [5] 404.65 401.45 404.05 408.95 399.65 57.50 565.00 268.30 15 401.45HeroMoto [2] 2392.70 2392.45 2413.00 2413.00 2376.60 343.45 3628.55 2310.50 15 2393.70Hester Biosc 2492.00 2502.20 2475.00 2550.00 2460.00 2.57 3180.00 1635.90 43 2504.50Hexa Trade [2] 136.40 136.50 139.15 140.35 134.10 9.34 235.20 32.10 - 136.95HFCL [1] 78.20 77.00 78.90 79.35 76.65 9716.74 95.70 23.00 34 77.00HGInfraEngg 593.95 591.90 595.55 599.25 590.00 57.97 830.80 209.00 12 591.50Hikal [2] 513.25 506.60 517.85 517.85 505.00 67.52 742.00 142.85 34 506.55HIL 4378.65 4341.80 4400.00 4404.20 4315.00 4.08 6750.00 2059.00 17 4352.30HimadriSpec[1] 43.50 42.95 43.75 43.75 42.50 1599.60 62.40 38.90 27 42.95Himat.Seid [5] 216.60 217.45 218.35 220.00 215.20 69.47 311.95 132.00 11 217.10Hind.Compo [5] 295.90 298.20 298.80 304.65 295.00 2.30 387.45 210.00 25 301.20Hind.Cop [5] 119.80 117.65 120.00 120.30 116.80 1903.28 196.90 53.60 62 117.65Hind.Media 68.50 68.80 68.55 69.80 68.00 40.30 107.00 49.95 7 69.15Hind.N.Gls [2] 34.85 33.85 34.90 35.40 32.15 90.56 53.20 24.50 - 33.90Hind.Oil.Ex 180.30 179.00 181.75 183.80 178.00 167.93 222.10 78.40 54 178.70Hind.Rect [2] 243.55 231.55 242.00 244.90 227.30 54.46 248.80 117.45 55 231.05Hind.Znc [2] 315.05 313.65 317.50 317.90 312.30 368.24 407.90 230.80 15 313.65Hindalco [1] 461.30 458.90 464.00 464.40 452.85 3122.12 551.65 221.00 30 458.70HindconChem 59.00 59.00 60.95 60.95 58.35 12.73 81.90 41.75 - - HindujaGlo 3368.55 3322.60 3372.00 3399.85 3301.40 16.56 3529.00 1055.60 22 3322.10HindustnAero 1242.50 1230.25 1241.00 1244.35 1221.00 118.64 1568.45 793.15 12 1230.30HindustnFood 1866.60 1857.45 1889.95 1889.95 1846.60 3.24 2578.00 955.55 - - HisarMetalIn 117.95 117.90 117.65 118.00 114.15 6.92 165.00 75.10 7 117.60HiTech Gr 249.80 250.55 252.00 257.95 248.10 8.49 364.90 139.55 10 249.60Hi-TechPipes 513.15 502.30 522.00 525.25 497.05 50.19 329.50 103.50 30 286.45HLEGlascoat 5696.15 5733.80 5798.90 5798.90 5596.00 7.11 7550.00 1755.00 - - HomeFirstFin 833.25 816.20 834.95 834.95 811.25 27.70 921.30 440.00 - - Honda Siel 1310.35 1301.60 1316.90 1318.10 1301.00 1.82 1467.20 902.00 18 1299.40Honey.Aut 40058.40 40165.40 40449.00 40449.00 39786.00 1.22 49805.00 34799.80 82 40081.95HOV Services 60.70 60.90 63.60 63.60 59.50 33.33 90.00 34.15 35 61.50HPCL 294.80 291.65 294.90 296.00 290.10 1499.09 354.55 208.40 5 291.85HPLElect&Pow 68.10 67.10 69.00 69.50 66.80 92.93 91.90 36.80 59 67.05HSG&UrbanDev 39.75 39.05 40.00 40.00 38.95 979.54 58.25 37.55 5 39.05HSIL [2] 205.60 207.00 207.30 211.00 203.55 81.87 287.35 103.55 12 206.95HT Media [2] 25.15 25.15 25.50 25.75 25.05 226.70 35.15 14.79 - 25.10Hubtown 55.00 52.25 57.00 57.00 52.25 655.88 55.90 12.50 - 52.30HuhtamakiInd 211.70 211.50 212.15 214.50 211.10 19.84 352.15 210.25 - - HUL [1] 2300.65 2296.95 2310.00 2313.00 2283.30 895.50 2859.10 2104.25 65 2298.50

I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Ibull Hsg [2] 224.10 219.75 225.20 225.65 218.10 9347.93 313.50 154.30 11 219.75Ibull Real [2] 159.95 161.25 160.80 163.25 156.40 9385.05 195.90 67.80 - 161.20IceMakRefrig 72.55 73.30 74.25 76.00 71.40 24.73 120.20 57.30 - - ICICI Bank [2] 731.30 727.10 733.90 733.90 719.60 8800.69 859.70 496.30 26 727.45ICICILombGIC 1353.85 1340.35 1360.00 1361.50 1335.10 234.12 1674.00 1295.00 51 1340.95ICICISecu 752.15 758.55 759.00 764.95 749.00 148.20 896.05 376.90 - - ICRA 3396.05 3406.65 3425.00 3458.95 3365.00 14.26 4158.60 2672.50 47 3388.90IDBI 47.85 46.95 48.00 48.40 46.70 8242.27 65.25 26.35 24 46.95Idea Cell 13.80 13.65 13.85 14.10 13.40248366.23 16.79 4.55 - 13.65IDFC 52.65 52.00 53.00 53.05 50.55 5603.32 64.40 36.15 - 52.00IDFCFirstBnk 47.70 46.90 47.90 47.95 46.7017261.05 69.30 32.90 - - IFB Agro 623.45 634.55 636.00 639.80 618.10 6.63 759.00 365.40 9 630.45IFB Ind 1119.40 1124.70 1125.95 1138.65 1105.80 3.38 1458.10 873.60 83 1127.45IFCI 15.90 15.55 16.05 16.05 15.40 5861.67 18.87 8.21 - 15.54IFGLRefract 291.10 293.10 291.50 294.90 287.95 82.18 434.00 192.00 24 293.05IG Pet 678.40 678.75 678.40 684.80 667.10 33.14 1017.90 363.10 7 677.80Igarshi 487.05 482.55 488.90 489.90 478.45 25.10 612.20 262.85 46 482.20IIFLHoldings [2] 284.60 271.45 286.40 286.40 270.40 554.31 375.05 108.55 18 271.25IIFLSecurity 88.95 87.95 89.85 89.90 87.55 109.03 128.50 42.00 - - IIFLWealtMgt 1416.95 1407.20 1414.70 1414.70 1383.05 35.97 1785.40 961.00 - - IL&FS Ven [2] 8.80 8.60 9.00 9.00 8.45 387.20 11.34 3.73 - 8.60IMP Pwr 23.45 22.30 22.30 22.30 22.30 28.26 27.16 10.75 - 22.20IMPAL 773.05 774.20 770.75 782.00 765.00 3.70 919.05 525.05 16 771.30IncrediblInd 23.75 23.95 24.70 24.70 23.55 10.11 44.00 17.70 - - Ind Terr [2] 60.60 60.70 61.00 62.60 60.15 272.18 72.30 26.60 28 60.60Ind.Bk.Mer 22.15 21.90 22.65 22.65 21.60 52.11 37.25 9.31 20 21.80Ind.Card 205.05 213.45 202.00 225.55 201.40 37.61 232.00 117.90 - 213.95Ind.Cem 187.80 184.40 189.00 189.25 181.70 3393.81 232.05 139.40 30 184.30Ind.Gly 790.35 786.95 794.80 820.55 764.00 163.33 1028.20 280.50 18 788.40Ind.Hume [2] 183.40 181.80 184.00 184.70 180.15 17.32 252.70 166.00 13 181.25Ind.Metals 882.90 893.05 900.00 908.20 875.05 56.62 997.00 265.65 7 891.85Ind.Nippon [5] 366.00 356.70 362.95 369.45 353.10 12.54 458.15 326.00 15 356.05Ind.Ovr.Bk 20.20 20.80 20.20 21.85 19.9511675.54 29.00 9.84 - 20.80Ind.Ram.Sy 53.05 52.25 53.10 53.55 51.10 69.65 62.65 31.10 5 52.25Indian Bk 141.50 137.55 142.00 142.50 137.05 2120.05 194.80 81.30 4 137.65Indian Htl [1] 180.25 176.65 180.50 181.40 175.00 4646.07 230.25 90.94 - 176.65IndianEgyExc[1] 255.50 250.75 256.80 258.50 250.0010588.76 318.71 70.53 85 250.80IndianRailTr 841.35 837.20 841.00 842.80 828.50 2502.61 6396.30 639.45 - - IndianRlyFin 22.90 22.55 22.85 22.85 22.45 6593.20 26.70 20.80 - - IndiaPestcid 322.10 320.40 321.10 327.60 317.60 335.27 368.00 289.00 - - IndigoPaints 1954.10 1914.15 1960.00 1967.90 1905.05 25.65 3329.95 1905.05 - - IndmrtIntmsh 6568.50 6448.85 6620.00 6697.00 6435.00 80.42 9950.00 4911.00 - - Indo Count [2] 234.25 238.90 236.30 240.90 234.50 231.46 314.80 113.00 13 238.55Indoco Rem [2] 418.75 422.00 420.00 425.25 413.45 61.34 529.70 273.90 30 422.85IndostrCapFn 237.85 233.30 239.05 239.05 230.80 48.96 416.95 232.00 - 232.90Indotech Tr 222.10 214.25 224.70 228.05 206.20 21.62 290.95 82.25 16 212.95IndoThai 263.35 276.50 276.50 276.50 276.50 10.25 263.15 24.35 18 276.30Indra.Med 74.05 73.65 74.80 74.80 73.40 81.27 102.55 52.05 12 73.70IndraprsGas [2] 499.50 494.25 501.00 502.00 489.20 1173.19 604.00 455.00 26 494.90IndSwifLab 68.20 67.40 69.00 69.00 66.60 70.69 127.35 56.00 16 67.10Ind-Swift [2] 12.95 12.40 13.50 13.50 12.35 105.55 16.76 3.40 - 12.41IndusInd BK 871.10 861.15 878.00 878.80 846.80 3462.25 1241.85 788.60 18 860.70IndusTowers 253.55 249.80 255.00 255.00 248.20 1020.47 332.80 194.10 - - INEOS Styro 1296.50 1295.90 1305.95 1318.65 1280.10 10.80 1886.80 763.30 5 1298.15Infibeam Inc [1] 39.95 39.50 40.10 40.25 39.35 1557.54 58.45 36.80 - 39.50INFO EDGE (I) 5386.15 5399.55 5435.05 5435.05 5366.70 158.20 7462.95 4027.00 191 5396.35InfobeansTec 407.45 404.40 410.00 420.00 401.00 31.41 499.00 120.25 - - Infosys [5] 1857.60 1863.50 1872.95 1875.75 1854.00 3780.35 1861.65 1226.10 40 1863.65Infrasoft 221.20 224.50 227.90 229.00 219.00 71.63 231.00 62.00 140 223.95Ingersoll 1185.45 1170.05 1191.15 1196.85 1149.00 13.15 1349.50 621.10 38 1171.55Inox Leis 372.50 367.55 380.00 380.00 363.90 444.35 466.10 241.90 - 365.50Inox Wind 115.70 117.00 117.80 117.85 115.85 652.17 160.00 55.60 - 117.15Insectic 648.25 657.00 648.70 665.15 640.40 30.22 846.00 405.00 13 654.05IntellecDesi [5] 674.70 670.25 680.70 683.70 666.25 112.63 892.00 301.00 39 669.95IntenseTech [2] 72.90 72.65 72.15 75.50 71.85 50.31 119.75 30.90 14 72.15IntGlobAviat 1969.65 1967.60 1989.00 1990.00 1947.10 679.23 2379.00 1502.90 - 1967.60IntlConveyor 71.60 71.35 73.00 73.00 70.00 77.54 81.00 57.85 - - Inventure [1] 2.60 2.55 2.60 2.65 2.50 8923.13 4.70 1.45 - 2.55IOC 112.15 110.25 113.45 113.50 109.8011602.15 141.75 86.30 4 110.25IOL Chem 468.15 463.75 468.15 471.70 458.10 233.93 782.20 424.25 9 464.00IPCA Lab [2] 2032.15 2023.05 2040.00 2049.15 2014.00 107.42 2767.10 1786.05 27 2022.80I-PruLifeINS 562.65 564.35 565.00 567.00 555.00 771.19 724.50 411.00 129 563.90IRB Infra 209.55 206.60 210.05 210.70 205.50 746.54 346.95 100.70 - 206.35IrconIntl 44.85 44.85 45.15 45.20 44.55 749.47 108.50 40.15 - - IrisBusiServ 128.75 133.60 134.80 137.95 130.05 38.21 165.50 107.25 - - IrisClothing 205.20 205.90 205.90 205.90 203.05 1.69 239.00 62.35 - - IsgecHeavyEn 563.90 654.45 584.50 669.00 574.00 1865.06 878.35 524.15 - - ISMT [5] 64.50 67.70 66.20 67.70 65.55 972.02 64.30 9.17 - 67.50ITC [1] 217.30 218.00 218.00 220.45 216.4516581.59 265.30 199.10 19 218.00ITD Cem [1] 77.70 76.60 78.10 78.15 76.00 184.90 97.50 55.10 11 76.50ITDC 360.15 357.25 362.70 362.70 355.05 19.90 463.90 270.90 - 357.40ITI 115.00 116.10 115.85 118.40 113.80 529.51 143.70 102.20 - 116.35IVP 119.95 117.95 120.15 120.95 117.00 10.10 164.00 71.10 10 118.55IZMO Ltd 77.35 84.50 79.50 85.05 75.00 402.16 148.85 44.05 - 84.70

J . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .J&K Bk [1] 36.50 35.75 36.80 36.80 35.60 1560.69 48.20 21.98 6 35.80Jagran [2] 59.85 59.80 61.00 61.00 59.25 100.59 71.50 39.70 7 59.85Jags.Phr [5] 158.50 155.70 160.30 160.30 154.00 46.80 203.25 69.50 16 155.75Jai Corp [1] 123.20 121.05 123.50 123.80 120.20 1085.81 172.85 79.35 19 120.95JaiBal.Ind 55.10 54.95 56.50 56.90 54.60 12.84 668.00 81.00 - - Jain Irrg [2] 39.55 39.00 40.00 40.05 38.60 1217.80 53.50 16.15 - 38.95Jamna Au [1] 100.90 100.50 101.00 101.50 99.80 404.83 117.80 56.05 32 100.45JashEngg 439.40 435.85 446.00 446.00 435.00 11.61 628.00 170.15 - - Jay Bhr [5] 172.00 174.75 174.00 178.10 168.80 30.63 269.00 98.75 17 174.25Jay.Agro [5] 202.95 204.50 204.70 207.10 201.00 22.71 322.90 107.40 10 204.10Jaypee Inf 2.75 2.70 2.85 2.85 2.6513375.30 4.21 1.38 - 2.73Jayshr Tea [5] 97.30 96.10 97.80 97.80 95.20 13.18 145.00 64.85 12 95.85JB Chem [2] 1701.10 1681.55 1708.80 1719.80 1619.25 215.23 1984.75 957.00 28 1676.70JBM Auro [5] 1082.05 1065.85 1083.00 1092.00 1055.30 42.46 1208.15 251.75 54 1068.55JEFREIGHTLOGI 52.90 50.30 55.50 55.50 50.30 36.04 55.50 46.25 - - JHS Svend 22.80 22.70 23.20 23.55 22.50 85.53 33.30 18.80 - 22.75Jind.Drl [5] 130.00 127.35 130.00 131.30 126.35 14.13 167.55 79.35 15 127.80Jind.Pho 272.05 261.80 281.00 282.75 258.60 67.84 485.20 21.65 - 262.75Jind.Poly 1018.30 1005.40 1034.00 1039.85 1001.50 44.11 1238.15 410.60 5 1004.60Jind.Saw [2] 103.80 101.75 104.35 104.35 101.10 807.34 147.65 68.75 6 101.80Jind.Stl&P [1] 385.55 384.30 386.00 387.55 377.85 3293.42 501.60 253.85 4 384.40Jind.World [1] 210.05 208.15 210.00 214.70 204.10 105.68 238.10 44.00 51 208.15JindStain(H) [2] 321.65 320.80 323.10 323.45 318.00 50.17 358.40 109.85 8 320.90JK Cem 3494.45 3437.75 3529.00 3529.00 3424.15 23.92 3836.65 1893.30 36 3436.25JK Lak.Cem [5] 541.80 550.70 543.00 555.00 537.20 157.75 815.25 310.70 14 549.70JK Paper 203.05 200.15 203.20 204.65 198.25 301.76 284.80 104.25 8 200.05JK Tyre [2] 135.90 133.55 136.20 136.30 133.00 310.40 171.60 72.15 9 133.45Jkumar Inf [5] 165.40 163.90 165.55 166.00 162.20 97.07 231.00 125.70 8 164.00JM Fin [1] 73.00 73.20 73.30 74.25 72.20 611.19 117.55 68.35 23 73.20JMC Proj [2] 90.85 90.30 93.45 93.45 89.35 50.76 130.00 61.85 - 90.00Jocil 194.35 185.90 196.25 196.55 184.50 15.47 319.80 139.00 - - JohnCntHita 2127.75 2066.75 2125.65 2143.75 2042.00 71.13 2936.70 1856.60 102 2070.50JP Associ [2] 9.55 9.45 9.70 9.85 9.30 6959.69 15.90 5.67 - 9.46JP Pwr 5.60 5.60 5.65 5.75 5.4064255.64 6.84 2.39 - 5.59JSL [2] 181.30 183.30 182.70 186.40 180.30 932.36 207.70 60.30 9 183.20JSW Hld 4007.45 3908.80 3991.65 4087.95 3880.00 0.45 6000.05 3400.00 33 3891.40JSWIspatSpe 33.60 33.25 33.95 34.05 32.80 794.27 67.55 22.40 - - JSWSteelLtd [1] 650.25 651.30 652.05 655.45 639.30 3973.91 776.50 356.00 9 651.20JTEKTIndia [1] 88.70 88.45 89.20 89.45 87.55 171.04 132.75 80.00 44 88.40JTL INFRA 231.70 229.05 232.50 235.85 224.70 50.70 243.00 224.70 - - Jub.Ind 544.20 535.10 545.00 553.75 528.25 54.67 624.80 162.00 - 533.25JubilantPhar 579.80 575.75 575.30 587.10 573.00 36.80 1046.95 557.00 - - JublilntFood 3534.45 3434.25 3534.45 3548.60 3425.00 316.16 4577.45 2545.00 108 3435.15JublntIngrev 532.70 528.35 534.00 537.55 526.25 205.78 838.75 295.50 - - JullundurMot 67.80 66.40 68.70 68.70 65.70 9.62 76.80 29.30 - - JustDial 820.10 799.00 823.80 823.80 795.00 587.29 1138.00 550.00 59 798.90Jyo.Lab [1] 139.95 137.95 140.50 140.50 137.75 290.53 187.20 136.05 28 138.00

MUMBAI

BusinessLineSATURDAY • DECEMBER 25 • 2021 IMARKET RADAR




................BMBMECMYK

Company Prev Close Open High Low Qty 52 WH 52 WL PE BSE Cl Company Prev Close Open High Low Qty 52 WH 52 WL PE BSE Cl Company Prev Close Open High Low Qty 52 WH 52 WL PE BSE Cl Company Prev Close Open High Low Qty 52 WH 52 WL PE BSE Cl

Neuland 1579.95 1553.05 1619.90 1619.90 1530.00 12.18 2840.00 1012.00 27 1552.90NewgenSwTech 579.95 573.00 580.00 585.80 571.90 27.43 754.70 264.85 29 572.45NHPC 30.90 30.35 30.90 31.00 30.10 3175.92 37.00 22.15 9 30.30NIIT [2] 412.00 407.50 414.90 418.15 402.35 419.88 443.45 136.50 64 407.40Nilkamal 2380.35 2407.45 2382.00 2428.60 2360.00 3.72 3174.00 1415.30 33 2416.60Nippo Bat [5] 454.60 490.20 458.50 519.00 452.05 141.24 641.23 310.60 13 490.35NipponLIAM 336.15 337.75 337.05 339.85 330.90 737.60 476.45 270.00 NirajCement 31.55 30.05 31.35 32.40 29.60 100.12 55.90 29.10 Nitco 30.05 29.00 30.55 30.55 28.75 218.63 42.75 17.40 29.10NK Industries 30.85 30.90 33.00 33.00 30.00 1.29 46.60 16.05 31.00NLC India 58.90 58.40 59.35 59.40 58.10 753.19 80.00 46.25 7 58.30NMDC Ltd [1] 134.95 132.60 135.90 135.90 131.80 3530.51 213.15 103.60 4 132.60Nocil 223.10 220.75 224.25 224.30 218.65 320.02 321.00 140.05 27 220.55Noida Toll 7.65 7.45 7.80 7.80 7.35 109.77 9.10 5.13 7.46Norben 8.25 8.25 8.25 8.25 8.00 0.99 9.75 4.90 NovartisInd 785.15 779.25 790.00 794.00 775.15 16.28 927.00 732.45 NRAgarwalInd 238.65 238.45 240.40 242.30 236.00 5.65 361.15 193.85 NRB Bear [2] 155.45 151.60 155.90 155.90 150.65 153.38 175.05 93.55 18 151.80NRB Ind [2] 22.05 21.80 22.05 22.90 21.20 17.67 34.80 9.25 21.95NTPC 124.55 121.25 124.80 125.00 120.90 8509.58 152.10 88.20 8 121.25Nucleas Sw 523.10 524.15 535.00 535.00 517.70 55.02 765.35 476.00 24 524.15NURECA 1416.25 1397.90 1420.25 1428.10 1391.50 2.84 2315.00 555.60 NuvocoVistas 503.20 497.15 505.80 505.80 496.00 134.63 577.90 485.00 Nxtdigital 384.85 374.45 384.25 384.25 373.55 16.16 640.00 333.30

O . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Oberoi 866.40 842.45 864.50 876.00 838.00 571.66 1051.90 509.85 60 843.45OdishaCeme[2] 1847.00 1826.20 1940.00 1970.00 1812.00 580.03 2547.20 1000.00 296 1816.25Oil India 180.10 176.85 181.00 182.05 176.15 460.57 267.70 102.00 6 176.90Omax Auto 50.95 50.05 52.75 52.75 49.20 9.46 74.00 36.95 50.10Omaxe 70.10 69.45 71.40 71.90 68.55 41.60 98.60 56.00 70.00OMDC [1] 2319.80 2302.20 2302.55 2333.00 2290.00 3.65 3800.00 2211.00 2307.10OmInfraLtd 33.90 33.05 34.35 34.35 32.60 150.48 39.30 18.95 One97Communi 1348.80 1369.55 1348.70 1381.00 1331.15 1340.60 1955.00 1271.00 Onelife Cap 13.50 14.15 14.15 14.15 13.55 32.10 25.09 5.55 14.23ONGC [5] 140.50 138.50 141.55 141.60 137.20 5657.50 172.80 87.90 6 138.40OnMobile 99.40 96.35 99.50 101.00 95.80 364.64 154.35 50.70 64 96.50Onward Te 284.35 282.80 289.90 290.00 280.35 17.45 297.85 81.45 68 282.95OptimusInfra 305.10 300.95 306.00 307.75 296.00 67.48 411.60 82.50 23 302.10OracleFinSer [5] 3993.70 3905.65 4013.55 4020.00 3888.00 93.35 5144.60 2933.05 20 3903.25Orbit Exp 69.05 70.50 68.55 74.90 68.05 49.86 99.40 55.20 22 71.05Oricon Enter [2] 39.30 39.30 39.60 40.80 39.15 392.22 41.60 17.15 39.25Orient Bell 336.95 339.10 340.95 345.20 336.00 8.74 432.10 146.25 27 342.30Orient Cem [1] 156.35 155.40 156.40 158.35 154.45 189.44 185.50 79.10 11 155.45Orient Htls [1] 38.10 37.65 38.45 38.45 36.75 92.35 43.95 21.10 37.75Orient Pap [1] 31.10 30.50 31.30 31.30 30.45 408.71 39.40 19.75 30.60Orient Pres 71.60 72.80 71.65 74.35 71.60 5.09 123.80 62.20 72.45Orient Tri 10.55 10.45 10.95 11.00 10.30 128.33 13.25 5.00 10.44OrientAbr [1] 27.70 27.90 28.30 28.40 27.45 113.97 38.60 20.00 27.70OrientalArmt 682.70 701.15 690.00 713.00 681.15 7.49 1100.00 471.00 OrientalCar 941.50 933.40 950.50 950.50 923.00 2.39 1321.00 800.90 12 933.65OrientElect 370.40 369.90 373.40 375.95 368.00 62.22 408.00 206.65 OrtinLabs 32.30 32.75 32.60 33.70 31.00 171.04 52.25 21.40 Oswal Chem 21.95 24.80 22.30 25.20 21.65 2464.63 35.50 15.25 15 24.85OswalAgroMil 33.35 35.00 34.40 35.00 34.20 209.84 38.75 8.35 34.90

P . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .P&GHealth 5191.20 5103.25 5167.50 5200.00 5090.00 4.37 7500.00 4903.00 P&S Bk 16.00 15.90 16.15 16.15 15.60 548.73 23.79 12.60 15.95Page Ind 39790.65 39294.85 39722.00 40033.35 39201.20 6.14 41750.00 26871.40 99 39231.00PaisaloDigit 683.10 659.00 688.00 688.00 646.00 92.36 1143.15 473.60 45 655.85PalashSecu 83.45 88.70 85.95 89.60 83.00 8.42 97.65 37.25 48 89.00Pan.Petro [2] 249.20 245.85 251.30 251.30 239.35 156.51 309.65 88.80 7 245.05Panac.Bio [1] 194.95 191.20 197.70 197.70 190.00 37.55 453.70 163.80 191.25PanachDigLif 65.30 66.40 66.05 67.00 66.00 4.02 94.80 37.15 ParagMilk 108.60 107.60 109.15 109.20 106.80 199.93 159.85 94.00 26 107.40ParasDef&Spc 698.15 686.00 697.40 704.45 683.00 166.39 1258.20 617.15 ParDrugs&Che 192.50 197.60 188.10 201.70 187.95 13.40 310.60 142.90 Parsvnath [5] 22.10 21.75 21.90 22.45 21.25 561.62 26.75 4.33 21.80PasuptiAcryl 39.85 42.90 40.90 45.55 39.85 2762.34 45.55 28.05 Patel Eng [1] 28.80 29.20 28.60 31.00 28.45 4894.47 33.40 11.01 27 29.25Patel Int 14.95 14.60 15.15 15.15 14.35 59.42 19.66 9.75 14.58Patspin Ind 10.70 11.20 11.20 11.20 11.00 26.10 14.59 4.15 11.13PBA Infra 13.40 13.30 14.00 14.00 12.95 16.90 22.73 7.50 1 13.47PBFintech 979.60 983.05 985.00 990.00 975.00 433.14 1470.00 885.00 PC Jewl 25.10 24.60 25.25 25.30 24.45 703.40 32.75 19.95 22 24.60PDS Multinat 1664.90 1629.05 1664.00 1670.40 1601.25 2.98 1901.00 402.00 88 1623.35Pearl Glo 326.85 319.45 328.00 334.90 315.10 12.21 474.35 157.90 139 319.15Pearl Poly 17.25 17.25 17.60 17.75 16.75 97.43 25.30 13.87 1 17.24Pennar Ind [5] 31.70 31.05 32.00 32.00 30.60 472.96 42.90 16.25 13 31.05Persistnt 4629.70 4618.05 4691.00 4788.80 4602.50 365.10 4753.00 1392.05 60 4621.95Petronet 218.65 216.05 219.90 220.00 215.70 497.77 275.25 209.60 11 216.05PFC 120.40 118.05 121.00 121.40 117.80 1700.03 153.75 104.10 3 118.05Pfi�zer 5141.70 5053.40 5160.00 5170.00 5015.20 78.95 6164.80 4200.00 40 5061.25PG Elec 694.05 701.10 694.05 710.05 688.25 58.64 743.35 131.10 65 702.95PGHH 14707.60 14686.80 14707.60 14737.10 14360.00 5.78 15555.00 10827.40 77 14672.10Phil.Carbon [2] 224.25 229.90 225.20 234.90 223.30 1360.10 278.65 152.00 9 229.80Phoenx.Mil [2] 1013.70 999.55 1000.05 1019.05 983.25 177.02 1199.95 672.00 51 1002.05PI Ind [1] 2940.05 2902.90 2960.00 2960.00 2890.00 167.59 3533.30 1982.45 56 2902.40PidiliteInd [1] 2421.40 2410.20 2423.10 2448.95 2405.00 174.81 2531.90 1662.95 93 2410.15PIL Italica [1] 7.35 7.40 7.45 7.55 7.25 692.24 19.30 5.41 7.39Pilani Inv 1866.20 1832.15 1870.00 1870.00 1825.00 2.45 2248.80 1523.90 14 1837.55Pion.Dist 181.95 179.35 180.95 184.10 178.00 4.24 209.30 92.00 179.85Pion.Emb 63.00 61.25 62.60 63.20 60.80 84.77 79.40 31.35 6 61.35PiramalEntp [2] 2599.25 2576.80 2610.00 2625.00 2563.70 354.74 3013.00 1303.60 240 2576.50PittiEngg [5] 218.30 215.60 218.60 224.80 208.00 185.96 265.40 49.25 14 215.45Plastiblen [5] 220.20 220.70 221.15 224.00 219.60 7.45 305.95 207.25 16 220.45PNB Gilts 67.45 67.60 67.95 68.90 66.75 215.68 94.65 40.05 5 67.65PNB Housing 509.25 496.45 515.90 515.90 492.35 122.53 924.00 325.25 10 496.65PNC Infratec [2] 269.25 265.05 273.80 273.80 263.20 153.49 395.55 165.00 15 265.05PodarHseDVPT 182.80 184.25 181.55 186.75 181.10 0.95 267.00 139.00 182.25PoddarPigmen 283.60 280.15 283.15 286.80 278.00 2.18 434.00 162.50 11 280.00Pokarna Ltd [2] 698.80 722.20 707.30 735.50 684.00 136.03 749.00 162.95 491 719.85Poly.Medi [5] 921.80 904.15 921.85 921.85 900.00 24.19 1163.00 485.00 60 908.00PolycabIndia 2390.30 2339.15 2394.20 2394.20 2330.05 163.11 2648.00 853.80 Polyplex 1834.20 1820.90 1837.05 1843.00 1815.65 63.41 2108.00 655.15 10 1820.30PonawalaFinC 202.15 196.80 203.40 203.85 195.50 1850.59 226.80 35.75 Ponnie Sug 206.00 205.55 208.60 208.60 203.30 2.99 382.50 131.15 7 204.50Power Mech 959.20 941.95 957.75 957.75 941.00 3.18 1094.70 410.80 14 942.90PowerGrid 208.35 205.40 208.20 208.70 204.85 6731.98 216.35 136.88 10 203.25Praj Ind [2] 306.45 305.75 310.25 311.00 303.20 194.83 407.00 102.00 45 306.00Prajay 19.35 20.35 20.40 21.20 19.55 621.18 31.50 7.41 20.25PrakashPipes 131.75 130.45 132.15 134.00 129.50 43.63 194.70 82.00 Praksh.Ind 54.30 53.65 54.80 54.80 53.15 339.97 104.65 47.20 6 53.65Praksh.Stl [1] 5.15 5.40 5.40 5.40 5.25 1205.83 7.10 0.72 5.47PratapSnack [5] 820.90 822.30 829.00 831.85 820.00 17.96 908.55 484.65 62 822.55PrecisionCam 130.00 128.30 129.50 131.50 126.10 194.67 164.90 38.05 20 128.60Precot 278.75 273.80 282.30 282.30 271.00 10.48 374.90 80.30 Precsn.Pipe 218.35 216.15 223.00 223.00 213.35 12.65 339.35 173.65 20 216.70Precsn.Wre [1] 80.80 75.10 80.15 80.15 74.00 479.81 84.85 26.62 15 75.15PremierExplo 239.00 238.80 245.95 245.95 238.00 2.42 287.55 117.00 194 238.55PremPolyfi�l [5] 75.25 82.70 76.10 82.75 75.00 48.78 59.50 26.25 40.45Pressman [2] 29.40 30.75 29.40 31.90 29.00 147.54 39.30 20.55 14 30.70Prestige Est 471.65 467.40 471.65 473.95 458.95 452.77 522.00 256.00 70 467.25PRICOL [1] 114.95 112.85 115.10 115.85 111.80 452.24 131.35 45.85 36 112.75Prime Foc [1] 67.55 66.70 68.75 68.95 65.50 10.79 96.40 45.00 26 66.55Prime.Sec [5] 98.45 99.50 98.05 100.50 97.05 23.06 133.25 37.20 28 100.10PrincPipeFit 700.80 695.70 708.45 708.45 692.00 67.80 897.00 244.55 PrismJohnson 128.95 128.15 129.70 130.10 127.00 133.31 149.35 83.00 22 128.20Prit.Nandi 47.85 48.85 48.55 49.90 47.15 23.90 61.40 14.35 49.20PritikAutoIn 18.20 18.95 18.00 20.15 18.00 601.83 22.80 13.75 PriviSpecial 1794.80 1754.45 1798.80 1850.00 1750.00 15.20 2074.00 501.05 ProzoneIntu [2] 36.80 35.60 36.80 37.65 35.35 1193.14 56.45 15.30 35.65PSPProjects 465.10 464.55 473.80 473.80 461.35 82.08 552.20 394.00 13 464.85PTC 107.70 106.15 108.70 112.90 105.60 704.33 144.45 57.30 8 105.95PTC Ind Fin 18.45 18.30 18.40 18.50 18.10 424.71 23.90 15.75 18 18.35PTL Ent [1] 33.00 39.60 36.75 39.60 36.15 2645.92 33.05 17.53 14 39.65PudumjeePap[1] 34.80 34.50 35.10 35.10 34.25 63.68 50.90 20.20 5 34.55Pun.Natl.Bk [2] 38.00 36.85 38.00 38.15 36.2557414.84 47.60 31.40 13 36.85Punj.Chem 1345.10 1342.45 1368.95 1368.95 1331.20 4.67 1930.00 741.00 24 1340.50Puravankra [5] 132.40 130.95 133.70 133.70 129.45 61.30 166.35 63.00 17 130.65PVR 1357.60 1318.90 1370.00 1370.00 1312.50 932.54 1838.00 961.00 1318.30

Q . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Quess Corp 805.30 800.40 809.00 811.20 794.30 40.37 990.00 451.00 800.50QuickHealTec 225.00 228.30 226.95 229.60 224.00 141.07 319.90 150.10 14 227.80

R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .R Sys Intl [1] 304.05 307.65 305.75 314.50 304.10 111.91 352.20 109.00 34 307.75Radico [2] 1179.65 1198.95 1181.15 1234.00 1138.60 2141.09 1215.00 443.70 57 1201.70RailTelCorp 116.40 115.55 117.30 117.30 115.10 273.72 189.70 101.00 RailVikasNgm 34.15 33.85 34.35 34.40 33.35 2380.21 44.80 20.60 Rain Ind [2] 201.80 201.55 202.90 202.95 200.60 853.17 272.90 115.10 201.50Raj TV [5] 36.90 36.35 37.75 37.75 35.60 7.15 68.30 29.15 36.20Raj.Exp [1] 748.50 745.45 750.40 750.40 741.50 383.63 799.80 471.50 35 745.60RajdharshInd 59.65 56.70 56.70 56.70 56.70 4.41 76.95 10.40 RajnandniMet 162.15 161.35 162.10 162.10 159.30 11.41 166.90 37.25 RAJSHREE POLY 265.90 271.60 272.80 276.55 256.85 26.22 281.00 182.65 Rallis [1] 262.85 257.30 264.20 264.20 252.10 116.90 362.00 243.85 27 257.05Rama News 19.00 18.25 19.35 19.35 17.85 188.08 27.60 13.85 18.20Rama Steel [5] 257.70 237.95 259.80 263.00 233.30 177.13 294.80 41.30 42 236.55Ramco Cem [1] 998.00 991.10 1000.00 1000.00 979.80 162.08 1130.95 765.85 21 990.70Ramco Ind [1] 241.00 244.40 241.00 246.30 235.60 51.05 366.00 205.00 16 242.60Ramco Sys 464.05 463.40 466.00 480.00 461.00 150.20 784.15 366.70 380 463.75Ramk.Forg 950.15 947.65 965.00 968.10 943.65 89.63 1259.60 451.40 24 947.50Ramky Inf 201.15 202.70 202.70 204.80 199.10 78.68 241.60 41.80 10 202.45Rana Sug 23.80 23.70 24.45 24.45 23.60 220.94 38.30 5.99 2 23.75Rane (M) 333.80 332.15 331.00 336.80 326.00 4.75 496.00 238.80 15 331.90Rane Brk 749.55 737.70 747.95 754.40 730.00 1.98 1200.90 704.40 17 737.80Rane Eng 263.65 262.65 264.00 269.90 260.35 4.43 386.00 245.00 261.45Rane Hld 589.90 581.65 586.35 586.40 575.00 10.16 782.45 544.85 47 582.40RatanindiaEn 50.70 48.20 50.65 50.85 48.20 2984.36 64.25 4.55 RATEGAIN TR 382.70 371.70 380.25 381.85 361.30 1230.11 411.00 313.15 Ratnamani [2] 1902.15 1883.80 1900.00 1911.70 1855.60 9.27 2300.00 1455.00 30 1886.15RattanIndPow 5.65 5.90 5.90 5.90 5.6537733.84 9.99 2.13 6.00RavindrHeigt 25.25 24.60 24.50 25.30 24.30 15.91 35.95 15.05 Raymond 635.65 623.00 639.90 640.00 620.15 291.41 708.00 310.00 81 622.85RBL Bank 177.95 172.90 178.85 179.30 172.25 4530.05 274.00 155.65 172.50RCF 74.20 72.65 74.45 74.65 72.15 1583.20 100.15 50.00 8 72.65Rcom [5] 3.75 3.65 3.75 3.80 3.5528542.74 5.49 1.53 3.65RECL 132.55 131.40 133.40 133.40 131.10 3007.54 168.70 122.20 3 131.45Redington [2] 145.90 144.55 146.50 146.70 142.55 1205.08 179.00 65.20 14 144.50Refex Ref 122.70 121.30 123.80 124.45 120.25 34.28 173.10 78.00 8 121.05

Rel.Ind.Inf 867.30 850.20 871.70 872.55 837.00 799.80 1023.40 344.00 159 850.35Relaxo [1] 1248.90 1243.60 1255.50 1255.50 1234.00 94.70 1447.00 773.70 106 1243.95RelHomeFin 4.45 4.30 4.60 4.60 4.25 1473.01 4.95 2.10 Reliance 2365.25 2372.80 2370.00 2392.00 2337.55 3639.62 2750.00 1830.00 47 2372.25Religare 138.90 134.25 138.90 139.50 133.00 1106.03 194.50 60.70 133.80Remsons 216.50 219.40 215.00 222.05 214.45 9.68 313.80 96.00 29 220.05RenaisncGlob 941.75 924.10 950.00 950.00 918.00 27.63 1008.95 261.20 Repco Home 263.35 258.45 265.00 265.35 254.85 91.11 429.25 229.90 6 258.25Repro 535.25 534.50 540.75 551.00 530.50 1.28 660.00 325.05 541.15Resp.Ind [1] 110.45 109.50 111.85 112.40 108.50 71.01 200.60 98.05 109.50Revathi 686.05 662.10 675.30 688.00 655.05 1.15 842.25 430.00 19 673.65RHIMagnesInd 364.10 357.10 366.00 367.20 356.00 49.61 407.00 196.75 Rico Auto [1] 42.25 43.00 42.50 44.30 42.00 520.02 62.30 32.50 23 42.90RITES 262.70 259.30 263.65 263.65 258.25 89.09 318.00 232.40 13 259.50RKECProjects 62.25 61.70 62.10 63.50 61.15 18.58 117.00 43.50 RolexRings 1140.70 1141.10 1141.00 1165.00 1125.95 34.94 1263.00 994.80 Rollatainers [1] 4.45 4.25 4.60 4.60 4.25 4988.94 5.11 2.01 4.36RosariBiotec 1266.75 1245.65 1277.40 1277.40 1240.00 31.55 1619.00 818.05 Rossell [2] 134.40 130.55 134.90 136.60 129.40 38.69 216.05 98.25 32 131.55RouteMobile 1708.20 1697.20 1717.00 1717.85 1685.00 49.79 2389.00 1010.00 RPG Life [8] 604.70 597.15 615.00 615.00 595.05 15.59 751.80 359.35 20 596.40RPP Infra 54.60 53.65 54.95 55.40 53.40 57.18 78.75 37.71 6 53.70RPSGVentures 703.40 738.90 709.60 746.00 700.05 115.84 1144.90 241.90 RS Soft [5] 38.25 39.85 38.50 41.80 38.50 615.33 45.40 22.00 39.85RSWM 454.60 445.20 457.70 465.60 440.30 64.04 513.50 128.05 6 445.75Ruby Mills [5] 263.75 262.00 269.50 269.90 260.10 6.04 349.30 156.55 14 263.00Ruch.Paper 76.95 75.75 77.50 77.50 75.40 5.71 105.60 57.00 9 75.90RuchiSoyaInd 847.15 859.10 849.40 874.00 830.00 21.77 1376.70 629.15 RudrabhshEnt 212.80 212.50 214.00 222.80 201.15 180.75 280.00 102.35 Rupa [1] 404.40 400.05 407.50 407.60 398.45 64.54 547.00 228.40 16 400.60Rush.Decor 404.10 424.30 424.30 424.30 406.50 109.00 403.60 136.00 89 423.75

S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .S H Kelkar 150.40 148.90 150.90 150.95 147.10 126.55 207.30 103.65 29 148.80S&S Power 29.90 31.35 31.35 31.35 28.65 6.13 36.85 18.35 Sadbhav [1] 39.30 38.70 39.45 40.10 38.50 269.45 96.30 37.30 9 38.80SadbhavInf 14.05 13.80 14.10 14.20 13.65 279.40 41.50 12.60 13.80SafariIndia 847.50 873.25 866.00 912.80 842.55 16.82 987.00 452.30 Sagar Cem [2] 255.25 256.15 257.00 258.00 253.30 29.30 319.00 120.31 20 255.55SAIL 111.40 108.80 111.90 111.95 107.8027899.06 151.10 54.95 4 108.80SakarHealth 141.30 139.55 142.50 142.50 138.50 21.32 212.00 84.60 Saksoft 924.20 928.70 925.00 949.00 924.10 29.91 1160.00 305.30 52 928.65Sakth.Sug 14.65 14.25 14.65 14.80 13.65 117.45 22.90 8.58 14.21Sakuma [1] 12.80 12.40 12.50 13.10 12.20 626.83 15.50 4.25 12.61SAL Stl 9.20 9.05 9.30 9.60 9.00 218.97 17.55 2.99 3 9.11SalasarTech 234.15 231.75 231.80 234.95 230.25 34.14 370.75 111.75 17 232.45SalonaCot 199.95 204.55 204.40 207.00 196.25 2.40 249.75 66.05 6 197.10Salzer Elec 185.65 184.30 186.90 188.05 183.50 38.75 234.15 109.50 12 184.85Sanco Ind 9.20 9.40 9.50 9.50 9.15 24.64 21.50 6.90 Sandesh 752.25 743.60 739.65 754.80 729.00 2.19 1079.00 560.00 6 750.00SandharTech 256.15 249.90 259.00 259.00 248.85 30.54 333.00 175.00 16 250.35Sangam 286.60 285.50 296.00 298.90 284.10 80.21 335.00 68.55 15 286.75Sangh.Mov [2] 223.60 213.60 225.90 226.50 212.00 104.02 238.00 93.00 213.85Sanghi Ind 55.85 55.10 56.25 56.25 54.60 284.61 84.70 30.50 15 55.10Sanofi� 7781.55 7750.35 7797.00 7797.00 7602.30 10.00 9300.00 7344.00 30 7748.05SanseraEngg 755.65 750.30 755.65 761.45 747.00 40.60 889.00 682.00 SapireFoodIn 1194.35 1193.40 1199.85 1212.00 1183.00 82.76 1380.05 974.45 Sarda Ene 760.65 749.95 767.75 779.25 741.00 51.81 948.00 298.35 5 750.10Sarla Perf [1] 60.70 61.35 61.80 62.90 60.65 311.61 64.20 21.55 10 61.55SARTHAK M 120.20 120.55 124.00 127.00 119.05 33.50 144.00 89.90 Sasken 1286.75 1276.30 1288.80 1306.00 1250.00 25.00 1528.95 719.20 16 1274.65SastaSunVent 434.90 442.70 456.60 456.60 434.90 116.51 575.00 97.00 444.75SatiaIndus 89.95 86.20 90.50 92.00 85.60 217.23 118.00 73.00 Satin Credit 90.75 88.10 91.70 91.90 87.10 168.13 115.00 66.70 88.50Savita 1100.25 1092.30 1111.15 1118.80 1085.95 5.17 1822.65 655.10 5 1097.10SBC EXPORTS 115.90 116.90 117.65 118.00 116.00 22.77 120.45 65.05 SBI [1] 461.80 456.95 462.60 463.60 452.2013221.16 542.20 255.50 13 456.85SBICards&Pay 907.35 907.25 910.00 915.00 899.00 1362.13 1165.00 799.00 SBILifeInsur 1125.45 1148.20 1130.80 1153.65 1126.00 1930.72 1273.40 838.20 93 1148.20Schaefl�erInd 8497.50 8542.95 8515.00 8598.00 8466.25 17.06 8587.85 4194.15 46 8548.95SChand&Co [5] 110.55 108.25 112.30 112.30 107.50 51.05 149.40 61.20 37 108.25Schneider [2] 103.65 102.15 104.20 104.40 100.70 315.69 147.00 80.50 101.75SCI 138.70 136.10 139.60 139.70 135.55 878.64 160.20 82.00 12 136.05SecureludTec 141.15 139.55 143.00 143.30 138.50 42.58 243.75 80.00 SecuriIntSvc [5] 446.10 445.45 451.80 451.80 430.60 39.86 548.60 350.45 62 446.25Selan Exp 128.75 127.20 130.00 131.95 127.10 12.90 180.05 113.10 27 127.15SelManufactr 31.70 33.25 33.25 33.25 33.25 0.04 33.25 8.10 Sequent Sc [2] 158.40 157.35 159.85 159.85 155.60 775.02 336.40 144.95 157.10SercotechPwr 59.30 59.55 58.20 60.50 56.35 296.48 64.35 17.95 Sesh.Paper [2] 149.30 148.30 150.00 151.00 148.00 9.01 230.00 137.00 8 147.90SetcoAuto [2] 17.25 16.90 17.25 17.30 16.75 154.74 25.20 11.09 16.85SeyaIndus 58.75 58.95 59.75 61.50 58.00 54.57 85.00 47.50 Shakt.Pump 597.40 588.75 605.00 605.00 585.00 37.71 910.00 270.00 15 589.20Shal.Paints [2] 107.15 109.30 107.15 111.75 106.40 237.49 126.00 77.00 109.35SHALBY 134.80 133.95 135.50 135.55 133.00 69.11 214.00 96.05 21 134.45ShankarBldg 520.30 516.10 523.00 523.05 509.05 29.55 683.00 326.75 35 514.95Shanthi Grs [1] 147.95 145.00 148.50 148.50 143.30 22.76 211.20 116.95 33 145.10ShardMotor [2] 822.55 804.20 821.00 828.85 799.25 11.88 901.00 323.65 17 803.60ShardaCropch 317.95 339.50 319.50 354.00 300.60 1943.17 387.05 260.10 12 338.45ShareIndSec 1007.40 1031.60 1024.95 1114.00 999.00 518.47 1114.00 160.00 SheelaFoam [5] 3209.00 3093.45 3209.00 3243.75 3055.20 21.06 3488.70 1625.00 68 3098.25Shilpa Med [1] 557.85 543.70 564.25 564.25 540.00 132.24 670.95 317.05 45 543.95Shiv.Global 21.55 20.50 22.60 22.60 20.50 533.98 21.95 7.46 15 20.90SHIVALIK RAS 962.85 962.90 978.00 988.95 926.00 16.98 1008.00 852.10 ShivalikBimt 371.00 365.55 371.25 384.00 358.05 38.59 447.00 115.10 ShivaMills 110.40 109.65 109.40 111.60 107.35 6.86 129.30 28.60 5 111.00ShivaTaxyarn 208.35 205.70 208.80 208.80 199.85 9.50 289.00 99.00 12 208.30Shop.Stop [5] 348.95 343.15 353.00 353.00 340.10 44.35 408.70 180.00 345.00Shr.CU.Fin 1740.95 1691.90 1761.00 1761.00 1674.15 53.01 2600.00 975.05 11 1690.95Shr.EPC 7.95 7.55 8.10 8.10 7.40 1452.47 9.48 3.80 7.55Shr.Ram.Mul [5] 14.75 14.70 14.90 14.90 14.20 87.19 18.01 7.05 14.74Shr.Ren.Sug [1] 28.70 28.25 28.80 29.40 28.10 2918.33 47.75 8.73 28.25Shr.Tr.Fin 1210.30 1177.55 1220.00 1220.00 1165.80 1115.59 1696.15 928.95 13 1176.90ShradInfProj 51.35 52.45 52.50 53.80 51.00 3.39 76.75 35.55 Shre PushChe 209.95 205.25 212.80 212.80 201.90 33.56 274.95 115.00 18 204.65ShreDigvjCem 73.00 71.20 73.50 73.50 71.00 114.29 97.80 48.95 ShreeCement 26332.75 26310.95 26450.00 26510.00 25929.85 16.06 32050.00 22600.00 36 26275.70SHRENIK 2.10 2.05 2.15 2.15 2.0010889.57 5.05 1.40 ShreRamProtn 42.80 41.10 40.75 42.70 40.70 8.18 52.60 27.10 Shreyans 101.00 98.20 103.90 103.90 98.00 9.80 152.00 71.00 10 98.30Shreyas 227.70 225.10 232.00 232.00 223.65 21.08 448.00 59.40 5 225.20SHRIRAM PRO 90.40 83.45 90.15 90.85 82.85 6113.37 106.40 82.85 ShyamCent [1] 14.30 14.10 14.60 14.65 14.00 454.46 20.45 4.82 8 14.14ShyamMetalic 332.10 321.20 334.30 334.50 319.15 211.10 461.15 300.00 Siemens [2] 2424.10 2374.35 2428.00 2436.00 2355.00 318.00 2577.45 1499.05 77 2374.75SIGACHI INDUS 401.85 397.45 402.95 406.05 395.00 260.62 494.00 376.40 SignetIndus 44.25 43.20 45.20 45.40 42.05 21.54 64.35 22.55 SikkoIndust 69.35 68.90 67.60 70.80 67.60 9.12 79.65 38.60 SIL Inv 296.35 291.50 296.10 298.40 290.50 11.04 378.00 166.60 11 290.65SilgoRetail 31.15 31.05 31.90 31.90 30.80 41.95 66.70 28.50 SimbholiSug 18.45 18.05 18.65 18.65 18.00 32.56 44.60 6.36 18.40Simp.Inf [2] 42.95 42.65 43.95 43.95 41.90 102.63 56.05 27.80 42.65SintercomInd 86.00 86.70 87.00 87.45 84.10 27.50 104.80 61.20 SintexPlaTec 12.85 13.45 12.85 13.45 12.7512624.71 15.30 2.95 SircPaintInd 511.55 506.35 528.50 528.50 498.00 23.64 625.00 225.00 Siyaram [2] 419.75 415.75 422.15 423.25 413.80 42.11 516.95 179.20 13 415.35SJSEnterpris 361.45 351.95 361.45 367.00 348.20 163.72 551.00 348.20 SJVN 28.40 28.50 28.90 28.90 28.40 2101.82 33.80 24.50 6 28.50SKF India 3704.00 3637.70 3750.00 3750.00 3613.25 34.92 4245.25 1631.40 42 3640.40Skipper [1] 71.75 72.00 72.80 72.80 71.00 60.20 98.35 51.50 47 72.05SKM Egg 69.55 71.05 69.20 74.00 68.60 279.89 98.45 43.65 16 71.00Smartlink [2] 119.25 143.10 120.00 143.10 120.00 903.27 133.80 78.10 78 142.65SMCGloblSecu 73.20 73.05 74.30 74.30 72.50 48.76 104.75 65.80 SML Isuzu 645.40 637.60 645.00 656.15 631.45 15.76 842.80 430.05 637.60SMS Phr [1] 126.60 126.50 127.85 128.00 123.60 76.99 199.15 104.20 12 127.20SMSLifeScien 787.05 776.55 776.00 802.95 770.50 2.17 1024.90 469.75 SnowmanLogi 41.90 40.25 41.90 41.95 40.05 1932.01 71.25 36.20 40.25Sobha 858.85 869.60 857.75 874.30 855.65 413.92 976.70 320.00 81 869.65Solar Ind [2] 2411.70 2363.90 2410.00 2410.00 2330.75 37.84 2932.95 1030.00 101 2367.10SolarActPhSc 999.95 993.40 1009.00 1009.00 991.00 29.98 1859.95 980.00 Som Dist [5] 40.40 40.40 41.00 41.00 39.30 99.53 59.50 26.25 40.45Somany [2] 836.20 833.80 847.50 849.70 831.10 7.05 952.45 309.35 34 832.35SomanyHomInn 402.35 412.50 404.95 422.45 396.25 51.84 464.00 108.00 SomiConveyor 40.10 39.40 41.90 41.90 38.60 13.35 68.50 24.65 21 39.70SonaBLWPrecn 698.50 712.75 703.75 717.80 680.15 2108.00 839.90 295.00 Sonata [1] 817.90 841.00 820.00 848.50 817.90 388.12 1030.00 353.95 37 840.25SorilInfrRes 100.30 99.15 101.00 102.10 98.65 26.37 227.35 95.00 99.45South In Bk [1] 8.75 8.75 8.75 8.80 8.60 5437.93 13.95 7.54 8.73SpandnaSphor 430.60 426.45 436.00 436.90 422.20 71.16 830.00 392.20 SPApparels 398.60 399.25 403.00 409.30 393.65 43.98 449.40 132.00 17 399.30Spec.Rest 93.80 92.10 94.85 94.85 90.05 86.83 114.25 35.00 92.55SpencersRetl 102.25 99.10 103.00 103.00 98.85 253.08 144.30 65.70 SPIC 47.90 50.85 48.50 52.85 47.95 1591.10 68.45 20.15 8 50.75Spicejet 67.55 67.45 67.65 67.90 66.00 2794.86 100.75 59.40 SPL Ind 43.35 43.50 44.30 44.30 42.45 28.71 64.70 28.15 9 43.35Sr.Leathrs 174.10 170.00 176.40 179.00 168.20 5.42 233.95 131.20 24 173.05Sr.Ray.HHP 326.35 323.15 324.25 325.90 319.00 4.24 417.00 223.20 8 323.90SRF 2322.45 2315.95 2323.05 2350.40 2291.00 877.62 2544.00 1026.63 59 2318.55SrikalahPipe 190.45 191.00 191.15 193.00 183.20 34.82 247.95 136.35 5 191.55STAR HEALTH 799.10 787.55 799.15 802.55 784.65 190.38 940.00 784.65 Star Pap 126.55 124.25 126.55 127.55 123.60 13.68 181.60 104.15 7 124.50StarCement [1] 95.10 94.60 94.55 95.45 94.45 39.71 120.00 87.60 22 94.60STC India 107.70 110.80 115.20 122.65 109.65 2017.30 138.75 65.00 110.70Steel Strp [5] 823.40 820.60 834.90 834.90 810.00 14.85 995.00 238.88 14 820.80STEELCAST 290.25 293.40 292.90 299.85 290.30 1.42 329.90 259.90 SteelCitySec 56.70 55.65 58.20 58.20 55.35 13.75 98.70 28.20 SteelExIndia 159.30 161.65 160.10 164.00 156.50 1664.94 164.00 31.25 Stel Hld [1] 155.70 152.60 153.80 156.95 150.35 14.28 0.24 0.20 Ster.Tool [2] 181.60 176.45 184.90 184.90 175.60 17.21 257.00 163.00 16 176.75Sterlg&Wilsn 378.05 381.30 380.85 387.70 376.50 482.48 509.10 183.50 SterliteTech 284.80 281.75 287.40 287.70 281.00 218.33 318.00 150.00 StoveKraft 958.25 960.40 958.25 974.00 955.00 49.57 1133.70 406.10 Str.Arcolab 433.20 429.05 434.70 435.85 426.50 463.77 1000.00 403.55 58 429.10StylamIndust 1070.45 1056.50 1072.00 1075.00 1045.00 2.58 1419.90 927.25 SUBEX 52.90 51.80 53.25 53.40 51.60 4185.50 74.40 23.20 Subros [2] 361.00 363.75 362.60 369.85 357.00 16.16 418.00 283.40 39 363.70Sud.Chem [2] 561.20 559.80 561.00 565.00 546.00 99.98 791.95 453.40 33 556.95Sumeet 9.70 9.30 9.80 9.85 9.25 249.04 12.78 2.28 5 9.22Sumit.Sec 618.40 620.40 613.00 622.95 613.00 1.76 861.55 460.05 29 620.10SumitomoChem 364.80 361.30 364.80 365.25 360.10 87.96 459.90 268.20 SumitWoods 11.30 11.35 11.30 11.65 10.60 26.35 22.00 8.00 Sun Pharma [1] 792.45 785.40 793.40 794.80 777.60 3076.27 850.00 550.70 106 785.30Sun Phr Adv [1] 251.30 246.25 251.80 252.10 245.15 147.04 311.90 141.00 246.55Sun TV [5] 501.50 491.75 505.00 505.00 490.00 685.56 611.25 446.00 12 492.30

Sund.Brak 365.65 365.10 371.85 373.60 362.25 0.26 480.05 289.00 28 358.75Sund.Clay [5] 3908.95 3869.10 3928.50 3939.95 3818.05 2.55 5123.55 2530.00 46 3861.10Sund.Fast [1] 872.80 864.25 875.10 884.15 853.30 20.94 993.00 513.40 37 862.35Sund.Fin 2250.00 2227.30 2278.95 2278.95 2206.00 7.36 2883.95 1659.65 29 2226.85SundarFinHol 76.95 76.80 77.90 77.90 76.35 63.15 94.70 65.70 Sunfl�ag 68.55 66.80 69.65 69.65 66.20 140.77 96.55 54.05 5 66.90Sunteck [1] 448.25 443.10 448.30 451.20 438.60 291.46 524.45 250.05 262 442.80Super Spn [1] 11.10 11.50 11.25 12.00 11.25 568.39 14.62 4.00 11.50Superhouse 162.15 160.50 161.05 163.35 158.60 7.20 201.25 98.00 7 160.35Supr.Ind [2] 2235.85 2218.95 2237.00 2237.00 2201.55 16.03 2689.00 1600.00 30 2218.05Supr.Petro 705.55 688.85 713.90 713.90 686.25 13.99 820.00 339.25 10 688.90Suprajit [1] 409.30 412.30 411.80 416.95 406.30 159.97 475.00 189.90 37 413.00SupremeEngg 19.35 19.50 19.80 19.80 18.45 79.38 40.05 17.70 Surana Tel [1] 10.00 9.95 10.30 10.30 9.70 342.62 11.21 3.96 9.98Surya Rosh 631.00 625.90 660.00 668.90 620.05 252.05 868.40 308.35 17 627.15Suryalaxmi 67.30 66.80 69.80 69.80 66.55 10.82 78.00 27.40 12 67.00SuryodaySFB 147.85 145.85 148.50 149.75 145.00 51.13 296.35 138.50 Sutlej Te [1] 76.25 77.00 76.90 79.15 76.20 133.70 92.40 36.80 12 77.00SuumayaLife 320.55 310.10 325.95 332.00 305.30 94.72 736.85 95.00 Suven Lif [1] 90.05 90.55 90.70 93.00 89.70 309.98 124.40 69.45 90.70SuvenPharma 490.10 480.40 490.00 495.40 475.10 89.55 590.00 388.45 SuvidaInfSvc 12.35 11.90 12.40 12.55 11.80 1165.69 59.65 9.70 Suzlon [2] 7.75 8.10 7.85 8.10 7.4576693.59 9.45 4.36 8.13SVPGlobalVen 78.75 76.45 78.90 82.00 75.90 768.44 164.85 71.10 Swan Ener [1] 148.20 147.30 146.65 150.30 139.20 3019.15 175.55 112.50 147.10Swaraj Eng 1640.85 1635.70 1645.00 1645.00 1628.40 3.95 1989.90 1254.95 16 1634.90Swle. Ener 237.25 233.05 238.40 238.40 232.45 8.83 300.10 159.10 28 232.25Symphony [2] 1006.65 1000.65 1006.65 1017.45 998.00 17.87 1529.65 890.00 57 999.40SynergGreen 160.65 161.35 161.95 163.95 157.55 3.02 200.00 135.90 Syngene Int 613.60 591.05 613.60 613.60 589.50 448.43 699.95 490.35 59 591.35

T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Tainwala 68.70 69.20 72.10 72.10 66.00 7.39 124.00 53.85 69.30Taj GVK [2] 127.20 125.25 127.20 127.50 124.90 37.77 161.15 102.20 125.15Take Sol [1] 45.70 45.20 45.95 46.15 45.00 316.19 74.65 42.30 45.20Talbros 387.20 375.75 390.20 390.20 374.00 36.18 436.90 137.40 13 376.25Tanla Sol [1] 1901.50 1891.50 1918.25 1937.90 1870.00 218.94 2027.90 570.65 202 1888.85Tarmat 69.80 68.65 70.45 71.45 68.25 52.97 98.00 42.10 16 68.95TARSONS PRO 635.10 635.05 635.75 644.00 622.00 267.31 924.90 581.45 TastyBiteEat 13413.00 12996.50 13421.50 13578.40 12807.00 3.38 21470.50 11430.05 93 12997.95Tata Chem 886.10 872.20 889.95 892.00 868.20 644.90 1158.00 466.40 36 872.00Tata Cof [1] 202.95 201.00 203.90 203.90 199.35 730.73 254.00 91.15 33 201.00Tata Com 1395.60 1375.65 1401.95 1424.00 1370.00 236.20 1539.95 930.05 41 1376.50Tata Elxsi 5491.00 5501.00 5499.20 5594.90 5481.00 112.44 6780.00 1641.20 75 5501.55Tata Inv 1366.85 1351.85 1373.70 1373.70 1339.15 11.43 1734.00 953.00 44 1351.50Tata M DVR [2] 233.30 225.95 234.15 234.15 222.60 3028.56 298.50 67.20 225.95Tata Metlk 846.15 829.40 854.35 854.35 824.95 49.88 1374.00 585.70 9 829.95Tata Motors [2] 472.35 467.60 474.90 474.90 460.0015487.37 536.50 163.35 467.55Tata Steel 1127.65 1115.45 1130.05 1133.45 1103.85 4093.63 1534.60 596.05 5 1115.55TataConsuPro 726.75 718.95 729.00 729.00 714.00 931.51 889.00 551.00 TataPowerC [1] 218.05 216.80 219.05 219.45 214.1518770.42 269.70 71.55 24 216.85Tatapur 5.25 5.20 5.20 5.20 5.20 3.84 6.88 3.00 5.01TataStlLngPr 713.15 704.15 712.00 719.90 699.80 30.46 1087.70 468.50 TatvaChinPha 2505.35 2500.10 2507.00 2536.90 2461.00 29.14 2977.80 2001.00 TCI Devl 327.15 323.30 328.00 328.15 319.00 0.23 549.00 285.50 TCI Express [2] 2383.30 2240.80 2324.65 2344.25 2210.00 98.61 2570.00 807.00 64 2238.45TCI Fin 6.60 6.50 6.60 6.60 6.50 3.92 7.50 4.41 6.65TCNSClothing 803.05 790.70 814.00 814.00 781.60 23.03 932.00 392.00 TCPLPackage 508.10 506.10 508.10 517.55 504.00 6.10 612.00 336.05 TCS [1] 3662.70 3670.90 3685.00 3705.00 3644.80 2209.92 3990.00 2701.00 38 3670.25TD Power 400.80 399.95 393.00 405.00 393.00 15.02 435.00 124.00 36 399.60TeamleaseSvc 3752.80 3677.50 3775.05 3827.55 3630.00 23.56 5544.10 2433.50 69 3670.85TechMahin [5] 1683.80 1723.80 1683.35 1735.20 1680.35 3343.95 1691.00 915.05 34 1723.45Technocr 803.70 789.05 795.15 803.25 785.80 2.76 993.40 320.00 12 789.80TechnoEle&En 231.70 229.35 233.80 234.30 225.10 51.73 362.80 197.60 TEGA INDUST 582.45 584.95 594.00 594.95 580.00 476.00 767.70 545.40 TejasNetwork 416.50 409.65 421.90 424.00 407.60 126.82 570.50 122.50 TeraSoftware 49.00 47.90 49.50 49.50 47.00 39.91 85.00 33.00 47.95Tex.Infra [1] 57.70 61.20 57.70 64.35 57.70 781.40 83.75 39.75 60.90Tex.Pipe 70.45 68.75 71.45 71.45 68.30 132.71 79.55 19.00 12 68.65Tex.Rail [1] 29.40 28.90 29.65 29.65 28.70 970.75 37.99 21.83 19 28.95TGB Banq 8.80 8.90 9.05 9.20 8.65 36.19 12.90 4.14 8.70Thanga.Jwl 1294.15 1304.60 1299.00 1311.00 1280.00 4.21 1520.00 547.20 30 1305.95The Byke Hos 31.50 31.65 32.70 32.70 31.45 21.12 43.60 16.55 31.60TheAnupEngg 1018.10 1012.80 1015.00 1026.40 1005.10 16.40 1160.65 548.00 TheGrobTeaCo 963.40 943.45 994.00 994.00 931.20 0.24 1444.80 546.05 TheInvstTrst 99.55 98.15 102.00 102.00 97.40 4.88 158.50 83.00 TheMandRetVe 16.00 15.80 15.80 16.40 15.70 56.25 25.00 10.21 15.75Themis 896.50 889.75 900.50 903.50 860.10 4.23 1198.80 271.70 14 894.40TheNewIndA [5] 134.80 134.90 135.95 135.95 134.05 135.45 197.00 119.00 23 135.05Thermax [2] 1766.05 1753.70 1755.00 1772.90 1726.00 49.85 1944.80 881.65 118 1751.35Thiru.Chem [1] 226.25 219.65 227.00 227.90 218.65 431.41 357.25 85.00 13 219.70Thom.Cook [1] 61.85 60.50 62.80 62.80 59.40 160.51 85.45 40.00 60.70ThyrocareTec 1008.30 1005.25 1014.80 1023.65 992.05 92.29 1465.90 832.00 30 1005.55Tidewater [2] 1476.00 1465.15 1470.00 1499.00 1456.25 9.05 3693.75 840.00 24 1464.75Tijaria 7.75 7.95 8.00 8.10 7.45 84.08 10.74 5.61 8.04TIL 146.05 141.45 145.00 147.80 140.30 8.38 245.00 128.05 143.65Time Gty 43.60 43.50 43.60 43.85 41.05 9.10 66.75 21.45 7 43.60Time Tech [1] 71.15 71.15 71.75 73.65 70.90 969.57 94.50 46.00 18 71.20Timken 1919.75 1899.50 1915.00 1936.00 1890.25 20.96 2174.55 1101.70 63 1897.55Tinplate 267.65 264.50 268.80 268.80 261.80 117.18 348.00 140.70 12 264.35Tita.Wag [2] 91.35 88.10 90.50 91.50 86.20 605.36 109.60 44.20 15 88.20TitanComp [1] 2329.90 2319.45 2340.10 2341.90 2310.00 534.07 2678.10 1396.25 118 2316.40TN News 123.00 122.15 123.40 124.15 121.25 28.80 182.80 116.45 121.85TN Petro 104.05 102.10 104.30 104.80 101.30 174.32 150.45 38.00 6 102.20Tokyo Pl 96.50 96.10 97.70 98.00 95.15 3.51 122.00 63.65 60 96.25Tor.Pwr 542.20 533.40 544.95 547.90 529.55 536.77 606.05 298.00 20 533.65TorrentPhar [5] 3162.50 3046.20 3180.00 3199.00 3036.35 280.60 3248.00 2311.30 45 3044.95TotalTranspt 89.90 86.80 90.85 90.85 85.00 84.85 106.50 38.55 Tou.Fin.Cor 59.75 58.50 59.70 60.90 58.15 100.36 83.30 45.85 6 58.40TouchwoodEnt 121.55 119.00 123.40 123.40 117.35 1.11 148.45 48.00 TPL Plastech 158.90 162.50 163.70 171.50 156.35 6.88 228.30 65.53 20 162.45Trans.Corp [2] 731.30 723.15 737.80 738.00 711.00 190.04 838.00 234.80 25 723.05Tree Hse 11.40 11.00 11.85 11.90 10.85 44.82 13.70 6.49 11.02TrejharaSolu 87.95 85.05 89.00 93.05 84.35 427.22 109.70 26.95 Trent [1] 1042.15 1041.00 1043.35 1052.75 1020.25 288.36 1208.30 587.95 192 1041.00Trib Bhimji 77.00 76.45 77.95 77.95 75.70 74.83 104.40 44.40 11 75.75Trident [1] 53.10 52.10 53.40 53.40 51.6510952.72 59.90 8.80 41 52.10Trigyn 150.10 143.85 151.00 153.10 142.65 817.29 173.00 57.05 143.85TRIL [1] 30.50 29.95 30.80 30.95 29.70 208.49 37.25 15.90 29.95Triv.Eng [1] 216.90 216.00 218.65 222.35 215.10 660.14 235.00 69.00 16 216.25Triv.Tur [1] 176.55 174.35 178.30 179.70 173.50 163.03 229.00 79.35 59 174.35TT 81.65 82.80 81.25 83.75 80.50 13.02 94.00 40.15 5 81.30TTK Prst [1] 962.65 947.60 972.80 973.00 945.00 91.25 1269.60 568.53 46 948.10TTKHealtcare 693.40 676.95 698.00 701.15 675.05 10.32 825.00 456.80 27 679.15TubeInvIndia 1711.85 1708.05 1718.00 1720.00 1681.35 54.94 1798.00 750.10 TV Today [5] 429.50 425.30 431.00 434.30 420.75 128.18 460.00 204.85 14 425.80TV18 Br [2] 44.65 45.45 44.35 46.25 43.6010781.50 55.80 26.05 45.45TVS Elec 174.50 171.35 173.65 176.40 170.50 31.82 217.00 109.05 21 171.20TVS Mot [1] 620.35 610.50 622.55 622.80 606.00 1040.32 793.45 462.20 32 610.40TVS Sri 2020.45 2018.90 2022.00 2045.85 2000.10 13.10 2588.00 1647.50 16 2017.10

U . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .UB [1] 1590.10 1568.75 1654.00 1654.00 1555.05 1000.17 1793.65 1050.00 124 1569.90Ucal Fuel 139.60 137.50 141.00 141.00 136.25 9.99 206.10 120.00 8 138.25Uco Bk 13.00 12.95 13.10 13.10 12.80 3501.14 16.30 10.60 12.98UDAIPUR CE 36.35 35.75 37.35 37.35 35.35 76.08 38.00 35.35 Ufl�ex 514.25 502.15 517.50 517.50 498.00 48.95 658.45 337.75 17 501.85UFO Moviez 94.80 92.75 96.00 96.00 92.00 101.33 125.45 68.75 92.55Ugar Sug [1] 29.45 29.05 29.45 29.75 28.80 86.88 40.10 14.95 16 29.05UgroCapital 197.75 196.85 197.00 201.20 196.00 81.66 218.60 108.55 UjivanFinSer 132.10 130.15 133.00 133.45 129.75 297.74 310.85 125.50 130.15UjjivanSFB 18.80 18.55 18.95 18.95 18.50 906.30 44.60 17.00 UltraTech 7340.60 7224.80 7362.00 7450.00 7201.90 270.34 8267.00 4984.95 33 7224.05UmangDair [5] 69.65 69.05 69.65 70.70 68.05 7.39 99.00 48.00 69.05Unichm Lab [2] 241.05 247.10 242.30 248.75 241.25 42.63 374.90 197.50 246.75Union Bk 44.50 43.10 44.65 44.70 42.8012289.31 54.80 28.90 6 43.10Uniph.Ent [2] 115.70 118.35 117.00 120.00 115.25 12.27 149.95 62.00 15 118.30United Nil 327.80 328.30 326.55 333.40 319.05 0.77 499.90 280.40 United Spr [2] 904.15 886.35 909.05 909.05 884.25 594.28 1019.75 495.15 78 887.05UnitedDrilng 394.70 383.35 399.90 399.90 381.00 13.19 503.95 242.25 Univ.Cab 146.20 146.05 149.00 149.00 145.05 11.49 217.55 123.00 19 146.45UnivastIndia 61.55 62.75 63.90 63.95 61.10 8.16 76.70 27.15 UniversusImg 763.90 729.80 769.90 769.90 726.00 12.69 818.00 154.95 UPL [2] 754.75 746.85 759.00 759.00 739.10 1276.73 864.75 439.00 143 746.85UrjaGlobal [1] 15.60 16.35 16.35 16.35 16.35 777.86 16.14 4.93 16.94Usha Mar [1] 88.00 89.70 88.85 90.50 86.30 461.62 102.65 28.20 19 89.85UTIAMC 1005.60 1026.90 1010.90 1039.00 994.45 240.43 1216.20 535.00 Utm.G.Stl 5.00 5.05 5.00 5.15 4.85 923.72 11.08 3.56 5.06Utm.Sug 173.55 168.60 175.95 175.95 167.00 18.43 307.25 88.00 9 169.30

V . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .V Mart 3594.65 3578.45 3570.00 3619.00 3540.00 15.33 4620.00 2322.80 1999 3574.00VA T Wab [2] 306.10 306.25 308.55 308.55 303.30 210.21 404.25 183.20 21 305.65Vadilal 917.25 949.75 917.40 998.00 895.05 70.70 1264.00 751.00 286 951.00VadivrSpeChe 289.65 286.35 293.85 293.85 277.90 20.01 329.00 103.05 Vaibhav [2] 584.65 571.15 589.90 593.80 570.00 57.01 1057.70 420.40 106 571.05VaishaliPhar 34.55 33.40 35.25 35.25 33.10 43.92 77.05 28.95 Vakrang [1] 37.30 42.00 37.45 42.70 37.0043003.87 69.85 29.15 42.00ValiantOrgan 1016.60 1036.00 1018.00 1043.00 1004.20 40.57 3488.40 970.00 Vard Text 2196.05 2193.00 2215.00 2215.00 2150.00 84.65 2374.05 971.00 12 2195.25Vard.Acry 50.15 50.40 50.60 51.70 49.80 208.46 310.00 148.60 273.05Vard.Hld 2843.55 2931.70 2911.05 3000.00 2862.00 1.16 3810.40 1330.00 24 2916.05Vard.SPC 229.40 222.25 229.50 230.20 221.20 44.96 309.30 111.20 9 222.85VarrocEngg 318.85 311.50 323.00 323.00 308.00 97.42 477.65 260.00 VarunBevera 849.60 839.40 850.00 856.30 835.55 235.78 1020.00 570.00 80 839.30Vascon 24.45 23.95 24.40 24.55 23.70 459.04 31.75 13.30 23.95Vaswani 15.60 15.70 15.95 15.95 15.35 24.17 19.72 5.39 9 15.63Vedanta [1] 344.00 345.80 346.15 350.35 339.55 6096.01 385.75 137.60 9 345.70Venky's 2520.40 2552.35 2520.40 2639.45 2495.85 89.89 3950.00 1494.70 13 2556.40VenusRem 379.05 375.35 383.90 388.65 371.25 73.21 638.50 127.50 8 375.55VertozAdvtsg 101.90 99.85 103.70 104.00 99.55 42.55 322.00 79.60 Vesuvius 1072.70 1063.05 1076.50 1082.95 1061.10 3.81 1362.00 903.50 30 1068.50Veto Switch 103.05 103.00 105.40 105.40 101.20 36.21 171.85 75.70 9 102.95VGuard [1] 224.25 222.70 226.00 227.00 222.15 111.57 285.00 184.60 42 222.80VidhiSpclIng [1] 370.20 385.55 370.20 392.00 365.50 241.69 415.90 115.95 38 385.40VijayaDianos 542.65 532.85 538.00 541.55 531.95 20.49 672.00 505.20 VikasLifecre 3.45 3.45 3.45 3.50 3.40 4576.20 7.30 2.65 VikasPro&Gnt 2.00 2.00 2.00 2.05 1.95 1899.63 3.75 1.50 VikasWSP 3.60 3.55 3.70 3.70 3.45 888.21 8.05 2.95 Vimta Lab [2] 396.80 397.35 393.10 405.00 388.95 48.42 453.00 145.20 26 397.10Vinati Org [1] 1916.50 1917.15 1918.15 1950.00 1896.40 33.33 2180.40 1128.00 66 1917.75Vindh.Tel 1039.10 1030.45 1048.85 1048.85 1027.00 2.96 1499.00 765.05 12 1031.90VineetLabs 74.25 72.70 75.45 75.45 72.10 8.94 124.00 61.00

Vinyl Chm [1] 242.30 235.25 242.55 244.80 232.00 52.85 330.55 110.55 23 235.30VIP Ind [2] 556.85 540.45 561.95 561.95 535.10 279.14 668.00 309.00 540.90VIPClothing [2] 19.10 18.95 19.40 19.40 18.60 86.66 27.80 11.66 19.00Vipul Ltd [1] 25.10 25.45 25.95 26.35 24.65 13.59 41.90 17.35 25.50Visak.Ind 589.60 579.90 590.00 592.95 575.55 18.99 873.55 354.30 8 581.45VishalFabric 90.00 89.65 91.55 92.35 88.05 34.32 132.70 40.70 VishwarajSug 28.05 29.45 28.25 29.60 28.05 4895.19 220.00 27.90 Vivi Lab [2] 19.65 19.95 19.80 21.20 19.70 1118.81 41.50 12.90 20.00VLS Fin 187.60 184.40 188.90 189.85 182.00 31.49 264.85 64.15 2 184.55Voltamp 1918.35 1885.80 1940.00 1940.00 1875.00 6.68 2255.00 986.40 17 1884.60Voltas [1] 1209.80 1196.50 1209.80 1209.80 1185.00 427.61 1356.90 794.25 66 1195.05VRL Logistic 462.05 448.65 485.00 485.00 436.00 226.52 534.00 165.00 33 449.20VST Ind 3073.20 3114.10 3088.60 3180.40 3075.00 5.85 3920.00 3039.00 16 3106.35VST Til 2736.75 2703.45 2740.00 2765.40 2686.65 5.35 3458.45 1650.00 23 2700.25

W . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Wabco Ind [5] 8172.65 8167.40 8189.95 8200.00 8075.10 2.07 8716.00 5285.00 101 8151.40Walch.Ind [2] 50.25 49.85 50.60 51.50 49.65 344.17 92.00 39.30 49.85Waterbase 101.35 100.05 102.00 102.00 99.10 34.32 145.80 95.90 Webel SL 96.90 100.05 97.85 103.90 95.45 1166.50 113.40 35.25 45 100.10Weizman 55.55 58.20 56.10 59.60 55.15 35.28 70.45 37.30 26 57.85Wels.Corp [5] 175.95 172.15 175.95 176.95 168.50 2434.29 193.75 106.00 11 171.85Wels.India [1] 142.65 142.05 143.30 143.30 140.15 671.74 170.75 65.00 23 142.05Wels.Inv 272.35 268.05 279.95 279.95 266.70 1.23 587.00 235.60 36 269.05Welspun Ent. 93.50 91.85 94.45 94.45 90.95 82.12 134.90 74.70 13 92.05Wendt 4980.45 5035.40 4915.00 5125.00 4915.00 0.63 6249.00 2825.00 46 5057.65West C Pap [2] 238.20 233.90 239.40 239.40 232.25 59.43 295.35 169.50 12 234.00WestlifeDevp 555.90 558.00 559.80 572.35 552.50 34.72 629.00 385.10 Wheels Ind 645.60 623.60 645.00 645.80 620.00 22.38 1039.00 412.05 22 623.55Whirlpool 1769.20 1753.05 1784.00 1784.00 1748.95 228.42 2777.00 1727.15 76 1754.50Win.Diamond[2] 37.15 36.60 37.70 38.20 36.35 69.38 44.60 16.60 12 36.65WindlsBiotec 264.00 266.10 262.50 269.45 261.65 45.14 452.00 258.05 WINPRO IND 8.85 8.90 8.85 9.00 8.55 702.34 16.15 5.00 Wipro [2] 694.55 698.45 697.75 702.40 690.15 6591.21 739.80 370.25 39 698.50Wockhardt [5] 393.95 391.65 395.00 398.90 389.50 380.97 804.50 388.00 391.50WonderlaHoli 206.85 202.00 206.85 207.50 200.70 32.19 269.90 172.65 202.10WorthPeriprl 91.85 92.45 90.10 93.00 89.00 17.95 119.45 43.10

X-Z . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Xchang 104.75 102.50 105.15 105.50 102.05 319.12 141.25 60.20 52 102.55XelpmocD&T 380.30 379.80 390.00 390.00 378.00 16.60 513.00 238.05 YAARI DIGI INT 92.00 91.60 92.10 93.05 89.50 52.35 183.45 72.15 Yes Bk [2] 13.55 13.25 13.60 13.65 13.1584988.16 18.60 10.51 13.23YukenIndia 556.50 563.75 557.20 565.00 552.95 0.86 685.00 542.05 Zee Ent [1] 338.15 331.80 342.00 342.00 330.0515973.00 378.60 166.80 20 331.70Zee Learn [1] 14.05 14.20 14.15 14.35 13.75 1542.35 20.12 9.75 14.16Zen Exp 87.40 87.10 85.05 87.50 85.00 0.27 116.00 60.55 88.95Zen Tech. [1] 214.65 215.00 214.70 223.00 214.15 301.68 257.70 65.00 214.95ZensarTec [2] 475.10 477.60 486.00 492.75 475.20 1984.10 587.00 222.10 35 477.65Zod.Clo 106.80 105.20 107.10 108.80 103.25 19.10 153.80 85.05 105.10ZODIAENERGY 44.95 47.15 47.15 47.15 47.15 3.00 47.15 32.10 ZomatoLtd 133.00 131.45 134.50 134.50 129.6017625.58 169.00 115.00 ZotaHealthCr 404.55 398.05 406.00 409.00 392.40 28.53 448.00 137.25 Zuari Ag 108.10 111.65 107.50 113.90 107.50 87.71 158.90 83.30 111.85Zuari Glo 134.65 136.15 135.05 139.90 134.35 80.43 177.70 60.60 6 136.10ZydusWel 1889.30 1873.00 1900.00 1901.15 1865.00 9.90 2472.85 1810.00 1871.15

Exchange Traded Funds

Company Pre Cl NSE Cl Vol 52 WH 52 WL BSE Cl

Axis Gold [1] 41.85 41.79 1115.82 44.99 38.36 41.77AXISAMC AXISBNKETF 352.11 351.59 0.89 449.40 288.72 AXISAMC AXISBPSETF 10.45 10.44 23.91 10.69 9.06 AXISAMC AXISCETF 69.50 68.51 0.99 81.00 60.00 AXISAMC AXISHCETF 85.30 84.95 3.89 105.00 82.00 AXISAMC AXISNIFTY 178.84 178.41 1.81 212.22 130.15 AXISAMC AXISTECETF 376.93 381.58 0.89 404.00 250.95 Bank BeEs [1] 353.97 350.07 734.33 420.43 294.22 350.12Birla Gold 44.06 43.83 5.70 49.23 40.50 43.84Birla Nifty [100] 18.93 18.91 2133.54 4900.00 4061.00 BIRLASLAM ABSLBANETF 35.02 34.79 3.80 420.00 33.90 BIRLASLAM ABSLNN50ET 42.62 42.46 9.16 520.00 40.60 BIRLASLAMCBSLSENETFG 54.73 54.35 1.97 664.99 52.80 BIRLASLAMC HEALTHY 8.57 8.53 61.01 10.41 8.21 BIRLASLAMC TECH 37.25 37.64 13.04 42.80 33.56 ConsConstCon 137.55 137.16 120.91 156.00 95.00 DSPAMC DSPNEWETF 190.12 190.69 1.20 204.70 184.00 DSPBRAMC QUIDETF 1000.00 1000.00 48.61 1020.00 877.00 EDELAMC BBETF0432 1001.84 1001.30 1.36 1004.99 998.10 EDELAMC EBANK 3855.00 3721.66 0.08 4398.00 3101.10 EDELAMC EBBETF0423 1154.96 1155.52 11.18 1181.38 900.00 EDELAMC EBBETF0425 1074.49 1074.34 2.24 1170.00 1005.00 EDELAMC EBBETF0430 1193.53 1194.66 5.00 1247.90 895.00 EDELAMC EBBETF0431 1073.70 1074.25 4.03 1143.10 994.01 Gold BeEs [1] 41.69 41.71 1541.47 45.20 38.17 41.75Goldmanamc CPSEETF 29.64 29.19 659.08 32.83 18.91 29.15HangSengBees [1] 302.45 303.09 2.16 382.00 287.00 303.01HDFC Gold [1] 42.90 42.90 1289.29 50.00 38.70 42.92HDFCAMC HBANKETF 354.08 349.19 1.53 419.95 288.33 HDFCAmcNift [76] 178.97 180.08 130.65 202.00 143.71 180.95HDFCAmcSens 600.36 604.39 4.31 6300.00 455.00 IBULLSAMC IBMFNIFTY 181.52 181.00 0.70 200.00 130.00 ICICIPRAMCBHARATIWIN 44.47 44.18 108.73 51.40 29.50 ICICIPRAMC ICICI500 24.36 24.22 38.11 283.80 23.12 ICICIPRAMC ICICIALPLV 175.05 175.24 26.02 189.70 131.00 ICICIPRAMC ICICIBANKP 177.00 175.12 63.60 227.70 158.00 ICICIPRAMC ICICICONSU 69.14 68.68 1.01 82.00 57.01 ICICIPRAMC ICICIFMCG 370.46 370.60 3.62 437.00 360.00 ICICIPRAMC ICICILIQ 999.99 1000.00 36.97 1040.00 971.50 ICICIPRAMC ICICIM150 114.90 113.83 5.19 125.39 73.50 ICICIPRAMC ICICINXT50 42.67 42.46 17.81 49.70 30.52 ICICIPRAMC ICICIPHARM 85.92 85.25 62.88 95.00 82.00 ICICIPRAMC ICICITECH 381.62 387.39 1540.28 400.10 201.48 ICICIPRAMC IPRU5008 349.89 346.95 434.74 449.70 285.00 ICICIPRNIFLWVL30ETF 42.88 42.90 304.92 50.40 37.05 ICICIPRNIFLWVL30ETF 102.54 101.45 3.67 115.00 72.40 ICICIPRUDENTIALNV20ETF 95.66 95.81 12.59 101.70 64.00 ICICIPRUDNIFTY100ETF 185.92 187.40 49.72 208.00 141.61 ICICIPRUDNIFTYETF 182.82 182.27 181.38 231.30 133.70 ICICIPRUDSENSEXETF 623.15 621.78 1.21 700.00 448.60 IDBI Gold [100] 4438.35 4454.00 0.07 4900.00 4061.00 IDFCAMC IDFNIFTYET 179.19 178.24 0.22 223.00 133.61 Infra BeEs 511.25 506.73 0.86 1950.00 1377.00 1768.00InvesIndGold [100] 4297.75 4314.05 0.01 4745.00 3989.50 4314.46Kotak Nifty [5] 179.80 179.03 30.45 2252.45 1627.25 1748.25Kotak PSU Bk 249.23 246.95 19.88 299.30 161.60 245.99KOTAKMAMC KOTAKIT 37.48 37.98 31.54 39.88 23.36 KOTAKMAMCKOTKBKETF 355.42 350.87 704.49 429.70 292.95 KOTAKMAMCKTNV20ETF 95.96 97.74 13.70 104.60 57.70 Kotal Gold [1] 42.12 42.09 1088.39 45.29 36.81 42.10LICNAMC CNFENGP 181.75 181.79 0.88 210.00 135.07 183.50LICNAMC CNFESGP 610.74 611.92 37.92 670.07 462.00 LICNAMC CNFNHGP 182.11 182.34 112.77 230.00 116.51 LICNAMC CNMFET 22.52 22.59 1.22 26.94 19.00 Liquid BeEs [1000] 999.99 1000.00 1881.13 1015.00 972.35 1000.01MIRAEAMC MAESGETF 29.23 29.05 4.30 32.18 21.75 MIRAEAMC MAFANG 55.97 56.25 147.95 69.00 44.00 MIRAEAMC MAFSETF 17.11 16.97 173.17 21.00 15.05 MIRAEAMC MAHKTECH 18.24 18.15 26.33 23.00 17.70 MIRAEAMC MAN50ETF 175.62 175.14 177.41 210.80 134.80 MIRAEAMC MANXT50 418.20 415.45 1.61 530.18 301.47 MIRAEAMC MASPTOP50 30.83 30.91 23.36 32.93 24.20 MOTIOS MIDCAP100 ETF 31.42 31.41 41.24 35.95 17.50 MOTILOS NASDAQ100 ETF 119.78 120.54 236.10 1143.10 95.80 MOTILAL OSWAL M50 ETF 172.12 168.80 1.99 194.00 115.95 MOTILALAMC G5 49.27 49.25 1.52 58.00 45.00 NI I ETF NIFTY MIDCAP 150 115.10 114.09 49.94 127.00 73.20 NiftyBeEs [1] 184.10 183.45 1561.74 201.00 141.05 183.39NiftyJrBeEs [1] 438.75 436.33 107.63 473.00 324.60 436.23NIIndETFLong 22.80 22.85 28.93 25.80 19.65 NIPETFDivOpp 44.38 44.74 0.54 50.50 31.00 NIPP INDIA ETF NIFTY 100 179.10 178.70 5.04 219.40 132.30 NippnIndNim 107.32 107.27 2.02 109.25 101.50 NippoIndETF 74.73 74.74 1.27 86.00 60.03 NIPPON INDIA ETF NV20 98.72 98.64 3.08 104.90 69.23 NIPPONAMNETFPHARMA 13.64 13.55 205.15 17.44 13.12 PSU Bk BeEs [1] 27.81 27.29 1238.77 33.49 18.12 27.31Qgold [2] 41.40 41.50 33.46 44.78 38.06 41.50Qnifty 1780.00 1768.95 0.02 1950.00 1377.00 1768.00RELCAPAMC NETFGILT5Y 49.27 49.21 0.15 50.90 46.86 RELCAPAMC NETFIT 38.11 38.70 2333.07 40.00 22.44 RELCAPAMCNETFSDL26 106.83 106.75 12.49 110.05 100.93 SBIAMC SBIETFCON 69.40 68.86 1.26 77.31 62.00 SBIAMC SBIETFIT 380.18 384.21 6.22 399.30 203.00 SBIAMC SBIETFPB 179.57 178.20 1.98 222.00 158.80 SBIAMC SBIETFQLTY 152.89 153.47 0.83 164.98 118.00 SBIAMC SETF10GILT 206.19 206.00 0.28 237.98 190.33 SBIETF Gold 4280.55 4270.05 6.98 4705.20 3935.00 SBIETF NIFTY 50 173.93 173.49 234.03 196.54 131.60 SBIETF NIFTY BANK 350.75 347.95 100.23 420.00 289.00 SBIETFNN50 433.96 431.98 6.71 468.60 290.10 Sharia BeEs 449.95 448.12 0.53 518.00 334.63 450.96TATAAML NETF 174.22 176.72 121.86 222.68 152.60 TATAAML NPBET 182.33 178.71 1.25 228.89 152.80 UTI Gold [1] 41.70 41.65 76.48 46.75 39.21 41.67UTIAMC UTIBANKETF 35.31 34.91 2.57 428.00 26.40 UTIAMC UTINEXT50 43.78 43.34 25.87 435.30 33.00 UTIAMC UTINIFT 1791.16 1791.30 11.72 2240.00 1373.50 UTIAMC UTISENS 603.47 601.19 1.13 737.55 452.95 UTIAMC UTISXN50 48.49 47.65 1.05 426.90 37.10

*: Closing price is the average of trade price(s) for the last half an hour;52Week High/Low fi�gurespertain to BSE.

Shares of face value other than ₹�10 is indicated in brackets immediately following the name of thecompany.

Qty (No of shares traded) is denoted in thousands.

The PE(priceearnings multiple) of each stock is based on the latest declared earnings.

The PE computation takes into account the per share earnings of each company for the latest 12months.

BSE Stocks

7Seas 28.70 28.40A.Sarabhai 29.75 29.80Aadi Indus L 13.17 12.52Aanchalisp 17.42 18.25Aarey Drugs 39.70 39.40Aarnav 151.05 158.60Aartisurf 985.50 987.00Abslamc [5] 523.80 511.85Accel [2] 20.71 21.46Acemen 18.67 19.59Acrycil Ltd. [2] 813.90 797.20Adcindia 351.55 379.55Addi Ind. [5] 30.75 30.45Adhinath Tex 63.40 66.55Aditya Spin. 14.82 15.51Ador Fontec [2] 69.95 70.75Aiil [1] 178.55 175.25Aimco Pesti. 123.85 121.30Ajanta Soya 194.10 194.00Alfavison.Ov 123.55 124.80Alphalogic [5] 45.95 47.20Alu Fluoride 320.75 311.60Amines&Plast [2] 113.65 116.95Amiorg 953.75 931.70Amraw Agri [1] 1.34 1.40Anandrathi [5] 576.00 571.10Andhra Petro 122.65 123.15Andrew Yule [2] 23.60 23.50Ang 481.10 470.75Angelone 1168.55 1162.20Anmol 169.00 165.60Anuh Pharm [5] 102.45 101.70Anupam [1] 3.80 3.61Anuras 883.30 904.25Apm Indus. [2] 43.35 42.20Apmfi�nvest [2] 51.95 54.50Apollo Fin I 553.70 535.75Apollotri [2] 905.75 887.95Aptus [2] 334.55 335.70Arfi�n 93.75 92.85Arihant Cap. [5] 168.65 167.95Artemismed [1] 39.80 41.25Ashirw Cap [1] 6.47 7.76Ashnoor Tex. 92.75 95.60Asian Tea 22.35 21.70Asianene 131.65 131.50Asiil [1] 20.55 21.55Asrl 173.30 173.10Asso.Alcohol 501.40 494.15Avantel Ltd 696.05 697.05Avi 56.55 53.75Avl 673.85 649.50Avonmore 67.95 69.40Awhcl [5] 297.95 294.75B2b Soft. 40.05 38.80

Bajaj Steel [5] 861.10 864.45Bajajhcare [5] 373.85 374.40Balmer La.In 398.25 395.10Banas Fin. 52.75 55.35Barbeque [5] 1257.50 1224.35Baroda Extr. [1] 5.89 5.60Basant Agro [1] 12.85 12.83Bclil 331.95 329.05Bcpl 46.05 45.25Bectorfood 377.40 378.50Bengla& Asm 2191.20 2129.85Bestagro 994.50 979.90Bgjl 14.32 14.54Bhilwra Tec [1] 21.76 22.84Bihar Sponge 10.49 10.42Bilcare Ltd. 74.15 75.00Birla Pretec [2] 49.65 52.10Birlatyres 24.90 24.50Bla Ros Ind [1] 202.10 200.20Bmw [1] 37.90 37.65Bodhtree 39.15 38.20Boroltd [1] 431.40 416.40Bridge Secur 29.15 27.70Burgerking 144.80 143.30Cams 2596.05 2588.65Captain Poly [2] 20.50 20.20Cartrade 850.45 827.65Ceinsystech 211.05 242.45CgVak Softw 328.45 359.00Chamanl Se [2] 98.30 96.85Charterlogis [1] 9.02 8.94Chemcon 361.80 359.90Chemplasts [5] 550.45 548.65Cheviot Co. 1378.60 1402.05Clean [1] 2441.30 2400.15Clio Infotec 10.53 11.05Cni Res Ltd [1] 2.96 3.05Com Fincap 70.40 70.00Coral Lab. 312.70 300.90Cosmo Ferr. 238.75 243.00Craftsman [5] 2229.75 2272.75Cressand So [1] 7.94 7.55Ctl [1] 10.06 10.24Cubical Fin. [2] 2.76 2.84Datapattns 0.00 754.85Deccangold [1] 20.90 21.55Decipher 104.35 109.55Devhari [1] 0.90 0.94Devyani [1] 171.80 167.65Dhanvarsha [2] 125.15 124.00Dhp India Lt 649.85 680.30Dhruv 57.40 57.85Divya.Granit 80.30 74.30Dodla 552.70 546.95Duncaneng 270.45 266.70

Dynamic 87.35 87.15Earum [2] 10.45 10.95Eastwest [2] 9.38 9.50Ecoreco 91.95 91.95Eldeco Hous. 3587.35 3738.25Equitasbnk 60.05 60.05Essar Secu 4.04 4.12Evexia [2] 10.00 9.71Exxaro 145.75 142.90Facor Alloys [1] 6.06 6.08Fairchemor 1608.90 1598.55Fermenta [5] 279.35 282.60Fiberwb In 42.15 41.55Filat Fash [5] 5.16 5.41Finopb 392.30 390.80Flomic 197.45 199.25Fluorochem [1] 2272.40 2270.45Foods & Inns [1] 85.50 85.55Force Motr 1259.20 1253.10Fredun 769.90 791.25Freshtrop Fr 114.05 119.25Gajra Bevel 2.98 3.10Ganes Benzo [1] 102.60 99.05Gayatri Bio 15.10 15.05Gencon [5] 34.00 33.80Gennex Lab [1] 8.09 8.10Genpharma [1] 5.60 5.34Ggeng [2] 15.20 15.05Ggl 13.11 13.05Gland [1] 3871.15 3892.70Gls [2] 608.75 605.20Gnrl 10.99 11.42Gocolors 1131.10 1130.30Goodyear (I) 976.50 956.50Grauer& Weil[1] 57.65 57.20Gravity (I) 7.49 7.80Greenpanel [1] 407.10 405.05Grinfra [5] 1720.05 1660.25GrmOversea [2] 501.75 526.80Grwrhitech 807.55 792.40Guj.Terc Lab 15.21 15.15Guj.Themis. [5] 479.25 467.00H.P.Cotton 160.50 163.95Haldyn Glass [1] 42.85 41.15Hawkins Cook 5785.35 5762.70Hemiprop 128.60 123.95Heranba 647.75 644.55Hfi�l 20.40 19.90High Energy 1801.85 1980.90Hind.Fluroca 17.47 18.34Hitech 513.45 502.35Hleglas 5695.80 5728.00Homefi�rst [2] 831.30 815.55Icicilovol 138.00 137.08Icicitech 381.88 386.60

Iifl�sec [2] 88.80 87.90Iifl�wam [2] 1413.60 1407.60Imec 2.05 2.06Ind Cem Cap 9.13 9.91Ind.Acrylics 14.78 15.12Indiamart 6571.65 6453.90Indian Info. [1] 6.31 6.62Indigopnts 1954.10 1911.55Indo Amines 215.55 219.75Indoboraxc [1] 147.05 147.80Indrayani Bi 26.65 26.85Indrenew 13.30 13.96Indsil Hyd 51.30 49.30Innocorp L 7.82 8.21Int.Conveyor [1] 71.55 71.45Integra Tele 32.05 31.75Inter St.Fin [1] 5.10 5.22Ion Exchange 2082.70 2099.50Ipl [1] 321.65 319.55Ircon [2] 44.90 44.85Irctc [2] 841.35 836.95Irfc 22.90 22.55Iris 129.25 134.85Isec [5] 751.00 759.30Isgec [1] 563.25 655.95Jayshri Chem 6.02 6.32Jct Ltd [2] 5.68 5.96Jetfreight 53.10 50.45Jetinfotran 42.00 50.40Johnpharma 6.49 6.50Jstl 159.70 167.65Jtl Infra [2] 231.40 229.10Jublingrea [1] 532.80 528.50Jyoti Resins 1208.75 1148.25Kallam [2] 17.85 17.70Kalyankjil 67.60 67.80Kanchi 807.50 805.90Kanelind 4.68 4.81Kcp Sugar In [1] 23.50 22.75Kennametal 1742.20 1715.00Khaita Chem [1] 62.15 60.55Kilpest (I) 446.55 440.95Kims 1321.60 1349.40Kinetic Eng. 69.20 72.65Kirl.Ferrous [5] 202.05 198.40Kirlosar Pn [2] 430.20 430.20Kkalpanaind [2] 46.50 45.90Kmc Shil [1] 62.30 62.80Kpel 202.80 219.20Kpiglobal 303.15 318.30Kpittech 513.15 538.95Kranti 46.00 44.95Krettosys 13.72 14.37Kriti Nutri [1] 37.20 37.25Krsnaa [5] 654.50 652.40

Kuantum [1] 81.70 78.20Kushal [2] 4.90 4.99Lancer 209.50 205.75Latentview [1] 497.15 495.70Latimmetal 91.75 95.05Lee&Nee Soft 19.16 20.11Leshaind [1] 6.08 6.37Likhitha 337.15 337.20Link Pharma 40.85 49.00Lkpsec [2] 17.62 17.61Lodha 1274.60 1243.60Looks 15.25 14.70Lotus Choc 88.50 92.10Lxchem [2] 401.40 396.80M.P.Agro Ind 14.83 14.09Madhavipl [1] 5.66 5.38Madrasfert 27.50 27.25Mafang [40] 55.95 56.08Maha.Rubtech 61.50 61.65Mahepc 121.65 118.95Mahktech 18.25 18.00Makers Lab. 194.95 191.75Mangalam In[1] 4.99 5.23Manorg 990.45 979.30Manvijay [1] 68.50 69.00Mapmyindia [2] 1458.70 1432.45Maris Spin. 79.60 76.55Maxhealth 407.20 414.00Maxindia 75.30 74.65Mayukh [5] 17.40 16.95Mazdock 259.95 262.40MediaMatrix [1] 15.85 16.58Medicamen Bi 926.90 983.35Medplus [2] 1120.85 1075.25MenoPiston [1] 41.75 43.20Metrobrand [5] 481.60 470.80Mfl� 760.35 760.55Mishtann [1] 17.55 16.85Mitsu 321.20 307.50Modinatural 185.95 195.20Modison Met[1] 79.70 78.75Mol [1] 111.40 107.35Moschip [2] 79.60 83.55Mstc 332.90 328.00Mtartech 2278.90 2247.90Narayani 12.93 13.00Nat.Peroxide 1877.65 1825.85Nat.Plastic 42.90 47.35National Std 11174.20 11177.20Natural 12.55 13.80Natural Caps 293.35 283.45Ncl Research [1] 1.68 1.69Ndrauto 352.55 355.85Neogen 1618.85 1595.20Newlight 31.40 32.90

NglFine Chm [5] 2548.00 2548.40Nhcfoods 16.28 17.02Nikhil Adhsv 732.85 848.10Niraj Cement 32.10 29.80Niyogin 69.00 72.45Novartis [5] 784.70 778.95Nuvoco 503.20 497.15Nykaa [1] 2120.65 2044.85Nyssacorp [1] 7.64 8.02Oal [5] 684.65 699.15Odysse Corp [5] 9.76 10.24Odyssey Tech 96.10 96.35Oone 11.72 12.30Orientelec [1] 369.95 369.70Osiajee 41.35 41.35Ozoneworld 17.19 16.34Pan India C 5.89 6.18Pana Energ 308.85 304.80Panth 13.78 13.60Paras 697.50 686.30Parleind 8.87 8.86Parvati [5] 21.53 22.39Pas.Acrylon 39.85 43.00Patel Airtem 202.35 200.70Paushak Ltd 8286.80 8257.05Paytm [1] 1348.85 1369.50Pcs Tech 17.46 19.20Perm Magnets 330.80 367.30Piccadily Ag 27.00 26.25Pix Trans 841.85 838.15Pmcfi�n [1] 4.71 4.94Policybzr [2] 979.50 982.45Polycab 2389.60 2339.30Powerindia [2] 2555.95 2540.40Ppl 131.65 130.65Pqif 145.40 152.65Pradeep Met. 106.05 124.30Praveg 150.55 152.85Prima Plasti 100.35 102.50Prime Prop [5] 22.20 20.75Princepipe 701.40 695.95Prism Medi 8.58 9.00Prismx [1] 8.63 8.54Pritikauto [2] 18.15 18.85Pun.Alkali 238.85 238.80Raclgear 661.55 647.15Radhe Devlop 242.25 254.35Raghuvi Syn [1] 931.10 977.65Railtel 116.50 115.60Rama Phosph 310.20 306.35Raminfo 89.50 90.35Rategain [1] 382.60 371.95Rel.Chemotx 302.95 300.40Relhome 4.49 4.33Resonance 212.15 209.10

Rexnord Ele. 53.75 58.00Rgrl 16.70 16.20Riba Textils 42.15 43.25Rit Pro Ind 498.55 519.65Rnb Denims [2] 40.60 40.65Rolexrings 1140.05 1139.75Rossari [2] 1266.80 1245.35Roto Pumps [2] 329.75 366.10Route 1709.30 1696.80Rpel 719.30 714.10Rril [5] 13.49 14.36Rubfi�la Int. [5] 98.95 98.80Rvnl 34.15 33.85Saboo Sodium 21.55 20.40Sadhan Nitr [1] 44.55 43.00Safari Ind. [2] 849.35 872.30Sahya Indu 527.80 552.20SaintGobain 93.90 91.35Samrat Pharm 334.00 337.05Sandur Mang. 2511.15 2454.85Sankhya Info 8.70 8.92Sansera [2] 756.55 748.40Sapphire 1196.40 1193.65Satia [1] 90.00 86.30Sauras.Cem. 71.40 69.00Sawaca Busi 10.65 10.12Sbicard 906.70 908.15Scandent 20.00 19.00Scanstl 33.85 33.00Seacoast 190.95 188.05Seyaind 58.35 58.85Sgrl 299.55 301.65Shantanu She 2.84 2.79Sharika [5] 8.76 8.66Sharp India 65.75 72.30Sharp Inv [1] 2.82 2.96Shil [2] 403.20 413.45Shiv.Bimetal [2] 371.15 366.15ShivCement [2] 35.45 35.25Shivalik [5] 963.80 963.25Shree Global [1] 6.56 6.72Shreeganes 156.85 151.20ShrJagdamb [1] 926.45 918.20Shri Krish 20.84 25.00Shrirampps 90.35 83.40Shyamkam Inv 12.21 12.11Shyammetl 332.10 320.50Sigachi 401.25 397.65Sika Inter. 1035.60 1076.55Simplex Pap 102.65 107.75Simran Farms 180.05 173.85Sinclair Hot [2] 70.75 71.25Singer India [2] 65.75 64.60Sintexplast [1] 12.88 13.45Siptl [1] 1.29 1.32

Sisl 1010.25 1027.85Sjs 361.45 352.30Smcglobal [2] 73.30 72.85Smfi�l [1] 6.87 7.21Smgold 251.00 250.80Smlt 118.45 121.15Smruthiorg 253.20 282.40Snim [1] 20.40 21.40Solara 1000.05 994.65Sonacoms 698.45 712.15Spandana 429.40 426.45Spencer [5] 102.25 99.15Spicejet Ltd 67.30 67.30Sri Digv Cem 73.15 71.25Starhealth 799.00 787.55Starhfl� 89.75 91.15Steel Exch 161.25 161.35Stovekraft 954.20 965.65Sumedha Fisc 25.50 27.90Sumichem 364.25 360.95Sunshield Ch 472.15 493.60Super Crop. [2] 7.16 7.03SuperTanner [1] 7.04 7.39Superb Paper 19.60 19.55Supremex [1] 9.50 9.19Suraj Indus. 154.40 162.10Surat Text. [1] 23.42 22.25Suryoday 147.90 145.70Suvenphar [1] 489.95 480.50Suvidhaa [1] 12.37 11.91Svartcorp [1] 4.46 4.31Svcind 6.57 6.89Svpglob [1] 78.40 76.50Swasti Vinay [1] 6.40 6.52Swordedge [1] 1.10 1.15Swsolar [1] 378.05 381.10Sxetf [250] 601.27 604.92Synco Form. [1] 9.55 9.50Taalent 1759.40 1729.75Taneja Aero. [5] 100.10 105.10Tarc [2] 47.75 48.75Tarsons [2] 635.45 634.45Tata Yodogaw 128.75 122.35Tatia Glob [1] 3.80 3.79Tatva 2504.15 2501.90Tcnsbrands [2] 800.60 789.60Technoe [2] 231.55 229.65Tega 582.25 584.50Tejasnet 416.70 409.80Tgvsl 45.00 45.35Thinkink [5] 40.20 39.85Tiaanc 8.00 7.93Tiger Logs 155.00 162.75Tiindia [1] 1714.50 1707.20Tilak [1] 28.05 26.65

Nilaspaces [1] 3.67 3.85Ptcil 4960.60 5208.60Sctl 1.81 1.90Sportking 1283.85 1320.40

Forbes & Co 5410.35 5520.05Happstmnds [2] 1262.35 1256.20Lloyds Met E [1] 79.35 80.65Nazara [4] 2255.60 2260.55

7Nr 19.35 19.25Bh.Immun&Bio 46.55 45.90Deep 571.95 583.30Easemytrip [2] 522.20 515.30

Timex Group [1] 79.50 78.35Titan Biotec 268.85 265.50Titan Secur. 17.35 17.25Toyamind [1] 3.66 3.84Transpek 2082.90 2114.15Trejhara 88.15 85.00Ttient 46.60 48.90Ttil 6.53 6.85Tutialka 31.60 33.15Udaip Ceme [4] 36.40 36.00Ugrocap 198.45 198.05Ultracab 147.25 162.10Ultramarine [2] 353.85 340.55Unison 66.15 62.85United Drill 394.95 383.70Univphoto 754.10 726.65Ushdev Intnl [1] 5.02 5.20Utiamc 1006.35 1027.65Utique 9.41 9.88Utlinds [1] 6.77 6.44Valiantorg 1014.95 1033.85Varroc [1] 317.95 310.80Vedavaag 54.70 54.00Vertex Sec. [2] 2.85 2.86Vijaya [1] 541.60 533.05Vikas Wsp [1] 3.60 3.56Vikaslife [1] 3.47 3.46Vikasprop [1] 2.00 1.97Virinchi 76.55 87.20Virtual Glo [1] 1.74 1.82Vishal [5] 90.50 89.50Vishwaraj [2] 28.05 29.45Visioncine [1] 2.23 2.12Vivid Ind [5] 25.95 31.10Waareertl 291.00 296.30Waterbase 101.70 100.35Welsplsol [6] 18.20 17.45Wepsoln 27.80 28.35Westlife Dev [2] 556.25 556.35Whiteorg 11.07 11.55Wim Plast Lt 448.35 470.15Wimsome Text 70.55 71.70Windlas [5] 265.10 265.60Winpro [5] 8.86 8.83Winsome Brew 10.29 10.80Xelpmoc 382.20 380.85Xtglobal [1] 40.00 41.50Yamini Inves [1] 1.16 1.21Yasho 1110.00 1094.25Zeal [1] 9.72 9.75Zenith Healt [1] 7.18 7.23Zenotech 61.15 58.70Zomato [1] 133.00 131.45

Group T

PeninsulLand[2] 15.05 15.25PraxisHomeR[5] 40.00 38.95Premier 11.35 11.10Punj.Mohta 23.40 23.70RajOilMills 75.25 74.70RajratnGlbWr 2055.95 1996.05Rajsr.Sug 32.90 34.20RelCapDepSet 13.90 13.65Reliancepowr 13.00 12.75ReliancInfra 93.80 91.95Rohit Ferro 31.95 33.50Royal Orchid 84.30 83.45SabEvents 14.40 15.10SagardpAlloy 44.95 47.15SanginitaChe 25.15 25.15Saregama 4913.30 5083.35SE Power 35.60 37.35SEAMEC 1113.90 1079.90SEJAL GLASS 18.15 19.05Shah Alloy 50.25 48.15ShantOversea 20.60 20.70ShermarooEnt 122.20 121.95ShivamAuto [2] 24.90 26.10Shriram Pist 860.45 874.25SouthwestPin 141.75 141.25SPML Infra [2] 20.40 21.40Std Inds [5] 14.35 14.85Supr.Infra 19.35 19.55SuranaSolar [5] 26.90 28.20TataTel(Mah) 154.10 161.80TemboGlobal 277.00 276.65ThePKTeaProd 294.00 281.00TheWestInPly 50.65 50.15Thom.Scot 51.55 49.00TilakngrInd 91.30 90.85Tips Ind 1627.70 1647.75TRF 132.85 138.25V2 Retail 166.30 159.70VishnuChem 828.80 823.10Wanbury 80.25 79.00WelthFrstPrt 238.00 240.00Wil.Magor 24.80 25.10Xpro India 937.80 936.00ZEEMedCorp[1] 13.20 12.75

Hilton Mtl 21.50 22.30Hind.Mot [5] 11.40 11.40ICDSLTD 46.10 47.10ImagicaWorld 10.80 11.20Ind.Inv.Tru 75.50 76.05Indo Wnd 30.05 31.55InoxWindEner 803.40 786.25InspirisySol 65.60 66.45InterntlCons 22.00 20.90JainDvrEquty[2] 23.00 22.30Jay.Neco 25.00 24.90JBF Ind 19.50 20.40Jind P.Inv 292.15 284.75JITFInfraLog [2] 133.95 128.00JSWEnergy 297.15 302.35Kaly.For 173.95 173.00Kernx.Mic 92.70 97.30Khait.Ind 28.10 29.25Kirl.Elec 22.05 22.50LloydsSteels[1] 14.85 15.55LovableLingr 163.30 160.25MadhucnProj[1] 8.75 9.15MahaApexCorp 94.50 93.75ManglamGlobl 114.25 113.20ManugraphIn[2] 17.70 17.90Mask Invest 40.00 38.00McD.Hld 125.50 131.75Mega Soft 63.40 66.55MEPInfDevlop 18.60 18.55ModiRubber 78.85 78.00Mot.Gen.Fin [5] 30.05 30.75Nah.Spg [5] 495.80 486.90NakodaGroup 266.20 274.45NazarTech 2251.20 2267.70Nelco 740.35 729.20Nitin Spn 241.60 237.90NITIRAJ ENGINE 78.70 78.70OlectrGrntec 803.05 796.10OmkarSplChem 41.65 39.60OnePntOneSol 77.60 79.00OrchidPharma 391.35 393.60PalredTech 226.30 221.05PANSARI DE 128.30 134.70Param.Comn[2] 12.65 12.95

AbanOffsho [2] 46.55 46.35AdaniTtlGas 1752.30 1712.40AdrotInfotec 9.65 10.10Agri Tech 59.00 59.80AkashInfraPr 179.70 180.20AnkitMet&Pow 11.25 11.80Ansal Hsg 10.25 9.75AnsalPro&Inf[5] 12.20 12.10ArchidplyDec 43.70 43.65Arih.Found 39.95 39.95ArtNirman 123.90 117.75ArvindSmrtsp 213.60 207.00Atlanta [2] 18.90 18.55Auto Stamp 491.00 515.55Barak Val 20.00 20.40BLS IntlServ [1] 193.80 192.00BPL 65.70 63.90BrightcomG [2] 195.05 188.50BTRFLYGandhi 1030.85 1082.35Calif.SW 45.60 43.35CantabilRet 715.10 712.65CGPower&S [2] 178.80 178.25Cinevistaas [2] 17.45 17.05CLEducate [5] 107.40 107.40CreativePeri 400.05 411.65CrestVenture 148.90 156.30DB Realty 43.35 45.30DCM 131.40 133.20DCW [2] 39.65 39.50De Nora 457.30 452.30Digicontent [2] 18.05 18.70DishTVIndia [1] 17.50 18.35Donear [2] 61.10 60.80DRCSystemInd 304.35 319.55Ducon Infra [1] 16.05 16.85Dynamatic 2084.95 2076.15EasyTripPlan 518.45 514.60GodhaCarbon 68.80 65.40Gold.Tobac 132.60 127.25Golds.Tech 84.40 88.60GSS Info 122.55 121.00GujartRafInd 36.20 36.50GulshanPoly [1] 272.60 273.95HapiestMinds 1263.15 1259.15

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