Derivatives Note December 31, 2010

Rollover Analysis

Highlights
 Nifty saw a rollover of 61% in Jan series vs 75% in Dec series.
 Market wide rollovers stood flat at ~84.56% compared to 85.49% in the previous series.
 Strong rollovers in Sugar, Infrastructure, Hotels & Capital Goods.
 Weak rollovers in Technology, Textile, Fertilisers & Banking.
 Negative cost of carry seen in Piramal Healthcare, Hero Honda, SAIL & Ambuja Cements.
 Positive cost of carry seen in Lupin, Orbit Corporation, ABG Shipyard & TTML.

Calls based on Rollover Strategy (execute near closing price for a gain of 4-5 %+):
- Long Balrampur Chini Jan Future at Rs90-91, Target Rs100, Stop loss Rs85 (Rollover at
92% & OI addition at 31%).
- Long Indian Hotel Jan Future at Rs95-96, Target Rs105, Stop loss Rs90 (Rollover at 92% &
OI addition of 30%).
- Long Alstom Projects Jan Future at Rs688-685, Target Rs725, Stop loss Rs660 (Rollover at
90% & OI addition at 27%).
- Long SBI Jan 2700 Put at Rs60-62, Target Rs100, Stop loss Rs40 (Rollover at 79% & OI
addition at 37%).

Market Vs Nifty Rollover Nifty Futures for last 1-month

100 Market rollover Nifty Rollover Call OI Put OI Nifty Futs
6.0 6200
90
80 (in mn)
5.0 6100
70
60 4.0 6000
50
40 3.0 5900
30
2.0 5800
20
10 1.0 5700
0
0.0 5600
25Nov
28Oct

30Dec
26Aug

30Sep

5200
5300
5400
5500
5600
5700
5800
5900
6000
6100
6200
6300
6400
6500
6600
6700
6800
6900
7000

Source: Seediff

Strong Rollovers Weak Rollovers

Expiry Expiry
Price Chg Rollover Rollover Price Chg Rollover Rollover
Company LTP % % Cost Company LTP % % Cost
GTOFFSHORE 397 3.4 96.4 1.4 COREPROTEC 300 9.2 26.6 1.4
GTL 426 (0.0) 95.8 1.4 IOB 146 (0.8) 43.4 1.4
BRFL 200 (3.3) 94.8 1.4 SOBHA 323 4.8 51.8 1.4
INDIACEM 106 (1.4) 94.7 2.0 CONCOR 1,266 1.8 57.0 0.4
GMRINFRA 45 (4.1) 94.5 1.7 SCI 131 (9.8) 57.6 1.6
DCHL 109 (6.1) 94.4 1.4 WIPRO 494 20.2 58.5 1.4
TATACOMM 256 (5.2) 93.9 1.4 GAIL 514 5.3 58.9 1.4
RENUKA 100 17.7 93.7 1.6 PFC 307 (4.5) 59.5 1.4
SUZLON 55 16.7 93.6 1.1 ADANIPOWER 131 (5.8) 60.6 1.4
MLL 57 (2.1) 93.5 1.4 JINDALSTEL 725 14.5 60.8 1.4
Source: Seediff
Rollover Analysis

Sector-wise rollovers
95 Last month Current month

90

85

80

75

70

Fertilisers
Transport
Finance

Trading

Technology
Banking
Telecom
Capital Goods
Infrastructure

Media

Others
Automobile

Pharma

Textile
Cement
Hotels

FMCG
Metals
Oil & Gas
Power
Sugar

Realty

Source: Seediff

Derivative Rollover Details

Last Expiry Chg Price Chg till Rollover Rollover
Company Sector LTP Price Price Expiry % Rollovers % Cost
3IINFOTECH Technology 59 60 (1.1) (1.8) 5,208,000 88.5 1.45
ABAN Capital Goods 814 733 81.2 11.1 2,022,750 84.0 1.09
ABB Capital Goods 779 794 (14.5) (1.8) 820,250 83.9 1.39
ABGSHIP Transport 407 436 (29.4) (6.7) 2,997,000 90.2 2.24
ABIRLANUVO Textile 836 756 80.3 10.6 1,100,000 87.9 1.39
ACC Cement 1,069 1,005 64.6 6.4 1,366,500 71.8 1.39
ADANIENT Trading 649 712 (62.6) (8.8) 955,500 75.8 1.39
ADANIPOWER Power 131 139 (8.1) (5.8) 1,932,000 60.6 1.41
ALBK Banking 225 244 (18.3) (7.5) 764,000 62.8 0.78
ALOKTEXT Textile 27 29 (3.0) (10.0) 50,120,000 78.0 1.33
AMBUJACEM Cement 143 139 4.0 2.8 9,692,000 75.9 (0.28)
ANDHRABANK Banking 150 164 (14.6) (8.9) 2,434,000 73.5 1.75
APIL Capital Goods 687 646 41.3 6.4 492,000 90.7 1.39
APOLLOTYRE Automobile 66 68 (1.1) (1.6) 17,632,000 88.9 1.44
AREVAT&D Power 322 295 27.3 9.2 982,000 81.9 1.39
ASHOKLEY Automobile 63 74 (10.7) (14.6) 18,976,000 87.0 1.77
ASIANPAINT FMCG 2,849 2,551 298.6 11.7 85,625 82.5 1.39
AUROPHARMA Pharma 1,309 1,208 100.6 8.3 575,000 88.5 1.39
AXISBANK Banking 1,339 1,355 (16.2) (1.2) 1,932,000 70.3 0.94
BAJAJ-AUTO Automobile 1,489 1,633 (144.2) (8.8) 1,381,000 82.2 1.39
BAJAJHIND Sugar 123 114 8.6 7.6 11,552,000 84.2 1.22
BAJAJHLDNG Finance 873 871 2.3 0.3 122,000 81.6 1.39
BALRAMCHIN Sugar 90 77 13.1 16.9 20,016,000 92.5 1.39
BANKBARODA Banking 897 905 (7.8) (0.9) 933,750 74.4 1.39
BANKINDIA Banking 437 423 13.9 3.3 1,763,500 76.0 0.77
BANKNIFTY Index 11,680 11,755 (74.6) (0.6) 1,420,725 75.7 0.59
BATAINDIA Textile 367 362 5.0 1.4 143,000 76.1 1.39
BEL Capital Goods 1,763 1,724 38.7 2.2 76,000 74.0 1.39
BEML Capital Goods 1,008 1,046 (38.5) (3.7) 126,750 87.1 1.39
BGRENERGY Capital Goods 725 653 72.6 11.1 441,250 86.3 1.39
BHARATFORG Automobile 377 365 11.9 3.3 5,408,000 90.1 1.39
BHARTIARTL Telecom 358 339 19.3 5.7 7,594,000 63.1 0.92
BHEL Capital Goods 2,354 2,169 185.5 8.6 2,005,750 84.7 0.64
BHUSANSTL Metals 470 456 13.8 3.0 957,000 76.1 1.39
BIOCON Pharma 421 387 33.8 8.7 2,973,000 90.5 1.39
BOMDYEING Textile 522 531 (8.9) (1.7) 595,500 78.5 1.39

Derivatives Note 2
Rollover Analysis

Last Expiry Chg Price Chg till Rollover Rollover

Company Sector LTP Price Price Expiry % Rollovers % Cost
BOSCHLTD Automobile 6,324 6,292 32.1 0.5 13,375 67.3 1.39
BPCL Oil & Gas 663 674 (10.6) (1.6) 2,033,000 73.7 1.39
BRFL Textile 200 207 (6.9) (3.3) 5,277,000 94.8 1.38
CAIRN Oil & Gas 337 316 20.9 6.6 11,176,000 84.8 1.17
CANBK Banking 652 690 (37.9) (5.5) 1,207,000 68.9 1.47
CENTRALBK Banking 175 209 (34.4) (16.5) 2,655,000 86.7 1.39
CENTURYTEX Cement 420 442 (22.1) (5.0) 4,940,500 93.0 1.51
CESC Power 365 360 5.0 1.4 1,002,000 85.6 1.40
CHAMBLFERT Fertilisers 89 88 0.5 0.6 11,608,000 77.2 1.42
CHENNPETRO Oil & Gas 249 227 22.2 9.8 384,000 82.8 1.39
CIPLA Pharma 371 338 33.3 9.8 3,520,000 77.5 1.07
CNXIT Index 7,523 6,666 856.2 12.8 30,100 68.7 1.39
COLPAL FMCG 875 861 13.5 1.6 115,250 79.4 1.39
CONCOR Transport 1,266 1,243 23.0 1.8 15,250 57.0 0.42
COREPROTEC Technology 300 275 25.3 9.2 3,072,000 26.6 1.39
CROMPGREAV Capital Goods 309 339 (30.3) (8.9) 1,370,000 75.9 1.21
CUMMINSIND Capital Goods 777 766 11.4 1.5 200,500 72.0 1.39
DABUR FMCG 101 95 5.6 5.9 3,274,000 88.2 1.35
DCB Banking 57 60 (3.2) (5.3) 6,164,000 80.6 1.42
DCHL Media 109 116 (7.1) (6.1) 6,184,000 94.4 1.38
DENABANK Banking 113 127 (14.6) (11.4) 8,610,000 83.5 1.97
DISHTV Media 72 68 3.4 4.9 12,508,000 83.3 0.70
DIVISLAB Pharma 653 623 29.4 4.7 839,000 86.6 1.39
DLF Realty 289 295 (5.7) (1.9) 12,569,000 84.8 1.30
DRREDDY Pharma 1,685 1,785 (99.3) (5.6) 1,259,000 81.2 1.39
EDUCOMP Technology 532 551 (19.7) (3.6) 3,043,000 85.3 0.96
EKC Oil & Gas 95 105 (9.7) (9.2) 5,896,000 92.3 1.43
ESCORTS Automobile 172 217 (45.2) (20.8) 2,418,000 78.6 1.41
ESSAROIL Oil & Gas 138 129 9.2 7.2 12,402,000 85.3 1.83
EXIDEIND Automobile 170 157 12.7 8.0 998,000 64.1 1.39
FEDERALBNK Banking 397 439 (41.9) (9.6) 1,292,000 86.0 1.39
FINANTECH Technology 905 878 26.6 3.0 1,263,000 79.7 1.46
FORTIS Pharma 146 152 (6.2) (4.1) 6,702,000 91.6 2.01
FSL Technology 25 23 2.0 8.8 33,864,000 86.9 1.01
GAIL Oil & Gas 514 488 25.8 5.3 1,171,000 58.9 1.39
GESHIP Transport 341 377 (35.3) (9.4) 579,000 74.4 1.39
GLAXO Pharma 2,335 2,119 215.5 10.2 236,000 91.4 1.39
GMDCLTD Metals 142 136 5.3 3.9 1,660,000 81.0 1.39
GMRINFRA Infrastructure 45 47 (2.0) (4.1) 53,000,000 94.5 1.67
GODREJIND FMCG 185 183 2.8 1.6 3,772,000 90.7 1.80
GRASIM Cement 2,340 2,190 150.0 6.8 380,000 92.9 1.29
GSPL Oil & Gas 118 107 10.1 9.4 6,780,000 90.1 1.41
GTL Telecom 426 427 (0.1) (0.0) 6,303,000 95.8 1.40
GTLINFRA Telecom 44 46 (2.1) (4.5) 54,936,000 89.7 1.38
GTOFFSHORE Transport 397 383 13.2 3.4 2,018,000 96.4 1.39
GVKPIL Infrastructure 40 43 (2.5) (5.8) 21,224,000 90.7 1.38
HAVELLS Others 396 377 19.0 5.0 257,500 80.2 1.39
HCC Infrastructure 49 50 (1.3) (2.6) 23,284,000 87.3 2.07
HCLTECH Technology 462 390 72.6 18.6 1,055,000 68.4 1.39
HDFC Finance 731 699 32.2 4.6 5,841,500 71.2 0.62
HDFCBANK Banking 2,315 2,338 (22.7) (1.0) 1,762,250 69.8 0.63
HDIL Realty 190 187 2.7 1.4 17,299,000 91.9 1.41
HEROHONDA Automobile 1,987 1,941 45.5 2.3 2,260,375 77.1 (1.05)
HEXAWARE Technology 117 88 28.6 32.4 6,104,000 74.4 1.41

Derivatives Note 3
Rollover Analysis

Last Expiry Chg Price Chg till Rollover Rollover

Company Sector LTP Price Price Expiry % Rollovers % Cost
HINDALCO Metals 246 205 40.7 19.8 14,266,000 77.8 0.82
HINDOILEXP Oil & Gas 238 227 11.3 5.0 3,393,000 87.3 1.40
HINDPETRO Oil & Gas 391 416 (24.8) (6.0) 12,140,500 89.6 1.13
HINDUNILVR FMCG 310 299 11.3 3.8 11,301,000 87.3 1.39
HINDZINC Metals 1,352 1,153 199.3 17.3 236,750 86.8 1.39
HOTELEELA Hotels 46 44 1.9 4.2 5,168,000 85.3 1.75
IBREALEST Realty 133 156 (23.1) (14.8) 30,214,000 90.4 1.13
ICICIBANK Banking 1,139 1,126 13.1 1.2 8,017,500 73.8 0.33
IDBI Banking 162 167 (5.6) (3.4) 23,066,000 86.5 1.68
IDEA Telecom 68 69 (1.0) (1.4) 15,840,000 77.9 0.44
IDFC Finance 179 184 (4.6) (2.5) 18,420,000 77.6 1.12
IFCI Finance 66 64 1.3 1.9 63,828,000 90.2 1.38
IGL Oil & Gas 337 317 19.8 6.2 124,000 62.0 1.39
INDHOTEL Hotels 95 92 3.5 3.8 10,538,000 92.3 1.38
INDIACEM Cement 106 107 (1.6) (1.4) 11,556,000 94.7 2.01
INDIAINFO Finance 84 92 (8.7) (9.4) 10,202,000 92.3 1.38
INDIANB Banking 247 274 (26.8) (9.8) 1,129,000 88.1 1.39
INDUSINDBK Banking 265 287 (21.9) (7.6) 3,306,000 82.6 1.39
INFOSYSTCH Technology 3,457 3,083 373.8 12.1 2,600,500 76.3 0.53
IOB Banking 146 148 (1.2) (0.8) 1,282,000 43.4 1.41
IOC Oil & Gas 340 340 0.1 0.0 4,804,500 84.2 1.85
IRB Infrastructure 227 206 20.8 10.1 1,237,000 87.4 1.18
ISPATIND Metals 24 17 6.4 36.6 63,810,000 86.1 1.49
ITC FMCG 175 171 4.0 2.3 14,390,000 61.0 1.09
IVRCLINFRA Infrastructure 127 133 (5.5) (4.1) 5,724,000 88.3 1.71
JETAIRWAYS Transport 737 870 (133.2) (15.3) 1,148,500 79.7 1.39
JINDALSAW Infrastructure 181.55 184.65 -3.1 (1.7) 3150000 80.87 0.74
JINDALSTEL Metals 725 634 91.6 14.5 2,165,500 60.8 1.39
JINDALSWHL Finance 1,431 1,554 (122.6) (7.9) 696,125 89.2 0.86
JISLJALEQS Others 209 229 (19.9) (8.7) 943,750 84.2 1.40
JPASSOCIAT Cement 104 116 (12.1) (10.4) 41,318,000 88.8 1.55
JPPOWER Power 52 54 (1.9) (3.5) 8,704,000 91.3 1.46
JSWSTEEL Metals 1,183 1,201 (18.0) (1.5) 2,315,000 78.6 0.85
KFA Transport 65 71 (6.7) (9.4) 13,920,000 90.5 1.41
KOTAKBANK Banking 449 463 (14.1) (3.0) 2,518,000 76.3 1.40
KSOILS FMCG 48 50 (1.7) (3.4) 16,440,000 90.0 1.69
KTKBANK Banking 162 169 (7.5) (4.4) 2,678,000 85.0 1.40
LICHSGFIN Finance 195 1,064 (868.9) (81.6) 16,290,000 85.1 1.65
LITL Infrastructure 63 64 (0.6) (0.9) 8,640,000 79.6 1.44
LT Capital Goods 1,989 1,947 41.1 2.1 2,459,500 77.8 0.99
LUPIN Pharma 478 500 (21.8) (4.4) 2,430,000 75.6 3.00
M&M Automobile 782 785 (3.0) (0.4) 3,920,500 79.1 1.28
MARUTI Automobile 1,422 1,389 32.7 2.4 1,681,750 82.1 1.39
MAX Pharma 147 157 (10.6) (6.7) 1,492,000 85.3 1.41
MCDOWELL-N FMCG 1,469 1,399 70.3 5.0 1,015,250 84.3 1.39
MCLEODRUSS FMCG 219 234 (14.8) (6.3) 6,069,000 90.5 0.81
MINIFTY Index 6,131 5,849 281.9 4.8 718,140 60.8 0.91
MLL Transport 57 58 (1.2) (2.1) 14,684,000 93.5 1.41
MOSERBAER Technology 62 57 4.8 8.4 5,180,000 87.1 1.70
MPHASIS Technology 678 584 94.5 16.2 989,500 82.5 1.39
MRF Automobile 7,251 8,086 (835.0) (10.3) 33,000 79.3 1.39
MRPL Oil & Gas 72 73 (0.6) (0.8) 12,416,000 90.0 1.40
MTNL Telecom 54 56 (1.9) (3.4) 25,008,000 92.5 1.69
MUNDRAPORT Trading 143 141 1.7 1.2 3,838,000 86.1 1.41

Derivatives Note 4
Rollover Analysis

Last Expiry Chg Price Chg till Rollover Rollover

Company Sector LTP Price Price Expiry % Rollovers % Cost
NAGARCONST Infrastructure 139 129 9.7 7.5 3,648,000 88.6 1.60
NAGARFERT Fertilisers 34 32 2.1 6.4 25,240,000 82.6 1.63
NATIONALUM Metals 383 360 22.5 6.2 833,500 87.5 1.39
NEYVELILIG Power 132 134 (2.1) (1.6) 2,752,000 86.0 1.41
NFTYMCAP50 Index 2,908 2,951 (42.7) (1.4) 450 75.0 1.39
NHPC Power 28 29 (0.4) (1.4) 77,440,000 92.4 1.79
NIFTY Index 6,131 5,848 282.7 4.8 19,725,500 61.2 0.88
NMDC Metals 276 243 33.5 13.8 749,000 66.1 1.39
NTPC Power 204 179 24.7 13.8 12,784,000 70.9 1.09
OFSS Technology 2,325 2,108 217.1 10.3 291,500 90.7 1.39
OIL Oil & Gas 1,397 1,399 (2.3) (0.2) 37,500 82.4 1.39
ONGC Oil & Gas 1,304 1,227 76.8 6.3 1,877,750 77.7 0.97
ONMOBILE Telecom 291 260 31.5 12.1 621,000 78.8 1.21
OPTOCIRCUI Pharma 263 276 (13.1) (4.7) 1,078,000 87.9 1.40
ORBITCORP Realty 76 81 (5.0) (6.1) 6,372,000 87.6 2.44
ORCHIDCHEM Pharma 294 309 (15.2) (4.9) 6,650,000 91.5 1.11
ORIENTBANK Banking 398 420 (21.8) (5.2) 1,246,000 73.3 1.39
PANTALOONR Textile 367 405 (38.5) (9.5) 3,873,000 87.8 1.39
PATELENG Infrastructure 306 332 (25.9) (7.8) 1,116,000 88.2 1.39
PATNI Technology 477 457 19.9 4.3 2,062,000 92.4 1.40
PETRONET Oil & Gas 125 115 10.3 9.0 3,652,000 82.9 1.41
PFC Finance 307 321 (14.4) (4.5) 649,000 59.5 1.40
PIRHEALTH Pharma 469 439 30.1 6.8 3,223,000 80.1 (5.26)
PNB Banking 1,225 1,194 31.1 2.6 1,232,250 73.2 1.39
POLARIS Technology 177 152 24.9 16.3 3,084,000 87.6 1.40
POWERGRID Power 97 98 (0.3) (0.3) 34,920,000 75.3 1.14
PRAJIND Capital Goods 86 72 13.9 19.2 17,928,000 89.8 1.40
PTC Power 126 117 8.6 7.3 2,946,000 91.2 1.39
PUNJLLOYD Capital Goods 108 107 1.0 0.9 21,606,000 92.3 1.63
RANBAXY Pharma 592 552 39.8 7.2 2,214,500 73.8 1.04
RCOM Telecom 139 138 1.3 0.9 30,992,000 90.2 1.37
RECLTD Power 296.45 327.35 -30.9 (9.4) 5618000 86.22 0.81
RELCAPITAL Finance 660 667 (7.4) (1.1) 6,920,500 76.8 1.09
RELIANCE Oil & Gas 1,059 990 69.1 7.0 14,814,250 82.3 1.43
RELINFRA Power 815 915 (99.8) (10.9) 7,572,500 92.7 1.59
RELMEDIA Media 222 227 (4.6) (2.0) 2,695,000 87.0 1.39
RENUKA Sugar 100 85 15.1 17.7 47,052,000 93.7 1.56
ROLTA Technology 154 168 (14.1) (8.4) 3,360,000 82.4 1.41
RPOWER Power 155 160 (4.8) (3.0) 21,742,000 83.4 1.13
RUCHISOYA FMCG 121 119 2.1 1.7 18,476,000 83.9 1.40
SAIL Metals 181 170 11.0 6.4 7,896,000 78.5 (0.94)
SBIN Banking 2,771 2,848 (77.8) (2.7) 4,250,125 79.4 0.71
SCI Transport 131 145 (14.2) (9.8) 6,830,000 57.6 1.58
SESAGOA Metals 327 319 7.9 2.5 11,388,000 87.2 0.92
SIEMENS Capital Goods 809 759 50.1 6.6 848,000 73.5 1.39
SINTEX Others 182 205 (23.4) (11.4) 2,442,000 69.9 1.38
SKUMARSYNF Textile 85 91 (6.4) (6.9) 5,204,000 74.0 1.42
SOBHA Realty 323 308 14.7 4.8 174,000 51.8 1.38
SREINFRA Finance 111 116 (4.9) (4.3) 3,026,000 88.6 1.40
SRTRANSFIN Finance 783 779 3.4 0.4 204,500 83.1 1.39
STER Metals 190 168 21.7 12.9 14,664,000 69.5 1.30
STERLINBIO Pharma 102 105 (3.1) (2.9) 3,052,000 81.2 1.39

Derivatives Note 5
Rollover Analysis

Last Expiry Chg Price Chg till Rollover Rollover

Company Sector LTP Price Price Expiry % Rollovers % Cost
STRTECH Others 75 81 (6.6) (8.1) 2,976,000 75.2 1.48
SUNPHARMA Pharma 485 459 25.6 5.6 1,598,750 77.4 1.27
SUNTV Media 528 493 35.2 7.1 117,000 62.2 1.39
SUZLON Power 55 47 7.9 16.7 82,624,000 93.6 1.10
SYNDIBANK Banking 125 129 (4.1) (3.1) 3,606,000 81.0 1.57
TATACHEM Fertilisers 392 358 34.1 9.5 1,280,000 87.6 1.39
TATACOMM Telecom 256 270 (14.2) (5.2) 2,046,000 93.9 1.40
TATAGLOBAL FMCG 108 111 (2.3) (2.1) 7,206,000 80.8 1.40
TATAMOTORS Automobile 1,296 1,218 78.1 6.4 9,003,500 80.3 (0.20)
TATAMTRDVR Automobile 780 801 (21.7) (2.7) 2,067,250 82.5 1.80
TATAPOWER Power 1,370 1,286 83.3 6.5 673,500 73.3 1.39
TATASTEEL Metals 675 608 67.2 11.0 15,669,500 85.4 0.59
TCS Technology 1,178 1,033 144.9 14.0 3,116,250 68.8 1.26
TECHM Technology 706 632 74.6 11.8 976,500 88.7 1.89
TITAN FMCG 3,560 3,716 (156.0) (4.2) 524,500 83.8 1.54
TRIVENI Sugar 113 102 11.3 11.1 3,254,000 90.1 1.38
TTML Telecom 19 19 (0.2) (1.0) 31,230,000 90.2 2.11
TULIP Telecom 174 176 (1.6) (0.9) 1,852,000 80.9 1.39
TV-18 Media 72 76 (3.5) (4.6) 4,540,000 77.8 1.40
TVSMOTOR Automobile 70 84 (14.3) (17.0) 6,820,000 81.4 1.59
UCOBANK Banking 114 142 (28.0) (19.7) 22,612,000 88.1 1.95
ULTRACEMCO Cement 1,074 1,143 (68.9) (6.0) 679,000 80.4 1.39
UNIONBANK Banking 341 345 (4.0) (1.2) 1,431,000 63.8 1.40
UNIPHOS Fertilisers 174 185 (11.7) (6.3) 5,422,000 70.7 1.66
UNITECH Realty 65 63 1.5 2.3 43,444,000 84.8 0.85
VIDEOIND FMCG 217 226 (8.3) (3.7) 8,375,000 86.1 1.62
VIJAYABANK Banking 97 100 (2.4) (2.5) 9,556,000 74.4 1.82
VOLTAS Capital Goods 217 242 (24.7) (10.2) 1,363,000 84.2 1.40
WELCORP Metals 165 230 (64.5) (28.1) 10,670,000 86.4 1.50
WIPRO Technology 494 411 83.1 20.2 2,861,000 58.5 1.39
YESBANK Banking 311 308 2.4 0.8 3,814,000 85.9 1.39
ZEEL Media 145 142 2.8 2.0 6,066,000 81.0 1.38
Source: Seediff

Derivatives Note 6
Published in 2010. © India Infoline Ltd 2010

This report is for the personal information of the authorised recipient and is not for public distribution and should not be reproduced or redistributed
without prior permission.

The information provided in the document is from publicly available data and other sources, which we believe, are reliable. Efforts are made to try
and ensure accuracy of data however, India Infoline and/or any of its affiliates and/or employees shall not be liable for loss or damage that may
arise from use of this document. India Infoline and/or any of its affiliates and/or employees may or may not hold positions in any of the securities
mentioned in the document.

The report also includes analysis and views expressed by our research team. The report is purely for information purposes and does not construe to
be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The opinions expressed are our current
opinions as of the date appearing in the material and may be subject to change from time to time without notice.

Investors should not solely rely on the information contained in this document and must make investment decisions based on their own investment
objectives, risk profile and financial position. The recipients of this material should take their own professional advice before acting on this
information.

India Infoline and/or its affiliate companies may deal in the securities mentioned herein as a broker or for any other transaction as a Market Maker,
Investment Advisor, etc. to the issuer company or its connected persons.

This report is published by IIFL ‘India Private Clients’ research desk. IIFL has other business units with independent research teams separated by
'Chinese walls' catering to different sets of customers having varying objectives, risk profiles, investment horizon, etc and therefore, may at times
have, different and contrary views on stocks, sectors and markets.

IIFL, IIFL Centre, Kamala City, Senapati Bapat Marg, Lower Parel (W), Mumbai 400 013.

For Research related queries, write to: Amar Ambani at amar@indiainfoline.com or research@indiainfoline.com
For Sales and Account related information, write to customer care: info@5pmail.com or call on 91-44 4007 1000