The Equity Desk Report Card

Message

   Company             Recm    Recm  Current    Gain (Loss)
                                      Date          Price    Price           Absolute %
Educomp                  11-Aug-06  382       956               150.26

 IndiaBulls                      13-Nov-06   285       660               131.57
 TV 18***                     20-Jul-06      571      1299                    127.67
ICICI Bank                  20-Jul-06   467       892                 91.01
Pantaloon Retail       26-Jul-06   225       408                 81.33
Everest Kanto              8-Sep-06    400      718                 79.50
Mc Dowell                    18-Jul-06    490       864                76.33
Bharti  Airtel                 24-Aug-06  407       630                54.79
Jain Irrigation               13-Aug-06  249       383                53.82
HDFC Bank                 20-Jul-06   697       1068               53.23
Yes Bank                       1-Sep-06    89         135                51.69
Nitco Tiles                      28-Aug-06  169       254                50.30
Rain Commodities       10-Aug-06  114       170                 49.12
Aditya Birla Nuvo       10-Sep-06  836       1243               48.68
Crisil                               2-Aug-06    1550     2252              45.29
Financial Tech            26-Aug-06  1252     1776              41.85
ENIL                              23-Jul-06   186       263                41.40

  Infosys                           19-Jul-06 1612      2243               39.15
  Blue Star                        6-Oct-06    137       188                 37.23
Indian Hotels                  7-Aug-06    116       154                 32.76
Havells                           30-Aug-06  285       373                 30.88
HDFC                             5-Aug-06   1245     1626                30.60
Maharashtra Seamless 22-Aug-06  365       466                  27.67
Gitanjali Gems               16-Aug-06  170       213                  25.29
Trent                                2-Aug-06   715       888                 24.20
Morgan Stanley               19-Aug-06  34.7      43.05              24.06
Inox Leisure                     2-Aug-06    125       148                 18.40
Amarraja Batteries         15-Aug-06  332       388                 16.87
Vimta Laboratories         3-Sep-06    159       185                16.35
Tata Investments             8-Aug-06    337       385                 14.24
Shanti Gears                   20-Sep-06  64         73                   14.06
L&T                                  6-Sep-06    1278     1445                13.07
Lloyd Electric                  9-Aug-06    138       154                 11.59
Prithvi Information           2-Sep-06    327       362                  10.70
Bharti Shipyard               17-Sep-06  337       372                  10.39
Rayban Sun Optics         6-Aug-06    87         96                   10.34
Suzlon Energy              28-Aug-06  1213     1304                  7.50
Zicom ELectronics         16-Aug-06  185       192                    3.78
Monsanto                         21-Sep-06  1488     1480                   -0.54
Indraprastha Gas            1-Sep-06    117       116                   -0.85
Kohinoor Foods              30-Aug-06   78         70                  -10.26
  Nilkamal Plastics            11-Aug-06  173       155                  -10.40
  PVR                                    Oct 01-06   255       230                -10.00

Viceroy Hotels                    14-Nov-06   102        90                 -11.76

*** I have assumed the listing price of Network 18 to be in the range of Rs 400 – 420 which going by the present price of Tv18 looks very much possible.

The last quarter saw very few ideas. Generally I believe that there should not be more then 40 – 50 ideas to discuss, Buffet talks about 6 ideas and I have observed that this is all one needs to make a difference. Many people came up with an observation that we have stopped discussing newer stocks and I thought that it is better to start a  discussion on a new company only when there is a compelling case for one. In hindsight it is better to own  a single stock from the above list (Educomp) rather then dilute it with Nilkamal Plastics or Zicom. By the way we are removing Nilkamal from this section since the story seems difficult to unfurl.

Our The Equity Desk XI vs. Indian XI. have done exceedingly well mostly aided by the tailwind that blows fast and furious. The stocks in bold and blue are members of our cricket XI (along with the super sub). Trent is under the hammer and we need to observe that closely and see if it steps on the gas or else we may replace with some other company.

Regards,

Basant

Edited by basant - 24/Mar/2007 at 9:58pm