ETIG's 100 Fastest Growing Companies

	3-Year CAGR (%)		3-Year Average
Company	Net Sales	PAT	RoCE (%)	ICR*	FY08 Net Sales (Rs Cr)	FY08 PAT (Rs Cr)	M-Cap** (Rs Cr)	Sector
ICSA (India)	214.8	210.0	67.8	132.7	670.7	111.1	1,305.2	Infotech
Allied Digital Services	79.2	211.6	62.8	103.5	297.4	43.6	1,239.2	Infotech
Prime Property Devp Corp	86.4	185.3	48.1	394.7	105.4	32.5	120.2	Real Estate
Resurgere Mines & Minerals	81.0	561.4	100.2	32.8	403.0	66.6	733.5	Mining & Minerals
Sharon Bio-Medicine	93.3	254.2	30.8	747.8	171.0	17.8	101.7	Pharmaceuticals
Tanla Solutions	173.8	189.8	51.1	15.8	459.8	166.5	1,906.9	Infotech
Northgate Technologies	102.1	110.9	31.0	1,141.4	551.3	72.9	904.9	Infotech
Venus Remedies	84.4	117.5	43.2	59.5	213.6	42.2	316.9	Pharmaceuticals
Geodesic	98.9	98.2	31.1	1,027.3	316.4	148.6	1,511.5	Infotech
Info Edge (India)	70.6	451.8	60.4	11.4	218.9	55.5	2,056.7	Entertainment & Media
Omnitech Infosolutions	41.6	192.3	39.3	19.6	132.0	25.5	154.1	Infotech
Glodyne Technoserve	65.0	99.3	44.1	16.2	307.9	40.6	680.6	Infotech
Dhanuka Agritech	65.8	70.9	38.4	47.0	248.2	16.9	159.1	Pesticides & Agrochemicals
Vakrangee Softwares	87.4	159.9	26.8	40.5	223.9	49.7	386.4	Infotech
Prajay Engineers Syndicate	145.5	184.9	30.3	12.2	344.0	102.9	190.9	Real Estate
Esab India	22.2	38.0	107.4	586.7	343.0	53.6	653.3	Electrodes
Easun Reyrolle	56.1	92.0	39.1	17.4	194.9	25.3	179.2	Capital Goods
KLG Systel	95.5	174.7	23.2	35.2	273.0	52.6	409.6	Infotech
Eclerx Services	66.1	58.4	172.1	10.5	121.7	44.6	316.4	Infotech
Techno Electric & Engg	55.1	115.5	53.2	9.0	429.6	49.1	708.3	Construction
KCP	35.9	71.1	34.7	119.0	508.1	80.2	326.9	Cement & Cement Products
3M India	33.4	38.4	40.1	269.4	610.6	67.7	1,751.5	Trading
Kewal Kiran Clothing	82.8	78.4	34.9	15.0	159.6	21.1	216.7	Textiles
Himadri Chemicals & Inds	34.7	143.4	26.8	100.3	363.3	82.9	1,073.0	Mining & Minerals
Micro Technologies (India)	91.0	98.5	25.1	34.3	186.7	54.9	214.8	Infotech
Titagarh Wagons	72.8	102.3	43.5	7.7	559.6	60.6	1,252.6	Miscellaneous
Aurionpro Solutions	156.3	123.2	18.9	44.1	176.1	30.9	384.2	Infotech
Kirloskar Pneumatic	15.1	178.5	33.2	63.3	402.8	30.5	459.9	Capital Goods
Action Construction Equipment	66.7	98.1	49.9	7.4	406.4	34.0	531.5	Capital Goods
Deccan Cements	23.4	107.9	30.3	265.9	209.2	48.0	143.3	Cement & Cement Products
Paramount Communications	89.8	259.3	31.0	7.0	679.4	63.5	147.3	Cables
Karuturi Global	199.2	157.7	23.1	15.6	401.0	102.0	738.1	Floriculture & Horticulture
Gujarat Apollo Inds	58.4	104.3	25.5	38.6	249.6	45.1	174.9	Capital Goods
Page Industries	37.1	77.8	55.7	12.1	192.4	23.8	482.5	Textiles
Bharat Bijlee	31.8	37.7	65.6	25.9	562.4	72.5	724.6	Capital Goods
Balaji Telefilms	24.4	32.3	39.6	386.2	378.4	95.6	1,023.0	Entertainment & Media
Sagar Cements	53.0	125.6	31.5	9.9	223.1	33.0	453.3	Cement & Cement Products
Voltamp Transformers	47.1	74.8	70.5	7.3	555.4	79.9	763.3	Capital Goods
Nesco	54.6	80.7	107.7	5.7	105.4	36.7	627.5	Diversified
Nucleus Software Exports	40.9	43.8	36.8	31.6	288.7	61.7	477.1	Infotech
Aries Agro	38.8	130.9	37.6	9.0	103.4	13.2	145.0	Fertilisers
Hind Rectifiers	25.2	57.3	56.5	16.0	102.0	12.3	104.4	Consumer Durables
Torrent Cables	20.2	26.7	56.4	57.8	218.9	30.3	103.3	Cables
KNR Constructions	78.2	87.7	23.1	25.1	543.9	30.7	174.8	Construction
Om Metals Infraprojects	38.8	77.9	23.7	78.0	120.9	18.3	220.9	Steel
Maithan Alloys	31.2	25.1	33.3	132.4	378.4	39.2	259.8	Ferro Alloys
FCS Software Solutions	34.0	51.8	26.5	202.0	204.2	32.4	103.6	Infotech
Indo Tech Transformers	41.2	70.7	44.4	8.9	189.9	39.0	369.3	Capital Goods
Bilpower	80.1	80.1	27.3	11.4	344.9	24.2	166.5	Steel
Grindwell Norton	18.4	65.9	35.3	52.7	440.8	133.4	536.5	Abrasives
DS Kulkarni Developers	135.8	120.0	15.2	18.3	459.4	39.2	179.3	Real Estate
IFGL Refractories	49.6	33.6	28.1	33.9	378.0	28.5	166.5	Refractories
Autoline Industries	70.8	155.1	19.7	14.4	341.3	30.2	177.0	Auto Ancillaries
Manugraph India	37.8	26.0	48.3	12.1	648.4	59.1	249.5	Capital Goods
Prime Focus	93.7	51.8	30.5	7.8	227.4	28.8	526.0	Entertainment & Media
Ganesh Housing Corp	104.5	115.9	24.1	6.4	127.4	106.0	540.2	Real Estate
Automotive Axles	33.4	33.3	48.3	10.6	611.7	53.6	405.2	Auto Ancillaries
Brigade Enterprises	41.4	73.3	33.4	8.2	460.7	102.0	1,296.4	Real Estate
Banco Products (India)	30.0	59.3	28.4	30.3	298.9	43.3	223.0	Auto Ancillaries
TRF	30.7	115.7	42.1	5.8	446.3	39.7	361.9	Capital Goods
Oriental Hotels	21.8	41.5	24.2	510.9	245.5	53.1	406.7	Hospitality
Lloyd Electric & Engineering	39.3	75.9	17.1	64.7	668.2	60.4	220.8	Consumer Durables
Madras Aluminium Co	16.1	20.6	36.3	77.7	474.4	65.3	1,631.9	Metals
Tata Elxsi	29.3	26.2	64.4	9.4	402.0	52.9	467.7	Infotech
Kennametal India	16.6	19.4	38.4	55.4	357.2	42.3	518.4	Capital Goods
Texmaco	45.3	64.0	31.3	7.8	699.8	69.1	1,221.3	Capital Goods
Elgi Equipments	20.9	25.1	30.5	63.8	504.0	41.9	362.3	Capital Goods
Kavveri Telecom Products	104.1	124.7	20.5	6.0	157.9	12.4	108.9	Telecom Equipments
Hindustan Dorr-Oliver	54.0	173.4	20.3	8.5	306.0	22.9	324.2	Capital Goods
Zenith Infotech	62.9	118.7	22.2	7.6	130.7	40.2	328.5	Infotech
Panoramic Universal	93.6	73.0	15.5	15.6	131.9	33.8	314.8	Hospitality
Gemini Communication	49.3	80.4	30.2	6.3	236.1	27.5	319.8	Telecom Equipment
Emami	41.2	45.6	40.5	5.4	618.0	90.2	1,752.3	FMCG
Zandu Pharmaceutical Works	18.9	21.9	32.0	27.4	168.8	16.5	1,342.0	Pharmaceuticals
Ahmednagar Forgings	53.9	62.6	27.9	6.4	600.0	65.9	290.9	Casting & Forging
Shanthi Gears	26.1	32.2	27.9	22.2	244.1	44.2	591.2	Capital Goods
Gwalior Chemical Inds	29.4	23.9	20.2	333.0	294.9	25.0	210.0	Chemicals
Sarda Energy & Minerals	40.1	88.5	19.0	13.0	624.8	121.4	784.7	Steel
Ferro Alloys Corp	26.4	101.5	34.3	5.1	312.6	49.3	355.4	Ferro Alloys
Cranes Software Int'l	34.2	35.7	18.3	53.7	395.2	115.0	1,303.1	Infotech
Walchandnagar Industries	45.8	107.3	26.8	5.1	634.3	35.6	772.9	Capital Goods
Taj G V K Hotels & Resorts	30.6	47.2	38.9	6.0	257.5	70.4	530.1	Hospitality
Repro India	20.7	51.6	16.8	132.6	152.5	15.6	139.9	Office Equipment & Stationary
Jindal Drilling & Inds	60.0	27.1	20.3	14.6	412.8	18.4	1,570.5	Oil & Gas
Infotech Enterprises	37.9	46.2	21.6	11.7	674.1	85.6	1,161.6	Infotech
Aegis Logistics	47.8	43.2	28.7	5.4	389.3	38.4	295.0	Transport & Logistics
Phoenix Lamps	22.7	57.3	23.3	15.2	356.7	48.0	342.1	Auto Ancillaries
G M M Pfaudler	20.8	26.9	27.2	16.8	142.0	15.6	120.7	Capital Goods
R Systems International	23.1	335.3	16.4	9.3	247.1	19.0	109.9	Infotech
Bihar Caustic & Chemicals	17.3	23.0	23.8	45.5	174.3	49.3	149.0	Chemicals
Helios & Matheson Information Technology	48.5	36.4	28.8	5.2	400.7	47.2	111.9	Infotech
Tata Sponge Iron	24.6	16.2	26.0	20.4	465.7	95.5	299.8	Steel
Asian Hotels	25.8	73.2	27.0	6.5	513.5	132.6	899.8	Hospitality
Numeric Power Systems	35.7	46.6	29.1	5.3	426.0	42.6	267.2	Consumer Durables
Wanbury	47.8	40.8	18.1	9.4	233.5	19.6	117.7	Pharmaceuticals
Thomas Cook (India)	29.4	22.8	20.7	19.9	286.2	51.9	1,334.2	Hospitality
Vinati Organics	44.5	68.3	21.1	6.0	146.3	15.2	104.9	Pharmaceuticals
Royal Orchid Hotels	31.6	29.8	25.1	9.0	130.0	32.3	208.0	Hospitality
Ramkrishna Forgings	40.4	25.3	19.6	10.1	208.2	13.0	163.1	Casting & Forging
Natco Pharma	27.6	196.2	18.2	5.1	332.7	40.5	201.7	Pharmaceuticals
*Interest Coverage Ratio **Monthly Average for September '08 Source: ETIG Analysis, Capitaline

BUY BANKINDIA ABOVE 295 S.L 289 TGT 312-323

BUY IDFC ABOVE 58.5 S.L 55 TGT 69.65-72.9

BUY RCOM ABOVE 258 S.L 242 TGT 279.65-301.5

BUY NIFTY 3600 CE FOR MONDAY

SELL NTPC BELOW 165 S.L 168.5 TGT 160.45-156.65

SELL PUNJLLOYD BELOW 185 S.L 191 TGT 171-166

SELL SESAGOA BELOW 85 S.L 89 TGT 73-65

SELL RCOM BELOW 271 S.L 278.5 TGT 254.10-239.25

SELL SAIL BELOW 108 S.L 109.5 TGT 102.9-98.25

BUY CAIRN ABOVE 170 S.L 168.5 TGT 184.5-191

BUY RPL ABOVE 114.5 S.L 113.5 TGT 121.75-127.5

BUY SAIL ABOVE 110 S.L 108.5 TGT 114.5-117.65

BEAR MARKET

Bear Market 2000-2002: Replay in 2008

As you can see in the chart above, the 2000-2002 bear market was not only painful in terms of price correction but also time correction. Here are some facts -

• Nifty peaked in Feb 2000

• It then took 8 months for the market to slide to 200 week moving average. The price correction was 36% and it happened between Feb 2000 and October 2000.

• The market then bounced back from 200 week moving average - 20% bounce. This was Oct-Feb period - generally good period of equities

• The market then tumbled below 200 week moving average in March 2001.

• The market sharply tumbled 30% on break below 200 week moving average.

• Time Correction - It took 29 months for market to recover once market slipped below 200 week ma. It was a painful slow recovery.

• Every rally below 200 week ma got arrested at 200 week ma during those 29 months of recovery.

• The bull market resumed when market finally broke out above 200 week ma in August 2003.

Dow Hit a 3 Year Low on last friday, Liqudity drives Global markets, sensex 3 Year Low is 9810, Will we Hit it ?Hedge your investments by Buying GOLD, October is also the Month when Local Mutual funds & FII's will face redemption due to Festival and Christmas Season. So liqudity will be low...

SELL RPL BELOW 140 TGT 124-118 S.L 145
SELL RELIANCE BELW 1920 TGT 1865-1820 S.L 1977
SELL RELCAPITAL BELOW 1155 TGT 1103-1085 S.L 1185

Next week, the nuclear deal is an important event and on this Sunday Mukesh Ambani, Chairman of Reliance Industries will announce the production of oil and gas which will be another big event. The above mentioned two events will help market remain strong.

SELL SBIN 1592 S.l 1625 tgt 1540-1518
SELL LT 2737 S.L 2780 tgT 2652-2618

BSE 14,555 is an important level to hold the market. Below this level market is weak upto 14,350 and 14,150. Here I want to mention that 14,786 level is the most important level to come out of bear and volatile markets. Until this level is not crossed we would face volatility and stock specific movement.
ADAG group stocks and banking stocks both private and PSU were ruling on Friday. But I feel one must book profit on every rise until above given safe level of 14,786 doesn`t come.

Market has fallen as it was unable to reach 14,786 level. The banking sector led the fall, being an important sector for the stock market in the last two months. The sector was holding the market but when this sector became weak the entire market was shocked and the unwinding process started.

BUY NIFTY 4500CE AROUND 15 TGT 65-80 HOLD THE POSTION TILL EXPIRY.

Today Nuclear Supplier Group will take a decision on India`s N-deal with US. This may help to improve the market sentiments. Also inflation figures are expected tomorrow, which will be an event for the market. I feel from August 22 there will be positive mood in the markets and the market will give profitable trading opportunity.

On the BSE above 14,350 level, 14,555 and 14,786 are next two crucial level for the markets to sustain growth. The current mood in the market is unclear as there is no big event to help in the market and until FII and negative global markets are keeping domestic traders and investors cautious.

BUY ANSALINFRA AROUND 104 S.L 101.4 TGT 109.5-116
BUY NIFTY 4400CE AROUND 72 S.L 55 TGT 120 145