1. ANGEL TOP PICKS
India Research
Sensex: 20045 Nifty: 6018
Sr. No Name of Company Market Cap Strategy CMP Target % Upside Div Yield%
(Rs. Cr) Return
Agro Cem/ Agro Food Processing/ Fertilizers
1 United Phosphorus Ltd. 8,272 BUY 188 228 22 1.1
Auto Ancillaries
2 Amara Raja Batteries 1,842 BUY 214 261 22 1.4
3 Automotive Axles Ltd. 722 BUY 478 578 21 0.6
4 Ceat Ltd. 625 BUY 183 225 23 2.2
5 JK Tyre & Inds. Ltd. 783 BUY 191 237 24 1.8
6 Subros Ltd. 302 BUY 50 60 19 1.4
Banking & Financial Services
7 ICICI Bank Ltd. 127,668 BUY 1,112 1,350 21 1.1
Capital Goods
8 Elecon Engineering Company Ltd. 839 BUY 90 107 18 1.7
9 Graphite India Ltd. 1,851 BUY 95 117 23 3.7
10 Jyoti Structures Ltd. 1,141 BUY 139 215 55 0.7
11 KEC International Ltd. 2,626 BUY 511 648 27 1.2
12 Lakshmi Machine Works 3,027 BUY 2,415 2,819 17 0.6
13 Mcnally Bharat Engg. Company Ltd. 888 BUY 286 406 42 0.5
Cement
14 India Cements Ltd. 3,586 BUY 117 139 19 1.7
15 JK Lakshmi Cement Ltd. 771 BUY 63 92 46 4.0
16 Kesoram Industries Ltd. 1,370 BUY 320 437 37 1.8
17 Madras Cements Ltd. 2,806 BUY 118 139 18 1.7
Hotels
18 Taj GVK Hotels & Resorts Ltd. 1,023 BUY 163 240 47 1.2
Infrastructure
19 IVRCL Infrastructures & Projects Ltd. 4,587 BUY 172 216 26 0.5
20 Jaiprakash Associates Ltd. 25,772 BUY 121 174 44 0.7
21 Madhucon Projects Ltd. 1,104 BUY 150 174 16 0.3
22 Nagarjuna Construction Company Ltd. 4,347 BUY 169 201 19 0.8
23 Patel Engineering Ltd. 2,649 BUY 379 565 49 0.5
24 Punj Lloyd Ltd. 4,387 BUY 132 156 18 0.1
25 Simplex Infrastructures Ltd. 2,346 BUY 474 573 21 0.4
Information Technology
26 3I Infotech Ltd. 1,192 BUY 62 100 61 2.4
27 Educomp Solutions Ltd. 5,859 BUY 614 734 20 0.4
28 Infotech Enterprises Ltd. 1,817 BUY 164 192 17 1.2
29 Mphasis Ltd. 13,642 BUY 650 872 34 0.5
30 NIIT Ltd. 1,175 BUY 71 83 17 2.0
31 Tech Mahindra Ltd. 9,636 BUY 773 950 23 0.5
Logistics
32 Allcargo Global Logistics Ltd. 2,022 BUY 155 195 26 0.6
September 24, 2010 1

2. ANGEL TOP PICKS
India Research
Sr. No Name of Company Market Cap Strategy CMP Target % Upside Div Yield%
(Rs. Cr) Return
Media
33 Deccan Chronicle Holdings Ltd. 3,227 BUY 133 193 46 2.3
34 HT Media Ltd. 3,703 BUY 158 186 18 0.2
35 Jagran Prakashan Ltd. 3,780 BUY 126 160 27 2.8
36 PVR Ltd. 447 BUY 174 226 30 0.6
Metals
37 Electrosteel Castings Ltd. 1,572 BUY 48 72 50 2.6
38 Godawari Power & Ispat Ltd. 593 BUY 211 313 48 1.2
39 Prakash Industries Ltd. 2,031 BUY 163 232 42 0.0
40 Sterlite Industries (India) Ltd. 57,937 BUY 172 215 25 2.5
Oil & Gas
41 Reliance Industries Ltd. 327,717 BUY 1,002 1,260 26 0.6
42 Shiv-Vani Oil & Gas Exploration Services Ltd. 2,065 BUY 445 539 21 0.2
Pharmaceuticals
43 Alembic Ltd. 820 BUY 61 74 20 0.8
44 Dishman Pharmaceuticals & Chemicals Ltd. 1,517 BUY 188 279 48 0.6
45 Indoco Remedies Ltd. 515 BUY 419 541 29 1.7
Power
46 CESC Ltd. 5,011 BUY 401 470 17 1.0
47 Gujarat Industries Power Company Ltd. 1,762 BUY 117 135 16 2.1
Real Estate
48 Anant Raj Inds. Ltd. 4,078 BUY 138 178 29 0.4
Shipping
49 Great Eastern Shipping Company Ltd. 4,682 BUY 307 396 29 2.6
Miscellaneous
50 Blue Star Ltd. 4,425 BUY 492 589 20 1.6
51 Essel Propack Ltd. 742 BUY 47 58 22 0.7
52 Finolex Cables Ltd. 904 BUY 59 85 44 1.0
53 Greenply Industries 444 BUY 201 291 45 0.7
54 Phillips Carbon Black Ltd. 725 BUY 218 270 24 2.3
Note:
1) The investment horizon is for 12 months.
2) Dividend yield is calculated taking figures from the dividends paid by the companies in the latest financial year.
Disclaimer: Ours is an advisory role. The final decision and consequences based on our information is solely yours. Moreover, in keeping with regulatory
guidelines, we do not guarantee any returns on investments. Prospective investors and others are cautioned that any forward-looking statements are not
predictions and may be subject to change without notice.
Call us on (91) (022) 39527000 Ext. 105/146/124 or e-mail us on advisory@angeltrade.com
Research & Investment Advisory :
B-wing, 5th Floor, Acme Plaza, M.V. Road, Andheri (E), Mumbai 400 059.
September 24, 2010 2