Dhanus Technologies to acquire Borusan Telekom

Dhanus Technologies Ltd has informed that in accordance with the acquisition of Companies in line with the Company's strategic growth plan, the Company has entered share purchase agreement on January 16, 2008 agreeing with Borusan Holding A.S for the 100% acquisition of the Borusan Telekom, Turkey's first alternative telecom operator with 'A' type license and this is subject to the Company obtaining the necessary approval(s) and clearance(s) from the various authorities.

Dhanus Technologies launches FLEETRAC

Dhanus Technologies Ltd has informed that the Company has launched its product called "FLEETRAC", a Vehicle Tracking System on November 29, 2007. It is an advanced tracking service for remote monitoring and tracking of vehicles.

Grey Market Premium Weekly Update

Following are the grey market premiums heard on the street

Dhanus Technologies has a premium of 95

Consolidated Construction has just zoomed from 200 to around 300

Supreme Infra has a premium of 80, a increase from 65 odd levels

Saamya Biotech has a massive increase as well - a premium of 11 - thats more than double the issue price

MAYTAS Infra has a premium of 155

Circuit Systems has a modest premium of 5

and

Reliance Power has a premium of 45! even before the issue price is decided

Grey Market Premium - Reliance Power, Dhanus, Consolidated Constructions

We hear the following grey market premiums

Reliance Power at around 35

Dhanus Technologies has staged a comeback with a grey market premium of Rs 90

Consolidated Constructions has also picked up at around Rs 210

MAYTAS Infra has an excellent premium of Rs 140

Supreme Infrastructure maintains premium of Rs 55

Grey Market - Power Grid, Saamya Biotech, Supreme Infra, Consolidated Construction

Power Grid Corporation 44 to 52 20 to 21

Dhanus Tech. 280 to 295 100 to 110

Koutons Retail 370 to 415 95 to 100

Consolidated Construction 460 to 510 210 to 220

Supreme Infra 95 to 108 55 to 60

Saamya Biotech (I) Ltd. 10 3.5 to 4

Circuit Systems (India) Ltd. 35 3 to 4

Kaveri Seeds 150 to 170 6 to 8

Grey Market - Kouton, Consolidated, Power Grid

Koutons Retail 370 to 415 105 to 110

Power Grid Corporation 44 to 52 16 to 18

Dhanus Tech 280 to 295 115 to 120

Indowind Energy 55 to 65 Discount

Consolidated Construction 460 to 510 50 to 60

Circuit Systems (India) Ltd 35 NA

Allied Computer 12 0

Grey Market - Consolidated Construction, Kouton, Kaveri, Dhanus, Allied Computer

Consolidated Construction 460 to 510 60 to 65

Koutons Retail 370 to 415 100 to 105

Kaveri Seeds 150 to 170 12 to 15

Dhanus Techologies 280 to 295 110 to 115

Allied Computer 12 0

Power Grid Corporation 44 to 52 15.5 to 16

Indowind Energy 55 to 65 Discount

Magnum Venture 30 2 to 3

Grey Market - Kouton, Dhanus, Power Grid, Kaveri

Power Grid Corporation 44 to 52 14.5 to 15

Allied Computer 12 0

Koutons Retail 370 to 415 95 to 98

Dhanus Tech. 280 to 295 90 to 95

Kaveri Seeds 150 to 170 12 to 14

Indowind Energy 55 to 65 Trading at Discount

Magnum Venture 30 2 to 3

Consolidated Construction 460 to 510 Not Available

Emkay - Dhanus Technologies

Emkay recommends a AVOID on Dhanus Technologies IPO

DTL is valued at 23.9x its FY07 fully diluted EPS of Rs 12.4 at the higher end of the price band and at 22.6x at the lower end of the price band.