CARE assigns ‘PR1+’ rating to the CP/NCD issue of Reliance Communications Ltd.     CARE assigns ‘PR1+(SO)’ ratings to the Bank Facilities of Macronet Mercantile Pvt. Ltd.     CARE assigns ‘PR1+(SO)’ ratings to the Bank Facilities of Reliance Big TV Ltd.     CARE assigns ‘PR1+(SO)’ ratings to the Bank Facilities of Reliance Webstore Ltd.     CARE assigns ‘PR1+(SO)’ ratings to the Bank Facilities of Reliance Communications Infrastructure Ltd.     CARE assigns ‘PR1+(SO)’ ratings to the Bank Facilities of Haryana Cybernet Pvt. Ltd.     CARE assigns ‘BBB-’ and ‘PR 3’ ratings to the bank facilities of Sai Infosystem (India) Ltd.     CARE assigns ‘BBB-’ rating to the Bank Facilities of Gati Infrastructure Ltd.     CARE upgrades ratings to the Bank Facilities of Banswara Syntex Ltd.     CARE assigns ‘ BBB-’ ratings to the Bank Facilities of Keerthi Industries Ltd.    
   
 
Ratings for IPO Grading Sector:

A       B       C       D       E       F       G       H       I       J       K       L       M      
N       O       P       Q       R       S       T       U       V       W       X       Y       Z      
Last Updated Wednesday, January 30, 2008

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Name of issuer Instrument O/s Amount Rating
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Aishwarya Telecom Ltd.
IPO Grading -- CARE IPO Grade 2
AMD Metplast Ltd.
IPO Grading -- CARE IPO Grade 3
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Bang Overseas Ltd.
IPO Grading -- CARE IPO Grade 2
Bhagwati Banquets & Hotels Ltd.
IPO Grading -- CARE IPO Grade 2
Brahamputra Consortium Ltd.
IPO Grading -- CARE IPO Grade 1
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Cambridge Technology Enterprise Ltd.
IPO Grading -- CARE IPO Grade 2
Celestial Labs Ltd.
IPO Grading -- CARE IPO Grade 1
Central Bank of India
IPO Grading -- CARE IPO Grade 4
Cords Cable Industries Ltd.
IPO Grading -- CARE IPO Grade 3
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Elysium Pharmaceuticals Ltd.
IPO Grading -- CARE IPO Grade 1
Empee Distilleries Ltd.
IPO Grading -- CARE IPO Grade 3
Evinix Accessories Ltd.
IPO Grading -- CARE IPO Grade 2
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Globus Spirits Ltd.
IPO Grading -- CARE IPO Grade 3
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JAS Toll Road Company Ltd.
IPO Grading -- CARE IPO Grade 3
Jyothy Laboratories Ltd.
IPO Grading -- CARE IPO Grade 4
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Kamyani Patients Care (India) Ltd.
IPO Grading -- CARE IPO Grade 1
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Niraj Cement Structurals Ltd.
IPO Grading -- CARE IPO Grade 1
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Orbit Corporation Ltd.
IPO Grading -- CARE IPO Grade 1
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Porwal Auto Components Ltd.
IPO Grading -- CARE IPO Grade 3
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Ramsarup Lohh Udyog Limited
IPO Grading -- CARE IPO Grade 2
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Somi Conveyor Beltings Ltd.
IPO Grading -- CARE IPO Grade 2
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Transformers & Rectifiers (India) Ltd.
IPO Grading -- CARE IPO Grade 4
Tulsi Extrusions Ltd.
IPO Grading -- CARE IPO Grade 3

Last Updated Wednesday, January 30, 2008

Amount in Million Rs.

# - Rating Withdrawn, @ - Credit Watch, $ - Rating not in use, % - Instrument redeemed,

& - Rating suspended due to non-submission of information by the Company

* - In Principle rating subject to compliance to stipulated conditions
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