AC Choksi Share Brokers Private Limited

A C ChoksiShare Brokers Private LimitedA C Choksi Institutional Research |Initiation Report|MINING MOILApril 26, 2011sExhibit 67 - Comparative Returns TablePerformance comparisonPrice Performance1 M 3 M Since ListingMOIL 376 432 467IndicesBSE Sensex 17839 19008 19648BSE Metals 15275 16734 16404NSE Nifty 5365 5697 5892BSE PSU 8473 8792 9346BSE 200 2205 2356 2443CNX Nifty Junior 10578 11404 11960CNX Midcap 7583 8216 8631CNX PSE 3348 3559 3859Mining StocksSandur Manganese & Iron Ores Ltd 561 690 742Sesa Goa Ltd 259 336 299GMDC Ltd 132 132 131NMDC Ltd 280 270 254Coal India Ltd 346 314 327Return %MOIL 2.7% -10.5% -17.1%BSE Sensex 9.9% 3.1% -0.2%BSE Metal Index 9.1% -0.5% 1.6%NSE Nifty 9.7% 3.3% -0.1%BSE PSU 7.8% 3.9% -2.2%BSE 200 9.5% 2.5% -1.1%CNX Nifty Junior 9.0% 1.1% -3.6%CNX Midcap 9.6% 1.2% -3.7%CNX PSE 7.4% 1.1% -6.8%Sandur Manganese & Iron Ores Ltd 13.9% -7.4% -14.0%Sesa Goa Ltd 24.4% -4.2% 7.7%GMDC Ltd 7.3% 7.8% 8.7%NMDC Ltd 0.0% 3.6% 10.2%Coal India Ltd 4.7% 15.4% 10.9%MOIL hasunderperformedthe market and itspeers since listing.We believe MOILto catch up withthe market and itsmining peers overlonger term.Source: NSE, BSE, A C Choksi Institutional Research_____________________________________________________________________________________A C Choksi Institutional Researchresearch@acchoksi.com 43