SELECTION OF THE COMPANIES Now we will select 2 companies from each sector namely Banking, Information technology &

pharmaceuticals on the basis of EPS(Earning per share) of each company in the year 2012. 1. Banking sector:In banking sector we have divided whole sector in two sub-sectors. Public and private sector. And we will select one company each from both sectors. As it will help us to reduce our risk in investment by diversifying it.

Private sector Eps(In Bank Rs) SBI 206.2 PNB 134.31 State Bank of Travancore 123.01 Bank of Baroda 106.05 State Bank of Bikaner and Jaipur 104.32 As jammu & Kashmir bank is having highest Eps in private sector with 217.65 Rs. we will select jammu and Kashmir bank from banking sector. SBI is having highest EPS in private banking sector with Rs 206.20. so, we will select State bank of India from private banking sector. 2. Pharmaceutical sector:Pharmaceutical Eps(In company Rs) Pfizer 168.62 Sanofi India 78.55 Dr Reddys Labs 74.51 GlaxoSmithKline 73.6 Abbott India 70.27 Torrent Pharma 64.59 Wyeth 57.24 Wockhardt 56.83 Venus Remedies 54.21 Sharon Bio Medi 48.82 Eps(in Bank Rs) Jammu &Kashmir Bank 217.65 Axis Bank 110.56 ICICI Bank 72.16 Karur Vysya 51.34 ING Vysya Bank 39.52 Public sector

As we can see in the above table different Pharma companies with their EPS in previous year. We will select first two companies with higher EPS. So, we will select Pfizer with EPS of 168.62 Rs and sanofi India with EPS of 78.55 Rs.

3. Information technology sector:Information technology Eps (In Company Rs) Infosys 158.75 Oracle Financial 122.43 Financial Tech 70.07 TCS 65.15 Tech Mahindra 50.81 Persistent 45.45 HCL Tech 41.89 Hinduja Venture 37.34 MphasiS 28.86 Zensar Tech 27.89

As we can see in the above table different IT companies with their EPS in previous year. We will select first two companies with higher EPS. So, we will select Infosys with EPS of 158.75 Rs and Oracle Financial with EPS of 122.43 Rs.

BANKING INDUSTRY
The word bank is derived from the Italian banca, which is derived from German and means bench. The terms bankrupt and "broke" are similarly derived from banca rotta, which refers to an out of business bank, having its bench physically broken. Moneylenders in Northern Italy originally did business in open areas, or big open rooms, with each lender working from his own bench or table. Typically, a bank generates profits from transaction fees on financial services or the interest spread on resources it holds in trust for clients while paying them interest on the asset. Development of banking industry in India followed below stated steps.

Banking in India has its origin as early as the Vedic period. It is believed that the transistion from money lending to banking must have occurred even before Manu, the great Hindu Jurist, who has devoted a section of his work to deposits and advances and laid down rules relating to rates of interest. Banking in India has an early origin where the indigenous bankers played a very important role in lending money and financing foreign trade and commerce. During the days of the East India Company, was the turn of the agency houses to carry on the banking business. The General Bank of India was first Joint Stock Bank to be established in the year 1786. The others which followed were the Bank Hindustan and the Bengal Bank.

In the first half of the 19th century the East India Company established three banks; the Bank of Bengal in 1809, the Bank of Bombay in 1840 and the Bank of Madras in 1843. These three banks also known as Presidency banks were amalgamated in 1920 and a new bank, the Imperial Bank of India was established in 1921. With the passing of the State Bank of India Act in 1955 the undertaking of the Imperial Bank of India was taken by the newly constituted State Bank of India.

The Reserve Bank of India which is the Central Bank was created in 1935 by passing Reserve Bank of India Act, 1934 which was followed up with the Banking

Regulations in 1949. These acts bestowed Reserve Bank of India (RBI) with wide ranging powers for licensing, supervision and control of banks. Considering the proliferation of weak banks, RBI compulsorily merged many of them with stronger banks in 1969.

The three decades after nationalization saw a phenomenal expansion in the geographical coverage and financial spread of the banking system in the country. As certain rigidities and weaknesses were found to have developed in the system, during the late eighties the Government of India felt that these had to be addressed to enable the financial system to play its role in ushering in a more efficient and competitive economy. Accordingly, a high-level committee was set up on 14 August 1991 to examine all aspects relating to the structure, organization, functions and procedures of the financial system. Based on the recommendations of the Committee (Chairman: Shri M. Narasimham), a comprehensive reform of the banking system was introduced in 1992-93. The objective of the reform measures was to ensure that the balance sheets of banks reflected their actual financial health. One of the important measures related to income recognition, asset classification and provisioning by banks, on the basis of objective criteria was laid down by the Reserve Bank. The introduction of capital adequacy norms in line with international standards has been another important measure of the reforms process.

1.Comprises balance of expired loans, compensation and other bonds such as National Rural Development Bonds and Capital Investment Bonds. Annuity certificates are excluded. 2. These represent mainly non- negotiable non- interest bearing securities issued to International Financial Institutions like International Monetary Fund, International Bank for Reconstruction and Development and Asian Development Bank. 3. At book value. 4.Comprises accruals under Small Savings Scheme, Provident Funds, Special Deposits of Non- Government

 In the post-nationalization era, no new private sector banks were allowed to be set up. However, in 1993, in recognition of the need to introduce greater competition which could lead to higher productivity and efficiency of the banking system, new private sector banks were allowed to be set up in the Indian banking system. These new banks had to satisfy among others, the following minimum requirements:

(i)

It should be registered as a public limited company;

(ii) The minimum paid-up capital should be Rs 100 crore; (iii) (iv) The shares should be listed on the stock exchange; The headquarters of the bank should be preferably located in a centre which does not have the headquarters of any other bank; and (v) The bank will be subject to prudential norms in respect of banking operations, accounting and other policies as laid down by the RBI. It will have to achieve capital adequacy of eight per cent from the very beginning.

Indian Banking: Key Developments 1969 Government acquires ownership in major banks Almost all banking operations in manual mode Some banks had Unit record Machines of IBM for IBR & Pay roll 1970- 1980 Unprecedented expansion in geographical coverage, staff, business & transaction volumes and directed lending to agriculture, SSI & SB sector Manual systems struggle to handle exponential rise in transaction volumes - Outsourcing of data processing to service bureaux begins Back office systems only in Multinational (MNC) banks' offices 1981- 1990 Regulator (read RBI) led IT introduction in Banks Product level automation on stand alone PCs at branches (ALPMs) In-house EDP infrastructure with Unix boxes, batch processing in Cobol for MIS. Mainframes in corporate office

1991-1995

Expansion slows down Banking sector reforms resulting in progressive de-regulation of banking, introduction of prudential banking norms entry of new private sector banks New private banks are set up with CBS/TBA form the start New delivery channels like ATM, Phone banking and Internet banking and convenience of any branch banking and auto sweep products introduced by new private and MNC banks Retail banking in focus, proliferation of credit cards Communication infrastructure improves and becomes cheap. IDRBT sets up VSAT network for Banks Alternate delivery channels find wide consumer acceptance IT Bill passed lending legal validity to electronic transactions Govt. owned banks and old private banks start implementing CBSs, but initial attempts face problems Banks enter insurance business launch debit cards

1996-2000

2000-2003

JAMMU AND KASHMIR BANK

The Jammu and Kashmir Bank was founded on October 1, 1938 under letters patent issued by the Maharaja of Jammu and Kashmir, Hari Singh. The Maharaja invited eminent Kashmiri investors to become founding directors and shareholders of the bank, the most notable of which were Abdul Aziz Mantoo, Pesten Gee and the Bhaghat Family, all of whom acquired major shareholdings. The Bank commenced business on July 4, 1939 and was considered the first of its nature and composition as a State owned bank in the country. The Bank was established as a semi-State Bank with participation in capital by State and the public under the control of State Government. In 1971, the Bank acquired the status of a scheduled bank and was declared as an "A" Class bank by the Reserve Bank of India in 1976. The bank had to face serious problems at the time of independence when out of its total of ten branches two branches of Muzaffarabad, Rawalakotand Mirpur fell to the other side of the line of control (now Pakistan-administered Kashmir) along with cash and other assets. Following the extension of Central laws to the state of Jammu & Kashmir, the bank was defined as a government company as per the provisions of Indian companies act 1956. Mushtaq Ahmed is the new Chairman & CEO of Jammu & Kashmir Bank. J&K Banks Annual Report 2008-09 has won three awards at the prestigious LACP 2009 Vision Awards the worlds largest award programme for Annual Reports, organized by California-based League of American Communications Professionals (LACP), USA. The LACP is a forum within the public relations industry that facilitates discussion of best-inclass practices in public relations and recognizes exemplary communication capabilities at a global level. The awards received include Rank 73 on the top hundred list of annual reports from around the world, Platinum Award in the Commercial Banks Up to $10 billion annual revenue from the Asia Pacific Region and Silver Award for Most Creative Report across all sectors from the Asia Pacific Region. Dr Haseeb Drabu was chairman and chief executive of the bank for the period 2005 to 2010. The bank is celebrating its platinum jubilee this fiscal year (FY13). To make this year remarkable, the bank aims to achieve a total business of Rs 100000 crore and earn a net profit of Rs 1,000 crore. On April 1, 2013 the bank surpassed the target of promised Rs 100000

Crore business and is confident of meeting its other annual targets as well in its Platinum Jubilee year. On May 15 2013, bank announced that it has achieved the target of promised Rs 1000 Crore profit for the FY 2012-13. The bank posted net profit of Rs 1055.10 crores and business turnover of Rs 103421 crore for the FY 2012-13. In its Platinum jubilee year, the banks board of directors recommended special dividend of 500% or Rs 50 per share for 2012-13. Brief profile J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the rest of the country. It is also the only private sector bank designated as RBIs agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT. J&K Bank follows a two-legged business model whereby it seeks to increase lending in its home state which results in higher margins despite modest volumes, and at the same time, seeks to capture niche lending opportunities on a pan-India basis to build volumes and improve margins. J&K Bank operates on the principle of 'socially empowering banking' and seeks to deliver innovative financial solutions for household, small and medium enterprises. The Bank, incorporated in 1938, and is listed on the NSE and the BSE. It has a track record of uninterrupted profits and dividends for four decades. The J&K Bank is rated P1+, indicating the highest degree of safety by Standard & Poor and CRISIL. Vision To catalyse economic transformation and capitalise on growth. The Banks vision is to engender and catalyse economic transformation of Jammu and Kashmir and capitalise from the growth induced financial prosperity thus engineered.The Bank aspires to make Jammu and Kashmir the most prosperous state in the country, by helping create a new financial architecture for the J&K economy, at the center of which will be the J&K Bank. Mission

The Banks mission lays down a two-fold path: To provide the people of J&K international quality financial service and solutions and to be a super-specialist bank in the rest of the country. The two together will make the bank most profitable Bank in the country. Network The Bank's Corporate Headquarter is situated in Srinagar. The Bank has a network of 689 business units (branches) and 613 ATMs across the country as on May 15, 2013. During the year 2012-13, the bank has opened 70 new units thereby increasing its network to 685 while 105 ATMs were commissioned, taking their number to 613. Awards and recognitions 2011 Business Today - KPMG Study

The Bank was ranked one of the best banks in the Best Bank Study 2011 done by Business Today and global Consulting firm KPMG (BT-KPMG). The study ranked the Bank No. 1 on the basis of NPA coverage ratio which stood best in the industry as at the end of March 2011.

The Bank was ranked 15th in large banks category in the country based on the last year's growth, quality of assets, productivity and efficiency parameters, leaving state bank of India, federal bank, HSBC Bank, Standard Chartered bank and other major banks far behind.

FE India's best banks Award The Bank won the prestigious Financial Express Best Banks Award in the Old Private Sector Banks Category for Scaling up its business and strengthening the balance sheet for the year ended March 2011. The Award is the recognition of the Bank's innovative approach towards the business, both within and outside J&K. Dun & Bradstreet Banking Awards J&K Bank was awarded the Best Bank in the prestigious 'Dun & Bradstreet (D&B) - Polaris software Banking Awards 2011 in the category for "Rural Reach - Private Sector". 2012 Business Today - KPMG Study

The bank was ranked one of the best banks in the Best Bank Study 2012 done by Business Today and KPMG. The Study ranked the Bank No. 1 on the basis of NPA coverage ratio and the bank was also ranked No. 1 in terms of Cost to income ratio which stood best in the industry at the end of the March 2012.

The Bank was ranked 4th in Mid sized banks category in the country based on the previous year's growth, quality of assets, quality of earnings, productivity and efficeincy and capital adequacy parameters.

2013 FE Indias Best Banks Award-2012-13 The Bank was ranked as No. 1 in Best Old Private Sector Bank category in the survey conducted across the banking industry. In terms of Profitability, the Bank stands 3rd in the overall banking industry while as 1ST in the category of Old private sector banks. The Award is the recognition of the Bank's strong fundamentals and dynamic growth model.

STATE BANK OF INDIA (SBI)

State Bank of India (SBI) is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2012, it had assets of US$501 billion and 15,003 branches, including 157 foreign offices, making it the largest banking and financial services company in India by assets. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banksBank of Calcutta and Bank of Bombayto form the Imperial Bank of India, which in turn became the State Bank of India. Government of India nationalised the Imperial Bank of India in 1955, with Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. SBI was ranked 285th in the Fortune Global 500 rankings of the world's biggest corporations for the year 2012. SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians(NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout the country. SBI is a regional banking behemoth and has 20% market share in deposits and loans among Indian commercial banks. The State Bank of India was named the 29th most reputed company in the world according to Forbes 2009 rankings and was the only bank featured in the "top 10 brands of India" list in an annual survey conducted by Brand Finance and The Economic Times in 2010.

International presence As of 28 June 2013, the bank had 180 overseas offices spread over 34 countries. It has branches of the parent in Moscow, Colombo, Dhaka, Frankfurt, Hong

Kong, Tehran, Johannesburg, London, Los Angeles, Male in the Maldives, Muscat, Dubai, New York, Osaka, Sydney, and Tokyo. It has offshore banking units in the Bahamas, Bahrain, and Singapore, and representative offices in Bhutan and Cape Town. It also has an ADB in Boston, USA.

The Canadian subsidiary, State Bank of India (Canada) also dates to 1982. It has seven branches, four in the Toronto area and three in the Vancouver area. SBI operates several foreign subsidiaries or affiliates. In 1990, it established an offshore bank: State Bank of India (Mauritius). In 1982, the bank established a subsidiary, State Bank of India (California), which now has ten branches nine branches in the state of California and one in Washington, D.C. The 10th branch was opened in Fremont, California on 28 March 2011. The other eight branches in California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego, Tustin and Bakersfield. In Nigeria, SBI operates as INMB Bank. This bank began in 1981 as the Indo-Nigerian Merchant Bank and received permission in 2002 to commence retail banking. It now has five branches in Nigeria. In Nepal, SBI owns 55% of Nepal SBI Bank, which has branches throughout the country. In Moscow, SBI owns 60% of Commercial Bank of India, withCanara Bank owning the rest. In Indonesia, it owns 76% of PT Bank Indo Monex. The State Bank of India already has a branch in Shanghai and plans to open one in Tianjin. In Kenya, State Bank of India owns 76% of Giro Commercial Bank, which it acquired for US$8 million in October 2005. Associate banks SBI has five associate banks; all use the State Bank of India logo, which is a blue circle, and all use the "State Bank of" name, followed by the regional headquarters' name:

State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Mysore State Bank of Patiala State Bank of Travancore

Other SBI service points SBI has 27,000+ ATMs (25,000th ATM was inaugurated by the then Chairman of State Bank Shri O.P. Bhatt on 31 March 2011, the day of his retirement); and SBI group (including associate banks) has about 45,000 ATMs. SBI has become the first bank to install an ATM at

Drass in the Jammu & Kashmir Kargil region. This was the Bank's 27,032nd ATM on 27 July 2012. Logo and slogan

The logo of the State Bank of India is a blue circle with a small cut in the bottom that depicts perfection and the small man the common man - being the center of the bank's business.

Slogans: "PURE BANKING, NOTHING ELSE", "WITH YOU - ALL THE WAY", "A BANK OF THE COMMON MAN", "THE BANKER TO EVERY INDIAN", "THE NATION BANKS ON US".

Recent awards and recognitions

Best Online Banking Award, Best Customer Initiative Award & Best Risk Management Award (Runner Up) by IBA Banking Technology Awards 2010

The Bank of the year 2009, India (won the second year in a row) by The Banker Magazine Best Bank Large and Most Socially Responsible Bank by the Business Bank Awards 2009

Best Bank 2009 by Business India The Most Trusted Brand 2009 by The Economic Times Most Preferred Bank & Most preferred Home loan provider by CNBC Visionaries of Financial Inclusion By FINO Technology Bank of the Year by IBA Banking Technology Awards SKOCH Award 2010 for Virtual corporation Category for its e-payment solution The Brand Trust Report: 11th most trusted brand in Hindustan.

PHARMACEUTICAL INDUSTRY
The Pharmaceutical industry in India is the world's third-largest in terms of volume and stands 14th in terms of value. According to Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, the total turnover of India's pharmaceuticals industry between 2008 and September 2009 was US$21.04 billion. While the domestic market was worth US$12.26 billion. Sale of all types of medicines in the country is expected to reach around US$19.22 billion by 2012. Exports of pharmaceuticals products from India increased from US$6.23 billion in 2006-07 to US$8.7 billion in 2008-09 a combined annual growth rate of 21.25%. According to PricewaterhouseCoopers (PWC) in 2010, India joined among the league of top 10 global pharmaceuticals markets in terms of sales by 2020 with value reaching US$50 billion.[3] Some of the major pharmaceutical firms including Sun Pharmaceutical, Cadila Healthcare and Piramal Healthcare. The government started to encourage the growth of drug manufacturing by Indian companies in the early 1960s, and with the Patents Act in 1970. However, economic liberalization in 90s by the former Prime Minister P.V. Narasimha Rao and the then Finance Minister, Dr. Manmohan Singh enabled the industry to become what it is today. This patent act removed composition patents from food and drugs, and though it kept process patents, these were shortened to a period of five to seven years. The lack of patent protection made the Indian market undesirable to the multinational companies that had dominated the market, and while they streamed out. Indian companies carved a niche in both the Indian and world markets with their expertise in reverseengineering new processes for manufacturing drugs at low costs. Although some of the larger companies have taken baby steps towards drug innovation, the industry as a whole has been following this business model until the present. India's biopharmaceutical industry clocked a 17 percent growth with revenues of Rs.137 billion ($3 billion) in the 2009-10 financial year over the previous fiscal. Bio-pharma was the biggest contributor generating 60 percent of the industry's growth at Rs.8,829 crore, followed by bio-services at Rs.2,639 crore and bio-agri at Rs.1,936 crore.

The number of purely Indian pharma companies is fairly low. Indian pharma industry is mainly operated as well as controlled by dominant foreign companies having subsidiaries in India due to availability of cheap labour in India at lowest cost. In 2002, over 20,000 registered drug manufacturers in India sold $9 billion worth of formulations and bulk drugs. 85% of these formulations were sold in India while over 60% of the bulk drugs were exported, mostly to the United States and Russia. Most of the players in the market are smallto-medium enterprises; 250 of the largest companies control 70% of the Indian market.[8] Thanks to the 1970 Patent Act, multinationals represent only 35% of the market, down from 70% thirty years ago. Most pharma companies operating in India, even the multinationals, employ Indians almost exclusively from the lowest ranks to high level management. Mirroring the social structure, firms are very hierarchical. Homegrown pharmaceuticals, like many other businesses in India, are often a mix of public and private enterprise. Although many of these companies are publicly owned, leadership passes from father to son and the founding family holds a majority share. In terms of the global market, India currently holds a modest 1-2% share, but it has been growing at approximately 10% per year. India gained its foothold on the global scene with its innovatively engineered generic drugs and active pharmaceutical ingredients (API), and it is now seeking to become a major player in outsourced clinical research as well as contract manufacturing and research. There are 74 U.S. FDA-approved manufacturing facilities in India, more than in any other country outside the U.S, and in 2005, almost 20% of all Abbreviated New Drug Applications (ANDA) to the FDA are expected to be filed by Indian companies. Growth in other fields notwithstanding, generics are still a large part of the picture. London research company Global Insight estimates that Indias share of the global generics market will have risen from 4% to 33% by 2007. The Indian pharmaceutical industry has become the third largest producer in the world and is poised to grow into an industry of $ 20 billion in 2015 from the current turnover of $ 12 billion.

PFIZER
Pfizer Limited (PL) is one of the fastest growing pharmaceutical companies in India with a consistent higher than market's growth rate, it came to the Indian market in 21st November of the year 1950 through a company named Dumex Limited. The first production facility was set up at Darukhanna in Mumbai, where products like Protinex and Isonex (isoniazid - an anti -TB drug) were manufactured. Subsequently, this plant also produced Becosules and Corex, both of which remain mega products till date. PL's medicines library includes about 3 million compounds and the pipeline holds approximately 169 new molecular entities and 73 enhancement programs for marketed products in development and about 400 compounds in discovery research across multiple therapeutic areas, which all covers pharmaceutical, animal health and services. In 1960, Pfizer established a large and modern plant at Thane, near Mumbai, which housed manufacturing, quality control and product research facilities. This plant won a number of national safety awards. In November of the year 1965, the Company had entered into a licence agreement with Pfizer Corporation continuing the royalty-free licence granted to it for the use of Pfizer processes, technical know-how, etc., relating to the manufacture of existing products in the pharmaceutical, veterinary and agricultural fields and giving the Company the right to obtain from Pfizer Corporation by Mutual agreement, technical know-how and other assistance relating to the manufacture of new items. A large research and development laboratory of the company at Thane was commissioned in the year 1969. As of 4th March of the year 1977, the company's status was changed as a public limited company. Piroxicam, a major anti-artharitic drug, was launched in India in the last quarter of the year 1989 under the brand name of DOLONEX. The former subsidiary Dumex Ltd was amalgamated with the company effect from 1st April of the year 1992 and also during the same year, the pharmaceuticals division introduced Dolmex' intramuscular injection. Development Operations (Dev Ops) India, formerly a part of the Clinical Research Division, was established in 1995. The operations started with the hiring of a statistician in 1995. Pfizer had acquired the animal healthcare operations of SmithKline Beecham in the year 1996. The pace of work of Clinical Research Division was picked up in 1998 and this was followed by a substantial growth in terms of activities and resources, especially in data management. A dedicated Informatics group of the company for all technical and applications support has been

available since 1997. The Company closed down its manufacturing plant at Ankleshwar with effect from 31st July of the year 1999. During the year 2000, PL made tie-up with Shantha Biotechnics for parallel marketing of its products. Express Pharma Biz Award came to company's hands in the year 2002 for overall performance. The operational merger between the company and Parke-Davis had been completed in the year 2002. A year after, in 2003, Pfizer had initiated the global implementation of 'Clinicopia Labelling and Clinicopia Supply Chain' a part of inferno's Clinical Trails management suite. In mid 2003, the Mumbai group was aligned under Dev Ops Europe to emphasize its focus on operations and facilitate more interactions and project engagements from all sites. In the year 2004, PL had entered into an agreement with Sanofi Synthelabo (India) Ltd for copromotion of its product, Daxid. The Company's seven key brands (Corex, Becosules, Magnex, Dolonex, Gelusil, Minipress XL and Benadryl) had listed among the Top-100 Industry brands, in the year 2005. Viagra was the first global brand launched successfully in December of the year 2005, followed by Caduet (a combination of atorvastatin and amlodipine for treatment of patients with dyslipidemia and hypertension) and LYRICA (pregabalin, for treatment of neuropathic pain), both of which launched in the first quarter of 2006. The Company bagged Pharma Excellence Awards 2006 in 'Innovative Products of the Year' category for Exubera. The global divesture of the OTC business to Johnson & Johnson in December 2006 and Pfizer, won a US Supreme Court appeal in April of the year 2007 that aimed to open the company's Lipitor cholesterol pill, the most widely prescribed drug in the world, to generic competition, also in end of the year 2007, the company had transferred its exclusive license to Johnson & Johnson for a total consideration of Rs 2,148.51 million. Pfizer had launched Champix, a non-nicotine smoking cessation prescription drug during February of the year 2008. Pursuing Innovation

The pursuit of innovation is basic to Pfizer's culture. It shapes our strategy, defines our purpose, and governs every facet of our operations -- from research and development (R&D) that leads to pharmaceutical inventions, to the transfer of knowledge to patients and providers, to the way we respond to the changing marketplace.

Pfizer scientists have produced innovative breakthroughs in a wide range of research areas,

including depression, erectile dysfunction, high cholesterol, HIV infection, hypertension, bacterial infections and systemic fungal infections. And today we're taking on some of the world's most difficult diseases, including cancer, arthritis, and osteoporosis.

Pfizer in India

Pfizer Limited (India) has a turnover of US$ 184.96 million (March 2012) One of the highest spenders in pharmaceutical R&D globally, Pfizer has made clinical research investments of US$ 1.18 million (March 2012) in India

The company was awarded the FICCI SEDF (Socio Economic Development Foundation) Certificate of Commendation for its social responsibility efforts

Pfizer has won several awards including that for the multinational pharmaceutical company of the year and the most respected MNC About our products

Six Pfizer brands feature among the Top 100 pharmaceutical brands in India Two of Pfizer India's brands -- Corex (Cough Formulation) and Becosules (Multivitamin) -continue to rank among the Top 15 pharmaceutical drug brands

Pfizer has won the Golden Peacock Innovative Product for Magnex (Sulperazon) Becosules has won the Most Trusted Brand Award Going beyond medicines

In India, Pfizer instituted the first ever Disease Management Programme -- Healthy Heart in Cardio Vascular Disease (Hypertension, Chronic Stable Angina and Dyslipidemia), in partnership with Apollo Hospital, Hyderabad and Apollo Hospital, Chennai

We offer Patient Assistance Programmes for Glaucoma, Breast Cancer and Neuropathic Pain We partner with physician associations to develop recommendations / guidelines of managing specific diseases

SANOFI INDIA LTD

HISTORY Sanofi has a rich history of innovation dating back over 100 years. Sanofi was formed in 2004 when Sanofi-Synthlabo (created from 1999 merger of Sanofi and Synthlabo) acquired Aventis (the result of the 1999 merger of Hoechst and Rhne-Poulenc). Sanofi was founded in 1973 by the French oil company Elf Aquitaine, when it acquired the pharmaceutical group Labaz. Sanofi expanded through a combination of international acquisitions and internal product development epitomized by the launch of its first major product, Ticlid. Sanofi entered the American market in 1994 with the acquisition of Sterling Winthrop. Innovation remained centre stage and in 1986 the prestigious Prix Galien was awarded for Sanofis work on the anti-coagulant heparin and in 1987 for the anti-platelet drug Ticlid. Synthlabo was formed in 1970 with the merger of two French pharmaceutical laboratories, the Laboratoires Dausse (founded in 1834) and the Laboratoires Robert & Carrire (founded in 1899). Aventis was created in 1999, via the merger of the French company Rhne Poulenc and Hoechst Marion Roussel. Hoechsts history mirrors the expansion of the chemicals industry. Hoechst strengthened its existing drug-development engagement with the 1974 acquisition of Roussel-Uclaf, followed by its merger with the American pharmaceutical company Marion Merrell in 1995. As a result, Aventis had global reach and a strong foundation in innovative life science technologies. The company was one of the first to invest in the emerging new wave technologies of genomics, immunology and gene therapy. Rhne-Poulenc was created in 1928 when it was active in chemicals, textiles and pharmaceuticals. In the 1990s the company acquired the American pharmaceutical company Rorer (in two steps, 1990 and 1997), the vaccine laboratory Pasteur Mrieux Connaught (1994) and the British pharmaceuticals company Fisons (1995) to become an important global player in pharmaceuticals. Since 2004, Sanofi has developed as a diversified global healthcare company using innovation to meet the needs of patients throughout the world.

Today, the core strengths of Sanofi comprise a worldwide presence, market leadership in vaccines with sanofi pasteur, major biological products and a strong and long-established presence in emerging markets. Company business activities also include consumer healthcare products, generics and animal health products. Aventis Pharma Ltd is a pharmaceutical company that discovers, develops and markets branded prescription drugs and vaccines to protect and improve the quality of life of people around the world. The company provides medicines for the treatment of patients in several therapeutic areas such as Cardiovascular Disease, Thrombotic Diseases, Metabolic Disorders, Oncology, Disorders of the Central Nervous System, Internal medicine and Vaccines. They are having their manufacturing facilities at Ankleshwar in Gujarat and Verna in Goa. The company also manufactures their products on loan license which are manufactured in accordance with the same quality standards as those prevalent at their manufacturing sites. Aventis Pharma Ltd was incorporated in May 1956 under the name Hoechst Fedco Pharma Pvt Ltd. Over the years, the name was changed to Hoechst Pharmaceuticals Pvt Ltd, Hoechst India Ltd and Hoechst Marion Roussel Ltd. Sanofi-aventis, one of the world's leading pharmaceutical companies, and their 100% subsidiary, Hoechst GmbH, are the major shareholders of Aventis Pharma Ltd and together hold 50.12% of their paid-up share capital. During the year 1997-98, the joint venture company Chiron Behring Vaccines Pvt Ltd started to manufacture anti-rabbies vaccine 'Rabipur'. Roussel India Ltd was amalgameted with the company with effect from April 1 1997 and Hoechst Nepal (Pvt) Ltd, a subsidiary company in Nepal has been wound up during the year. During the year 1999-2000, Aventis has launched anti-diabetic Amaryl broad spectrum anti-infective Tavanic and line extension of anti-hypertensive Cardace H. In the year 2001, Rhone-Poulenc Rorer (India) Pvt Ltd was amalgamated with the company. The company name was changed from Hoechst Marion Roussel Ltd to Aventis Pharma Ltd with effect from July 11 2001. In July 2003. the company launched Lantus, the world's first and only once a day insulin and in December 2003, Actonel, designed for the treatment of osteoporosis was launched. In the year 2004, the company came under the control of Sanofi-Synthelabo, now called sanofi-aventis which acquired indirect control 50.1% of the company's paid-up share capital. In the year 2006, the company completed the project for setting up additional facilities for manufacturing Combiflam Tablets in Ankleshwar, Gujarat. In the year 2007, the company launched Cardace H 10 mg as a comprehensive cardiovascular treatment option in hypertension at risk patients. In May 2007, the company launched a line extension, Amaryl M. A new granulation train

dedicated for production of Combiflam tablets was installed in Ankleshwar. This product which was being manufactured partly in a toll manufacturing site is now planned to be manufactured entirely in Ankleshwar. The company brands namely Combiflam, Cardace, Rabipur, Amaryl, Avil and AllegraTM feature in the top 100 brands of the retail market. In that, Cardace continues to be the number one cardiovascular brand in the Indian pharmaceutical market. The company plans to upgrade the capacities in Ankleshwar for the manufacture of Combiflam. Also, the Ankleshwar API plant will commence manufacture of Pentoxifylline which was so far imported and is the raw material for manufacture of Trental. The product will also be exported to Hungary. In April 2008, the company has launched a new prefilled diaposable insulin pen, SoloStar for use with the 24-hour insulin Lantus. This disposable insulin pen is to be used for the treatment of hyperglycemia in people with type 1 or type 2 diabetes.

INFORMATION TECHNOLOGY
Information Technology (IT) industry in India is one of the fastest growing industries. Indian IT industry has built up valuable brand equity for itself in the global markets. IT industry in India comprises of software industry and information technology enabled services (ITES), which also includes business process outsourcing (BPO) industry. India is considered as a pioneer in software development and a favorite destination for IT-enabled services.

The origin of IT industry in India can be traced to 1974, when the mainframe manufacturer, Burroughs, asked its India sales agent, Tata Consultancy Services (TCS), to export programmers for installing system software for a U.S. client. The IT industry originated under unfavorable conditions. Local markets were absent and government policy toward private enterprise was hostile. The industry was begun by Bombay-based conglomerates which entered the business by supplying programmers to global IT firms locatedoverseas.

During that time Indian economy was state-controlled and the state remained hostile to the software industry through the 1970s. Import tariffs were high (135% on hardware and 100% on software) and software was not considered an "industry", so that exporters were ineligible for bank finance. Government policy towards IT sector changed when Rajiv Gandhi became Prime Minister in 1984. His New Computer Policy (NCP-1984) consisted of a package of reduced import tariffs on hardware and software (reduced to 60%), recognition of software exports as a "delicensed industry", i.e., henceforth eligible for bank finance and freed from license-permit raj, permission for foreign firms to set up wholly-owned, export-dedicated units and a project to set up a chain of software parks that would offer infrastructure at below-market costs. These policies laid the foundation for the development of a world-class IT industry in India.

Today, Indian IT companies such as Tata Consultancy Services (TCS), Wipro, Infosys, HCL et al are renowned in the global market for their IT prowess. Some of the major factors which played a key role in India's emergence as key global IT player are:

Indian Education System

The Indian education system places strong emphasis on mathematics and science, resulting in a large number of science and engineering graduates. Mastery over quantitative concepts coupled with English proficiency has resulted in a skill set that has enabled India to reap the benefits of the current international demand for IT.

High Quality Human Resource

Indian programmers are known for their strong technical and analytical skills and their willingness to accommodate clients. India also has one of the largest pools of Englishspeaking professionals.

Competitive Costs

The cost of software development and other services in India is very competitive as compared to the West.

Infrastructure Scenario

Indian IT industry has also gained immensely from the availability of a robust infrastructure (telecom, power and roads) in the country .

In the last few years Indian IT industry has seen tremendous growth. Destinations such as Bangalore, Hyderabad and Gurgaon have evolved into global IT hubs. Several IT parks have

come up at Bangalore, Hyderabad, Chennai, Pune, Gurgaon etc. These parks offer Silicon Valley type infrastructure. In the light of all the factors that have added to the strength of Indian IT industry, it seems that Indian success story is all set to continue.

INFOSYS
Infosys Limited (formerly Infosys Technologies Limited) is an Indian multinational provider of business consulting, information technology, software

engineering and outsourcing services. It is headquartered in Bangalore, Karnataka Infosys is the third-largest India-based IT services company by 2012 revenues, and the second largest employer of H-1B visa professionals in the United States, as of 2012. On 28 March 2013, its market capitalisation was $30.8 billion, making it India's sixth largest publicly traded company. History Infosys was co-founded in 1981 by Narayan Murthy, Nandan Nilekani, N. S. Raghavan, S. Gopalakrishnan, S. D. Shibulal, K. Dinesh and Ashok Arora after they resigned from Patni Computer Systems. The company was incorporated as "Infosys Consultants Pvt Ltd." with a capital of $250 in Model Colony, Pune as the registered office and signed up its first client, Data Basics Corporation, in New York. In 1983, Infosys corporate headquarters was relocated to Bangalore. It changed its name to "Infosys Technologies Private Limited" in April 1992. It changed its name to "Infosys Technologies Limited" when it became a public limited company in June 1992. It was renamed to "Infosys Limited" in June 2011. In 1999, Infosys achieved Capability Maturity Model level 5 certification. On 1 June 2013, Mr. Narayana Murthy, one of the founding members of Infosys and its long time CEO, returned back from his retirement to assume office in Infosys as its Executive Chairman. His return was on Board's request to bring the company back on track. Infosys has been consistently ranked by Glassdoor.com and other worldwide Researchers and former employees as the "worst" place to work. Employees often complain of the rigid and unexplained policies, disappointingly low salaries, and working overtime. Currently, Infosys is the employer with the highest attrition rate of 67%. Besides, it was discovered in independent surveys that new employees generally quit the company after working for an average of one year and five months. Locations Infosys has 87 global software development centers of which 32 are in India and 55 are outside India. It has 69 sales offices around the world of which 2 are in India and 67 are outside India. In recent years, Infosys has begun shifting operations to the United States and other countries outside of India. In 2012, Infosys announced a new office in Milwaukee, Wisconsin to service Harley-Davidson, being the 18th international office in the United States. Infosys hired 1,200 United States employees in 2011, and expanded the workforce by an additional 2,000 employees in 2012.[21] Globally, Infosys has 67 offices between the US, India, China, Australia, Japan, Middle East, United Kingdom, Germany, France, Switzerland, Netherlands, Poland, Canada.

Initiatives

Infosys Foundation In 1996, Infosys established the Infosys Foundation, to support the underprivileged sections of society. At the outset, the Infosys Foundation implemented programs in Karnataka. It subsequently covered Tamil Nadu, Andhra Pradesh, Maharashtra, Odisha, and Punjab in a phased manner. A team at the Foundation identifies programs in the areas of Healthcare, Education, Culture, Destitute Care and Rural Development. Academic Entente Infosys' Global Academic Relations team forges Academic Entente (AcE) with academic and partner institutions. It explores co-creation opportunities between Infosys and academia through case studies, student trips and speaking engagements. They also collaborate on technology, emerging economies, globalization, and research. Some initiatives include research collaborations, publications, conferences and speaking sessions, campus visits and campus hiring. Infosys Labs Infosys Labs is organized as a global network of research labs and innovation hubs. Infosys Labs collaborates with leading national and international universities such as the University of Southern California Viterbi School of Engineering, University of Cambridge, Queensland University of Technology, University of Illinois at Urbana Champaign, Indian Institute of Technology Bombay, IITB-Monash Research Academy, Purdue University, International Institute of Information Technology, Bangalore. Awards and Recognitions Infosys was ranked #19 amongst the world's most innovative companies by Forbes. Boston Consulting Group has listed it in the list of top ten technology companies for total shareholder return. Infosys was in the list of top twenty green companies in Newsweek's Green Rankings for 2012. Infosys was voted India's most admired company in The Wall Street Journal Asia 200every year since 2000. Its corporate governance practices were recognized by The Asset Platinum awardand the IR Global Rankings. It was also ranked as the 15th most trusted brand in India by The Brand Trust Report. Infosys Cloud Ecosystem Hub won the 2012 Golden Peacock Award for the most innovative product/service.

ORACLE FINANCIAL SERVICES SOFTWARE LTD

Oracle Financial Services Software Limited (formerly called i-flex Solutions

Limited BSE: 532466) is a subsidiary of Oracle Corporation. It is an IT solution provider to the banking industry. It claims to have more than 900 customers in over 145 countries. Oracle Financial Services Software Limited is ranked No. 9 in IT companies of India and overall ranked No. 253 in Fortune India 500 list in 2011. Oracle Financial Services Software Limited (erstwhile i-flex solutions) (OFSSL) is a world leader in providing IT solutions to the financial services industry. The Company was incorporated in September 27, 1989 as Citicorp Information Technology Industries Ltd. The Company addressing the entire financial services space through a comprehensive portfolio of products, IT services, consulting and knowledge process outsourcing services. With the experience of delivering value-based IT solutions to over 810 financial institutions across 130 countries. OFSSL has 14 development centers across India, Singapore and the USA. The Company has a strong global reach with a sales, marketing and support presence in 27 overseas locations operating across four subsidiaries (i-flex solutions inc. in the USA, i-flex solutions b.v. in the Netherlands, i-flex solutions pte. ltd. in Singapore and iPSL in India). In addition, 30 corporate business partners and 32 implementation partners represent i-flex across the globe. The Company also has strong alliance and/or implementation relationships with industry leaders such as Hewlett-Packard, IBM, Sun Microsystems and Intel. CITIL (Citicorp Information Technology Industries Limited), spun off from COSL (Citicorp Overseas Software Limited), commences first year of operations in the year 1992. In 1995, CITIL gains recognition for establishing world-class processes and quality Standards, It attained SEI CMM Level 4, becomes the first financial software firm in the world and one out of six companies worldwide to achieved this distinction at that time. CITIL established the Center of Excellence during the year 1996 for business intelligence to provide specialized consulting and software products, as well as services in data warehousing and business intelligence. A complete banking product suite for retail, consumer, corporate, investment and internet banking, consumer lending, asset management and investor servicing, including payments (SWIFTNet and SEPA) was launched in the year 1997 under the name of FLEXCUBE. MicroBanker becomes the 6th international banking product in the world to be used by 100 customers in 1998 and the FLEXCUBE starts gaining traction and international leadership. During the year 1999, FLEXCUBE Information Center, a Web-enabled business

intelligence system was launched along with a Center of Excellence for CRM and the Java Center for financial services also established. CITIL was renamed as i-flex solutions limited in the year 2000. During the same year 2000, Center of Excellence for e-services launched Separate business unit established to address the Applications Services Provider (ASP) market. i-fl ex solutions b.v., a 100 percent subsidiary of the company opened in Amsterdam, The Netherlands. The company's financial software development facilities were established in the year 2001 at Pune and Chennai and fully owned subsidiaries set up in USA and Singapore, i-flex solutions b.v. in Amsterdam, The Netherlands, becomes operational, i-fl ex Consulting was launched. EBZ Online, a software company was joined with the company during the year 2002 through which i-flex's product, Flexcube, for made available to cooperative banks. Dotex International, a joint venture company supported by NSE.IT and iflex Solutions Ltd, signed a memorandum of understanding (MoU) with BgSE Financials Ltd, a subsidiary of the Bangalore Stock Exchange, to give Internet trading service to the members of the exchange. The Company entered into capital market with Initial Public Offering (IPO) of an issue of 3,961,700 equity shares. I-flex opened its first Overseas Software Development Center in Singapore in the year 2002. In the year 2003, the company's flagship product FLEXCUBE ranked the world's No.1 selling Universal Banking Solution and during the same year 2003, I-flex sets up development centre in New York, Wins a major order from HypoVereinsbank Group (HVB Group), Germany, Inaugurated FLEXCUBE Support & Prime Sourcing Solutions Centre in London and acquisition of Super Solutions Corporation in all cash deal of .5 million was made. Waters Magazine ranked Mantas as the Best Anti-Money Laundering Solution and Best Compliance Solution for 2003. Waters Magazine ranked Mantas as the Best Anti-Money Laundering Solution for 2003 and also for 2004. During the year 2004, i-flex opened its wholly owned holding company in US, namely i-flex America, for carrying out all future acquisitions in the USA. The FLEXCUBE 10.0 was released in 2007, it helps financial institutions respond faster to market dynamics and define and track processes, while ensuring compliance. The suite also equipped with SWIFT 2007 enhancements and supports SEPA payment processing. New Version of FLEXCUBE Core Banking for IBM System z active from April 2008. During August of the year 2008, the company changed its name from I-flex solutions Limited to Oracle Financial Services Software Limited. FLEXCUBE, Reveleus, Daybreak, Mantas, PrimeSourcing, i-flex Consulting and iPFB are trademarks of i-flex solutions and are registered in several countries. Together, Oracle and i-flex solutions offer financial services institutions the world's most

comprehensive and contemporary banking applications and want to embark technology footprint that address their complex IT and business requirements.

Products and services Oracle Financial Services Software Limited has two main streams of business. The products division (formerly called BPD Banking products Division) and PrimeSourcing. The company's offerings cover retail, corporate and investment banking, funds, cash management, trade, treasury, payments, lending, private wealth management, asset management and business analytics. The company undertook a rebranding exercise in the latter half of 2008. As part of this, the corporate website was integrated with Oracle's website and various divisions, services and products renamed to reflect the new identity post alignment with Oracle. Recently,Oracle Financial Services launched products for Internal Capital Adequacy Assessment Process, exposure management, enterprise performance management and energy and commodity trading compliance.

Markowitz Model
Markowitz used mathematical programming and statistical analysis in order to arrange for the optimum allocation of assets within the portfolio. To reach this objective, Markowitz generated portfolios within a reward-risk context. Markowitzs model is a theoretical framework for the analysis of risk return choices. Decisions are based on the concept of efficient portfolios. To select efficient portfolio, according to Markowitz model we should select the securities which have maximum return at given level of risk and at the same time these securities should also be less co-related with each other. So, that change in the value of one security does not bring change in the value of another security in order to minimise the risk of fall in the value of portfolio. So, first of all here we have to identify minimum co-related securities i.e. securities with minimum co-relation. And then we will find the return and risk for the particular portfolio.

CORRELATION MATRIX:-

j&k SBI PFIZER SANOFI INFOSYS ORACLE FIN.

SBI PFIZER 1 0.349271 1 0.044438 0.128079 1 0.107688 0.073373 0.223212 0.096326 0.180063 -0.03688 0.124189 0.204217 0.163451

j&k

SANOFI

INFOSYS

ORACLE FIN.

1 -0.0046

1 1

0.01977 0.186886

According to Markowitz model, the securities which have least correlation will be selected to construct portfolio. In this case, two securities INFOSYS LTD and PFIZER LTD are selected because the correlation between them is -0.03688 which is least among all other combination.

MEAN SD VARIANCE CORELATION

INFOSYS PFIZER -0.06191 0.040614 1.663844 1.226037 2.768378 -0.03688 1.503168

Calculation of weightage:

Wx =

2y x * y * rxy 2x + 2y 2 *x*x*rxy

WX= 0.356942

Wy

= 1 - wx = 1 - 0.356942

WY = 0.643058

Portfolio Risk: 2p = w2X 2X + w2Y 2Y + 2wx wy rxy x y 2p = 0.939768

p = 0.969417

 Portfolio Return: Rp= WxRx + WyRy

Where, Rp= Return of portfolio w= Weight of security R=Return of security

w Infosys(x) 0.356942

Expected Return (R) -0.06191

W Expected return -0.0221 +

Pfizer (Y)

0.643058 =

0.040614

0.026117 0.00402

Portfolio Return(RP)

Interpretation: As we have evaluated INFOSYS LTD and PFIZER LTD and found that the returns are low (0.00402) & risk is (0.1044) which means money invested in these company will not fetch returns as per investors expected return. We have very low return for given two securities. So the investor should avoid investing in these companies. And if investor is keen to invest in these sectors then he should invest in these two companies in order to maximize return and minimise risk. If investor is willing to take higher risk and have some strong internal information about the companies which can increase the market value of the company then only investor should invest in that company. Now, if we look at the other possible combination having less co-relation we can find that INFOSYS LTD and SANOFI INDIA LTD ltd having co-relation of -0.0046 which is also near that of INFOSYS LTD AND PFIZER LTD . So, we can also build our portfolio by

considering these two securities. So, now we will calculate risk and return for both these companies.

Mean S.D Variance(2) RXY

INFOYSIS(x) -0.061907017 1.66 2.768378026 -0.0046

SANOFI(y) 0.007351569 1.364 1.860885927

Calculation of weightage:

Wx =

2y x * y * rxy 2x + 2y 2 *x*y*rxy

(1.364)2 (1.66)*(1.364)*(-0.0046) (1.66)2 + (1.364)2 2*(1.66) (1.364) (-0.0046)

wx

= 0.404472

Wy

= 1 - wx = 1 - 0.404472

Wy = 0.595528 Portfolio Risk: 2p = w2X 2X + w2Y 2Y + 2wX wY rXY X Y 2p = 1.107 p = 1.0525

Portfolio Return:

Expected Return (R) -0.0619 0.007352

INFOYSIS.(x) SANOFI(y)

0.40 0.60

W Expected return -0.02476 0.004411

Portfolio Return(RP) = Interpretation:

-0.02035

As we have evaluated INFOSYS LTD & SANOFI INDIA LTD and found that the returns are negative (-0.02035) & risk is (1.0525) which means money invested in these company will not fetch returns as per investors expected return. We have negative return for given two securities. So the investor should avoid investing in these companies. And if investor is keen to invest in these sectors then he should invest in these two companies in order to maximize return and minimise risk than to previous two companies which are INFOSYS LTD AND PFIZER LTD. As these two companies have higher return than previous two companies against minor increase in risk and co-relation between these two securities. So, if investor is not more risk adverse than he can invest in these companies in order to minimise his loss.

If investor is willing to take higher risk and have some strong internal information about the companies which can increase the market value of the company then only investor should invest in these companies.