Submitted To :

Hafiz Waqas
Submitted By:
Arooj Fatima 0017
Ayesha Asif

0021

Amna Tariq

0029

SEC: 4-A M-COM

MCB Bank Limited

(formerly Muslim Commercial Bank) previously named as a (Manjoo Co-operative

Bank) was incorporated by the Adamjee Group on July 9, 1947, under the Indian
Companies Act, VII of 1913 as a limited company. The bank was established to
provide banking facilities to the business community of South Asia. The bank was
nationalized in 1974 during the government of Zulfikar Ali Bhutto. This was the first
bank to be privatized in 1991 and the bank was purchased by a consortium of
Pakistani corporate groups led by Nishat Group. As of June 2008, the Nishat Group
owns a majority stake in the bank. The president of the bank is Imran Maqbool.
The group has a presence in business sectors of the country such as banking,
textile, cement and insurance.
Mian Muhammad Mansha is the Chairman of the group (and also MCB).

KASB MODARABA
KASB Modaraba is a multipurpose, perpetual and multi dimensional Modaraba, It is
managed by KASB INVEST (Private) Limited.
KASB Modaraba is an Islamic Financial Institution extending financial facilities to its
customers on Islamic principles of Shariah.
As per directive issued by the SECP Vide their letter Dated November 11, 2014,
KASB Invest (Pvt.) Limited took over the Management Control of the following two
Modarabas with effect from November 13, 2014:
First Prudential Modaraba
First Pak Modaraba

FIRST PAK MODARABA

First Pak Modaraba (the Modaraba) is a multipurpose, perpetual Modaraba. The
Modaraba is registered under the Modaraba Companies and Modaraba (Floatation
and Control) Ordinance, 1980 and the Modaraba Companies and Modaraba Rules,
1981 and was managed by Royal Management Services (Pvt) Limited. In pursuance
of instructions received from Securities and Exchange Commission of Pakistan
(SECP), KASB Invest (Private) Limited has taken over the management and
administrative and control of First Pak Modaraba effective from November 14, 2014.

The Registered office of First Pak Modaraba is situated at 8-C, Block 6, PECHS,
Shahrah e Faisal, Karachi. The Modaraba is listed on Pakistan Stock Exchange. The
Modaraba is currently engaged in various modes of Islamic funding and business

with include ijarah financing, deployment and fund in musharika, morabaha and
invertment in securites.

Golden Arrow Selected Stocks Fund Limited

To be a leading investment company in financial industry with diversifying its
business activities by good asset allocation and generating better financial results
and yield to the stakeholders.
In recognition of our performance as fund managers, Thomson Reuters Lipper
ranked our Golden Arrow Selected Stock Fund at number 5 in the list of Top 100
Funds Worldwide as it generated returns of 105.29% in 2012
In 2012 the Golden Arrow Selected Stock Fund got ranked as the best performing
fund in Asia as well as in Pakistan
Top 25 Companies Award for the Year 2013 by the Karachi Stock Exchange Limited
in February 2015.

FIRST CAP MUTUAL FUND

A mutual fund is a professionally managed investment fund that pools money from
many investors to purchase securities.[1] While there is no legal definition of the
term "mutual fund", it is most commonly applied to so-called open-end investment
companies, which are collective investment vehicles that are regulated and sold to
the general public on a daily basis. [2]
In the United States mutual funds must be registered with the U.S. Securities and
Exchange Commission, overseen by a board of directors or board of trustees, and
managed by a Registered Investment Advisor. Mutual funds are subject to an
extensive and detailed regulatory regime set forth in Investment Company Act of
1940.[3] Mutual funds are not taxed on their income and profits if they comply with
certain requirements under the U.S. Internal Revenue Code.
Mutual funds have both advantages and disadvantages compared to direct
investing in individual securities. Today they play an important role in household
finances, most notably in retirement planning.
There are three types of U.S. mutual funds: open-end funds, unit investment trusts,
and closed-end funds. The most common type, open-end funds, must be willing to
buy back shares from investors every business day. Exchange-traded funds (ETFs)
are open-end funds or unit investment trusts that trade on an exchange. [4] Nonexchange-traded open-end funds are most common, but ETFs have been gaining in
popularity.
Mutual funds are generally classified by their principal investments. The four main
categories of funds are money market funds, bond or fixed income funds, stock or

equity funds, and hybrid funds. Funds may also be categorized as index (or
passively managed) or actively managed.

Data Analysis:
We consider the data for various indicators of Price Index of various financial
institutions for last 15 years and analyze the following results:

Sample:
Dependent
Variables
Price Index

Independent
Variables
Market Value
Earnings per

Share
Book value per

Share
Total Assets
Earnings per
share as reported
Market value by
Company
Market
capitalization

We took the 5 major

banks as a sample,
which are The Bank of
Punjab, Bank of Khyber,
Islamic Bank Pakistan,
MCB bank and NIB bank.

Population:
We took last 15 years
data of these banks.

Variables:

A
variable is either a result
of
some force or is itself
the force that causes a change in another variable. In experiments, these are called
dependent and independent variables respectively. When a researcher gives an
active drug to one group of people and a placebo , or inactive drug, to another
group of people, the independent variable is the drug treatment. Each person's
response to the active drug or placebo is called the dependent variable. This could
be many things depending upon what the drug is for, such as high blood pressure or
muscle pain. Therefore in experiments, a researcher manipulates an independent
variable to determine if it causes a change in the dependent variable

 VARIABLES
Price Index:
The consumer price index (CPI) is a measure that examines the weighted average of
prices of a basket of consumer goods and services, such as transportation, food and
medical care.

FORMULA:

Market Value
The price an asset would fetch in the marketplace. Market value is also commonly
used to refer to the market capitalization of a publicly-traded company, and is
obtained by multiplying the number of its outstanding shares by the current share
price. Market value is easiest to determine for exchange-traded instruments such as
stocks and futures, since their market prices are widely disseminated and easily
available, but is a little more challenging to ascertain for over-the-counter
instruments like fixed income securities. However, the greatest difficulty in
determining market value lies in estimating the value of illiquid assets like real
estate and businesses, which may necessitate the use of real estate appraisersand
business valuation experts respectively.

FORMULA

Market to Book Ratio

Price per Share/Book value per share

EARNING PER SHARE:

Earnings per share (EPS) is the portion of a company's profit allocated to each
outstanding shareof common stock. Earnings per share serves as an indicator of a
company's profitability.

FORMULA:

Book Value per Share:

The book value per share formula is used to calculate the per share value of a
company based on its equity available to common shareholders. The term "book
value" is a company's assets minus its liabilities and is sometimes referred to as
stockholder's equity, owner's equity, shareholder's equity, or simply equity.

FORMULA
Book Value per Share =Shareholders' Equity Preferred Shares\Total
Number of Outstanding Shares

Market capitalization
Market Capitalization is just a fancy name for a straightforward concept: it is the
market value of a company's outstanding shares. This figure is found by taking the
stock price and multiplying it by the total number of shares outstanding.

Formulas :
Market Capitalization = Current Stock Price x Shares Outstanding

Results
SUMMARY OUTPUT

Regression Statistics
Multiple R
0.900700531
R Square
0.833322222
Adjusted R
0.808356719
Square
Standard
54.98712324
Error
Observations
1067
ANOVA
df
Regression
Residual
Total

SS
MS
F
8 11775305.73 1471913.216 987.6324.6437374203
957 27377724.2 1154.595865
4
965
145145290

Coefficients
Intercept

12.08797694

X Variable 1

1.867487139

Standard
t Stat
P-value
Error
4.50500912 4.825391383
1.63E-06
5
0.03760397 49.66073818 4.203292187776-267
5

X Variable 2

1.000014002

X Variable 3
X Variable 4
X Variable 5

346.1835898
13.23457456
1.224448982
2.143878906
4.939395178
1.000021042

X Variable 6
X Variable 7
X Variable 8

1.00003937
6
2.4063E+15
0.156743
0.37472898
8
0.91217987
3
5.26179597
2
4.97712E-05

0.355608596

0.729997723

12.69182355
13.56712246
-3.26759622

3.17E-34
0.036544368
0.001123244

2.350282596
4.739712055
0.422772883

0.018961391
2.46E-06
0.672555951

Significance F
0

Lower 95%

Upper 95%

7.17170459
1.793645374
-6.327E-05
22.13500862
0.000674325
-1.959825909

17.0035943
1.941236905
9.12746E-05
30.23217101
1.996793842
-0.489072054

-3.933981232

-0.35377658

-35.26538396

-14.6134064

-0.000118715

7.66315E-05

Lower
95.0%
7.17170459
1.793645374
-6.327E-05
22.13500862
2.76554321
1.959825909
3.933981232
35.26538396
0.000118715

Upper 95.0%
17.0035943
1.941236905
9.12746E-05
30.23217101
1.544320761
-0.489072054
-0.35377658
-14.6134064
7.66315E-05

Interpretations
Regression Test:
In statistical modeling, regression analysis is a statistical process for estimating the
relationships among variables. It includes many techniques for modeling and
analyzing several variables, when the focus is on the relationship between a
dependent variable and one or more independent variables (or
'predictors').Regression analysis is widely used for prediction and forecasting, where
its use has substantial overlap with the field of machine learning. Regression
analysis is also used to understand which among the independent variables are
related to the dependent variable, and to explore the forms of these relationships

Hypothesis:
Ho =

There is negative relation between Price Index and other variables

H1 =

There is Positive relation between Price Index and other Variables.

The following result shows that:

R square:
R square will explain the total variations in the dependent variable which is Price
Index as explained by the independent variables/predictors/explanatory/ variables
of the model. The value of R square can range between 0 and 1, and the higher its
value the more accurate the regression model is. It is often referred to as a
percentage.
In this model the value of the R square is

R Square = 0.833322222

Adjusted R square:
It is the adjusted vale of R square as per the sample size of the study. Better the
sample size means better the value of the adjusted R square and vice versa
In this model the value of adjusted R square is

Adjusted R Square

ANOVA Test:

=0.808356719

In this ANOVA test two values that are F, and sig F tells us the Model is good fit or
Unfit.

F-test:
f-Test will tells about the goodness of the fit for the model.
Y=

f x1+x2+x3+x4+x5+x8

Where;
X1= Market value of the Share
X2= Total Assets
X3= Earnings per SHR
X4= Earnings per share
X5= Market value by Company
X6= Book value per Share
X7= Earnings per Share as Reported
X8= Market Capitalization.

Intercept:
The value of dependent variable price index will be is this 12.08797694 even the
value of independent is 0
X1:
The coefficient value of variable 1 is B1= 1.867
Conclusion:
There will be 1% chance of error in it and 99% we are sure about it. The
one unit change in x variable cause 1.867 much change in dependent
variable in price index
X2;
The coefficient value of variable 2 is B2= 1.000
Conclusion:

There will be 72% chance of error in it and we are not sure about it. The
one unit change in x variable cause 1.000 much change in dependent
variable in price index
X3:
The coefficient value of variable 3 is B3= 346.18
Conclusion:
There will be 1% chance of error in it and 99% we are sure about it. The
one unit change in x variable cause 346.18 much change in dependent
variable in price index
X4:
The coefficient value of variable 4 is B4= 13.2345

Conclusion:
There will be 5% chance of error in it and 95% we are sure about it. The
one unit change in x variable cause 13.2345 much change in dependent
variable in price index
X5:
The coefficient value of variable 5 is B5= -1.2244
Conclusion:
There will be 1% chance of error in it and 99% we are sure about it. The
one unit change in x variable cause -1.2244 much change in dependent
variable in price index
X6:
The coefficient value of variable 6 is B6= -2.1438
Conclusion:
There will be 5% chance of error in it and 95% we are sure about it. The
one unit change in x variable cause -2.1438 much change in dependent
variable in price index
X7:
The coefficient value of variable 7 is B7= -4.9393

Conclusion:
There will be 1% chance of error in it and 99% we are sure about it. The
one unit change in x variable cause -4.9393 much change in dependent
variable in price index
X8:
The coefficient value of variable 8 is B= -1.0000
Conclusion:
There will be 67% chance of error in it and we are not sure about it. The
one unit change in x variable cause -1.000 much change in dependent
variable in price index