Equities of Anil-Share Khan

A comparative Study on Equity Analysis
1.1 INTRODUCTION TO THE FINANCE:

FINANCIAL MANAGEMENT:
Financial management is that managerial activity which is concerned with the planning & controlling of the firms financial reason as a separate activity of discipline it is of recent origin. Still today it has no unique body of knowledge of its own and draws heavily from economic for the theoretical concepts.
OBJECTIVES OF FINANCIAL MANAGEMENT:

It is obvious that the modern approach to financial management is that the firm has to make at least four decisions viz, 1. Investment or long-run asset mix decision. 2. Financial or capital mix decision. 3. Dividend or profit allocation decision. 4. Liquidity or short term asset mix decision These decisions relate to the firms investment & financial policies the financial decisions are unavoidable & continuous. In order to make rationally the firm must have an objective it is generally agreed that the financial objective of the firm should the maximization of owners economic welfare. However there is disagreement as to how the economic welfare of owners can maximize. Two well know criteria put forth for this purpose are
1. INVESTMENT DECISION:
Of a firm relates to the selection of assets in which includes will be invested by firm assets which can acquire fall in 2 categories: Long term assets Short term assets or current assets.
Financial management is concerned with the profitable and proper investment of funds in these assets with help of capital budgeting & working capital management techniques R.G.M.C.E.T. Nandyal 1
A comparative Study on Equity Analysis 2. FINANCING DECISIONS:

Of firm relate to choice of different source and the proportion of these sources to finance the investment requirements of the financing decision is with the financing mix or capital structure and other related activities
3. DIVIDEND DECISION:
Is the third major decision area of financial management the dividend decision comes into picture while dealing with profit distribution i.e., dividend or relation in this area talking into account .Different dimensions should be make regarding what proportion profit be distributed as dividend and what should be retained.
4. LIQUIDITY DECISION:
Current assets management which affects a firms liquidity is yet another important finance function in addition to the management of long term assets current assets should be managed efficiently for safeguarding the firms against the dangers of illiquidity and insolvency investment in current assets firms profitability liquidity and risk.
1.2 INTRODUCTION TO THE EQUITIES:
R.G.M.C.E.T. Nandyal

Investment may be defined as an activity that commits funds in any financial form in the present with an expectation of receiving additional return in the future. The expectations bring with it a probability that the quantum of return may vary from a minimum to a maximum. This possibility of variation in the actual return is known as investment risk. Thus every investment involves a return and risk. Investment is an activity that is undertaken by those who have savings. Savings can be defined as the excess of income over expenditure. An investor earns/expects to earn additional monetary value from the mode of investment that could be in the form of financial assets. The three important characteristics of any financial asset are: Return-the potential return possible from an asset. Risk-the variability in returns of the asset form the chances of its value going down/up. Liquidity-the ease with which an asset can be converted into cash. Investors tend to look at these three characteristics while deciding on their individual preference pattern of investments. Each financial asset will have a certain level of each of these characteristics.
INVESTMENT AVENUES:
There are a large number of investment avenues for savers in India. Some of them are marketable and liquid, while others are non-marketable. Some of them are highly risky while some others are almost risk less.
Investment avenues can be broadly categorized under the following heads:
CORPORATE SECURITIES:
R.G.M.C.E.T. Nandyal 3

Equity shares. Preference shares. Debentures/Bonds. Derivatives. Others.
CORPORATE SECURITIES:
Joint stock companies in the private sector issue corporate securities. These include equity shares, preference shares, and debentures. Equity shares have variable dividend and hence belong to the high risk-high return category; preference shares and debentures have fixed returns with lower risk. The classification of corporate securities that can be chosen as investment avenues can be depicted as shown below:
Equity Shares
Preference shares
Bonds
Warrants
Derivatives
EQUITY SHARES:
By investing in shares, investors basically buy the ownership right to the company. When the company makes profits, shareholders receive their share of the profits in the form of dividends. In addition, when company performs well and the future expectation from the company is very high, the price of the companys shares goes up in the market. This allows shareholders to sell shares at a profit, leading to capital gains. Investors can invest in shares either through primary market offerings or in the secondary market.

The primary market has shown abnormal returns to investors who subscribed for the public issue and were allotted shares. This policy statement provides general guidelines for determining whether the shares of a small business meet the definition of "equity share" under the Act. It does not address every type of right or restriction that may be attached in some manner to the shares of a small business, nor does it replace or negate the requirements of the Act or accompanying regulations. The policies contained in this statement have drawn on experiences derived from administering the program since 1985. As a result of these experiences, some past policy positions have been modified to ensure all equity share investments are made in accordance with both the technical requirements and "spirit and intent" of the Act.
STOCK EXCHANGE:
In a stock exchange a person who wishes to sell his security is called a seller, and a person who is willing to buy the particular stock is called as the buyer. The rate of stock depends on the simple law of demand and supply. If the demand of shares of company x is greater than its supply then its price of its security increase. In Online Exchange the trading is done on a computer network. The sellers and buyers log on to the network and propose their bids. The system is designed in such ways that at any given instance, the buyers/sellers are bidding at the best prices.
TYPES OF STOCKS:
Stock typically takes the form of shares of common stock (or voting shares). As a unit of ownership, common stock typically carries voting rights that can be exercised in corporate decisions. Preferred stock differs from common stock in that it typically does not carry voting rights but is legally entitled to receive a certain level of dividend payments before any dividends can be issued to other shareholders. Convertible preferred stock is preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Shares of such stock are called "convertible preferred shares (or "convertible preference shares in the United Kingdom). Although there is a great deal of commonality between the stocks of different companies, each new equity issue can have legal clauses attached to it that make it R.G.M.C.E.T. Nandyal 5

dynamically different from the more general cases. Some shares of common stock may be issued without the typical voting rights being included, for instance, or some shares may have special rights unique to them and issued only to certain parties. Note that not all equity shares are the same. The transaction cycle for purchasing and selling shares online is depicted below:
Client
Member/ Broking firm.
Stock Exchange (BSE / NSE)
Member/ Broking firm.
Client
HISTORY:
During Roman times, the empire contracted out many of its services to private groups called publican. Shares in publican were called "socii" (for large cooperatives) and "particulate" which were analogous to today's Over-The-Counter shares of small companies. Though the records available for this time are incomplete, Edward Chancellor states in his book Devil Take the Hindmost that there is some evidence that a speculation in these shares became increasingly widespread and that perhaps the first ever speculative bubble in "stocks" occurred. The first company to issue shares of stock after the Middle Ages was the Dutch East India Company in 1606. The innovation of joint ownership made a great deal of Europe's economic growth possible following the Middle Ages. The technique of pooling capital to finance the building of ships, for example, made the Netherlands a maritime superpower. Before adoption of the joint-stock corporation, an expensive venture such as the building of a merchant ship could be undertaken only by governments or by very wealthy individuals or families.

Economic Historians find the Dutch stock market of the 1600s particularly interesting: there is clear documentation of the use of stock futures, stock options, short selling, the use of credit to purchase shares, a speculative bubble that crashed in 1695, and a change in fashion that unfolded and reverted in time with the market (in this case it was headdresses instead of hemlines). Dr. Edward String ham also noted that the uses of practices such as short selling continued to occur during this time despite the government passing laws against it. This is unusual because it shows individual parties fulfilling contracts that were not legally enforceable and where the parties involved could incur a loss. String ham argues that this shows that contracts can be created and enforced without state sanction or, in this case, in spite of laws to the contrary.
SHAREHOLDERS:
A shareholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. Companies listed at the stock market are expected to strive to enhance shareholder value. Shareholders are granted special privileges depending on the class of stock, including the right to vote (usually one vote per shares owned) on matters such as elections to the board of directors, the right to shares in distributions of the company's income, the right to purchase new shares issued by the company, and the right to a company's assets during a liquidation of the company. However, shareholder's rights to a company's assets are subordinate to the rights of the company's creditors. Shareholders are considered by some to be a partial subset of stakeholders, which may include anyone who has a direct or indirect equity interest in the business entity or someone with even a non-pecuniary interest in a non-profit organization. Thus it might be common to call volunteer contributors to an association stakeholders, even though they are not shareholders. Although directors and officers of a company are bound by fiduciary duties to act in the best interest of the shareholders, the shareholders themselves normally do not have such duties towards each other.

However, in a few unusual cases, some courts have been willing to imply such a duty between shareholders. For example, in California, USA, majority shareholders of closely held corporations have a duty to not destroy the value of the shares held by minority shareholders. The largest shareholders (in terms of percentages of companies owned) are often mutual funds, and especially passively managed exchange-traded funds.
APPLICATION:
The owners of a company may want additional capital to invest in new projects within the company. They may also simply wish to reduce their holding, freeing up capital for their own private use. By selling shares they can sell part or all of the company to many part-owners. The purchase of one share entitles the owner of that share to literally shares in the ownership of the company, a fraction of the decision-making power, and potentially a fraction of the profits, which the company may issue as dividends. In the common case of a publicly traded corporation, where there may be thousands of shareholders, it is impractical to have all of them making the daily decisions required to run a company. Thus, the shareholders will use their shares as votes in the election of members of the board of directors of the company. In a typical case, each share constitutes one vote. Corporations may, however, issue different classes of shares which may have different voting rights. Owning the majority of the shares allow other shareholders to be out-voted - effective control rests with the majority shareholder. In this way the original owners of the company often still have control of the company.
SHAREHOLDERS RIGHTS:
Although ownership of 51% of shares does result in 51% ownership of a company, it does not give the shareholder the right to use a company's building, equipment, materials, or other property. This is because the company is considered a legal person, thus it owns all its R.G.M.C.E.T. Nandyal 8

assets itself. This is important in areas such as insurance, which must be in the name of the company and not the main shareholder. Even though the board of directors runs the company, the shareholder has some impact on the company's policy, as the shareholders elect the board of directors. Each shareholder typically has a percentage of votes equal to the percentage of shares he or she owns. So as long as the shareholders agree that the management is performing poorly they can elect a new board of directors which can then hire a new management team. In practice, however, genuinely contested board elections are rare. Board candidates are usually nominated by insiders or by the board of the directors themselves, and a considerable amount of stock are held and voted by insiders. Owning shares does not mean responsibility for liabilities. If a company goes broke and has to default on loans, the shareholders are not liable in any way. However, all money obtained by converting assets into cash will be used to repay loans and other debts first, so that shareholders cannot receive any money unless and until creditors have been paid (most often the shareholders end up with nothing).
EQUITY INSTRUMENTS:
Equity instruments include equity shares, some types of preference shares and warrants or written call options that allow the holder to subscribe for or purchase a fixed number of equity shares in the issuing enterprise in exchange for a fixed amount of cash or another financial asset. An obligation of an enterprise to issue a fixed number of its own equity instruments in exchange for a fixed amount of cash or another financial asset is an equity instrument of the enterprise. An issuer of equity shares assumes a liability when it formally acts to make a distribution and becomes legally obligated to the shareholders to do so. This may be the case following the declaration of a dividend or when the enterprise is being wound up and any assets remaining after the satisfaction of liabilities become distributable to shareholders.
PROHIBITED RIGHTS AND RESTRICTIONS:

The wording of regulation section 3(1)3 setting out the prescribed rights and restrictions are very general. The following comments are provided to assist program users in

understanding some of the specific types of rights and restrictions that would be prohibited under this section 3. S. 3(1) Subject to the Act, prescribed rights and restrictions, for the purposes of the definition of "equity share" in the Act, are rights and restrictions attached to the share or rights and restrictions contained in or forming part of an agreement, commitment or Understanding in respect of the share that (a) Create a debt between the holder or beneficial owner of the share and any other person, (b) Impair or will impair the ability of a venture capital corporation to maintain the levels of equity capital invested in eligible investments required by section 8 of the Act, (c) Impair or will impair the ability of a corporation, in which a venture capital corporation has made an eligible investment, to carry on an ongoing business with a reasonable expectation of profit, or
TRADING:
A stock exchange is an organization that provides a marketplace for either physical or virtual trading shares, bonds and warrants and other financial products where investors (represented by stock brokers) may buy and sell shares of a wide range of companies. A company will usually list its shares by meeting and maintaining the listing requirements of a particular stock exchange and the different. In the United States, through the inter-market quotation system, stocks listed on one exchange can also be bought or sold on several other exchanges, including relatively new so-called ECNs. In the USA stocks used to be broadly grouped into NYSE-listed and NASDAQ-listed stocks. Until a few years ago there was a law that NYSE listed stocks were not allowed to be listed on the NASDAQ or vice versa.
Many large non-U.S companies choose to list on a U.S. exchange as well as an exchange in their home country in order to broaden their investor base. These companies have R.G.M.C.E.T. Nandyal 10

then to ship a certain amount of shares to a bank in the US (a certain percentage of their principal) and put it in the safe of the bank. Then the bank where they deposited the shares can issue a certain amount of so-called American Depositary shares, short ADS (singular). If someone buys now a certain amount of ADSs the bank where the shares are deposited issues an American Depository Receipt (ADR) for the buyer of the ADSs. Likewise, many large U.S. companies list themselves at foreign exchanges to raise capital abroad.
ARBITRAGE TRADING:
Although it makes sense for some companies to raise capital by offering stock on more than one exchange, a keen investor with access to information about such discrepancies could invest in expectation of their eventual convergence, known as an arbitrage trade. In today's era of electronic trading, these discrepancies, if they exist, are both shorter-lived and more quickly acted upon. As such, arbitrage opportunities disappear quickly due to the efficient nature of the market.
BUYING:
There are various methods of buying and financing stocks. The most common means is through a stock broker. Whether they are a full service or discount broker, they arrange the transfer of stock from a seller to a buyer. Most trades are actually done through brokers listed with a stock exchange, such as the New York Stock Exchange. There are many different stock brokers from which to choose, such as full service brokers or discount brokers. The full service brokers usually charge more per trade, but give investment advice or more personal service; the discount brokers offer little or no investment advice but charge less for trades. Another type of broker would be a bank or credit union that may have a deal set up with either a full service or discount broker.
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There are other ways of buying stock besides through a broker. One way is directly from the company itself. If at least one share is owned, most companies will allow the purchase of shares directly from the company through their investor relations departments. However, the initial shares of stock in the company will have to be obtained through a regular stock broker. Another way to buy stock in companies is through Direct Public Offerings which are usually sold by the company itself. A direct public offering is an initial public offering in which the stock is purchased directly from the company, usually without the aid of brokers. When it comes to financing a purchase of stocks there are two ways: purchasing stock with money that is currently in the buyers ownership, or by buying stock on margin. Buying stock on margin means buying stock with money borrowed against the stocks in the same account. These stocks, or collateral, guarantee that the buyer can repay the loan; otherwise, the stockbroker has the right to sell the stock (collateral) to repay the borrowed money. He can sell if the share price drops below the margin requirement, at least 50% of the value of the stocks in the account. Buying on margin works the same way as borrowing money to buy a car or a house, using the car or house as collateral. Moreover, borrowing is not free; the broker usually charges 8-10% interest.
SELLING:
Selling stock is procedurally similar to buying stock. Generally, the investor wants to buy low and sell high, if not in that order although a number of reasons may induce an investor to sell at a loss, e.g., to avoid further loss. As with buying a stock, there is a transaction fee for the broker's efforts in arranging the transfer of stock from a seller to a buyer. This fee can be high or low depending on which type of brokerage, full service or discount, handles the transaction. After the transaction has been made, the seller is then entitled to all of the money. An important part of selling is keeping track of the earnings. Importantly, on selling the stock, in jurisdictions that have them, capital gains taxes will have to be paid on the additional proceeds, if any, that are in excess of the cost basis. Equity Share Characteristics
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The definition of an equity share under section 1(1) of the Act specifically states that the share may or may not carry voting rights to elect a companys board of directors. The equity share definition also states that the share cannot carry prescribed rights and restrictions. This requirement recognizes that VCCs or EBC investors (herein referred to as investors)may invest in voting preferred, as well as common, shares or in unit offerings of a small business. However, some limitations are necessary to ensure that the investors hold a true equity investment that is at risk both as to return of capital and return on capital.
The book value of equity will change in the case of the following events: Changes in the firm's assets relative to its liabilities. For example, a profitable firm receives more cash for its products than the cost at which it produced these goods, and so in the act of making a profit it is increasing its assets. Depreciation. Equity will decrease, for example, when machinery depreciates, which is registered as a decline in the value of the asset, and on the liabilities side of the firm's balance sheet as a decrease in shareholders' Equity Issuance of new equity in which the firm obtains new capital increases the total shareholders' equity shares repurchases, in which a firm gives back money to its investors, reducing on the asset side its financial assets, and on the liability side the shareholders' equity
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1.3 INDUSTRY PROFILE: INTRODUCTION TO BSE:

Bombay Stock Exchange is the oldest stock exchange in Asia with a rich heritage, now spanning three centuries in its 133 years of existence. What is now popularly known as BSE was established as "The Native Share & Stock Brokers' Association" in 1875. BSE is the first stock exchange in the country which obtained permanent recognition (in 1956) from the Government of India under the Securities Contracts (Regulation) Act 1956. BSE's pivotal and pre-eminent role in the development of the Indian capital market is widely recognized. Over the past 133 years, BSE has facilitated the growth of the Indian corporate sector by providing it with an efficient access to resources. There is perhaps no major corporate in India which has not sourced BSE's services in raising resources from the capital market. Today, BSE is the world's number 1 exchange in terms of the number of listed companies and the world's 5th in transaction numbers. The market capitalization as on December 31, 2007 stood at USD 1.79 trillion. An investor can choose from more than 4,700 listed companies, which for easy reference, are classified into A, B, S, T and Z groups. The BSE Index, SENSEX, is India's first stock market index that enjoys an iconic stature, and is tracked worldwide. It is an index of 30 stocks representing 12 major sectors. The SENSEX is constructed on a 'free-float' methodology, and is sensitive to market sentiments and market realities. Apart from the SENSEX, BSE offers 21 indices, including 12 sectoral indices BSE has tied up with U.S. Futures Exchange (USFE) for U.S. dollar-denominated futures trading of SENSEX in the U.S. The tie-up enables eligible U.S. investors to directly participate in India's equity markets for the first time, without requiring American Depository Receipt (ADR) authorization. The first Exchange Traded Fund (ETF) on SENSEX, called "SPICE" is listed on BSE. It brings to the investors a trading tool that can be easily used for the purposes of investment, trading, hedging and arbitrage. SPICE allows small investors to take a long-term view of the market.
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BSE provides an efficient and transparent market for trading in equity, debt instruments and derivatives. It has a nation-wide reach with a presence in more than 450 cities and towns of India. BSE has always been at par with the international standards. The systems and processes are designed to safeguard market integrity and enhance transparency in operations. BSE is the first exchange in India and the second in the world to obtain an ISO 9001:2000 certifications. It is also the first exchange in the country and second in the world to receive Information Security Management System Standard BS 7799-2-2002 certification for its BSE On-line Trading System (BOLT). BSE continues to innovate. In recent times, it has become the first national level stock exchange to launch its website in Gujarati and Hindi to reach out to a larger number of investors. It has successfully launched a reporting platform for corporate bonds in India christened the ICDM or Indian Corporate Debt Market and a unique ticker-cum-screen aptly named 'BSE Broadcast' which enables information dissemination to the common man on the street. In 2006, BSE launched the Directors Database and ICERS (Indian Corporate Electronic Reporting System) to facilitate information flow and increase transparency in the Indian capital market. While the Directors Database provides a single-point access to information on the boards of directors of listed companies, the ICERS facilitates the corporate in sharing with BSE their corporate announcements
AWARDS:
The World Council of Corporate Governance has awarded the Golden Peacock Global CSR Award for BSE's initiatives in Corporate Social Responsibility (CSR). The Annual Reports and Accounts of BSE for the year ended March 31, 2006 and March 31 2007 have been awarded the ICAI awards for excellence in financial reporting. The Human Resource Management at BSE has won the Asia - Pacific HRM awards for its efforts in employer branding through talent management at work, health management at work and excellence in HR through technology
VISION:

"Emerge as the premier Indian stock exchange by establishing global benchmarks"
PROMINENT POSITION:
The journey of BSE is as eventful and interesting as the history of India's securities market. In fact, as India's biggest bourse, in terms of listed companies and market capitalization, BSE has played a pioneering role in the development of the Indian securities market. It is surely BSE's pride that almost every leading corporate in India has sourced BSE's services in capital rising and is listed with BSE. Even in terms of an orderly growth, much before the actual legislations were enacted, BSE had formulated a comprehensive set of Rules and Regulations for the securities market... It had also laid down best practices which were adopted subsequently by 23 stock exchanges which were set up after India gained its independence. BSE, as a brand, has been and is synonymous with the capital market in India. Its SENSEX is the benchmark equity index that reflects the health of the Indian economy.
SENSEX - The Barometer of Indian Capital Markets
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A comparative Study on Equity Analysis INTRODUCTION TO SENSEX:

SENSEX, first compiled in 1986, was calculated on a "Market CapitalizationWeighted" methodology of 30 component stocks representing large, well-established and financially sound companies across key sectors. The base year of SENSEX was taken as 1978-79. SENSEX today is widely reported in both domestic and international markets through print as well as electronic media. It is scientifically designed and is based on globally accepted construction and review methodology. Since September 1, 2003, SENSEX is being calculated on a free-float market capitalization methodology. The growth of the equity market in India has been phenomenal in the present decade. Right from early nineties, the stock market witnessed heightened activity in terms of various bull and bear runs. In the late nineties, the Indian market witnessed a huge frenzy in the 'TMT' sectors. More recently, real estate caught the fancy of the investors. SENSEX has captured all these happenings in the most judicious manner. One can identify the booms and busts of the Indian equity market through SENSEX. As the oldest index in the country, it provides the time series data over a fairly long period of time (from 1979 onwards). Small wonder, the SENSEX has become one of the most prominent brands in the country. SENSEX Calculation Methodology: SENSEX is calculated using the "Free-float Market Capitalization" methodology, wherein, the level of index at any point of time reflects the free-float market value of 30 component stocks relative to a base period. The market capitalization of a company is determined by multiplying the price of its stock by the number of shares issued by the company. This market capitalization is further multiplied by the free-float factor to determine the free-float market capitalization. The base period of SENSEX is 1978-79 and the base value is 100 index points. This is often indicated by the notation 1978-79=100. The calculation of SENSEX involves dividing the free-float market capitalization of 30 companies in the Index by a number called the Index Divisor. The Divisor is the only link to the original base period value of the SENSEX. It keeps the Index comparable over time and is the adjustment point for all Index adjustments arising out of corporate actions, replacement of scrips etc. During market hours, prices of the
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index scrips, at which latest trades are executed, are used by the trading system to calculate SENSEX every 15 seconds. The value of SENSEX is disseminated in real time. SENSEX - SCRIP SELECTION CRITERIA: The general guidelines for selection of constituents in SENSEX are as follows: LISTED HISTORY: The scrip should have a listing history of at least 3 months at BSE. Exception may be considered if full market capitalization of a newly listed company ranks among top 10 in the list of BSE universe. In case, a company is listed on account of merger/ demerger/ amalgamation, minimum listing history would not be required. TRADING FREQUENCY: The scrip should have been traded on each and every trading day in the last three months at BSE. Exceptions can be made for extreme reasons like scrip suspension etc. FINAL RANK: The scrip should figure in the top 100 companies listed by final rank. The final rank is arrived at by assigning 75% weightage to the rank on the basis of three-month average full market capitalization and 25% weightage to the liquidity rank based on threemonth average daily turnover & three-month average impact cost. MARKET CAPITALIZATION WEIGHTAGE: The weightage of each scrip in SENSEX based on three-month average free-float market capitalization should be at least 0.5% of the Index. INDUSTRY/SECTOR REPRESENTATION: Scrip selection would generally take into account a balanced representation of the listed companies in the universe of BSE. TRACK RECORD: In the opinion of the BSE Index Committee, the company should have an acceptable track record.
GLOSSARY:

BID A bid is the demand for a security on behalf of an investor that is entered by the syndicate/sub-syndicate members in the system. The two main components of a bid are the price and the quantity. BIDDER The person who has placed a bid in the Book Building process. BOOK RUNNING LEAD MANAGER The lead merchant bankers appointed by the Issuer Company are referred to as the Book Running Lead Managers. The names of the Book Running Lead Managers are mentioned in the offer document of the Issuer Company. FLOOR PRICE The minimum offer price below which bids cannot be entered. The Issuer Company in consultation with the Book Running Lead Managers fixes the floor price. MERCHANT BANKER An entity registered under the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1999. SYNDICATE MEMBERS The Book Running Lead Managers to the issue appoint the Syndicate Members, who enter the bids of investors in the book building system. Syndicate Members are intermediaries registered with SEBI who also carry on the activity of underwriting. ORDER BOOK It is an 'electronic book' that shows the demand for the shares of the company at various prices on a real time basis.
NATIONAL STOCK EXCHANGE:

A comparative Study on Equity Analysis THE ORGANIZATION:

The National Stock Exchange of India Limited has genesis in the report of the High Powered Study Group on Establishment of New Stock Exchanges, which recommended promotion of a National Stock Exchange by financial institutions (FIs) to provide access to investors from all across the country on an equal footing. Based on the recommendations, NSE was promoted by leading Financial Institutions at the behest of the Government of India and was incorporated in November 1992 as a tax-paying company unlike other stock exchanges in the country. OUR MISSION: NSE's mission is setting the agenda for change in the securities markets in India. NSE OBJECTIVES: Establishing a nation-wide trading facility for equities, debt instruments and hybrids, Ensuring equal access to investors all over the country through an appropriate communication network, Providing a fair, efficient and transparent securities market to investors using electronic trading systems, Enabling shorter settlement cycles and book entry settlements systems, and Meeting the current international standards of securities markets. The standards set by NSE in terms of market practices and technology has become industry benchmarks and is being emulated by other market participants. NSE is more than a mere market facilitator. It's that force which is guiding the industry towards new horizons and greater opportunities.
TRADING:

NSE introduced for the first time in India, fully automated screen based trading. It uses a modern, fully computerized trading system designed to offer investors across the length and breadth of the country a safe and easy way to invest. The NSE trading system called 'National Exchange for Automated Trading' (NEAT) is a fully automated screen based trading system, which adopts the principle of an order driven market. OTHER INDICES:
CRITERIA FOR SELECTION OF CONSTITUENT STOCKS:

S&P CNX Nifty CNX Nifty Junior CNX 100 S&P CNX 500 CNX Midcap Nifty Midcap 50 S&P CNX Defty CNX Midcap 200 CNX IT Index CNX Bank Index CNX FMCG Index CNX PSE Index CNX MNC Index CNX Service Sector Index S&P CNX Industry Indices Customized Indices CNX Energy Index CNX Pharma Index CNX Infrastructure Index CNX PSU BANK Index CNX Realty Index S&P CNX Nifty Shariah / S&P CNX 500 Shariah
S&P ESG India Index
The constituents and the criteria for the selection judge the effectiveness of the index. Selection of the index set is based on the following criteria: MARKET CAPITALIZATION: A companys rank on market capitalization is an important consideration for its inclusion in the Index.
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INDUSTRY REPRESENTATION: S&P CNX 500 Equity Index reflects the market as closely as possible. In order to ensure that this is accomplished, industry weightages in the index mirror the industry weightages in the universe. Consequently, companies to be included in the index are selected from the industries which are underrepresented in the index. S&P CNX 500 Equity Index currently contains 72 industries, including one category of diversified companies and one category of miscellaneous. The number of industries in the Index and the number of companies within each industry have been kept flexible, in order to ensure that the Index retains its objective of being a dynamic market indicator. TRADING INTEREST: S&P CNX 500 Equity Index includes those companies which have a minimum listing record of 6 months on the Exchange. In addition these companies must have demonstrated high turnover and trading frequency. FINANCIAL PERFORMANCE: S&P CNX 500 Equity Index includes companies that have minimum record of three years with a positive net worth.
1.4 COMPANY PROFILE:

INVESTSMART:
IL&FS and E*TRADE are promoters of Investsmart. IL&FS Investsmart Limited (IIL) is one of Indias leading financial services organizations providing individuals and corporate with customized financial management solutions established in 1997 and started online trading in 2001. IL&FS was promoted by the Central Bank of India (CBI), Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI). Over the years, IL&FS has broad-based its shareholding and inducted Institutional shareholders R.G.M.C.E.T. Nandyal 22

including State Bank of India, Life Insurance Corporation of India, ORIX Corporation - Japan and Abu Dhabi Investment Authority IL&FS is widely recognized as the pioneer of Public Private Partnership in India. Today IL&FS has evolved into a prominent institution that harnesses the power of Public Private Partnership, to develop and finance infrastructure projects across a variety of sectors. Almost uniquely, IL&FS has succeeded in turning infrastructure capacity creation into a commercially viable proposition. Infrastructure projects are developed in conjunction with Governments, financing agencies, private sector partners and communities. This unique Public Private Partnership helps to leverage limited public funds, reduce life cycle cost, develop and execute more projects on a sustainable basis IL&FS is committed to providing projects with financial investment, managerial expertise and inputs that ensure efficiency in service delivery. Offers a full range of financial, project development and management services. These services include investment banking, project financing, project development, management and implementation, asset management, merchant banking, corporate advisory services and back office services. At IIL, believe in "Realizing customer goals together". The strong team of Relationship Managers, Customer Service Executives, Advisory Managers and Research Analysts, offers efficient execution backed by in-depth research, knowledge and expertise to customers across the country. With a pan-India presence of over 300 offices, IIL is geared to meet all customer investment needs through an office near by.
PROMOTERS FOR INVESTSMART:

1) E*Trade is a US based global retail leader in financial services listed at NASDAQ. A pioneer in the field of internet broking. E*Trade Mauritius limited, an indirectly wholly- owned subsidiary of E*Trade Financial corporation, identifies strategic investment opportunities through out the Indian Ocean rim. In the year 2006 company buys stake in ILFS Investsmart limited. And increased its share continuously to 43.85% Advising over 4.5 million customers from over 40 countries Over Rs.7410 billion in customer assets, Amongst the initiators in global investing (multiple markets, multiple currency) R.G.M.C.E.T. Nandyal 23
2) Infrastructure Leasing & Financial Services Limited (IL&FS) is one of India's leading infrastructure development and finance companies Total assets size of over Rs.80 Billion. Known for its innovative & pioneering initiatives in the areas of Infrastructure & Corporate Finance, recipient of The India Innovation Award 2005, awarded by The President of India Current shareholding includes LIC, State Bank of India, HDFC, ORIX Corporation Japan and Abu Dhabi Investment Authority
THE TEAM:
IL&FS Invests marts main strength lies in its formidable team. This team comprising highly qualified and experienced personnel has been responsible for the overall management of the company and has provided direction in diverse areas of business strategy, operating management, regulatory reporting, human resources development and product development No wonder then, IL&FS Investsmart currently caters to more than 70,000 retail customers through 54 locations encompassing around 16 Indian states. Our network involves 29 branches. IL&FS Investsmart has a network of 300 offices across the country, employing 2200 people. It has 1, 50,000 equity and over 10,000 commodity customers and 130 institutional clients.
BOARD OF DIRECTORS: Managing Director & CEO Executive Director - Finance & Operations Executive Director - Retail Business Chief Technology Officer - Mr. James Leslie White ford - Mr. Sachin Joshi - Mr.Sandeep Presswala - Mr. Kersi Tavadia
Senior Vice President - Investment Banking - Mr. Avdhoot Deshpande
VISION STATEMENT:
To become the preferred long term financial partner to a wide base of customers whilst optimizing stake holders value R.G.M.C.E.T. Nandyal 24
MISSION STATEMENT:
To establish a base of 1 million satisfied customers by 2010. We will create this by being a responsible and trustworthy partner
CORPORATE ACTION:
An approach to business that reflects Responsibility, Transparency and Ethical Behavior. Respect for Employees, Clients & Stakeholder groups
ASSOCIATE COMPANIES:
IL&FS Investsmart Limited IL&FS Investsmart Securities Limited IL&FS Investsmart Commodities Limited IL&FS Investsmart Insurance & Risk Management Services Limited IL&FS Academy for Insurance & Finance Limited IL&FS Investsmart Asia-Pacific Pvt. Limited IL&FS Investment Financial Services Limited IL&FS Investsmart is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) and its global depository shares are listed on the Luxembourg Stock Exchange
REASONS TO CHOOSE INVESTSMART:

Today, IL&FS Investsmart Limited is one of Indias leading financial services organization delivering value and innovation to over 100,000 customers through more than 300 offices across the India 7 Reasons why investing with IL&FS Investsmart Limited is smarter 1) CUSTOMIZATION: Formulates investment plans based on customer individual requirements 2) EXPERTISE: Brings within customer reach, about institutional expertise and companies valuable understanding of the financial markets 3) ONE-STOP SHOP: Caters to all customers investment needs under one roof. R.G.M.C.E.T. Nandyal 25

4) TRUST: Enjoys the pedigree of IL&FS and share its expertise in financial services. 5) PERSONALIZED SERVICE: Helps customer through the entire investment process, step by step, with innovative and efficient services. 6) UNBIASED & OBJECTIVE ADVICE: We partner you in your investment process, with our team of expert investment advisors 7) EXTENSIVE REACH: Through a host of mediums: - Offline through more than 300 offices across India. - Online through our website
PRODUCTS PROVIDED:
Broking - Equity, Derivatives, Commodities, Debt. Distribution - Mutual funds, Debentures, Bonds/Gilts, IPOs, Home loans, Insurance
DIVISIONS:

Investment Advisory and Broking Division Merchant Banking Division Project Syndication Division Institutional Equity Broking Division Institutional Debt Broking division
RETAIL OFFERINGS:
Wealth Management Services Portfolio Management Services Securities Broking-Equities and derivatives Depository & Custodial Service & Distribution of financial products.
INSTITUTIONAL OFFERINGS:
Merchant Banking Product Syndication Institutional Equity Broking and Sales R.G.M.C.E.T. Nandyal 26

Institutional Debt Broking and Sales.
SERVICES:
1) Post Trade -Custodial, 2) Depository Services 3) Payment Gateway 4) Other back office support
ONLINE BANKS TIE-UPS FOR TRADING:

Company having online transaction tie-ups with banks like
COMPANY ACHIEVEMENTS:
Chosen as the Best Performing Financial Advisor in Retail Segment at the CNBC TV 18 National Financial Advisory Awards two years in a row 2006-2007 / 2007-2008
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Won the Prudential ICICI No 1(National Category) Chairman Award 2006 Silver Category
Won the Fidelity award for outstanding sales Fixed income 06-07
COMPANY COMPETITORS:
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2.1 NEED OF THE STUDY:
In the investment market, it is necessary to find out every aspect of the business due to competition, particularly, in evaluating and determination of investment decisions. These investment decisions plays a crucial part for an investor, the selection (or) choosing the best alternative of investment decisions depends on the performance of the company itself and in the market place The present study and analysis evaluates the financial performance of different AUTOMOBILE & IT companies. From which, the investors can came to know whether to invest or not to invest in the particular company.
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2.2 OBJECTIVES OF THE STUDY
To understand what Equity markets are. To understand the performance of few Indian industry sectors viz. pharmaceutical & Infrastructure To make comparative analysis of inter and intra sectors, basing on past Three months data (December08-February 09). To evaluate the investment prospects of these companies.
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2.3 RESEARCH METHODOLOGY:

The data that is used in this project is of secondary nature. The data is to be collected from secondary sources such as various websites, journals, newspapers, books, etc., the analysis used in this project has been done using selective technical tools. In Equity market, risk is analyzed and trading decisions are taken on basis of technical analysis. Sample size of the industry sector: 2 sectors (pharmaceutical & Infrastructure) Sample size of the companies in each sector: 3.
2.3.1DATA SOURCES OF FINANCIAL INFORMATION: SECONDARY DATA: MARKET DATA:

1. Stock Exchange daily official list. 2. Directory of the stock Exchange. 3. RBIs weekly statistical supplements. 4. Newspapers. 5. The reports and Newsletter of investment brokerage and counseling firm.
COMPANY DATA:
1. Companys Annual Reports and prospectuses. 2. Stock Exchange official directory. R.G.M.C.E.T. Nandyal 31

3. Newspapers, Brokerage firms, and news columns.
ONLINE SOURCES:
1. CLINE-OLE. 2. VANS (VANS INFORMATIO SOURCES LTD.). 3. IL&FS Investsmart.com
2.3.2 DATA COLLECTION INSTRUMENTS OBSERVATION METHOD The observation method is the most commonly used method. It is not a scientific observation. Under the information method, the information is sought by way of investigators own direct observation with asking from the respondent.
TYPES OF OBSERVATION:
1. PARTICIPANT OBSERVATION: If the observer observes by making himself, more or less a member of the group observing so that he can experience what the members of the group experience
2. NON-PARTICIPANT OBSERVATION: When the observer observes as adetached emissary without any attempt on his part to his experience through participation what others feel, the observation of this type is often termed as non-participant observation. 3. UNCONTROLLED OBSERVATION: If the observation takes place in the natural setting, it may be termed as uncontrolled observation 4. CONTROLLED OBSERVATION: When observations takes place according to definite pre-arranged plans, involving experimental procedure, the same is termed controlled observation R.G.M.C.E.T. Nandyal 32
2.3.3 DATA ANALYSIS: TECHNICAL ANALYSIS: FINANCIAL MARKETS - THE FORCES BEHIND THE MOVES:
This discussion was described in the "Investor's Chronicle" as "The most lucid explanation of how the financial markets work that I have seen: a worthwhile read for investors at all levels of expertise". INVESTING: STRATEGIC CONSIDERATIONS The type of trading advocated here is designed to permit rapid capital expansion while guarding against the risk of ruin. To be successful in the markets over the long-term a trader must have a winning strategy, and apply it consistently. A winning strategy: MUST BE CLEARLY DEFINED: The simpler the better. Remember, you can't forecast the market's next move, and neither can anyone else. Simple trading rules make for clear-cut and effective decisions (while most other participants are still trying to compute and weigh the implications of dozens of factors and indicators - and generally wallowing in a state of catatonic confusion, particularly if the market is not going their way - you will have acted, and will be calmly observing and waiting for a new signal).
MUST INCLUDE:
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Definition of the conditions which will trigger the opening and closing of positions (both to take profits and to cut losses).
Rules governing the size of position to be taken.
TRADING / INVESTING BASED ON TECHNICAL ANALYSIS:

INTRODUCTION: The objective of the technical trader is "To accumulate capital by maximising profits gained from favourable market moves while minimising losses suffered on unfavourable moves and transaction costs". In other words, profits must more than equal the sum of losses plus costs. The above may seem blindingly obvious, but it is at this simplest-possible level that most participants in the game fail, because they expend too great a proportion of their efforts on attempting to perfect forecasting techniques with a view to maximising the probability of profit, and pay insufficient attention to the strategies required to minimise losses. The first point to note is that the analytical technique(s) used by the trader must "Give him an edge" on the market, in other words produce better than random results: "MonteCarlo" systems, where stakes are doubled on even bets until a win is gained require enormous initial capital to avoid the risk of ruin. Suppose you bet $1000 on the toss of a coin, doubling the bet each time you lose, and reverting to $1000 when a win in gained. How much will you have won after 2500 throws, and what will your maximum bet have been ? This can be easily simulated using any spreadsheet program with a random function. I ran this simulation 25 times while writing this. Profits varied between $1,164,000 and 1,293,000, On two occasions consecutive runs of 15 occurred. Bets of $16,384,000 would then have been required to keep the sequence going (with no guarantee of success on the next try). No amount of mathematical tinkering can change the basic brutality of these numbers: You gotta have an edge. A note on transaction costs: The shorter the time-frame traded, the more important aggressive control of transaction costs becomes. An intra-day trader may be capturing 50R.G.M.C.E.T. Nandyal 34

point moves, while a position-trader who holds positions for days / weeks might be looking for 500 points. a few extra points of slippage (bid/offer spread) or dollars of commission may not matter too much to the latter, but intra-day trading performance can be seriously hurt by inefficient order execution and excessive commissions. Additionally, the intra-day trader must have on-line non-delayed quotes and charts (which cost money) whereas the position-trader can update charts manually. Basically, all technical traders should use discount brokers, negotiate commissions aggressively (on the basis of trading volume), and challenge execution prices which are out-of-line. In developing a "reliable edge", two ratios need to be optimised:

Frequency of profits / frequency of losses. Average profit / average loss.
These two ratios tend to be negatively correlated: for example, the trader who consistently aims to take 100-point profits while cutting losses as soon as they reach 10 points will obviously tend to be "stopped-out" frequently (causing a low profit to loss frequency ratio) but his average profit to average loss ratio will be high. Conversely, the trader who maximises P/L frequency by placing 200 point stops and 100 point targets will suffer fewer losses each of which will hurt more. Either or both of them may make or lose money over time depending on the quality of their underlying analysis and the consistency and discipline with which they apply their respective strategies. As a general "Rule of Thumb" : The trader should aim for three profits for every two losses, and a 3 to 1 average profit to average loss ratio. These targets leave room for considerable under-performance before the trading becomes unprofitable overall. (anyone who can achieve both objectives consistently will become very rich indeed). Note that a free program down-load to model trading results resulting from random sequences of profits / losses with defined probabilities will be posted to this site in June 1998. Before considering how to determine the size of positions to be taken, let's take a look at the basics of the technical analysis of market action necessary to determine whether to buy, sell or stand aside; and when to take action.
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MARKET VARIABLES: DIRECTION, MOMENTUM, VOLATILITY: LIQUIDITY:

DIRECTION: During any given time-frame a market can do one of three things: go up, go down, move sideways. Persistent moves in the same direction are generally referred-to as "Trends". MOMENTUM: Up and down-moves can be fast ("impulsive") or slow ("corrective" or "drifting") in nature (or in between). Note: The most important aspect of "Momentum" is not any absolute measurement of its value, but whether it is constant or changing. the key questions (to be answered from direct observation of the price-charts) are:
Is the current price-move speeding up (in which case you want to stay with / get into it) or slowing down (in which case, consider taking a position against it)
Is the current price-move faster or slower than the immediately preceding move in the opposite direction (expect the on-going trend to be in the direction of the faster of the two).
VOLATILITY: Can be low, with almost no price-swings away from and back to the underlying trend; high, with wide and erratic price-swings in both directions, or anywhere in between. Changes in volatility often signal changes in trend, often either in the form of either:

A sharp move against the direction of the current trend, or A reduction in activity and size of short-term price-swings.
LIQUIDITY: Can be high, with thousands of transactions being carried out on a continuous basis; or low, with only intermittent price-quote updates and transactions. In general terms technicaltrading is best suited to highly liquid markets because effective transaction-costs (bid-offer
36

spreads and commissions) are lower, and large orders can be placed without adversely affecting the market. NOTES:
Long-Term charts are reviewed only in order to observe major support and resistance levels.
Medium-term charts are reviewed in order to determine both the trend and intermediate support / resistance-levels.
Short-term charts are reviewed in order to evaluate current (and observe changes in) volatility and momentum.
Before amplifying the above statements and defining the terms used in detail, the following key points must be emphasised:
An "Investor" attempts to profit from major market swings which last many weeks / months (or even years). In monitoring his investments, and the general population of other investments into which he might switch, he should review monthly ("longterm"), weekly ("medium-term") and daily ("short-term") charts.
A "Position-Trader" attempts to profit from major market swings which last several days or weeks. In monitoring their trades, they also generally review monthly ("longterm"), weeky ("medium-term") and daily ("short-term") charts every day and with greater emphasis on the daily charts.
An "Intra-day Trader" attempts to profit from major market swings which last from minutes to hours, and always closes his positions overnight (or hands them on to a colleague in the next time-zone). In monitoring his trades, he should review hourly ("long-term"), 5-minute ("medium-term") and 1-minute ("short-term") charts.
That said, since price-charts are fractal in nature (ie self-similar irrespective of the time-frame being observed), there is absolutely no difference in the methods of analysis and decisionmaking to be applied. It is absolutely critical to success that which of these activities is being pursued is clearly understood and the appropriate actions consistently taken. Disaster frequently overtakes those who fail to take this simple but critical decision. The cynical definition of a "Long-Term Investment" is "A trade gone sour! (As when a trader buys a stock at 100, watches it go to 80, and then says "That's OK, it's a .........")
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A comparative Study on Equity Analysis THE TREND IS:

Up if successive Lows are higher than their predecessors. Down if successive Highs are lower than their predecessors. Flat if successive highs / lows are approximately level.
Notes: The trend shown on this bar chart is down (the strength of the current bounce indicates that it might be turning up, but in the absence of a higher low, and as no major resistances have been broken, the trend is down). Highs and lows are defined below. The trend is judged by reviewing the medium-term chart (the objective being to "catch" medium-term price-swings).
HIGHS / LOWS:
A "High" occurs when the top of a price-bar is higher than the tops of the two preceding and two following price-bars (or three or more equal price-bar tops are higher than the two on either side)
A "low" occurs when the bottom of a price-bar is lower than the bottoms of the two preceding and two following price-bars (or three or more equal price-bar bottoms are lower than the two on either side)
Isolated highs and lows are referred to as "Minor resistance" (above the market) and Minor support" (below the market). As noted above, minor resistance to an up-trend and minor support below the price in a down-trend are expected to break
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TRADING / INVESTING BASED ON TECHNICAL ANALYSIS:
To summaries:

Look at the Long-Term Charts to identify major support and resistance-levels. Look at the Medium-Term Chart to determine the current trend, trade in line with it so long as a reversal is not indicated by the pattern of highs and lows, and / or direction of "drift", and / or changes in momentum / volatility.
Look at the Short-Term Chart for additional clues relating to the way the market is acting (volatility, momentum and drift in particular).
Always sell tests of Major Resistance / buy tests of Major support. Expect the current trend to continue unless a counter-trend move is stronger than the previous "with-trend" move (in which case, place orders to reverse on a re-test of support / resistance with a stop beyond the next level of resistance to the presumed new trend)
METHOD OF CALCULATION:
The Data taken for the 2 sectors is 3 months Data (i.e.) 1st Dec 2008 to 28th Feb 2009 The data for calculation purpose is taken on weekly basis starting from Monday. The formulae used for calculating percentage change is
FORMULAE:
CURRENT WEEK PREVIOUS WEEK /PREVIOUS WEEK * 100
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A comparative Study on Equity Analysis 2.4 LIMITATIONS OF THE STUDY:
There are many other External factors like Inflation, Repo rates, CRR, political and many other which affect the stock performance of the industry which cant be studied in detail. Only past performances of the companies are analyzed and it is not the perfect measure to except the future performances. Even the global economy can affect the Pharmaceutical and Infrastructure sectors and it is not considered.
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A comparative Study on Equity Analysis 3. DATA ANALYSIS AND INTERPRETATION: Table 3.1 Weekly wise data of December Month 2008.
WEEKS st 1 week 5th Dec 2nd week 12thDec 3rd week 19thDec 4th week 26
th Dec
CIPLA 183.3 174.95 192.95 181.95
%Change 0 -4.55 10.28 -5.70 0.0075
SUN PHARMA 1008.75 1105.2 1088.75 1056.8
%Change 0 9.56 -1.48 -2.93 1.28
RANBAXY 208.85 209.85 217.15 216.9
%Change 0 0.47 3.47 -0.11 0.95
TOTAL AVG
Fig 3.1
INTERPRETATION:
In the month of December Cipla has decreased and again increased in case of Sun Pharma and Ranbaxy increased to certain extent and again decreased in next week. So there is fluctuating in the prices. When we compare them Sun Pharma showed a good amount of percentage change that comes to Cipla and Ranbaxy.
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A comparative Study on Equity Analysis Table 3.2 Weekly wise data of January Month 2009.
WEEKS 1st week 2nd Jan 2nd week 9th Jan 3rd week 16th Jan 4th week 23rd Jan 5th week 30th Jan TOTAL AVG 5 CIPLA 191.6 188.85 183.2 186.05 191.9 SUN %Change PHARMA 5.3 -1.43 -2.99 1.55 3.17 1.12 1048.75 1099.45 1119.90 1071.65 1074.45 RANBAX %Change Y -0.76 4.83 1.86 -4.3 0.26 0.37 250.25 219.1 218.15 188.1 215.85 %Change 15.37 -12.44 -0.43 -13.77 14.75 0.69
Fig 3.2
INTERPRETATION:
In the month of January Cipla and Ranbaxy decreased to certain extent and again increased but in case of Sun Pharma increase to certain extent and again decreased. In January Cipla and Ranbaxy has good percentage comparing to Sun Pharma. But if we over all percentage wise all the three shows positive performance.
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Table 3.3 Weekly wise data of February Month 2009
%Cha WEEKS 1st week 6th Feb 2nd week 13th Feb 3rd week 20th Feb 4th week 27th Feb TOTAL AVG CIPLA nge 191.20 191.75 188.35 191.50 -0.39 0.28 -1.77 1.67 -0.05
SUN PHARMA %Change 1056.45 1066.90 1022.35 1017.50 -1.67 0.98 -4.17 -0.47 -1.33
RANBAXY %Change 223.4 212.65 206.80 161.80 3.49 -4.81 -2.75 -21.76 -4.56
Fig 3.3
INTERPRETATION:
In the month of February all the three companies started of well but it ended with small decreases in the average closing. But Cipla is decreased and again increased. In this month Cipla shows a good percentage.
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A comparative Study on Equity Analysis Table 3.4 Overall percentage Change data of pharmaceutical Sector in Three Months
MONTHS DECEMBER JANUARY FEBRUARY TOTAL %
CIPLA% 0.0075 1.12 -0.05 0.35
SUN PHARMA% 1.28 0.37 -1.33 0.10
RANBAXY% 0.95 0.69 -4.56 -1.29
Fig 3.4
INTERPRETATION:
In Pharmaceutical sector three showed negative average percentage in the month of February. But if we see total percentage change wise it is showing positive performance but Ranbaxy shows a negative performance.
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A comparative Study on Equity Analysis Table 3.5 Weekly wise data of December Month 2008.
WEEKS 1st week 5th Dec 2nd week 12th Dec 3rd week 19th Dec 4th week 26th Dec TOTAL AVG G MR 58.65 64.7 71.55 67.85 %Cha nge 0 10.31 10.58 -5.17 3.93 RELIANCE %Change 532.1 650.4 619.65 543.05 0 22.23 -4.72 -12.36 1.28 LANCO 116.85 136.45 162.7 135.55 %Change 0 16.77 19.23 -16.68 4.83
Fig 3.5
INTERPRETATION:
In the month of December GMR has increased to 58.65 and again increased in next week and 4th week it will be decreases to certain extent. So there is fluctuating in the prices. When we compare all them Lanco showed a good amount of percentage change then comes GMR and Reliance.
Table 3.6 Weekly wise data of January Month 2009.

%Chang WEEKS 1st week 2nd Jan 2nd week 9th Jan 3rd week 16th Jan 4th week 23rd Jan 5th week 30th Jan TOTAL AVG GMR 85.15 66.95 72.75 72.6 73.6 e 25.49 -21.37 8.66 -0.2 1.37 2.79 RELIANCE 629.85 508.15 540.95 487.3 582.9 %Change O 15.98 -19.32 6.45 -9.91 19.61 2.56
LANC %Change 23.05 -33.99 5.26 -10.69 10.14 -1.24 166.80 110.10 115.90 103.50 114.00
Fig 3.6
INTERPRETATION:
In the month of January GMR, Reliance and Lanco decreased to certain extent. But GMR has good percentage compared to Reliance and Lanco. But if we see over all percentage wise GMR and Reliance shows positive performance and Lanco shows negative performance.
Table 3.7 Weekly wise data of February Month 2009

WEEKS GM %Cha RELIANCE %Change LANCO %Change 46

R 1st week 6th Feb 2nd week 13th Feb 3rd week 20th Feb 4th week 27th Feb TOTAL AVG 74 78.95 78.1 78.95 nge 0.54 6.68 -1.07 1.08 1.80 540.85 569.85 489.95 491.05 -7.21 5.36 -14.02 0.22 -3.91 111.75 137.30 120.25 126.10 -1.97 22.86 -12.41 4.86 3.33
Fig 3.7
INTERPRETATION:
In the month of February all the companies share prices are high but it ends small decreases in the average closing. But GMR and Lanco is decreased and again increased. In this month Lanco shows a good percentage (i.e., 3.33)
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Table 3.8 Overall percentage Change data of Infrastructure Sector in Three Months
MONTHS DECEMBER JANUARY FEBRUARY TOTAL %
GMR% 3.93 2.79 1.80 2.84 RELIANCE% 1.28 2.56 -3.91 -0.02 LANCO% 4.83 -1.24 3.33 2.30
Fig 3.8
INTERPRETATION:
If Infrastructure sector Lanco and Reliance shows negative average in the month of January and February.But if we see total percentage change wise GMR and Lanco shows positive performance but Reliance shows a negative performance.
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A comparative Study on Equity Analysis 4.1 FINDINGS:
In the month of December, Infrastructure sectors shows good performance when compare to Pharmaceutical sectors. In the month of January Infrastructure sectors and pharmaceutical sectors shows good performance but in infrastructure sector Lanco show negative performance In the month of February both Infrastructure and Pharmaceutical sectors negative performance this is because of the closing financial year. But in case of Infrastructure sectors GMR and Lanco shows the positive performances. In Pharmaceutical sector we can see Cipla and Ranbaxy perform well compare to Sun Pharma with small percentage of change (0.69 to 1.12). In Infrastructure sector we can see GMR and Lanco perform well compare to Reliance. Where it shows most of the positive values but their total performance change showed a negative performance If we compare both sectors Infrastructure shows and good performance compare to Pharmaceutical sector
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A comparative Study on Equity Analysis 4.2 SUGGESTIONS:
When it comes to Infrastructure sector internally it is better to invest in GMR
sector because it shows better performance compare to Lanco and Reliance sectors. When it comes to Pharmaceutical sector internally it is better to invest in Cipla
sector because it shows better performance compare to Sun Pharma and Ranbaxy. Over all comparison we came know to that Infrastructure sector is more boom
than pharmaceutical sector .So, I suggest to investor to invest in the Infrastructure sector compare to pharmaceutical sector.
4.3. CONCLUSION
Though the global economy is in recession period investors are showing interest in investing equities. Though the real estate boon decreases due to global economy crisis GMR Infrastructure shows an excellent performance and attracted the looks of all investors. In comparison of pharmaceutical and Infrastructure industries it has proved that Infrastructure shows a better performance.
5.APPENDIX
CIPLA
Average Series EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ Date 01-Dec-08 02-Dec-08 03-Dec-08 04-Dec-08 05-Dec-08 08-Dec-08 10-Dec-08 11-Dec-08 12-Dec-08 15-Dec-08 16-Dec-08 17-Dec-08 18-Dec-08 19-Dec-08 22-Dec-08 23-Dec-08 24-Dec-08 26-Dec-08 29-Dec-08 30-Dec-08 31-Dec-08 01-Jan-09 02-Jan-09 05-Jan-09 06-Jan-09 07-Jan-09 09-Jan-09 12-Jan-09 13-Jan-09 14-Jan-09 15-Jan-09 Prev Close 200.15 190 185.35 183.45 183.6 183.3 185.75 189 181.1 174.95 179.8 184.25 184 189.55 192.95 185.05 182 181.05 181.95 184 183.9 186.6 192.95 191.6 190.95 192.95 185.9 188.85 187.1 185.35 187.95 Open Price 199 190 185.35 186.4 184 183 187.05 186 180 178 180 185 183 188.4 193 183 182.1 182 184 182.5 184.1 187 194 194.8 191 194 182.5 185.05 185 185 187.5 High Price 205 190 188.7 186.4 188.85 190 190.8 187 180 181.9 185.45 187 193 195.95 193.35 187 182.95 185.5 184.95 185.85 188.1 194.8 196.1 195.7 195.95 195.95 191.45 189.9 189.65 189.5 187.5 Low Price 189.05 182.55 180 181 181.1 183 186.5 179.5 174.35 175.1 177.1 181.55 183 188.4 182 181.55 178.1 178.35 180.35 181 182.5 180.1 190.5 187.15 189.1 181.1 182.5 183 184 184.1 180.55 Last Price 189.2 185 182.9 183.05 182.9 185.8 188.7 181.1 175 180.2 184.25 183.95 187 191.85 185 181.95 181.25 184 183.15 183.5 187.6 193.05 191.9 191 193 185.05 185.3 186.5 184.35 188 181.5 Close Price 190 185.35 183.45 183.6 183.3 185.75 189 181.1 174.95 179.8 184.25 184 189.55 192.95 185.05 182 181.05 181.95 184 183.9 186.6 192.95 191.6 190.95 192.95 185.9 188.85 187.1 185.35 187.95 181.95 Price 197.53 185.43 183.27 183.22 186 187.23 188.4 182.12 175.24 178.04 183.7 183.83 190.38 194.05 186.76 182.83 181.13 182.74 182.97 183.43 185.33 190.35 193.85 190.1 193.33 186.27 188.54 185.12 186.5 187.79 182.9 Total Traded Quantity 1126716 1247573 1053061 1291499 839384 1684463 1082211 1825447 1944828 1589996 1376333 672655 1256384 1856538 1336879 1291512 3343976 569715 1316322 1010826 431718 646225 699934 769893 1454055 1050320 2172087 1451209 901712 854608 1173467 Turnover in Lacs 2,225.58 2,313.37 1,929.93 2,366.27 1,561.27 3,153.89 2,038.87 3,324.47 3,408.07 2,830.77 2,528.37 1,236.56 2,391.89 3,602.60 2,496.79 2,361.32 6,056.85 1,041.08 2,408.49 1,854.15 800.1 1,230.07 1,356.82 1,463.54 2,811.13 1,956.38 4,095.33 2,686.48 1,681.74 1,604.86 2,146.25
52

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 16-Jan-09 19-Jan-09 20-Jan-09 21-Jan-09 22-Jan-09 23-Jan-09 27-Jan-09 28-Jan-09 29-Jan-09 30-Jan-09 02-Feb-09 03-Feb-09 04-Feb-09 05-Feb-09 06-Feb-09 09-Feb-09 10-Feb-09 11-Feb-09 12-Feb-09 13-Feb-09 16-Feb-09 17-Feb-09 18-Feb-09 19-Feb-09 20-Feb-09 24-Feb-09 25-Feb-09 26-Feb-09 27-Feb-09 181.95 183.2 180.25 177.65 180.05 172.85 186.05 191.1 194.2 191 191.95 192.05 192.4 195.05 194 191.2 192.35 194.7 192.35 191 191.75 189.95 189.55 192.35 192 188.35 186 187 192.55 183 184 180 177 179 174 190 191 194 190.7 192 192.05 192 195.25 194.5 191.75 192.5 194 193 191 191.8 189 189.55 193 192 188 186.5 186 193.05 184.85 185 180 181.5 182 191.65 192.5 195 196.5 196.7 194 196 196.5 196.4 194.9 193.5 195.85 195 193.1 193.9 191.9 190.55 193.4 194.45 192.4 188 188.3 194.9 195.5 180.5 179.1 175.6 175.15 171.35 174 188 190.05 190 188.6 189 191.2 190.5 192.6 190.4 188.65 191 191.45 190 190.35 188.3 186.35 189.25 190.8 187 185.15 185.5 185.75 187.8 183.5 179.75 178.25 179 172.5 186.45 190.8 194.2 190.05 191.95 192.75 192.5 193.5 193.5 191.05 191.75 194.5 192.3 191.3 190.95 189.9 189.75 192.65 191.65 188.3 186.3 186.25 194 191.5 183.2 180.25 177.65 180.05 172.85 186.05 191.1 194.2 191 191.95 192.05 192.4 195.05 194 191.2 192.35 194.7 192.35 191 191.75 189.95 189.55 192.35 192 188.35 186 187 192.55 191.5 183.05 181.48 177.23 180.27 174.45 186.1 190.63 192.57 191.92 193.26 191.73 193.16 193.72 193.73 192.01 190.68 193.61 192.74 190.77 192.91 189.83 188.46 192.35 192.53 188.92 186.42 186.76 190.16 190.12 354218 497987 502791 571151 1178646 3318641 2256952 734560 1056632 1444472 2245568 784180 1683362 4309535 1339529 1021311 1379506 1976588 247387 943004 953703 1346506 1053146 515175 375266 540971 780987 895205 768972 648.41 903.74 891.12 1,029.63 2,056.21 6,175.84 4,302.34 1,414.55 2,027.87 2,791.62 4,305.38 1,514.71 3,260.95 8,348.78 2,572.02 1,947.39 2,670.82 3,809.58 471.94 1,819.17 1,810.43 2,537.67 2,025.70 991.85 708.94 1,008.49 1,458.59 1,702.32 1,461.99
SUN PHARMA
Average Series EQ Date 01-Dec-08 Prev Close 1,082.15 Open Price 1,035.05 High Price 1,149.85 Low Price 1,035.05 Last Price 1,071.00 Close Price 1,071.55 Price 1,076.78 Total Traded Quantity 416801 Turnover in Lacs 4,488.04
53

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 02-Dec-08 03-Dec-08 04-Dec-08 05-Dec-08 08-Dec-08 10-Dec-08 11-Dec-08 12-Dec-08 15-Dec-08 16-Dec-08 17-Dec-08 18-Dec-08 19-Dec-08 22-Dec-08 23-Dec-08 24-Dec-08 26-Dec-08 29-Dec-08 30-Dec-08 31-Dec-08 01-Jan-09 02-Jan-09 05-Jan-09 06-Jan-09 07-Jan-09 09-Jan-09 12-Jan-09 13-Jan-09 14-Jan-09 15-Jan-09 16-Jan-09 19-Jan-09 20-Jan-09 21-Jan-09 22-Jan-09 1,071.55 1,057.40 1,044.40 1,028.50 1,008.75 1,035.15 1,094.60 1,094.70 1,105.20 1,084.70 1,095.35 1,064.10 1,072.80 1,088.75 1,064.10 1,040.55 1,032.90 1,056.80 1,064.30 1,069.65 1,064.15 1,055.65 1,048.75 1,043.90 1,041.40 1,043.15 1,099.45 1,130.35 1,134.30 1,119.55 1,104.55 1,119.90 1,119.15 1,100.85 1,078.90 1,075.00 1,065.00 1,065.00 1,065.90 1,030.00 1,037.00 1,052.25 1,060.10 1,123.00 1,071.00 1,050.00 1,078.85 1,060.10 1,093.00 1,061.00 1,040.00 1,040.00 1,050.00 1,065.10 1,065.00 1,078.00 1,067.90 1,058.80 1,044.00 1,048.00 1,060.00 1,095.05 1,125.00 1,148.00 1,115.00 1,114.50 1,120.00 1,132.00 1,100.85 1,091.00 1,075.00 1,067.95 1,065.00 1,065.90 1,068.00 1,105.00 1,108.00 1,119.60 1,132.00 1,104.40 1,112.00 1,083.05 1,097.80 1,093.00 1,068.95 1,041.50 1,069.00 1,082.75 1,077.90 1,074.00 1,079.00 1,067.90 1,058.80 1,060.00 1,070.00 1,114.70 1,137.85 1,148.85 1,148.00 1,124.90 1,133.95 1,138.95 1,132.00 1,100.85 1,110.00 1,043.20 1,024.00 1,014.80 990 1,016.35 1,037.00 1,052.25 1,060.10 1,070.00 1,071.00 1,050.00 1,055.25 1,052.70 1,057.05 1,037.10 1,021.05 1,027.00 1,045.10 1,045.30 1,051.50 1,047.10 1,044.00 1,033.05 1,030.25 1,040.00 1,040.00 1,085.00 1,111.10 1,102.20 1,090.00 1,098.00 1,107.40 1,090.00 1,068.00 1,071.10 1,056.40 1,038.65 1,038.00 1,010.00 1,037.00 1,088.00 1,100.00 1,108.00 1,085.00 1,095.00 1,063.95 1,070.00 1,085.00 1,065.00 1,040.00 1,030.90 1,055.10 1,063.25 1,073.00 1,067.00 1,050.00 1,053.00 1,046.05 1,045.00 1,040.85 1,100.00 1,130.00 1,137.25 1,125.00 1,107.00 1,120.00 1,115.00 1,099.00 1,099.00 1,105.05 1,057.40 1,044.40 1,028.50 1,008.75 1,035.15 1,094.60 1,094.70 1,105.20 1,084.70 1,095.35 1,064.10 1,072.80 1,088.75 1,064.10 1,040.55 1,032.90 1,056.80 1,064.30 1,069.65 1,064.15 1,055.65 1,048.75 1,043.90 1,041.40 1,043.15 1,099.45 1,130.35 1,134.30 1,119.55 1,104.55 1,119.90 1,119.15 1,100.85 1,078.90 1,103.80 1,055.26 1,037.27 1,029.78 1,010.11 1,042.69 1,074.48 1,085.22 1,099.77 1,091.82 1,090.76 1,067.18 1,069.79 1,087.95 1,065.99 1,041.65 1,031.80 1,053.50 1,066.73 1,058.01 1,059.20 1,060.82 1,048.68 1,039.84 1,046.60 1,053.42 1,075.33 1,121.32 1,132.12 1,118.70 1,106.21 1,119.21 1,125.65 1,096.81 1,084.83 1,089.01 190078 397649 425867 678186 364029 634401 334996 351458 310170 295087 446786 387072 372733 171557 230042 352186 166016 203841 200233 214916 116536 694943 273566 352217 263934 670650 507734 317387 171167 222256 204097 109754 191872 264617 170341 2,005.81 4,124.70 4,385.48 6,850.41 3,795.70 6,816.49 3,635.46 3,865.24 3,386.49 3,218.68 4,768.01 4,140.84 4,055.16 1,828.77 2,396.23 3,633.85 1,748.97 2,174.43 2,118.48 2,276.39 1,236.23 7,287.72 2,844.65 3,686.30 2,780.34 7,211.68 5,693.31 3,593.19 1,914.84 2,458.62 2,284.28 1,235.44 2,104.48 2,870.65 1,855.03
54

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 23-Jan-09 27-Jan-09 28-Jan-09 29-Jan-09 30-Jan-09 02-Feb-09 03-Feb-09 04-Feb-09 05-Feb-09 06-Feb-09 09-Feb-09 10-Feb-09 11-Feb-09 12-Feb-09 13-Feb-09 16-Feb-09 17-Feb-09 18-Feb-09 19-Feb-09 20-Feb-09 24-Feb-09 25-Feb-09 26-Feb-09 27-Feb-09 1,103.80 1,071.65 1,141.25 1,158.20 1,146.10 1,074.45 1,047.05 1,045.70 1,046.55 1,048.95 1,056.45 1,091.55 1,122.25 1,096.55 1,108.85 1,066.90 1,053.70 1,047.80 1,038.45 1,037.45 1,022.35 1,004.90 1,022.70 1,018.90 1,098.00 1,065.00 1,140.00 1,157.00 1,135.00 1,083.00 1,055.00 1,054.00 1,047.00 1,055.00 1,049.90 1,083.00 1,119.85 1,111.00 1,111.00 1,064.00 1,049.90 1,040.10 1,038.45 1,037.00 1,032.00 1,011.00 1,028.50 1,022.80 1,113.70 1,156.90 1,179.95 1,179.00 1,135.00 1,083.00 1,068.20 1,060.00 1,054.90 1,065.05 1,097.70 1,125.00 1,120.00 1,111.90 1,116.00 1,078.30 1,055.70 1,061.90 1,047.90 1,037.75 1,032.00 1,032.00 1,030.00 1,025.00 1,057.00 1,065.00 1,140.00 1,117.10 1,041.00 1,041.00 1,035.05 1,032.20 1,040.00 1,043.10 1,030.10 1,081.00 1,083.00 1,083.00 1,060.00 1,042.00 1,033.05 1,025.20 1,015.00 1,019.00 990.5 1,001.10 1,006.30 995 1,071.50 1,140.05 1,160.00 1,150.00 1,073.00 1,046.05 1,049.95 1,046.00 1,054.90 1,052.00 1,095.00 1,123.00 1,098.00 1,110.00 1,066.00 1,052.00 1,050.00 1,025.20 1,040.00 1,022.75 1,008.00 1,025.00 1,020.00 1,010.25 1,071.65 1,141.25 1,158.20 1,146.10 1,074.45 1,047.05 1,045.70 1,046.55 1,048.95 1,056.45 1,091.55 1,122.25 1,096.55 1,108.85 1,066.90 1,053.70 1,047.80 1,038.45 1,037.45 1,022.35 1,004.90 1,022.70 1,018.90 1,017.50 1,075.08 1,125.92 1,168.26 1,143.02 1,067.71 1,048.73 1,047.71 1,046.85 1,045.82 1,056.06 1,068.26 1,105.64 1,096.74 1,094.29 1,084.99 1,057.03 1,044.08 1,042.05 1,034.93 1,022.73 1,008.86 1,023.75 1,019.41 1,007.20 213848 159981 287240 249873 819068 355344 1524675 503162 136274 144186 299846 258645 335770 434055 272940 211461 384924 273009 362889 195855 302379 166984 231199 381515 2,299.03 1,801.25 3,355.70 2,856.09 8,745.26 3,726.60 15,974.14 5,267.36 1,425.18 1,522.70 3,203.13 2,859.68 3,682.52 4,749.83 2,961.37 2,235.21 4,018.90 2,844.89 3,755.64 2,003.07 3,050.59 1,709.50 2,356.86 3,842.64
RANBAXY
Average Series EQ EQ Date 01-Dec-08 02-Dec-08 Prev Close 208.2 198.4 Open Price 209 197 High Price 213.4 204 Low Price 196.1 191.2 Last Price 198.6 202 Close Price 198.4 202.4 Price 206.16 197.69 Total Traded Quantity 838768 1115816 Turnover in Lacs 1,729.22 2,205.90
55

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 03-Dec-08 04-Dec-08 05-Dec-08 08-Dec-08 10-Dec-08 11-Dec-08 12-Dec-08 15-Dec-08 16-Dec-08 17-Dec-08 18-Dec-08 19-Dec-08 22-Dec-08 23-Dec-08 24-Dec-08 26-Dec-08 29-Dec-08 30-Dec-08 31-Dec-08 01-Jan-09 02-Jan-09 05-Jan-09 06-Jan-09 07-Jan-09 09-Jan-09 12-Jan-09 13-Jan-09 14-Jan-09 15-Jan-09 16-Jan-09 19-Jan-09 20-Jan-09 21-Jan-09 22-Jan-09 202.4 203.75 210.8 208.85 213.45 210.2 209.5 209.85 214.05 219.5 214.8 218.6 217.15 221.95 214.05 215.85 216.9 232.05 241.8 252.35 250.15 250.25 250.25 253.55 236.8 219.1 206.5 216.45 217.9 215.3 218.15 217.55 215.15 205.4 205 201 210.5 215 216 210.5 204.95 210 215 226 215 216.3 215 222 212.1 217.5 217.9 237 242 252 249 253 250 254.05 235 215 205.1 215 214.5 216.65 220 216 211 207 205 212.75 215.05 218.2 221 214.4 214.9 216.5 223.8 226 220.85 226.9 225 225.3 220.9 221.8 234.5 244.4 255.55 255.1 254 255.9 256.8 257.7 235.25 220.25 217.9 220.75 219.8 223.7 220.9 217.5 218.9 207.55 198.05 201 207.1 209.5 207.7 205.2 179.2 208.3 212.3 210.8 210.2 213.15 215 212.2 211 215.5 216 234 242 245.6 243 246.05 245.2 231.6 215 204.15 205.1 210.6 206 214.4 214.55 212.55 201.3 179.3 202.5 210.5 209 212.25 210 209.9 208.05 214.1 220 216 218.15 216 222.85 213.5 217.55 218 234 240.5 251.55 249.6 251 249.3 252 235.4 217 208 217 219.15 217.45 216.65 217.95 215.7 202.95 186.5 203.75 210.8 208.85 213.45 210.2 209.5 209.85 214.05 219.5 214.8 218.6 217.15 221.95 214.05 215.85 216.9 232.05 241.8 252.35 250.15 250.25 250.25 253.55 236.8 219.1 206.5 216.45 217.9 215.3 218.15 217.55 215.15 205.4 186.4 201.69 207.21 211.32 214 213.58 210.4 208.04 213.46 219.72 215.69 216.87 219.39 221.84 218.79 216.28 218.52 225.06 239.17 249.15 249.64 249.29 249.3 253.19 245.29 222.64 210.59 214.64 216.61 213.04 218.7 217.17 214.33 207.75 188.86 732971 1109551 516033 1305921 1775174 795514 862863 857075 1254866 1005609 1130114 1615077 822514 1003630 1352036 709299 2845405 2277263 2810223 1259197 1358558 652934 1302559 1428649 1702127 1089095 722402 613335 617965 803916 428938 397386 1410929 3043504 1,478.29 2,299.06 1,090.49 2,794.69 3,791.39 1,673.74 1,795.07 1,829.55 2,757.19 2,168.96 2,450.87 3,543.29 1,824.67 2,195.81 2,924.18 1,549.99 6,403.86 5,446.59 7,001.57 3,143.49 3,386.78 1,627.74 3,297.94 3,504.39 3,789.58 2,293.51 1,550.59 1,328.57 1,316.53 1,758.17 931.51 851.7 2,931.23 5,748.08
56

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 23-Jan-09 27-Jan-09 28-Jan-09 29-Jan-09 30-Jan-09 02-Feb-09 03-Feb-09 04-Feb-09 05-Feb-09 06-Feb-09 09-Feb-09 10-Feb-09 11-Feb-09 12-Feb-09 13-Feb-09 16-Feb-09 17-Feb-09 18-Feb-09 19-Feb-09 20-Feb-09 24-Feb-09 25-Feb-09 26-Feb-09 27-Feb-09 186.4 188.1 198.85 213 210.9 215.85 210.65 208.9 206.5 208.95 223.4 227.35 232.7 221.15 212.9 212.65 205 204.6 204.75 207.9 206.8 215 207.25 169.85 182 190.1 200 213.9 208.5 210 209.8 210.55 207 210 222.1 228 229.85 221 215 211.55 202 202.3 209.5 207.9 202 217 203 172 191.4 203 215.7 215.95 221.95 217.8 215 214 211 225.7 231 235.9 244 224 216.8 213 209.95 209.4 209.5 209.9 216.8 219 203 172 165.1 184.05 199.1 204.15 206.1 206.2 200.6 205 202.2 208 220.55 227.5 218 211.4 210.15 201.5 201 198 205.25 202.35 202 205.6 168.3 159.25 185.4 202 214.4 212.3 216.3 207 209 205 210 221 229 232.05 221.5 212.1 211.95 204.5 203.6 204.75 208.5 206.3 214.5 207.55 169.65 161.75 188.1 198.85 213 210.9 215.85 210.65 208.9 206.5 208.95 223.4 227.35 232.7 221.15 212.9 212.65 205 204.6 204.75 207.9 206.8 215 207.25 169.85 161.8 184.74 193.28 208.07 209.17 216.1 211.42 207.54 208.43 207.4 219.43 227.14 232.69 229.87 214.96 213.03 205.97 206.16 206.56 207.46 205.44 211 212.84 175.26 165.08 2952166 1415176 1104513 1553906 1263125 834199 1797568 608215 745014 1700613 1074767 1258802 3771921 2370369 1531514 3117728 2423999 810121 565458 805666 1803347 1681422 15019551 10105419 5,453.72 2,735.28 2,298.15 3,250.29 2,729.58 1,763.67 3,730.76 1,267.73 1,545.14 3,731.63 2,441.23 2,929.06 8,670.69 5,095.37 3,262.56 6,421.51 4,997.27 1,673.36 1,173.09 1,655.18 3,805.09 3,578.66 26,324.01 16,682.00
GMR
Average Series EQ EQ EQ EQ Date 01-Dec-08 02-Dec-08 03-Dec-08 04-Dec-08 Prev Close 53.45 53.5 53.25 54.85 Open Price 53 52 54.45 55.4 High Price 56.95 54.3 55.9 62.9 Low Price 52.5 51.1 53.75 54.6 Last Price 54 54 55 60.9 Close Price 53.5 53.25 54.85 60.7 Price 55.06 52.65 54.96 58.49 Total Traded Quantity 5664825 6354588 7340209 10443616 Turnover in Lacs 3,118.89 3,345.63 4,034.35 6,108.96
57

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 05-Dec-08 08-Dec-08 10-Dec-08 11-Dec-08 12-Dec-08 15-Dec-08 16-Dec-08 17-Dec-08 18-Dec-08 19-Dec-08 22-Dec-08 23-Dec-08 24-Dec-08 26-Dec-08 29-Dec-08 30-Dec-08 31-Dec-08 01-Jan-09 02-Jan-09 05-Jan-09 06-Jan-09 07-Jan-09 09-Jan-09 12-Jan-09 13-Jan-09 14-Jan-09 15-Jan-09 16-Jan-09 19-Jan-09 20-Jan-09 21-Jan-09 22-Jan-09 23-Jan-09 60.7 58.65 60.55 63.15 66.1 64.7 65.45 67.6 65.15 69.55 71.55 74 73.6 71.25 67.85 72.4 75.4 76.9 78.3 85.15 83.55 81.5 72.4 66.95 73.95 71.35 77.45 71.25 72.75 76.25 74.6 75.6 77.15 61.5 61.05 62.1 64 63.4 65.05 64.7 68 65 69.2 72.3 73.7 73 74.15 66.4 73.5 76 77.25 79 86.35 82 82 72 67 73 71 74.9 72.2 73 75 73.1 77.05 76.1 63.15 64.5 63.8 67.1 66.6 68.9 69.75 69.75 71.2 73.7 74.85 74.5 74.25 74.15 73.75 76 78 78.95 85.9 86.95 84.8 83.45 72 76.5 74.7 78.4 75 74.9 77.55 75.9 78 78.85 77.15 57.1 59.35 60.85 63.45 61.25 64.95 64.6 63.7 64 68.55 71.75 71.3 69.7 66.5 64.45 70.1 74.55 76.1 77.25 81.8 78.5 70.4 62.1 65.1 67.2 68.25 70.05 71.25 71.5 74.05 72.6 72.3 71.3 58.5 61.15 63.25 65.35 64.15 65.6 68 65 70.6 71.7 74.4 73.75 71.85 68.5 73.6 75.05 77.8 77.45 85 82.75 81.6 72.5 66.85 76 71.4 77 71.1 72.35 76.2 74.8 75.5 77.15 72.75 58.65 60.55 63.15 66.1 64.7 65.45 67.6 65.15 69.55 71.55 74 73.6 71.25 67.85 72.4 75.4 76.9 78.3 85.15 83.55 81.5 72.4 66.95 73.95 71.35 77.45 71.25 72.75 76.25 74.6 75.6 77.15 72.6 60.76 61.97 62.46 65.23 64.28 66.63 68.06 66.96 67.26 71.21 73.54 73.29 71.6 69.68 68.25 73.2 76.7 77.82 82.91 84.36 81.93 76.6 66.72 71.17 71.58 74.21 72.2 73.15 75.23 74.9 76.07 75.82 73.96 8202805 7683938 7550815 9322221 8890581 6708608 7792219 7517167 5818444 13673444 7138640 9445103 5654627 4310122 4681935 6444221 5205389 3045685 11052350 8025764 5453373 4866479 7550344 8156323 5204864 6691632 4407034 3241506 5104862 3748367 6769947 5894037 6320958 4,984.18 4,762.05 4,716.60 6,081.27 5,715.21 4,470.08 5,303.19 5,033.77 3,913.61 9,736.26 5,249.73 6,922.06 4,048.94 3,003.42 3,195.55 4,717.46 3,992.42 2,370.03 9,163.04 6,770.63 4,467.85 3,727.88 5,037.90 5,805.00 3,725.79 4,965.69 3,181.69 2,371.21 3,840.34 2,807.48 5,150.03 4,469.01 4,674.93
58

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 27-Jan-09 28-Jan-09 29-Jan-09 30-Jan-09 02-Feb-09 03-Feb-09 04-Feb-09 05-Feb-09 06-Feb-09 09-Feb-09 10-Feb-09 11-Feb-09 12-Feb-09 13-Feb-09 16-Feb-09 17-Feb-09 18-Feb-09 19-Feb-09 20-Feb-09 24-Feb-09 25-Feb-09 26-Feb-09 27-Feb-09 72.6 75.05 76.95 75.25 73.6 71.2 68.65 70.7 69.85 74 82.5 79.45 79.95 77.8 78.95 79.15 79 80.1 79.5 78.1 76.75 75.15 78.65 73.35 75 77.5 72.8 73 71.9 69.5 70 70.6 75 82 78 78.8 78.1 79 77.1 78.45 80.6 78.1 77 78.7 75.8 78.9 76.4 77.45 78.85 75.2 74.3 73.4 71.75 70.9 83.8 83.7 84.8 81.15 81.3 80.65 81.2 79.5 81.9 81.75 78.95 77.4 79.1 79.8 79.8 72.5 73.05 73.1 71.8 70.1 68.2 68.5 68.25 70.5 73.35 78.1 76.25 77.1 78.1 77.15 76.7 77.25 78.85 76.25 75.05 74.65 75.35 77.5 75 76.8 73.4 73.65 71.35 68.4 70.5 69.95 75 83.15 79.15 79.35 77.4 79.2 79 78.7 80.8 79.7 78.2 76.5 75.45 79.15 78.6 75.05 76.95 75.25 73.6 71.2 68.65 70.7 69.85 74 82.5 79.45 79.95 77.8 78.95 79.15 79 80.1 79.5 78.1 76.75 75.15 78.65 78.95 74.35 75.29 75.83 73.73 72.07 69.68 69.94 69.53 73.44 79.95 81.03 79.33 79.46 79.49 79.16 78.16 80.14 80.19 77.81 76.25 77.02 77.53 78.66 3076188 2884385 5090920 3179770 2915859 3636004 3450258 2612254 3837673 11324248 6730429 4261259 3217477 2206448 4672368 3037064 4899736 3089437 1838264 2889973 3173144 3719164 3327523 2,287.08 2,171.76 3,860.65 2,344.34 2,101.52 2,533.44 2,413.24 1,816.43 2,818.46 9,053.78 5,453.89 3,380.67 2,556.73 1,753.82 3,698.57 2,373.73 3,926.74 2,477.53 1,430.29 2,203.52 2,444.03 2,883.58 2,617.00
RELIANCE
Average Series EQ EQ EQ EQ EQ EQ Date 01-Dec-08 02-Dec-08 03-Dec-08 04-Dec-08 05-Dec-08 08-Dec-08 Prev Close 503.95 467.15 492.05 506.9 546.15 532.1 Open Price 510 450.35 503 510 545.1 548 High Price 525.9 498 512.5 553.7 561.2 576.95 Low Price 454.1 447.25 486.2 500 525 547 Last Price 479.1 495.9 505 543.3 528.1 554.6 Close Price 467.15 492.05 506.9 546.15 532.1 553.55 Price 496.26 471.88 501.55 528.26 540.49 564.88 Total Traded Quantity 4596820 6624081 5632046 5070757 4374144 3955925 Turnover in Lacs 22,812.29 31,258.02 28,247.68 26,786.67 23,642.00 22,346.25
59

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 10-Dec-08 11-Dec-08 12-Dec-08 15-Dec-08 16-Dec-08 17-Dec-08 18-Dec-08 19-Dec-08 22-Dec-08 23-Dec-08 24-Dec-08 26-Dec-08 29-Dec-08 30-Dec-08 31-Dec-08 01-Jan-09 02-Jan-09 05-Jan-09 06-Jan-09 07-Jan-09 09-Jan-09 12-Jan-09 13-Jan-09 14-Jan-09 15-Jan-09 16-Jan-09 19-Jan-09 20-Jan-09 21-Jan-09 22-Jan-09 23-Jan-09 27-Jan-09 28-Jan-09 29-Jan-09 30-Jan-09 553.55 602.35 604.65 650.4 653.65 634.25 544.35 601.05 619.65 601.1 589.5 577.45 543.05 562.05 585.25 579.5 611.95 629.85 666.65 646.75 558.6 508.15 480.65 476.35 523.35 502.9 540.95 535.35 551.4 520.35 486.4 487.3 539.4 556.6 555.85 562 606.35 585 659.7 650.1 644 555 600 624.9 584.8 584.55 582.9 539.9 572.45 591.9 590 619.9 640.05 669.9 651 526.65 510 478 485 501.05 509.85 543 528.7 538 525 481.4 499 544.9 552 545 607.65 619.5 663.85 675 650.1 644 608 636.5 638.45 608.4 595.5 604.9 567.8 595.4 601.8 617.9 639 670 669.9 661 578.8 511 510 542 517 548.7 551 564.7 553 539.4 508 545 560 570 588.9 553.05 580.1 556.65 642.5 613.1 532.55 540 585.35 595.1 578.55 566.35 528.05 518.6 560.6 570.25 583.35 615 637 631 531 484 466.5 468 485 480.1 501.35 530 514.2 515 480.5 474.25 496 531 544.4 535.55 603 602.1 646.25 644.75 634.6 544 595.45 615.2 601.1 587.1 579.1 532.5 563 584 580.35 617.1 637.25 667 649 562 500 480.65 484 540 502.05 540.8 532.6 544.7 520 482.9 487.5 539.05 553.05 555 578.35 602.35 604.65 650.4 653.65 634.25 544.35 601.05 619.65 601.1 589.5 577.45 543.05 562.05 585.25 579.5 611.95 629.85 666.65 646.75 558.6 508.15 480.65 476.35 523.35 502.9 540.95 535.35 551.4 520.35 486.4 487.3 539.4 556.6 555.85 582.9 579.91 601.16 616.85 661.69 631.97 576.75 575.19 610.65 617.71 593.09 579.51 573.65 545.04 577.24 586.86 600 627.37 655.96 650.62 587.89 518.98 482.55 488.19 506.44 501.06 528.27 541.47 538.08 534.87 505.82 491.38 520.65 548.14 557.99 569.44 5287529 5403066 6732914 5025899 5849167 6895356 6781993 7258532 5616718 5528807 4225462 4616755 7767727 5018893 4992242 3596535 4575775 4705274 4721987 5066616 5896495 5242410 4703442 4175314 5224848 4909870 3473443 5627366 5082534 5178697 5231028 5133832 4435618 5146349 5057219 30,662.99 32,481.11 41,531.94 33,255.72 36,965.04 39,768.69 39,009.22 44,324.07 34,695.26 32,790.58 24,487.10 26,484.22 42,337.00 28,970.96 29,297.66 21,579.10 28,707.11 30,864.58 30,722.43 29,785.94 30,601.63 25,297.48 22,961.79 21,145.31 26,179.65 25,937.40 18,807.68 30,279.93 27,185.17 26,194.77 25,704.14 26,729.26 24,313.51 28,716.25 28,797.59
60

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 02-Feb-09 03-Feb-09 04-Feb-09 05-Feb-09 06-Feb-09 09-Feb-09 10-Feb-09 11-Feb-09 12-Feb-09 13-Feb-09 16-Feb-09 17-Feb-09 18-Feb-09 19-Feb-09 20-Feb-09 24-Feb-09 25-Feb-09 26-Feb-09 27-Feb-09 582.9 520.55 523.15 520.15 519.85 540.85 578.05 563.5 541.3 550.15 569.85 533.25 518.9 501.25 508.4 489.95 489.25 506.85 509.4 574.45 525 530.1 522.35 526.9 540.1 575 541.05 537.55 559.85 567.9 528.8 548.7 491.65 498.95 480.55 495 500 508 577.2 544 544.7 530 548.8 581.6 596.9 554.3 561.45 579.6 578.4 528.8 548.7 513.95 504.95 495.9 517.4 514.9 511.4 515 505.65 514 507.3 526 540.1 546.1 527.2 531.55 559.75 527.2 507.65 493.35 491.65 486.2 467.35 495 500 478.35 515.6 522.2 518 521.4 539.5 578.55 561 542.1 548.55 568.65 533 520 496.8 510.65 493.1 488 505.3 509 488.05 520.55 523.15 520.15 519.85 540.85 578.05 563.5 541.3 550.15 569.85 533.25 518.9 501.25 508.4 489.95 489.25 506.85 509.4 491.05 544.09 525.97 528.8 517.68 540.39 562.9 571.58 538.84 551.37 571.71 544.57 515.36 510.22 507.18 494.29 482.73 510.22 508.52 490.56 4892157 7464330 5205204 4789797 4202142 4631152 8038633 7623600 5518185 6201076 5317232 4107268 8182341 5773810 3962923 5066859 4389353 4426820 5015380 26,617.94 39,259.83 27,524.92 24,795.59 22,708.13 26,068.74 45,946.95 41,078.88 30,425.40 35,452.35 28,955.90 21,167.09 41,747.62 29,283.83 19,588.25 24,459.12 22,395.38 22,511.08 24,603.48
LANCO
Series EQ EQ EQ EQ EQ EQ EQ EQ EQ Date 01-Dec-2008 02-Dec-2008 03-Dec-2008 04-Dec-2008 05-Dec-2008 08-Dec-2008 10-Dec-2008 11-Dec-2008 12-Dec-2008 Prev Close 111.60 112.90 113.00 116.65 127.95 116.85 124.85 144.70 139.55 Open Price 114.00 108.00 116.90 119.80 125.00 122.00 128.00 145.00 135.00 High Price 121.50 115.50 120.00 129.70 132.25 129.75 146.80 147.75 138.45 Low Price 111.10 104.80 113.00 117.50 114.05 120.35 123.70 134.25 128.75 Last Price 112.50 114.70 117.00 125.95 115.00 125.20 145.15 138.40 135.25 Close Price 112.90 113.00 116.65 127.95 116.85 124.85 144.70 139.55 136.45 Average Total Traded Price Quantity 117.23 109.52 116.91 124.34 124.95 125.59 136.18 142.03 133.86 2375178 1250989 1594375 3334543 2425709 2669647 4443289 2594854 2640566 Turnover in Lacs 2,784.37 1,370.08 1,863.95 4,146.10 3,030.94 3,352.75 6,050.98 3,685.44 3,534.78
61

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 15-Dec-2008 16-Dec-2008 17-Dec-2008 18-Dec-2008 19-Dec-2008 22-Dec-2008 23-Dec-2008 24-Dec-2008 26-Dec-2008 29-Dec-2008 30-Dec-2008 31-Dec-2008 01-Jan-2009 02-Jan-2009 05-Jan-2009 06-Jan-2009 07-Jan-2009 09-Jan-2009 12-Jan-2009 13-Jan-2009 14-Jan-2009 15-Jan-2009 16-Jan-2009 19-Jan-2009 20-Jan-2009 21-Jan-2009 22-Jan-2009 23-Jan-2009 27-Jan-2009 28-Jan-2009 29-Jan-2009 30-Jan-2009 02-Feb-2009 03-Feb-2009 04-Feb-2009 05-Feb-2009 06-Feb-2009 09-Feb-2009 10-Feb-2009 11-Feb-2009 12-Feb-2009 13-Feb-2009 136.45 161.85 161.20 151.40 156.75 162.70 165.10 156.80 142.05 135.55 140.50 151.50 155.35 162.70 166.80 173.45 168.65 125.90 110.10 110.85 110.35 113.80 113.05 115.90 119.35 114.50 111.10 104.95 103.50 105.70 110.90 110.90 114.00 114.55 111.50 111.80 111.20 111.75 118.50 125.80 127.75 134.90 139.00 160.00 165.00 150.00 156.75 163.90 162.60 154.90 143.00 135.35 142.50 154.80 156.50 164.95 170.10 173.00 173.00 126.00 115.00 110.85 114.00 109.00 115.00 118.00 116.00 112.00 114.00 103.00 107.00 106.15 114.00 110.00 113.50 116.50 115.00 112.50 114.00 112.10 120.00 124.00 128.00 136.15 163.75 165.50 171.20 159.80 168.80 174.35 163.95 154.90 147.90 142.00 153.90 161.85 164.50 172.00 175.70 178.50 173.00 132.00 117.80 114.90 116.75 115.65 118.00 122.45 118.20 116.55 114.60 105.00 107.50 114.40 116.50 114.90 120.90 118.20 115.85 114.90 117.70 119.75 129.40 129.70 138.15 139.80 138.00 155.40 148.90 144.00 152.20 162.70 155.00 140.00 134.10 128.50 141.10 152.10 156.50 161.65 168.30 163.00 118.50 97.95 108.00 106.10 110.00 103.80 112.00 114.10 112.60 110.05 102.90 99.00 102.10 106.15 107.20 106.20 111.20 110.05 110.65 108.50 110.20 110.50 117.50 118.10 126.00 135.70 161.90 160.10 150.00 157.90 162.00 165.50 156.00 141.50 135.35 141.50 153.00 156.00 161.50 168.00 173.00 167.00 126.50 108.00 111.50 112.00 114.50 115.00 116.00 118.60 113.00 110.90 104.40 104.95 105.40 110.00 111.05 113.80 114.10 112.30 112.10 111.60 110.50 118.10 125.65 129.50 135.35 138.00 161.85 161.20 151.40 156.75 162.70 165.10 156.80 142.05 135.55 140.50 151.50 155.35 162.70 166.80 173.45 168.65 125.90 110.10 110.85 110.35 113.80 113.05 115.90 119.35 114.50 111.10 104.95 103.50 105.70 110.90 110.90 114.00 114.55 111.50 111.80 111.20 111.75 118.50 125.80 127.75 134.90 137.30 155.92 161.13 161.97 153.53 164.53 169.13 158.57 145.28 139.78 136.17 147.17 157.25 160.79 167.78 172.37 171.70 139.74 112.08 112.45 111.22 113.56 110.97 115.67 118.95 115.95 113.32 106.80 102.04 105.21 111.45 112.05 112.75 116.41 113.29 112.92 110.59 113.78 116.05 124.94 124.29 133.95 137.64 4523855 2783336 2627777 2321888 2456358 2092851 1452778 1646169 1586522 1832766 2168401 2189898 1430693 2262404 2435027 2129348 2560123 3683474 1729370 1662698 1491297 1403545 1161679 1370446 982558 850533 2191385 994469 860484 1152499 1079166 1178485 1698779 850650 554244 915752 1487313 1232985 2167929 1551108 2524813 887212 7,053.57 4,484.85 4,256.13 3,564.82 4,041.54 3,539.54 2,303.70 2,391.58 2,217.59 2,495.62 3,191.21 3,443.58 2,300.35 3,795.77 4,197.18 3,656.02 3,577.56 4,128.49 1,944.68 1,849.33 1,693.47 1,557.48 1,343.69 1,630.17 1,139.23 963.86 2,340.34 1,014.80 905.28 1,284.41 1,209.23 1,328.68 1,977.54 963.67 625.84 1,012.70 1,692.24 1,430.87 2,708.67 1,927.91 3,381.96 1,221.19
62

EQ EQ EQ EQ EQ EQ EQ EQ EQ 16-Feb-2009 17-Feb-2009 18-Feb-2009 19-Feb-2009 20-Feb-2009 24-Feb-2009 25-Feb-2009 26-Feb-2009 27-Feb-2009 137.30 127.10 120.20 119.15 118.75 120.25 119.40 120.30 124.80 136.00 124.40 116.15 118.00 117.15 116.70 121.00 121.00 126.00 141.45 124.40 124.75 122.90 121.70 122.35 124.85 126.60 128.75 125.00 118.50 115.10 117.40 114.55 114.50 119.20 121.00 123.60 125.10 120.00 118.10 120.00 120.30 118.05 120.10 125.60 126.00 127.10 120.20 119.15 118.75 120.25 119.40 120.30 124.80 126.10 134.20 120.49 120.81 120.18 119.11 118.86 122.52 124.65 126.34 1430666 848462 1402701 542610 1093663 925652 726954 1450932 937579 1,919.89 1,022.35 1,694.66 652.11 1,302.63 1,100.19 890.66 1,808.63 1,184.54
6. BIBILOGRAPHY
I.M. PANDEY M.Y. KHAN PRASANNA CHANDRA
-------
FINANCIAL MANAGEMENT FINANCIAL SERVICES FINANCIAL MANAGEMENT INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT
Web sites:
www.equitymaster.com www.il&fs investsmart.com www.moneycontrol.com www.nseindia.com
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A comparative Study on Equity Analysis

1.1 INTRODUCTION TO THE FINANCE:

OBJECTIVES OF FINANCIAL MANAGEMENT:

A comparative Study on Equity Analysis 2. FINANCING DECISIONS:

1.2 INTRODUCTION TO THE EQUITIES:

A comparative Study on Equity Analysis

Investment avenues can be broadly categorized under the following heads:

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

Member/ Broking firm.

Stock Exchange (BSE / NSE)

Member/ Broking firm.

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

PROHIBITED RIGHTS AND RESTRICTIONS:

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

1.3 INDUSTRY PROFILE: INTRODUCTION TO BSE:

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

SENSEX - The Barometer of Indian Capital Markets

A comparative Study on Equity Analysis INTRODUCTION TO SENSEX:

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

NATIONAL STOCK EXCHANGE:

A comparative Study on Equity Analysis THE ORGANIZATION:

A comparative Study on Equity Analysis

CRITERIA FOR SELECTION OF CONSTITUENT STOCKS:

S&P ESG India Index

A comparative Study on Equity Analysis

1.4 COMPANY PROFILE:

A comparative Study on Equity Analysis

PROMOTERS FOR INVESTSMART:

A comparative Study on Equity Analysis

Senior Vice President - Investment Banking - Mr. Avdhoot Deshpande

A comparative Study on Equity Analysis

REASONS TO CHOOSE INVESTSMART:

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

ONLINE BANKS TIE-UPS FOR TRADING:

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

2.1 NEED OF THE STUDY:

A comparative Study on Equity Analysis

2.2 OBJECTIVES OF THE STUDY

A comparative Study on Equity Analysis

2.3 RESEARCH METHODOLOGY:

2.3.1DATA SOURCES OF FINANCIAL INFORMATION: SECONDARY DATA: MARKET DATA:

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

A comparative Study on Equity Analysis

Rules governing the size of position to be taken.

TRADING / INVESTING BASED ON TECHNICAL ANALYSIS:

A comparative Study on Equity Analysis

Frequency of profits / frequency of losses. Average profit / average loss.

A comparative Study on Equity Analysis

MARKET VARIABLES: DIRECTION, MOMENTUM, VOLATILITY: LIQUIDITY:

A comparative Study on Equity Analysis