Beruflich Dokumente
Kultur Dokumente
By
KIRAN KUMAR
(Reg. No 03VWCM6043)
i
DECLARATION
I further declare that this project report has not been submitted earlier to
any other University or Institute for the award of any Degree or Diploma.
Date:
Place: Bangalore
Kiran Kumar
(03VWCM6043)
ii
CERTIFICATE
DATE:
iii
ACKNOWLEDGEMENT
I would like to take this opportunity to express my sincere thanks and indebtedness to
my president Sudhir Angur, my director, Prof. B.V. Krishna murthy for their valuable
guidance and encouragement.
I am grateful to my parents without whose support and blessings this project would
not have been complete.
Last but not the least; I thank my friend Tejeshwari who have helped me in the
various stages of the project.
iv
Sl No Table of Contents Pg No
Chap 1 Theoretical background of the study 1
Fundamental Analysis 1
Debt Valuation techniques and concepts 6
Valuation 10
Total Return Index 13
Chap 2 Design of the study 14
Statement of problem 14
Research Methodology 15
Plan of analysis 15
Operational definitions 16
Chapter Scheme 21
Chap 3 Industry profile 22
Indian cement industry 24
Automobile industry 30
Hero Honda Valuation 34
Portfolio construction on the basis of FA 41
Chap 4 Analysis and Interpretation 43
Corporate debt 43
G securities 45
Portfolio of Equity and Debt 46
Hypothesis testing 48
Chap 5 Findings and suggestions 49
Cement industry 49
Automobile Industry 50
Portfolio evaluation 51
v
Tab No List of Tables Pg No
1 Market share in motorcycles 35
2 Calculation of TRI 37
3 Calculation of Beta 37
4 Calculation of WACC 38
5 Calculation Of CAPEX 39
6 Fixed Asset Turn Over Ratio 39
7 Sales growth 39
8 FCFF Valuation 40
9 Exp returns on portfolio 41
10 Beta of the Portfolio 42
11 Corporate Debt Portfolio 44
12 G-Sec portfolio 45
13 Equity Portfolio 46
14 Debt Portfolio 47
Different combinations of debt and
15 equity. 47
vi
Theoretica
l
Backgroun
d
Of The
Study
Design
Of
The
Study
Industry
Profile
Analysis
And
Interpretat
ion