INDEX

S.NO CONTENTS PAGE NO.

CHAPTER-1 3-18

 SCOPE OF THE STUDY

 OBJECTIVES OF THE STUDY

 METHODOLOGY OF THE STUDY

 LIMITATIONS OF THE STUDY

CHAPTER-2 19-26
 REVIEW OF LITERATURE

CHAPTER-3 27-38

 COMPANY PROFILE
 INDUSTRY PROFILE

CHAPTER-4 39-76

 DATA ANALYSIS AND INTERPETATION

CHAPTER-5 77-82

 FINDINGS
 SUGGESTION
 CONCLUSION
CHAPTER-6 83-84
 BIBLIOGRAPHY

1
ABSTRACT

The present projects work “A Study on Performance of Equity Shares of Selected

Stock” with reference to few selected Equities.

The Indian capital Market has witnessed a tremendous growth. There was an
explosion of investor interest during the nineties and an Equity Guilt emerged in statutory
legislations has helped the capital market. In the past several years, investments in
developing countries have increased remarkably. Among the developing countries India
has received considerable capital inflows in recent years. The liberalization policy of the
government of India has now started fielding results and the country is poised for a big
leap in the industrial and economic growth.

The Economy of the country is mainly based on the development of the corporate
sectors. A better understanding of the stock market trend will facilitate allocation of
financial sources to the most profitable investment opportunity. The behavior of stock
returns will enable the investors to make appropriate investment decisions. The
fluctuations of stock returns are due to several economic and non-economic factors. This
project analyses the equity share fluctuations in India Selected Industry. It also measures
the strength of the trend and the money involved in investing in the stocks. In India most
of the industries require huge amount of investments. Funds are raised mostly through the
issue of share.

An investor is satisfied from the reasonable return from investment in shares.

Speculation involves higher risks to get return on the other hand investment involves no
such risks and returns will be fair. An investor can succeed in his investment only when
he is able to select the right shares. The investors should keenly watch the situations like
market price, economy, company progress, returns, and the risk involved in a share
before taking decision on a particular share. This study made will help the investors know
the behavior of s/hare prices and thus can succeed.

2
CHAPTER 1

Introduction

3
INTRODUCTION:

In accounting and finance, equity is the difference between the value of the assets and the

cost of the liabilities of something owned. For example, if someone owns a car worth

$15,000 but owes $5,000 on a loan against that car, the car represents $10,000 equity.

Equity can be negative if liability exceeds assets.

Equity shares were earlier known as ordinary shares. The holders of these shares are the

real owners of the company. They have a voting right in the meetings of holders of the

company. They have a control over the working of the company. Equity shareholders are

paid dividend after paying it to the preference shareholders.

The rate of dividend on these shares depends upon the profits of the company. They may

be paid a higher rate of dividend or they may not get anything. These shareholders take

more risk as compared to preference shareholders.

An equity share in a corporation makes you a part owner of the business. However,

shares come in various flavors and confer very different rights and privileges on the

stockholder. While some allow you to have a say in how the company is run, others only

entitle you to receive cash payments every year. Some shares can be converted into other

types at the discretion of the shareholder. Understanding the various types of shares will

help you reach your financial goals.

A company’s equity capital is that part of its capital which reflects the residual value of

its assets after taking account of all third party liabilities. The equity capital in a company

4
 in liquidation is the property of the holders of ordinary shares hence these shares are

often referred to as equities.

Equity shareholders have a right to share in the profits of the company or any surplus

assets on winding up. In accordance with legislation and accounting standards, shares in a

company’s share capital may usually be either equity shares or non-equity shares.

Broadly what distinguishes an equity shareholder from a non-equity shareholder is

his/her right as regards dividends and as regards capital. An equity shareholder has the

right to participate in a distribution and share in any surplus assets on a winding-up

beyond a specified amount.

TYPES OF EQUITY:

Preferred stock

Common stock

Convertible preferred stock

Various Prices of Equity Shares:

o Par or Face Value: It is the value of a share of which it is accounted in books of

accounts.

o Issue Price: It is the price at which the equity share is actually offered to the

investor. Normally, the issue price and face value of a share are same in the case of

new companies.

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o Share Premium and Share at Discount: When a share is issued at a price higher

than face value, the excess amount is called premium. Contrary to it, if the share is

issued at a price lower than face value, it is said to be issued at a discount.

o Book Value: It is the ratio of the total of paid-up capital and reserves and surplus

divided by total no. of shares. This is the balance sheet value of shares.

o Market Value: In the case of companies listed on stock exchanges, the market

value of the share is the price at which they are sold currently sold in the market.

Equity instruments

Ordinary shares

Generally a company’s ordinary shares are those with which it is incorporated and where

a company has only one class of shares that class will be ordinary shares. Ordinary shares

typically carry rights to vote on all matters put to a general meeting of a company, rights

to dividends and rights to participate in a surplus on a winding-up.

A company may, however, create different classes of ordinary shares with different rights

as to voting or dividend or other rights such as the right to appoint a person to the board

of directors. Once ordinary shares are fully paid, a shareholder has no further liability on

his/her shares. In a winding up of the company, an ordinary shareholder will rank behind

secured creditors and behind holders of any other class of share to which his/her rights

have been subordinated in the articles of association.

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Preference shares

A company may create “preference” shares, which have a preferential right in respect of

income or capital (or both) over the ordinary shares in a company. Preference shares do

not necessarily confer preferential treatment in other respects and the precise rights

attaching to the shares will usually be set out in the company’s articles of association.

The types of rights a company may attach to preference shares include dividend rights,

capital rights, limited voting rights, conversion rights and redemption rights.

Preference shares are often issued on terms that provide for a dividend payable annually

or at the end of every six-month period. Where the preference shares provide for a

preferential right in respect of a dividend, the dividend is prima facie cumulative so that

the dividend is rolled up and any outstanding unpaid or undeclared dividend becomes

payable in priority to a dividend on ordinary shares when distributable profits become

available.

The dividend may be automatically declared so that it will become a debt due from the

company on its due date without further action on the part of the board or shareholders

provided that the company has sufficient distributable profits.

Preference shares typically carry a priority right to dividends (usually limited to a

specified percentage per annum) and a return of capital (usually limited to the amount

paid upon those shares plus any accrued but unpaid dividends), but do not qualify to

participate in any ordinary dividend or surplus on a winding up. Such shares constitute

non-equity capital for the purposes of the UK companies’ legislation.

7
Convertible and exchangeable bonds

A convertible bond is a debt security issued by a company which, during a period

between the issue date and the maturity date, can be surrendered by the holder in

exchange for shares in the capital of the same company that issued the bond. An

exchangeable bond differs only in that the bond is exchangeable for shares in a company

other than the company issuing the bond.

Generally, the issuer of an exchangeable or convertible, as for any other bond, agrees to

pay an interest coupon and to repay the principal at maturity. Upon conversion or

exchange by a holder, the principal amount of the bond is applied in subscribing for

shares at a conversion price that is fixed (subject to adjustment in certain limited

circumstances) at the time of issue of the convertible bond. The conversion price is the

amount of the face value of the bond that must be surrendered for each share received on

conversion.

Investors in exchangeable/convertibles typically agree to an interest coupon at below-

market rates in return for the potential upside if the market value of the shares appreciates

in value. On the other hand, issuers potentially give up some equity in exchange for the

lower funding cost. The conversion price at which the bonds are convertible into shares is

normally established at a premium (the conversion premium) to the issuer’s share price at

the time of issue. The amount of the premium is a matter of negotiation between the

issuer and the lead managers of the issue.

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Typical features of convertible bonds include:

 adjustment provisions – the conversion price usually does not change over the life

of the bond except to the extent that it is adjusted pursuant to anti-dilution

provisions designed to protect the value of the conversion/exchange right in

certain circumstances including rights issues, share splits and capital distributions;

 issuer call (often referred to as a “soft call”) – allowing the issuer to redeem the

bonds at a fixed price at a future date if the market price of the underlying shares

exceed the initial conversion price (usually by 130% to 140%) over a specified

period thereby forcing holders to convert/exchange and realize the appreciation in

the share price; and

 Bondholder put – allowing the holder to choose to have the bonds redeemed at a

pre-determined level at a fixed future date. The put price is typically at a premium

so that, on exercise, the holder will receive a yield equivalent to a straight bond

issued by that company.

FACTORS AFFECTED FOR THE SHARE PRICES

Share prices are affected by the following factors. The major factors are

* Inflation

* Deflation

* Interest Rates

* Exchange Rates

9
INFLATION

An increase in the cost of goods and services over a period of time. Decreases the

purchasing power of the dollar. It is usually measured by the consumer price index.

INTEREST RATES

The fee paid to a leader to borrow its money or a penalty charged for late payments

usually shown as annual percentage rate.

DEFLATION:

The drop in the cost of goods and services over a period of time. Usually caused by a

shrinking supply of money or credit, or reduced spending by consumers or government.

Boosts Purchasing power of the dollar.

EXCHANGE RATES:

The price of one country's currency expressed in another country's currency. In other

words, the rate at which one currency can be exchanged for another.

Equity Issuance

Bonus issues are issues of shares by a company to its members, the subscription price for

which is met by the company capitalizing its reserves.

Bonus issues allow the share capital of a company to be increased without further cash or

assets being introduced.

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Scrip Dividends

A company may decide to give its shareholders the choice of taking a dividend either in

cash or, as an alternative by way of “Scrip” whereby a shareholder may elect to take

shares in respect of all or part of what would otherwise be his/her cash dividend

entitlement. In the case of a listed company, the price of the new shares will normally be

based upon the average market price of the existing shares of the company over the five

dealing days following the ex dividend date. In the case of an unlisted company another

means of valuation will be required. A shareholder electing to take shares will also

receive a balancing payment to ensure that he/she receives the full dividend entitlement.

A listed company which gives the choice of a scrip dividend alternative will send a

circular to its shareholders setting out the terms of the issue. Companies sometimes set up

a permanent scrip dividend scheme under which a shareholder gives a mandate to the

company to issue it with shares rather than cash each time a dividend is declared until it

gives notice to the contrary. This has cost, cash flow and administration advantages for a

company that regularly pays interim and final dividends and has a large shareholder base.

Pre-Emption Rights

Before issuing new securities, a company should consider whether there are any pre-

emption rights conferred on existing shareholders, either by statute, regulation or by the

company’s constitutional documents. On a new issue of securities, pre-emption rights

11
provide that existing shareholders may subscribe for further shares pro rata to their

existing holdings.

In broad terms, the protection of the priority rights of existing shareholders to subscribe

for further share issues, and the ability to sell those rights, give shareholders the chance to

ensure that the value of their individual interests are preserved.

• Equity share capital remains permanently with the company. It is returned only when

the company is wound up.

• Equity shareholders have voting rights and elect the management of the company.

• The rate of dividend on equity capital depends upon the availability of surplus

funds. There is no fixed rate of dividend on equity capital

Evaluation from view point of company:

 Permanent capital

 No charge on property

 No obligation to pay dividend

 High premium

 High credit worthiness

Evaluation from view point of shareholders:

 Higher dividend

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 Voting right

 Capital appreciation

 Good liquidity

1. Equity shares do not create any obligation to pay a fixed rate of dividend.

2. Equity shares can be issued without creating any charge over the assets of the

company.

3. It is a permanent source of capital and the company has to repay it except under

liquidation.

4. Equity shareholders are the real owners of the company who have the voting rights.

5. In case of profits, equity shareholders are the real gainers by way of increased

dividends and appreciation in the value of shares.

6. A better understanding of the stock market trend will facilitate allocation of financial

sources to the most profitable investment opportunity.

7. The behavior of stock returns will enable the investors to make appropriate

investment decisions.

8. The fluctuations of stock returns are due to several economic and non-economic

factors. The study is aimed at ascertaining the behavior of share returns.

13
 9. The study on fluctuations in equity market helps in understanding the behavior of

equity market.

10. It helps the investors to be aware about deviations in the returns of the stocks. The

simple moving average model indicates the buy and sell signal to the investors.

11. This helps the investors is taking good decisions when investing in equity shares.

12. The study also helps the customers to ascertain the risk and return of the stocks.

This will help the investors viz, individuals, Files in identifying the stocks which would

yield them higher return and lesser risk.

Primary Market

Market for new issues of securities, as distinguished from the Secondary market, where

previously issued securities are bought and sold market is primary if the proceeds of sales go

to the issuer of the securities sold.

Secondary Market

The market where securities are traded after they are initially offered in the primary market.

Most trading is done in the secondary market. To explain further, it is trading in previously

issued financial instruments. An organized market for used securities. Examples are the Bombay

Stock Exchange (BSE), National Stock Exchange NSE, bond markets, over-the-counter markets,

residential mortgage loans, governmental guaranteed loans etc.

Bull & Bear Market

There are two classic market types used to characterize the general direction of the

market. Bull markets are when the market is generally rising, typically the result of a
14
strong economy. A bull market is typified by generally rising stock prices, high economic

growth, and strong investor confidence in the economy. Bear markets are the opposite. A bear

market is typified by falling stock prices, bad economic news, and low investor

confidence in the economy. A bull market is a financial market where prices of

instruments (e.g., stocks) are, on average, trending higher. The bull market tends to be

associated with rising investor confidence and expectations of further capital gains. A

market in which prices are rising. A market participant who believes prices will move

higher is called a "bull". A news item is considered bullish if it’s expected to result in

higher prices. Simply put, bull markets are movements in the stock market in

which prices are rising and the consensus is that prices will continue moving upward.

During this time, economic production is high, jobs are plentiful and inflation is low.

Bear markets are the opposite--stock prices are falling, and the view is that they will

continue falling. A key to successful investing during a bull market is to take advantage

of the rising prices. For most, this means buying securities early, watching them rise in

value and then selling them when they reach a high. However, as simple as it sounds, this

practice involves timing the market. Since no one knows exactly when the market will

begin its climb or reach its peak, virtually no one can time the market perfectly. The

opposite of a bull market is a bear market when prices are falling in financial market for a

prolonged period of time. A bear market tends to be accompanied by widespread

pessimism. A bear market is slang for when stock prices have decreased for an extended

period of time. If an investor is "bearish" they are referred to as a bear because they

believe a particular company, industry, sector, or market in general is going to go down

15
OBJECTIVES OF THE STUDY:

1. To Evaluate the performance of equity shares of selected stocks available in India.

2. To study the performance of shares with respect to different sector of equity

3. To study the risk returns of equity available in India.

4. To study the perception of Indian individual investors towards the investment in equity

shares.

NEED FOR THE STUDY

The present study enables us to identify the opportunities available in Indian stocks. The

purpose of the study is to give an idea to investors.

Investments decisions are influenced by various motives. Return is a primary motivating

force that drives investment. It represents the reward for undertaking investment. Since

the game of investing is about returns after allowing for risk. Measurement of

realized(historical) returns is necessary to access how well the investment manager has

done. In addition, it helps in assessment of risk involved.

SCOPE OF THE STUDY

The study is extended to 5 stocks are selected from equities BSE Sensex of Bombay

Stock Exchange. The study is for a duration of five years (i.e. from Jan 2012 to June

2016).

16
RESERARCH METHODOLOGY:

In simple words Data collection refers to the gathering of set of observations about

variables and it is the starting point of research methods. Basically there are two types of

data which are

 Primary data

 Secondary data

Primary data:

Primary data is received from the first hand sources such as direct

observation, interview, survey and questionnaire etc. The term primary research is widely

used in academic research, market research and competitive intelligence.

Secondary data

The secondary data collection method includes, data collection from

magazine of the NSE, economics times etc.

TOOLS USED:

The formulas are used in this project is:

Risk=√∑D2/(N-1)

Where D=difference N=number of days

Co-efficient of variant=risk/return

17
LIMITATIONS:

 The time availability for project work is constrained i.e. limited 45 days only.

 The study is confined to five selected stocks only.

 The study is restricted to five years data only and hence the result of the study

may be true for the period before and after the study.

18
 CHAPTER II

REVIEW OF LITERATURE

19
Introduction

Benet, James A.et.al (2001) have conducted a study on "can money flow predict is

defined as the difference between up stick and down stick dollar trading volume. The

study says that despite little published research regarding its usefulness, the measure has

become an increasingly popular technical indicator because of its own means. The study

summarizes its most important finding that money flow appears to predict across-

sectional variation in future returns. Their predictive ability is sensitive, however, to the

method of money flow measurement (e.g. the exclusion or inclusion of block trades) and

the Forecast horizon.

Daigle Robert T.et.Al., (1981)2 have conducted a study on the development and testing

of trading rules on the New York stock Exchange which are based on the discriminate

Function. The study analysis the ability of daily technical indicators to predict future

changes in the "standard and poor's 500 index". The study also signifies that the

Technical indicators possess predictive ability to the extent that investor's possess

predictive ability to the extent that investors believe they contain information on Future

Market developments, and/or to the extent that the indicators reflect changing

expectations among market participants. The study summarizes that the initial analysis of

the relationship between daily technical data and future market movements is

accomplished by examining the statistical difference between the group means (computed

via the usual F test applied to the group means estimated from the discriminate function)

of predicted "up days" versus predicted "down days" ("Up" and "down" days are define

shortly). The statistical analysis is extended by classifying the observations into groups.

20
Micko Tanaka Yamawaki et. Al., (2007) 7 have conducted a study on the Adaptive use of

Technical Indicators for predicting the Intra-Day price movements. The researcher has

proposed a system to select the best combination of technical indicators and their

parameter values adaptively by learning the patterns from the tick-wise financial data. In

this paper, the researcher has shown that this system gives good predictions on the

directors of motion with the hitting rate at 10 ticks ahead of the decision point as high as

70% for foreign exchange rates (FX) in five years from kl1996 to 2000 and 8 different

stock prices in NYSE market in 1993 The study concludes that the tick-wise price time

series carry a long memory of the order of at least a few minutes, which is equivalent to

10 ticks.

According to Prasanna Chandra(2000) “Equity represents ownership capital, as equity

shareholders collectively own the company. They enjoy the rewards and bear the risk of

ownership however, their liability; unlike the liability of the owner in a partner concern is

limited to their capital contribution”.

In the view of Elizabeth Weintraub “Equity is the difference between the market

value of your home and the amount you owe to the lender. Net equity is different from

gross equity. Net equity is the gross equity less the costs of selling the home”.

In the context of equity, Warren Buffet says “Only buy something that you’d be

perfectly happy to hold if the market down for 10 years”.

As per the George Soros “Prevailing wisdom is that markets assume they are

always wrong”.

21
 In the perspective of Martin J.Pring “The technical approach to investing is

essentially a reflection of the idea that prices move in trends which are determined by the

changing attitudes of investors toward a variety of economic, monetary, political and

psychological forces. The art of technical analysis for it is art is to identify trend changes

at an early stage and to maintain an investment posture until the weight of the evidence

indicates that the trend has been reversed”. The Indian capital market has changed

dramatically over the last few years, especially since 1990. Changes have also been

taking place in government regulations and technology. The expectations of the investors

are also changing. The only inherent feature of the capital market, which has not changed

is the 'risk' involved in investing incorporate securities. Managing the risk is emerging as

an important function of both large scale and small-scale investors.

Grewal S.S and Navjot Grewall (1984) revealed some basic investment rules and

rules for selling shares. They warned the investors not to buy unlisted shares, as Stock

Exchanges do not permit trading in unlisted shares. Another rule that they specify is not

to buy inactive shares, i.e., shares in which transactions take place rarely. The main

reason why shares are inactive is because there are no buyers for them. They are mostly

shares of companies, which are not doing well.

A third rule according to them is not to buy shares in closely-held companies because

these shares tend to be less active than those of widely held ones since they have a fewer

number of shareholders. They caution not to hold the shares for a long period, expecting

a high price, but to sell whenever one earns a reasonable reward.

22
 Jack Clark Francis (1986) revealed the importance of the rate of return in

investments and reviewed the possibility of default and bankruptcy risk. He opined that in

an uncertain world, investors cannot predict exactly what rate of return an investment will

yield. However he suggested that the investors can formulate a probability distribution of

the possible rates of return. He also opined that an investor who purchases corporate

securities must face the possibility of default and bankruptcy by the issuer. Financial

analysts can foresee bankruptcy. He disclosed some easily observable warnings of a

firm's failure, which could be noticed by the investors to avoid such a risk.

Preethi Singh(1986) disclosed the basic rules for selecting the company to invest in.

She opined that understanding and measuring return and risk is fundamental to the

investment process. According to her, most investors are 'risk averse'. To have a

higher return the investor has to face greater risks. She concludes that risk is fundamental

to the process of investment. Every investor should have an understanding of the various

pitfalls of investments. The investor should carefully analyze the financial statements

with special reference to solvency, profitability, EPS, and efficiency of the company.

David.L.Scott and William Edward4 (1990) reviewed the important risks of owning

common stocks and the ways to minimize these risks. They commented that the severity

of financial risk depends on how heavily a business relies on debt. Financial risk is

relatively easy to minimize if an investor sticks to the common stocks of companies that

employ small amounts of debt. They suggested that a relatively easy way to ensure some

degree of liquidity is to restrict investment in stocks having a history of adequate trading

volume. Investors concerned about business risk can reduce it by selecting common

stocks of firms that are diversified in several unrelated industries. Lewis Mandells (1992)

23
reviewed the nature of market risk, which according to him is very much 'global'. He

revealed that certain risks that are so global that they affect the entire investment market.

Even the stocks and bonds of the well-managed companies face market risk. He

concluded that market risk is influenced by factors that cannot be predicted accurately

like economic conditions, political events, mass psychological factors, etc. Market risk is

the systemic risk that affects all securities simultaneously and it cannot be reduced

through diversification

Nabhi Kumar Jain (1992) specified certain tips for buying shares for holding and

also for selling shares. He advised the investors to buy shares of a growing company of a

growing industry. Buy shares by diversifying in a number of growth companies operating

in a different but equally fast growing sector of the economy.

He suggested selling the shares the moment company has or almost reached the

peak of its growth. Also, sell the shares the moment you realize you have made a mistake

in the initial selection of the shares. The only option to decide when to buy and sell high

priced shares is to identify the individual merit or demerit of each of the shares in the

portfolio and arrive at a decision.

Carter Randal (1992) offered to investors the underlying principles of winning on

the stock market. He emphasized on long-term vision and a plan to reach the goals. He

advised the investors that to be successful, they should never be pessimists. He revealed

that though there has been a major economic crisis almost every year, it remains true that

patient investors have consistently made money in the equities market. He concluded that

24
investing in the stock market should be an un-emotional endeavor and suggested that

investors should own a stock if they believe it would perform well.

S.Rajagopal. (1996) commented on risk management in relation to banks. He opined

that good risk management is good banking. A professional approach

to Risk Management will safeguard the interests of the banking institution in the long

run. He described risk identification as an art of combining intuition with formal

information. And risk measurement is the estimation of the size, probability and timing of

a potential loss under various scenarios.

Charles.P.Jonesl8 (1996) reviewed how to estimate security return and risk. To

estimate returns, the investors must estimate cash flows the securities are likely to

provide. Also, investors must be able to quantify and measure risk using variance or

standard deviation.

Variance or standard deviation is the accepted measure of variability for both realized

returns and expected returns. He suggested that the investors should use it as the situation

dictates.

He revealed that over the past 12 years, returns in stocks, bonds, etc. have been

normal. Blue chip stocks have returned an average of more than 16% per year. He

warned that the investors who believe that these rates will continue in the future also, will

be in trouble. He also warned the investors not to allow themselves to become

victimized by "investment gurus".

25
 Rukmani Viswanath (2001) reported that the Primary Dealers in Govt. securities

are working on a new internal risk management model suited for the Indian market

conditions. The attempt is to lay down general parameters for risk perception

The Primary Dealers Association of India (PDAI) is formulating a set of

prudential norms for 'risk management practices'. While internationally the principles

of risk management may be the same everywhere, the Association is of the view that they

have to identify the relevant issues and apply those principles in the Indian context. It

strongly argues that it must work on a model that can help to manage liquidity and

interest rate risk. While the existing RBI guidelines on risk management cover mainly

statutory risk, the PDAI hopes that its new risk management model will be able to

perceive 'real risk'. These new norms are expected to help gauge several issues like,

whether a fall in the prices of securities or yields is a temporary or permanent situation

etc. The areas the new norms are likely to address are the assessment of the liquidity

situation and envisaging investor appetite for a specific instrument and their appetite

for risk. According to the govt. securities dealers, these norms are expected to help them

hedge.

26
 CHAPTER III

 INDUSTRY PROFILE

 COMPANY PROFILE

27
Introduction

The Indiabulls Group is an Indian conglomerate headquartered in Gurgaon, India. It was

founded by Mr. Sameer Gehlaut (Chairman) in 1999, and operates in sectors spread

across housing finance, real estate & wealth management. The three main independently

listed companies of the group are Indiabulls Housing Finance Limited (IBHFL),

Indiabulls Real Estate Limited (IBREL), and Indiabulls Ventures Limited (IBVL).

The India bulls Group has a net worth of Rs. 15,332 Cr. as of 30 June, 15 and is one of

the top dividend paying groups amongst the Indian listed promoter owned

group/companies.

In 2013, India bulls Financial Services reverse merged with its own subsidiary India bulls

Housing Finance to form the flagship company of the group.

India bulls Group is one of the country’s leading business houses with interests in

housing finance, real estate, securities, construction equipment leasing and facilities

sector. The group had combined revenues of over Rs. 8,300 Cr and PAT of over Rs.

1,900 Cr for the year ended 31 March 2014. All the group companies are listed on the

Bombay Stock Exchange, and the National Stock Exchange. The combined market

capitalization of these companies as on 30th June 2014 was Rs. 17,900 Cr.

India bulls Ventures Limited (Formerly India bulls Securities Limited) is one of India's

leading capital markets companies providing securities broking and advisory services.

India bulls Ventures also provides depository services, equity research services to its

clients and offers commodities trading through a separate company. These services are

28
provided both through on-line and off-line distribution channels. India bulls Ventures is a

pioneer of on-line securities trading in India. India bulls Ventures' in-house trading

platform is one of the fastest and most efficient trading platforms in the country.

India bulls Group started with its securities trading business, which incubated the

financial services business. The financial service business went on to incubate other

businesses. Thus in many ways the securities business was the seed that today has grown

to independently manage and separately listed business of the group. India bulls Ventures

has been assigned the highest broker quality rating BQ1 by CRISIL

India bulls are an Indian group with its Headquarters in Gurgaon and Corporate Office in

Mumbai. It has presence in sectors ranging from Real Estate, Infrastructure, Housing

Finance and Securities.

Mission

In keeping with our philosophy of creating value for our investors, we shall strive to

achieve the fine balance between safety, liquidity and return in the most ethical and

transparent manner. While maximizing our unit holders’ wealth by a judicious use of

risk-reward paradigm, we hope to enjoy the complete trust and confidence of our

investors and emerge as a “fund house of choice."

Products

India bulls Ventures Limited (Formerly India bulls Securities Limited) is the pioneer in

Retail Broking Industry having a pan India presence and providing services to a customer

base exceeding half a million. India bulls Ventures is in the business of providing

29
securities broking and advisory services and is a corporate member of capital market,

wholesale debt market and derivative segment of NSE and of the capital market and

derivative segment of BSE. India bulls Ventures is a brokerage house to be assigned the

highest rating BQ-1 by CRISIL.

The company through various types of brokerage accounts provides product and services

related to purchase and sale of securities listed in NSE and BSE. It also provides

depository services, equity research services, mutual fund, IPO distribution to its clients.

The company provides these services through on-line and off-line distribution channel.

Equity

India bulls Equity Analysis complements its equity broking and advisory services with

high quality comprehensive report which can be accessed online. Research report assess

the potential strength and investment risk by doing in-depth and exhaustive analysis of

operational and financial performance of company, Peer group analysis, present Industry

scenario using advanced and sophisticated forecasting tools and models. These research

reports identify, examine and distill attractive investment opportunities to help you in

building and maintaining your ideal portfolio.

Salient features of India bulls Equity Analysis:

Covers report of more than 540 company

Updated on a daily basis

Scorecard on Fundamentals, Valuations and risk

30
Peer Analysis

Valuation of potential growth

Industry Scenario

Expansion plan

Details of Mergers and Acquisitions

These reports are available to clients without any additional cost. If you are not a client

and wish to view a sample report, please share your details with us.

Commodity

India bulls Commodities Limited, a 100% subsidiary of India bulls Ventures Limited

(Formerly India bulls Securities Limited), offers commodity brokerage services to its

customers. ICL is a registered Trading-cum-Clearing member of Multi Commodity

Exchange of India Ltd. (MCX) and National Commodity and Derivatives Exchange Ltd

(NCDEX). These two Commodity Exchanges have shown a phenomenal growth in

trading volumes. Significant Trading and Arbitrage opportunities exist for informed

players in the futures market.

ICL is the right partner for you if you are keen on tapping opportunities being presented

by this nascent commodities futures market. We offer a clearly differentiated product to

our clients with a strong focus on research. Our commodities research team has a rich

research experience in the commodities markets. The specialized services provided by

31
our research team include daily intraday reports, reports on Agra-commodities & Metals,

weekly & medium term market outlook and arbitrage strategies.

Our retail branch network is one of the largest retail branch networks in the private

financial services sector and provides our customers with an unmatched distribution and

service capability. Our flagship India bulls network, spread over more than 250 India

bulls offices in 80 cities, offers real-time prices, detailed data and news, intelligent

analytics and electronic trading capabilities, right at your fingertips.

ICL offers dedicated Relationship Manager to cater to all your trading related

requirements. To provide the highest possible quality of service, we provide full access to

all our products and services through multiple channels.

Mutual Funds

ICICI Prudential Balanced Advantage Fund Announces Dividend (06 Jun 2016)

Kotak FMP Series 195 (1099 Days) Floats On (06 Jun 2016)

ICICI Prudential Interval Fund II - Quarterly Interval Plan B Announces Dividend(03 Jun

2016)

Canara Robeco MF Announces Change in exit load structure under two schemes(03 Jun

2016)

LIC MF Fixed Maturity Plan - Series 85 Announces Rollover (03 Jun 2016)

UTI MF Announces Dividend under UTI Fixed Income Interval Fund - Monthly Interval

Plan - II & Series - II Quarterly Interval Plan - VI (03 Jun 2016)

32
ICICI Prudential India Recovery Fund - Series 7 Floats On (03 Jun 2016)

MFs turn sellers (03 Jun 2016)

Edelweiss Arbitrage Fund Announces Dividend (02 Jun 2016)

ICICI Prudential Interval Fund II - Quarterly Interval Plan B Announces Dividend (02

Jun 2016)

Derivatives

India bulls offers trading in the Currency Derivatives Segment in National Stock

Exchange (NSE)

Currency Derivatives are similar in nature to Stock Futures & Option contracts. Currency

Derivatives Contracts (USD-INR, EUR-INR, GBP-INR and JPY-INR) at exchange rate

as the underlying are available for trading with a monthly expiry. At any given time,

Currency Derivatives Contracts are available for trading for the next 12 months expiry

for futures whereas 3 months expiry and 1 quarterly expiry for Options.

The Mark-to-Market for Currency Derivatives is settled on a daily basis in a manner

similar to Equity Futures & Options.

The market for Currency Derivatives is open from 9 A.M to 5 P.M (Monday to Friday).

Registration for Currency Derivatives Segment (CDS) and Online Trading Facility

You can initiate trading in Currency derivatives Segment by following a simple

registration procedure. India bulls also offers you the convenience of Online Trading in

33
Currency Derivatives. For registration in CDS and availing Online Trading facility,

please contact your Service Branch / Relationship Manager.

IPO

For various reasons, we often miss the opportunity of subscribing to an IPO. It can either

be because we could not procure the application form or we did not have the time to fill

up the form and submit it. The most important benefit of the 'ONLINE IPO facility

offered by India bulls Ventures Limited (Formerly India bulls Securities Limited). is the

convenience in submission of applications from anywhere breaking the limitations of

time and geography. You don’t need to submit the application in paper form, or write a

cheque or go to submit it anywhere.

Now you have the convenience at your fingertip. You can quickly and seamlessly apply

to the latest public offerings with just a few clicks. India bulls Ventures Ltd. offers

ONLINE IPO facility to its registered trading customers at absolutely no cost.

To use the ONLINE IPO feature, you need to fulfill the following criteria :

You must be registered for internet Trading with India bulls Ventures Ltd.

You must have a demat account with India bulls Ventures Ltd.

You must have signed the POA agreement for Online IPOs.

34
 You must have access to Net Banking facility with those banks with which India bulls

is providing Payment Gateways. Currently, we are providing payment gateways for

ICICI, IDBI and HDFC Banks.

To sign the agreement for online IPO facility, please get in touch with your relationship

manager or branch

Depository Services

India bulls is a depository participant with the National Securities Depository Limited

and Central Depository Services (India) Limited for trading and settlement of

dematerialised shares. India bulls performs clearing services for all securities transactions

through its accounts. We offer depository services to create a seamless transaction

platform – execute trades through India bulls Ventures Limited (Formerly India bulls

Securities Limited) and settle these transactions through the India bulls Depository

Services. India bulls Depository Services is part of our value added services for our

clients that create multiple interfaces with the client and provide for a solution that takes

care of all your needs.

Documentary Requirements for Depository Account

To receive E-statements & SMS Alerts

Declaration for Basic Services Demat Account (BSDA)

To update your Contact Details in Demat account

35
Requirements for Demat Account Address Change

To change Bank Details In Your Demat Account

To activate ECS in your Demat Account

To update your PAN Details in Demat Account

To operate a demat account with or without a nominee

Schedule of charges for Resident Individual, Corporate, NRI /OCB

NSDL

Combined DP Schedule of Charges

CDSL

Awards & Recognition:

India bulls was conferred the status of a Business Super brand by The Brand Council,

Super brands India in 2008.

India bulls Housing Finance was awarded the Presidential Award for ‘The Fastest

Growing Company' by NAREDCO in 2014.

IBHFL was awarded "Best Employer Brand", June 2012 for its human resource practice

by The Institute of Public Enterprises.

India bulls Housing was awarded the Best HFC of the year, 2013 at ASSOCHAM Real

Estate Excellence Awards.

36
India bulls Real Estate project, India bulls Greens, Chennai won the Construction

Industry Award’ 2014 for excellence in Gated Community Projects

India bulls Real Estate project, India bulls Golf City, Mumbai was awarded by

International Property Awards as the Best Golf Development in India for Asia Pacific

2015.

India bulls Real Estate commercial project, One India bulls Center, was awarded as the

Best Commercial Property at the Ahwaz CRISIL CREDAI Real Estate Awards in 2009 .

Award and achievements

MILESTONES OF COMPANY:

37
KEY MILESTONES

IBHFL

2nd largest private housing finance company

AAA rated by Credit Agencies

Servicing over 8 lakh customers

IBREL

3rd largest real estate company by net worth and assets

Delivered a record 4.7 million sq ft developed space

Credit rating of AA-, highest amongst Indian real estate developers

IVL

Fee based wealth management platform

Rated BQ1 by CRISIL - highest for any brokerage in India

Servicing over 7 lakh clients

38
 CHAPTER IV

 DATA ANALYSIS AND

INTERPRETATION

39
 DATA ANALYSIS AND INTREPRETATION

Calculation of Risk and Returns of HDFC BANK

Open Close
Month Price Price Returns Average Difference D*D

01-01-12 431.8 490.9 13.687 1.936 11.751 138.082

01-02-12 491.05 517.8 5.448 1.936 3.511 12.330

01-03-12 513.05 520.05 1.364 1.936 -0.572 0.327

01-04-12 518.2 542.2 4.631 1.936 2.695 7.265

01-05-12 542 505.95 -6.651 1.936 -8.587 73.742

01-06-12 508.05 563.5 10.914 1.936 8.978 80.609

01-07-12 565 587.85 4.044 1.936 2.108 4.444

01-08-12 585.15 595.05 1.692 1.936 -0.244 0.060

01-09-12 595 628.7 5.664 1.936 3.728 13.897

01-10-12 630 634.55 0.722 1.936 -1.214 1.473

01-11-12 636 703.65 10.637 1.936 8.701 75.703

01-12-12 700 678.8 -3.029 1.936 -4.965 24.647

01-01-13 682.95 643.4 -5.791 1.936 -7.727 59.708

01-02-13 645 625.6 -3.008 1.936 -4.944 24.441

01-03-13 626 624.1 -0.304 1.936 -2.240 5.016

01-04-13 629.75 682.15 8.321 1.936 6.385 40.765

01-05-13 682.2 700.45 2.675 1.936 0.739 0.546

01-06-13 700.9 668.5 -4.623 1.936 -6.559 43.016

01-07-13 670 609.7 -9.000 1.936 -10.936 119.597

40
01-08-13 618 593.8 -3.916 1.936 -5.852 34.245

01-09-13 596 593.7 -0.386 1.936 -2.322 5.391

01-10-13 597 679.45 13.811 1.936 11.875 141.008

01-11-13 679.45 661.2 -2.686 1.936 -4.622 21.363

01-12-13 661 665.75 0.719 1.936 -1.217 1.482

01-01-14 666.75 628.9 -5.677 1.936 -7.613 57.955

01-02-14 632.5 667.5 5.534 1.936 3.598 12.942

01-03-14 666 748.85 12.440 1.936 10.504 110.332

01-04-14 753 718.25 -4.615 1.936 -6.551 42.915

01-05-14 724.25 794.1 9.644 1.936 7.708 59.420

01-06-14 795 821.35 3.314 1.936 1.378 1.900

01-07-14 825.2 833.65 1.024 1.936 -0.912 0.832

01-08-14 829 842.95 1.683 1.936 -0.253 0.064

01-09-14 846 871.5 3.014 1.936 1.078 1.162

01-10-14 868.25 912.2 5.062 1.936 3.126 9.771

01-11-14 912 957.4 4.978 1.936 3.042 9.254

01-12-14 957.15 952 -0.538 1.936 -2.474 6.121

01-01-15 952 1076 13.025 1.936 11.089 122.969

01-02-15 1068 1067.85 -0.014 1.936 -1.950 3.803

01-03-15 1082 1022.85 -5.467 1.936 -7.403 54.801

01-04-15 1026 989.2 -3.587 1.936 -5.523 30.501

01-05-15 995 1051.1 5.638 1.936 3.702 13.706

01-06-15 1051.25 1067.45 1.541 1.936 -0.395 0.156

01-07-15 1063 1111.2 4.534 1.936 2.598 6.751

01-08-15 1111.2 1028.15 -7.474 1.936 -9.410 88.547

01-09-15 1027.45 1068.9 4.034 1.936 2.098 4.402

41
 01-10-15 1070 1097.05 2.528 1.936 0.592 0.350

01-11-15 1097.05 1075.95 -1.923 1.936 -3.859 14.895

01-12-15 1073 1082.75 0.909 1.936 -1.027 1.056

01-01-16 1084.9 1048.95 -3.314 1.936 -5.250 27.560

01-02-16 1055 972.55 -7.815 1.936 -9.751 95.086

01-03-16 980 1071.2 9.306 1.936 7.370 54.318

01-04-16 1066 1133.45 6.327 1.936 4.391 19.284

01-05-16 1130 1181.35 4.544 1.936 2.608 6.803

01-06-16 1181 1175.9 -0.432 1.936 -2.368 5.607

01-07-16 1178.9 1218.05 3.321 1.936 1.385 1.918

1.936 1794.340

Average Returns = 1.936

Risk = √∑D2/(N-1)

=√1794.340/(55-1)

= 33.229

Co-efficient of Variation = Risk/Return

=33.229/1.936

=17.164

42
 Graphical Representation of Risk and Returns of HDFC BANK

Returns
15.000

10.000

5.000

0.000 Returns
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55
-5.000

-10.000

-15.000

INTERPRETATION:

The above Graph shows that the Returns of HDFC BANK. The HDFC BANK has an

Average Returns of 1.936, Risk is 33.229, and Co-Efficient of Variation is 17.164. The

Highest Market Value is 1181 on 1-06-16 and the Lowest Market Value is 431.8 on 01-

01-12.

43
 Calculation of Risk and Returns of SYNDICATE BANK

Open Close
Month Price Price Returns Average Difference D*D

01-01-12 69.000 96.250 39.493 0.965 38.527 1484.353

01-02-12 96.500 109.800 13.782 0.965 12.817 164.274

01-03-12 110.000 111.050 0.955 0.965 -0.011 0.000

01-04-12 111.500 103.150 -7.489 0.965 -8.454 71.474

01-05-12 104.500 92.500 -11.483 0.965 -12.449 154.970

01-06-12 93.000 106.750 14.785 0.965 13.819 190.978

01-07-12 107.300 98.900 -7.829 0.965 -8.794 77.334

01-08-12 98.000 93.950 -4.133 0.965 -5.098 25.991

01-09-12 94.100 108.200 14.984 0.965 14.019 196.521

01-10-12 109.950 117.600 6.958 0.965 5.992 35.907

01-11-12 117.700 127.650 8.454 0.965 7.488 56.074

01-12-12 127.700 128.150 0.352 0.965 -0.613 0.376

01-01-13 129.600 134.500 3.781 0.965 2.815 7.927

01-02-13 134.700 116.750 -13.326 0.965 -14.291 204.243

01-03-13 115.900 109.950 -5.134 0.965 -6.099 37.200

01-04-13 111.250 119.850 7.730 0.965 6.765 45.764

01-05-13 121.000 127.800 5.620 0.965 4.654 21.663

01-06-13 128.500 109.100 -15.097 0.965 -16.063 258.011

01-07-13 110.950 87.850 -20.820 0.965 -21.786 474.614

01-08-13 88.000 64.200 -27.045 0.965 -28.011 784.611

01-09-13 65.000 67.550 3.923 0.965 2.958 8.748

44
01-10-13 67.750 81.200 19.852 0.965 18.887 356.717

01-11-13 81.200 88.850 9.421 0.965 8.456 71.499

01-12-13 89.950 94.600 5.170 0.965 4.204 17.674

01-01-14 95.500 84.550 -11.466 0.965 -12.431 154.540

01-02-14 84.700 80.650 -4.782 0.965 -5.747 33.028

01-03-14 80.550 96.500 19.801 0.965 18.836 354.792

01-04-14 96.000 103.100 7.396 0.965 6.430 41.350

01-05-14 103.500 141.000 36.232 0.965 35.266 1243.721

01-06-14 141.100 175.000 24.026 0.965 23.060 531.766

01-07-14 176.000 143.750 -18.324 0.965 -19.289 372.078

01-08-14 142.200 119.550 -15.928 0.965 -16.894 285.398

01-09-14 120.050 109.150 -9.080 0.965 -10.045 100.902

01-10-14 110.000 125.750 14.318 0.965 13.353 178.295

01-11-14 126.500 130.250 2.964 0.965 1.999 3.996

01-12-14 130.300 131.600 0.998 0.965 0.032 0.001

01-01-15 131.700 117.200 -11.010 0.965 -11.975 143.408

01-02-15 115.000 119.300 3.739 0.965 2.774 7.693

01-03-15 120.000 101.300 -15.583 0.965 -16.549 273.862

01-04-15 100.350 99.400 -0.947 0.965 -1.912 3.656

01-05-15 99.400 116.750 17.455 0.965 16.489 271.896

01-06-15 116.700 98.200 -15.853 0.965 -16.818 282.847

01-07-15 99.000 95.100 -3.939 0.965 -4.905 24.058

01-08-15 95.900 85.350 -11.001 0.965 -11.966 143.197

01-09-15 85.250 82.500 -3.226 0.965 -4.191 17.567

01-10-15 83.500 93.850 12.395 0.965 11.430 130.639

01-11-15 94.550 95.800 1.322 0.965 0.357 0.127

45
 01-12-15 96.150 87.650 -8.840 0.965 -9.806 96.154

01-01-16 88.000 67.550 -23.239 0.965 -24.204 585.838

01-02-16 68.000 51.150 -24.779 0.965 -25.745 662.798

01-03-16 51.500 67.700 31.456 0.965 30.491 929.692

01-04-16 67.700 69.500 2.659 0.965 1.693 2.867

01-05-16 69.000 67.100 -2.754 0.965 -3.719 13.832

01-06-16 67.150 72.800 8.414 0.965 7.449 55.481

01-07-16 73.350 79.050 7.771 0.965 6.806 46.315

0.965 11738.719

Average Returns = 0.965

Risk = √∑D2/(N-1)

=√11738.719/(55-1)

=14.744

Co-efficient of Variation = Risk/Return

= 14.744/0.965

= 15.279

46
 Graphical Representation of Risk and Returns of SYNDICATE BANK

Returns
50.000
40.000
30.000
20.000
10.000
Returns
0.000
-10.000 1 5 9 13 17 21 25 29 33 37 41 45 49 53
-20.000
-30.000
-40.000

INTERPRETATION:

The above Graph shows that the Returns of Syndicate Bank. The Syndicate Bank has an

Average Returns of 0.965, Risk is 14.744 and Co-Efficient of Variation is 15.279. The

Highest Market Value is 176.0 on 01-07-14 and the Lowest Market Value is 51.5 on 01-

03-16

47
 Calculation of Risk and Returns of TECH Mahindra Ltd

Open Close
Month Price Price Returns Average Difference D*D

01-01-12 576 651.7 13.142 1.324 11.819 139.684

01-02-12 655.8 600.2 -8.478 1.324 -9.802 96.074

01-03-12 599.05 719.65 20.132 1.324 18.808 353.753

01-04-12 730 700.2 -4.082 1.324 -5.406 29.222

01-05-12 701.95 670.65 -4.459 1.324 -5.783 33.438

01-06-12 666.5 707.95 6.219 1.324 4.896 23.966

01-07-12 709.5 711.9 0.338 1.324 -0.985 0.971

01-08-12 717 797.95 11.290 1.324 9.967 99.332

01-09-12 802 971.8 21.172 1.324 19.849 393.964

01-10-12 972 947.7 -2.500 1.324 -3.824 14.620

01-11-12 948 883.4 -6.814 1.324 -8.138 66.225

01-12-12 886 931.4 5.124 1.324 3.801 14.445

01-01-13 932.15 999.4 7.215 1.324 5.891 34.703

01-02-13 1001.1 1046.7 4.555 1.324 3.231 10.442

01-03-13 1050 1059.15 0.871 1.324 -0.452 0.204

01-04-13 1068 954.5 -10.627 1.324 -11.951 142.824

01-05-13 960 966.65 0.693 1.324 -0.631 0.398

01-06-13 965 1059.1 9.751 1.324 8.428 71.027

01-07-13 1058.9 1246.8 17.745 1.324 16.421 269.658

01-08-13 1248 1376.75 10.317 1.324 8.993 80.873

01-09-13 1376 1332.15 -3.187 1.324 -4.510 20.343

48
01-10-13 1336.1 1550.4 16.039 1.324 14.716 216.551

01-11-13 1559.5 1698.1 8.887 1.324 7.564 57.213

01-12-13 1690 1838.05 8.760 1.324 7.437 55.306

01-01-14 1843 1790.85 -2.830 1.324 -4.153 17.249

01-02-14 1799 1870.6 3.980 1.324 2.656 7.057

01-03-14 1871.9 1794.55 -4.132 1.324 -5.456 29.765

01-04-14 1805 1832.45 1.521 1.324 0.197 0.039

01-05-14 1830 1915.35 4.664 1.324 3.340 11.158

01-06-14 1930 2152.5 11.528 1.324 10.205 104.141

01-07-14 2153 2150.3 -0.125 1.324 -1.449 2.099

01-08-14 2044 2362 15.558 1.324 14.234 202.612

01-09-14 2350 2487.65 5.857 1.324 4.534 20.556

01-10-14 2480 2511.85 1.284 1.324 -0.039 0.002

01-11-14 2513 2641.85 5.127 1.324 3.804 14.469

01-12-14 2640 2591.55 -1.835 1.324 -3.159 9.978

01-01-15 2591.75 2878.3 11.056 1.324 9.733 94.725

01-02-15 2985 2865 -4.020 1.324 -5.344 28.555

01-03-15 2864 629.45 -78.022 1.324 -79.346 6295.716

01-04-15 629.35 623.3 -0.961 1.324 -2.285 5.221

01-05-15 625.8 554.45 -11.401 1.324 -12.725 161.924

01-06-15 558.9 478.2 -14.439 1.324 -15.763 248.460

01-07-15 478 529.6 10.795 1.324 9.471 89.708

01-08-15 530 515.6 -2.717 1.324 -4.041 16.326

01-09-15 515 558.05 8.359 1.324 7.036 49.501

01-10-15 560.2 538.9 -3.802 1.324 -5.126 26.273

01-11-15 541 533.4 -1.405 1.324 -2.728 7.444

49
 01-12-15 533 521.6 -2.139 1.324 -3.462 11.988

01-01-16 522.95 501.55 -4.092 1.324 -5.416 29.330

01-02-16 504 415.05 -17.649 1.324 -18.972 359.950

01-03-16 420 475.45 13.202 1.324 11.879 141.107

01-04-16 477.6 487.2 2.010 1.324 0.687 0.471

01-05-16 482.25 538.4 11.643 1.324 10.320 106.498

01-06-16 542.25 506.4 -6.611 1.324 -7.935 62.962

01-07-16 505 506.45 0.287 1.324 -1.036 1.074

1.324 10381.595

Average Returns= 1.324

Risk=√∑D2/(N-1)

=√10381.595/(55-1) = 13.865

Co-efficient of Variation= Risk/Return

=13.865/1.324

=10.47

50
 Graphical Representation of Risk and Returns of TECH Mahindra Ltd

Returns
40.000

20.000

0.000
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55
-20.000
Returns
-40.000

-60.000

-80.000

-100.000

INTERPRETATION:

The above Graph shows that the Returns of Tech Mahindra Ltd. The Tech Mahindra Ltd

has an Average Returns of 1.324, Risk is 13.865And Co-Efficient of Variation is 10.47.

The Highest Market Value is 2985 on 01-02-15 and the Lowest Market Value is 420 on

01-03-16

51
 Calculation of Risk and Returns of SBI BANK

Open Close
Month Price Price Returns Average Difference D*D

01-01-12 1625.2 2061.05 26.818 -1.099 27.917 779.383

01-02-12 2054 2243.4 9.221 -1.099 10.320 106.507

01-03-12 2232 2095 -6.138 -1.099 -5.039 25.390

01-04-12 2096.5 2137.95 1.977 -1.099 3.076 9.464

01-05-12 2146 2055.6 -4.212 -1.099 -3.113 9.693

01-06-12 2062 2159.15 4.711 -1.099 5.811 33.764

01-07-12 2165 2005.2 -7.381 -1.099 -6.282 39.462

01-08-12 2013.85 1845 -8.384 -1.099 -7.285 53.075

01-09-12 1850.5 2237.9 20.935 -1.099 22.034 485.500

01-10-12 2240 2109.6 -5.821 -1.099 -4.722 22.300

01-11-12 2110 2170.05 2.846 -1.099 3.945 15.564

01-12-12 2180 2383.75 9.346 -1.099 10.446 109.109

01-01-13 2401 2436.6 1.483 -1.099 2.582 6.666

01-02-13 2431 2085.4 -14.216 -1.099 -13.117 172.060

01-03-13 2087 2072.75 -0.683 -1.099 0.416 0.173

01-04-13 2089.9 2264.2 8.340 -1.099 9.439 89.100

01-05-13 2275 2047.7 -9.991 -1.099 -8.892 79.068

01-06-13 2054.7 1953.6 -4.920 -1.099 -3.821 14.602

01-07-13 1963.95 1709.85 -12.938 -1.099 -11.839 140.162

01-08-13 1717 1514.4 -11.800 -1.099 -10.700 114.500

01-09-13 1525 1615.25 5.918 -1.099 7.017 49.241

52
01-10-13 1624.4 1795.5 10.533 -1.099 11.632 135.311

01-11-13 1799 1821.5 1.251 -1.099 2.350 5.522

01-12-13 1826 1765.5 -3.313 -1.099 -2.214 4.902

01-01-14 1774 1525.6 -14.002 -1.099 -12.903 166.489

01-02-14 1530 1531.7 0.111 -1.099 1.210 1.465

01-03-14 1530 1918.3 25.379 -1.099 26.478 701.099

01-04-14 1932.3 2078.95 7.589 -1.099 8.689 75.492

01-05-14 2090 2541.9 21.622 -1.099 22.721 516.253

01-06-14 2547.3 2685.9 5.441 -1.099 6.540 42.775

01-07-14 2698.3 2439.75 -9.582 -1.099 -8.483 71.957

01-08-14 2415.9 2460.45 1.844 -1.099 2.943 8.663

01-09-14 2475 2442.35 -1.319 -1.099 -0.220 0.048

01-10-14 2445 2701.65 10.497 -1.099 11.596 134.470

01-11-14 2705 321.45 -88.116 -1.099 -87.017 7572.003

01-12-14 323 311.85 -3.452 -1.099 -2.353 5.536

01-01-15 312 310 -0.641 -1.099 0.458 0.210

01-02-15 309.95 301.6 -2.694 -1.099 -1.595 2.543

01-03-15 305.3 267 -12.545 -1.099 -11.446 131.007

01-04-15 266.9 270.05 1.180 -1.099 2.279 5.196

01-05-15 274 278.15 1.515 -1.099 2.614 6.832

01-06-15 279 262.8 -5.806 -1.099 -4.707 22.158

01-07-15 262 270.4 3.206 -1.099 4.305 18.536

01-08-15 270.7 247.1 -8.718 -1.099 -7.619 58.048

01-09-15 245.1 237.25 -3.203 -1.099 -2.104 4.425

01-10-15 242 237.2 -1.983 -1.099 -0.884 0.782

01-11-15 238.7 250.45 4.922 -1.099 6.022 36.261

53
 01-12-15 250.45 224.4 -10.401 -1.099 -9.302 86.529

01-01-16 225 179.95 -20.022 -1.099 -18.923 358.081

01-02-16 182 158.4 -12.967 -1.099 -11.868 140.846

01-03-16 160 194.3 21.438 -1.099 22.537 507.903

01-04-16 194 188.95 -2.603 -1.099 -1.504 2.262

01-05-16 188 204.85 8.963 -1.099 10.062 101.243

01-06-16 206 218.65 6.141 -1.099 7.240 52.417

01-07-16 220.5 229.7 4.172 -1.099 5.272 27.789

-1.099 13359.835

Average Returns= -1.099

Risk=√∑D2/(N-1)

=√13359.835/(55-1) = 15.729

Co-efficient of Variation= Risk/Return

=15.729/1.324

=11.879.

54
 Graphical Representation of Risk and Returns of SBI BANK

Returns
40.000
20.000
0.000
1 5 9 13 17 21 25 29 33 37 41 45 49 53
-20.000
Returns
-40.000
-60.000
-80.000
-100.000

INTERPRETATION:

The above Graph shows that the Returns of Sbi Bank. The Sbi Bank has an Average

Returns of (-1.099), Risk is 15.729 and Co-Efficient of Variation is 11.879. The Highest

Market Value is 2705 on 01-11-14 and the Lowest Market Value is 160 on 01-03-2016.

55
 Calculation of Risk and Returns of TATA MOTORS LTD

Open Close
Month Price Price Returns Average Difference D*D

01-01-12 88.4 117.95 33.428 2.620 30.808 949.110

01-02-12 118.1 153 29.551 2.620 26.931 725.293

01-03-12 154 157.8 2.468 2.620 -0.152 0.023

01-04-12 161 180.55 12.143 2.620 9.523 90.685

01-05-12 184 136.1 -26.033 2.620 -28.653 820.970

01-06-12 137.5 132.3 -3.782 2.620 -6.402 40.983

01-07-12 132 129.55 -1.856 2.620 -4.476 20.035

01-08-12 129.5 137.45 6.139 2.620 3.519 12.384

01-09-12 140 161.05 15.036 2.620 12.416 154.151

01-10-12 162.35 156.85 -3.388 2.620 -6.008 36.093

01-11-12 157.95 162.85 3.102 2.620 0.482 0.233

01-12-12 161.85 173.7 7.322 2.620 4.702 22.105

01-01-13 175.15 166.25 -5.081 2.620 -7.701 59.310

01-02-13 165 159.1 -3.576 2.620 -6.196 38.387

01-03-13 161.4 152.95 -5.235 2.620 -7.855 61.707

01-04-13 152.05 173.05 13.811 2.620 11.191 125.245

01-05-13 174.7 172.8 -1.088 2.620 -3.708 13.746

01-06-13 172 140.8 -18.140 2.620 -20.760 430.957

01-07-13 140 130.55 -6.750 2.620 -9.370 87.796

01-08-13 129.05 146.4 13.444 2.620 10.824 117.168

01-09-13 145 163.75 12.931 2.620 10.311 106.318

56
01-10-13 165 193.1 17.030 2.620 14.410 207.658

01-11-13 197.1 205.35 4.186 2.620 1.566 2.451

01-12-13 204 192.3 -5.735 2.620 -8.355 69.810

01-01-14 192.5 174.7 -9.247 2.620 -11.867 140.819

01-02-14 174.95 203.9 16.548 2.620 13.928 193.979

01-03-14 203.9 202.5 -0.687 2.620 -3.307 10.933

01-04-14 202.5 225.35 11.284 2.620 8.664 75.065

01-05-14 226 256.9 13.673 2.620 11.053 122.160

01-06-14 258 295.05 14.360 2.620 11.740 137.839

01-07-14 297.95 294.2 -1.259 2.620 -3.879 15.043

01-08-14 293 377.7 28.908 2.620 26.288 691.053

01-09-14 381.65 345.4 -9.498 2.620 -12.118 146.851

01-10-14 346 334.6 -3.295 2.620 -5.915 34.984

01-11-14 335 339.4 1.313 2.620 -1.307 1.707

01-12-14 344.65 335.35 -2.698 2.620 -5.318 28.285

01-01-15 335.5 363.35 8.301 2.620 5.681 32.275

01-02-15 362 373.5 3.177 2.620 0.557 0.310

01-03-15 375.5 331 -11.851 2.620 -14.471 209.405

01-04-15 332 311.3 -6.235 2.620 -8.855 78.409

01-05-15 317 301 -5.047 2.620 -7.667 58.787

01-06-15 302 261.2 -13.510 2.620 -16.130 260.174

01-07-15 263 260 -1.141 2.620 -3.761 14.142

01-08-15 261 236.8 -9.272 2.620 -11.892 141.420

01-09-15 233.4 216.7 -7.155 2.620 -9.775 95.552

01-10-15 221.9 259.75 17.057 2.620 14.437 208.435

01-11-15 263 297.35 13.061 2.620 10.441 109.012

57
 01-12-15 299 289.8 -3.077 2.620 -5.697 32.455

01-01-16 289.5 265.7 -8.221 2.620 -10.841 117.528

01-02-16 265.2 233.75 -11.859 2.620 -14.479 209.640

01-03-16 234.7 288.65 22.987 2.620 20.367 414.808

01-04-16 291 297.8 2.337 2.620 -0.283 0.080

01-05-16 299.8 311.65 3.953 2.620 1.333 1.776

01-06-16 317 291.85 -7.934 2.620 -10.554 111.381

01-07-16 293 319.95 9.198 2.620 6.578 43.270

2.620 7930.195

Average Returns= 2.620

Risk=√∑D2/(N-1)

=√7930.195/(55-1) = 12.118

Co-efficient of Variation= Risk/Return

=12.118/2.620

=4.625

58
 Graphical Representation of Risk and Returns of TATA MOTORS LTD

Returns
40.000

30.000

20.000

10.000
Returns
0.000
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55
-10.000

-20.000

-30.000

INTERPRETATION:

The above Graph shows that the Returns of Tata Motors Ltd. The Tata Motors Ltd

has an Average Returns of 2.620, Risk is 12.118 and Co-Efficient of Variation is 4.625.

The Highest Market Value is 381.65 on 01-09-14 and the Lowest Market Value is 88.4

on 01-01-12.

59
 Calculation of Risk and Returns of YES BANK

Open Close
Month Price Price Returns Average Difference D*D
01-01-12 239.6 329.95 37.709 3.447 34.261 1173.834
01-02-12 329.5 345.7 4.917 3.447 1.469 2.158
01-03-12 345 367.3 6.464 3.447 3.016 9.098
01-04-12 368.1 350.35 -4.822 3.447 -8.269 68.384
01-05-12 352 330.1 -6.222 3.447 -9.669 93.490
01-06-12 327.25 339.15 3.636 3.447 0.189 0.036
01-07-12 340.75 364.25 6.897 3.447 3.449 11.897
01-08-12 365 329.85 -9.630 3.447 -13.078 171.022
01-09-12 331 382.2 15.468 3.447 12.021 144.501
01-10-12 382 411.45 7.709 3.447 4.262 18.165
01-11-12 412.7 442.4 7.197 3.447 3.749 14.056
01-12-12 446 464.2 4.081 3.447 0.633 0.401
01-01-13 466 522.05 12.028 3.447 8.580 73.625
01-02-13 522.05 472.5 -9.491 3.447 -12.939 167.414
01-03-13 470 428.55 -8.819 3.447 -12.267 150.469
01-04-13 428.5 501.4 17.013 3.447 13.565 184.021
01-05-13 504.95 487.45 -3.466 3.447 -6.913 47.791
01-06-13 495 461 -6.869 3.447 -10.316 106.422
01-07-13 462 323.8 -29.913 3.447 -33.361 1112.945
01-08-13 330 243.25 -26.288 3.447 -29.735 884.188
01-09-13 246 287.5 16.870 3.447 13.423 180.164
01-10-13 290 368.8 27.172 3.447 23.725 562.875
01-11-13 370 368.7 -0.351 3.447 -3.799 14.431
01-12-13 372 370.1 -0.511 3.447 -3.958 15.667
01-01-14 373.7 307.95 -17.594 3.447 -21.042 442.755
01-02-14 307.7 304.75 -0.959 3.447 -4.406 19.414
01-03-14 302.6 413.5 36.649 3.447 33.202 1102.348
01-04-14 417.25 440.7 5.620 3.447 2.173 4.721
01-05-14 444 569.45 28.255 3.447 24.807 615.392
01-06-14 574 541.9 -5.592 3.447 -9.040 81.717
01-07-14 542.15 541.05 -0.203 3.447 -3.650 13.325
01-08-14 537 571.65 6.453 3.447 3.005 9.031

60
 01-09-14 573 558.5 -2.531 3.447 -5.978 35.736
01-10-14 560.5 684.15 22.061 3.447 18.613 346.453
01-11-14 685.5 710.4 3.632 3.447 0.185 0.034
01-12-14 710.4 772.85 8.791 3.447 5.343 28.552
01-01-15 772 862.5 11.723 3.447 8.275 68.482
01-02-15 862.5 862.75 0.029 3.447 -3.418 11.686
01-03-15 874 816.55 -6.573 3.447 -10.021 100.413
01-04-15 814 839.8 3.170 3.447 -0.278 0.077
01-05-15 850 882.6 3.835 3.447 0.388 0.150
01-06-15 885 843 -4.746 3.447 -8.193 67.128
01-07-15 845 828.7 -1.929 3.447 -5.376 28.906
01-08-15 829.5 689.5 -16.878 3.447 -20.325 413.108
01-09-15 678.05 729.6 7.603 3.447 4.155 17.266
01-10-15 734.8 759.1 3.307 3.447 -0.140 0.020
01-11-15 758.65 766.5 1.035 3.447 -2.413 5.821
01-12-15 765 726.15 -5.078 3.447 -8.526 72.690
01-01-16 725 746.9 3.021 3.447 -0.427 0.182
01-02-16 752 688.35 -8.464 3.447 -11.912 141.884
01-03-16 694 864.55 24.575 3.447 21.128 446.372
01-04-16 860.1 943.65 9.714 3.447 6.267 39.270
01-05-16 949 1031.95 8.741 3.447 5.293 28.020
01-06-16 1032 1106.5 7.219 3.447 3.772 14.225
01-07-16 1109.8 1153.6 3.947 3.447 0.499 0.249
3.447 9362.479

Average Returns= 3.447

Risk=√∑D2/(N-1)

=√9362.479/(55-1) = 13.167

Co-efficient of Variation= Risk/Return

=13.167/3.447

=3.819

61
 Graphical Representation of Risk and Returns of YES BANK

Returns

50.000
40.000
30.000
20.000
10.000 Returns
0.000
-10.000 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55
-20.000
-30.000
-40.000

INTERPRETATION:

The above Graph shows that the Returns of Yes Bank. The Yes Bank has an Average

Returns of 3.447, Risk is 13.167 and Co-Efficient of Variation is 3.819. The Highest

Market Value is 1109.8 on 01-07-2016 and the Lowest Market Value is 239.6 on 01-01-

12.

62
 Calculation of Risk and Returns of WIPRO

Open Close
Month Price Price Returns Average Difference D*D
01-01-12 399 413.25 3.571 0.588 2.984 8.902
01-02-12 412.55 431.75 4.654 0.588 4.066 16.534
01-03-12 425 439 3.294 0.588 2.706 7.324
01-04-12 439.9 405.1 -7.911 0.588 -8.499 72.228
01-05-12 408.5 409.55 0.257 0.588 -0.331 0.109
01-06-12 410 399.3 -2.610 0.588 -3.198 10.225
01-07-12 401.9 339.9 -15.427 0.588 -16.015 256.466
01-08-12 343.4 367.6 7.047 0.588 6.459 41.723
01-09-12 368 381.3 3.614 0.588 3.026 9.158
01-10-12 380 350.8 -7.684 0.588 -8.272 68.427
01-11-12 351 392.95 11.952 0.588 11.364 129.135
01-12-12 394 394.35 0.089 0.588 -0.499 0.249
01-01-13 397 411.2 3.577 0.588 2.989 8.934
01-02-13 410 416.5 1.585 0.588 0.998 0.995
01-03-13 415 437.15 5.337 0.588 4.750 22.558
01-04-13 438 347.9 -20.571 0.588 -21.159 447.687
01-05-13 348.25 326.55 -6.231 0.588 -6.819 46.499
01-06-13 332 349.8 5.361 0.588 4.774 22.787
01-07-13 349 437.3 25.301 0.588 24.713 610.734
01-08-13 439.7 483.9 10.052 0.588 9.464 89.576
01-09-13 484 474.05 -2.056 0.588 -2.644 6.989
01-10-13 475.7 476.95 0.263 0.588 -0.325 0.106
01-11-13 477 470.95 -1.268 0.588 -1.856 3.445
01-12-13 471 559.05 18.694 0.588 18.106 327.843
01-01-14 561.8 574.95 2.341 0.588 1.753 3.073
01-02-14 574 596.75 3.963 0.588 3.376 11.395
01-03-14 595 542.6 -8.807 0.588 -9.395 88.258
01-04-14 548 522 -4.745 0.588 -5.332 28.434
01-05-14 519.95 505 -2.875 0.588 -3.463 11.993
01-06-14 506.15 544.95 7.666 0.588 7.078 50.096
01-07-14 547 543.65 -0.612 0.588 -1.200 1.441
01-08-14 544.9 565.4 3.762 0.588 3.174 10.076
01-09-14 570 596.35 4.623 0.588 4.035 16.281

63
 01-10-14 598 563.45 -5.778 0.588 -6.365 40.519
01-11-14 566 585.5 3.445 0.588 2.857 8.165
01-12-14 588 553.8 -5.816 0.588 -6.404 41.013
01-01-15 553 606.3 9.638 0.588 9.051 81.912
01-02-15 610 659.25 8.074 0.588 7.486 56.039
01-03-15 659.7 627.8 -4.836 0.588 -5.423 29.413
01-04-15 625.35 538.55 -13.880 0.588 -14.468 209.325
01-05-15 545 561.6 3.046 0.588 2.458 6.042
01-06-15 563 544.15 -3.348 0.588 -3.936 15.492
01-07-15 546 569.15 4.240 0.588 3.652 13.338
01-08-15 570 571.45 0.254 0.588 -0.333 0.111
01-09-15 570.2 597.15 4.726 0.588 4.139 17.128
01-10-15 598 573.3 -4.130 0.588 -4.718 22.262
01-11-15 574.4 572.7 -0.296 0.588 -0.884 0.781
01-12-15 578.15 559.8 -3.174 0.588 -3.762 14.151
01-01-16 558 561.2 0.573 0.588 -0.014 0.000
01-02-16 562.05 519.9 -7.499 0.588 -8.087 65.402
01-03-16 523.25 563.35 7.664 0.588 7.076 50.067
01-04-16 565.2 553.7 -2.035 0.588 -2.623 6.878
01-05-16 557 546.2 -1.939 0.588 -2.527 6.385
01-06-16 547.4 558.35 2.000 0.588 1.413 1.995
01-07-16 565.8 538.6 -4.807 0.588 -5.395 29.108
0.588 3145.203

Average Returns= 0.588

Risk=√∑D2/(N-1)

=√3145.203/(55-1) = 58.245

Co-efficient of Variation= Risk/Return

=58.245/0.588

=99.056

64
 Graphical Representation of Risk and Returns of WIPRO

Returns
30.000

20.000

10.000

0.000 Returns
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55
-10.000

-20.000

-30.000

INTERPRETATION:

The above Graph shows that the Returns of Wipro. The Wipro has an Average Returns of

0.588, Risk is 58.245 and Co-Efficient of Variation is 99.056. The Highest Market Value

is 659.7 on 01-03-2015 and the Lowest Market Value is 332 on 01-06-13.

65
 Calculation of Risk and Returns of UNION BANK

Open Close
Month Price Price Returns Average Difference D*D
01-01-12 171.15 229.15 33.888 0.583 33.305 1109.223
01-02-12 223.55 233.2 4.317 0.583 3.733 13.938
01-03-12 234 234.85 0.363 0.583 -0.220 0.048
01-04-12 235 224.1 -4.638 0.583 -5.222 27.266
01-05-12 226.35 201.6 -10.934 0.583 -11.518 132.660
01-06-12 200.5 209 4.239 0.583 3.656 13.366
01-07-12 211.95 168.1 -20.689 0.583 -21.272 452.508
01-08-12 169 155.65 -7.899 0.583 -8.483 71.958
01-09-12 156.5 207.65 32.684 0.583 32.100 1030.430
01-10-12 209 195.45 -6.483 0.583 -7.067 49.938
01-11-12 196 242.4 23.673 0.583 23.090 533.151
01-12-12 243 274.2 12.840 0.583 12.256 150.212
01-01-13 276.4 255.1 -7.706 0.583 -8.290 68.718
01-02-13 255.5 212.15 -16.967 0.583 -17.550 308.007
01-03-13 213.75 218.05 2.012 0.583 1.428 2.040
01-04-13 218.3 244.7 12.093 0.583 11.510 132.481
01-05-13 238 219.85 -7.626 0.583 -8.209 67.395
01-06-13 222 186.25 -16.104 0.583 -16.687 278.456
01-07-13 186.05 132.95 -28.541 0.583 -29.124 848.214
01-08-13 133.4 101.65 -23.801 0.583 -24.384 594.579
01-09-13 102.8 109.8 6.809 0.583 6.226 38.762
01-10-13 110.8 123.5 11.462 0.583 10.879 118.346
01-11-13 123.5 120.25 -2.632 0.583 -3.215 10.336
01-12-13 120 130.45 8.708 0.583 8.125 66.015
01-01-14 131 108.05 -17.519 0.583 -18.102 327.700
01-02-14 108.1 103 -4.718 0.583 -5.301 28.103
01-03-14 103 137.2 33.204 0.583 32.620 1064.096
01-04-14 138 151.15 9.529 0.583 8.946 80.024
01-05-14 152.25 206.05 35.337 0.583 34.753 1207.786
01-06-14 206.9 240.6 16.288 0.583 15.705 246.636

66
 01-07-14 242.55 191.45 -21.068 0.583 -21.651 468.775
01-08-14 190 208.4 9.684 0.583 9.101 82.825
01-09-14 209.75 188.6 -10.083 0.583 -10.667 113.781
01-10-14 189.3 225.5 19.123 0.583 18.540 343.720
01-11-14 227 215.1 -5.242 0.583 -5.826 33.939
01-12-14 215.45 239.45 11.139 0.583 10.556 111.431
01-01-15 238.95 209 -12.534 0.583 -13.117 172.066
01-02-15 207 171.2 -17.295 0.583 -17.878 319.626
01-03-15 172.9 156.7 -9.370 0.583 -9.953 99.062
01-04-15 156 143.85 -7.788 0.583 -8.372 70.088
01-05-15 144.7 173.45 19.869 0.583 19.285 371.923
01-06-15 172.2 147.45 -14.373 0.583 -14.956 223.689
01-07-15 148.7 177 19.032 0.583 18.448 340.336
01-08-15 177 177.1 0.056 0.583 -0.527 0.278
01-09-15 175 175.15 0.086 0.583 -0.498 0.248
01-10-15 178 157 -11.798 0.583 -12.381 153.293
01-11-15 156.8 172.5 10.013 0.583 9.429 88.913
01-12-15 173.35 148.55 -14.306 0.583 -14.890 221.704
01-01-16 148.6 130.45 -12.214 0.583 -12.797 163.773
01-02-16 130.7 107 -18.133 0.583 -18.717 350.308
01-03-16 108.5 130.85 20.599 0.583 20.016 400.627
01-04-16 130 127.4 -2.000 0.583 -2.583 6.674
01-05-16 127 118.05 -7.047 0.583 -7.631 58.227
01-06-16 118.8 128.3 7.997 0.583 7.413 54.956
01-07-16 129 137.45 6.550 0.583 5.967 35.605
0.583 13358.259
Average Returns= 0.583

Risk=√∑D2/(N-1)

=√13358.259/(55-1) = 247.375

Co-efficient of Variation= Risk/Return

=247.375/0.583

=424.313

67
 Graphical Representation of Risk and Returns of UNION BANK

Returns
40.000

30.000

20.000

10.000

0.000 Returns
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55
-10.000

-20.000

-30.000

-40.000

INTERPRETATION:

The above Graph shows that the Returns of Union Bank. The Union Bank has an

Average Returns of 0.583, Risk is 247.375 and Co-Efficient of Variation is 424.313. The

Highest Market Value is 276.4 on 01-01-2013 and the Lowest Market Value is 102.8 on

01-09-13.

68
Calculation of Risk and Returns of India Bulls Housing Finance Ltd

Open Close
Month Price Price Returns Average Difference D*D
01-07-13 270 208.45 -22.796 3.502 -26.299 691.618
01-08-13 192.35 198.15 3.015 3.502 -0.487 0.237
01-09-13 200 182.7 -8.650 3.502 -12.152 147.679
01-10-13 182 214.5 17.857 3.502 14.355 206.061
01-11-13 215.7 223.3 3.523 3.502 0.021 0.000
01-12-13 224 238.8 6.607 3.502 3.105 9.640
01-01-14 239 206.45 -13.619 3.502 -17.122 293.149
01-02-14 207.8 191.4 -7.892 3.502 -11.395 129.835
01-03-14 191.8 236.4 23.253 3.502 19.751 390.104
01-04-14 238.8 299.15 25.272 3.502 21.770 473.927
01-05-14 301 389.7 29.468 3.502 25.966 674.239
01-06-14 385 379.85 -1.338 3.502 -4.840 23.426
01-07-14 383.5 410.15 6.949 3.502 3.447 11.881
01-08-14 401 377 -5.985 3.502 -9.487 90.010
01-09-14 381.65 402.2 5.385 3.502 1.882 3.543
01-10-14 402 418.8 4.179 3.502 0.677 0.458
01-11-14 420 449.75 7.083 3.502 3.581 12.824
01-12-14 453.5 459.05 1.224 3.502 -2.279 5.192
01-01-15 455 588.1 29.253 3.502 25.750 663.084
01-02-15 588.45 623.15 5.897 3.502 2.395 5.734
01-03-15 628.5 557.7 -11.265 3.502 -14.767 218.072
01-04-15 549 594.25 8.242 3.502 4.740 22.467
01-05-15 595 596.7 0.286 3.502 -3.217 10.347
01-06-15 594 622.4 4.781 3.502 1.279 1.635
01-07-15 621 738.65 18.945 3.502 15.443 238.484
01-08-15 767.95 750.25 -2.305 3.502 -5.807 33.723
01-09-15 722 791.75 9.661 3.502 6.158 37.925
01-10-15 795 722.45 -9.126 3.502 -12.628 159.469
01-11-15 717 687.5 -4.114 3.502 -7.617 58.014
01-12-15 690 737.45 6.877 3.502 3.374 11.387
01-01-16 731 706.3 -3.379 3.502 -6.881 47.352
01-02-16 704 575.05 -18.317 3.502 -21.819 476.073

69
 01-03-16 579.5 646.75 11.605 3.502 8.102 65.650
01-04-16 650 690.9 6.292 3.502 2.790 7.784
01-05-16 690.55 720.15 4.286 3.502 0.784 0.615
01-06-16 725 671.1 -7.434 3.502 -10.937 119.614
01-07-16 673.5 713 5.865 3.502 2.363 5.582
3.502 5346.831

Average Returns= 3.502

Risk=√∑D2/(N-1)

=√5346.831/(37-1) = 12.187

Co-efficient of Variation= Risk/Return

=12.187/3.502

=3.480

70
 Graphical Representation of Risk and Returns of India Bulls Housing Finance Ltd

Returns
40.000

30.000

20.000

10.000
Returns
0.000
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37
-10.000

-20.000

-30.000

INTERPRETATION:

The above Graph shows that the Returns of India Bulls Housing Finance Ltd. The India

Bulls Housing Finance Ltd has an Average Returns of 3.502, Risk is 12.187and Co-

Efficient of Variation is 3.480. The Highest Market Value is 795 on 01-10-2015 and the

Lowest Market Value is 182 on 01-10-13.

71
Calculation of Risk and Returns of India Bulls Real Estate Ltd

Open Close
Month Price Price Returns Average Difference D*D
01-01-12 47.2 71.05 50.530 2.203 48.326 2335.432
01-02-12 71 74.45 4.859 2.203 2.656 7.053
01-03-12 75 63.8 -14.933 2.203 -17.137 293.666
01-04-12 63.9 63.1 -1.252 2.203 -3.455 11.939
01-05-12 63 53.2 -15.556 2.203 -17.759 315.379
01-06-12 53.25 61.15 14.836 2.203 12.632 159.576
01-07-12 61.8 55.8 -9.709 2.203 -11.912 141.898
01-08-12 55.9 43.25 -22.630 2.203 -24.833 616.680
01-09-12 43.4 57.65 32.834 2.203 30.631 938.243
01-10-12 58 57.4 -1.034 2.203 -3.238 10.484
01-11-12 57.5 68.55 19.217 2.203 17.014 289.477
01-12-12 68.7 74.8 8.879 2.203 6.676 44.567
01-01-13 75.75 76.85 1.452 2.203 -0.751 0.564
01-02-13 77 59.75 -22.403 2.203 -24.606 605.453
01-03-13 60 54.65 -8.917 2.203 -11.120 123.655
01-04-13 55 74.4 35.273 2.203 33.069 1093.583
01-05-13 74 69.8 -5.676 2.203 -7.879 62.079
01-06-13 70.05 63.1 -9.921 2.203 -12.125 147.012
01-07-13 63.1 63.55 0.713 2.203 -1.490 2.221
01-08-13 64.3 56.9 -11.509 2.203 -13.712 188.016
01-09-13 56.75 54 -4.846 2.203 -7.049 49.691
01-10-13 54.65 62.75 14.822 2.203 12.618 159.220
01-11-13 62.8 69.2 10.191 2.203 7.988 63.804
01-12-13 69.55 68.85 -1.006 2.203 -3.210 10.303
01-01-14 68.4 53.8 -21.345 2.203 -23.548 554.526
01-02-14 54.25 47.35 -12.719 2.203 -14.922 222.673
01-03-14 47.1 54.55 15.817 2.203 13.614 185.343
01-04-14 54.9 62.35 13.570 2.203 11.367 129.204
01-05-14 62.9 86.15 36.963 2.203 34.760 1208.263
01-06-14 86.9 99.85 14.902 2.203 12.699 161.260

72
 01-07-14 100.5 78.6 -21.791 2.203 -23.994 575.731
01-08-14 77.55 68.9 -11.154 2.203 -13.357 178.421
01-09-14 69.45 67.55 -2.736 2.203 -4.939 24.395
01-10-14 67.7 71.1 5.022 2.203 2.819 7.946
01-11-14 71.95 81.95 13.899 2.203 11.695 136.777
01-12-14 81.45 68.85 -15.470 2.203 -17.673 312.334
01-01-15 68.7 83.5 21.543 2.203 19.340 374.020
01-02-15 83.9 80.1 -4.529 2.203 -6.733 45.327
01-03-15 80.6 65.45 -18.797 2.203 -21.000 440.995
01-04-15 65.4 59.5 -9.021 2.203 -11.225 125.995
01-05-15 60 58.55 -2.417 2.203 -4.620 21.345
01-06-15 58.6 57.15 -2.474 2.203 -4.678 21.881
01-07-15 57.1 62.95 10.245 2.203 8.042 64.671
01-08-15 62.95 61.85 -1.747 2.203 -3.951 15.609
01-09-15 60 63.8 6.333 2.203 4.130 17.057
01-10-15 64.35 62.4 -3.030 2.203 -5.234 27.391
01-11-15 62.2 63.95 2.814 2.203 0.610 0.372
01-12-15 64.1 63.9 -0.312 2.203 -2.515 6.327
01-01-16 64.1 55.35 -13.651 2.203 -15.854 251.346
01-02-16 55.5 45.65 -17.748 2.203 -19.951 398.046
01-03-16 46.3 56.1 21.166 2.203 18.963 359.594
01-04-16 56.2 67.55 20.196 2.203 17.992 323.726
01-05-16 67.5 102.1 51.259 2.203 49.056 2406.482
01-06-16 102.3 93.1 -8.993 2.203 -11.197 125.362
01-07-16 94.6 86.25 -8.827 2.203 -11.030 121.661
2.203 16514.075

Average Returns= 2.203

Risk=√∑D2/(N-1)

=√16514.075/(55-1) = 17.488

Co-efficient of Variation= Risk/Return

=17.488/2.203

73
=7.938

Graphical Representation of Risk and Returns of India Bulls Real Estate Ltd

Returns
60.000
50.000
40.000
30.000
20.000
Returns
10.000
0.000
-10.000 1 5 9 13 17 21 25 29 33 37 41 45 49 53
-20.000
-30.000

INTERPRETATION:

The above Graph shows that the Returns of India Bulls Real Estate Ltd. The India Bulls

Real Estate Ltd has an Average Returns of 2.203, Risk is 17.488and Co-Efficient of

Variation is 7.938. The Highest Market Value is 102.3 on 01-06-2016 and the Lowest

Market Value is 43.4 on 01-09-12.

74
 THE TABLE REPRESENTS THE COEFFICIENT OF VARIATION

Co-Efficient Of

S.No Company Name Risk Return Variation

1 HDFC BANK 33.229 1.936 17.164

2 SYNDICATE BANK 14.744 0.965 15.279

3 TECH MAHINDRA 13.865 1.324 10.47

4 SBI BANK 15.729 -1.099 11.879

5 TATA MOTORS 12.118 2.62 4.625

6 YES BANK 13.167 3.447 3.819

7 WIPRO 58.245 0.588 99.056

8 UNION BANK 247.375 0.583 424.313

9 INDIA BULLS HOUSING FINANCE LTD 12.187 3.502 3.48

10 INDIA BULLS REAL ESTATE LTD 17.488 2.203 7.938

75
 Co-Efficient Of Variation
450
400
350
300
250
200
150
100
50 Co-Efficient Of
0 Variation

76
CHAPTER V

 FINDINGS

 CONCLUSIONS

 SUGGESTIONS

77
FINDINGS

The present study of project work is The Study on Equity Shares of Selected Sector. The

following facts are:

 The HDFC BANK has an Average Returns of 1.936, Risk is 33.229, and Co-

Efficient of Variation is 17.164. The Highest Market Value is 1181 on 1-06-16

and the Lowest Market Value is 431.8 on 01-01-12.

 The SYNDICATE BANK has an Average Returns of 0.965, Risk is 14.744 and

Co-Efficient of Variation is 15.279. The Highest Market Value is 176.0 on 01-07-

14 and the Lowest Market Value is 51.5 on 01-03-16

 The Tech Mahindra Ltd has an Average Returns of 1.324, Risk is 13.865And Co-

Efficient of Variation is 10.47. The Highest Market Value is 2985 on 01-02-15

and the Lowest Market Value is 420 on 01-03-16

 The SBI BANK has an Average Returns of -1.099, Risk is 15.729 and Co-

Efficient of Variation is 11.879. The Highest Market Value is 2705 on 01-11-14

and the Lowest Market Value is 160 on 01-03-2016.

 The Tata Motors Ltd has an Average Returns of 2.620, Risk is 12.118 and Co-

Efficient of Variation is 4.625. The Highest Market Value is 381.65 on 01-09-14

and the Lowest Market Value is 88.4 on 01-01-12.

 The YES BANK has an Average Returns of 3.447, Risk is 13.167 and Co-

Efficient of Variation is 3.819. The Highest Market Value is 1109.8 on 01-07-

2016 and the Lowest Market Value is 239.6 on 01-01-12.

78
  The WIPRO has an Average Returns of 0.588, Risk is 58.245 and Co-Efficient of

Variation is 99.056. The Highest Market Value is 659.7 on 01-03-2015 and the

Lowest Market Value is 332 on 01-06-13.

 The UNION BANK has an Average Returns of 0.583, Risk is 247.375 and Co-

Efficient of Variation is 424.313. The Highest Market Value is 276.4 on 01-01-

2013 and the Lowest Market Value is 102.8 on 01-09-13.

 The INDIA BULLS HOUSING FINANCE LTD, has an Average Returns of

3.502, Risk is 12.187and Co-Efficient of Variation is 3.480. The Highest Market

Value is 795 on 01-10-2015 and the Lowest Market Value is 182 on 01-10-13.

 The INDIA BULLS REAL ESTATE LTD has an Average Returns of 2.203, Risk

is 17.488and Co-Efficient of Variation is 7.938. The Highest Market Value is

102.3 on 01-06-2016 and the Lowest Market Value is 43.4 on 01-09-12.

SUGGESTIONS

The various findings traced out using the data analysis of different Companies,

help the investors to invest in those companies when to invest, how much to invest and

what are the fundamentally strong companies.

 According to HDFC BANK, the monthly high is Rs. 1181and a low of Rs. 431.8

Therefore, investors can purchase the stock at or around Rs. 431.8 and can sell

before it reaches its high Rs 1181 Since after reaching the high, it again fall down.

 According to SYNDICATE BANK, the monthly high is Rs. 176.0 and a low of

Rs. 51.5 Therefore, investors can purchase the stock at or around Rs. 51.5 and can

79
 sell before it reaches its high Rs 176.0 Since after reaching the high, it again fall

down.

 According to Tech Mahindra Ltd, the monthly high is Rs. 2985 and a low of Rs.

420 Therefore, investors can purchase the stock at or around Rs. 420 and can sell

before it reaches its high Rs 2985 Since after reaching the high, it again fall down.

 According to SBI BANK, the monthly high is Rs. 2705 and a low of Rs. 160

Therefore, investors can purchase the stock at or around Rs. 160 and can sell

before it reaches its high Rs 2705 since after reaching the high, it again fall down.

 According to TATA MOTORS LTD, the monthly high is Rs. 381.65 and a low of

Rs. 88.4 Therefore, investors can purchase the stock at or around Rs. 88.4 and can

sell before it reaches its high Rs 381.65 Since after reaching the high, it again fall

down.

 According to YES BANK, the monthly high is Rs. 1109.8 and a low of Rs. 239.6

Therefore, investors can purchase the stock at or around Rs. 239.6 and can sell

before it reaches its high Rs 1109.8 Since after reaching the high, it again fall

down.

 According to WIPRO, the monthly high is Rs. 659.7 and a low of Rs332

Therefore, investors can purchase the stock at or around Rs. 332 and can sell

before it reaches its high Rs 659.7 Since after reaching the high, it again fall

down.

80
 According to UNION BANK, the monthly high is Rs. 276.4 and a low of Rs102.8

Therefore, investors can purchase the stock at or around Rs. 102.8 and can sell

before it reaches its high Rs 276.4 Since after reaching the high, it again fall

down.

 According to INDIA BULLS HOUSING FINANCE LTD, the monthly high is

Rs. 795 and a low of Rs 182 Therefore, investors can purchase the stock at or

around Rs. 182 and can sell before it reaches its high Rs 795 Since after reaching

the high, it again fall down.

 According to INDIA BULLS REAL ESTATE LTD, the monthly high is Rs.

102.3 and a low of Rs 43.4 Therefore, investors can purchase the stock at or

around Rs. 43.4 and can sell before it reaches its high Rs 102.3 Since after

reaching the high, it again fall down.

CONCLUSION

This project emphasizes on the market fluctuations relations to the prices of

Companies though it is difficult to observe a pattern for the price movements but

efforts have been taken using fundamental analysis and technical analysis. Using

fundamental analysis, it is observed the financial position and performance of the

firms are in correlation with present market prices. According to technical

analysis, the historical data taken is used to observe the trends followed by the

companies. However, we cannot say that any one method is sufficient to analysis

81
and interpret the fluctuations but they help the investor to define the trends to

some extent. Based on the above analysis investor has to invest the companies

like Hdfc Bank, Syndicate Bank, Tech Mahindra, Sbi Bank, Tata Motors, Yes

Bank, Wipro, Union Bank, India Bulls Housing Finance Ltd, India Bulls Real

Estate Ltd.

82
 CHAPTER VI

BIBLIOGRAPHY

83
BIBILIOGRAPHY

TEXT BOOKS REFERRED

 Benet, James A.et.al (Author) have conducted a study on "can money flow predict

is defined as the difference between up stick and down stick dollar trading

volume.

 Micko Tanaka Yamawaki et. Al., (Author) 7 have conducted a study on the

Adaptive use of Technical Indicators for predicting the Intra-Day price

movements.

 The study analysis the ability of daily technical indicators to predict future

changes in the "standard and poor's 500 index" by Daigle Robert T.et.Al.,(Author)

 Best Practices for Equity Research Analysts: Essentials for Buy-Side and Sell-

Side Analysts 1st Edition by James J. Valentine (Author)

News papers

 Economic times

 Business Line

WEBSITES:

 http://www.google.com

 http://www.nse_india.com

 http://www.bseindia.com

 http://www.googlescholar.com

 http://www.indiabulls.com
84