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8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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A STUDY
ON
“SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS”
With reference to
Kotak Mahindra Bank
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CONTENTS
Topic Page no.
1. Introduction........................................................................................................................................5
1.a O!ecti"e#....................................................................................................................................$
1. %ata Co&&ection Method#...........................................................................................................1'
1.c Ti(e Period................................................................................................................................1'
). *iterature +e"ie,............................................................................................................................1'
-out Beta %efinition/ Theor0.....................................................................................................11
. Co(pan0 Profi&e..............................................................................................................................15
.a Introduction to Moti&a& O#,a& Co(pan0...................................................................................12
. Introduction to 3%4C Bank......................................................................................................1
.c Introduction to ICICI Bank.......................................................................................................)'
.d Introduction to IN6 78S8- Bank............................................................................................))
.e Introduction to NSE...................................................................................................................)9
9. %ata -na&0#i#...................................................................................................................................9
Ta&e# and chart# ,ith Interpretation...............................................................................................9
5. Conc&u#ion : Sugge#tion................................................................................................................;;
2. *i(itation#.......................................................................................................................................;
;. Methodo&og0....................................................................................................................................;$
. Bi&iograph0....................................................................................................................................'
)
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1. Introducton
Introducton to !"n#n$ %&ctor
The +e#er"e Bank of India <+BI= i# India># centra& ank. Though the anking indu#tr0 i#
current&0 do(inated 0 pu&ic #ector ank#/ nu(erou# pri"ate and foreign ank# e?i#t. India>#
go"ern(ent@o,ned ank# do(inate the (arket. Their perfor(ance ha# een (i?ed/ ,ith a fe, eing
con#i#tent&0 profita&e. Se"era& pu&ic #ector ank# are eing re#tructured/ and in #o(e the
go"ern(ent either a&read0 ha# or ,i&& reduce it# o,ner#hip.
Pr'"t& "nd (or&$n !"n#%
The +BI ha# granted operating appro"a& to a fe, pri"ate&0 o,ned do(e#tic ank#A of the#e (an0
co((enced anking u#ine##. 4oreign ank# operate (ore than 15' ranche# in India. The entr0 of
foreign ank# i# a#ed on reciprocit0/ econo(ic and po&itica& i&atera& re&ation#. -n inter@
depart(enta& co((ittee appro"e# app&ication# for entr0 and e?pan#ion.
C")t"* "d&+u"c, nor-
4oreign ank# ,ere reuired to achie"e an percent capita& adeuac0 nor( 0 March 1$$/ ,hi&e
Indian ank# ,ith o"er#ea# ranche# had unti& March 1$$5 to (eet that target. -&& other ank# had to
do #o 0 March 1$$2. The anking #ector i# to e u#ed a# a (ode& for opening up of India>#
in#urance #ector to pri"ate do(e#tic and foreign participant#/ ,hi&e keeping the nationa& in#urance
co(panie# in operation.
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B"n#n$
India ha# an e?ten#i"e anking net,ork/ in oth uran and rura& area#. -&& &arge Indian ank# are
nationa&ied/ and a&& Indian financia& in#titution# are in the pu&ic #ector.
RBI !"n#n$
The +e#er"e Bank of India i# the centra& anking in#titution. It i# the #o&e authorit0 for i##uing ank
note# and the #uper"i#or0 od0 for anking operation# in India . It #uper"i#e# and ad(ini#ter#
e?change contro& and anking regu&ation#/ and ad(ini#ter# the go"ern(ent># (onetar0 po&ic0. It i#
a&#o re#pon#i&e for granting &icen#e# for ne, ank ranche#. )5 foreign ank# operate in India ,ith
fu&& anking &icen#e#. Se"era& &icen#e# for pri"ate ank# ha"e een appro"ed. %e#pite fair&0 road
anking co"erage nation,ide/ the financia& #0#te( re(ain# inacce##i&e to the poore#t peop&e in
India.
Ind"n !"n#n$ %,%t&-
The anking #0#te( ha# three tier#. The#e are the #chedu&ed co((ercia& ank#A the regiona& rura&
ank# ,hich operate in rura& area# not co"ered 0 the #chedu&ed ank#A and the cooperati"e and
#pecia& purpo#e rura& ank#.
Sc&du*&d "nd non %c&du*&d !"n#%
There are appro?i(ate&0 ' #chedu&ed co((ercia& ank#/ Indian and foreignA a&(o#t )'' regiona&
rura& ank#A (ore than 5' centra& cooperati"e ank#/ )' &and de"e&op(ent ank#A and a nu(er of
pri(ar0 agricu&tura& credit #ocietie#. In ter(# of u#ine##/ the pu&ic #ector ank#/ na(e&0 the State
Bank of India and the nationa&ied ank#/ do(inate the anking #ector.
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India ha# an e?ten#i"e anking net,ork/ in oth uran and rura& area#. -&& &arge Indian ank# are
nationa&ied/ and a&& Indian financia& in#titution# are in the pu&ic #ector.
The +e#er"e Bank of India i# the centra& anking in#titution. It i# the #o&e authorit0 for i##uing ank
note# and the #uper"i#or0 od0 for anking operation# in India . It #uper"i#e# and ad(ini#ter#
e?change contro& and anking regu&ation#/ and ad(ini#ter# the go"ern(ent># (onetar0 po&ic0. It i#
a&#o re#pon#i&e for granting &icen#e# for ne, ank ranche#. )5 foreign ank# operate in India ,ith
fu&& anking &icen#e#. Se"era& &icen#e# for pri"ate ank# ha"e een appro"ed. %e#pite fair&0 road
anking co"erage nation,ide/ the financia& #0#te( re(ain# inacce##i&e to the poore#t peop&e in
India.
The anking #0#te( ha# three tier#. The#e are the #chedu&ed co((ercia& ank#A the regiona& rura&
ank# ,hich operate in rura& area# not co"ered 0 the #chedu&ed ank#A and the cooperati"e and
#pecia& purpo#e rura& ank#.
There are appro?i(ate&0 ' #chedu&ed co((ercia& ank#/ Indian and foreignA a&(o#t )'' regiona&
rura& ank#A (ore than 5' centra& cooperati"e ank#/ )' &and de"e&op(ent ank#A and a nu(er of
pri(ar0 agricu&tura& credit #ocietie#. In ter(# of u#ine##/ the pu&ic #ector ank#/ na(e&0 the State
Bank of India and the nationa&ied ank#/ do(inate the anking #ector.
Loc"* (n"ncn$
-&& #ource# of &oca& financing are a"ai&a&e to foreign@participation co(panie# incorporated in India/
regard&e## of the e?tent of foreign participation. Dnder foreign e?change regu&ation#/ foreigner# and
non@re#ident#/ inc&uding foreign co(panie#/ reuire the per(i##ion of the +e#er"e Bank of India to
orro, fro( a per#on or co(pan0 re#ident in India.
R&$u*"ton% on For&$n B"n#%
4oreign ank# in India are #u!ect to the #a(e regu&ation# a# #chedu&ed ank#. The0 are per(itted to
accept depo#it# and pro"ide credit in accordance ,ith the anking &a,# and +BI regu&ation#.
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Current&0 aout )5 foreign ank# are &icen#ed to operate in India. 4oreign ank ranche# in India
finance trade through their g&oa& net,ork#.
RBI r&%trcton%
The +e#er"e Bank of India &a0# do,n re#triction# on ank &ending and other acti"itie# ,ith &arge
co(panie#. The#e re#triction#/ popu&ar&0 kno,n a# con#ortiu( guide&ine# #ee( to ha"e out&i"ed
their u#efu&ne##/ ecau#e the0 hinder the a"ai&ai&it0 of credit to the non@food #ector and at the #a(e
ti(e do not fo#ter co(petition et,een ank#.
Ind"n '%. For&$n !"n#%
Mo#t Indian ank# are ,e&& ehind foreign ank# in the area# of cu#to(er fund# tran#fer and c&earing
#0#te(#. The0 are huge&0 o"er@#taffed and are un&ike&0 to e a&e to co(pete ,ith the ne, pri"ate
ank# that are no, entering the (arket. Whi&e the#e ne, ank# and foreign ank# #ti&& face
re#triction# in their acti"itie#/ the0 are ,e&&@capita&ied/ u#e (odern euip(ent and attract high@
ca&ier e(p&o0ee#.
Go'&rn-&nt "nd RBI r&$u*"ton%
-&& co((ercia& ank# face #tiff re#triction# on the u#e of oth their a##et# and &iai&itie#. 4ort0
percent of &oan# (u#t e directed to priorit0 #ector# and the high &iuidit0 ratio and ca#h re#er"e
reuire(ent# #e"ere&0 &i(it the a"ai&ai&it0 of depo#it# for &ending. The +BI reuire# that do(e#tic
Indian ank# (ake 9' percent of their &oan# at conce##iona& rate# to priorit0 #ector#> #e&ected 0 the
go"ern(ent. The#e #ector# con#i#t &arge&0 of agricu&ture/ e?porter#/ and #(a&& u#ine##e#. Since Fu&0
1$$/ foreign ank# ha"e een reuired to (ake ) percent of their &oan# to the#e priorit0 #ector.
Within the target of ) percent/ t,o #u@target# for &oan# to the #(a&& #ca&e #ector <(ini(u( of 1'
percent= and e?port# <(ini(u( of 1) percent= ha"e een fi?ed.
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4oreign ank#/ ho,e"er/ are not reuired to open ranche# in rura& area#/ or to (ake &oan# to the
agricu&tura& #ector. Co((ercia& ank# &ent do&# i&&ion in the Indian financia& 0ear <I48/ -pri&@
March= 1$$;G$/ up #harp&0 fro( do&# 9.9 i&&ion in the pre"iou# 0ear.
Gr&, (utur&
one (ore rea#on eing the opacit0 of the The +e#er"e Bank of India. Thi# doe# not (ean a foreca#t
of doo( for the Indian anking #ector the kind that ha# ,a#hed out #outh Ea#t -#ia. -nd a&#o not
ecau#e Indian ank# are hea&th0. We #ti&& ha"e no c&ue aout the rea& non@perfor(ing a##et# of
financia& in#titution# and ank#. Man0 ank# are no, &i#ted. That put# additiona& re#pon#ii&it0 of
#haring infor(ation. It i# no, c&ear that it ,a# the financia& #ector that cau#ed the #en#ationa&
(e&tdo,n of #o(e -#ian nation#. India i# not Thai&and/ Indone#ia and Korea. Borro,ed in"e#t(ent
in propert0 in India i# &o, and propert0 price# ha"e a&read0 fa&&en/ &etting out #tea( gent&0. Our
(icro@(e&tdo,n ha# a&read0 een happening.
Conc*u%on
Sti&&/ there are #e"era& other ,orrie# aout the anking #ector/ (ain&0 confu#ion o"er o,ner#hip and
contro&. So(eti(e #oon India ,i&& e forced to app&0 the nor(# of de"e&oped countrie# and (an0
ank# <inc&uding #o(e of the igge#t= ,i&& #ho, "er0 poor return ratio# and doen# of ank# ,i&& e
ankrupt. When that happen# the t,o popu&ar rea#on# to defend ad ank# ,i&& di#appear. The#e areH
one/ to #a"e face in the re(ote hope of tho#e fortune# ,i&& re"i"e> and t,o/ #o(e ank# are too ig to
e a&&o,ed to fai&/ fearing #ocia& uphea"a&.
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1. " O!/&ct'&%
To (ea#ure the co(parati"e eta ana&0#i# of #e&ected Indian ank#.
To e"a&uate the corre&ation et,een Nift0 return# and ICICI ank return#.
To e"a&uate the corre&ation et,een Nift0 return# and 3%4C return#.
To e"a&uate the corre&ation et,een Nift0 and IN6 70#0a ank return#.
1.! D"t" Co**&cton M&tod%
4or the purpo#e of the #tud0 ,a# co&&ected through #econdar0 #ource of data co&&ection (ethod.
Ma!or #ource of data are pu&i#hed #tock price# of 3%4C/ IN6 70#0a/ ICICI Bank -N% NI4T8.
1.c T-& P&rodH
I co&&ected dai&0 price# of 3%4C/ ICICI/ IN6 78S8- B-NKS and NI4T8 for the period of
OCT@)''2 to SEP@)'19.
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0. Lt&r"tur& R&'&
A!out B&t" 2 D&(nton3 T&or,
D&(nton% o( BETA
1. - uantitati"e (ea#ure of the "o&ati&it0 of a gi"en #tock/ (utua& fund/ or portfo&io/ re&ati"e to the
o"era&& (arket/ u#ua&&0 the S:P 5''. Specifica&&0/ the perfor(ance the #tock/ fund or portfo&io ha#
e?perienced in the &a#t 5 0ear# a# the S:P (o"ed 1J up or do,n. - eta ao"e 1 i# (ore "o&ati&e
than the o"era&& (arket/ ,hi&e a eta e&o, 1 i# &e## "o&ati&e.
). - (ea#ure of #ecuritie# or portfo&io># "o&ati&it0/ or #0#te(atic ri#k/ in co(pari#on to the (arket a#
a ,ho&e. -&#o kno,n a# Beta coefficient.
Note#H
Beta i# ca&cu&ated u#ing regre##ion ana&0#i#/ and 0ou can think of eta a# the tendenc0 of a #ecurit0>#
return# to re#pond to #,ing# in the (arket. - eta of 1 indicate# that the #ecurit0># price ,i&& (o"e
,ith the (arket. - eta &e## than 1 (ean# the #ecurit0 ,i&& e &e## "o&ati&e than the (arket. - eta
greater than 1 indicate# that the #ecurit0># price ,i&& e (ore "o&ati&e than the (arket. 4or e?a(p&e/ if
a #tock># eta i# 1.) it># theoretica&&0 )'J (ore "o&ati&e than the (arket.
Man0 uti&itie# #tock# ha"e a eta of &e## than 1. Con"er#e&0 (o#t high@tech N-S%-@a#ed #tock#
ha"e a eta greater than 1/ offering the po##ii&it0 of a higher rate of return ut a&#o po#ing (ore ri#k.
BETA
Beta de#crie# the re&ation#hip et,een the #tock# return and the (arket inde? return#. Thi# can e
po#iti"e and negati"e. It i# the percentage change in the price of the #tock regre##ed <or re&ated= to
the percentage change in the (arket inde?. If eta i# 1/ a one percentage change in (arket inde? ,i&&
&ead to one percentage change in price of the #tock. If eta i# '/ #tock price i# unre&ated to the (arket
$
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inde? and if the (arket goe# up 0 a L1J/ the #tock price ,i&& fa&& 0 1J eta (ea#ure# the
#0#te(atic (arket re&ated ri#k/ ,hich cannot e e&i(inated 0 di"er#ification. If the portfo&io i#
efficient/ eta (ea#ure# the #0#te(atic ri#k effecti"e&0. On the other hand a&pha and ep#i&on (ea#ure#
the un#0#te(atic ri#k/ ,hich can e reduced 0 efficient di"er#ification. More detai&# of eta are
di#cu##ed e&#e ,here in the ook.
Beta (ea#ure# no di"er#ifia&e ri#k. Beta #ho, ho, the price of a #ecurit0 re#pond# to (arket force#.
In effect/ of (ore re#pon#i"e the price of a #ecurit0 i# to change# in the (arket/ the higher ,i&& e it#
eta. Beta i# ca&cu&ated 0 re&ating the return# on a #ecurit0 ,ith the return# for the (arket. Market
return# i# (ea#ured 0 the a"erage# return# of a &arge #a(p&e of #tock#/ #uch a# the S:P 5'' #tock
inde?. The eta for the o"era&& (arket i# eua& to 1.'' and other eta# are "ie,ed in re&ation to thi#
"a&ue.
Beta# can e po#iti"e or negati"e. 3o,e"er/ near&0 a&& eta# are po#iti"e and (o#t eta# &ie
#o(e,here et,een '.9 and 1.$. *i#ted in Ta&e @ are the eta# for #o(e #tock#/ a# reported 0
"a&ue &ine in &ate 1$$
Beta Coefficient on Se&ected Stock#
Co(pan0 Beta
-"on product# 1.9
Bau#ch : *o( 1.)5
Benguer Corp/ '.1)
B&ack : %ecker 1.25
Ca&ifornia Water '.5
Ca(pe&& Soap 1
Chr0#&er Corp. 1.)5
C&u Med 1.'5
Coca@Co&a 1.15
Co(pa@Co(puter 1.95
%e&ta -ir *ine# 1.15
%i#ne0 1.)5
1'
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6ood0ear Tire 1.'5
3ec&a Mining '.5
Idaho Po,er '.2
IBM '.$5
Ke&&ogg 1.1
*auinta Inn# '.
Matte& 1.95
Mc%ona&d># '.2
Merri&& *0nch 1.;5
Ne,(ont Mining '.5
Pe#pi Co. 1.15
Peid(ont Natura& 6a# '.2
uaker State Corp. '.$
+eeok/ Int&G 1.2
S(ucker/ F.M. '.$
Te?aco '.2
Toot#ie +o&& '.
To0# >+> D# 1.95
Wend0># Int&. 1.1
Man0 &arge rokerage fir(# <#uch a# Merri&& *0nch= a# ,e&& a# #u#cription #er"ice# <#uch a# "a&ue
&ine= pu&i#h eta# for a &arge nu(er of #tock#.
In"e#tor# ,i&& find eta he&pfu& in a##e##ing #0#te(atic ri#k and under#tanding the i(pact of (arket
(o"e(ent can ha"e on the return e?pected fro( a #hare turn o"er the ne?t 0ear/ a #tock ha"ing a eta of 1.' ,ou&d e e?pected to pro"ide a 1' percent to e?perience# an increa#e in return# of
appro?i(ate&0 1 percent <1.'1'J= o"er the #a(e period. Thi# particu&ar #tock i# (uch (ore
"o&ati&e than the (arket a# a ,ho&e.
%ecrea#e# in (arket return are tran#&ated into decrea#e #ecurit0 return# and thi# ,here the ri#k &ie#.
In the preceding e?a(p&e/ if the (arket i# e?pected to e?perience# a negati"e return 1' percent/ then
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the #tock ,ith a eta of 1. #hou&d e?perience a 1 percent decrea#e 1. ti(e# 1'. Stock# ha"ing
eta# of &e## than 1 ,i&&/ of cour#e e &e## re#pon#i"e to changing return# in the (arket/ and therefore
are con#idered &e## ri#k0.
- uantitati"e (ea#ure of the "o&ati&it0 of a gi"en #tock/ (utua& fund/ or portfo&io/ re&ati"e to the
o"era&& (arket/ u#ua&&0 the S:P 5''. Specifica&&0/ the perfor(ance the #tock/ fund or portfo&io ha#
e?perienced in the &a#t 5 0ear# a# the S:P (o"ed 1J up or do,n. - eta ao"e 1 i# (ore "o&ati&e
than the o"era&& (arket/ ,hi&e a eta e&o, 1 i# &e## "o&ati&e.
- (ea#ure of a #ecurit0># or portfo&io># "o&ati&it0/ or #0#te(atic ri#k/ in co(pari#on to the (arket a# a
,ho&e. -&#o kno,n a# eta coefficient.
1)
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T& Kot"# M"ndr" Grou)
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CREATING BANKING 4ISTORY
E#ta&i#hed in 1$5/ The Kotak Mahindra group ha# &ong een one of India># (o#t reputedfinancia& organiation#. In 4eruar0 )'1'/ Kotak Mahindra 4inance *td/ the group># f&ag#hipco(pan0 ,a# gi"en the &icen#e to carr0 on anking u#ine## 0 the +e#er"e Bank of India <+BI=.Thi# appro"a& create# anking hi#tor0 #ince Kotak Mahindra 4inance *td. i# the fir#t co(pan0 in
India to con"ert to a ank. Kotak Mahindra i# one of India># &eading financia& in#titution#/ offeringco(p&ete financia& #o&ution# that enco(pa## e"er0 #phere of &ife. 4ro( co((ercia& anking/ to #tock
roking/ to (utua& fund#/ to &ife in#urance/ to in"e#t(ent anking/ the group cater# to the financia& need#of indi"idua&# and corporate.
The group ha# a net ,orth of around +#. /19' crore/ e(p&o0# around $/2'' peop&e in it# "ariou# u#ine##e# and ha# a di#triution net,ork of ranche#/ franchi#ee#/ repre#entati"e office# and #ate&&iteoffice# acro## '' citie# and to,n# in India and office# in Ne, 8ork/ *ondon/ %uai and Mauritiu#. The6roup #er"ice# around ).) (i&&ion cu#to(er account#.
T& Co-)*&t& B"n#
-t Kotak Mahindra Bank/ ,e addre## the entire #pectru( of financia& need# for indi"idua&# and
corporate#. We ha"e the product#/ the e?perience/ the infra#tructure and (o#t i(portant&0 theco((it(ent to de&i"er prag(atic/ end@to@end #o&ution# that rea&&0 ,ork. - &icen#e authoriing the ank to carr0 on anking u#ine## ha# een otained fro( the +e#er"eBank of India in ter(# of Section )) if the Banking +egu&ation -ct/ 1$9$. It (u#t e di#tinct&0under#tood/ ho,e"er/ that in i##uing the &icen#e/ the +e#er"e Bank of India doe# not undertakean0 re#pon#ii&it0 for the financia& #oundne## of the ank or the correctne## of an0 of the#tate(ent# (ade or opinion e?pre##ed in thi# connection.
T& Kot"# M"ndr" Grou)
Kotak Mahindra i# one of India># &eading financia& cong&o(erate#/ offering co(p&ete financia&#o&ution# that enco(pa## e"er0 #phere of &ife. 4ro( co((ercia& anking/ to #tock roking/ to(utua& fund#/ to &ife in#urance/ to in"e#t(ent anking/ the group cater# to the financia& need# ofindi"idua&# and corporate#.The group ha# a net ,orth of o"er +#. /)'' crore/ e(p&o0# around 19/'' peop&e in it# "ariou#
u#ine##e# and ha# a di#triution net,ork of ranche#/ franchi#ee#/ repre#entati"e office# and#ate&&ite office# acro## '' citie# and to,n# in India and office# in Ne, 8ork/ *ondon/ %uai/Mauritiu# and Singapore. The 6roup #er"ice# around ).2 (i&&ion cu#to(er account#.
Our Stor,The Kotak Mahindra 6roup ,a# orn in 1$5 a# Kotak Capita& Manage(ent 4inance *i(ited.Thi# co(pan0 ,a# pro(oted 0 Dda0 Kotak/ Sidne0 -. -. Pinto and Kotak : Co(pan0.Indu#tria&i#t# 3ari#h Mahindra and -nand Mahindra took a #take in 1$2/ and that># ,hen theco(pan0 changed it# na(e to Kotak Mahindra 4inance *i(ited.Since then it
Group Management Mr. Ud", Kot"# E?ecuti"e 7ice Chair(an : Managing %irector
Mr. S'"/ D"-Mr. C. 5","r"-
Mr. D)"# Gu)t"
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The Kotak Mahindra 6roup ,a# orn in 1$5 a# Kotak Capita& Manage(ent 4inance *i(ited. Thi#co(pan0 ,a# pro(oted 0 Dda0 Kotak/ Sidne0 -. -. Pinto and Kotak : Co(pan0. Indu#tria&i#t# 3ari#hMahindra and -nand Mahindra took a #take in 1$2/ and that># ,hen the co(pan0 changed it# na(e toKotak Mahindra 4inance *i(ited.
Since then it># een a #tead0 and confident !ourne0 to gro,th and #ucce##.
1$2 Kotak Mahindra 4inance *i(ited #tart# the acti"it0 of Bi&& %i#counting1$; Kotak Mahindra 4inance *i(ited enter# the *ea#e and 3ire Purcha#e (arket1$$' The -uto 4inance di"i#ion i# #tarted
1$$1The In"e#t(ent Banking %i"i#ion i# #tarted. Take# o"er 4ICOM/ one of India># &arge#tfinancia& retai& (arketing net,ork#
1$$) Enter# the 4und# S0ndication #ector
1$$5Brokerage and %i#triution u#ine##e# incorporated into a #eparate co(pan0 @ KotakSecuritie#. In"e#t(ent Banking di"i#ion incorporated into a #eparate co(pan0 @ KotakMahindra Capita& Co(pan0
1$$2
The -uto 4inance Bu#ine## i# hi"ed off into a #eparate co(pan0 @ Kotak MahindraPri(e *i(ited <for(er&0 kno,n a# Kotak Mahindra Pri(u# *i(ited=. Kotak Mahindratake# a #ignificant #take in 4ord Credit Kotak Mahindra *i(ited/ for financing 4ord"ehic&e#. The &aunch of Matri? Infor(ation Ser"ice# *i(ited (ark# the 6roup># entr0into infor(ation di#triution.
1$$Enter# the (utua& fund (arket ,ith the &aunch of Kotak Mahindra -##et Manage(entCo(pan0.
)'''
Kotak Mahindra tie# up ,ith O&d Mutua& p&c. for the *ife In#urance u#ine##.Kotak Securitie# &aunche# it# on@&ine roking #ite <no, ,,,.kotak#ecuritie#.co(=.Co((ence(ent of pri"ate euit0 acti"it0 through #etting up of Kotak Mahindra7enture Capita& 4und.
)''1Matri? #o&d to 4rida0 Corporation*aunche# In#urance Ser"ice#
)'1'Kotak Mahindra 4inance *td. con"ert# to a co((ercia& ank @ the fir#t Indian co(pan0
to do #o.)'11 *aunche# India 6ro,th 4und/ a pri"ate euit0 fund.
)'1)
Kotak 6roup rea&ign# !oint "enture in 4ord CreditA Bu0# Kotak Mahindra Pri(e<for(er&0 kno,n a# Kotak Mahindra Pri(u# *i(ited= and #e&&# 4ord credit KotakMahindra.*aunche# a rea& e#tate fund
)'1'Bought the )5J #take he&d 0 6o&d(an Sach# in Kotak Mahindra Capita& Co(pan0and Kotak Securitie#
)'19 Bought the 5J#take of #hare# in Kotak Mahindra Capita& Co(pan0and Kotak Securitie#
COMPANY PRODUCTS
Kot"# M"ndr" B"n# -t Kotak Mahindra Bank/ ,e addre## the entire #pectru( of financia& need# for indi"idua&# andcorporate#. ,e ha"e the product#/ the e?perience/ the infra#tructure and (o#t i(portant&0 the co((it(ent
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to de&i"er prag(atic/ end@to@end #o&ution# that rea&&0 ,ork.
Kotak Mahindra O&d Mutua& *ife In#urance i# a ;2H)9 !oint "enture et,een Kotak Mahindra Bank *td.and O&d Mutua& p&c. Kotak Mahindra O&d Mutua& *ife In#urance i# one of the fa#te#t gro,ing in#uranceco(panie# in India and ha# #ho,n re(arka&e gro,th #ince it# inception in )''1.
O&d Mutua&/ a co(pan0 ,ith 12' 0ear# e?perience in &ife in#urance/ i# an internationa& financia& #er"ice#group &i#ted on the *ondon Stock E?change and inc&uded in the 4TSE 19' &i#t of co(panie#/ ,ith a##et#under (anage(ent ,orth 5'' Bi&&ion a# on 1#t %ece(er/ )'19. 4or cu#to(er#/ thi# !oint "enturetran#&ate# into a co(pan0 that co(ine# internationa& e?perti#e ,ith the under#tanding of the &oca& (arket
C"r Fn"nc&
Kotak Mahindra Pri(e *i(ited <KMP*= i# a #u#idiar0 of Kotak Mahindra Bank *i(ited for(ed tofinance a&& pa##enger "ehic&e#. The co(pan0 i# dedicated to financing and #upporting auto(oti"e andauto(oti"e re&ated (anufacturer#/ dea&er# and retai& cu#to(er#.The Co(pan0 offer# car financing in thefor( of &oan# for the entire range of pa##enger car# and (u&ti uti&it0 "ehic&e#. The Co(pan0 a&#o offer#In"entor0 funding to car dea&er# and ha# entered into #trategic arrange(ent ,ith "ariou# car (anufacturer#
in India for eing their preferred financier
Kot"# S&curt&% Ltd.
Kotak Securitie# *td. i# India># &eading #tock roking hou#e ,ith a (arket #hare of around .5 J a# on1#t %ece(er. Kotak Securitie# *td. ha# een the &arge#t in IPO di#triution.
The acco&ade# that Kotak Securitie# ha# een graced ,ith inc&udeH
• Pri(e +anking -,ard<)'1'@11=@ *arge#t %i#triutor of IPO>#
• 4inance -#ia -,ard <)'11=@ India># e#t Euit0 3ou#e
• 4inance -#ia -,ard <)'1)=@Be#t Broker In India
• Euro(one0 -,ard <)'1)=@Be#t Euitie# 3ou#e In India
• 4inance -#ia -,ard <)'1'=@ Be#t Broker In India
• Euro(one0 -,ard <)'1'= @ Be#t Pro"ider of Portfo&io Manage(ent H Euitie#
Be#t Broker in India 0 4inance-#ia for )'1 : )'19
Kot"# S&curt&% Ltd 6 In%ttuton"* E+ut&%
Kotak Securitie#/ a #u#idiar0 of Kotak Mahindra Bank/ i# the #tock@roking and di#triution ar( of theKotak Mahindra 6roup. The in#titutiona& u#ine## di"i#ion pri(ari&0 co"er# #econdar0 (arket roking. Itcater# to the need# of foreign and Indian in#titutiona& in"e#tor# in Indian euitie# <oth &oca& #hare# and
6%+#=. The di"i#ion a&#o ha# a co(prehen#i"e re#earch ce&& ,ith #ectora& ana&0#t# co"ering a&& the (a!or area# of the Indian econo(0.
Kot"# M"ndr" C")t"* Co-)"n, 7KMCC8
Kotak Mahindra Capita& Co(pan0 <KMCC= he&p# &eading Indian corporation#/ ank#/ financia&in#titution# and go"ern(ent co(panie# acce## do(e#tic and internationa& capita& (arket#.
It ha# een a &eader in the capita& (arket#/ ha"ing con#i#tent&0 &ed the &eague ta&e# for &ead (anage(entin the pa#t #i? 0ear#/ &eading 12 of the )' &arge#t Indian offering# et,een fi#ca& )''' and )'19.
KMCC ha# the (o#t current under#tanding of in"e#tor appetite/ ha"ing een the &eading ook runnerG&ead(anager in pu&ic euit0 offering# in the period 48 )'')@11
Kot"# M"ndr" Int&rn"ton"*
Kotak ha# ,ho&&0@o,ned #u#idiarie# ,ith office# in Mauritiu#/ *ondon/ %uai and Ne, 8ork. The#e
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#u#idiarie# #pecia&ie in pro"iding #er"ice# to o"er#ea# in"e#tor# #eeking to in"e#t into India. In"e#tor#can acce## the a##et (anage(ent capai&it0 of the internationa& #u#idiarie# through fund# do(ici&ed inMauritiu#.
The internationa& #u#idiarie# offer rokerage and a##et (anage(ent #er"ice# to in#titution# and high net,orth indi"idua&# a#ed out#ide India through their range of off#hore India fund#/ a# ,e&& a# through#pecific ad"i#or0 and di#cretionar0 in"e#t(ent (anage(ent (andate# fro( in#titutiona& in"e#tor#. TheInternationa& #u#idiarie# a&#o pro"ide &ead (anage(ent and under,riting #er"ice# in con!uction ,ith
Kotak Mahindra Capita& Co(pan0 ,ith re#pect to the i##uance# of do(e#tic Indian #ecuritie# in theinternationa& (arketp&ace.
Offering# fro( the Internationa& #u#idiarie#
Kotak Indian 6ro,th 4und The fund ai(# to achie"e capita& appreciation 0 eing in"e#ted in #hare# andeuit0@&inked in#tru(ent# of Indian co(panie#.
Kotak Indian Mid@Cap 4und The fund ai(# to achie"e capita& appreciation 0 eing pri(ari&0 in"e#ted inthe #hare# and euit0 &inked in#tru(ent# of (id@capita&i#ation co(panie# in India.
Kotak Indian *ife Science# 4und The fund ai(# to achie"e capita& appreciation 0 eing in"e#ted in#hare# and euit0@&inked in#tru(ent# of Indian co(panie# in the &ife #cience# u#ine##.
Kotak Indian Shariah 4und Kotak Indian Shariah 4und/ an Indian Euit0 fund ,hich endea"our# toachie"e capita& appreciation 0 eing in"e#ted in the #hare# and euit0@&inked in#tru(ent# of co(panie#,hich are Shariah co(p&iant
Indian Euit0 4und of 4und# The Portfo&io endea"our# to achie"e capita& appreciation 0 eing#u#tantia&&0 in"e#ted in the #hare# or unit# of Mutua& 4und# #che(e#/ that are eitherH
i. Euit0 #che(e# in"e#ting predo(inant&0 in Indian euitie#.
ii. Euit0 fund of fund# #che(e# in"e#ting predo(inant&0 in unit# of other Mutua& 4und #che(e#that in"e#t (ain&0 in Indian euitie#.
Kotak *iuid 4und The Kotak *iuid 4und endea"our# to in"e#t predo(inant&0 in %et and Mone0Market in#tru(ent# of #hort (aturit0 <&e## than 1' da0#= and other fund# ,hich in"e#t in #uch #ecuritie#acro## geographie# and currencie# a# app&ica&e under the pre"ai&ing &a,#. The fund (a0 a&#o in"e#t in
ank depo#it#.
4ocu#ed India Portfo&io 4ocu#ed India Portfo&io #eek# to capture the pan@India #tor0 through #pecific otto( up in"e#t(ent# acro## #ector# and (arket capita&iation#
T& Fund
Kotak +ea&t0 4und/ e#ta&i#hed in Ma0 )'1)/ i# one of India># fir#t pri"ate euit0 fund# ,ith a focu# onrea& e#tate and rea& e#tate inten#i"e u#ine##e#. Kotak +ea&t0 4und operate# a# a "enture capita& fund/under the SEBI 7enture Capita& 4und +egu&ation#/ 1$$2 in India. The fund># corpu# ha# een contriuted
0 &eading ank#/ do(e#tic corporate#/ fa(i&0 office# and high net ,orth indi"idua&#. The fund i# c&o#edended and ha# a &ife of #e"en 0ear#.
In"e#t(ent 4or(at#The fund ,ou&d #eek euit0 in"e#t(ent# in de"e&op(ent pro!ect#/ enterpri#e &e"e& in"e#t(ent# in rea&e#tate operating co(panie#/ and in rea& e#tate inten#i"e u#ine##e# not &i(ited to hote&#/ hea&thcare/retai&ing/ education and propert0 (anage(ent. 4urther/ the fund ,ou&d a&#o e in"e#ting in non@
perfor(ing &oan# ,ith under&0ing propert0 co&&atera&.
-##et C&a##
The fund ,ou&d in"e#t in a&& the (ain propert0 a##et c&a##e# #uch a# re#identia& <to,n#hip#/ &u?ur0re#identia&/ &o, co#t hou#ing/ go&f co((unitie#=/ ho#pita&it0 <hote&# and #er"iced apart(ent#=/ office <coreand u#ine## park#=/ #hopping centre# and a&ternati"e a##et c&a##e# #uch a# &ogi#tic# and ,arehou#ing.
6eographica& *ocation#
In order to achie"e geographica& di"er#it0/ the fund ,ou&d in"e#t in not !u#t the Tier I citie# #uch a#Mu(ai/ NC+ and Banga&ore ut a&#o in Tier II citie# #uch a# Pune/ Ko&kotta/ 30deraad and Chennai=and other Tier III citie#/ e?a(p&e# of ,hich are Nagpur/ Coi(otore/ M0#ore and *udhiana=
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The 4und Manager e&ie"e# that through di"er#ification in geographie#/ a##et c&a## and in"e#t(entfor(at#/ the 4und #hou&d e ,e&& po#itioned to achie"e #uperior ri#k ad!u#ted return#.
4und Manage(ent Tea(Kotak +ea&t0 4und i# (anaged 0 it# in"e#t(ent tea( &ocated in Mu(ai/ India and #upported 0 anorganiation in ,hich thought &eader#hip/ contrarian p&a0/ due di&igence/ co((unication and co&&aorati"e
partner#hip# take precedence. The 4und ha# a core tea( of profe##iona&# dedicated to #ourcing/ ana&0ing/e?ecuting and (anaging the in"e#t(ent#. Thi# uniue tea( ring# together profi&e# co(ining rea& e#tate
corporate finance ad"i#or0/ in"e#t(ent anking/ "enture capita&/ infra#tructure de"e&op(ent and finance/and +EITS "a&uation e?perience.Kot"# M"ndr" A%%&t M"n"$&-&nt Co-)"n, L-t&d 7KMAMC8
Kotak Mahindra -##et Manage(ent Co(pan0 *i(ited <KM-MC=/ a ,ho&&0 o,ned #u#idiar0 of KMB*/i# the -##et Manager for Kotak Mahindra Mutua& 4und <KMM4=. KM-MC #tarted operation# in%ece(er 1$$ and ha# o"er 9 *ac in"e#tor# in "ariou# #che(e#. KMM4 offer# #che(e# catering toin"e#tor# ,ith "ar0ing ri#k @ return profi&e# and ,a# the fir#t fund hou#e in the countr0 to &aunch adedicated gi&t #che(e in"e#ting on&0 in go"ern(ent #ecuritie#.
We are #pon#ored 0 Kotak Mahindra Bank *i(ited/ one of India># fa#te#t gro,ing ank#/ ,ith a pedigreeof o"er t,ent0 0ear# in the Indian 4inancia& Market#. Kotak Mahindra -##et Manage(ent Co. *td./ a,ho&&0 o,ned #u#idiar0 of the ank/ i# our In"e#t(ent Manager.
We (ade a hu(&e eginning in the Mutua& 4und #pace ,ith the &aunch of our fir#t #che(e in %ece(er/1$$. Toda0 ,e offer a co(p&ete ouuet of product# and #er"ice# #uiting the di"er#e and "ar0ing need#and ri#k@return profi&e# of our in"e#tor#.
We are co((itted to offering inno"ati"e in"e#t(ent #o&ution# and ,or&d@c&a## #er"ice# and con"enience#to faci&itate ,ea&th creation for our in"e#tor#
A% on M"r 9: t3 0:1;
AUM 6 R%. 1010<.1< Cror&%
No. o( In'&%tor% 6 <.10 L"#%
We are #pon#ored 0 Kotak Mahindra Bank *i(ited/one of India># fa#te#t gro,ing ank#/ ,ith a pedigree ofo"er t,ent0 0ear# in the Indian 4inancia& Market#. Kotak Mahindra -##et Manage(ent Co. *td./ a ,ho&&0 o,ned
#u#idiar0 of the ank/ i# our In"e#t(ent Manager.
We (ade a hu(&e eginning in the Mutua& 4und #pace,ith the &aunch of our fir#t #che(e in %ece(er/ 1$$.Toda0 ,e offer a co(p&ete ouuet of product# and#er"ice# #uiting the di"er#e and "ar0ing need# and ri#k@return profi&e# of our in"e#tor#.
We are co((itted to offering inno"ati"e in"e#t(ent#o&ution# and ,or&d@c&a## #er"ice# and con"enience# tofaci&itate ,ea&th creation for our in"e#tor#.
9." Introducton to Mot*"* O%"* S&curt&% Ltd.
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Moti&a& O#,a& 4inancia& Ser"ice# i# a ,e&& di"er#ified financia& #er"ice# group ha"ing u#ine##e#
in #ecuritie#/ co((oditie#/ in"e#t(ent anking and "enture capita&. With 1'' u#ine## &ocation#
and (ore than /5/''' cu#to(er# in o"er 9)5 citie#/ Moti&a& O#,a& i# ,e&& #uited to hand&e a&&
0our ,ea&th creation and ,ea&th (anage(ent need#. The co(pan0 ha# in the &a#t 0ear p&aced$.9J ,ith t,o &eading pri"ate euit0 in"e#tor# @ Ne, 7ernon Pri"ate Euit0 *i(ited and
Be##e(er 7enture Partner# at po#t (one0 co(pan0 "a&uation of +#. 195 crore. <+#. 1.95
i&&ion=.
Mot*"* O%"* Fn"nc"* S&r'c&% Ltd.3 con%%t% o( (our co-)"n&%.
Mot*"* O%"* In'&%t-&nt Ad'%or% P't. Ltd. i# our In"e#t(ent Banking ar( ,ith co&&ecti"e
e?perience of o"er 1'' 0ear# in in"e#t(ent ankingGcorporate anking and ad"i#or0 #er"ice#
Mot*"* O%"* Co--odt&% Bro#&r 7P8 Ltd. ha# een pro"iding co((odit0 trading faci&itie#and re&ated product# and #er"ice# #ince )''9.
Mot*"* O%"* =&ntur& C")t"* Ad'%or% Pr'"t& L-t&d ha# &aunched the India Bu#ine##
E?ce&&ence 4und <IBE4=/ a DS1'' (n India focu#ed Pri"ate Euit0 4und.
Mot*"* O%"* S&curt&% Ltd. <MOSt= i# a &eading re#earch and ad"i#or0 a#ed #tock roking
hou#e of India/ ,ith a do(inant po#ition in oth in#titutiona& euitie# and ,ea&th (anage(ent.
Our #er"ice# inc&ude euitie#/ deri"ati"e#/ e@roking/ portfo&io (anage(ent/ (utua& fund#/
co((oditie#/ IPO# and depo#itor0 #er"ice#.
In March )''2/ - +e#earch/ a fir( that ana&0#e# the accurac0 of a rokerQ# re#earch ca&&/
dec&ared Moti&a& O#,a& Securitie# the e#t re#earch hou#e for Indian #tock#.
+e#earch i# the #o&id foundation on ,hich Moti&a& O#,a& Securitie# ad"ice i# a#ed. -&(o#t 1'J
of re"enue i# in"e#ted on euit0 re#earch and ,e hire and train the e#t re#ource# to eco(e
ad"i#or#. -t pre#ent ,e ha"e )9 euit0 ana&0#t# re#earching o"er )2 #ector#. 4ro( a funda(enta&/
technica& and deri"ati"e# re#earch per#pecti"eA Moti&a& O#,a&># re#earch report# ha"e recei"ed
,ide co"erage in the (edia <o"er a 1''' (ention# &a#t 0ear=.
Moti&a& O#,a& Securitie# ha# ,itne##ed rapid organic gro,th due to fa"ora&e (arket condition#
a# ,e&& a# effort# put in 0 the co(pan0 it#e&f. 48'5 and 48'2 #a, the co(pan0 gro,
inorganica&&0 through acui#ition of three #ignificant regiona& roking fir(# fro( Karnataka/
Kera&a and DP. O"er a period of ti(e (an0 (ore regiona& roking fir(# (a0 e acuired to gain
#o&id footing in "ariou# region# of India.
The co(pan0 ha# a&#o e#ta&i#hed a a#e in the D-E to addre## the need# of the o"er#ea#
audience.
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Moti&a& O#,a& Securitie# *td. ,a# founded in 1$; a# a #(a&& #u@roking unit/ ,ith !u#t t,o
peop&e running the #ho,. 4ocu# on cu#to(er@fir#t@attitude/ ethica& and tran#parent u#ine##
practice#/ re#pect for profe##iona&i#(/ re#earch@a#ed "a&ue in"e#ting and i(p&e(entation of
cutting@edge techno&og0 ha"e ena&ed u# to &o##o( into an a&(o#t t,o thou#and@(e(er tea(.
Our in#titutiona& u#ine## unit ha# re&ation#hip# ,ith a&(o#t a&& &eading foreign in#titutiona&
in"e#tor# <4II#= in the DS/ DK/ 3ong Kong and Singapore.
The retai& u#ine## unit pro"ide# euit0 in"e#t(ent #o&ution# to (ore than /5/''' in"e#tor#
through 1'' Bu#ine## &ocation# #panning o"er 9)5 citie#. The#e #o&ution# are pro"ided 0 a
force of o"er )''' e(p&o0ee# and o"er ' Bu#ine## -##ociate#. We pro"ide ad"ice@a#ed
roking <euitie# and deri"ati"e#=/ portfo&io (anage(ent #er"ice# <PMS=/ e@Broking/ depo#itor0
#er"ice#/ co((oditie# trading/ IPO and (utua& fund in"e#t(ent ad"i#or0 #er"ice#.
Our 7a&ue Portfo&io ha# de(on#trated "er0 #trong perfor(ance acked 0 our #ing&e@(inded
focu# on re#earch@a#ed "a&ue in"e#ting and the e?perience and (anage(ent of Mr. +aa(deo
-gra,a& an ackno,&edged e?pert in "a&ue in"e#ting.
Our uniue Wea&th Creation Stud0/ authored 0 Mr. +aa(deo -gra,a&/ Managing %irector/ i#
no, in it# e&e"enth 0ear. In"e#tor# keen&0 a,ait thi# annua& #tud0 for the ,ea&th of infor(ation it
ha# on ho, co(panie# created ,ea&th during the preceding fi"e 0ear#.
The organiation find# it# #trength in it# tea( of 0oung/ ta&ented and confident indi"idua&#.
ua&ified profe##iona&# carr0 out different function# under the a&e &eader#hip of it# pro(oter#/
Mr. Moti&a& O#,a& and Mr. +aa(deo -gra,a&. Stringent e(p&o0ee #e&ection proce##/ focu# on
continuou# training and adoption of e#t (anage(ent practice# dri"e the ue#t to achie"ing our
Core Purpo#e and 7a&ue#
)1
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9.! Introducton to 4DFC B"n#
4ou%n$ Fn"nc& S&ctor
-gain#t the (i&ieu of rapid uraniation and a changing #ocio@econo(ic #cenario/ the de(and for
hou#ing ha# gro,n e?p&o#i"e&0. The i(portance of the hou#ing #ector in the econo(0 can e
i&&u#trated 0 a fe, ke0 #tati#tic#. -ccording to the Nationa& Bui&ding Organiation <NBO=/ the
tota& de(and for hou#ing i# e#ti(ated at ) (i&&ion unit# per 0ear and the tota& hou#ing #hortfa&& i#
e#ti(ated to e 1$.9 (i&&ion unit#/ of ,hich 1).;2 (i&&ion unit# i# fro( rura& area# and 2.29
(i&&ion unit# fro( uran area#. The hou#ing indu#tr0 i# the #econd &arge#t e(p&o0(ent generator
in the countr0. It i# e#ti(ated that the udgeted ) (i&&ion unit# ,ou&d &ead to the creation of an
additiona& 1' (i&&ion (an@0ear# of direct e(p&o0(ent and another 15 (i&&ion (an@0ear# of
indirect e(p&o0(ent.
3a"ing identified hou#ing a# a priorit0 area in the Ninth 4i"e 8ear P&an <1$$;@)'')=/ the
Nationa& 3ou#ing Po&ic0 ha# en"i#aged an in"e#t(ent target of +#. 1/5'' i&&ion for thi# #ector. In
order to achie"e thi# in"e#t(ent target/ the 6o"ern(ent need# to (ake &o, co#t fund# ea#i&0
a"ai&a&e and enforce &ega& and regu&ator0 refor(#.
B"c#$round
3%4C ,a# incorporated in 1$;; ,ith the pri(ar0 o!ecti"e of (eeting a #ocia& need that of
pro(oting ho(e o,ner#hip 0 pro"iding &ong@ter( finance to hou#eho&d# for their hou#ing
need#. 3%4C ,a# pro(oted ,ith an initia& #hare capita& of +#. 1'' (i&&ion.
Bu%n&%% O!/&ct'&%
The pri(ar0 o!ecti"e of 3%4C i# to enhance re#identia& hou#ing #tock in the countr0 through
the pro"i#ion of hou#ing finance in a #0#te(atic and profe##iona& (anner/ and to pro(ote ho(e
o,ner#hip. -nother o!ecti"e i# to increa#e the f&o, of re#ource# to the hou#ing #ector 0
integrating the hou#ing finance #ector ,ith the o"era&& do(e#tic financia& (arket#..
))
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Or$"n>"ton"* Go"*%
3%4CQ# (ain goa&# are to
a= %e"e&op c&o#e re&ation#hip# ,ith indi"idua& hou#eho&d#/
= Maintain it# po#ition a# the pre(ier hou#ing finance in#titution
in the countr0/
c= Tran#for( idea# into "ia&e and creati"e #o&ution#/
d= Pro"ide con#i#tent&0 high return# to #hareho&der#.
e= To gro, through di"er#ification 0 &e"eraging off the e?i#ting
c&ient a#e.
)
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9.c Introducton to ICICI B"n#
ICICI Bank i# India># #econd@&arge#t ank ,ith tota& a##et# of aout +#. )/51.$ n <DS 52.
n= at March 1/ )''2 and profit after ta? of +#. )5.9' n <DS 52$ (n= for the 0ear ended
March 1/ )''2 <+#. )'.'5 n <DS 99$ (n= for the 0ear ended March 1/ )''5=. ICICI Bank
ha# a net,ork of ;91 ranche# <inc&uding 9 e?ten#ion counter#= and o"er '' -TM# in India
and pre#ence in ' Internationa& &ocation#. ICICI Bank offer# a ,ide range of anking product#
and financia& #er"ice# to corporate and retai& cu#to(er# through a "ariet0 of de&i"er0 channe&#
and through it# #pecia&ied #u#idiarie# and affi&iate# in the area# of in"e#t(ent anking/ &ife and
non@&ife in#urance/ "enture capita& and a##et (anage(ent. ICICI Bank #et up it# internationa&
anking group in fi#ca& )'') to cater to the cro## order need# of c&ient# and &e"erage on it#
do(e#tic anking #trength# to offer product# internationa&&0. ICICI Bank current&0 ha#
#u#idiarie# in the Dnited Kingdo(/ +u##ia and Canada/ ranche# in Singapore/ Bahrain/ 3ong
Kong/ Sri *anka and %uai Internationa& 4inance Centre and repre#entati"e office# in the Dnited
State#/ Dnited -ra E(irate#/ China/ South -frica and Bang&ade#h. Our DK #u#idiar0 ha#
e#ta&i#hed a ranch in Be&giu(. ICICI Bank i# the (o#t "a&ua&e ank in India in ter(# of
(arket capita&iation.
ICICI Bank># euit0 #hare# are &i#ted in India on the Bo(a0 Stock E?change and the Nationa&
Stock E?change of India *i(ited and it# -(erican %epo#itar0 +eceipt# <-%+#= are &i#ted on the
Ne, 8ork Stock E?change <N8SE=.
ICICI Bank ha# for(u&ated a Code of Bu#ine## Conduct and Ethic# for it# director# and
e(p&o0ee#.
ICICI Bank ,a# origina&&0 pro(oted in 1$$9 0 ICICI *i(ited/ an Indian financia& in#titution/
and ,a# it# ,ho&&0@o,ned #u#idiar0. ICICI># #hareho&ding in ICICI Bank ,a# reduced to 92J
through a pu&ic offering of #hare# in India in fi#ca& 1$$/ an euit0 offering in the for( of -%+#
&i#ted on the N8SE in fi#ca& )'''/ ICICI Bank># acui#ition of Bank of Madura *i(ited in an a&&@
#tock a(a&ga(ation in fi#ca& )''1/ and #econdar0 (arket #a&e# 0 ICICI to in#titutiona& in"e#tor#
in fi#ca& )''1 and fi#ca& )''). ICICI ,a# for(ed in 1$55 at the initiati"e of the Wor&d Bank/ the
6o"ern(ent of India and repre#entati"e# of Indian indu#tr0. The principa& o!ecti"e ,a# to create
a de"e&op(ent financia& in#titution for pro"iding (ediu(@ter( and &ong@ter( pro!ect financing
to Indian u#ine##e#. In the 1$$'#/ ICICI tran#for(ed it# u#ine## fro( a de"e&op(ent financia&
in#titution offering on&0 pro!ect finance to a di"er#ified financia& #er"ice# group offering a ,ide
)9
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"ariet0 of product# and #er"ice#/ oth direct&0 and through a nu(er of #u#idiarie# and affi&iate#
&ike ICICI Bank. In 1$$$/ ICICI eco(e the fir#t Indian co(pan0 and the fir#t ank or financia&
in#titution fro( non@Fapan -#ia to e &i#ted on the N8SE.
-fter con#ideration of "ariou# corporate #tructuring a&ternati"e# in the conte?t of the e(erging
co(petiti"e #cenario in the Indian anking indu#tr0/ and the (o"e to,ard# uni"er#a& anking/ the
(anage(ent# of ICICI and ICICI Bank for(ed the "ie, that the (erger of ICICI ,ith ICICI
Bank ,ou&d e the opti(a& #trategic a&ternati"e for oth entitie#/ and ,ou&d create the opti(a&
&ega& #tructure for the ICICI group># uni"er#a& anking #trateg0. The (erger ,ou&d enhance "a&ue
for ICICI #hareho&der# through the (erged entit0># acce## to &o,@co#t depo#it#/ greater
opportunitie# for earning fee@a#ed inco(e and the ai&it0 to participate in the pa0(ent# #0#te(
and pro"ide tran#action@anking #er"ice#. The (erger ,ou&d enhance "a&ue for ICICI Bank
#hareho&der# through a &arge capita& a#e and #ca&e of operation#/ #ea(&e## acce## to ICICI>#
#trong corporate re&ation#hip# ui&t up o"er fi"e decade#/ entr0 into ne, u#ine## #eg(ent#/
higher (arket #hare in "ariou# u#ine## #eg(ent#/ particu&ar&0 fee@a#ed #er"ice#/ and acce## to
the "a#t ta&ent poo& of ICICI and it# #u#idiarie#. In Octoer )''1/ the Board# of %irector# of
ICICI and ICICI Bank appro"ed the (erger of ICICI and t,o of it# ,ho&&0@o,ned retai& finance
#u#idiarie#/ ICICI Per#ona& 4inancia& Ser"ice# *i(ited and ICICI Capita& Ser"ice# *i(ited/ ,ith
ICICI Bank. The (erger ,a# appro"ed 0 #hareho&der# of ICICI and ICICI Bank in Fanuar0
)'')/ 0 the 3igh Court of 6u!arat at -h(edaad in March )'')/ and 0 the 3igh Court of Fudicature at Mu(ai and the +e#er"e Bank of India in -pri& )''). Con#euent to the (erger/
the ICICI group># financing and anking operation#/ oth ,ho&e#a&e and retai&/ ha"e een
integrated in a #ing&e entit0.
4ree f&oat ho&ding e?c&ude# a&& pro(oter ho&ding#/ #trategic in"e#t(ent# and cro## ho&ding#
a(ong pu&ic #ector entitie#.
)5
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9.d Introducton to ING =,%,"
IN6 70#0a Bank *td./ i# an entit0 for(ed ,ith the co(ing together of er#t,hi&e/ 70#0a Bank
*td/ a pre(ier ank in the Indian Pri"ate Sector and a g&oa& financia& po,erhou#e/ IN6 of %utch
origin/ during Oct )'').
The origin of the er#t,hi&e 70#0a Bank ,a# prett0 hu(&e. It ,a# in the 0ear 1$' that a tea( of
"i#ionarie# ca(e together to found a ank that ,ou&d e?tend a he&ping hand to tho#e ,ho ,eren>t
pri"i&eged enough to en!o0 anking #er"ice#.
It># een a &ong !ourne0 #ince then and the Bank ha# gro,n in #ie and #tature to enco(pa##
e"er0 area of pre#ent@da0 anking acti"it0 and ha# car"ed a di#tinct identit0 of eing India>#
Pre(ier Pri"ate Sector Bank.
In 1$'/ the Bank co(p&eted fift0 0ear# of #er"ice to the nation and po#t 1$5A the Bank (ade
rapid #tride# to reach the co"eted po#ition of eing the nu(er one pri"ate #ector ank. In 1$$'/the ank co(p&eted it# %ia(ond Fui&ee 0ear. -t the %ia(ond Fui&ee Ce&eration#/ the then
4inance Mini#ter Prof. Madhu %anda"ate/ had ter(ed the perfor(ance of the ank RStupendou#Q.
The ;5th anni"er#ar0/ the P&atinu( Fui&ee of the ank ,a# ce&erated during )''5.
T& or$n o( ING Grou)
On the other hand/ IN6 group originated in 1$$' fro( the (erger et,een Nationa&e
Neder&anden N7 the &arge#t %utch In#urance Co(pan0 and NMB Po#t Bank 6roep N7.Co(ining root# and a(ition#/ the ne,&0 for(ed co(pan0 ca&&ed Internationa&e Neder&anden
6roup. Market circ&e# #oon are"iated the na(e to I@N@6. The co(pan0 fo&&o,ed #uit 0
changing the #tatutor0 na(e to IN6 6roup N.7..
Pro(*&
IN6 ha# gained recognition for it# integrated approach of anking/ in#urance and a##et
(anage(ent. 4urther(ore/ the co(pan0 differentiate# it#e&f fro( other financia& #er"ice
)2
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pro"ider# 0 #ucce##fu&&0 e#ta&i#hing &ife in#urance co(panie# in countrie# ,ith e(erging
econo(ie#/ #uch a# Korea/ Tai,an/ 3ungar0/ Po&and/ Me?ico and Chi&e. -nother #pecia&i#ation i#
IN6 %irect/ an Internet and direct (arketing concept ,ith ,hich IN6 i# rapid&0 ,inning retai&
(arket #hare in (ature (arket#. 4ina&&0/ IN6 di#tingui#he# it#e&f internationa&&0 a# a pro"ider of
Re(p&o0ee enefit#Q/ i.e. arrange(ent# of non,age enefit#/ #uch a# pen#ion p&an# for co(panie#
and their e(p&o0ee#.
M%%on
IN6U# (i##ion i# to e a &eading/ g&oa&/ c&ient@focu#ed/ inno"ati"e and &o,@co#t pro"ider of
financia& #er"ice# through the di#triution channe&# of the c&ientQ# preference in (arket# ,here
IN6 can create "a&ue.
=%onTo e a do(inant p&a0er in the Indian (utua& fund #pace/ recognied for it# high &e"e&# of
ethica& and profe##iona& conduct and a co((it(ent to,ard# enhancing in"e#tor intere#t#.
);
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9.& Introducton to NSE
The NSE ,a# incorporated in No" 1$$) ,ith an euit0 capita& of +#.)5 Crore#. The Internationa&
#ecuritie# con#tanc0 <ISC= of 3ong Kong ha# he&ped in #etting up NSE. ISC ha# prepared the
detai&ed u#ine## p&an# and in#ta&&ation of hard ,are and #oft,are #0#te(. The pro(otion of
NSE ,ere financia& in#titution/ in#uranceQ#/ co(panie#/ ank# and SEBI capita& (arket *td.
Infra#tructure &ea#ing and financia& #er"ice &i(ited. -nd #tock 3o&ding Corporation &i(ited.
It ha# een #et up to #trength the (o"e to,ard# profe##iona&i#ation of capita& (arket a# ,e&& a#
pro"ide# nation ,ide #ecuritie# trading faci&itie# to in"e#tor#.
NSE e?change in traditiona& #en#e ,a# roker# o,n and (anage# the e?change. - t,o tier
ad(ini#trati"e #et up in"o&"ing a co(pan0 oard and a go"erning aoard of e?change i#
en"i#aged.
NSE i# a nationa& (arket of #hare PSD ond#/ deenture# and go"ern(ent #ecuritie# #ince
infra#tructure and trading faci&itie# are pro"ided.
NSE6NIFTY?
The NSE on -pri& ))/ 1$$2 &aunched a ne, euit0 Inde?. The NSE@5'. The ne, Inde? ,hich
rep&ace# the e?i#ting NSE 1'' Inde? i# e?pected to #er"e a# an appropriate Inde? for ne,
#eg(ent of future# and option#.
4ift0 (ean# Nationa& Inde? for 4ift0 Stock.
The NSE@5' co(pri#e# 5' co(panie# that repre#ent )' oard indu#tr0 group# ,ith a aggregate
(arket capita&iation of around +#.1;'/ ''' crore#. -&& co(pan0 inc&uded in the Inde? ha"e a
(arket capita&iation in e?ce## of +#.5'' crore# each and #hou&d ha"e traded for 5J of trading
da0 at an i(pact co#t of &e## then 1.5J.
The a#e period for the inde? i# the c&o#e of price# on No"e(er / 1$$5/ ,hich (ake# one 0ear
of co(p&etion of operation# on NSE capita& (arket #eg(ent. The a#e "a&ue of Inde? i# #et at
1'''.
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NSE6MIDCAP INDE@?
The NSE (adcap Inde? or the Funior Nift0 co(pri#e# fift0 #tock# that repre#ent# )1 oard
indu#trie# group and ,i&& pro"ide proper repre#entation of (adcap #eg(ent of Indian Capita&
Market. -&& #tock# in a inde? #hou&d ha"e (arket capita&iation off greater then +#.)'' crore# and
#hou&d ha"e 5J of trading da0# at i(pact co#t of &e## than ).5J.
The a#e period for the inde? i# No"e(er 9th/ 1$$2/ ,hich #ignifie# ) 0ear# of co(p&etion of
operation# of the capita& (arket #eg(ent the operation#. The a#e "a&ue of inde? ha# een at
1'''. -"erage dai&0 turno"er of the pre#ent #cenario )5)1) <&ace#= and nu(er of a"erage dai&0
trade# d)12' <&ace#=.
India i# a &and of (an0 cu&ture# and &anguage#. It# "iranc0 and ue#t for gro,th thro,# up a#
(an0 ue#tion# a# it thro,# up ne, an#,er#.
With g&oa&iation peop&e are con#tant&0 #eeking roader horion of kno,&edge and infor(ation.
3o, (uch ha# the countr0 pro#peredV 3o, ,e&& i# the econo(0 doingV Nift0 i# the p&atfor( on
,hich India find# the#e an#,er#.
The Nift0 Inde? i# a co(po#ite of the top 5' #tock# &i#ted on the Nationa& Stock E?change <NSE=.
It i# a #i(p&ified too& that he&p# in"e#tor# and ordinar0 peop&e a&ike/ to under#tand ,hat i#happening in the #tock (arket and 0 e?ten#ion/ the econo(0. If the Nift0 Inde? perfor(# ,e&&/ it
i# a #igna& that co(panie# in India are perfor(ing ,e&& and con#euent&0 that the countr0 i# doing
,e&&.
-n upeat econo(0 i# u#ua&&0 ref&ected in a #trong perfor(ance of the Nift0 Inde?. - ri#ing
inde? i# a&#o indicati"e that the in"e#tor# are gung@ho aout the future.
The Nift0 Inde? i# a#ed upon #o&id econo(ic re#earch. It i# internationa&&0 re#pected andrecognied a# a pioneering effort in pro"iding #i(p&er under#tanding of #tock (arket
co(p&e?itie#.
Nift0 i# the f&ag#hip inde? of NSE/ the rd &arge#t #tock e?change in the ,or&d in ter(# of
nu(er of tran#action# <Stock 4uture#=.
Nift0 ha# een u#ed to repre#ent S:P CN Nift0/ o,ned and (anaged 0 India Inde? Ser"ice#
and Product# *td. <IIS*=/ a !oint "enture et,een NSE and C+ISI*.
)$
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Nift0 inde? can e u#ed 0 indi"idua&# to track (arket (o"e(ent# and co(pare perfor(ance
of indi"idua& co(panie#Q "i#@X@"i# (arket perfor(ance.
Shareho&der# e"a&uation of (anage(ent deci#ion# @ perfor(ance of a co(pan0 "i#@X@"i# the
(arket genera&&0 ref&ect# the perception of the in"e#tor.
-##i#t trader# and (arket inter(ediarie# to e"a&uate perfor(ance and #enti(ent# acro## the
(arket.
Inde? fund# can rep&icate Nift0 indice# to earn (arket return#.
%eri"ati"e trading @ In"e#tor# can u#e Nift0 indice# for hedging their e?po#ure# in the euit0
(arket#.
Bench(arking N-7 perfor(ance# @ Nift0 i# the ench(ark for perfor(ance of open ended
and c&o#e ended fund#.
NSE N(t, 5unor Ind&
The ne?t rung of &iuid #ecuritie# after S:P CN Nift0 i# the CN Nift0 Funior inde?. It (a0 e
u#efu& to think of the S:P CN Nift0 and the CN Nift0 Funior a# (aking up the 1'' (o#t
&iuid #tock# in India.
-# ,ith the S:P CN Nift0/ #tock# in the CN Nift0 Funior are fi&tered for &iuidit0/ #o the0 are
the (o#t &iuid of the #tock# e?c&uded fro( the S:P CN Nift0.
The (aintenance of the S:P CN Nift0 and the CN Nift0 Funior are #0nchronied #o that the
t,o inde?e# ,i&& a&,a0# e di#!oint #et#A i.e. a #tock ,i&& ne"er appear in oth inde?e# at the #a(e
ti(e. 3ence it i# a&,a0# (eaningfu& to poo& the S:P CN Nift0 and the CN Nift0 Funior into a
co(po#ite 1'' #tock inde?e# or portfo&io.
The (ain feature# of the CN Nift0 Funior Inde? areH
CN Nift0 Funior repre#ent# aout 1'J of the tota& (arket capita&iation a# on -ugu#t 1/
)''9
The a"erage traded "a&ue for the &a#t #i? (onth# of a&& Funior Nift0 #tock# i# appro?i(ate&0J of the traded "a&ue of a&& #tock# on the NSE
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I(pact co#t for CN Nift0 Funior for a portfo&io #ie of +#.).5' (i&&ion i# '.'J
CONSTITUENTS LIST OF CN@ NIFTY 5UNIOR
Co(pan0 Indu#tr0 ISN Code
T7S Motor Co(pan0 *td.-uto(oi&e# @ ) and
,hee&er#INE9$9B'1')
-#hok *e0&and *td. -uto(oi&e# @ 9 ,hee&er# INE)'-'1')$
Pun!a Tractor# *td. -uto(oi&e# @ 9 ,hee&er# INE1;'-'1'1
-ndhra Bank Bank# INE99-'1'1
Bank of Baroda Bank# INE')-'1'1
Bank of India Bank# INE'9-'1'12
Canara Bank Bank# INE9;2-'1'19
Corporation Bank Bank# INE11)-'1'15
Indian O"er#ea# Bank Bank# INE525-'1'19
Indu#tria& %e"e&op(ent Bank of India
*td.Bank# INE''-'1'15
IN6 70#0a Bank *td. Bank# INE122-'1'11
Kotak Mahindra Bank *td. Bank# INE);-'1'1'
S0ndicate Bank Bank# INE22;-'1'1
Dnion Bank of India Bank# INE2$)-'1'12
DTI Bank *td. Bank# INE)-'1')2
7i!a0a Bank Bank# INE;'5-'1'12
Bharat 4orge *td. Ca#ting#Gforging# INE925-'1')5
Inger#o&& +and <India= *td. Co(pre##or# G pu(p# INE1;;-'1'1
Mo#er Baer India *td. Co(puter# @ hard,are INE;$-'1'15
1
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I@4&e? So&ution# *td. Co(puter# @ #oft,are INE1%'1');
Mpha#i# B4* *td. Co(puter# @ #oft,are INE52-'1'1
Patni Co(puter S0#te(# *td. Co(puter# @ #oft,are INE22'4'1'1)
Po&ari# Soft,are *a *td. Co(puter# @ #oft,are INE;2-'1')
Faipraka#h -##ociate# *td. Con#truction INE9554'1'1;
Nir(a *td. %etergent# INE'$1-'1'11
Cu((in# India *td. %ie#e& engine# INE)$-'1')'
Bharat E&ectronic# *td. E&ectronic# @ indu#tria& INE)2-'1'12
+e&iance Capita& *td. 4inance INE'1-'1'15
*IC 3ou#ing 4inance *td. 4inance @ hou#ing INE115-'1'1
I4CI *td. 4inancia& in#titution INE'$-'1'1'
Infra#tructure %e"&op(ent 4inance Co.
*td.4inancia& in#titution INE'9%'1'12
Indian 3ote&# Co. *td. 3ote&# INE'5-'1')$
Ster&ite Indu#trie# <India= *td. Meta&# INE)2-'1'1
Container Corporation of India *td. Mi#ce&&aneou# INE111-'1'1;
-#ian Paint# *td. Paint# INE')1-'1'1
-uroindo Phar(a *td. Phar(aceutica&# INE9'2-'1')$
-"enti# Phar(a *td. Phar(aceutica&# INE'5-'1'1'
Biocon *td. Phar(aceutica&# INE;26'1'1
Cadi&a 3ea&thcare *td. Phar(aceutica&# INE'1'B'1'1$
*upin *td. Phar(aceutica&# INE)2-'1')$
Nicho&a# Pira(a& India *td. Phar(aceutica&# INE19'-'1')9
Pfier *td. Phar(aceutica&# INE1)-'1'1
)
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Wockhardt *td. Phar(aceutica&# INE'9$B'1')5
Bongaigaon +efiner0 : Petroche(ica&#
*td.+efinerie# INE)91-'1'1)
Chennai Petro&eu( Corporation *td. +efinerie# INE1;-'1'12
IBP Co. *td. +efinerie# INE)21-'1'1'
+e&iance Petro&eu( *td. +efinerie# INE9;53'1'11
Tata Te&e#er"ice# <Mahara#htra= *td. Te&eco((unication @ #er"ice# INE51;B'1'1
+a0(ond *td. Te?ti&e product# INE'1-'1'19
-po&&o T0re# *td. T0re# INE9-'1'19
T7S Motor Co(pan0 *td.-uto(oi&e# @ ) and
,hee&er#INE9$9B'1')
NSE NIFTY <: INDE@
S:P CN Nift0 i# a ,e&& di"er#ified 5' #tock inde? accounting for )) #ector# of the econo(0. It
i# u#ed for a "ariet0 of purpo#e# #uch a# ench(arking fund portfo&io#/ inde? a#ed deri"ati"e#
and inde? fund#.
S:P CN Nift0 i# o,ned and (anaged 0 India Inde? Ser"ice# and Product# *td. <IIS*=/ ,hich
i# a !oint "enture et,een NSE and C+ISI*. IIS* i# India># fir#t #pecia&i#ed co(pan0 focu#ed
upon the inde? a# a core product. IIS* ha"e a con#u&ting and &icen#ing agree(ent ,ith Standard
: Poor># <S:P=/ ,ho are ,or&d &eader# in inde? #er"ice#.
The a"erage tota& traded "a&ue for the &a#t #i? (onth# of a&& Nift0 #tock# i# appro?i(ate&0
95.)9J of the traded "a&ue of a&& #tock# on the NSE
Nift0 #tock# repre#ent aout 5;.$)J of the tota& (arket capita&iation a# on -pri& 1'/ )'19.
I(pact co#t of the S:P CN Nift0 for a portfo&io #ie of +#.5 (i&&ion i# '.'J
S:P CN Nift0 i# profe##iona&&0 (aintained and i# idea& for deri"ati"e# trading
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Co(pan0 Indu#tr0 ISN Code
-BB *td. E&ectrica& euip(ent INE11;-'1'19
-CC *td.Ce(ent and ce(ent
product#INE'1)-'1')5
Ba!a! -uto *td.-uto(oi&e# @ ) and
,hee&er#INE11-'1'1)
Bharat 3ea"0 E&ectrica&# *td. E&ectrica& euip(ent INE)5;-'1'1
Bharat Petro&eu( Corporation
*td.+efinerie# INE')$-'1'11
Bharti -irte& *td.Te&eco((unication @
#er"ice#INE$;%'1'12
Cip&a *td. Phar(aceutica&# INE'5$-'1')2
%aur India *td. Per#ona& care INE'12-'1')2
%r. +edd0># *aoratorie# *td. Phar(aceutica&# INE'$-'1')
6-I* <India= *td. 6a# INE1)$-'1'1$
6&a?o#(ithk&ine Phar(aceutica&#
*td.Phar(aceutica&# INE15$-'1'12
6ra#i( Indu#trie# *td.Ce(ent and ce(ent
product#INE'9;-'1'1
6u!arat -(u!a Ce(ent# *td.Ce(ent and ce(ent
product#INE19$-'1')9
3C* Techno&ogie# *td. Co(puter# @ #oft,are INE2'-'1');
3%4C Bank *td. Bank# INE'9'-'1'1
3ero 3onda Motor# *td.
-uto(oi&e# @ ) and
,hee&er# INE15-'1')2
3inda&co Indu#trie# *td. -&u(iniu( INE'-'1')'
3indu#tan *e"er *td. %i"er#ified INE''-'1');
3indu#tan Petro&eu( Corporation
*td.+efinerie# INE'$9-'1'15
3ou#ing %e"e&op(ent 4inance
Corporation *td.4inance @ hou#ing INE''1-'1')
I T C *td. Cigarette# INE159-'1')5
9
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ICICI Bank *td. Bank# INE'$'-'1'1
Indian Petroche(ica&#
Corporation *td.Petroche(ica&# INE''2-'1'1$
Info#0# Techno&ogie# *td. Co(puter# @ #oft,are INE''$-'1')1
*ar#en : Touro *td. Engineering INE'1-'1''
Mahanagar Te&ephone Niga( *td.Te&eco((unication @
#er"ice#INE15-'1'1$
Mahindra : Mahindra *td. -uto(oi&e# @ 9 ,hee&er# INE1'1-'1'1
Maruti Dd0og *td. -uto(oi&e# @ 9 ,hee&er# INE55B'1'1'
Nationa& -&u(iniu( Co. *td. -&u(iniu( INE1$-'1')2Oi& : Natura& 6a# Corporation
*td.Oi& e?p&orationGproduction INE)1-'1'11
Pun!a Nationa& Bank Bank# INE12'-'1'19
+ana?0 *aoratorie# *td. Phar(aceutica&# INE'15-'1')
+e&iance Co((unication# *td.Te&eco((unication @
#er"ice#INE'3'1'1
+e&iance Energ0 *td. Po,er INE'2-'1'12
+e&iance Indu#trie# *td. +efinerie# INE'')-'1'1
+e&iance Petro&eu( *td. +efinerie# INE9;53'1'11
Sat0a( Co(puter Ser"ice# *td. Co(puter# @ #oft,are INE);5-'1')
Sie(en# *td. E&ectrica& euip(ent INE''-'1')9
State Bank of India Bank# INE'2)-'1'1)
Stee& -uthorit0 of India *td. Stee& and #tee& product# INE119-'1'11
Ster&ite Indu#trie# <India= *td. Meta&# INE)2-'1'1
Sun Phar(aceutica& Indu#trie#
*td.Phar(aceutica&# INE'99-'1')
Su&on Energ0 *td. E&ectrica& euip(ent INE'9'3'1'1
Tata Con#u&tanc0 Ser"ice# *td. Co(puter# @ #oft,are INE92;B'1')$
5
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Tata Motor# *td. -uto(oi&e# @ 9 ,hee&er# INE155-'1'19
Tata Po,er Co. *td. Po,er INE)95-'1'1
Tata Stee& *td. Stee& and #tee& product# INE'1-'1'1)
7ide#h Sanchar Niga( *td.Te&eco((unication @
#er"ice#INE151-'1'1
Wipro *td. Co(puter# @ #oft,are INE195-'1'))
Yee Entertain(ent Enterpri#e#
*td.Media : entertain(ent INE)52-'1')
2
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;
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RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF 4DFC BANK FOR
T4E MONT4 OF APR60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 )@-pr@19 $'1.5 @5.$2 @2.) $.9
) @-pr@19 $19.) 1.9 1.11 1.)
9@-pr@19 $)5.'5 1.1$ '.; '.;5
9 5@-pr@19 $9).2 1.$ 1.5 ).5'
5 $@-pr@19 $;1.15 .' ).;1 ;.9
2 1'@-pr@19 $$1.$5 ).19 1.) .1
; 11@-pr@19 $;$.5 @1.); @1.5$ ).5)
1)@-pr@19 $5.5 @).19 @).92 2.'5
$ 1@-pr@19 $1.) ). ).'2 9.)9
1' 12@-pr@19 $;9.$5 @'.29 @'.$2 '.$)
11 1;@-pr@19 $;.'5 '.) ' '
1) 1@-pr@19 $'.9 '.)9 @'.' '.''
1 1$@-pr@19 $).95 '.)1 @'.11 '.'119 )'@-pr@19 $$9.2 1.)9 '.$) '.9
15 )@-pr@19 $2. @'.; @1.1 1.)1
12 )9@-pr@19 1'1.;5 ).; ).91 5.'
1; )5@-pr@19 1'1 1.; 1. 1.$'
1 )2@-pr@19 1'9.95 '. '.'1 '.''
1$ );@-pr@19 1'19.2 @1.$) @).)9 5.'1
(ean '.) "ariance 9.; ).1'
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of 3%4C ank/ it re"ea&# that it #tarted ,ith
negati"e return and there i# continuou# ri#e and fa&& in the #tock price#A here the a"erage return i#
'.) ,ith a price "ariation of 9.; and ri#k factor ).1'. Thu# ,e can #a0 that the ri#k i# "er0 high
,hen co(pared to return#.
GRAP4ICAL REPRESENTATION OF RETURNS OF4DFC BANK FOR T4E MONT4 OF APR60:1;
@
@2
@9
@)
'
)
9
1 5 ; $ 11 1 15 1; 1$Serie#1
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RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF 4DFC BANK FOR
T4E MONT4 OF MAY60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 @Ma0@19 1''9.2 @'.$$ @1.29 ).2
) 9@Ma0@19 1'19.;5 '.1 @'.9 '.11
;@Ma0@19 1'''.'5 @'.;2 @1.91 1.$
9 @Ma0@19 $$1. @'.; @1.5) ).1
5 $@Ma0@19 $$9.; '.9 @'.1 '.1'
2 1'@Ma0@19 1'11. 1.;) 1.19 1.19
; 11@Ma0@19 $$).2 @1.$ @).55 2.5'
19@Ma0@19 $$5.$ '. @'.) '.1'
$ 15@Ma0@19 1'11.'5 1.5) '.; '.;5
1' 12@Ma0@19 1'5.95 ).91 1.;2 .1'
11 1;@Ma0@19 1'9).'5 '.29 @'.'1 '.''
1) 1@Ma0@19 119'. ).;1 ).'2 9.)9
1 )1@Ma0@19 11'2. .91 ).;2 ;.2119 ))@Ma0@19 1115.1 '.;5 '.1 '.'1
15 )@Ma0@19 1119.25 @'.'9 @'.2$ '.9;
12 )9@Ma0@19 1'$1.15 @).11 @).;2 ;.21
1; )5@Ma0@19 1'2$.) @).'1 @).22 ;.19
1 )@Ma0@19 11);.15 5.9) 9.;; )).;5
1$ )$@Ma0@19 1199.9 1.5 '. '.;;
(ean '.25 "ariance .25 1.$1
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of 3%4C ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#A here the a"erage return i# '.25 ,ith a price "ariation
of .25 and ri#k factor 1.$1. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#.
$
GRAP4ICAL REPRESENTATION OF RETURNS OF4DFC BANK FOR T4E MONT4 OF MAY60:1;
@@)@1'
1)952
1 5 ; $ 11 1 15 1; 1$
Serie#1
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RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF 4DFC BANK FOR
T4E MONT4 OF 5UN60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 1@Fun@19 115.95 '.;$ 1.'9 1.'
) 9@Fun@19 112.9 1. 1.55 ).9'
5@Fun@19 115$.2 @'.;5 @'.5 '.)5
9 2@Fun@19 11);.) @).;$ @).59 2.95
5 ;@Fun@19 11'5.55 @1.$) @1.2; ).;
2 @Fun@19 1'$'.$5 @1.) @1.19 1.19
; 11@Fun@19 1'$;.5 '.5$ '.9 '.;'
1)@Fun@19 1'.15 @'.9 @'.5$ '.9
$ 1@Fun@19 1').$ @'.9 @'.) '.'5
1' 19@Fun@19 1'$2.9 1.)5 1.5 ).)5
11 15@Fun@19 111'.5 1.); 1.5) ).1
1) 1@Fun@19 1'.95 @1.$; @1.;) ).$5
1 1$@Fun@19 1'$$.$5 1.'2 1.1 1.;119 )'@Fun@19 11''.'5 '.'1 '.)2 '.'2
15 )1@Fun@19 11'1. '.12 '.91 '.12
12 ))@Fun@19 11' '.11 '.2 '.1)
1; )5@Fun@19 1'$$. @'.)$ @'.'9 '.''
1 )2@Fun@19 1'$.; @'.1 '.15 '.')
1$ );@Fun@19 1'$'.5 @'.;2 @'.51 '.)2
(ean @'.)5 "ariance 1.) 1.19
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of 3%4C ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# @'.)5 ,ith a price "ariation
of 1.) and ri#k factor 1.99.3ere the ri#k i# "er0 high ,hen co(pared to return# ,h0 ecau#e the
a"erage return i# negati"e.
9'
GRAP4ICAL REPRESENTATION OF RETURNS OF
4DFC BANK FOR T4E MONT4 OF 5UN60:1;
@9
@)
'
)
1 5 ; $ 11 1 15 1; 1$ Serie#1
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RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF 4DFC BANK FOR
T4E MONT4 OF 5UL60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 )@Fu&@19 119;.55 5.)5 9.25 )1.2)
) @Fu&@19 115'.5 '.)2 @'.9 '.11
9@Fu&@19 115'.;5 '.') @'.5 '.
9 5@Fu&@19 11)$.1 @1. @).9 2.15
5 2@Fu&@19 115. ).5$ 1.$$ .$2
2 $@Fu&@19 112;.2 '. '.) '.'9
; 1'@Fu&@19 119$. @1.5; @).1; 9.;'
11@Fu&@19 119.;5 @'.'5 @'.25 '.9)
$ 1)@Fu&@19 1)'1.95 9.5$ .$$ 15.$)
1' 1@Fu&@19 1))2.9 ).' 1.9 ).1$
11 12@Fu&@19 1)1;.25 @'.;1 @1.1 1.;1
1) 1;@Fu&@19 11$$. @1.51 @).11 9.95
1 1@Fu&@19 1)''.'5 '.'2 @'.59 '.)$19 1$@Fu&@19 1)'$.)5 '.;; '.1; '.')
15 )'@Fu&@19 1)''.$ @'.2$ @1.)$ 1.22
12 )@Fu&@19 1)'. ).95 1.5 .9)
1; )9@Fu&@19 1)9.$ 1.51 '.$1 '.)
1 )5@Fu&@19 1)$.'5 @'.;$ @1.$ 1.$
1$ )2@Fu&@19 1)1;.)5 @1.;2 @).2 5.52
(ean '.2 "ariance .$2 ).''
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of 3%4C ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#A here the a"erage return i# '.2 ,ith a price "ariation of
.$2 and ri#k factor ).''.3ere the ri#k factor i# (ore than the a"erage return#/ then ,e can #a0
that the ri#k i# "er0 high.
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF 4DFC BANK FOR
T4E MONT4 OF AUG60:1;
91
GRAP4ICAL REPRESENTATION OF RETURNS
OF 4DFC BANK FOR T4E MONT4 OF 5UN60:1;
@9
@)
'
)
9
2
1 5 ; $ 11 1 15 1; 1$
Serie#1
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#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 1@-ug@19 1121.5 @9.5$ @9.) 1.22
) )@-ug@19 115).9 @'.;; @'.5 '.)5
@-ug@19 1155 '.) '.5 '.)5
9 2@-ug@19 11).5 @1.$5 @1.2 ).)5 ;@-ug@19 1191.9 '.;$ 1.'2 1.1)
2 @-ug@19 11;1.;5 ).22 ).$ .5
; $@-ug@19 1155.25 @1.; @1.1 1.)1
1'@-ug@19 11'.5 @).1 @1.$1 .29
$ 1@-ug@19 115.25 '.92 '.; '.5
1' 19@-ug@19 119;.25 1.'2 1. 1.;2
11 12@-ug@19 1'$9 @9.2; @9.9 1$.2
1) 1;@-ug@19 1'2.1 @).; @).1 9.91
1 )'@-ug@19 111'.$ 9.'1 9.) 1.1
19 )1@-ug@19 11'.$5 @'.2 @'.2 '.1)
15 ))@-ug@19 111;.9 1.)) 1.9$ ).))12 )@-ug@19 11''.15 @1.59 @1.); 1.21
1; )9@-ug@19 1'$;.; @'.)) '.'5 '.''
1 );@-ug@19 111$.2 ) ).); 5.15
1$ )@-ug@19 115'.2 ).;; .'9 $.)9
(ean @'.); "ariance 5.)) ).)
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of 3%4C ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#A here the a"erage return i# @'.); ,ith a price "ariation
of 5.)) and ri#k factor ).). 3ere a"erage return i# negati"e/ thu# ,e can #a0 that the ri#k i# "er0
high ,hen co(pared to return#.
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF 4DFC BANK FOR
T4E MONT4 OF SEP60:1;
9)
GRAP4ICAL REPRESENTATION OF RETURNSOF 4DFC BANK FOR T4E MONT4 OF AUG60:1;
@2@9
@)
'
)
9
2
1 5 ; $ 11 1 15 1; 1$Serie#1
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#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 @Sep@19 11;2.9 ).)9 1.'2 1.1)
) 9@Sep@19 11;2.95 ' @1.1 1.$
5@Sep@19 11;).95 @'.9 @1.5) ).1
9 2@Sep@19 119.2 1.'9 @'.19 '.'1
5 ;@Sep@19 11$2.55 1.'1 @'.1; '.')2 1'@Sep@19 11$2.1 @'.'9 @1.)) 1.9
; 11@Sep@19 11;. @'.2$ @1.; .9$
1)@Sep@19 11).15 @'.9 @1.22 ).;5
$ 1@Sep@19 1)1.5 ).25 1.9; ).12
1' 19@Sep@19 1)).; 1.5 '.9 '.12
11 1;@Sep@19 1))2.15 @'.5 @1.;1 ).$)
1) 1@Sep@19 1)1.15 '.91 @'.;; '.5$
1 1$@Sep@19 1)9. ;.5; 2.$ 9'.
19 )'@Sep@19 1)2.) '.19 @1.'9 1.'
15 )1@Sep@19 11.95 @'.5 @1.;2 .'$
12 )9@Sep@19 192.5 ).1 '.$5 '.$'1; )5@Sep@19 1$2.5 .; ).5) 2.5
1 )2@Sep@19 1;5.; @1.9 @).22 ;.19
1$ );@Sep@19 19 9.1; ).$$ .$9
(ean 1.1 "ariance 9.52 ).1
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of 3%4C ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#A here the a"erage return i# 1.1 ,ith a price "ariation
of 9.52 and ri#k factor ).1. Thu# ,e can #a0 that the ri#k i# high ,hen co(pared to return#.
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ICICI BANK FOR
T4E MONT4 OF APR60:1;
#.no %ate C&o#e return <@ar= <@ar=) S%
9
GRAP4ICAL REPRESENTATION OF RETURNS
OF 4DFC BANK FOR T4E MONT4 OF SEP60:1;
@5
'
5
1'
1 5 ; $ 11 1 15 1; 1$
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Price
1 )@-pr@19 '.$5 @;.25 @;.$) 2).
) @-pr@19 ' .)9 ).$; .;2
9@-pr@19 19.$ @).22 @).$9 .29
9 5@-pr@19 )'.$5 1.2) 1.9 1.'
5 $@-pr@19 5' .59 .); 1'.2
2 1'@-pr@19 91. @1.') @1.' 1.2$; 11@-pr@19 .25 @'.1 @'.5$ '.5
1)@-pr@19 5.)5 ).9 ).'2 9.)9
$ 1@-pr@19 ' ).5 ).)2 5.'2
1' 12@-pr@19 5;.;5 @).5 @).' ;.$'
11 1;@-pr@19 5$.5 '.)' @'.19 '.'1
1) 1@-pr@19 9$.)5 @1.1$ @1.9; ).12
1 1$@-pr@19 ;5 .' ).;2 ;.52
19 )'@-pr@19 ;.95 @'.1 @'.95 '.)1
15 )@-pr@19 $' 1.$ 1.2) ).5$
12 )9@-pr@19 .)5 @'.)' @'.9; '.)
1; )5@-pr@19 $9 '.25 '.; '.191 )2@-pr@19 $.$5 '.55 '.) '.19
1$ );@-pr@19 $11 1.9 1.19 1.1)
(ean '.); "ariance 2.29 ).5
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of ICICI ank/ it re"ea&# that return# #tart
,ith negati"e and there i# continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i#
'.); ,ith a price "ariation of 2.29 and ri#k factor ).5. Thu# ,e can #a0 that the ri#k i# "er0 high
,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ICICI BANK FORT4E MONT4 OF MAY60:1;
99
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#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 @Ma0@19 2$.$ @5.11 @5. );.;;
) 9@Ma0@19 ;5 '.5$ '.; '.1
;@Ma0@19 55.5 @).1$ @).9' 5.5)
9 @Ma0@19 55 @'.1' @'.) '.19
5 $@Ma0@19 9.;5 @1.) @1.5 ).1$2 1'@Ma0@19 5' '.;9 '.5) '.9
; 11@Ma0@19 $. @1.)' @1.9) 1.5
19@Ma0@19 9$.5 1.19 '.$) '.$2
$ 15@Ma0@19 9) @'.; @1.' 1.'2
1' 12@Ma0@19 9).$5 '.11 @'.1' '.''
11 1;@Ma0@19 9.95 '.25 '.99 '.)9
1) 1@Ma0@19 ;5 .1 ).$1 .)
1 )1@Ma0@19 ;'.9 @'.5 @'.;9 '.9
19 ))@Ma0@19 2.5 1.$ 1.2; ).$$
15 )@Ma0@19 $1.2 .5 .2 11.;'
12 )9@Ma0@19 $' @1.15 @1.; 1.;)1; )5@Ma0@19 $92 9.1$ .$; 12.)9
1 )@Ma0@19 $.'5 @'.9 @1.'2 1.''
1$ )$@Ma0@19 $51.15 1.9' 1.1 1.59
(ean '.)) "ariance 9.95 ).11
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of ICICI ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# '.)) ,ith a price "ariation
of 9.95 and ri#k factor ).11. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ICICI BANK FOR
T4E MONT4 OF 5UN60:1;
95
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#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 1@Fun@19 $'.95 @1. @1. 1.$
) 9@Fun@19 $.5 '.1 '.)2 $.1
5@Fun@19 $$.'5 '.21 '.52 11.'$
9 2@Fun@19 $11.) @).$; @.') '.'25 ;@Fun@19 $'$.1 @'.) @'.) 2.)'
2 @Fun@19 $'.95 @'.2) @'.2; 9.91
; 11@Fun@19 $11 '.9 '.;$ 1).2;
1)@Fun@19 $'1.$5 @'.$$ @1.'9 ).$$
$ 1@Fun@19 $1; 1.2; 1.2) 1$.);
1' 19@Fun@19 $1$.5 '.)2 '.)1 .
11 15@Fun@19 $1.$5 @'.5$ @'.29 9.59
1) 1@Fun@19 $15 '.11 '.'2 .'1
1 1$@Fun@19 $'5.5 @1.'' @1.'5 ).$2
19 )'@Fun@19 $)5 ).11 ).'2 ).
15 )1@Fun@19 $'.; @1.;2 @1.1 '.$)12 ))@Fun@19 $1.;5 1.11 1.'2 19.2;
1; )5@Fun@19 $95.15 ).; ).) 1.)5
1 )2@Fun@19 $9.15 '.) '.); $.)9
1$ );@Fun@19 $9$.$5 '.1$ '.19 .9;
(ean '.'5 "ariance 1.) 1.5
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of ICICI ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# '.'5 ,ith a price "ariation
of 1.) and ri#k factor 1.5. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ICICI BANK FOR
T4E MONT4 OF 5UL60:1;
#.no %ate C&o#e return <@ar= <@ar=) S%
92
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Price
1 )@Fu&@19 $5'.) @1.5 @1.25 ).;$
) @Fu&@19 $22.; 1.;9 1.2) ).52
9@Fu&@19 $5.$5 1.$$ 1.; .9)
9 5@Fu&@19 1''.25 1.' 1.2 ).;2
5 2@Fu&@19 $1.5 @).)1 @). 5.5)
2 $@Fu&@19 $$2.55 1.5 1.91 1.$; 1'@Fu&@19 $;'.; @).5$ @).;1 ;.95
11@Fu&@19 $1.5 1.11 '.$$ '.$9
$ 1)@Fu&@19 $5.5 '.91 '.)$ '.19
1' 1@Fu&@19 $2.$5 @).1$ @).1 5.9
11 12@Fu&@19 $; '.$9 '.) '.29
1) 1;@Fu&@19 $5.55 @).'' @).1) 9.5
1 1@Fu&@19 $' ).;; ).25 2.$)
19 1$@Fu&@19 $2;.25 @1.)2 @1. 1.$2
15 )'@Fu&@19 1''1 .95 . 1'.$2
12 )@Fu&@19 $;).5 @).5 @).$; .$9
1; )9@Fu&@19 $;'.$ @'.12 @'.) '.'$1 )5@Fu&@19 $;.; '.)$ '.1; '.')
1$ )2@Fu&@19 $.5 '.$$ '.; '.;)
(ean '.1) "ariance .52 1.$
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of ICICI ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# '.1) ,ith a price "ariation
of .52 and ri#k factor 1.$. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ICICI BANK FOR
T4E MONT4 OF AUG60:1;
#.no %ate C&o#e return <@ar= <@ S%
9;
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Price ar=)
1 @Sep@19 $19.$ ).'5 1.$5 .;$
) 9@Sep@19 $'' @'.; @'.$; '.$5
5@Sep@19 $'5 '.52 '.95 '.)1
9 2@Sep@19 $'.2 '.9' '.' '.'$
5 ;@Sep@19 $15.9 '.;5 '.25 '.9)
2 1'@Sep@19 $1) @'.; @'.9; '.)); 11@Sep@19 $1 '.22 '.52 '.1
1)@Sep@19 $)'.$ '.) '.)1 '.'5
$ 1@Sep@19 $)5 '.95 '.9 '.1)
1' 19@Sep@19 $)'.'5 @'.59 @'.29 '.91
11 1;@Sep@19 $1'.$ @'.$$ @1.1' 1.)'
1) 1@Sep@19 $1).5 '.1 '.19 '.'1
1 1$@Sep@19 $12. '.9) '.1 '.1'
19 )'@Sep@19 $'1.55 @1.21 @1.;1 ).$
15 )1@Sep@19 $'2.) '.5) '.91 '.1;
12 )9@Sep@19 5.5 @).' @).9' 5.;
1; )5@Sep@19 9.'5 @'.15 @'.)5 '.'21 )2@Sep@19 $ 1.5 1.9 ).1
1$ );@Sep@19 $'2. '.$) '.) '.2;
(ean '.1' "ariance 1.' 1.')
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of ICICI ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# '.1' ,ith a price "ariation
of 1.'and ri#k factor 1.')/ fina&&0 ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ING =YSYA BANK
FOR T4E MONT4 OF APR60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 )@-pr@19 12.) @).$1 @.1 1'.$5
9$
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) @-pr@19 12;.'5 @'.2 @1.' 1.12
9@-pr@19 12$. 1.5 '.$5 '.$'
9 5@-pr@19 12.) @'.25 @1.'5 1.1'
5 $@-pr@19 12;. @'.59 @'.$9 '.
2 1'@-pr@19 12.'5 '.95 '.'5 '.''
; 11@-pr@19 1;9.1 .2 .) 1'.)9
1)@-pr@19 1;'.1 @). @).; ;.)$$ 1@-pr@19 1;2 .9; .19 $.9)
1' 12@-pr@19 1'.)5 ).91 ).'1 9.'9
11 1;@-pr@19 19.;5 ).5 ).1 9.91
1) 1@-pr@19 12 '.2 '.) '.19
1 1$@-pr@19 11. @).)2 @).22 ;.19
19 )'@-pr@19 1'.$5 @'.9; @'.; '.;5
15 )@-pr@19 1.55 1.99 1.'9 1.'
12 )9@-pr@19 15.5 '.$ '.5 '.
1; )5@-pr@19 12.5 '.59 '.19 '.'1
1 )2@-pr@19 12.25 '.12 @'.)9 '.'5
1$ );@-pr@19 12.9 @'.1 @'.5 '.)(ean '.9 "ariance .12 1.;;
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of IN6 78S8- ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# '.9 ,ith a price "ariation of
.12 and ri#k factor 1.;;. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ING =YSYA BANK
FOR T4E MONT4 OF MAY60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
5'
GRAP4ICAL REPRESENTATION OF RETURNS OF
ING =YSYA BANK FOR T4E MONT4 OF APR60:1;
@9@@)@1
'1)
9
1 5 ; $ 11 1 15 1; 1$Serie#1
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1 @Ma0@19 1$$.$5 ;.); 5.9 )$.9
) 9@Ma0@19 )'5.1 ).5 '.;9 '.59
;@Ma0@19 )'.55 1.2 @'.12 '.')
9 @Ma0@19 )19.;5 @'. @).)) 9.$)
5 $@Ma0@19 )'9.)5 @1.2 @.5) 1).9'
2 1'@Ma0@19 )1'.15 ).$ 1.'5 1.1'
; 11@Ma0@19 ))1.25 5.9; .2 1.1; 19@Ma0@19 ))2.$5 ).$ '.55 '.'
$ 15@Ma0@19 ).$5 .' 1.)9 1.5
1' 12@Ma0@19 )$.9 ). '.9$ '.)9
11 1;@Ma0@19 )$.$5 '.) @1.21 ).2'
1) 1@Ma0@19 )2.$5 @1.)5 @.'$ $.59
1 )1@Ma0@19 );.55 '.)5 @1.5$ ).5)
19 ))@Ma0@19 )$.$5 1.'1 @'. '.2
15 )@Ma0@19 )$.9 @'.) @).19 9.)
12 )9@Ma0@19 )5'.; 9.;) ). .'
1; )5@Ma0@19 )29 5.1 .9; 1).'9
1 )@Ma0@19 )22.1 '. @1.'9 1.'1$ )$@Ma0@19 )2) @1.59 @. 11.9)
(ean 1.9 "ariance 2.11 ).9;
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of IN6 78S8- ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# 1.9 ,ith a price "ariation
of 2.11 and ri#k factor ).9;. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ING =YSYA BANK
FOR T4E MONT4 OF 5UN60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 1@Fun@19 )5).; @.55 @.5; 1).;9
51
GRAP4ICAL REPRESENTATION OF RETURNS OF
ING =YSYA BANK FOR T4E MONT4 OF MAY60:1;
@9
@)
'
)
9
2
1 5 ; $ 11 1 15 1; 1$
Serie#1
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) 9@Fun@19 )9).5 @9.1 @9.1) 12.$;
5@Fun@19 )92.$ 1. 1.2 .95
9 2@Fun@19 ).25 @.9 @.2 11.)
5 ;@Fun@19 )).55 @).52 @).5 2.25
2 @Fun@19 )1.2 @'.91 @'.9 '.1
; 11@Fun@19 )2.'5 1.$) 1.$ .21
1)@Fun@19 )9.5 @'.22 @'.2 '.92$ 1@Fun@19 )2.2 '.$ '. '.;;
1' 19@Fun@19 )9'.9 1.21 1.5$ ).5)
11 15@Fun@19 )5).9 9.$$ 9.$; )9.;'
1) 1@Fun@19 )52. 1.;9 1.;) ).$5
1 1$@Fun@19 )5$.$5 1.) 1.)1 1.92
19 )'@Fun@19 )25.) ).') ) 9
15 )1@Fun@19 )2.'5 1.19 1.'5 1.1'
12 ))@Fun@19 )2.9 @1.; @1.;5 .'2
1; )5@Fun@19 )52.55 @).2 @).2) 2.2
1 )2@Fun@19 )21.15 1.;$ 1.;; .1
1$ );@Fun@19 )21.2 '.1; '.15 '.')(ean '.') "ariance 5.5; ).2
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of IN6 78S8- ank/ it re"ea&# that there i#continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# '.') ,ith a price "ariation
of 5.5; and ri#k factor ).2. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ING =YSYA BANK
FOR T4E MONT4 OF 5UL60:1;
#.no %ate C&o#ePrice return <@ar= <@ar=) S%
1 )@Fu&@19 )5.55 @1.1; @1.) 1.51
5)
GRAP4ICAL REPRESENTATION OF RETURNS OF
ING =YSYA BANK FOR T4E MONT4 OF 5UN60:1;
@2
@9
@)
'
)
9
2
1 5 ; $ 11 1 15 1; 1$Serie#1
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) @Fu&@19 )5$.25 '.9 '.; '.1
9@Fu&@19 )21.9 '.2; '.21 '.;
9 5@Fu&@19 )51.5 @.;$ @.5 19.)
5 2@Fu&@19 )5).55 '.9) '.2 '.1)
2 $@Fu&@19 );'.5 ;.)5 ;.1$ 51.;'
; 1'@Fu&@19 )2.)5 @'.$2 @1.') 1.'9
11@Fu&@19 )2). @).)) @).) 5.)'$ 1)@Fu&@19 )5$.2 @1.' @1.'$ 1.1
1' 1@Fu&@19 )5$.95 @'.'2 @'.1) '.'1
11 12@Fu&@19 )5;.15 @'.$ @'.$5 '.$'
1) 1;@Fu&@19 )9$.2 @).$9 @ $
1 1@Fu&@19 )59.15 1.) 1.;2 .1'
19 1$@Fu&@19 )55.15 '.$ '. '.1'
15 )'@Fu&@19 )5;.1 '.;2 '.; '.5'
12 )@Fu&@19 )5;.5 '.)$ '.) '.'5
1; )9@Fu&@19 )59.; @1.)) @1.) 1.2
1 )5@Fu&@19 )59.$ '.' '.') '.''
1$ )2@Fu&@19 )2.)5 .) .)) 1'.2(ean '.'2 "ariance 5.5 ).1
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of IN6 78S8- ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# '.'2 ,ith a price "ariation
of 5.5 and ri#k factor ).1. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ING =YSYA BANK
FOR T4E MONT4 OF AUG60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 1@-ug@19 )91.$ @.11 @;.;1 5$.99
5
GRAP4ICAL REPRESENTATION OF RETURNS OF
ING =YSYA BANK FOR T4E MONT4 OF 5UL60:1;
@2
@9
@)
'
)
9
2
1 5 ; $ 11 1 15 1; 1$
Serie#1
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) )@-ug@19 )9'.5 @'.5 @'.1 '.'
@-ug@19 )92.9 ).95 ).5 .1)
9 2@-ug@19 )9.95 @1.) @'. '.29
5 ;@-ug@19 )9'.55 @1.1$ @'.;$ '.2)
2 @-ug@19 )21. . $.) 5.)'
; $@-ug@19 )5'.) @9.9 @9.' 12.)9
1'@-ug@19 )9.1 @).9 @).99 5.$5$ 1@-ug@19 )9.1 ' '.9 '.12
1' 19@-ug@19 )91.5 @'.51 @'.11 '.'1
11 12@-ug@19 );.$ @1.2 @1.) 1.51
1) 1;@-ug@19 ).)5 @1.$5 @1.55 ).9'
1 )'@-ug@19 )).2 @'.) '.1) '.'1
19 )1@-ug@19 )).; @1.2 @1.) 1.2
15 ))@-ug@19 ));.5 @'.5$ @'.1$ '.'
12 )@-ug@19 );.1 9.)$ 9.2$ )).''
1; )9@-ug@19 )).) @.;5 @.5 11.))
1 );@-ug@19 )5. . .; 1.$1
1$ )@-ug@19 )9'.$ ).12 ).52 2.55(ean @'.9 "ariance 1).9' .5)
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of IN6 78S8- ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# @'.9 ,ith a price "ariation
of 1).9' and ri#k factor .5). Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF ING =YSYA BANK
FOR T4E MONT4 OF SEP60:1;
#.no %ateC&o#ePrice return <@ar= <@ar=) S%
1 @Sep@19 )9$. .2$ .51 1).)) 9@Sep@19 )92. @1.9 @1.5 ).5'
5@Sep@19 )91. @1. @).'1 9.'9
59
GRAP4ICAL REPRESENTATION OF RETURNS OF
ING =YSYA BANK FOR T4E MONT4 OF AUG60:1;
@1'
@5
'
5
1'
1 5 ; $ 11 1 15 1; 1$Serie#1
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9 2@Sep@19 )92.2 1.$$ 1.1 .);
5 ;@Sep@19 )99.95 @'.; @1.'5 1.1'
2 1'@Sep@19 )9'.5 @1.9; @1.25 ).;)
; 11@Sep@19 )91.1 '.1 @'.' '.''
1)@Sep@19 )9).95 '.52 '. '.19
$ 1@Sep@19 )9).55 '.'9 @'.19 '.'1
1' 19@Sep@19 )92. 1.;5 1.5; ).9211 1;@Sep@19 )91.25 @).'$ @).); 5.15
1) 1@Sep@19 )99.$ 1.9 1.12 1.9
1 1$@Sep@19 )99.)5 @'.); @'.95 '.)'
19 )'@Sep@19 )99 @'.1 @'.) '.19
15 )1@Sep@19 )92.9 '.$ '. '.29
12 )9@Sep@19 )2).1 2.; 2.1$ .1
1; )5@Sep@19 )92.5 @5.) @2 2
1 )2@Sep@19 )95.'5 @'.; @'.$1 '.)
1$ );@Sep@19 )9.1 1.)9 1.'2 1.1)
(ean '.1 "ariance 5.$' ).9
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of IN6 78S8- ank/ it re"ea&# that there i#
continuou# ri#e and fa&& in the #tock price#/ here the a"erage return i# '.1 ,ith a price "ariation
of 5.$' and ri#k factor ).9. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF NSE FOR T4E
MONT4 OF APR60:1;
#.no %ate c&o#ing price return# <@ar= <@ar=) S%
1 )@-pr@19 9;$.; @.$ @.9 19.;;
) @-pr@19 999.1) 1.5; 1.1) 1.)5 9@-pr@19 99$$.$1 1.12 '.;1 '.51
9 5@-pr@19 95)).51 '.5' '.'5 '.''
55
GRAP4ICAL REPRESENTATION OF RETURNS OF
ING =YSYA BANK FOR T4E MONT4 OF SEP60:1;
@@2@9@)')
92
1 5 ; $ 11 1 15 1; 1$Serie#1
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5 $@-pr@19 92).' ).99 1.$$ .$9
2 1'@-pr@19 92.91 '.1) @'. '.11
; 11@-pr@19 9255. '. @'.' '.'1
1)@-pr@19 9212.5 @'.5 @1.' 1.;'
$ 1@-pr@19 9;)1.) ).) 1. .5
1' 12@-pr@19 9;.5 ).95 ).'' .$$
11 1;@-pr@19 9'.' @'.;1 @1.12 1.51) 1@-pr@19 95.9) '.2; '.)) '.'5
1 1$@-pr@19 91.21 @'.5 @'.' '.29
19 )'@-pr@19 9$).9; ).1 1.;) ).$;
15 )@-pr@19 9$1.' '.15 @'.' '.'$
12 )9@-pr@19 9$$$.5) 1.$ '.$ '.;
1; )5@-pr@19 5''.' '.2) '.12 '.'
1 )2@-pr@19 5'9.' '.)5 @'.)' '.'9
1$ );@-pr@19 9$)$.15 @).)2 @).;1 ;.5
(ean '.95 "ariance ).)2 1.5'
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of NSE/ it re"ea&# that there i# continuou# ri#e
and fa&& in the #tock price#/ here the a"erage return i# '.95 ,ith a price "ariation of ).)2 and ri#k
factor 1.5'. Thu# ,e can #a0 that the ri#k i# high ,hen co(pared to return#
52
GRAP4ICAL REPRESENTATION OF RETURNS
OF NSE FOR T4E MONT4 OF APR60:1;
@9
@)
'
)
9
1 5 ; $ 11 1 15 1; 1$
Serie#1
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF NSE FOR T4E
MONT4 OF MAY60:1;
#.no %ate c&o#ing price return# <@ar= <@ar=) S%
1 @Ma0@19 5'1'.99 1.25 1. 1.$1
) 9@Ma0@19 9$;'.'' @'.1 @1.19 1.12
;@Ma0@19 9$2).5) @'.15 @'.9) '.19 @Ma0@19 9$)1.' @'. @1.1' 1.)1
5 $@Ma0@19 9$)9.' '.'2 @'.)1 '.'9
2 1'@Ma0@19 9$'.$$ @'.1 @'.5; '.
; 11@Ma0@19 9$)'. '.)9 @'.' '.''
19@Ma0@19 9$$'.55 1.9) 1.15 1.)
$ 15@Ma0@19 9$;.25 @'.9 @'.21 '.;
1' 12@Ma0@19 5'9.;$ 1.) '.$2 '.$)
11 1;@Ma0@19 5'$.$' 1.1; '.$1 '.)
1) 1@Ma0@19 5';.' @'.1) @'.$ '.15
1 )1@Ma0@19 519.1 1.1' '. '.2$
19 ))@Ma0@19 5129.5 '.9' '.19 '.')15 )@Ma0@19 51)2.19 @'.;5 @1.'1 1.'
12 )9@Ma0@19 5192.)1 @'.$; @1.)9 1.59
1; )5@Ma0@19 51).9) 1.' '.;2 '.5
1 )@Ma0@19 51.52 '.)' @'.19 '.''
1$ )$@Ma0@19 51).; '.2 '.5$ '.5
(ean '.); "ariance '.22 '.1
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of NSE/ it re"ea&# that there i# continuou# ri#e
and fa&& in the #tock price#/ here the a"erage return i# '.); ,ith a price "ariation of '.22 and ri#k
factor '.1. Thu# ,e can #a0 that the ri#k i# high ,hen co(pared to return#
5;
GRAP4ICAL REPRESENTATION OF RETURNS
OF NSE FOR T4E MONT4 OF MAY60:1;
@)
@1
'
1
)
1 5 ; $ 11 1 15 1; 1$
Serie#1
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF NSE FOR T4E
MONT4 OF 5UN60:1;
#.no %ate c&o#ing price return# <@ar= <@ar=) S%
1 1@Fun@19 51.5 '.11 '.1 '.')
) 9@Fun@19 515).2 @'.;' @'.2; '.92
5@Fun@19 51;.21 '.91 '.99 '.1$9 2@Fun@19 5'2$.$$ @).'' @1.$ .$)
5 ;@Fun@19 5'9;.;1 @'.99 @'.9) '.1;
2 @Fun@19 5'19.; @'.;$ @'.;; '.5$
; 11@Fun@19 5''.5$ '.'1 '.'9 '.''
1)@Fun@19 5')1.) '.)5 '.) '.'
$ 1@Fun@19 9$;1.;2 @'.$$ @'.$2 '.$
1' 19@Fun@19 5'9). 1.9) 1.99 ).'
11 15@Fun@19 5'99.$' '.'5 '.19 '.'1
1) 1@Fun@19 5'15.95 @'.5 @'.52 '.1
1 1$@Fun@19 5'$2.;) 1.2) 1.29 ).;'
19 )'@Fun@19 51.)2 '.) '.9 '.;'15 )1@Fun@19 512'.$9 '.99 '.92 '.))
12 ))@Fun@19 519). @'.2 @'.9 '.11
1; )5@Fun@19 5151.)2 '.1; '.)' '.'9
1 )2@Fun@19 51.19 '.2) '.29 '.91
1$ );@Fun@19 5152.;; @'.51 @'.9 '.)
(ean @'.') "ariance '.2$ '.
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of NSE/ it re"ea&# that there i# continuou# ri#e
and fa&& in the #tock price#/ here the a"erage return i# @'.') ,ith a price "ariation of '.2$ and ri#k
factor '.. 3ere the a"erage return i# negati"e then/ ,e can #a0 that the ri#k i# "er0 high.
5
GRAP4ICAL REPRESENTATION OF RETURNS
OF NSE FOR T4E MONT4 OF 5UN60:1;
@
@)
@1
'
1
)
1 5 ; $ 11 1 15 1; 1$Serie#1
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF NSE FOR T4E
MONT4 OF 5UL60:1;
#.no %ate c&o#ing price return# <@ar= <@ar=) S%
1 )@Fu&@19 5)1.) 1.1$ '.;2 '.5
) @Fu&@19 5);1.' 1.') '.5 '.9
9@Fu&@19 5);.9) '.'9 @'.$ '.159 5@Fu&@19 5)2;. @'.1) @'.55 '.'
5 2@Fu&@19 5'9.9 '.;1 '.) '.'
2 $@Fu&@19 592.29 '.;$ '.2 '.1
; 1'@Fu&@19 51.19 @'.)$ @'.;) '.5)
11@Fu&@19 5'.); @'.9 @'.2 '.;9
$ 1)@Fu&@19 5;$.22 1.9 '.$1 '.9
1' 1@Fu&@19 595'.5; 1.) '.$ '.;$
11 12@Fu&@19 592).'1 '.)1 @'.)) '.'5
1) 1;@Fu&@19 599.9 @'. @'.;2 '.5
1 1@Fu&@19 599;.) '.'2 @'.; '.19
19 1$@Fu&@19 55)).$5 1.$ '.$2 '.$)15 )'@Fu&@19 55);.;9 '.'$ @'.9 '.1)
12 )@Fu&@19 55$).)2 1.1; '.;9 '.59
1; )9@Fu&@19 55$.$2 '.' @'.9' '.12
1 )5@Fu&@19 5555.12 @'.2$ @1.1) 1.)2
1$ )2@Fu&@19 55$).1 '.2 '.)5 '.'2
(ean '.9 "ariance '.99 '.22
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of NSE/ it re"ea&# that there i# continuou# ri#e
and fa&& in the #tock price#/ here the a"erage return i# '.9 ,ith a price "ariation of '.99 and ri#k
factor '.22. Thu# ,e can #a0 that the ri#k i# &o, ,hen co(pared to return#
5$
GRAP4ICAL REPRESENTATION OF RETURNS
OF NSE FOR T4E MONT4 OF 5UL60:1;
@1.''
@'.5'
'.''
'.5'
1.''
1.5'
1 5 ; $ 11 1 15 1; 19
Serie#1
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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RETURNS3 MEAN3 =ARIANCE AND STANDARD DE=IATION OF NSE FOR T4E
MONT4 OF AUG60:1;
#.no %ate c&o#ing price return# <@ar= <@ar=) S%
1 1@-ug@19 5)21.2$ @5.$) @5.2' 1.
) )@-ug@19 5);9.;2 '.)5 '.5; '.)
@-ug@19 5'.) 1.'5 1.; 1.9 2@-ug@19 5)55.' @1.91 @1.'$ 1.1$
5 ;@-ug@19 5);2.;2 '.91 '.; '.5
2 @-ug@19 59'2.51 ).92 ).; ;.;1
; $@-ug@19 55.19 @1.) @1.'' 1.''
1'@-ug@19 5)5'.51 @1.5$ @1.); 1.21
$ 1@-ug@19 5)$$.9 '.$ 1.)5 1.52
1' 19@-ug@19 5)$5.); @'.' '.)9 '.'2
11 12@-ug@19 5'2.9) @9. @9.'2 12.9
1) 1;@-ug@19 9$;.; @1.2; @1.5 1.
1 )'@-ug@19 51'1.1' ).92 ).; ;.;1
19 )1@-ug@19 9$.51 @.1$ @).; .)15 ))@-ug@19 5'.29 1.$ ).)9 5.'9
12 )@-ug@19 9$;.2 @'.$1 @'.2' '.5
1; )9@-ug@19 519.;; 1. ).15 9.2'
1 );@-ug@19 5)15.11 ).2 .'' $.')
1$ )@-ug@19 5);.'1 '.9) '.;9 '.55
(ean @'.) "ariance 5.) ).'
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho,# the dai&0 return# of NSE/ it re"ea&# that there i# continuou# ri#e
and fa&& in the #tock price#/ here the a"erage return i# negati"e that i# @'.) ,ith a price "ariation
of 5.) and ri#k factor ).'. Thu# ,e can #a0 that the ri#k i# "er0 high ,hen co(pared to return#
2'
GRAP4ICAL REPRESENTATION OF RETURNS
OF NSE FOR T4E MONT4 OF AUG60:1;
@1'
@5
'
5
1 5 ; $ 11 1 15 1; 1$Serie#1
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND 4DFC BANK FOR
T4E MONT4 OF APR60:1;
-pr@19
#.no
return# of
NSE<=
return of
3%4C<8= 8 ) 1 @.$ @5.$2 )'.)' 11.9$
) 1.5; 1.9 ).)9 ).92
1.12 1.1$ 1.$ 1.2 Z? .21
9 '.5' 1.$ '.$5 '.)5 Z0 2.1
5 ).99 .' ;.$ 5.$5 Z?Z0 5).;$
2 '.1) ).19 '.)2 '.'1 Z?) 92.$1
; '. @1.); @'.9 '.19 Z0 9$.9
@'.5 @).19 1.) '.;) NZ?) $1.)
$ ).) ). 5.99 5.)) <Z?=) ;9.1;
1' ).95 @'.29 @1.5; 2.'1 NZ0 $;.9)11 @'.;1 '.) @'.) '.5'
1) '.2; '.)9 '.12 '.95 NZ0@ZZ8 9.2
1 @'.5 '.)1 @'.19 '.1) NZ)@<Z=) 1;.1)
19 ).1 1.)9 ).;' 9.;9
15 '.15 @'.; @'.1) '.') [ 1.'
12 1.$ ).; .;$ 1.$
1; '.2) 1.; 1.'5 '.
1 '.)5 '. '.' '.'2
1$ @).)2 @1.$) 9.9 5.1'
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and 3%4C ank/
here the eta "a&ue i# 1.'/ (ean# #tock price theoretica&&0 J (ore "o&ati&e than the (arket.
Thu# ,e can #a0 that, a&(o#t a&& the #tock price (o"e# ,ith (arket. 3ere the i(pact of increa#e
or decrea#e in (arket ,i&& affect the #tock price 0 1.' point#.
2)
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND 4DFC BANK FOR T4E MONT4 OF APR60:1;
@1'.''
@5.''
'.''
5.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of
NSE<=
+eturn of 3%4C<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND 4DFC BANK FOR
T4E MONT4 OF MAY60:1;
Ma0@19
#.noreturn# of
NSE<?=return of3%4C<0= 8 )
1 1.25 @'.$$ @1.2 ).;)
) @'.1 '.1 @'.)5 '.25
@'.15 @'.;2 '.11 '.') Z? 5.'$
9 @'. @'.; '.;) '.2$ Z0 1).91
5 '.'2 '.9 '.') '.'' Z?Z0 2.15
2 @'.1 1.;) @'.5 '.'$ Z?) 1.$
; '.)9 @1.$ @'.92 '.'2 Z0 ;.;$
1.9) '. '.9; ).'' NZ?) )25.2)
$ @'.9 1.5) @'.51 '.11 <Z?=) )5.$'
1' 1.) ).91 ).$2 1.51 NZ0 19.')
11 1.1; '.29 '.;5 1.
1) @'.1) ).;1 @'.) '.'1 NZ0@ZZ8 9.;1 1.1' .91 .;5 1.)1 NZ)@<Z=) )$.;
19 '.9' '.;5 '.' '.12
15 @'.;5 @'.'9 '.' '.52 [ '.5
12 @'.$; @).11 ).'5 '.$5
1; 1.' @).'1 @).19 1.'2
1 '.)' 5.9) 1.19 '.'9
1$ '.2 1.5 1.) '.;9
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and 3%4C ank.
3ere the eta "a&ue i# '.5/ (ean# the #tock price i# &e## "o&ati&e then the (arket. 3ere the #tock
(o"e# &e## than the (arket. The i(pact of increa#e or decrea#e in (arket ,i&& affect the #tock
price 0 '.5 point#.
2
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND 4DFC BANK FOR T4E MONT4 OF MAY60:1;
@5.''
'.''
5.''
1'.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<?=
+eturn of 3%4C<0=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND 4DFC BANK FOR
T4E MONT4 OF 5UN60:1;
Fun@19
#.noreturn# of
NSE<?=return of3%4C<0= 8 )
1 '.11 '.;$ '.'$ '.'1
) @'.;' 1. @'.$1 '.9$
'.91 @'.;5 @'.1 '.1; Z? @'.99
9 @).'' @).;$ 5.5$ 9.'1 Z0 @9.2
5 @'.99 @1.$) '.9 '.1$ Z?Z0 ).'5
2 @'.;$ @1.) 1.'9 '.2) Z?) 1.1
; '.'1 '.5$ '.'1 '.'' Z0 11.2
'.)5 @'.9 @'.)1 '.'2 NZ?) )5'.
$ @'.$$ @'.9 '.9; '.$; <Z?=) '.1$
1' 1.9) 1.)5 1.; ).') NZ0 ))1.')
11 '.'5 1.); '.'2 '.''
1) @'.5 @1.$; 1.15 '.9 NZ0@ZZ8 )1.$21 1.2) 1.'2 1.;) ).2 NZ)@<Z=) )5'.1
19 '.) '.'1 '.'1 '.22
15 '.99 '.12 '.19 '.1$ [ '.
12 @'.2 '.11 @'.'9 '.1
1; '.1; @'.)$ @'.'5 '.'
1 '.2) @'.1 @'.'2 '.
1$ @'.51 @'.;2 '.$ '.)2
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and 3%4C ank/
here the eta "a&ue i# '..3ere the eta "a&ue i# &e## than 1/ and it indicate# #tock (o"e# &e##
than the (arket. 3ere the i(pact of increa#e or decrea#e in (arket ,i&& affect the #tock price 0
'. point#.
29
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND 4DFC BANK FOR T4E MONT4 OF 5UN60:1;
@9.''
@).''
'.''
).''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<?=
+eturn of 3%4C<0=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND 4DFC BANK FOR
T4E MONT4 OF 5UL60:1;
Fu&@19
#.noreturn# of
NSE<?=return of3%4C<0= 8 )
1 1.1$ 5.)5 2.); 1.9)
) 1.') '.)2 '.)2 1.'
'.'9 '.') '.'' '.'' Z? .1
9 @'.1) @1. '.)) '.'1 Z0 11.9)
5 '.;1 ).5$ 1.9 '.51 Z?Z0 $.;
2 '.;$ '. '.2 '.2) Z?) 11.1
; @'.)$ @1.5; '.92 '.' Z0 )).)9
@'.9 @'.'5 '.') '.1 NZ?) ))9.9
$ 1.9 9.5$ 2.1; 1.1 <Z?=) 22.9
1' 1.) ).' ).;9 1.;9 NZ0 9)).21
11 '.)1 @'.;1 @'.15 '.'9
1) @'. @1.51 '.5' '.11 NZ0@ZZ8 )$.)91 '.'2 '.'2 '.'' '.'' NZ)@<Z=) 15;.29
19 1.$ '.;; 1.19 1.$
15 '.'$ @'.2$ @'.'2 '.'1 [ ).'$
12 1.1; ).95 ).2 1.2
1; '.' 1.51 '.'5 '.''
1 @'.2$ @'.;$ '.55 '.9
1$ '.2 @1.;2 @1.1$ '.92
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and 3%4C ank/
here the eta "a&ue i# ).'$.Thu# an increa#e in NSE ,hich i# (arket indicator ,i&& ha"e a dou&e
i(pact on the #tock price. 3ere the i(pact of increa#e or decrea#e in (arket ,i&& affect the #tock
price 0 ).'$ point#.
25
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND 4DFC BANK FOR T4E MONT4 OF 5UL60:1;
@9.''
@).''
'.''
).''
9.''
2.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<?=
+eturn of
3%4C<0=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND 4DFC BANK FOR
T4E MONT4 OF AUG60:1;
-ug@19
#.noreturn# of
NSE<?=return of3%4C<0= 8 )
1 @5.$) @9.5$ );.1; 5.'5
) '.)5 @'.;; @'.1$ '.'2
1.'5 '.) '.)9 1.11 Z? @2.'5
9 @1.91 @1.$5 ).;5 1.$$ Z0 @5.'$
5 '.91 '.;$ '. '.1; Z?Z0 '.;$
2 ).92 ).22 2.59 2.'5 Z?) 1').$$
; @1.) @1.; 1.1 1.;9 Z0 .2)
@1.5$ @).1 .92 ).5) NZ?) 1$52.1
$ '.$ '.92 '.9 '.2 <Z?=) 2.5
1' @'.' 1.'2 @'.' '.'1 NZ0 12.;
11 @9. @9.2; )'.95 1$.1;
1) @1.2; @).; .$2 ).' NZ0@ZZ8 125).$51 ).92 9.'1 $.2 2.'9 NZ)@<Z=) 1$)'.))
19 @.1$ @'.2 ).'1 1'.12
15 1.$ 1.)) ).5 .;1 [ '.2
12 @'.$1 @1.59 1.91 '.9
1; 1. @'.)) @'.9' .9
1 ).2 ) 5.; ;.)1
1$ '.9) ).;; 1.12 '.1
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and 3%4C ank/
here the eta "a&ue i# '.2.3ere the eta i# &e## than 1/ and it indicate# that #ecuritie# (o"e# &e##
than the (arket. 3ere the i(pact of increa#e or decrea#e in (arket ,i&& affect the #tock price 0
'.2 point#.
22
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND 4DFC BANK FOR T4E MONT4 OF 5UL60:1;
@1'
@5
'
5
1 5 ; $ 11 1 15 1; 1$+eturn# of NSE<=
+eturn of 3%4C<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ICICI BANK FOR
T4E MONT4 OF APR60:1;
-pr@19
#.noreturn# of
NSE<=return ofICICI<8= 8 )
1 @.$ @;.25 )5.$ 11.9$
) 1.5; .)9 5.'$ ).92
1.12 @).22 @.1' 1.2 Z? .21
9 '.5' 1.2) '.1 '.)5 Z0 5.1$
5 ).99 .59 .2 5.$5 Z?Z0 99.;'
2 '.1) @1.') @'.1) '.'1 Z?) 92.$1
; '. @'.1 @'.1) '.19 Z0 )$.;
@'.5 ).9 @1.$$ '.;) NZ?) $1.)
$ ).) ).5 5.; 5.)) <Z?=) ;9.1;
1' ).95 @).5 @2.)' 2.'1 NZ0 52;.9;
11 @'.;1 '.) @'.19 '.5'
1) '.2; @1.1$ @'.' '.95 NZ0@ZZ8 5)).;;1 @'.5 .' @1.'5 '.1) NZ)@<Z=) 1;.1)
19 ).1 @'.1 @'.$ 9.;9
15 '.15 1.$ '.)$ '.') [ '.29
12 1.$ @'.) @'.) 1.$
1; '.2) '.25 '.9' '.
1 '.)5 '.55 '.19 '.'2
1$ @).)2 1.9 @.' 5.1'
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and ICICI ank/
here the eta "a&ue i# '.29.3ere eta i# &e## than 1/ it (ean# the #ecurit0 ,i&& e &e## "o&ati&e than
the (arket.
2
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND ICICI BANK FOR T4E MONT4 OF APR60:1;
@1'.''
@5.''
'.''
5.''
1 5 ; $ 11 1 15 1; 1$ +eturn# of NSE<=
+eturn of ICICI<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ICICI BANK FOR
T4E MONT4 OF MAY60:1;
Ma0@19
#.noreturn# of
NSE<=return ofICICI<8= 8 )
1 1.25 @5.11 @.9 ).;)
) @'.1 '.5$ @'.9 '.25
@'.15 @).1$ '. '.') Z? 5.'$
9 @'. @'.1 '.' '.2$ Z0 9.11
5 '.'2 @1.) @'.19 '.'' Z?Z0 )'.$1
2 @'.1 '.;9 @'.) '.'$ Z?) 1.$
; '.)9 @1.) @'.)$ '.'2 Z0 @).2;
1.9) 1.19 1.21 ).'' NZ?) )25.2)
$ @'.9 @'.; '.)$ '.11 <Z?=) )5.$'
1' 1.) '.11 '.19 1.51 NZ0 @5'.;5
11 1.1; '.25 '.;2 1.
1) @'.1) .1 @'.; '.'1 NZ0@ZZ8 @;1.2;1 1.1' @'.5 @'.5 1.)1 NZ)@<Z=) )$.;
19 '.9' 1.$ '.;2 '.12
15 @'.;5 .5 @).2; '.52 [ @'.'
12 @'.$; @1.15 1.1) '.$5
1; 1.' 9.1$ 9.1 1.'2
1 '.)' @'.9 @'.1; '.'9
1$ '.2 1.9 1.)1 '.;9
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and ICICI ank/
here the eta "a&ue i# @'.'.3ere the eta i# negati"e it (ean# the #tock in"er#e&0 fo&&o,# the
(arket. The #tock genera&&0 decrea#e# in the "a&ue if (arket goe# up.
2$
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND ICICI BANK FOR T4E MONT4 OF MAY60:1;
@1'
@5
'
5
1 5 ; $ 11 1 15 1; 1$
+eturn# of
NSE<=
+eturn of
ICICI<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
http://slidepdf.com/reader/full/shashanka-systematic-risk-assessment-of-selected-banking-scripsdoc 70/84
CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ICICI BANK FOR
T4E MONT4 OF 5UN60:1;
Fun@19
#.noreturn# of
NSE<=return ofICICI<8= 8 )
1 '.11 @1. @'.15 '.'1
) @'.;' '.1 @'.)) '.9$
'.91 '.21 '.)5 '.1; Z? @'.99
9 @).'' @).$; 5.$5 9.'1 Z0 '.$1
5 @'.99 @'.) '.1' '.1$ Z?Z0 @'.9'
2 @'.;$ @'.2) '.9$ '.2) Z?) 1.1
; '.'1 '.9 '.'1 '.'' Z0 9.9
'.)5 @'.$$ @'.)5 '.'2 NZ?) )5'.
$ @'.$$ 1.2; @1.25 '.$; <Z?=) '.1$
1' 1.9) '.)2 '.; ).') NZ0 ).91
11 '.'5 @'.5$ @'.' '.''
1) @'.5 '.11 @'.'2 '.9 NZ0@ZZ8 ).11 1.2) @1 @1.2) ).2 NZ)@<Z=) )5'.1
19 '.) ).11 1.;) '.22
15 '.99 @1.;2 @'.; '.1$ [ '.
12 @'.2 1.11 @'.9' '.1
1; '.1; ).; '.5' '.'
1 '.2) '.) '.)' '.
1$ @'.51 '.1$ @'.1' '.)2
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and ICICI ank/
here the eta "a&ue i# '..3ere the eta "a&ue i# &e## than 1/ it indicate# that the #tock (o"e# &e##
than the (arket. 3ere the i(pact of increa#e or decrea#e in (arket ,i&& affect the #tock price 0
'. point#.
;'
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND ICICI BANK FOR T4E MONT4 OF 5UN60:1;
@9.''
@).''
'.''
).''
9.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of
NSE<=
+eturn of
ICICI<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ICICI BANK FOR
T4E MONT4 OF 5UL60:1;
Fu&@19
#.noreturn# of
NSE<=return ofICICI<8= 8 )
1 1.1$ @1.5 @1. 1.9)
) 1.') 1.;9 1.;; 1.'
'.'9 1.$$ '.' '.'' Z? .1
9 @'.1) 1. @'.)1 '.'1 Z0 ).)
5 '.;1 @).)1 @1.5; '.51 Z?Z0 1.)
2 '.;$ 1.5 1.)1 '.2) Z?) 11.1
; @'.)$ @).5$ '.;5 '.' Z0 @5.$
@'.9 1.11 @'.9 '.1 NZ?) ))9.9
$ 1.9 '.91 '.55 1.1 <Z?=) 22.9
1' 1.) @).1$ @).$ 1.;9 NZ0 @11).''
11 '.)1 '.$9 '.)' '.'9
1) @'. @) '.2; '.11 NZ0@ZZ8 @1'.)91 '.'2 ).;; '.1; '.'' NZ)@<Z=) 15;.29
19 1.$ @1.)2 @1.;5 1.$
15 '.'$ .95 '.' '.'1 [ @'.
12 1.1; @).5 @. 1.2
1; '.' @'.12 '.'' '.''
1 @'.2$ '.)$ @'.)' '.9
1$ '.2 '.$$ '.2; '.92
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and ICICI ank/
here the eta "a&ue i# @'..3ere the eta "a&ue i# negati"e it (ean# the #tock (o"e# in the
oppo#ite direction of the (arket. 3ere the ri#k i# "er0 high.
CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ICICI BANK FOR
T4E MONT4 OF AUG60:1;
;1
GRAP4ICAL REPRESENTATION OF RETURNS OF
NSE AND ICICI BANK FOR T4E MONT4 OF 5UL60:1;
@9.''
@).''
'.''
).''
9.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<=
+eturn of
ICICI<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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-ug@19
S.no+eturn# of
NSE<=+eturn# of ICICI<8= 8 )
1 '.; @$.2 @2. '.5
) @1.5) @'.2; 1.') ).1
1.91 1.1; 1.25 1.$$ Z? 2.)9 '.1 1.52 '.)1 '.') Z0 @12.9
5 @'.19 @.1) '.)) '.'1 Z?Z0 @1'.5)
2 '.11 @9.'5 @'.99 '.'1 Z?) 1;.1$
; @'.5 ).5 @'.) '.1) Z0 @).2
1.;2 @'.1 @'.)) .' NZ?) )2.2
$ 1.5) 1.2) ).92 ).1 <Z?=) $.9;
1' 1.' @'.11 @'.15 1.;' NZ0 @99.;2
11 @'.)9 '.;2 @'.1 '.'2
1) @'.1) ).51 @'.)$ '.'1 NZ0@ZZ8 5.;2
1 @'.; @5.)5 9.5 '.;2 NZ)@<Z=) );.)1
19 @'.') 1.1 @'.') '.''15 '.1 '.1 '.') '.' [ '.)'
12 @'.;' '.9) @'.)$ '.9$
1; '.55 @5.)$ @).$ '.1
1 1.2 @'.)2 @'.9 ).)
1$ '.' '.1) '.1' '.2
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and ICICI ank/
here the eta "a&ue i# '.)'.Thu#. 3ere the eta i# &e## than 1/ it (ean# #tock (o"e# &e## than the
(arket. 3ere the i(pact of increa#e or decrea#e in (arket ,i&& affect the #tock price 0 '.)'
point#.
CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ICICI BANK FOR
T4E MONT4 OF SEP60:1;
;)
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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Sep@19
S.no+eturn# of
NSE<=+eturn# of ICICI<8= 8 )
1 @'.'5 ).'5 @'.11 '.''
) '.25 @'.; @'.5; '.9
'. '.52 '.)1 '.19 Z? 5.))9 '.1' '.9' '.'9 '.'1 Z0 1.$5
5 @'.) '.;5 @'.)1 '.' Z?Z0 1'.)'
2 @'.52 @'.; '.)1 '.) Z?) 2.$
; '.51 '.22 '. '.)2 Z0 @'.$'
1.'1 '.) '.) 1.') NZ?) 1'.$$
$ '.2 '.95 '.) '.$ <Z?=) );.);
1' '.1$ @'.59 @'.1' '.' NZ0 @1;.19
11 '.); @'.$$ @'.); '.19
1) '.'1 '.1 '.'' '.'' NZ0@ZZ8 @);.
1 @'.2) '.9) @'.)2 '. NZ)@<Z=) 1'.;)
19 '.'$ @1.21 @'.19 '.'115 1.21 '.5) '. ).5$ [ @'.)2
12 '.$ @).' @).19 '.;
1; @'.)9 @'.15 '.' '.'2
1 '.19 1.5 '.)) '.')
1$ '.92 '.$) '.9) '.)1
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and ICICI ank/
here the eta "a&ue i# @'.)2.3ere the eta i# negati"e/ in thi# ca#e ri#k i# "er0 high ecau#e #tock
(o"e# in the oppo#ite direction of the (arket.
CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ING =YSYA BANKFOR T4E MONT4 OF APR60:1;
;
GRAP4ICAL REPRESENTATION OF RETURNS OF NSE AND ICICI BANK FOR T4E MONT4 OF SEP60:1;
@5.''
'.''
5.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<=
+eturn# of ICICI<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
http://slidepdf.com/reader/full/shashanka-systematic-risk-assessment-of-selected-banking-scripsdoc 74/84
-pr@19
#.noreturn# of
NSE<=return ofIN6<8= 8 )
1 @.$ @).$1 $.2 11.9$
) 1.5; @'.2 @1.19 ).92
1.12 1.5 1.5; 1.2 Z? .21
9 '.5' @'.25 @'. '.)5 Z0 ;.295 ).99 @'.59 @1.) 5.$5 Z?Z0 25.'
2 '.1) '.95 '.'5 '.'1 Z?) 92.$1
; '. .2 1.2 '.19 Z0 )2.2)
@'.5 @). 1.$5 '.;) NZ?) $1.)
$ ).) .9; ;.$ 5.)) <Z?=) ;9.1;
1' ).95 ).91 5.$1 2.'1 NZ0 5'5.;
11 @'.;1 ).5 @1.;; '.5'
1) '.2; '.2 '.95 '.95 NZ0@ZZ8 9$.$$
1 @'.5 @).)2 '.;$ '.1) NZ)@<Z=) 1;.1)
19 ).1 @'.9; @1.') 9.;9
15 '.15 1.99 '.)) '.') [ '.59
12 1.$ '.$ 1.2 1.$
1; '.2) '.59 '. '.
1 '.)5 '.12 '.'9 '.'2
1$ @).)2 @'.1 '.)$ 5.1'
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and IN6 78S8-
ank/ here the eta "a&ue i# '.59 and #tock #,ing# &e## than the (arket. 3ere the i(pact of
increa#e or decrea#e in (arket ,i&& affect the #tock price 0 '.59 point#.
;9
GRAP4ICAL REPRESENTATION OF RETURNS OF NSE AND ING =YSYA BANK FOR T4E MONT4 OF APR60:1;
@9.''
@).''
'.''
).''
9.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<=+eturn of IN6<8)
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ING =YSYA BANK
FOR T4E MONT4 OF MAY60:1;
Ma0@19
#.noreturn# of
NSE<=return ofIN6<8= 8 )
1 1.25 ;.); 11.$$ ).;)
) @'.1 ).5 @).' '.25
@'.15 1.2 @'.)5 '.') Z? 5.'$
9 @'. @'. '.) '.2$ Z0 9.$
5 '.'2 @1.2 @'.'$ '.'' Z?Z0 1;;.;5
2 @'.1 ).$ @'.$ '.'$ Z?) 1.$
; '.)9 5.9; 1.) '.'2 Z0 12.9$
1.9) ).$ . ).'' NZ?) )25.2)
$ @'.9 .' @1.'9 '.11 <Z?=) )5.$'
1' 1.) ). ).2 1.51 NZ0 1.$
11 1.1; '.) '.); 1.
1) @'.1) @1.)5 '.15 '.'1 NZ0@ZZ8 15.291 1.1' '.)5 '.) 1.)1 NZ)@<Z=) )$.;
19 '.9' 1.'1 '.91 '.12
15 @'.;5 @'.) '.1; '.52 [ '.5;
12 @'.$; 9.;) @9.5$ '.$5
1; 1.' 5.1 5.92 1.'2
1 '.)' '. '.12 '.'9
1$ '.2 @1.59 @1. '.;9
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and IN6 78S8-
ank/ here the eta "a&ue i# '.5;.3ere the #tock (o"e# a&& (o#t a&& 5'J &e## than the (arket.
3ere the i(pact of increa#e or decrea#e in (arket ,i&& affect the #tock price 0 '.5; point#.
;5
GRAP4ICAL REPRESENTATION OF RETURNS OF NSE
AND ING =YSYA BANK FOR T4E MONT4 OF MAY60:1;
@9.''@).''
'.''
).''9.''
2.''.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<=
+eturn of IN6<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ING =YSYA BANK
FOR T4E MONT4 OF 5UN60:1;
Fun@19
#.noreturn# of
NSE<=return ofIN6<8= 8 )
1 '.11 @.55 @'.$ '.'1
) @'.;' @9.1 ).2 '.9$
'.91 1. '.; '.1; Z? @'.99
9 @).'' @.9 2.2$ 9.'1 Z0 '.;
5 @'.99 @).52 1.1) '.1$ Z?Z0 @'.12
2 @'.;$ @'.91 '.) '.2) Z?) 1.1
; '.'1 1.$) '.' '.'' Z0 1;.1
'.)5 @'.22 @'.1; '.'2 NZ?) )5'.
$ @'.$$ '.$ @'.$ '.$; <Z?=) '.1$
1' 1.9) 1.21 ).)$ ).') NZ0 )2.95
11 '.'5 9.$$ '.)5 '.''
1) @'.5 1.;9 @1.') '.9 NZ0@ZZ8 )2.2)1 1.2) 1.) 1.$$ ).2 NZ)@<Z=) )5'.1
19 '.) ).') 1.25 '.22
15 '.99 1.19 '.9; '.1$ [ 1.1
12 @'.2 @1.; '.2) '.1
1; '.1; @).2 @'.95 '.'
1 '.2) 1.;$ 1.11 '.
1$ @'.51 '.1; @'.'$ '.)2
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and IN6 78S8-
ank/ here the eta "a&ue i# 1.1.3ere the eta i# greater than 1/it indicate# that the #ecuriti0Q#
price ,i&& e (ore "o&ati&e than the (arket/ itQ# theoretica&&0 1J (ore "o&ati&e than the (arket.
;2
GRAP4ICAL REPRESENTATION OF RETURNS OF NSE
AND ING =YSYA BANK FOR T4E MONT4 OF 5UN 60:1;
@5.''
'.''
5.''
1'.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<=
+eturn# of IN6<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ING =YSYA BANK
FOR T4E MONT4 OF 5UL60:1;
Fu&@19
#.noreturn# of
NSE<=return ofIN6<8= 8 )
1 1.1$ @1.1; @1.9' 1.9)
) 1.') '.9 '.99 1.'
'.'9 '.2; '.' '.'' Z? .1
9 @'.1) @.;$ '.99 '.'1 Z0 1.11
5 '.;1 '.9) '.' '.51 Z?Z0 $.'
2 '.;$ ;.)5 5.;1 '.2) Z?) 11.1
; @'.)$ @'.$2 '.) '.' Z0 $.)2
@'.9 @).)) '.$5 '.1 NZ?) ))9.9
$ 1.9 @1.' @1.$ 1.1 <Z?=) 22.9
1' 1.) @'.'2 @'.' 1.;9 NZ0 1;2.')
11 '.)1 @'.$ @'.1$ '.'9
1) @'. @).$9 '.$ '.11 NZ0@ZZ8 122.$51 '.'2 1.) '.11 '.'' NZ)@<Z=) 15;.29
19 1.$ '.$ '.59 1.$
15 '.'$ '.;2 '.19 '.'1 [ 1.'2
12 1.1; '.)$ '.9 1.2
1; '.' @1.)) @'.'9 '.''
1 @'.2$ '.' @'.'2 '.9
1$ '.2 .) ).)) '.92
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and IN6 78S8-
ank/ here the eta "a&ue i# 1.'2.3ere eta i# near&0 eua& to 1/ in thi# #ituation the #tock can
(o"e# ,ith the (arket.
;;
GRAP4ICAL REPRESENTATION OF RETURNS OF NSE
AND ING =YSYA BANK FOR T4E MONT4 OF 5UL 60:1;
@5
'
5
1'
1 5 ; $ 11 1 15 1; 1$
Returns of NSE(X)
Return of ING(Y)
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ING =YSYA BANK
FOR T4E MONT4 OF AUG60:1;
-ug@19
#.noreturn# of
NSE<=return ofIN6<8= 8 )
1 @5.$) @.11 9.'1 5.'5
) '.)5 @'.5 @'.19 '.'2
1.'5 ).95 ).5 1.11 Z? @2.'5
9 @1.91 @1.) 1.2$ 1.$$ Z0 @;.2
5 '.91 @1.1$ @'.9$ '.1; Z?Z0 92.95
2 ).92 . )1.;1 2.'5 Z?) 1').$$
; @1.) @9.9 5.5 1.;9 Z0 $2.;5
@1.5$ @).9 9.51 ).5) NZ?) 1$52.1
$ '.$ ' '.'' '.2 <Z?=) 2.5
1' @'.' @'.51 '.'9 '.'1 NZ0 1.)
11 @9. @1.2 ;.19 1$.1;
1) @1.2; @1.$5 .)2 ).' NZ0@ZZ8 1;$1.21 ).92 @'.) @'.2$ 2.'9 NZ)@<Z=) 1$)'.))
19 @.1$ @1.2 5.5 1'.12
15 1.$ @'.5$ @1.19 .;1 [ '.$
12 @'.$1 9.)$ @.$) '.9
1; 1. @.;5 @2.5 .9
1 ).2 . .$9 ;.)1
1$ '.9) ).12 '.$1 '.1
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and IN6 78S8-
ank/ here the eta "a&ue i# '.$.3ere the #tock #,ing# &e## than the (arket. 3ere the i(pact of
increa#e or decrea#e in (arket ,i&& affect the #tock price 0 '.$ point#.
;
GRAP4ICAL REPRESENTATION OF RETURNS OF NSE
AND ING =YSYA BANK FOR T4E MONT4 OF AUG60:1;
@1'
@5'
5
1'
1 5 7 $ 11 1 15 1; 1$
+eturn# of
NSE<=
+eturn of IN6<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ING =YSYA BANK
FOR T4E MONT4 OF SEP60:1;
Sep@19
#.noreturn# of
NSE<=return ofIN6<8= 8 )
1 .5 .2$ 1.)' 1).;$
) '.11 @1.9 @'.12 '.'1
@'.' @1. '.19 '.'1 Z? 19.$5
9 '.$5 1.$$ 1.$' '.$1 Z0 .9
5 @'.)' @'.; '.1 '.'9 Z?Z0 5).'1
2 '.'2 @1.9; @'.'$ '.'' Z?) 91.;
; @'.)9 '.1 @'.') '.'2 Z0 1.)2
'.'' '.52 '.'' '.'' NZ?) ;$.;2
$ '.;1 '.'9 '.' '.51 <Z?=) )).$
1' @'.)9 1.;5 @'.91 '.'2 NZ0 5$.;
11 @'.5) @).'$ 1.' '.);
1) 1.15 1.9 1.59 1.) NZ0@ZZ8 591.21 9.1' @'.); @1.11 12.; NZ)@<Z=) 5;'.
19 '.) @'.1 @'.' '.1'
15 1.$' '.$ 1.2 .5$ [ '.$5
12 1.$2 2.; 1).9; .
1; '.1 @5.) @'.;$ '.')
1 '.' @'.; @'.') '.''
1$ 1.)) 1.)9 1.51 1.9
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph repre#ent# the eta <#0#te(atic ri#k= et,een NSE and IN6 78S8-
ank/ here the eta "a&ue i# '.$5.3ere the eta "a&ue i# near&0 eua& to 1/ thu# it indicate #tock
(o"e# ,ith the (arket.
;$
GRAP4ICAL REPRESENTATION OF RETURNS OF NSE
AND ING =YSYA BANK FOR T4E MONT4 OF SEP 60:1;
@1'.''
@5.''
'.''
5.''
1'.''
1 5 ; $ 11 1 15 1; 1$
+eturn# of NSE<=
+eturn of IN6<8=
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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BETA =ALUES
MONT3 3%4C ICICI IN6 78S8-
-pr 1.' '.29 '.59
Ma0 '.5 @'.' '.5;
Fun '. '. 1.1Fu& ).'$ @'. 1.'2
-ug '.2 '.)' '.$
Sep 1.11 @'.)2 '.$5
-"erage 1.'2 @'.' '.$
GRAP4ICAL REPRESENTATION
The ao"e ta&e and graph #ho, the eta "a&ue# of 3%4C/ ICICI and IN6 70#0a ank#. 3ere the
a"erage BET- of 3%4C ank i# 1.'2A it (ean# #tock (o"e# ,ith the (arket. The a"erage eta of
The ICICI ank i# @'./ here eta i# negati"e it indicate# the #tock in"er#e&0 fo&&o,# the (arket/
in thi# #ituation genera&&0 #tock price decrea#e# if the (arket goe# up. The a"erage eta of IN6
70#0a ank i# '.$A it indicate# that #ecurit0Q# price ,i&& e &e## "o&ati&e than the (arketA it (ean#
#tock (o"e# &e## than the (arket.
'
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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Conc*u%on
1. %uring thi# period/ the 3%4C ank i# (o"e# ,ith the NSE
). %uring thi# period/ ICICI ank ha"ing a"erage eta i# negati"e eta/ it (ean# the #tock
(o"e# in the oppo#ite direction of the (arket. There i# a high ri#k in thi# ca#e.
. %uring thi# period/ the IN6 70#0a ank #ecurit0Q# &e## "o&ati&e than the (arket/ here the
#tock (o"e# &e## than the (arket.
9. %uring thi# period/ there i# (ore "a&idit0 in +eturn# of Stock and Market.
1
8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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L-t"ton%
1. The data co&&ected i# on&0 fro( #econdar0 #ource.
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8/9/2019 Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc
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