Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc

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

1



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....................................................................................................................................'

)



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.



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.

9



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#.

5



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.

2



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&.

;



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.



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

$



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'



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

11



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)



1



T& Kot"# M"ndr" Grou)

19



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"

15



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

12



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

1;



#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=

1



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.

1$



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#

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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#..

))



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.

)



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



"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



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



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#.

);



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'''.

)



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*.

)$



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

'



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



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

)



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



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



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



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



;



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




T4E MONT4 OF MAY60:1;


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


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




T4E MONT4 OF 5UN60:1;


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



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




T4E MONT4 OF 5UL60:1;


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 ).''



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.


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




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.)) ).)



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#.


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




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



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


#.no %ate C&o#e return <@ar= <@ar=) S%

9


OF 4DFC BANK FOR T4E MONT4 OF SEP60:1;

@5

'

5

1'

1 5 ; $ 11 1 15 1; 1$

Serie#1



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


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




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


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#



95




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



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#



#.no %ate C&o#e return <@ar= <@ar=) S%

92



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.$



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#



#.no %ate C&o#e return <@ar= <@ S%

9;



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.')



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;


1 )@-pr@19 12.) @).$1 @.1 1'.$5

9$



) @-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.;;


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#


FOR T4E MONT4 OF MAY60:1;


5'


ING =YSYA BANK FOR T4E MONT4 OF APR60:1;

@9@@)@1

'1)

9

1 5 ; $ 11 1 15 1; 1$Serie#1



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;



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#


FOR T4E MONT4 OF 5UN60:1;


1 1@Fun@19 )5).; @.55 @.5; 1).;9

51


ING =YSYA BANK FOR T4E MONT4 OF MAY60:1;

@9

@)

'

)

9

2

1 5 ; $ 11 1 15 1; 1$

Serie#1



) 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


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#


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)


ING =YSYA BANK FOR T4E MONT4 OF 5UN60:1;

@2

@9

@)

'

)

9

2

1 5 ; $ 11 1 15 1; 1$Serie#1



) @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



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#


FOR T4E MONT4 OF AUG60:1;


1 1@-ug@19 )91.$ @.11 @;.;1 5$.99

5


ING =YSYA BANK FOR T4E MONT4 OF 5UL60:1;

@2

@9

@)

'

)

9

2

1 5 ; $ 11 1 15 1; 1$

Serie#1



) )@-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)



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#


FOR T4E MONT4 OF SEP60:1;


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


ING =YSYA BANK FOR T4E MONT4 OF AUG60:1;

@1'

@5

'

5

1'

1 5 ; $ 11 1 15 1; 1$Serie#1



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



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


ING =YSYA BANK FOR T4E MONT4 OF SEP60:1;

@@2@9@)')

92

1 5 ; $ 11 1 15 1; 1$Serie#1



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'


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


OF NSE FOR T4E MONT4 OF APR60:1;

@9

@)

'

)

9

1 5 ; $ 11 1 15 1; 1$

Serie#1




MONT4 OF MAY60:1;


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



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;


OF NSE FOR T4E MONT4 OF MAY60:1;

@)

@1

'

1

)

1 5 ; $ 11 1 15 1; 1$

Serie#1




MONT4 OF 5UN60:1;


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$ '.



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


OF NSE FOR T4E MONT4 OF 5UN60:1;

@

@)

@1

'

1

)

1 5 ; $ 11 1 15 1; 1$Serie#1




MONT4 OF 5UL60:1;


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



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$


OF NSE FOR T4E MONT4 OF 5UL60:1;

@1.''

@'.5'

'.''

'.5'

1.''

1.5'

1 5 ; $ 11 1 15 1; 19

Serie#1




MONT4 OF AUG60:1;


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.) ).'



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'


OF NSE FOR T4E MONT4 OF AUG60:1;

@1'

@5

'

5

1 5 ; $ 11 1 15 1; 1$Serie#1



CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND 4DFC BANK FOR


-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'


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)


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=





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


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


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=





Fun@19

#.noreturn# of


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



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


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=





Fu&@19

#.noreturn# of


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



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


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=





-ug@19

#.noreturn# of


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



here the eta "a&ue i# '.2.3ere the eta i# &e## than 1/ and it indicate# that #ecuritie# (o"e# &e##


'.2 point#.

22


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=



CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ICICI BANK FOR


-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'


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


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=





Ma0@19

#.noreturn# of


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



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$


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=





Fun@19

#.noreturn# of


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



here the eta "a&ue i# '..3ere the eta "a&ue i# &e## than 1/ it indicate# that the #tock (o"e# &e##


'. point#.

;'


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=





Fu&@19

#.noreturn# of


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



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.



;1


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=



-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



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#.


T4E MONT4 OF SEP60:1;

;)



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



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=



-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'


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)



CALCULATION OF RISK ANALYSIS 7 8 BETEEN NSE AND ING =YSYA BANK

FOR T4E MONT4 OF MAY60:1;

Ma0@19

#.noreturn# of


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



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=




FOR T4E MONT4 OF 5UN60:1;

Fun@19

#.noreturn# of


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



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


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=




FOR T4E MONT4 OF 5UL60:1;

Fu&@19

#.noreturn# of


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



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.

;;


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)




FOR T4E MONT4 OF AUG60:1;

-ug@19

#.noreturn# of


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



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#.

;


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=




FOR T4E MONT4 OF SEP60:1;

Sep@19

#.noreturn# of


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



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.

;$


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=



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 @'.' '.$


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.

'



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



L-t"ton%

1. The data co&&ected i# on&0 fro( #econdar0 #ource.

). The data ,hich i# co&&ected for doing thi# report fro( Internet We#ite# ,here there can e

#o(e hitche#.

. The Ti(e period for doing the data ana&0#i# ha# een taken fro( -pr@)'19 to Sep@)'19.

)



M&todo*o$,

Where/

N \ No. of %a0#

\ Market +eturn# <NSE Nift0=

8 \ Stock +eturn# <3%4C/ ICICI/ IN6 70#0a ank=

+eturn# \

Current C&o#e Pre"iou# C&o#e

? 1''

Pre"iou# C&o#e

Beta \

N Z?0 @ Z?Z0

N Z?) <Z?= )

Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc

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Transcript of Shashanka SYSTEMATIC RISK ASSESSMENT OF SELECTED BANKING SCRIPS.doc