097330592022

Shareholding pattern & volatility of stock
A PROJECT REPORT ON
SHARE HOLDING PATTERN AND VOLATILITY OF STOCK
Prepared by: JAINEEK SHAH Enroll no.- 097330592022 & HITENDRA RATHOD
Enroll no.:-097330592030
Guided by: PROF. DIVYANG JOSHI ( FACULTY OF SGPIMS)
Late Smt. Shardaben Ghanshyambhai Patel Institute of Management Studies, Dharmaj
Declaration
We, Jaineek Shah & Hitendra Rathod hereby declare that the Project Report titled SHARE HOLDING PATTERN AND VOLATILITY OF STOCK is a result of our own work and our indebtedness to other work publications, if any, have been duly acknowledged.
Place: S.G.P.I.M. Dharmaj
Jaineek Shah (Roll.No 22)
Date :
Hitendra Rathod (Roll.No 30)
Certificate
Certificate by Institute
This is to certify that the contents of this report entitled SHARE HOLDING PATTERN AND VOLATILITY OF STOCK by Jaineek Shah &Hitendra Rathod submitted to Late Smt. Shardaben Ghanshyambhai Patel Institute of Management Studies (MBA Sem-IV) is original research work carried out by them under supervision of Prof. Divyang Joshi.
This report has not been submitted either partly or fully to any other University or Institute for award of any degree or diploma.
Mr. M. R. Brahmchari Principal Late Smt. S. G. Patel Institute of Management Studies Dharmaj, Anand.
Date: Place: Dharmaj
PREFACE
Today a stiff competition is seen in the economy, Now, the Present scenario of the business world is quite different from the past. Ethics, Conflicts, new ideologies, new ideologies, energy scarcities and crazy dogmas are just. The few of the characteristics that make the present quite different from the past.
In order to cope up in the ever-changing environment, the knowledge of all business worlds is a need today. M.B.A. programs and management institution provide a global manager to this modern business world. But only knowledge is not enough for the business But successful implementation of the know s the key to success.
Hence in order to get acquainted with the practical knowledge each student is required to implement the theoretical aspects of the subject in to the practical life work.
We referred so many magazines, web sites, books and newspapers for The study purpose. This project will be fruitful for us in the future also. We are presenting this report, which comprise of secondary data and to out best knowledge it is true and fair.
ACKNOWLEDGEMENT
I wish to express my sincere gratitude to Prof. DIVYANG JOSHI professor of S.G.P.I.M College for providing me an opportunity to do my project work on share holding pattern and volatility of stock This project bears on imprint of many peoples. I sincerely thank to my project guide Mr. DIVYANG JOSHI, faculty of SGPIMS for guidance and encouragement in carrying out this project work. I also wish to express my gratitude to the officials and other staff members of GUJARAT TECHNOLOGICAL UNIVERSITY who introduced such a practical program which guide the students in the practical field as well as to give their opinion about the overall project.
Last but not least I wish to avail myself of this opportunity, express a sense of gratitude and love to my friends and my beloved parents for their manual support, strength and help and for everything.
Jaineek Shah (22) Hitendra Rathod (30)
EXECUTIVE SUMMARY
I have got an opportunity to do my comprehensive project in SHAREHOLDING PATTERN & VOLATILITY OF STOCK which was guided by Prof. DIVYANG JOSHI faculty of SGPIMS. Objective of preparing project report subjected on SHAREHOLDING PATTERN & VOLATILITY OF STOCK gives complete Review and analysis of shareholding pattern of the various companies included in the SENSEX & the volatility of their various stocks. The initial part of this report contains the brief information about the SENSEX, its stock selection criterias, the information about the free float methodology & how to calculate the free float methodology. The core project areas, which have been focused, are impact of shareholding pattern in to price volatility. First I have discussed about the conceptual framework of share holding pattern then the conceptual frame work of volatility. We have firstly listed out all the 30 companies data about the shareholding pattern and then make an avg. of it and then we find the year volatility of the various prices of individual stocks and then find out the correlation and regression between the shareholding and volatility.
Table of content
Sr. no 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18
Topics INTRODUCTION TO STOCK MARKET ABOUT THE BOMBAY STOCK EXCHANGE ABOUT THE SENSEX ABOUT THE S&P CNX NIFTY 50 SHAREHOLDING PATTERN FORMAT OF SHAREHOLDING PATTERN INTRODUCTION TO VOLATILITY ESTIMATION OF VOLATILITY AND THEIR VARIOUS MODELS LITERATURE REVIEW RESEARCH METHODOLOGY HYPOTHESIS RESEARCH METHODS SAMPLE AND DATA DATA ANALYSIS FINDINGS CONCLUSION BIBILIOGRAPHY ANNEXTURE
Pg. no. 08 10 13 19 22 27 34 37 40 41 42 43 45 46 61 62 63 64
Introduction of stock market

A stock market is a place where different kinds of securities are traded in the secondary market and in the primary market. The whole stock market is regulated by the SEBI that is security exchange board of India. So the combination of primary and secondary market is called capital market. So, capital market is an important constituent of the financial system. It is a market for long-term-for both equity and debt and fund rose within and outside the country. The capital market aids economic growth by mobilizing the savings of the economic sectors and directing the same towards channels of productive use. This is facilitated through the following measures: Issue of primary securities in the primary market i.e. IPO Issue of the secondary securities in the primary market i.e. FPO Secondary market transaction in outsourcing securities which facilitates liquidity.
The Indian stock market
The Indian stock market today is actually comprised of two key entities and over 20 other exchanges. These 2 primary entities are the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE). There is an interesting past history regarding where the two markets originated from. During the 1850's, the first stock exchange in India was established when the East India Company created and developed a "community" of brokers. By 1860, there were already 60 broker members of the exchange. As of 1874 and the results of a rapidly expanding share trading industry, these brokers gathered regularly (at a well-know location which is now known as Dalal Street) in order to conduct their business. Stockbrokers began gathering in front of Mumbai's Town Hall, conducting there meeting underneath Banyan trees, and the Indian stock market was born.
Although there are actually over 20 different stock exchanges in India today, but the two most powerful ones are the two mentioned above. The Bombay Stock Exchange Limited oftentimes referred to as the BSE, was originally established in 1875. Interestingly enough, it is the oldest stock market on the entire Asian continent that has been operating since the very beginning. Today there are over 4,700 companies listed on the BSE as well as over 7,700 stock exchange scripts. The National Stock Exchange of India Limited, or NSE as it is called, is an Indian stock market based in the city of Mumbai and was originally established only 18 years ago in 1992. In that short period of time, it has grown to nearly 1,600 company listings and has a current market capitalization of 47, 01,923 Rupees (Wikipedia). It was predicted that the NSE would be the largest stock exchange in India where market capitalization was considered when 2009 ended. Up until the 1980s there were no way to measure or scale the ups and downs in stock values. However, in 1986, the BSE implemented SENSEX, which was a stock index. Three years later, India witnessed the launch of the BSE National Index. It was renamed the BSE-100 Index in October of 1996 because it was comprised of 100 different stocks listed with India's 5 major stock exchanges. These 5 major markets were Ahmadabad, Calcutta, Delhi, Madras, and Mumbai. Additionally, the dollar-linked version of the BSE-100 was launched in May of 2006. Numerous banks, financial intermediaries, insurance companies, and leading financial institutions mutually own the NSE. However, the entities of management and ownership are completely separate entities. Interestingly enough, 2 of the NSE's foreign investors have taken a serious position in the NSE - Goldman Sachs and NYSE Euro next.
Bombay stock Exchange
Bombay Stock Exchange is the oldest stock exchange in Asia What is now popularly known as the BSE was established as "The Native Share & Stock Brokers' Association" in 1875. Over the past 135 years, BSE has facilitated the growth of the Indian corporate sector by providing it with an efficient capital raising platform. Today, BSE is the world's number 1 exchange in the world in terms of the number of listed companies (over 4900). It is the world's 5th most active in terms of number of transactions handled through its electronic trading system. And it is in the top ten of global exchanges in terms of the market capitalization of its listed companies (as of December 31, 2009). The companies listed on BSE command a total market capitalization of USD Trillion 1.28 as of Feb, 2010. BSE is the first exchange in India and the second in the world to obtain an ISO 9001:2000 certifications. It is also the first Exchange in the country and second in the world to receive Information Security Management System Standard BS 7799-2-2002 certification for its BSE On-Line trading System (BOLT). Presently, we are ISO 27001:2005 certified, which is a ISO version. The BSE Index, SENSEX, is India's first and most popular Stock Market benchmark index. Exchange traded funds (ETF) on SENSEX, are listed on BSE and in Hong Kong. BSE continues to innovate: Became the first national exchange to launch its website in Gujarati and Hindi and now Marathi Purchased of Marketplace Technologies in 2009 to enhance the in-house technology development capabilities of the BSE and allow faster time-to-market for new products Launched a reporting platform for corporate bonds christened the ICDM or Indian Corporate Debt Market Acquired a 15% stake in United Stock Exchange (USE) to drive the development and growth of the currency and interest rate derivatives markets Launched 'BSE STAR MF' Mutual fund trading platform, which enables exchange members to use its existing infrastructure for transaction in MF schemes.
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BSE now offers AMFI Certification for Mutual Fund Advisors through BSE Training Institute (BTI) Co-location facilities for Algorithmic trading BSE also successfully launched the BSE IPO index and PSU website BSE revamped its website with wide range of new features like 'Live streaming quotes for SENSEX companies', 'Advanced Stock Reach', 'SENSEX View', 'Market Galaxy', and 'Members' Launched 'BSE SENSEX MOBILE STREAMER'
With its tradition of serving the community, BSE has been undertaking Corporate Social Responsibility (CSR) initiatives with a focus on Education, Health and Environment. BSE has been awarded by the World Council of Corporate Governance the Golden Peacock Global CSR Award for its initiatives in Corporate Social Responsibility (CSR). Other Awards: The Annual Reports and Accounts of BSE for the year ended March 31, 2006 and March 31, 2007 have been awarded the ICAI awards for excellence in financial reporting. The Human Resource Management at BSE has won the Asia - Pacific HRM awards for its efforts in employer branding through talent management at work, health management at work and excellence in HR through technology Drawing from its rich past and its equally robust performance in the recent times, BSE will continue to remain an icon in the Indian capital market. BSE INDICES For the premier stock exchange that pioneered the securities transaction business in India, over a century of experience is a proud achievement. A lot has changed since 1875 when 318 persons by paying a then princely amount of Re. 1, became members of what today is called Bombay Stock Exchange Limited (BSE).
Over the decades, the stock market in the country has passed through good and bad periods. The journey in the 20th century has not been an easy one. Till the decade of eighties, there was no measure or scale that could precisely measure the various ups and downs in the Indian stock market. BSE, in 1986, came out with a Stock Index-SENSEX- that subsequently became the barometer of the Indian stock market.
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The launch of SENSEX in 1986 was later followed up in January 1989 by introduction of BSE National Index (Base: 1983-84 = 100). It comprised 100 stocks listed at five major stock exchanges in India - Mumbai, Calcutta, Delhi, Ahmadabad and Madras. The BSE National Index was renamed BSE-100 Index from October 14, 1996 and since then, it is being calculated taking into consideration only the prices of stocks listed at BSE. BSE launched the dollar-linked version of BSE-100 index on May 22, 2006.
With a view to provide a better representation of the increasing number of listed companies, larger market capitalization and the new industry sectors, BSE launched on 27th May, 1994 two new index series viz., the 'BSE-200' and the 'DOLLEX-200'. Since then, BSE has come a long way in attuning itself to the varied needs of investors and market participants. In order to fulfill the need for still broader, segment-specific and sector-specific indices, BSE has continuously been increasing the range of its indices. BSE-500 Index and 5 sectoral indices were launched in 1999. In 2001, BSE launched BSE-PSU Index, DOLLEX-30 and the country's first free-float based index - the BSE TECk Index. Over the years, the BSE shifted all its indices to the freefloat methodology (except BSE-PSU index). BSE disseminates information on the Price-Earnings Ratio, the Price to Book Value Ratio and the Dividend Yield Percentage on day-to-day basis of all its major indices. The values of all BSE indices are updated on real time basis during market hours and displayed through the BOLT system, BSE website and news wire agencies. All BSE Indices are reviewed periodically by the BSE Index Committee. This Committee which comprises eminent independent finance professionals frames the broad policy guidelines for the development and maintenance of all BSE indices. The BSE Index Cell carries out the day-to-day maintenance of all indices and conducts research on development of new indices.
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About the SENSEX:-
Sensex refers to the sensitivity index and is generally associated with the stock market indices. The sensex is an index. An index is basically an indicator. It gives you a general idea about whether most of the stocks have gone up or most of the stock gone down. The sensex is an indicator of all the major companies of the BSE. If the sensex goes up, it means that the prices of the stocks of most of the major companies on the bsc have gone up. If the sensex goes down, this indicate that the stock price of most of the major stocks on the bse have gone down. The 'BSE SENSEX' is a value-weighted index composed of 30 stocks and was started in January 1, 1986. The Sensex is regarded as the pulse of the domestic stock markets in India. It consists of the 30 largest and most actively traded stocks, representative of various sectors, on the Bombay Stock Exchange. These companies account for around fifty per cent of the market capitalization of the BSE. The base value of the sensex is 100 on April 1, 1979, and the base year of BSESENSEX is 1978-79. At regular intervals, the Bombay Stock Exchange (BSE) authorities review and modify its composition to be sure it reflects current market conditions. The index is calculated based on a free float capitalization method; a variation of the market cap method. Instead of using a company's outstanding shares it uses its float, or shares that are readily available for trading. The free-float method, therefore, does not include restricted stocks, such as those held by promoters, government and strategic investors. Initially, the index was calculated based on the full market capitalization method. However this was shifted to the free float method with effect from September 1, 2003. Globally, the free float market capitalization is regarded as the industry best practice. As per free float capitalization methodology, the level of index at any point of time reflects the free float market value of 30 component stocks relative to a base period. The Market Capitalization of a company is determined by multiplying the price of its stock by the number of shares issued by the company. This Market capitalization is multiplied by a free float factor to
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determine the free float market capitalization. Free float factor is also referred as adjustment factor. Free float factor represent the percentage of shares that are readily available for trading. The Calculation of Sensex involves dividing the free float market capitalization of 30 companies in the index by a number called Index divisor. The Divisor is the only link to original base period value of the Sensex. It keeps the index comparable over time and is the adjustment point for all Index adjustments arising out of corporate actions, replacement of scrips, etc.
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Calculation methodology:SENSEX is calculated using the 'Free-float Market Capitalization' methodology, wherein, the level of index at any point of time reflects the free-float market value of 30 component stocks relative to a base period. The market capitalization of a company is determined by multiplying the price of its stock by the number of shares issued by the company. This market capitalization is further multiplied by the free-float factor to determine the free-float market capitalization. The base period of SENSEX is 1978-79 and the base value is 100 index points. This is often indicated by the notation 1978-79=100. The calculation of SENSEX involves dividing the freefloat market capitalization of 30 companies in the Index by a number called the Index Divisor. The Divisor is the only link to the original base period value of the SENSEX. It keeps the Index comparable over time and is the adjustment point for all Index adjustments arising out of corporate actions, replacement of scripts etc. During market hours, prices of the index scrips, at which latest trades are executed, are used by the trading system to calculate SENSEX on a continuous basis. Script selection criteria:The general guidelines for selection of constituents in SENSEX are as follows:
Equities of companies listed on Bombay Stock Exchange Ltd. (excluding companies classified in Z group, listed mutual funds, scripts suspended on the last day of the month prior to review date, scripts objected by the Surveillance department of the Exchange and those that are traded under permitted category) shall be considered eligible. Listing History: The scrip should have a listing history of at least three months at BSE. An exception may be granted to one month, if the average free-float market capitalization of a newly listed company ranks in the top 10 of all companies listed at BSE. In the event that a company is listed on account of a merger / demerger / amalgamation, a minimum listing history is not required. The scrip should have been traded on each and every trading day in the last three months at BSE. Exceptions can be made for extreme reasons like scrip suspension etc. Companies that have reported revenue in the latest four quarters from its core activity are considered eligible. From the list of constituents selected through Steps 1-4, the top 75 companies based on free-float market capitalization (avg. 3 months) are selected as well as any additional companies that are in the top 75 based on full market capitalization (avg. 3 months). The filtered list of constituents selected through Step 5 (which can be greater than 75 companies) is then ranked on absolute turnover (avg. 3 months). Any company in the filtered, sorted list created in Step 6 that has Cumulative Turnover of >98%, are excluded, so long as the remaining list has more than 30 scripts.
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The filtered list calculated in Step 7 is then sorted by free float market capitalization. Any company having a weight within this filtered constituent list of <0.50% shall be excluded. All remaining companies will be sorted on sector and sub-sorted in the descending order of rank on free-float market capitalization. Industry/Sector Representation: Scrip selection will generally attempt to maintain index sectored weights that are broadly in-line with the overall market. Track Record: In the opinion of the BSE Index Committee, all companies included within the SENSEX should have an acceptable track record. Understanding the free float methodology: Free-float methodology refers to an index construction methodology that takes into consideration only the free-float market capitalization of a company for the purpose of index calculation and assigning weight to stocks in the index. Free-float market capitalization takes into consideration only those shares issued by the company that are readily available for trading in the market. It generally excludes promoters' holding, government holding, strategic holding and other locked-in shares that will not come to the market for trading in the normal course. In other words, the market capitalization of each company in a free-float index is reduced to the extent of its readily available shares in the market. Subsequently all BSE indices with the exception of BSE-PSU index have adopted the free-float methodology. Definition of free float :Shareholding of investors that would not, in the normal course come into the open market for trading are treated as 'Controlling/ Strategic Holdings' and hence not included in free-float. Specifically, the following categories of holding are generally excluded from the definition of Free-float: Shares held by founders/directors/ acquirers which has control element Shares held by persons/ bodies with 'Controlling Interest' Shares held by Government as promoter/acquirer Holdings through the FDI Route Strategic stakes by private corporate bodies/ individuals Equity held by associate/group companies (cross-holdings) Equity held by Employee Welfare Trusts Locked-in shares and shares which would not be sold in the open market in normal course.
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Major advantages of free float methodology:
A Free-float index reflects the market trends more rationally as it takes into consideration only those shares that are available for trading in the market. Free-float Methodology makes the index more broad-based by reducing the concentration of top few companies in Index. A Free-float index aids both active and passive investing styles. It aids active managers by enabling them to benchmark their fund returns vis- -vis an investible index. This enables an apple-to-apple comparison thereby facilitating better evaluation of performance of active managers. Being a perfectly replicable portfolio of stocks, a Freefloat adjusted index is best suited for the passive managers as it enables them to track the index with the least tracking error. Free-float Methodology improves index flexibility in terms of including any stock from the universe of listed stocks. This improves market coverage and sector coverage of the index. For example, under a Full-market capitalization methodology, companies with large market capitalization and low free-float cannot generally be included in the Index because they tend to distort the index by having an undue influence on the index movement. However, under the Free-float Methodology, since only the free-float market capitalization of each company is considered for index calculation, it becomes possible to include such closely-held companies in the index while at the same time preventing their undue influence on the index movement. Globally, the Free-float Methodology of index construction is considered to be an industry best practice and all major index providers like MSCI, FTSE, S&P and STOXX have adopted the same. MSCI, a leading global index provider, shifted all its indices to the Free-float Methodology in 2002. The MSCI India Standard Index, which is followed by Foreign Institutional Investors (FIIs) to track Indian equities, is also based on the Freefloat Methodology. NASDAQ-100, the underlying index to the famous Exchange Traded Fund (ETF) - QQQ is based on the Free-float Methodology.
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The various stocks in the BSE and their total weightage

SENSEX
Composition Revised From Free-Float Adjustment Factor revised from Adj. Factor 0.50 0.35 0.35 0.65 0.25 0.80 0.50 0.70 0.50 0.90 1.00 0.85 0.70 0.55 0.45 0.90 0.75 0.50 0.20 0.20 0.35 0.55 0.60 0.45 0.50 0.30 0.65 0.70 0.70 0.25
Code 532977 500103 532454 500087 532868 500180 500182 500440 500696 500010 532174 500209 500875 532532 532286 500510 500520 532500 532555 500312 532712 500325 500390 500112 500900 532540 500570 500400 500470 507685
Name Bajaj Auto Limited Bharat Heavy Electricals Ltd. Bharti Airtel Ltd. Cipla Ltd. DLF Ltd. HDFC Bank Ltd. Hero Honda Motors Ltd. Hindalco Industries Ltd. Hindustan Unilever Ltd. HDFC ICICI Bank Ltd. Infosys Technologies Ltd. ITC Ltd. Jaiprakash Associates Ltd. Jindal Steel & Power Ltd. Larsen & Toubro Limited Mahindra & Mahindra Ltd. Maruti Suzuki India Ltd. NTPC Ltd. ONGC Ltd. Reliance Communications Limited Reliance Industries Ltd. Reliance Infrastructure Ltd. State Bank of India Sterlite Industries (India) Ltd. Tata Consultancy Services Limited Tata Motors Ltd. Tata Power Company Ltd. Tata Steel Ltd. Wipro Ltd.
Sector Transport Equipments Capital Goods Telecom Healthcare Housing Related Finance Transport Equipments Metal,Metal Products & Mining FMCG Finance Finance Information Technology FMCG Housing Related Metal,Metal Products & Mining Capital Goods Transport Equipments Transport Equipments Power Oil & Gas Telecom Oil & Gas Power Finance Metal,Metal Products & Mining Information Technology Transport Equipments Power Metal,Metal Products & Mining Information Technology
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About The S&P CNX NSE Nifty 50
The S&P CNX Nifty (Nifty 50 or simply Nifty) is a composite of the top 50 stocks listed on the National Stock Exchange (NSE), representing 24 different sectors of the economy. It is a simplified tool that helps investors and ordinary people alike, to understand what is happening in the stock market and by extension, the economy. If the Nifty Index performs well, it is a signal that companies in India are performing well and consequently that the country is doing well. An upbeat economy is usually reflected in a strong performance of the Nifty Index. A rising index is also indicative that the investors are bullish about the future. The Nifty Index is based upon solid economic research. It is internationally respected and recognized as a pioneering effort in providing simpler understanding of stock market complexities. Nifty is the flagship index of NSE, the 3rd largest stock exchange in the world in terms of number of transactions (Stock Futures). Ownership and Management Nifty was developed by the economists Ajay Shah and Susan Thomas, then at IGIDR. Later on, it came to be owned and managed by India Index Services and Products Ltd. (IISL), which is a joint venture between NSE and CRISIL. IISL is Indias first specialized company focused upon the index as a core product. IISL have a consulting and licensing agreement with Standard & Poors (who are world leaders in index services.) CNX stands for CRISIL NSE Indices. CNX ensures common branding of indices, to reflect the identities of both the promoters, i.e. NSE and CRISIL. Thus, C stands for CRISIL, N stands for NSE and X stands for Exchange or Index. The S&P prefix belongs to the US-based Standard & Poors Financial Information Services. It is calculated as a weighted average, so changes in the share price of larger companies have more effect. The base is defined as 1000 at the price level of November 3, 1995 Criteria for inclusion of Stock in Nifty50 Average market capitalization of Rs.5,000 million or more during the last six months. Liquidity: Cost of transaction (impact cost) of less than 0.75% for more than 90% of trades, over six months. At least 12% floating stock (not held by promoters of the company or their associates)
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The various stocks in the Nifty and their total weightage

Stock NSE Code Share % Weightage
RELIANCE INFOSYSTCH ICICIBANK LT ITC HDFC HDFCBANK SBIN TCS ONGC BHARTIARTL BHEL AXISBANK TATASTEEL STER M&M TATAMOTORS HINDUNILVR NTPC JINDALSTEL IDFC TATAPOWER HINDALCO WIPRO GAIL
Reliance Industries Ltd. Infosys Technologies Ltd. ICICI Bank Ltd. Larsen & Toubro Ltd. I T C Ltd. Housing Development Finance Corporation Ltd. HDFC Bank Ltd. State Bank of India Tata Consultancy Services Ltd. Oil & Natural Gas Corporation Ltd. Bharti Airtel Ltd. Bharat Heavy Electricals Ltd. Axis Bank Ltd. Tata Steel Ltd. Sterlite Industries (India) Ltd. Mahindra & Mahindra Ltd. Tata Motors Ltd. Hindustan Unilever Ltd. NTPC Ltd. Jindal Steel & Power Ltd. Infrastructure Development Finance Co. Ltd. Tata Power Co. Ltd. Hindalco Industries Ltd. Wipro Ltd. GAIL (India) Ltd.
10.95 8.65 6.59 6.22 5.16 4.92 4.69 4.04 2.74 2.67 2.46 2.44 2.17 2.06 1.82 1.74 1.74 1.72 1.63 1.53 1.38 1.38 1.33 1.33 1.3
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CIPLA HEROHONDA MARUTI RELINFRA CAIRN PNB JPASSOCIAT SUNPHARMA KOTAKBANK RCOM SAIL UNITECH DLF SIEMENS AMBUJACEM RELCAPITAL ABB ACC BPCL HCLTECH RANBAXY RPOWER POWERGRID IDEA SUZLON
Cipla Ltd. Hero Honda Motors Ltd. Maruti Suzuki India Ltd. Reliance Infrastructure Ltd. Cairn India Ltd. Punjab National Bank Jaiprakash Associates Ltd. Sun Pharmaceutical Industries Ltd. Kotak Mahindra Bank Ltd. Reliance Communications Ltd. Steel Authority of India Ltd. Unitech Ltd. DLF Ltd. Siemens Ltd. Ambuja Cements Ltd. Reliance Capital Ltd. ABB Ltd. ACC Ltd. Bharat Petroleum Corporation Ltd. HCL Technologies Ltd. Ranbaxy Laboratories Ltd. Reliance Power Ltd. Power Grid Corporation of India Ltd. Idea Cellular Ltd. Suzlon Energy Ltd.
1.06 1.06 1.01 1.01 0.92 0.89 0.87 0.85 0.84 0.78 0.77 0.73 0.71 0.69 0.63 0.56 0.55 0.54 0.53 0.52 0.43 0.39 0.37 0.35 0.3
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Share holding pattern
Meaning of Share holding :It refers to the composition of those institutions and persons holding the shares of the company. It is mandatory for every company to disclose the share holding pattern in its annual report of the company. This share holding pattern gives the idea regarding the liquidity of that company stock. When promoter have major stake we can fairly sure that the company is doing good because promoter are the first person to know the inside story of the company. The moment the promoter stake start decreasing, it is signal that they are diluting their investment and so we need to look carefully in to the reasons for dilution.
Importance of shareholding pattern: To reduce the managerial opportunism To proper liquidity of the companys share To reduce the speculation in the stock market. To fulfill the requirement of the SEBI. Make sure that proper corporate governance is there.
Types of shareholding pattern:There are basically two types of share holding pattern that is:1. CONTROLLING/STRATEGIC HOLDINGS 2. FREE FLOAT
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1. CONTROLLING/STRATEGIC HOLDINGS:A. BASED IN INDIA 1. Indian Individuals/HUFs & Relatives All Indian individuals/ HUFs and their relatives who promoted/ founded the company and/ or who acquired the company, and are presently in 'control' of the company. All Promoters Quota shares presently under lock-in should also be included. (The term 'Relatives' is defined as per the Companies Act.) 2. Indian Corporate Bodies/ Trusts/ Partnerships All Indian corporate bodies/ trusts/ partnership or any other type of organizations which promoted/ founded the company and/ or who acquired the company, and are presently in 'control' of the company. All Promoters Quota shares presently under lock-in should also be included. 3. Persons Acting in Concert All individuals/ organizations/ suppliers/ customers who are presently in concert with the "Controlling" body in acquiring shares of the company, and are likely to vote along with the "Controlling" body (To also include all PACs so named in an acquisition, if any, made under SEBI's Takeover Regulations who are likely to vote along with the "Controlling" body). 4. Other Directors & Relatives Directors who are exercising 'control', and all of their relatives, except those covered under 1 to 3 above. Any director who will not vote in concert with the "controlling" entity should be excluded. (The term Relatives is defined as per the Companies Act.) 5. Employee Welfare Trusts/ESOPs (converted into shares but locked-in) All holdings in the name of Employees Welfare Trusts as also shares allotted to employees under ESOP, which are presently under lock-in. 6. Banks/Financial Institutions Banks (scheduled, co-operative, rural, private, foreign etc.) and financial institutions, with a controlling interest. 7. Central/ State Govt. Direct shareholding of the Central Government or of any State Government, with a controlling interest. 8. Central/ State Govt. Institutions Shareholding of any organization/ undertaking/ enterprise/ institution, which is controlled by the Central Government, or any State Government, with a controlling interest. 9. Venture Funds/ Private Equity Funds Venture funds/ private equity funds, irrespective of registration with SEBI, with a controlling interest.
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B. BASED OVERSEAS 1. Foreign Individuals (including FDI) All foreign individuals who hold shares with controlling interest, including FDIs. 2. Foreign Corporate Bodies (including FDI) All foreign corporate bodies who hold shares with controlling interest, including FDIs. 3. Non-Resident Indians (Individuals) All NRI (individuals) who hold shares with a controlling interest. 4. Non Resident Indian Corporate Bodies All NRI-owned corporate bodies who hold shares with a controlling interest. C. GDRs/ADRs/ ADSs All underlying shares of GDRs/ ADRs/ ADSs or any other foreign depository receipt, with a controlling interest. D. OTHERS Any other category of shareholders, not listed above, with a controlling interest E. ANY OTHER SHARES LOCKED-IN All shares, which have a lock-in, should be covered in category A to D above. If such shares cannot be classified in any of the above category, then these should be listed here. II. FREE FLOAT:-
A. BASED IN INDIA:1. Indian Individuals/HUFs Shares held by the Indian Individuals/ HUFs, without any controlling interest. 2. Indian Corporate Bodies/Trusts/Partnerships Shares held by Indian corporate bodies/ trusts/ partnership or any other type of organization, not in 'control of the Company' 3. Independent Directors & Relatives Independent Directors and all of their relatives. 4. Present Employees Shares allotted to present employees on a preferential allotment basis, not carrying any lock-in. 5. Banks/Financial Institutions Shares held by banks (scheduled, co-operative, rural, private, foreign etc) and financial institution, as an investment. 6. Central/State Govt. Shareholding of the Central Government or of any State Government, as an investment.
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7. Central/ State Govt. Institutions Shareholding of any organization/ undertaking/ enterprise/ institution, which is controlled by the Central Government or any State Government, as an investment. 8. Insurance Companies Shares held by IRDA-approved insurance companies, as an investment. 9. Mutual Funds Shares held by SEBI-registered mutual funds, as an investment. 10. Venture Funds/ Private Equity Funds Shares held by Venture funds/ private equity funds, irrespective of registration with SEBI, as an investment. 11. Customers Such customers of the Company, if identifiable, who hold shares as an investment. 12. Suppliers Such suppliers of the Company, if identifiable, who hold shares as an investment. B. BASED OVERSEAS :1. Foreign Individuals/ Non-Corporate Bodies All foreign individuals / non-corporate bodies who hold shares as an investment. 2. Foreign Corporate Bodies All foreign corporate bodies who hold shares as an investment. 3. Foreign Institutional Investors (SEBI-registered) All FIIs registered with SEBI who hold shares as an investment. 4. Non-Resident Indians (Individuals) All NRI (individuals) who hold shares as an investment. 5. Non-Resident Indian Corporate Bodies All NRI-owned corporate bodies that hold shares as an investment.
C. GDRs/ADRs/ADSs
All underlying shares of GDRs/ ADRs/ ADSs or any other foreign depository receipt, without a controlling interest.
D. OTHERS
Any other category of shareholders, not listed above, without a controlling interest.
25
Definition of some important terminology:What are Controlling/ Strategic Holding and as such is not Free-float? In essence, shares held by shareholders who 'control' the company or would exercise their voting rights in concert with the 'controlling' body (control as defined under SEBI's Takeover Regulations) or shares which are under a lock-in or would not be sold in the open market in a normal course are defined as 'Controlling/ Strategic Holdings'. In specific, these would include: Holdings by founders/directors/ acquirers which has control element Holdings by persons/ bodies with "Controlling Interest" Government holding as promoter/acquirer Strategic stakes by private corporate bodies/ individuals Equity held by associate/group companies (cross-holdings) Equity held by Employee Welfare Trusts All locked-in shares Any shares which would not be sold in the open market in normal course. The remaining shareholders would fall under the free float category
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Format for shareholding pattern as describe by the SEBI

Statement Showing Shareholding Pattern Name of the Company : Quarter Ended : Number of Sharehold ers Total numb er of share s Number of shares held in dematerializ ed form Total shareholding as a percentage of total number of shares As a As a percent percent age age of of(A+B) (A+B+C 1 )
Scrip Code : Catego ry code Category of Shareholder
(A)
1 (a) (b) (c) (d) (e) (e-i) (e-ii)
Shareholding of Promoter and Promoter Group2 Indian Individuals/ Hindu Undivided Family Central Government/ State Government(s) Bodies Corporate Financial Institutions/ Banks Any Others(Specify)
Sub Total(A)(1) 2 a Foreign Individuals (NonResidents Individuals/
27
b c d d-i d-ii
Foreign Individuals) Bodies Corporate Institutions Any Others(Specify)
Sub Total(A)(2) Total Shareholding of Promoter and Promoter Group (A)= (A)(1)+(A)(2) (B) 1 (a) (b) (c) (d) (e) (f) (g) (h) (h-i) (h-ii) Public shareholding Institutions Mutual Funds/ UTI Financial Institutions / Banks Central Government/ State Government(s) Venture Capital Funds Insurance Companies Foreign Institutional Investors Foreign Venture Capital Investors Any Other (specify)
Sub-Total (B)(1) B2 (a) (b) I

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Non-institutions Bodies Corporate Individuals Individuals -i. Individual
II
(c) (c-i) (c-ii)
shareholders holding nominal share capital up to Rs 1 lakh ii. Individual shareholders holding nominal share capital in excess of Rs. 1 lakh. Any Other (specify)
Sub-Total (B)(2) Total Public Shareholding (B)= (B)(1)+(B)(2) TOTAL (A)+(B) (C) Shares held by Custodians and against which Depository Receipts have been issued GRAND TOTAL (A)+(B)+(C)
(B)
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Example of share holding pattern:-
Shareholding Pattern
BHARAT HEAVY ELECTRICALS LTD. Scrip Code : 500103 Date Begin : 01 Jan 2008 Quarter Ending : March 2008 Date End : 31 Mar 2008 Total Total No. of Total No. Shareholding No. of Shares held in of as a % of Shareholders Dematerialized Shares Total No. of Form Shares
As a As a % % of of (A+B) (A+B+C)
Category of Shareholder
(A) Shareholding of Promoter and Promoter Group

(1) Indian
Central Government / State Government(s)
4 331,510,400
67.72
67.72
Any Others (Specify)
Directors/Promoters & their Relatives & Friends
800
400
Sub Total
6 331,511,200
400
67.72
67.72
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)
6 331,511,200
400
67.72
67.72
(B) Public Shareholding

(1) Institutions
Mutual Funds / UTI
254
27,251,932
27,248,732
5.57
5.57
Financial Institutions / Banks
51
859,390
858,590
0.18
0.18
30
Insurance Companies
13,981,876
13,981,476
2.86
2.86
Foreign Institutional Investors
635
88,471,103
88,469,303
18.07
18.07
Sub Total
948 130,564,301
130,558,101
26.67
26.67
(2) Non-Institutions
Bodies Corporate
2,625
16,677,059
16,674,859
3.41
3.41
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh
201,876
8,896,825
8,466,318
1.82
1.82
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh Any Others (Specify) -
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1,085,312
1,085,312
0.22
0.22
Non Resident Indians
4,192
575,674
575,674
0.12
0.12
Directors & their Relatives & Friends
20
20
Trusts
43
18,411
18,411
Clearing Members
475
189,896
189,896
0.04
0.04
Overseas Corporate Bodies
302
302
Foreign Nationals
1,000
1,000
Sub Total
209,246
27,444,499
27,011,792
5.61
5.61
Total Public shareholding (B)
210,194 158,008,800
157,569,893
32.28
32.28
Total (A)+(B)
210,200 489,520,000
157,570,293 100.00
100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
Total (A)+(B)+(C)
210,200 489,520,000
157,570,293
100.00
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The various clarifications given by the company about the shareholding pattern according to SEBI guidelines:Shareholding belonging to the category : "Promoter and Promoter Group"
Sl. No.
1 2 3 4 5 6
Name of the Shareholder

President of India R K Singh B B Singh Surajit Mitra Chandra Pratap Singh B P Rao Total
No. of Shares
331,510,000 100 100 200 400 400 331,511,200
Shares as % of Total No. of Shares

67.72 0.00 0.00 0.00 0.00 0.00 67.72
Shareholding belonging to the category "Public" and holding more than 1% of the Total No.of Shares
Sl. No.
1
No. of Shares
Shares as % of Total No. of Shares
ICICI Prudential Life Insurance Company Ltd
7,122,087
1.45
Life Insurance Corporation Ltd Total
9,113,762 16,235,849
1.86 3.32
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Details of Locked-in Shares

Sl. No.
1 Nil Total
No. of Shares
0 0
Locked-in Shares as % of Total No. of Shares

0.00 0.00
Details of Depository Receipts (DRs)

Type of Outstanding No. of DR (ADRs, GDRs, Outstanding SDRs, etc.) DRs
Nil Total 0 0
Sl. No.
1
No. of Shares Underlying Outstanding DRs

0 0
Shares Underlying Outstanding DRs as % of Total No. of Shares

0.00 0.00
Holding of Depository Receipts (DRs), where Underlying Shares are in Excess of 1% of the Total No. of Shares
Type of Outstanding Sl. Name of the DR DR (ADRs, No. Holder GDRs, SDRs, etc.)
1 Nil Total Nil
No. of Shares Underlying Outstanding DRs

0 0
Shares Underlying Outstanding DRs as a % of Total No. of Shares

0.00 0.00
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Introduction of the volatility

The year 1991 brings lots to the nation. Mr. P V Narsinhmaro came with the Concept of liberalization, privatization and globalization, and after that the journey of Prosperity start. The economic developments touch two digit growth rates. Our export import breaks all record and climb to new reach. India attracts the highest foreign funds after China. This entire goody picture attracts huge funds from abroad. They start to invest in India and Indian companies. In result, companies get huge & cheap funds. They converted these funds into profit and growth. And finally all these things are reflecting in stock prices of the companies. The journey of Indian stock market starts form February, 2006. In 2006 Sensex kissed 10000 points. And within two years it touches 21000 in December, 2007. The sensex rose from 13000 t0 21000 from January 2007 to December. And within 6 month again it reaches to 7800 from January to October 2008. We can feel high volatility in the Indian stock market. The reasons for this volatility are FIIs inflow, Inflation rate, interest rate, govt. policy, Investors awareness etc. This research mainly focuses on the volatility of BSE SENSEX. Definition of volatility:The relative rate at which the price of a security moves up and down. Volatility is found by calculating the annualized standard deviation of daily change in price. If the price of a stock moves up and down rapidly over short time periods, it has high volatility. If the price almost never changes, it has low volatility. Different people have different definitions for volatility. For our purpose, we can say that volatility essentially refers to uncertainty arising out of price changes of shares. It is important to understand the meaning of volatility a little more closely because it has a major bearing on how margins are computed.
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Objective of volatility:The main reason for the prominent roie that volatility plays in financial markets is that volatility is that volatility associated with risk and uncertainty, the key attributes in investing, option pricing, and risk management. Heteroscedasticity, a technical term for time-varying volatility makes the estimation of asset-pricing relationships inefficient. Hence, econometric techniques are needed in controlling for heteroscedasticity in financial market modeling. How is volatility computed? As mentioned earlier, volatility has different definitions and therefore different people compute it differently. For our understanding purpose, let us compute volatility based on close prices of a share over last 6 months. Since it is based on historical data let us call it historical volatility. You can easily calculate historical volatility using an excel sheet. All you need to do is to put down close prices of a share for the last six months in a column of the excel sheet. Calculate the daily returns, that is, use LN (natural log) function in excel. Use the formula LN (todays close price / yesterdays close price) in the next column for calculating daily returns for all the days. Go to the end of the second column (after the last value) and use the excel function STDEV (available under statistical formulas) to calculate the Standard Deviation of returns computed as above. The calculated standard deviation expressed as percentage is the historical volatility of the share for the six months period. For those interested in the statistical formulae of volatility.
The chart of volatility in a daily market:-
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The Statistical Nature of Volatility Black & Scholes assumed that financial asset prices are random variables that are log normally Distributed. Therefore, returns to financial assets, the relative price changes are usually measured by taking the differences between the logarithmic prices. These differences (the so called logrelatives)are normally distributed. A normal distribution is indicated by a bell shaped curve.
What does this all means in practice? Stock prices are usually observed at fixed intervals of time (daily, weekly or monthly) and we then have a time series of data. The log relative returns are mathematically defined by the equation
where Si is the stock price at the end of the i -th interval and ln( ) is the natural logarithmic function.
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Estimation of Volatility and their various models:1. Trading or Non trading Days:To estimate the volatility of a stock price empirically, the stock price is usually observed at fixed intervals of time. These intervals can be days, weeks or months2. Before any calculation can be done, however, a question one needs to answer is whether the volatility of an exchange-traded instrument is the same when the exchange is open as when it is closed. Some people argue that information arrives even when an exchange is closed and this should influence the price. A lot of empirical studies have been done and researchers found that volatility is far larger when the exchange is open than when it is closed. The consequence of this is that if daily data are used to measure volatility, the results suggest that days when the exchange is closed should be ignored.
2. Historical Volatility:The historical volatility is the volatility of a series of stock prices where we look back over the historical price path of the particular stock. We previously mentioned that the most common measure of dispersion is the standard deviation. The historical volatility estimate is thus given by
where
is the mean defined by
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Ui was defined in Equation (1). in Equation (2) gives the estimated volatility per interval. To enable us to compare volatilities for different interval lengths we usually express volatility in annual terms. To do this we scale this estimate with an annualization factor (normalising constant) h which is the number of intervals per annum such that
3. Implied Volatility:A simple option pricing model (like the Black & Scholes model) will give a theoretical price for an option as a function of the implicit parameters constant volatility being one. However, if the option is traded, the market price might not be the same as the model price. In that case one might ask, which volatility estimate does one have to use in the model so that the model price and the market price are the same? This is the implied volatility. In a constant volatility framework, implied volatility is the volatility of the underlying asset price that is implicit in the market price of an option according to a particular model. We illustrate the basic idea by analyzing the MTNABA warrant. This warrant has a strike price of Rs 40, it expires on 17 March 2005 and the cover ratio is 10. Fig. 5 shows the MTN and MTNABA prices from February 2004. The warrant price follows the MTN price but due to the gearing of the warrant the swings can be wilder. To calculate the implied volatility we ask ourselves: on 1 December 2004, the warrant price was R0.44 and MTNs price was R40 (the same as the strike price), we now want to know, if we substitute this price (44 cents), into the Black & Scholes equation, what volatility will pop out! Before we can do anything, we need to know the parameters mentioned in the Introduction. Current interest rates are at 8.5% and MTNs dividend yield is 1%. If you have an option pricing spreadsheet, you can substitute all the parameters into that and use Excels Goalseek to search for the volatility4. If you do not have such a spreadsheet you can use the formula due to Corrado and Miller. They refer to it as the improved quadratic formula where
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Shareholding pattern & volatility of stock Here X K e rT which is the discounted strike price, S S e dT where S is the stock price, K the strike price, V is the warrant price multiplied by the cover ratio, r is the risk-free interest rate,
d is the dividend yield,
3.14159265K (Archimedes constant) and T is the time to expiry. It is
Accurate over a wide range of strike prices.
4. Difference between Implied and Statistical Volatilities:Implied volatilities should be viewed differently from statistical volatilities even though they both forecast the volatility of the underlying asset over the life of the option. The two forecasts differ because they use different data and different models. Implied methods use current data on market prices of options, so the implied volatility contains all the forward expectations of investors about the likely future price path of the underlying. Also, due to the Black & Scholes assumptions this method assumes that the underlyings price path is continuous. Contrast this with statistical methods which use historic data on the underlying asset returns in a discrete time model for the variance of a time series.
5. Realized/Actual Volatility This is the historical volatility calculated looking backward" when an option has expired. As an Example, lets say a trader wants to write an option today that expires in 3 months time. To estimate the volatility he/she might calculate the historical volatility of the past 3 months. If similar options are trading in the market he/she might calculate the implied volatility. The actual volatility will, however, only be known at expiry. Once the 3 months have passed, one can calculate the realized volatility (actual variance) between the original trade date and expiry because the actual price path is then known.
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Literature Review
The first study (Khanna & Palepu, 1999) established that there is a positive linear relationship between insider ownership and performance of the firm by using single year (1993) data and both accounting (ROA) and market (Tobins q) based performance measures to study this relationship.1 According to Jensen and Meckling (1976) cash flow ownership by an entrepreneur reduces incentives for expropriation and raises incentives to pay out dividends. They also (La Porta et al. (1999b)) show that this need for higher cash flow ownership shows a commitment to limit expropriation and is higher in countries with inferior shareholder protection.2 The nature of relation between the ownership structure and rms economic performance, have been the core issue in the corporate governance literature. From a rms point of view, rms portability, enjoyed by agents, is affected by ownership structure of the rm. In particular, Ownership structure is an incentive device for reducing the agency costs associated with the Separation of ownership and management, which can be used to protect property rights of the rm (Barbosa and Louri (2002)).3
The dispersion of ownership led to the evolution of the control and the rise of Management as power in the management. The trend showed that a vast Majority of shareholders purchased stock only for the purpose of investment and Were no longer interested in the management of the corporation. The modern Shareholder is in fact a shareholder very often institutional and impersonal and Completely without any loyalty to the company and without any ambition to take Part in the management. Under the modern corporate system, control over the Corporation was being exercised with minimum ownership interest.4 In the Indian context, early study by Thenmozhi (2002) reported decline in volatility due to increased flow of information while Shenbagaraman (2003) did not find significant impact on market volatility in India. Raju and Karnade (2003) also studied the behaviour of volatility of the S&P CNX Nifty index after the introduction of derivatives trading. All the above studies relating to S&P Nifty reported a decline in the volatility. Bandivadekar and Ghosh (2003) studied volatility behaviour of both NSE Nifty and BSE Sensex after the introduction of futures trading and documented futures effects in the volatility behavior of NSE Nifty.5
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We study the relation between institutional ownership and volatility across dividend paying and non-dividend paying firms. We find that institutional ownership and volatility are positively correlated for dividend paying firms, while they are negatively correlated for non-dividend paying stocks.6 This study examines empirically the effects of ownership structure on the firm performance For a panel of Indian corporate firms, from an `agency perspective'. We examine the effect of interactions between corporate, foreign, institutional, and managerial ownership on firm Performance. Using panel data framework, we show that a large fraction of cross-sectional Variation, in firm performance, found in several studies, can be explained by unobserved Firm heterogeneity. We also provide some evidence that the shareholding by institutional investors and managers affect firm performance, after controlling for observed firm characteristics and unobserved firm heterogeneity and the effect is non-linear.7
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Research methodology
Primary Objectives:The main reason for selecting that topic is to find out Is there any relationship between share holding pattern and the volatility of share price? Secondary Objectives:1. To know about the overview of the Indian stock market. 2. To project the investor behavior about the stock markets & about the share holding pattern. 3. The SEBI guidelines about the share holding pattern. Useful to investors in predicting volatility:1. To know about the overview of the Indian stock market. 2. To project the investor behavior about the stock markets & about the share holding pattern. 3. The SEBI guidelines about the share holding pattern.
SOURCES OF INFORMATION:Secondary source: -
I have visited the BSE website for the information about the various share holding pattern of the 30 companies which is included in the SENSEX in BSE and prepare a one excel sheet which contains all the data regarding the shareholding pattern that contains promoter holding, various public holding and the shares issued to the various custodians and the depository receipts.
42
Hypothesis
Hypothesis is a one kind of assumption that the researcher have to be made before starting to the overall project.
H0:- The stock with more than 50% promoter stake has not higher volatility
H1:- The stock with more than 50% promoter stake has higher volatility
43
Research method:-
To find out the relation between these two we are basically using the two statistical model that is 1. Correlation 2. Regression And to find out this two, we have followed the following steps. We have selected the SENSEX as the base and in that we find out the share holding pattern of 30 companies that are included in the SENSEX. Then we make the Avg. of shareholding pattern of all the quarters starting from Jan to Dec. in a particular year. Then we have selected the companies that contains Avg. 50% or more than that of the promoter holding in that company and also the 50% or less promoter holding in a particular company. And from that we have short out closing prices of last 1 year of that companies that contains 50% or more and 50% or less than that promoter holding. Then we have find out the log relative of closing prices through the following equation.
Then we have to find out the volatility (standard deviation) of all the values of log relative through the following formula, and the find the
Then we have find out the relationship between shareholding pattern and volatility, as our main objective to do a study. Is their any change in shareholding pattern affecting the price and volume of the particular share? So we have to find out the correlation between these two variables.
44
What do you mean by correlation?

Correlation is a measure of the degree of relatedness of variables. It can help a business researcher determine for a sample of pairs of data, correlation analysis can yield a numerical value that represents the degree of relatedness of the two stock pairs over time. So, here in our project we have to find out the relatedness of shareholding pattern and their share price volatility which helps the investor to make their investment decision and its also one of the tool for managing the risk in the stock market.
Advantages of correlation
An advantage of the correlation method is that we can make predictions about things when we know about correlations. If two variables are correlated, we can predict one based on the other
The advantage of the co relational research method is the ability to prove a positive or negative correlation between two variables .
Regression analysis:-Regression analysis is the process of constructing a mathematical

model or function that can be used to predict or determine one variable by another variable. The variable ti be predicted is called the dependent variable and is designed as y. the predictor is called independent variable and is designated by x. So, here in our project our objective to find out the changes in the price volatility so we have taken shareholding pattern as an independent variable called x and the volatility is dependent variable called y. The equation for finding out the regression is described below:2 b1 = [ (xi - x)(yi - y) ] / [ (xi - x) ]
b0 = y - b1 * x = bo+b1x
Advantages of regression:It provides the forecasts. In addition, it also explains the variations in the forecast variable in the past. Hence it is both prescriptive and descriptive. It is neither mechanistic as the trend method nor very subjective as the sample survey method. Though there is a, possibility of two forecasters choosing two slightly different, forecasting equations to obtain different forecasts the differences in their forecasts will rarely be significant; the differences may, however, be significant if and or both of them are not using the trend method in forecasting the values of the explanatory variables.
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Sample and data
We have selected the SENSEX as base so in that 30 companies is to be included. So our sample size is the 30 companies. We have gathers the data of shareholding of that companies for two years that is 2008 and 2009. Each year contains quarterly data of share holding pattern of BSE 30 stocks. That is about 240 data of shareholding pattern. Then we list all that companies daily closing prices start from JAN to DEC 2009 and JAN to DEC 2008 which were considers for calculating the volatility. We find that in that both the year there is 247 normal trading days. So, total data one stock 247 prices which is to be same for 30 stocks. So, 247 * 30 = 7410 data.
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DATA Analysis
2009 data above 50%
PROMOTER 67.72 67.52 81.12 54.96 52.04 54.21 89.50 74.14 67.33 59.41 56.73 74.94 79.45 58.66
VOLETALITY 0.40 0.84 0.76 0.39 0.31 0.40 0.32 0.41 0.66 0.48 0.62 0.83 0.42 1.86
1. BHARAT HEAVY ELECTRICALS LTD 2. BHARTI AIRTEL LTD. 3. DLF Universal Limited 4. Hero Honda Motors Ltd. 5. Hindustan UniLever Limited 6. Maruti Suzuki 7. NTPC 8. ONGC 9. Reliance Communications 10. State Bank of India 11. Sterlite Industries 12. Tata Consultancy Services 13. Wipro 14. Jindal Steel & Power Ltd.
Correlation
-0.1033
Interpretation So for studying the above diagram shows that there is a negative correlation between share holding pattern and volatility. And the correlation is -10.33% means there is a100% change in shareholding pattern there is negative impact of -10.33% only. So, it indicates a very minor correlation and does not impact more.
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WHEN WE SEE THE REGRESSION OUTPUT
Regression Statistics 2009 0f above 50 Multiple R R Square Adjusted R Square Standard Error Observations 0.103319216 0.01067486 0.071768901 0.415111296 14
ANOVA TABLE df SS MS F Significance F
Regression Residual Total
1 12 13
0.022311743 2.067808654 2.090120397
0.022311743 0.129481 0.725224453 0.172317388
Coefficients
Standard Error 0.67562439
t Stat
P-value
Intercept X Variable 1
0.862619288
1.276773457 0.225836 -0.359834003 0.725224
-0.00358023 0.009949689
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INTERPRETATION:-
From the above regression analysis we find the following equation:Y= 0.8626 (-0.0035x ) Where y represents dependent variable volatility, 0.8626 represents y intercept and -0.0035 represents the line slope and x is the independent variable. R square means co-efficient of determination means strength of the association that exists between two variables. So, here R square is 0.01067 which is near to zero so, indicate little correlation between two variables.
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company 2009 below 50 1. HDFC 2. HDFC Bank 3. Hindalco Industries Ltd. 4. ICICI Bank 5. Infosys 6. ITC Limited 7. Jaiprakash Associates 8. Larsen & Toubro 9. Mahindra & Mahindra Limited 10. Reliance Industries 11. Reliance Infrastructure 12. Tata Motors 13. Tata Power 14. Tata Steel 15. Bajaj Auto Limited 16. Cipla Ltd.
PROMOTER 0 20.47 35.095 0 16.38 0 46.9725 0 16.12 47.7425 37.7 40.4525 32.135 32.5828 49.62 38.42
VOLATILITY 0.50 0.37 0.61 0.62 0.37 0.36 0.86 0.50 0.54 0.87 0.67 0.65 0.40 0.67 0.44 0.35
Correlation
0.435567
INTERPRETATION:So for studying the above diagram shows that there is a positive correlation between share holding pattern and volatility. And the correlation is 43.55% means there is a100% change in shareholding pattern there is negative impact of 43.55% only. So, it indicate a correlation between two variable is very high.
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When we see the regression output
Regression Statistics 2009 below 50 Multiple R R Square Adjusted R Square 0.43556731 0.18971888 0.13184166
Standard Error 0.15739959 Observations 16
ANOVA df SS MS F Significance F
1 14 15
0.081210108 0.346844846 0.428054955
0.081210108 3.27795419 0.091725409 0.024774632
Coefficients Standard Error Intercept X Variable 1

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t Stat
P-value
0.44456 0.00400
0.069444 0.002213
6.401713 1.810512
1.64976 0.09172
INTERPRETATION
From the above regression analysis we find the following equation:Y= 0.44456 0.0040x Where y represents dependent variable volatility, 0.44456 represents y intercept and 0.0040 represents the line slope and x is the independent variable. R square means co-efficient of determination means strength of the association that exists between two variables. So, here R square is 0.18971.so, indicate high correlation between two variables.
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2008 above 50 1. BHARAT HEAVY ELECTRICALS LTD 2. BHARTI AIRTEL LTD. 3. DLF Universal Limited 4. Hero Honda Motors Ltd. 5. Hindustan UniLever Limited 6. ICICI Bank 7. Maruti Suzuki 8. NTPC 9. ONGC 10. Reliance Communications 11. State Bank of India 12. Sterlite Industries 13. Tata Consultancy Services 14. Wipro 15. Jindal Steel & Power Ltd.
PROMOTER 67.72
VOLATILITY 0.59
66.64 88.18 54.96 52.09 71.75 54.21 89.5 74.14 66.12 59.49 61.64 76.62 79.4 58.71
0.52 0.84 0.41 0.42 0.78 0.49 0.53 0.52 0.78 0.58 0.33 0.57 0.58 2.07
correlation
-0.032010194
INTERPRETATION:-
So for studying the above diagram shows that there is a negative correlation between share holding pattern and volatility. And the correlation is -3.20% means there is a100% change in shareholding pattern there is negative impact of -3.20% only. So, it indicates a correlation between two variables is very low.
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When we see the regression output Regression Statistics 2008 above 50% Multiple R R Square Adjusted R Square Standard Error Observations 0.03201019 0.00102465 0.07581960
0.42840007 15
ANOVA df SS MS F Significance F 0.90983438
1 13 14
0.002447171 2.385846163 2.388293333
0.002447171 0.183526628
0.0133341
Coefficients
Standard Error 0.670754505 0.009717842
t Stat
P-value
Intercept X Variable 1
0.743727326 -0.00112215
1.108792145 -0.115473571
0.2876115 0.9098343
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INTERPRETATION
From the above regression analysis we find the following equation:Y= 0.74372 (-0.001122x ) Where y represents dependent variable volatility, 0.74372 represents y intercept and -0.001122 represents the line slope and x is the independent variable. R square means co-efficient of determination means strength of the association that exists between two variables. So, here R square is 0.00102. So, indicate low correlation between two variables which is near to zero.
55
2008 data below 50% company 1. HDFC 2. HDFC Bank 3. Hindalco Industries Ltd. 4. Infosys 5. ITC Limited 6. Jaiprakash Associates 7. Larsen & Toubro 8. Mahindra & Mahindra Limited 9. Reliance Industries 10. Reliance Infrastructure 11. Tata Motors 12. Tata Power 13. Tata Steel 14. Bajaj Auto Limited 15. Cipla Ltd. PROMOTER 0 20.37 32.58 16.51 0 44.68 0 24.56 49.14 36.69 34.49 33.34 33.95 37.71 39.38 VOLATILITY 0.66 0.57 0.73 0.78 0.42 0.96 0.29 0.62 0.6 0.92 0.63 0.66 0.32 0.48 0.4
correlation
0.331746387
INTERPRETATION:So for studying the above diagram shows that there is a positive correlation between share holding pattern and volatility. And the correlation is 33.17% means there is a100% change in shareholding pattern there is negative impact of 33.17% only. So, it indicates a correlation between two variables is very high.
56
When we see the regression output
Regression Statistics 2008 below 50% 0.3317463 Multiple R 0.1100556 R Square 0.0415984 Adjusted R Square 0.19437361 Standard Error 15 Observations
ANOVA df Regression Residual Total 1 13 14 SS 0.060738988 0.491154346 0.551893333 Significance F 0.060738988 1.60765520 0.227060496 0.037781104 MS F
Coefficients Intercept X Variable 1 0.49351420 0.00405871
Standard Error 0.099647854 0.00320105
t Stat
P-value
4.952582403 0.0002642 1.26793344 0.22706049
57
INTERPRETATION:-
From the above regression analysis we find the following equation:Y= 0.49351 0.00405x Where y represents dependent variable volatility, 0.49351 represents y intercept and 0.00405 represents the line slope and x is the independent variable. R square means co-efficient of determination means strength of the association that exists between two variables. So, here R square is 0.1100556. so, indicate high correlation between two variables.
58
Monthly volatility chart

BHARTI AIRTEL:Month JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC SHARE HOLDING PATTERN % 67.15 67.15 67.15 67.41 67.41 67.41 67.69 67.69 67.69 67.81 67.81 67.81 VOLATILITY % 0.034625 0.018583 0.027382 0.025847 0.065266 0.015234 0.142045 0.026204 0.021193 0.043036 0.02723 0.021695
correlation
0.190903657
Interpretation :If we have find the monthly volatility of the stock price & the shareholding pattern of the promoter group holding more than 50% in bharti airtel then we have to find that the stock is more positive in the short run than in the long run. The correlation is 19.09%. means it indicate that when there is a 100% change in shareholding pattern than its impact on stock is 19.09%
59
BHEL LTD.
Month JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC Share holding pattern % 67.72 67.72 67.72 67.72 67.72 67.72 67.72 67.72 67.72 67.72 67.72 67.72 Volatility % 0.02734 0.02214 0.029173 0.033212 0.048497 0.026873 0.026466 0.02092 0.011609 0.016853 0.011322 0.014788
2.0236 .
Interpretation :If we have find the monthly volatility of the stock price & the shareholding pattern of the promoter group holding more than 50% in bhel then we have to find that the stock is more positive in the short run than in the long run. The correlation is 202 % . means it indicate that when there is a 100% change in shareholding pattern than its impact on stock is 202%
60
DLF LTD.
Month JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC Shareholding pattern % 88.55 88.55 88.55 78.65 78.65 78.65 78.65 78.65 78.65 78.64 78.64 78.64 Volatility 0.061 0.059 0.047 0.057 0.077 0.045 0.05 0.034 0.023 0.033 0.038 0.023
Correlation
0.373165989
Interpretation :If we have find the monthly volatility of the stock price & the shareholding pattern of the promoter group holding more than 50% in Dlf then we have to find that the stock is more positive in the short run than in the long run. The correlation is 37.31 % . means it indicate that when there is a 100% change in shareholding pattern than its impact on stock is 37.31%
61
Findings
We have found that the share holding pattern we find for the month than it is more volatile than the shareholding pattern of the year. In the overall project we find that volatility of the stock is very high and that attracts the investor to do a trading in the stock market to gain a profit. The investor generally focuses on the stock, that is being largely hold by the various institutions and the promoter because they believe that to hold this stock is the safest for them and yield a high return for them in the future. The security exchange board of India (SEBI) has puts a lots of guidelines towards the shareholding pattern that every company has to submitted their overall shareholding pattern every quarter ended on March ,June, sep. and Dec. to the SEBI and to the recognized stock exchange where the stock is listed. Then the company should also submitted the details of share hold by each of the promoter , director of the company etc. and also to give details about the various institutions who has hold the shares more than 1% of their total paid up capital.
62
Conclusion
This study has examined the relationship between the share holding pattern and the price volatility of that share. Three aspects of ownership have been considered: equity ownership by Director, equity ownership by FII and equity ownership by corporation. The results presented, in this study suggests that, for Indian Corporate Firms, shareholding pattern and price volatility is unrelated in the long run. Our research reports suggests that there is a negative correlation between share holding pattern of promoter group and the prices of that stock in both the years that is in 2008 and 2009. So, to impact of shareholding pattern on price volatility is very less but the other factors like the financial results of the company, some information regarding the particular stock, the dividend policy of the company, the technical analysis of the various charts and their patterns helpful to make the price volatile.
From our research we find that there is very less changes in the share holding pattern and in some companies the share holding pattern remains stable and never changes. So due to not much more change in the share holding pattern thats effects will shown in the long run but not in the short run.
63
Bibiliography
http://www.bseindia.com/shareholding/sharehold_se arch.asp http://www.bseindia.com/stockinfo/stockprc.aspx http://www.moneycontrol.com http://www.bseindia.com/about/introbse.asp http://www.nseindia.com/about

Refrences for literature review:1. Khanna, Tarun and Krishna Palepu (1999). Emerging Market Business Groups, Concentrated Ownership, Foreign Investors and Corporate.Governance, Randall Morck (ed.), Chicago: University of Chicago Press. Jensen, C. Michael, and William Meckling (1976). Theory of the Firm: Managerial Behavior, 2. Agency Cost, and Capital Structure, Journal of Financial Economics, 3, October, 305360. 3 from survey of Shleifer and Vishny (1997) and Megginson and Netter (2001). 4 Compare S.C. Sen, The New Frontiers of Company Law, 21, (Eastern Law House, Calcutta, 1971 5 Bandivadekar, S and Saurabh Ghosh, Derivatives and Volatility on Indian Stock Markets, RBIOccasional Papers, Vol.24, No. 3, Winter 2003 6 Also, dividend disbursement is one of the most important factors influencing S&P stock ratings. Firms who
do not pay dividends can not receive a rating higher than a B+ (taken from Standard&Poors Publication, Aug 17,2006)
Agrawal, A. and C. Knober [1996], Firm performance and mechanisms to control agency problems between managers and shareholders, Journal of Financial and Quantitative Analysis 31, 377, 397
64
ANNEXTURE Shareholding pattern of 2009
details
BHARAT HEAVY ELECTRICALS LTD A)Shareholding of Promoter and Promoter Group B) Public Shareholding march
67.72 32.28 -
2009
june
67.72 32.28 -
sep.
67.72 32.28 -
dec.
67.72 32.28 -
total
AVG.
270.88 129.12 0 0 270.09 129.91 0 0 324.49 75.51 0 0 0 400 0 0 81.88 243.73 74.39 0 219.84 180.16 0 0 140.38
67.72 32.28 0 0 67.522 32.477 0 0 81.122 18.877 0 0 0 100 0 0 20.47 60.932 18.597 0 54.96 45.04 0 0 35.095
C)Shares held by Custodians and against which Depository Receipts have been issued
BHARTI AIRTEL LTD. A)Shareholding of Promoter and Promoter Group B) Public Shareholding
67.15 32.85 -
67.41 32.59 -
67.69 32.31 -
67.84 32.16 -
C)Shares held by Custodians and against which Depository Receipts have been issued DLF Universal Limited
A)Shareholding of Promoter and Promoter Group B) Public Shareholding
88.55 11.45 -
78.65 21.35 -
78.65 21.35 -
78.64 21.36 -
C)Shares held by Custodians and against which Depository Receipts have been issued HDFC
100 -
100 -
100 -
100 -
C)Shares held by Custodians and against which Depository Receipts have been issued HDFC Bank
19.38 61.55 19.07
19.34 61.89 18.77
19.29 61.85 18.86
23.87 58.44 17.69
C)Shares held by Custodians and against which Depository Receipts have been issued Hero Honda Motors Ltd.
54.96 45.04 -
54.96 45.04 -
54.96 45.04 -
54.96 45.04 -
C)Shares held by Custodians and against which Depository Receipts have been issued Hindalco Industries Ltd.
A)Shareholding of Promoter and Promoter Group
36.1
36.1
36.1
32.08
65
Shareholding pattern & volatility of stock 221.16 38.46 0 208.16 191.84 0 0 0 284.98 115.02 0 65.52 259.79 74.69 0 0 398.13 1.87 0 187.89 212.11 0 0 0 387.98 12.02 0 64.48 262.94 24.28 0 216.84 183.16 0 55.29 9.615 0 52.04 47.96 0 0 0 71.245 28.755 0 16.38 64.947 18.672 0 0 99.532 0.4675 0 46.972 53.027 0 0 0 96.995 3.005 0 16.12 65.735 6.07 0 54.21 45.79 0
B) Public Shareholding
53.74 10.16
53.97 9.93
54.16 9.74
59.29 8.63
C)Shares held by Custodians and against which Depository Receipts have been issued Hindustan UniLever Limited
52.06 47.94 -
52.04 47.96 -
52.04 47.96 -
52.02 47.98 -
C)Shares held by Custodians and against which Depository Receipts have been issued ICICI Bank
72.88 27.12
70.93 29.07
70.11 29.89
71.06 28.94
C)Shares held by Custodians and against which Depository Receipts have been issued Infosys
16.49 64.37 19.13
16.49 65.24 18.28
16.48 64.99 18.53
16.06 65.19 18.75
C)Shares held by Custodians and against which Depository Receipts have been issued ITC Limited
99.44 0.56
99.52 0.48
99.56 0.44
99.61 0.39
C)Shares held by Custodians and against which Depository Receipts have been issued Jaiprakash Associates
45.24 54.76 -
50.09 49.91 -
46.49 53.51 -
46.07 53.93 -
C)Shares held by Custodians and against which Depository Receipts have been issued Larsen & Toubro
97.06 2.94
96.91 3.09
96.9 3.1
97.11 2.89
C)Shares held by Custodians and against which Depository Receipts have been issued Mahindra & Mahindra Limited
21.65 64.15 6.65
19.94 64.95 6.09
12.24 66.73 5.88
10.65 67.11 5.66
C)Shares held by Custodians and against which Depository Receipts have been issued Maruti Suzuki
54.21 45.79 -
54.21 45.79 -
54.21 45.79 -
54.21 45.79 -
C)Shares held by Custodians and against which Depository Receipts have been issued 66
Shareholding pattern & volatility of stock NTPC

89.5 10.5 89.5 10.5 89.5 10.5 89.5 10.5 -
0 358 42 0 0 296.56 103.44 0 0 269.33 126.42 4.26 0 190.97 195.5 13.53 0 150.8 246.99 2.23 0 237.64 146.36 15.97 0 226.94 119.71 53.36 0 299.76 100.24 0 0
0 89.5 10.5 0 0 74.14 25.86 0 0 67.332 31.605 1.065 0 47.742 48.875 3.3825 0 37.7 61.747 5 0.5575 0 59.41 36.59 3.9925 0 56.735 29.927 5 13.34 0 74.94 25.06 0 0
C)Shares held by Custodians and against which Depository Receipts have been issued ONGC
74.14 25.86 -
74.14 25.86 -
74.14 25.86 -
74.14 25.86 -
C)Shares held by Custodians and against which Depository Receipts have been issued Reliance Communications
67.34 30.48 2.19
67.26 31.93 0.81
67.22 32.07 0.71
67.51 31.94 0.55
C)Shares held by Custodians and against which Depository Receipts have been issued Reliance Industries
49.03 47.54 3.43
49.03 47.81 3.16
46.34 50.42 3.24
46.57 49.73 3.7
C)Shares held by Custodians and against which Depository Receipts have been issued Reliance Infrastructure
37.55 61.84 0.61
37.75 61.62 0.64
37.75 61.8 0.46
37.75 61.73 0.52
C)Shares held by Custodians and against which Depository Receipts have been issued State Bank of India
59.41 36.31 4.27
59.41 36.44 4.14
59.41 36.69 3.9
59.41 36.92 3.66
C)Shares held by Custodians and against which Depository Receipts have been issued Sterlite Industries
61.19 28.13 10.68
61.71 28.87 9.43
52.02 30.49 17.49
52.02 32.22 15.76
C)Shares held by Custodians and against which Depository Receipts have been issued Tata Consultancy Services
76.21 23.79 -
75.09 24.91 -
74.33
74.13 25.87 -
25.6 7
-
C)Shares held by Custodians and against which Depository Receipts have been issued Tata Motors 67
Shareholding pattern & volatility of stock 40.452 5 46.657 12.892 0 32.135 65.415 2.45 0 32.582 66.905 0.5125 0 79.457 18.91 1.6275 0 49.62 50.265 0.12 0 38.42 60.657 5 0.9225 0 58.662 41.337 -
41.73 45.17 13.1
41.38 45.52 13.1
40.62 46.28 13.1
38.08 49.66 12.27
161.81 186.63 51.57 0 128.54 261.66 9.8 0 130.33 267.62 2.05 0 317.83 75.64 6.51 0 198.48 201.06 0.48 0 153.68 242.63 3.69 0 234.65 165.35 -
C)Shares held by Custodians and against which Depository Receipts have been issued Tata Power
33.26 66.64 0.1
33.17 66.74 0.09
31.06 63.31 5.63
31.05 64.97 3.98
C)Shares held by Custodians and against which Depository Receipts have been issued Tata Steel
33.95 66.05 -
33.95 66.05 -
31.18 67.36 1.46
31.25 68.16 0.59
C)Shares held by Custodians and against which Depository Receipts have been issued Wipro
79.32 19.06 1.62
79.22 19.15 1.62
79.68 18.69 1.63
79.61 18.74 1.64
C)Shares held by Custodians and against which Depository Receipts have been issued Bajaj Auto Limited
49.62 50.26 0.13
49.62 50.26 0.12
49.62 50.27 0.12
49.62 50.27 0.11
C)Shares held by Custodians and against which Depository Receipts have been issued Cipla Ltd.
39.38 59.56 1.06
39.38 59.74 0.88
38.12 60.99 0.89
36.8 62.34 0.86
C)Shares held by Custodians and against which Depository Receipts have been issued Jindal Steel & Power Ltd.
A)Shareholding of Promoter and Promoter Group B) Public Shareholding C)Shares held by custodians and against which depository receipts have been issued
58.75 41.25 -
58.74 41.26 -
58.58 41.42 -
58.58 41.42 -
68
Shareholding pattern of 2008

details
BHARAT HEAVY ELECTRICALS LTD A)Shareholding of Promoter and Promoter Group B) Public Shareholding march
67.72 32.28 -
2008
june
67.72 32.28 -
sep.
67.72 32.28 -
dec.
67.72 32.28 -
total
avg.
270.88 129.12 0 0 266.56 133.44 0 0 352.73 47.27 0 0 0 400 0 0 81.47 241.01 77.51 0 219.84 180.16 0 0 130.33 226.56 43.11 0 208.36 191.64 0
67.72 32.28 0 0 66.64 33.36 0 0 88.18 11.82 0 0 0 100 0 0 20.37 60.25 19.38 0 54.96 45.04 0 0 32.58 56.64 10.78 0 52.09 47.91 0
BHARTI AIRTEL LTD. A)Shareholding of Promoter and Promoter Group B) Public Shareholding
65.88 34.12 -
66.5 33.5 -
67.03 32.97 -
67.15 32.85 -
C)Shares held by Custodians and against which Depository Receipts have been issued DLF Universal Limited
88.16 11.84 -
88.16 11.84 -
88.15 11.85 -
88.26 11.74 -
C)Shares held by Custodians and against which Depository Receipts have been issued HDFC
100 -
100 -
100 -
100 -
C)Shares held by Custodians and against which Depository Receipts have been issued HDFC Bank
23.26 55.13 21.61
19.42 61.61 18.97
19.4 61.68 18.92
19.39 62.59 18.01
C)Shares held by Custodians and against which Depository Receipts have been issued Hero Honda Motors Ltd.
54.96 45.04 -
54.96 45.04 -
54.96 45.04 -
54.96 45.04 -
C)Shares held by Custodians and against which Depository Receipts have been issued Hindalco Industries Ltd.
31.42 57.6 10.98
31.42 57.91 10.67
31.43 57.89 10.68
36.06 53.16 10.78
C)Shares held by Custodians and against which Depository Receipts have been issued Hindustan UniLever Limited
52.11 47.89 -
52.1 47.9 -
52.08 47.92 -
52.07 47.93 -
C)Shares held by Custodians and against which Depository Receipts have been issued 69
Shareholding pattern & volatility of stock ICICI Bank

71.42 28.58 71.12 28.88 71.54 28.46 72.9 27.1
0 0 286.98 113.02 0 66.03 257.38 76.59 0 0 397.38 2.62 0 178.71 221.29 0 0 0 331.74 15.44 0 98.24 272.57 29.19 0 216.84 183.16 0 0 358 42 0 0 0
0 0 71.75 28.26 0 16.51 64.35 19.15 0 0 99.35 0.66 0 44.68 55.32 0 0 0 82.94 3.86 0 24.56 68.14 7.30 0 54.21 45.79 0 0 89.5 10.5 0 0 0
C)Shares held by Custodians and against which Depository Receipts have been issued Infosys
16.52 64.31 19.17
16.51 64.35 19.14
16.5 64.33 19.17
16.5 64.39 19.11
C)Shares held by Custodians and against which Depository Receipts have been issued ITC Limited
99.28 0.72
99.32 0.68
99.35 0.65
99.43 0.57
C)Shares held by Custodians and against which Depository Receipts have been issued Jaiprakash Associates
44.54 55.46 -
44.46 55.54 -
44.44 55.56 -
45.27 54.73 -
C)Shares held by Custodians and against which Depository Receipts have been issued Larsen & Toubro
95.87 4.13
43.04 4.14
96.24 3.76
96.59 3.41
C)Shares held by Custodians and against which Depository Receipts have been issued Mahindra & Mahindra Limited
22.62 69.54 7.84
22.64 70.02 7.34
26.49 66.44 7.07
26.49 66.57 6.94
C)Shares held by Custodians and against which Depository Receipts have been issued Maruti Suzuki
54.21 45.79 -
54.21 45.79 -
54.21 45.79 -
54.21 45.79 -
C)Shares held by Custodians and against which Depository Receipts have been issued NTPC
89.5 10.5 -
89.5 10.5 -
89.5 10.5 -
89.5 10.5 -
C)Shares held by Custodians and against which Depository Receipts have been issued C)Shares held by Custodians and against which Depository Receipts have been issued ONGC 70
Shareholding pattern & volatility of stock 296.56 103.44 0 0 264.48 125.67 9.85 0 196.57 187.97 15.47 0 146.76 244.68 8.56 0 237.96 138.35 23.68 0 246.56 94 59.43 0 306.47 93.53 0 0 141.94 202.89 55.17 0 133.36 266.23 0.4 74.14 25.86 0 0 66.12 31.42 2.46 0 49.14 46.99 3.87 0 36.69 61.17 2.14 0 59.49 34.59 5.92 0 61.64 23.5 14.86 0 76.62 23.38 0 0 35.49 50.72 13.79 0 33.34 66.56 0.1
74.14 25.86 -
74.14 25.86 -
74.14 25.86 -
74.14 25.86 -
C)Shares held by Custodians and against which Depository Receipts have been issued Reliance Communications
66.12 31.33 2.55
66.12 31.31 2.57
66.12 31.54 2.34
66.12 31.49 2.39
C)Shares held by Custodians and against which Depository Receipts have been issued Reliance Industries
51.37 44.92 3.71
51.37 44.7 3.93
44.8 51.1 4.11
49.03 47.25 3.72
C)Shares held by Custodians and against which Depository Receipts have been issued Reliance Infrastructure
35.95 61.48 2.57
36.65 60.57 2.77
36.83 60.6 2.58
37.33 62.03 0.64
C)Shares held by Custodians and against which Depository Receipts have been issued State Bank of India
59.73 33.54 6.73
59.41 34.12 6.47
59.41 34.47 6.12
59.41 36.22 4.36
C)Shares held by Custodians and against which Depository Receipts have been issued Sterlite Industries
62.47 21.82 15.7
62.47 20.72 16.81
60.63 24.54 14.83
60.99 26.92 12.09
C)Shares held by Custodians and against which Depository Receipts have been issued Tata Consultancy Services
77.55 22.45 -
76.36 23.64 -
76.35 23.65 -
76.21 23.79 -
C)Shares held by Custodians and against which Depository Receipts have been issued Tata Motors
33.42 53.9 12.69
33.4 52.13 14.47
33.34 51.74 14.91
41.78 45.12 13.1
C)Shares held by Custodians and against which Depository Receipts have been issued Tata Power
33.41 66.49 0.1
33.39 66.5 0.1
33.3 66.6 0.1
33.26 66.64 0.1
C)Shares held by Custodians and against which Depository 71
Shareholding pattern & volatility of stock Receipts have been issued Tata Steel
33.94 66.05 33.94 66.05 33.94 66.05 33.96 66.04 -
0 135.78 264.19 0 0 317.57 76.04 6.4 0 150.84 147.21 1.96 0 157.52 239.34 3.11 0 234.82 165.18 0
0 33.95 66.05 0 0 79.39 19.01 1.6 0 37.71 36.80 0.49 0 39.38 59.84 0.78 0 58.71 41.30 0
C)Shares held by Custodians and against which Depository Receipts have been issued Wipro
79.45 18.96 1.59
79.42 18.99 1.59
79.37 19.03 1.6
79.33 19.06 1.62
C)Shares held by Custodians and against which Depository Receipts have been issued Bajaj Auto Limited
-
50.28 48.47 1.25
50.28 49.19 0.53
50.28 49.55 0.18
C)Shares held by Custodians and against which Depository Receipts have been issued Cipla Ltd.
39.38 59.91 0.7
39.38 59.91 0.7
39.38 59.91 0.7
39.38 59.61 1.01
C)Shares held by Custodians and against which Depository Receipts have been issued Jindal Steel & Power Ltd.
58.86 41.14 -
58.6 41.4 -
58.6 41.4 -
58.76 41.24 -
72
Volatility of Bharti Airtel of 2009(only one company)

Symbol BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL 73 Series EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ BL EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ Monthly Date Close Price LOG RELATIVE volatility 1-Jan-09 719.95 2-Jan-09 704.9 -0.021125816 5-Jan-09 685.65 -0.027688655 6-Jan-09 657 -0.042683275 7-Jan-09 650 -0.010711656 9-Jan-09 638.9 -0.017224415 12-Jan-09 623.85 -0.023837993 13-Jan-09 607.05 -0.027298795 14-Jan-09 622.75 0.025533994 15-Jan-09 603.65 -0.031150594 15-Jan-09 600.5 -0.005231918 16-Jan-09 634.75 0.055468579 19-Jan-09 646.85 0.018883208 20-Jan-09 616.35 -0.048299444 21-Jan-09 583.05 -0.055542038 22-Jan-09 619.2 0.060155376 23-Jan-09 613.15 -0.009818718 27-Jan-09 647.4 0.054354737 28-Jan-09 652.15 0.007310255 29-Jan-09 627.4 -0.038690301 30-Jan-09 633.95 0.010385791 0.003529 2-Feb-09 3-Feb-09 4-Feb-09 5-Feb-09 6-Feb-09 9-Feb-09 10-Feb-09 11-Feb-09 12-Feb-09 13-Feb-09 16-Feb-09 17-Feb-09 18-Feb-09 19-Feb-09 20-Feb-09 24-Feb-09 615.8 625 634.3 628.65 647.05 665.75 663.55 673.45 650.85 651.75 637.75 632.65 640.85 648.45 642.7 636.65 -0.029047851 0.014829414 0.014770379 -0.008947366 0.028848908 0.028490653 -0.003310016 0.014809545 -0.034134553 0.001381852 -0.021714696 -0.00802901 0.012878074 0.01178948 -0.008906847 -0.009457998
Shareholding pattern & volatility of stock BHARTIARTL EQ BHARTIARTL EQ BHARTIARTL EQ BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL 74 EQ EQ EQ BL EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 25-Feb-09 26-Feb-09 27-Feb-09 2-Mar-09 3-Mar-09 4-Mar-09 5-Mar-09 5-Mar-09 6-Mar-09 9-Mar-09 12-Mar-09 13-Mar-09 16-Mar-09 17-Mar-09 18-Mar-09 19-Mar-09 20-Mar-09 23-Mar-09 24-Mar-09 25-Mar-09 26-Mar-09 27-Mar-09 30-Mar-09 31-Mar-09 1-Apr-09 2-Apr-09 6-Apr-09 8-Apr-09 9-Apr-09 13-Apr-09 15-Apr-09 16-Apr-09 17-Apr-09 20-Apr-09 21-Apr-09 22-Apr-09 23-Apr-09 24-Apr-09 27-Apr-09 640.75 652.2 638.5 616.8 601.15 600.65 601 589.75 602.25 587.75 548.45 557.65 571.3 571.55 569.75 570.7 569.4 593.2 603.7 591 621.85 621.85 609.65 625.75 614.85 638.7 659.75 662.3 666.05 663.3 685.05 667.8 680.55 688.2 719.5 712.6 707.9 749.75 743.65 0.006419311 0.017711898 -0.021229588 0.018583 -0.034576853 -0.025700335 -0.000832085 0.000582532 -0.018896216 0.020973923 -0.024370954 -0.06920557 0.016635408 0.02418294 0.000437503 -0.0031543 0.001666009 -0.002280503 0.040948435 0.017545776 -0.021261368 0.050882889 0 -0.019813884 0.026065908 0.004421 -0.017572595 0.038056525 0.032426115 0.00385765 0.005646117 -0.004137366 0.032264452 -0.025503101 0.018912567 0.011178199 0.044477033 -0.009636273 -0.006617412 0.057436977 -0.008169324
Shareholding pattern & volatility of stock BHARTIARTL EQ BHARTIARTL EQ BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL 75 EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 28-Apr-09 29-Apr-09 4-May-09 5-May-09 6-May-09 7-May-09 8-May-09 11-May-09 12-May-09 13-May-09 14-May-09 15-May-09 18-May-09 19-May-09 20-May-09 21-May-09 22-May-09 25-May-09 26-May-09 27-May-09 28-May-09 29-May-09 1-Jun-09 2-Jun-09 3-Jun-09 4-Jun-09 5-Jun-09 8-Jun-09 9-Jun-09 10-Jun-09 11-Jun-09 12-Jun-09 15-Jun-09 16-Jun-09 17-Jun-09 18-Jun-09 19-Jun-09 22-Jun-09 23-Jun-09 724.35 752.75 759.25 750.75 757.5 782.55 768.35 748.65 793.8 795.75 764.65 799.85 1003.2 915.1 859.65 852.45 859.6 810.35 771.2 768.8 795.9 820.9 804.8 800.4 798.45 816.4 826.75 813.85 812.45 834.6 854.4 828.15 819.45 809.5 802.95 804.85 807.2 790.7 786.4 -0.026295793 0.038458466 0.025847 0.008597937 -0.011258397 0.008950831 0.032534281 -0.01831246 -0.025973774 0.058559956 0.002453526 -0.039866853 0.045005997 0.22652596 -0.091916821 -0.062508019 -0.008410773 0.008352608 -0.059000912 -0.04951851 -0.003116886 0.034642692 0.03092775 0.065266 -0.0198075 -0.005482197 -0.002439254 0.022232083 0.012597921 -0.015726278 -0.0017217 0.026898194 0.0234469 -0.031205171 -0.010560914 -0.01221661 -0.008124328 0.002363479 0.002915544 -0.02065284 -0.00545306
Shareholding pattern & volatility of stock BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL 76 EQ BL EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 24-Jun-09 25-Jun-09 25-Jun-09 26-Jun-09 29-Jun-09 30-Jun-09 1-Jul-09 2-Jul-09 3-Jul-09 6-Jul-09 7-Jul-09 8-Jul-09 9-Jul-09 10-Jul-09 13-Jul-09 14-Jul-09 15-Jul-09 16-Jul-09 17-Jul-09 20-Jul-09 21-Jul-09 22-Jul-09 23-Jul-09 24-Jul-09 27-Jul-09 28-Jul-09 29-Jul-09 30-Jul-09 31-Jul-09 3-Aug-09 4-Aug-09 5-Aug-09 6-Aug-09 7-Aug-09 10-Aug-09 11-Aug-09 12-Aug-09 13-Aug-09 14-Aug-09 798.3 800 793.85 810.1 807.25 802.15 824.25 803.1 819.05 782.95 812.35 792.55 795.7 777.65 766.35 773.3 780.3 784.85 826.25 849.05 837.9 823 814.1 415.95 423.5 429.55 424.7 424 410.1 410.45 400.8 401.45 399.3 383.9 373 382.45 405.5 413.1 408.75 0.015018898 0.002127261 -0.007717201 0.02026317 -0.003524287 -0.006337787 0.015234 0.027178259 -0.025994643 0.019665893 -0.045076295 0.036862445 -0.024675687 0.003966635 -0.022945679 -0.014637567 0.009028087 0.00901139 0.005814156 0.051404774 0.027220686 -0.013219316 -0.017942561 -0.010872992 -0.671518148 0.017988453 0.014184635 -0.011355112 -0.001649582 -0.033332423 0.142045 0.000853086 -0.023791569 0.001620443 -0.005369979 -0.039330912 -0.028803682 0.025019506 0.058522948 0.018568821 -0.010585972
Shareholding pattern & volatility of stock BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL 77 EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 17-Aug-09 18-Aug-09 19-Aug-09 20-Aug-09 21-Aug-09 24-Aug-09 25-Aug-09 26-Aug-09 27-Aug-09 28-Aug-09 31-Aug-09 1-Sep-09 2-Sep-09 3-Sep-09 4-Sep-09 7-Sep-09 8-Sep-09 9-Sep-09 10-Sep-09 11-Sep-09 14-Sep-09 15-Sep-09 16-Sep-09 17-Sep-09 18-Sep-09 22-Sep-09 23-Sep-09 24-Sep-09 25-Sep-09 29-Sep-09 30-Sep-09 1-Oct-09 5-Oct-09 6-Oct-09 7-Oct-09 8-Oct-09 9-Oct-09 12-Oct-09 14-Oct-09 398.75 411.05 405.45 400.05 411.7 414.3 408.05 405.4 416.5 435.2 424.6 422.25 412.6 404.95 405 420.6 424 409.35 416.5 421.2 419.3 415.6 419.9 432.8 442.95 428.55 413.5 419.3 414.55 419.1 418.75 435.1 400.25 359.35 358.75 333.95 343.3 351.25 340.15 -0.024769068 0.030380207 -0.0137173 -0.013408022 0.028705389 0.00629542 -0.015200633 -0.006515482 0.027012228 0.043919234 -0.024658146 0.026204 -0.005549994 -0.023118955 -0.018714998 0.000123464 0.037795196 0.008051192 -0.035162919 0.017315926 0.011221319 -0.004521126 -0.008863395 0.010293328 0.03025914 0.023181169 -0.03304948 -0.035749903 0.01392914 -0.01139306 0.01091596 -0.000835472 0.021193 0.038301807 -0.083486538 -0.107792508 -0.001671077 -0.071634486 0.027613419 0.02289352 -0.032111524
Shareholding pattern & volatility of stock BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL 78 EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 15-Oct-09 16-Oct-09 17-Oct-09 20-Oct-09 21-Oct-09 22-Oct-09 23-Oct-09 26-Oct-09 27-Oct-09 28-Oct-09 29-Oct-09 30-Oct-09 3-Nov-09 4-Nov-09 5-Nov-09 6-Nov-09 9-Nov-09 10-Nov-09 11-Nov-09 12-Nov-09 13-Nov-09 16-Nov-09 17-Nov-09 18-Nov-09 19-Nov-09 20-Nov-09 23-Nov-09 24-Nov-09 25-Nov-09 26-Nov-09 27-Nov-09 30-Nov-09 1-Dec-09 2-Dec-09 3-Dec-09 4-Dec-09 7-Dec-09 8-Dec-09 9-Dec-09 325.1 326.2 332.85 328.65 332.7 337.05 331.05 330.65 306.95 317.1 311.8 292.85 300.4 305.6 319.3 320.05 307.55 293.4 299.95 298.95 302.1 302.75 296.9 296 293.4 288.75 275.25 282.5 281.75 280.45 283.65 299.55 304.55 304.75 306.8 310.1 316.4 328.55 331.2 -0.045253869 0.003377863 0.020181248 -0.012698583 0.012247828 0.012990104 -0.017961866 -0.001209007 -0.074375546 0.032532314 -0.016855225 -0.062701424 0.043036 0.025454387 0.017162137 0.043854042 0.002346134 -0.039839558 -0.04710081 0.022078928 -0.003339459 0.010481753 0.002149294 -0.019512001 -0.003035927 -0.008822589 -0.015975604 -0.047881486 0.025998775 -0.002658398 -0.004624697 0.011345628 0.054540265 0.006359 0.016553929 0.000656491 0.006704301 0.010698757 0.02011241 0.037681797 0.008033389
Shareholding pattern & volatility of stock BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL BHARTIARTL Yearly volatility EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ 10-Dec-09 11-Dec-09 14-Dec-09 15-Dec-09 16-Dec-09 17-Dec-09 18-Dec-09 21-Dec-09 22-Dec-09 23-Dec-09 24-Dec-09 29-Dec-09 30-Dec-09 31-Dec-09 342.4 331.55 319.55 316.85 325.5 324.3 317.85 310.1 321.95 326.25 321.15 325.95 325.7 329.75 0.033257222 -0.032201016 -0.036864872 -0.00848528 0.026933986 -0.003693448 -0.02008944 -0.024684747 0.037501428 0.013267705 -0.015755655 0.014835692 -0.000767283 0.012358079 0.021695 0.83745296
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Shareholding pattern & volatility of stock

SHARE HOLDING PATTERN AND VOLATILITY OF STOCK

Guided by: PROF. DIVYANG JOSHI ( FACULTY OF SGPIMS)

Late Smt. Shardaben Ghanshyambhai Patel Institute of Management Studies, Dharmaj

Shareholding pattern & volatility of stock

Place: S.G.P.I.M. Dharmaj

Jaineek Shah (Roll.No 22)

Hitendra Rathod (Roll.No 30)

Shareholding pattern & volatility of stock

Date: Place: Dharmaj

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Jaineek Shah (22) Hitendra Rathod (30)

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Introduction of stock market

The Indian stock market

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Bombay stock Exchange

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

About the SENSEX:-

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Major advantages of free float methodology:

Shareholding pattern & volatility of stock

The various stocks in the BSE and their total weightage

Shareholding pattern & volatility of stock

About The S&P CNX NSE Nifty 50

Shareholding pattern & volatility of stock

The various stocks in the Nifty and their total weightage

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Share holding pattern

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Shareholding pattern & volatility of stock

Format for shareholding pattern as describe by the SEBI

Scrip Code : Catego ry code Category of Shareholder

1 (a) (b) (c) (d) (e) (e-i) (e-ii)

Sub Total(A)(1) 2 a Foreign Individuals (NonResidents Individuals/

Shareholding pattern & volatility of stock

Foreign Individuals) Bodies Corporate Institutions Any Others(Specify)

Sub-Total (B)(1) B2 (a) (b) I

Non-institutions Bodies Corporate Individuals Individuals -i. Individual

Shareholding pattern & volatility of stock

(c) (c-i) (c-ii)

Shareholding pattern & volatility of stock

Example of share holding pattern:-

(A) Shareholding of Promoter and Promoter Group

Central Government / State Government(s)

Any Others (Specify)

Directors/Promoters & their Relatives & Friends

Total shareholding of Promoter and Promoter Group (A)

(B) Public Shareholding

Mutual Funds / UTI