MUSTAFA

A STUDY ON PERFORMANCE OF SELECTED BANKING STOCKS
CHAPTER 1
INTRODUCTION
INTRODUCTION
Finance is the life blood of business. The origin of finance, there is evidence to prove that it is
as old as human life on earth. The word finance was originally a French word. In the 18th
century, it was adopted by English speaking communities to mean „the management of
money‟. Since then, it has found a permanent place in the English dictionary. Today finance
is not merely a word else has emerged into an academic discipline of greater significance.
Finance is now organized as a branch of economics. The one word which can easily replace
finance is Exchange. Finance is nothing but an exchange of available resources. Finance is
not restricted only to the exchange and/or management of money. A barter trading system is
also a type of finance. Thus, finance is an art of managing various resources like money,
assets, investment, securities. At present, we cannot imagine a world without finance.
Finance is the soul of our economic activities. To perform any economic activity, we need
certain resources, which are to be pooled in terms of money (i.e. in the form of currency
notes, other valuables). Finance is a prerequisite for obtaining physical resources, which are
needed to perform productive activities and carrying business operation such as sales, pay
compensation, reserve for contingencies.
DEFINITION OF FINANCE
"Finance is a simple task of providing the necessary funds (money) required by the business
of entities like companies, firms, individuals and others on the terms that are most favorable
to achieve their economic objectives.
FEATURES OF FINANCE
 Investment opportunities
In finance, investment can be explained as a utilization of money for profit or return.
Investment can be done by:
a) Creating physical assets with the money such as development of land, acquiring
commercial assets.
ACHARYA BANGALORE B SCHOOL Page 1

b) Carrying on business activities like manufacturing, trading.
 Profitable opportunities
In finance, profitable opportunities are considered as an important aspiration.
a) Profitable opportunities signify that the firm must utilize its available resources most
efficiently under the condition of cut throat competitive markets.
b) Profitable opportunities shall be a vision. It shall not result in short term profits at the
expenses of long term gains.
 Optimal mix of funds

Finance is concerned with the best optimal mix of fund in order to obtain the desired
and determined result respectively.
Funds are of two types:
a) Owned fund (equity shares)
b) Borrowed fund (debentures)
 System of internal control

Finance is concerned with internal control maintained in the organization or
workplace. Internal control is set of rules and regulation framed at the inception stage
of the organization and they are altered as per the requirement of its business.
 Future decision making

A good finance is an indicator of growth and good return. This is possible only with
the good analytical decision of the organization. However, the decision shall be
framed by giving more emphasis on the present and future perspective.
IMPORTANCE OF FINANCE
i) Finance is the backbone of business enterprise.

ii) It is an important factor to set up an organisation.
iii) It includes planning of financial resources and capital structure.
iv) A firm’s existence and growth depends upon how efficiently it is able to generate
fund as and when needed.

v) It deals with effective utilization of financial resources and analysis of cost of

capital and capital budgeting tool.
OBJECTIVES OF FINANCE
The objectives of finance are as follows:
i) To ensure adequate returns to the shareholders which depend upon the earning
capacity, market price of the share, expectations of the shareholders.
ii) To maximize profit for long run.
iii) To ensure adequate supply of funds for all the needs.
iv) To plan a sound capital structure.
v) Keeping and increasing the invested money through sound financial policies and
programme.
vi) It tends to create goodwill.
vii) It deals with wealth maximization.
TYPES OF FINANCE
 Public finance
It is the study of the income and expenditure of the state. It deals only with the
finance of the government. Scope of public finance consists in the study of the
collection of funds and their allocation between various branches of state activities
which are regarded as essential duties or functions of the state.
 Private finance
It is an alternative corporate finance method that helps an organization raise cash to
avoid limited time frame monetary shortfalls. This method typically serves a firm that
is not listed on a securities exchange or is unable to seek financing on such markets.
 Personal finance
It is the application of the principles of finance to the monetary decision of an
individual or family unit. It addresses the ways in which individuals or families
obtain, budget, save and spend monetary resources over time, taking into account
various financial risks and future life events.

 Corporate finance
It is primarily concerned with maximizing shareholder value through long term and
short term financial planning and the implementation of various strategies. Corporate
finance includes planning the finance, raising the finance, investing the finance and
monitoring the finance.
THE EVOLUTION OF FINANCIAL SYSTEM
The evolution of the financial system has traveled up and down from barter system in
preindustrial economies to universal banking. The evolution of the financial system is greatly
influenced by the spread of urban society, and above all the advent the role that finance had
to play. Finance development accelerated with the expansion of the railways and especially,
with the revolutionalization of the information technology. In India, the evolution of the
financial systems reflected its political, social and economic need and aspirants. Government
has played a large role in the creation and broadcasting of the financial system and financial
deepening in the country.
The government has exerted its influence over the flow of credit, interest rates, credit control
and direction. It is also a big borrower as well as regulator of the financial system. A bulk of
the Indian financial system is in the public sector, even though co-operative and private
sectors are there to complete with other institutions.
Finance was studied as part of economics before the turn of the present century. In the
present country where the massive consolidation movement took place; finance comes to be
studied as a corporate discipline.
In 1929, finance was study of potentialities of different securities as a source of funds from
outside. It also plays the role of functions of institution agencies as a source of fund in 1930;
businessman found that their requirement couldn’t be met by banks and financial institutions.
In order to meet their requirement they needed to liquidate their inventory, the impact of this
improved the methods of planning and control. Re-organization of industries during the Post-
World War 2 period brought forward the problem of raising large amount of capital for the
industries.

In the early 50‟s the U.S. economy faced the boom on business activity and at the same time
it faced tightening of the money situation. So the companies were given to cash flow
management. The financial manager was assigned the responsibility of managing cash flow
in and a manner that industries had sufficient cash to carry out its objectives and meet its
obligation as it become due.
In the period of 1960 and 1970, interesting improvement took place in the sphere of business
finance. The financial management started about aggregate stock price, the empirical
efficiency of business sales, the profitability of institutions investors and the analytical
efficiencies of various portfolios selection criteria on new line. Thus the dimension of
business finance, which was earlier limited to periodic events, changed in recent years to
innovate the study of day to day operation of the financial management along with periodic
events.
STOCK MARKET
The stock market refers to the collection of markets and exchanges where the regular
activities of buying, selling and issuance of shares of publicly held companies take place.
Such financial activities are conducted through institutionalized formal exchanges or over-
the-counter (OTC) marketplaces which operate under the defined set of regulations. There
can be multiple stock trading venues in a country or a region which allow transactions in
stocks and other forms of securities. While both the terms - stock market and stock exchange
- are used interchangeably, the former term is a general superset of the latter. If one says that
he trades in the stock market, it means that he buys and sells shares/equity on one (or more)
of the stock exchange(s) that are part of the overall stock market.
Some of the Stock Market in India are-
1. National Stock Exchange

2. Bombay Stock Exchange
3. Delhi Stock Market
4. Calcutta Stock Exchange
5. Bangalore Stock Exchange

Though it is called stock market or equity market and is primarily known for trading
stocks/equities, other financial securities - like exchange traded funds (ETF), corporate
bonds and derivatives based on stocks, commodities, currencies and bonds - are also traded
on the stock markets.
The BSE and NSE

Most of the trading in the Indian stock market takes place on its two stock exchanges:
the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The BSE has
been in existence since 1875. The NSE, on the other hand, was founded in 1992 and started
trading in 1994. However, both exchanges follow the same trading mechanism, trading hours,
settlement process, etc. At the last count, the BSE had about 4,700 listed firms, whereas the
rival NSE had about 1,200. Out of all the listed firms on the BSE, only about 500 firms
constitute more than 90% of its market capitalization; the rest of the crowd consists of
highly illiquid shares.
Almost all the significant firms of India are listed on both the exchanges. NSE enjoys a
dominant share in spot trading, with about 70% of the market share, as of 2009, and almost a
complete monopoly in derivatives trading, with about a 98% share in this market, also as of
2009. Both exchanges compete for the order flow that leads to reduced costs, market
efficiency and innovation. The presence of arbitrageurs keeps the prices on the two stock
exchanges within a very tight range. (To learn more, see The Birth Of Stock Exchanges.)
HISTORY OF STOCK EXCHANGE IN INDIA

The first organised stock exchange in India was started in 1875 at Bombay and it is stated to
be the oldest in Asia. In 1894 the Ahmadabad Stock Exchange was started to facilitate
dealings in the shares of textile mills there. The Calcutta stock exchange was started in 1908
to provide a market for shares of plantations and jute mills.
Then the madras stock exchange was started in 1920. At present there are 24 stock exchanges
in the country, 21 of them being regional ones with allotted areas. Two others set up in the
reform era, viz., the National Stock Exchange (NSE) and Over the Counter Exchange of India
(OICEI), have mandate to have nation-wise trading.

They are located at Ahmadabad, Vadodara, Bangalore, Bhubaneswar, Mumbai, Kolkata,

Kochi, Coimbatore, Delhi, Guwahati, Hyderabad, Indore, Jaipur, Kanpur, Ludhiana, Chennai
Mangalore, Meerut, Patna, Pune, Rajkot.
The Stock Exchanges are being administered by their governing boards and executive chiefs.
Policies relating to their regulation and control are laid down by the Ministry of Finance.
Government also Constituted Securities and Exchange Board of India (SEBI) in April 1988
for orderly development and regulation of securities industry and stock exchanges.
INVESTMENT IN BANKING STOCK
MEANING OF INVESTMENT
Investment refers to sacrifice to some present surplus for the future reward to meet the future
needs. An investment is an asset or item that is purchased with the hope that it will generate
income or will appreciate in the future. In an economic sense, an investment is the purchase
of goods that are not consumed today but are used in the future to create wealth. In finance,
an investment is a monetary asset purchased with the idea that the asset will provide income
in the future or will be sold at a higher price for a profit. An investment deals with higher the
risk higher will be the return and vice versa.
Thus, an investment may be defined as “a commitment of funds made in the expectation of

some positive rate of return”. Expectation of return is an essential element of investment.
Therefore, every investment involves return and risk.
CONCEPT OF INVESTMENT
Investment is an activity that is engaged in by people who have savings that means
investment are made from savings, or in other words, people invest their savings. But all
savers are not investors. Investment is an activity which is different from saving. Investment
is the sacrifice of some present surplus for the future reward keeping in mind the future
needs. People and organization do not like to keep their surplus cash idle as idle cash do not
bring return and hence like to invest their surplus in certain assets. An individual who has
surplus income would either invest in financial assets like securities or deposit in bank or in

real assets like properties, gold or other asset. Similarly a business that has excess cash
reserves they invest in certain securities or in a new venture.
However, all those who invest do not benefit from it. One has to keep in mind that investment
is a risky activity. Investment is an art and in order to benefit from it, the investors should
acquire the requisite knowledge. As a person or business is parting with their surplus they
should be careful while investing. Again the degree of risk varies depending upon the type of
investment. The equity shares offer attractive return but carry high risk as they are market
linked while debt instruments like government bond gives less return but are less risky. To
reduce the risk in investment and maximize the return, the investors have to study the
investment alternatives carefully before investing. Investment basically involves in the
resources which have been saved in the hope that some benefits will accrue in future.
CHARACTERISTICS OF INVESTMENT
The characteristics features of investment are as follows:
i) Return: All investments are characterized by the expectation of a return. In fact,

investments are made with the primary objective of deriving a return. The return
may be received in the form of yield plus capital appreciation. The difference
between the sale price and the purchase price is capital appreciation. The dividend
or interest received from the investment is the yield. The return from an
investment depends upon the nature of the investment, the maturity period and a
host of other factors.
ii) Risk: Risk refers to the loss of principal amount of an investment. It is one of the
major characteristics of an investment. Risk is inherent in any investment. Risk
may relate to loss of capital, delay in payment of capital, non-payment of interest,
or variability of returns. While some investment like government securities and
bank deposits are almost riskless, others are more risky. Risk and return of
investment are related. The higher the risk, the higher is the return. The risk of an
investment depends on the following factors:
a) The longer the maturity period, the larger is the risk.
b) The lower the credit worthiness of the borrower, the higher is the risk.

c) The risk varies with the nature of investment. Investment in ownership

securities like equity shares carry higher risk compared to investment in debt
instrument like debenture and bonds.
iii) Safety: the safety of an investment implies the certainty of return of capital
without loss of money or time. Safety is another feature which an investor desires
for his investment. Every investor expects to get back his capital on maturity
without loss and without delay. If investor prefers less risk securities, he chooses
Government bonds. In the case, investor prefers high rate of return investor will
choose private Securities and Safety of these securities is low.
iv) Liquidity: Liquidity refers to an investment ready to convert into cash position. In
other words, it is available immediately in cash form. Liquidity means that
investment is easily realizable, saleable or marketable. When the liquidity is high,
then the return may be low. An investor generally prefers liquidity for his
investment, safety of funds, a good return with minimum risk and maximisation of
return.
ROLE OF AN EQUITY/STOCK RESEARCH ANALYST

Equity research analysts study the movements of the stock market, especially specific
business stocks.
Companies constantly produce large amounts of information regarding their financial status,
their success in business markets and their current investments. Much of this information is
required for legal purposes, but it also provides necessary data for the stock market. Most
investors do not have the time or resources to follow this massive amount of company
information. Equity research analysts work to compile this data, along with relevant market
information, to provide investors with useful recommendations.
Definition
In stock market terms, "equity" refers to ownership of a business, which a business can sell as
shares to interested investors. An equity research analyst specializes in examining what
shares are for sale, what shares are selling well and what companies appear to be growing and
will be worthwhile investments. Equity research analysts also track which stocks are falling
so they can point out trends and provide useful information to brokers and investors.

Process
Analysts spend much of their time analyzing individual stocks, especially stocks that have
earned a lot of interest due to changing value. They look at the company that issued the stock
and its history, then analyze the company's industry as a whole and what major changes are
influencing it. The analyst will then look at businesses similar to the company they are
studying to find information about overall value and average earnings for that kind of
business.
Common Tasks
Equity research analysts have many different jobs. Once they have compiled information,
many use basic formulas and programs to create financial models of specific companies and
industries, or ratios that show important facts about a business's financial standing. Many
follow up these models by writing reports for investors summarizing their findings. Some
may tap into independent sources and contacts to keep up on recent events. All research
analysts must ensure they use only publicly available knowledge and not illegal, insider
information.
Market Influence
Equity research analysts tend to be influenced by current events, and many tend to make
recommendations based on market activity. This means that as the market changes, analysts'
attitudes also change to mirror current interest. This can create a tendency for some analysts
to become myopic, only reporting on popular news and backing certain stocks because they
are trendy in the short term
BANKING SECTOR
The banking section will navigate through all the aspects of the Banking System in India. It
will discuss upon the matters with the birth of the banking concept in the country to new
players adding their names in the industry in coming few years.
As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalized and
well-regulated. The financial and economic conditions in the country are far superior to any

other country in the world. Credit, market and liquidity risk studies suggest that Indian banks
are generally resilient and have withstood the global downturn well.
Indian banking industry is expected to witness better growth prospects in 2016 as a sense of
optimism stems from the Government’s measures towards revitalizing the industrial growth
in the country. In addition, RBI’s new measures may go a long way in helping the
restructuring of the domestic banking industry.
However, in the introduction part of the entire banking cosmos, the past has been well
explained under three different heads namely:
 History of Banking in India

 Nationalization of Banks in India
 Scheduled Commercial Banks in India
The first deals with the history part since the dawn of banking system in India. Government
took major step in the 1969 to put the banking sector into systems and it nationalized 14
private banks in the mentioned year. This has been elaborated in nationalization of Banks in
India. The last but not the least explains about the scheduled and unscheduled banks in India.
Section 42 (6) (a) of RBI Act 1934 lays down the condition of scheduled commercial banks.
HISTORY OF BANKING IN INDIA

Without a sound and effective banking system in India it cannot have a healthy economy. The
banking system of India should not only be hassle free but it should be able to meet new
challenges posed by the technology and any other external and internal factors.
For the past three decades India's banking system has several outstanding achievements to its
credit. The most striking is its extensive reach. It is no longer confined to only metropolitans
or cosmopolitanism India. In fact, Indian banking system has reached even to the remote
corners of the country. This is one of the main reasons of India's growth process.
The government's regular policy for Indian bank since 1969 has paid rich dividends with the
nationalization of 14 major private banks of India.
Not long ago, an account holder had to wait for hours at the bank counters for getting a draft
or for withdrawing his own money. Today, he has a choice. Gone are days when the

most efficient bank transferred money from one branch to other in two days. Now it is simple
as instant messaging or dial a pizza. Money have become the order of the day.
The first bank in India, though conservative, was established in 1786. From 1786 till today,
the journey of Indian Banking System can be segregated into three distinct phases. They are
as mentioned below:
 Early phase from 1786 to 1969 of Indian Banks

 Nationalization of Indian Banks and up to 1991 prior to Indian banking sector
Reforms.
 New phase of Indian Banking System with the advent of Indian Financial & Banking
Sector Reforms after 1991.
The first bank in India, though conservative, was established in 1786. From 1786 till today,
the journey of Indian Banking System can be segregated into three distinct phases. They are
as mentioned below:
 Early phase from 1786 to 1969 of Indian Banks

 Nationalization of Indian Banks and up to 1991 prior to Indian banking sector
Reforms.
 New phase of Indian Banking System with the advent of Indian Financial & Banking
Sector Reforms after 1991.
Phase I The General Bank of India was set up in the year 1786. Next came Bank of
Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809),
Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it
Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India
was established which started as private shareholders banks, mostly European shareholders.
In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab
National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913,
Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank
of Mysore were set up. Reserve Bank of India came in 1935.
During the first phase the growth was very slow and banks also experienced periodic failures
between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline
the functioning and activities of commercial banks, the Government of India came up with
The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949
as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with
extensive powers for the supervision of banking in India as the Central Banking Authority.
During those day’s public had lesser confidence in the banks. As an aftermath deposit
mobilization was slow. Abreast of it the savings bank facility provided by the Postal
department was comparatively safer. Moreover, funds were largely given to traders.
Phase II Government took major steps in this Indian Banking Sector Reform after
independence. In 1955, it nationalized Imperial Bank of India with extensive banking
facilities on a large scale especially in rural and semi-urban areas. It formed State Bank of
India to act as the principal agent of RBI and to handle banking transactions of the Union and
State Governments all over the country.
Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th July,
1969, major process of nationalization was carried out. It was the effort of the then Prime
Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country were
nationalized.
Second phase of nationalization Indian Banking Sector Reform was carried out in 1980 with
seven more banks. This step brought 80% of the banking segment in India under Government
ownership.
The following are the steps taken by the Government of India to Regulate Banking
Institutions in the Country:
1949: Enactment of Banking Regulation Act.
1955: Nationalization of State Bank of India.
1959: Nationalization of SBI subsidiaries.
1961: Insurance cover extended to deposits.
1969: Nationalization of 14 major banks.
1971: Creation of credit guarantee corporation.

1975: Creation of regional rural banks.
1980: Nationalization of seven banks with deposits over 200 crore.
After the nationalization of banks, the branches of the public sector bank India rose to
approximately 800% in deposits and advances took a huge jump by 11,000%.
Banking in the sunshine of Government ownership gave the public implicit faith and
immense confidence about the sustainability of these institutions.
Phase III This phase has introduced many more products and facilities in the banking sector
in its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was
set up by his name which worked for the liberalization of banking practices.
The country is flooded with foreign banks and their ATM stations. Efforts are being put to
give a satisfactory service to customers. Phone banking and net banking is introduced. The
entire system became more convenient and swift. Time is given more importance than
money.
The financial system of India has shown a great deal of resilience. It is sheltered from any
crisis triggered by any external macroeconomics shock as other East Asian Countries
suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high, the
capital account is not yet fully convertible, and banks and their customers have limited
foreign exchange exposure.
Currently Pradhan Mantri Jan Dhan Yojana is a scheme for comprehensive financial

inclusion launched by the Prime Minister of India, Narendra Modi, in 2014. Run
by Department of Financial Services, Ministry of Finance, on the inauguration day, 1.5 Crore
(15 million) bank accounts were opened under this scheme. By 15 July 2015,
16.92 crore accounts were opened, with around Rs. 20288.37 crore (US$3.0 billion) were
deposited under the scheme, which also has an option for opening new bank accounts with
zero balance.
INFLUENCE OF DEMONITIZATION ON BANKING SECTOR

After sharp rise in deposits on post demonetization, banks started lending such surplus
Demonetization is a tool to battle Inflation, Black Money, Corruption and Crime, discourage
a cash dependent economy and help trade. Its policy of the government by banning Rs. 500
and Rs.1000 currency notes has influenced almost all the corners of the economy.

Influence of Demonetization on Indian Economy
• Increase in Deposits: Demonetization has increased the deposits in Banks. Unaccounted

money in the form of Rs.500 and Rs.1000 were flowing to the Banks and the sizes of deposits
have been increased. It helped the banks to grab the deposits and increase their deposits.
Bulk of the deposits so mobilised by SCBs have been deployed in:
(i) reverse repos of various tenors with the RBI; and
(ii) cash management bills (CMBs) issued under the Market Stabilisation Scheme (which is a
part of investment in government securities in the balance sheet of banks). Loans and
advances extended by banks increased by Rs.1,008 billion. The incremental credit deposit
ratio for the period was only 18.2 per cent. Additional deposits mobilised by commercial
banks have been largely deployed in liquid assets.
• Fall in cost of Funds: Over the past few months, the deposits are increased. It led the banks
to keep a major part of deposits in the form of cash deposits. PSU Banks have a lion share
(over 70%) of the deposits and biggest gainers of the rise in deposits, leading to lower cost of
funds. Surplus liquidity conditions have helped facilitate the transmission of monetary policy
to market interest rates. Post demonetisation, several banks lowered their domestic term
deposit rates and lending rates. The median term deposit rates of SCBs declined by 38 bps
during November 2016-February 2017, while the weighted average term deposit rate of
banks declined by 24 bps (up to January 2017). Combined with the sharp increase in low cost
CASA deposits, the overall cost of borrowings declined, allowing banks to reduce their
lending rates.
• Demand for Government Bonds: deposits to the RBI under the reverse repo options. PSU
Banks, particularly, deployed excess funds in government bonds. The return on bond
investment is likely to add 15 to 20 per cent increase in the earnings of banks.
• Sagginess in Lending: Lending growth of the banks is considerably less even after

demonetization and its impact of growth in the amount of public deposit. Banks have tried to

lend the money to the needy group by reducing their interest rates, but it shrunk over the last
few months.
SCHEDULDED COMMERCIAL BANKS IN INDIA

The commercial banking structure in India consists of:
 Scheduled Commercial Banks in India
 Unscheduled Banks in India
Scheduled Banks in India constitute those banks which have been included in the Second
Schedule of Reserve Bank of India (RBI) Act, 1934. RBI in turn includes only those banks in
this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act.
As on 30th June, 1999, there were 300 scheduled banks in India having a total network of
64,918 branches. The scheduled commercial banks in India comprise of State bank of India
and its associates (8), nationalized banks (19), foreign banks (45), private sector banks (32),
co-operative banks and regional rural banks. "Scheduled banks in India" means the State
Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), a subsidiary
bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), a
corresponding new bank constituted under section 3 of the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970 (5 of 1970), or under section 3 of the Banking
Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), or any other
bank being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2
of 1934), but does not include a co-operative bank".
"Non-scheduled bank in India" means a banking company as defined in clause (c) of section
5 of the Banking Regulation Act, 1949 (10 of 1949), which is not a scheduled bank".


The following are the Scheduled Banks in India (Public Sector):
 
 State Bank of India  Central Bank of India
 State Bank of Bikaner and Jaipur  Corporation Bank
 State Bank of Hyderabad  Dena Bank
 State Bank of Indore  Indian Overseas Bank
 State Bank of Mysore  Indian Bank
 State Bank of Saurashtra  Oriental Bank of Commerce
 State Bank of Travancore  Punjab National Bank
 Andhra Bank  Punjab and Sind Bank
 Allahabad Bank  Syndicate Bank
 Bank of Baroda  Union Bank of India
 Bank of India  United Bank of India
 Bank of Maharashtra  UCO Bank
 Canara Bank  Vijay Bank
The following are the Scheduled Banks in India (Private Sector):
 
 ING Visa Bank Ltd  HDFC Bank Ltd
 Axis Bank Ltd  Centurion Bank Ltd
 Indus land Bank Ltd  Bank of Punjab Ltd
 ICICI Bank Ltd  IDBI Bank Ltd
 South Indian Bank  Jammu & Kashmir Bank Ltd.

The following are the Scheduled Foreign Banks in India:
 
 American Express Bank Ltd.  Citi Bank N.C.
 ANZ Grid lays Bank Plc.  Deutsche Bank A.G.
 Bank of America NT & SA  Hong Kong and Shanghai Banking Corporation
 Bank of Tokyo Ltd.  Standard Chartered Bank.
 Banquc Nationale de Paris  The Chase Manhattan Bank Ltd.
 Barclays Bank Plc  Dresdner Bank AG.
Broad Classification of Banks in India:
1) The RBI: The RBI is the supreme monetary and banking authority in the country and has the
responsibility to control the banking system in the country. It keeps the reserves of all
scheduled banks and hence is known as the “Reserve Bank”.
2) Public Sector Banks:
 State Bank of India and its Associates (6)
 Nationalized Banks (19)
 Bharatiya Manilas Bank& IDBI Bank
 Regional Rural Banks Sponsored by Public Sector Banks
3) Private Sector Banks:

 Old Generation Private Banks (22)
 Foreign New Generation Private Banks (8)
 Banks in India (40)
4) Co-operative Sector Banks:

 State Co-operative Banks
 Central Co-operative Banks
 Primary Agricultural Credit Societies
 Land Development Banks
 State Land Development Banks

5) Development Banks: Development Banks mostly provide long term finance for setting up
industries. They also provide short-term finance (for export and import activities)
 Industrial Finance Co-operation of India (IFCI)
 Industrial Development of India (IDBI)
 Industrial Investment Bank of India (IIBI)
 Small Industries Development Bank of India (SIDBI)
 National Bank for Agriculture and Rural Development (NABARD)
 Export-Import Bank of India.
Organizational Structure of Banks in India
PRODUCTS AND SERVICES OFFERED BY BANKS:
Broad Classification of Products in a bank:
The different products in a bank can be broadly classified into:
 Retail Banking. Reserve Bank of India
 Trade Finance.
 Treasury Operations.
Commercial Banks Co-operative Banks Development Banks
Nationalized Private Short-term Long-term

credit credit
Agricultural Urban EXIM Industrial Agricultural

Credit Credit
Retail Banking and Trade finance operations are conducted at the branch level while the
wholesale banking operations, which cover treasury operations, are at the hand office or a
designated branch.
Retail Banking:
 Deposits
 Loans, Cash Credit and Overdraft
 Negotiating for Loans and advances
 Remittances
 Book-Keeping (maintaining all accounting records)

 Receiving all kinds of bonds valuable for safe keeping

Trade Finance:
 Issuing and confirming of letter of credit.
 Drawing, accepting, discounting, buying, selling, collecting of bills of exchange,
promissory notes, drafts, bill of lading and other securities.
Treasury Operations:
 Buying and selling of bullion. Foreign exchange
 Acquiring, holding, underwriting and dealing in shares, debentures, etc.
 Purchasing and selling of bonds and securities on behalf of constituents.
The banks can also act as an agent of the Government or local authority. They insure,
guarantee, underwrite, participate in managing and carrying out issue of shares, debentures,
etc.
Apart from the above-mentioned functions of the bank, the bank provides a whole lot of other
services like investment counseling for individuals, short-term funds management and
portfolio management for individuals and companies. It undertakes the inward and outward
remittances with reference to foreign exchange and collection of varied types for the
Government.
Following Services Can Be Availed On The Internet:

 Bill Payment
 Funds Transfer
 Special Promotions & Offers
 Ticket Booking
 Online loans and credit cards
 Online Shopping

CHAPTER 2
RESEARCH DESIGN
Research design and methodology is the conceptual structure and frame work with in which

Research is conducted. It constitutes the blue print for the collection, measurement and
analysis of data. Research design pertains to decisions regarding what, when and how much
to buy what concerning on inquiry or a research programme. According to “Kiplinger”
research design is the plan structure and strategy of investigation conceives so as to obtain
answer to research question and to control variances.
TITLE OF THE STUDY-
“A COMPARATIVE ANALYSIS OF CAPITAL STRUCTURE OF

TECHCDO, BANGALORE”
STATEMENT OF PROBLEM
To suggest the investors to make investment in good stocks using technical analysis.Stock
investment requires meticulous planning and careful evaluation of the underlying stock
before making investment. A statistical data in the recent past indicated that 95 per cent of the
investors in the stock markets are losers, since they undertake investment without any
information and without discipline.
 Which stock to invest?

 What type of security to buy?
 When to sell the securities?
 Where to Invest?
 How to Invest?
 Whether hold, sell or buy securities?
It is much required for the investors to study the market and market related risk and to
understand market psychology so that they can make optimal decisions.
OBJECTIVES OF THE STUDY-
The objective of the study is to analyse , in detail movement of stock prices in banking sector
in India and to evaluate performance of different securities floated by the most preferred bank
in public and private sector.
 To know the movements of stock prices of selected company stocks through

Technical analysis.
 To analyze the risk involved in the selected companies share price.
 To know how best we can utilize these analyses to meet the financial goals.
 To suggest better ways and means for the investors to enhance the knowledge about
stock investment in the secondary market.
SCOPE OF THE STUDY
The scope of the study is identified after and during the study is conducted. The project is
based on tools like technical analysis. Further, the study is based on information of last two
years.
To help the investor in making decisions based on report. Analysis of the shares of
companies.
Studying the stock price movement of the security market helps to identify trend reversals at
an earlier stage to formulate the buying and selling strategy.
RESEARCH METHODOLOGY
Research Design
Research design is the procedure of collecting, analyzing and interpreting the data to
diagnose the problem and react to the opportunity in such a way where the costs can be
minimized and the desired level of accuracy can be achieved to arrive at a particular
conclusion.
The sample of the stocks for the purpose of collecting secondary data has been selected on
the basis of convenient sampling. The stocks are chosen in an unbiased manner and each
stock is chosen independent of the other stocks chosen. The stocks are chosen from the
Banking sector.
The sample size for the number of stocks is four for technical analysis of stocks as technical
analysis requires detailed study. For these four stocks technical analysis is done.

The validity of any research is based on the systematic method of data collection and
analysis. Secondary data from website, newspapers are used for the present study. Analytical
research design has been used in this study.
Sources of Data Collection:
Appropriate statistical tools have been made use of wherever necessary. The data was
collected from published sources and discussions held with officials of the SATCO
CAPITAL MARKET LTD
 Primary Data
Primary sources of data are those sources in which data are collected through original
investigation. In other words, it is a process in which statistical data are collected first hand.
In my study this was collected through personal interview with designated officer and
manager of SATCO CAPITAL MARKET LTD
 Secondary Data
Secondary sources of data are those in which the data is already collected and published are
assembled. The data so collected are called the secondary data. The task of gathering
secondary data is the task of compilation of data from various published sources.
This was collected through the,
a) Bank records.
b) Annual reports.
c) Text book.
d) Information from internet.
Data Collection Method:

To carry out this project, secondary data was collected which is the closing stock prices of
the following companies:
 State Bank India.

 ICICI Bank Ltd.
 HDFC Bank Ltd.

 Bank of Baroda Ltd.
Statistical Tools used:
 Simple Moving Average

 Relative Strength Index
 Rate of Change Indicator
REVIEW OF LITERATURE
Cooter (1962) found that the stock prices move at random when studied at one week interval.
The data for his study was weekend prices of forty five stocks from New York stock
exchange .He tested randomness of share by means of a mean square successive difference
test. He concluded that there was not one random walk model. He concluded that the share
price trends could be predicted when studied at fourteen week interval.
Taylor and Allen (1992) conducted a survey on the use of technical analysis among chief
foreign exchange dealers in the London market in 1988. The results indicated that 64% of
respondents reported using moving averages and/or other trend-following systems and 40%
reported using other trading systems such as momentum indicators or oscillators.
Fernando Fernandez –Rodriguez, Simon Sosvilla –Rivero, Julian Andrada –Felix (1999)
assessed whether some simple forms of technical analysis can predict stock price movement
in the Madrid stock exchange, covering thirty-one-year period from Jan 1966–Oct 1997.the
results provide strong support for profitability of those technical trading rules. By making use
of bootstrap techniques the author shows the returns obtained from these trading rules are not
consistent with several null models frequently used in finance.
Cheung, Chinn, and Marsh (2000) surveyed the views of UK-based foreign exchange
Dealers on technical analysis in 1998 and found that 26% of the dealers responded that
technical trading is the most important factor that determines exchange rate movements over
the medium run.

Oberlechner (2001) reported findings from a survey on the importance of technical and
fundamental analysis among foreign exchange traders and financial journalists in Frankfurt,
London, Vienna, and Zurich in 1996. For foreign exchange traders, technical analysis seemed
to be a more important forecasting tool than fundamental analysis up to a 3- month
forecasting13 horizon, while for financial journalists it seemed to be more important up to 1-
month.
Cheung and Chinn (2001) published survey results for US-based foreign exchange traders
conducted in 1998. In the survey, about 30% of the traders indicated that technical trading
best describes their trading strategy. About 31% of the traders responded that technical
trading was the primary factor determining exchange rate movements up to 6 months.
Ravindra and Wang (2006) examine the relationship of trading volume to stock indices in
Asian markets. Stock market indices from six developing markets in Asia are analyzed over
the 34 month period ending in October 2005. In the South Korean market, the causality
extends from the stock indices to trading volume while the causality is the opposite in the
Taiwanese market.
R.Chitra (2011) has performed technical analysis of selected stocks of Energy sector and has
found that technical analysis is a useful tool for prediction of stock prices for a short term.
NEED OF THE STUDY
To start any business capital plays a major role. Capital can be acquired in two ways by
issuing shares or by taking debt from financial institutions or borrowing money from
financial institutions. The owners of the company have to pay regular interest and principal
amount at the end.
Stock is ownership in a company, with each share of stock representing a tiny piece of
ownership. The more shares you own, the more of the company you own. The more shares
you own, the more dividend you earn when the company makes profit. In the financial world,
ownership is called “Equity”.
Advantages of selling stock:

 A organization can raise more capital than it could borrow.

 A organization does not have to make periodic interest payments to creditors.
 A organization does not have to make principal payments.
 Stock/shares play a major role in acquiring capital to the business in return investors
are paid dividends to the shares they own. The more shares you own the more
dividends you receive. The role of equity analysis is to provide information to the
market. An efficient market relies on information: a lack of information creates
inefficiencies that result in stocks being misrepresented (over or under valued). This is
valuable because it fills information gaps so that each individual investor does not
need to analyze every stock there by making the markets more efficient. If there is no
equity analysis investor may invest in wrong stocks and finally end up in loses.
LIMITATIONS OF THE RESEARCH
 The analysis is focused on four banking companies.

 The study excludes Fundamental Analysis, which is one of the most important
techniques of analysis.
 The study focuses on the companies already existing in the Securities Market and it
excludes the companies that newly listed ones into the market.
 Times period of the study is too short.
CHAPTER SCHEME
Chapter 1 – Introduction
This chapter deals with theoretical overview of the financial evolution, Investment in
Banking Stock and about Banking sector
Chapter 2 – Research design

This chapter explains the research design i.e. objective of the study, tools and technique for
data collection and limitation of the study.

Chapter 3 – Profile of the bank

This chapter gives the profile of SATCO CAPITAL MARKET LTD.
Chapter 4 Data Analysis and Interpretation

This chapter analyzes and interprets the data collected with the help of different tools and
Techniques.
Chapter 5 – Summary of Findings, Suggestion And Conclusion

This chapter contains summary of findings gives out the analysis done during the study.
Bibliography and annexure

This contains the balance sheet, profit and loss account, and it also contains which source of
publication is used.
CHAPTER 3
COMPANY PROFILE
ABOUT THE INDUSTRY

The word “Bank” has been originally derived from the Italian word „Blanco‟, meaning a
bench. In the olden days, money lenders used to exhibit the coins of different countries on a
separate bench and the business of exchanging the coins were carried on through those
money lenders, especially in Greece, Italy and England. The bank has also originated from
public for the purpose of financing the needy people. Even through banking as an
independent business originated during the fourteen century in England. The business of
existed in its most simple from in the ancient Babylonian, Egyptian and Jewish nations.
Different Types of Banks in India
1. Commercial banks.
2. Development banks.
3. Co-operative banks.
4. Land development banks.
5. Investment banks.
6. Merchant banks.
7. Foreign banks.
8. Central bank.
SELECTED BANKS PROFILE
 Bank of Baroda Ltd.

 State Bank India.
 HDFC Bank Ltd.
 ICICI Bank Ltd.
BANK OF BARODA

Type Public
BSE: 532134
Traded as
NSE: BANKBARODA
CNX Nifty Constituent
Industry Banking, Financial services
Founded 20 July 1908; 110 years ago
Founder Maharaja H. H. Sir Sayajirao Gaekwad III
Headquarters Vadodara, Gujarat, India
Number of locations 5481 branch banks (2017)
Area served Worldwide
Key people P. S. Jayakumar

(MD & CEO)
Products Consumer banking

Corporate banking
Credit cards
Finance and insurance
Investment banking
Mortgage loans
Private banking
Private equity
Wealth management
Revenue ₹9.92 crore(US$1.4 million) (2017)
₹1.27 crore (US$180,000) (2016)
Operating income ₹5.07 crore (US$710,000) (2017)

₹15.58 crore(US$2.2 million) (2016)
Net income ₹3.14 crore (US$440,000) (2017)

₹-.54 crore (US$−75,000) (2016)
Total assets ₹75.42 crore(US$10 million) (2017)

₹6.48 crore (US$900,000) (2016)
Number of employees 52,420 (2017)

52,021 (2016)
Capital ratio 13.17% (2016)
Website www.bankofbaroda.com
SHARE HOLDING PATTERN OF BANK OF BARODA
No of Shares
4% 3%
10%
12%
59%
12%
Promoters ForeignInstitutions FinancialInstitutions

NBanksMutualFunds GeneralPublic Others
HONOURS
1. Best Public Sector Bank Award under the category of Global Business at the Dun &
Bradstreet Banking Awards 2015.
2. The Government of India awarded Bank with the 1st Prize in the Indira Gandhi
Rajbhasha Shield
3. Competition in Region 'B'. on Hindi Diwas 2014. Further, Bank was awarded first prize
for 'B' Region and second prizes for Region 'A' and 'B' by Reserve Bank of India (RBI)
under the RBI Rajbhasha Shield Competition.
4. BML Munjal award in Public Sector Category for Business Excellence Through Learning
& Development –2015.
5. Excellence in Banking (PSU Sector) at the 5th My FM Stars of the Industry Awards
recently held in Mumbai on 30.01.2015
6. National Prize – First Rank in Innovative Training Practices for the year 2014 from
Indian Society for Training and Development‖ (ISTD).
7. Golden Peacock National Training Award for the year 2014 under the aegis of Institute of
Directors, New Delhi.

8. Champion of Champions Award at the 54th annual ABCI Awards 2015, for 6 Categories-
Indian
9. Language Publication – Bronze; Exhibition Collateral – Gold; Wall Calendar 2014 –

Silver; Environmental Communication – Silver; E-Zine – Bronze; Corporate Film – Gold.
10. 3 Awards at the IBA Banking Technology Awards 2014 – 15, Winner in Best Financial
Inclusion
11. Initiative; First Runner up in Training & Human Resources, E - learning Initiatives; First
Runner up in ―Best Use of Data.
12. Best Bank - Global Business Development (Public Sector) & Best Bank – Overall (Public
Sector) Award in Dun & Bradstreet – Polaris Financial Technology Banking Awards
2014.
13. Skoch Order of Merit in India‘s Best 2014 Financial Inclusion & Deepening Awards
2014.
14. ASSOCHAM Social Banking Excellence Award under Public Sector Banks category, in
recognition of the significant initiatives being undertaken by the Bank in social banking
sphere.
15. The Most Efficient Public Sector Bank‘ for the year 2014 by Dalal Street Investment
Journal in the Best PSU‘s of India Awards‘.
RECENT DEVELOPMENTS
1. Bank of Baroda acquired the semi naming rights of Sikanderpur Metro Station in
Gurugram. This is the first time that a public sector bank has bagged the naming right
of a metro station.
2. Bank of Baroda sealed a 3-year principal sponsorship contract with Olympics 2016
Women's badminton Silver medalist PVSindhu and India's No 1 ranked Men's
Badminton player K Srikanth.
3. Bank of Baroda became the first National Supporter (Indian sponsor) of the FIFA U-
17 World Cup India 2017, the first football World Cup to be hosted in India.
MERGER

On 17 September 2018, The Finance Ministry of the Government of India proposed to merge
the three three state run banks i.e. Vijaya Bank, Bank of Baroda and Dena Bank into a single
bank as an effort to consolidate the country's banking system. The amalgamated bank is to
become the third biggest bank in India with a total business of more
than ₹14,820,000,000,000 (US$ 210 billion). The boards of the three
banks are to meet to consider the proposal. The agenda behind the
merger of the banks is to lower Non-performing assets. The
Gross NPA OF the Bank of Baroda, Vijaya Bank and Dena Bank is 12.4%, 6.9% and 22%
respectively. The Dena Bank is currently operating under the Prompt Corrective Action
(PCA) framework due to non-performing loans
STATE BANK OF INDIA
Native name भारतीय स्टे ट बैं क
Formerly Imperial Bank of India
Type Public, majority of shares owned by Government of India
Traded as NSE: SBIN

BSE: 500112
LSE: SBID
BSE SENSEX Constituent
Industry Banking, financial services
Predecessor  Imperial Bank of India(1921-1955)

 Bank of Calcutta(1806-1921)
 Bank of Bombay(1840-1921)
 Bank of Madras(1843-1921)
Founded 2 June 1806, Bank of Calcutta
15 April 1840, Bank of Bombay
1 July 1843, Bank of Madras
27 January 1921, Imperial Bank of India
1 July 1955, State Bank of India
Headquarters State Bank Bhawan, M.C. Road, Nariman Point, Mumbai, Maharashtra,
India
Number of 24,000
locations
Key people Rajnish Kumar

(Chairman)
Products Retail banking, corporate banking, investment banking, mortgage

loans, private banking, wealth management, credit cards, finance and
insurance
Revenue ₹265,100 crore(US$37 billion)(2018)
Operating income ₹15,528 crore(US$2.2 billion) (2018)
Net income ₹6,547 crore(US$910 million) (2018)
Total assets ₹3,312,461 crore(US$460 billion) (2018)

Owner Government of India(61.23%)
Number of 264,041 (2018)

employees
Parent SBI Group
Website sbi.co.in
SHARE HOLDING PATTERN OF STATE BANK OF INDIA
No of Shares
6% 3%0%
6%
23%
61%
Promoters FinancialInstitutions GeneralPublic

NBanksMutualFunds Others CentralGovt
MERGING ASSOCIATE BANKS WITH THE STATE BANK OF INDIA

In August 2017, the Lok Sabha passed the State Banks (Repeal and Amendment) Bill of 2017
to amend the State Bank of India (SBI) Act of 1955 to remove references related to
subsidiary banks.
After the acquisition of subsidiary banks by the SBI, subsidiary banks have ceased to exist.
Therefore, the government found it necessary to repeal the SBI (Subsidiary Banks) Act of
1959 and the State Bank of Hyderabad Act of 1956.
The government has also found it unnecessary to retain certain provisions in the SBI Act,
1955, which apply to subsidiary banks. These subsidiary banks — State Bank of Bikaner and
Jaipur, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore — were
constituted under the SBI (Subsidiary Banks) Act of 1959.
The State Bank of Hyderabad was originally constituted as Hyderabad State Bank under the
Hyderabad State Bank Act and renamed as the State Bank of Hyderabad under sub-section
(1) of Section 3 of the State Bank of Hyderabad Act of 1956.
To rationalise resources, reduce costs, improve profits, for lower cost of funds leading to
better rate of interest for the public, and to improve productivity and customer service, the
SBI, with the sanction of the Central government and in consultation with the Reserve Bank
of India (RBI), entered into negotiations with the State Bank of Bikaner and Jaipur, the State
Bank of Mysore, the State Bank of Patiala, the State Bank of Travancore and the State Bank
of Hyderabad for acquiring their business, including assets and liabilities. The schemes
relating to such acquisitions were agreed upon by the Central Board of the SBI and the
respective boards of the subsidiary banks and approved by the RBI. In exercise of the powers
conferred by sub-section (2) of Section 35 of the SBI Act, 1955, the Central government
accorded its sanction.
Accordingly, the Central government issued the following orders, sanctioning the scheme of
acquisition: (a) the Acquisition of State Bank of Bikaner and Jaipur Order, 2017; (b) the
Acquisition of State Bank of Mysore Order, 2017; (c) the Acquisition of State Bank of Patiala
Order, 2017; (d) the Acquisition of State Bank of Travancore Order, 2017; and (e) the
Acquisition of State Bank of Hyderabad Order, 2017. As per these, the business of these
subsidiary banks is to be carried out by the SBI in accordance with the SBI Act, 1955, with
effect from April 1, 2017.

RECENT REWARDS AND RECOGNITION
 SBI was ranked 232nd in the Fortune Global 500 rankings of the world's biggest
corporations for the year 2016.
 SBI was 50th most trusted brand in
India as per the Brand Trust
Report 2013,[30] an annual study
conducted by Trust Research Advisory, a brand analytics company and subsequently, in
the Brand Trust Report 2014, SBI finished as India's 19th most trusted brand in India.
HDFC BANK
Type Public
Traded as BSE: 500180
NSE: HDFCBANK
NYSE: HDB
Industry Banking, financial services
Founded August 1994; 24 years ago
Headquarters Mumbai, Maharashtra, India
Area served India
Key people Shyamala Gopinath

(Non-Exe Chairperson)[1]

Aditya Puri
(Managing Director)[2] [3]
Products Credit cards, consumer banking, banking, finance and insurance, investment
banking, mortgage loans, private banking, private equity, wealth
management[4]
Revenue ₹95,461 crore(US$13 billion) (2018)[5]
Operating ₹25,732 crore(US$3.6 billion) (2018)[5]

income
Net income ₹17,486 crore(US$2.4 billion) (2018)[5]
Total assets ₹1,018,170 crore(US$140 billion) (2018)[6]
Number of 94,907 (September 2018)[7]

employees
Website www.hdfcbank.com
SHARE HOLDING PATTERN OF HDFC BANK
No of Shares
9% 0%
11% 26%
11%
43%
Promoters FinancialInstitutions NBanksMutualFunds

GeneralPublic Others CentralGovt
PRODUCT AND SERVICES

HDFC Bank provides a number of products and services including wholesale banking, retail

banking, treasury, auto loans, two wheeler loans, personal loans, loans against property,
consumer durable loan, lifestyle loan and credit cards.Along with this various digital products
are Payzapp and Chillr.
ACQUISITIONS
HDFC Bank merged with Times Bank in February 2000. This was the first merger of two
private banks in the New Generation private sector banks category. In 2008, Centurion Bank
was acquired by HDFC Bank. HDFC Bank Board approved the acquisition of CBoP for 95.1
billion INR in one of the largest mergers in the financial sector in India.
AWARDS AND RECOGNITIONS
Best Banking Performer, India in 2016 by Global Brands Magazine Award.
Best Performing Branch in Microfinance among private Award for Best Performance in

sector banks by NABARD, 2016 Microfinance
Bank of the year & best digital

KPMG study of India's Best Banks
banking initiative award 2016
Business leader of the year- Aditya

AIMA Managing India Awards 2015
Puri
Most Valued brand in India for third

BrandZ Rankings
successive year
Best managed public company -

FinanceAsia poll on Asia's Best Companies 2015
India
Barron's World's 30 Best CEOs - Aditya Puri

Best in class straight through

J. P. Morgan Quality Recognition Award
processing rates
ICICI BANK
Type Private
Traded as BSE: 532174
NSE: ICICIBANK
NYSE: IBN
Industry Banking, Financial services
Founded 1994; 25 years ago
Headquarters Mumbai, Maharashtra, India
Key people Girish Chandra Chaturvedi

(Chairman)
Sandeep Bakhshi
(MD & CEO)
Products Retail banking, corporate banking, investment banking, mortgage
loans, private banking, wealth management, credit cards, finance and
insurance
Revenue ₹72,385 crore (US$10 billion) (2018)
Operating ₹7,434 crore (US$1.0 billion) (2018)

income

Net income ₹6,777 crore (US$940 million) (2018)

No of Shares
Total assets ₹851,995 crore (US$120 billion) (2018)
6% 3%0%
6%
Number of 81,548 (2018)

23%
employees 61%
Website www.icicibank.com
Promoters FinancialInstitutions GeneralPublic

NBanksMutualFunds Others CentralGovt
SHARE HOLDING PATTERN OF ICICI BANK
ACQUISITIONS
 1996: ICICI Ltd. A diversified financial institution with headquarters in Mumbai

 1997: ITC Classic Finance. incorporated in 1986, ITC Classic was a non-bank
financial firm that engaged in hire, purchase, and leasing operations. At the time of being
acquired, ITC Classic had eight offices, 26 outlets, and 700 brokers.
 1998: Anagram(ENAGRAM) Finance. Anagram had built up a network of some 50
branches in Gujarat, Rajasthan, and Maharashtra that were primarily engaged in retail
financing of cars and trucks. It also had some 250,000 depositors.
 2001: Bank of Madurai
 2002: The Darjeeling and Shimla branches of Grindlays Bank
 2005: Investitsionno-Kreditny Bank (IKB), a Russian bank
 2007: Sangli Bank. Sangli Bank was a private sector unlisted bank, founded in 1916,
and 30% owned by the Bahte family. Its headquarters were in Sangli in Maharashtra, and
it had 198 branches. It had 158 in Maharashtra and 31 in Karnataka, and others in

Gujarat, Andhra Pradesh, Tamil Nadu, Goa, and Delhi. Its branches were relatively
evenly split between metropolitan areas and rural or semi-urban areas.
 2010: The Bank of Rajasthan (BOR) was acquired by the ICICI Bank in 2010
for ₹ 30 billion. RBI was critical of BOR's promoters not reducing their holdings in the
company. BOR has since been merged with ICICI Bank.
AWARDS AND ACHIEVEMENTS
2003
 "The Asian Banker Excellence in Retail Financial Services Program" by The Asian
Banker.
2004
 Best Bank in India Award presented by Euromoney Magazine
2006
 Bank of the Year 2006 India by the Banker
2007
 ICICI Bank has been conferred the Euromoney Award 2007 for the Best Bank in the
Asia-Pacific Region
 ICICI Bank wins the Excellence in Remittance Business award by The Asian Banker
 ICICI Bank was got the awards for 'Best Transaction Bank' in India, 'Best Domestic
Bank' in India, 'Best follow-on offering'(US$4.94 billion), 'Best Investment Grade
Bond'(US$2 billion, three-tranche bonds), Best Syndicated Loan Managers by Asset.
2009
 ICICI Bank bags the "Best bank in SME financing (Private Sector)" at the Dun &
Bradstreet Banking awards
 ICICI Bank won the Best Banking Security Systems Project Award and Best E-
Banking Project Implementation Award by The Asian Banker.
2010

 ICICI Bank won the Best Banking Security System by The Asian Banker.
2011
 ICICI Bank is the only Indian brand to figure in the BrandZ Top 100 Most Valuable
Global Brands Report, second year in a row
 ICICI Bank won the 'Best CRM Project' and 'Best Banking Security Systems' by The
Asian Banker.
2012
 Airtel, ICICI among 'top 100 global brands'

 ICICI Bank received the Golden Peacock Innovative Product / Service Award.
 ICICI Bank received the Dataquest Technology Innovation Awards 2012 for Data
center migration by Dataquest.
 ICICI Bank was conferred the Best Performance Award for Self Help Group (SHG)
Bank Linkage Programme in NABARD's State Level Awards announced by their
Maharashtra Regional Office. The Bank received the first prize for the year 2010–11 in
the Private Sector Bank category and 2nd runner up for the year 2011–12 in the
Commercial Bank category.
2013
 ICICI Bank has been adjudged winner at the Express IT Innovation Award under the
Large Enterprise category
 ICICI Bank won the RMAI received the "Gram Samvad", Service for Low cost/Small
budget marketing initiative Award by Rural Marketing Association of India (RMAI).
 ICICI bank won the 'Next Generation Banking solution' award by Celent.
 ICICI bank won the Best Domestic Trade Finance Bank and Best Financial Supply
Chain Project Award in India by The Asian Banker
 ICICI Bank won the honours of the Medici Innovation Hall of Fame Award, instituted
by The Medici Institute in collaboration with the Medici Group, USA.
2014
 According to the Brand Trust Report 2014, ICICI Bank was ranked 28th among
India's most trusted brands, a research conducted by Trust Research Advisory.

 ICICI Bank was ranked second at the 'National Energy Conservation Award 2014'
under the office buildings (less than 10 lakh kWh/year consumption) category.
 ICICI Bank was fifth in the world and second in India on the 'Top Companies for
Leaders' in a study conducted by Aon Hewitt.
 ICICI bank won the Best Private Sector Bank - Global Business Development
by Polaris Financial Technology Banking Awards 2014.
 IDBRT awarded ICICI for 'Best Bank Award for Business Intelligence Initiatives
among Large Banks' and 'Best Bank Award for Social Media and Mobile Banking
Among Large Banks'. Companies in Corporate Governance in the 14th The Institute of
Company Secretaries of India National Awards for Corporate Governance. They were
honoured by Arun Jaitley.
 ICICI Bank has been honoured as The Best Service Provider - Risk Management,
India at The Asset Triple A Transaction Banking, Treasury, Trade and Risk Management
Awards 2014.
 ICICI Bank was awarded the 'Best Retail Bank in India', 'Best Microfinance Business'
and 'Best Retail Banking Branch Innovation' under the 'Excellence in Retail Financial
Services awards 2014' and Technology Implementation Award for Lending Platform
Implementation by The Asian Banker.
2015
 ICICI Bank won an award in the BFSI Leadership Summit & Awards in the 'Best
Phone Banking for End-users' category
 ICICI Bank won in six categories and was the first runner-up in one category among
Private Sector Banks at IBA Banking Technology Awards, 2015. The bank was declared
winner in the six categories of Best Technology Bank of the Year, Best use of Data, Best
Risk Management Initiatives, Best use of Technology in Training, Human Resources and
e-Learning initiatives, Best Financial Inclusion Initiative and Best use of Digital and
Channels Technology. ICICI Bank was the first runner-up in Best use of Technology to
Enhance Customer Experience[75]
 ICICI Bank has been declared as the first runner up at Outlook Money Awards 2015
in the category of ‘Best Bank’

 ICICI Bank has been adjudged the ‘Best Retail Bank in India’ by The Asian Banker.
It has also emerged winners in the categories of ‘Best Internet Banking Initiative’ and
‘Best Customer Risk Management Initiative’ awards given by The Asian Banker.[76]
 ‘Best Local Trade Finance Bank in India’ at Global Trade Review Asia Leaders in
Trade Awards 2015.
 ‘Best Foreign Exchange Bank’ in India, at Finance Asia’s 2015 Country Banking
Achievement Awards.
 ‘Best Private Sector Bank’ under ‘Global Business’ category at the Dun & Bradstreet
Banking Awards 2015.
 ‘Best Website Design’ in Asia-Pacific at Global Finance 2015 World’s Best Digital
Bank Awards.
 Winner at the National Energy Conservation Awards 2015 under the ‘Office
Buildings’ category (energy consumption of over 1 million units per annum).
 First among private sector banks in The Economic Times Brand Equity’s Most
Trusted Brands survey 2015.
 Runner up in the categories of ‘Immediate Payment Service’, ‘Cheque Truncation
System’ and ‘National Financial Switch’ at the National Payments Excellence Awards
2015 organised by the National Payments Corporation of India. The Bank was also
felicitated with a special award for issuing the largest number of RuPay Platinum cards.
2016
 ‘Best Retail Bank in India’ at the Asian Banker International Excellence in Retail
Financial Services Awards 2016. ICICI Bank has won this award three years in a row.
 Gold awards in the ‘Bank’ and ‘Credit card issuing Bank’ segments under Finance
category in the Reader’s Digest Trusted Brand 2016 Survey.
 First in The Brand Trust Report, India Study 2016 by Trust Research Advisory under
the ‘Banking Financial Services and Insurance’ category.
 Winner at the ‘Global Safety Awards 2016’ organised by the Energy and
Environment Foundation. This award is sponsored by Ministry of Petroleum & Natural
Gas and Ministry of Coal, Government of India.
ABOUT THE COMPANY

SATCO CAPITAL MARKET LTD –
SATCO CAPITAL MARKETS LTD is a SEBI Registered Capital & Commodity

Market Intermediary. It is a Member of the National Stock Exchange,
Bombay Stock Exchange, MCX Ltd. and NCDEX Ltd. We are also a
Depository Participant with CDSL and have a Portfolio Management
Service Registration.
Commencing Business in 1994, we established a strong presence

amongst the Retail Clientele, HNI &NRI community.
VISION
To be the most preferred service provider for investors in the capital market & financial
products space, driving wealth creation & growth along with personalized attention.
MISSION
Providing the best wealth creation opportunities for our clients. And To achieve good
investment returns for both their shareholders & clients and also to increase the productivity
by diversifying their investments.
SERVICES PROVIDED BY SETCO CAPITAL MARKET LTD
 Equity Trading
 Currency Trading
 Derivatives Trading
 Commodity Trading
 Portfolio Management
 Fixed Income Products (Bonds)

 Mutual Funds
 IPO
 Insurance
BRANCHES
There are many branches of SATCO CAPITAL MARKET LTD. across India. Some of them
are as follows.
1. VIJAYAWADA ,ANDHRA PRADESH-08666650103

2. MUMBAI,MAHARASTRA-02261706700
3. THIRUVANANTHAPURAM,KERLA-09946098889
4. AHEMDABAD,GUJRAT,ANAND NAGAR
5. BANGALORE,JAYNAGAR,KARNATAKA
BODs CHART OF SATCO CAPITAL MARKETS LTD
CHAIRMAN
MANAGING DIRECTOR
DIRECTOR
DIRECTOR

INDEPENDENT DIRECTOR
INDEPENDENT DIRECTOR
A BRIEF INTRODUCTION ABOUT BODs
1. MR.S.T.GERELA (Chairman)
Held Senior Positions at Bombay Stock Exchange, SEBI and RBI. He has experience
of over 5 decades in the areas of banking, finance, risk management and supervision
over the markets. Worked in several Committees set up by Government, SEBI, CDSL
and BSE in capital market related areas. He has authored a book on "Working of the
Stock Exchange, Mumbai“. Visiting faculty member to various management and
training institutes of repute and delivers lectures on capital market related subjects.
2. Mr. Rajendra Mahadev Babani (Managing Director)

Formerly Member of the Bombay Stock Exchange in Individual capacity. Experience
for over three decades. Joined SATCO as a Whole-time Director. He has rich
experience in handling various facets of Stock Broking including Private Equity
Placements & Portfolio Management Advisory services.
3. Mr. Naresh Tejwani(Director)

Experience of over three decades in areas of equity, derivatives, custodial functions
and financial planning. His key specialization areas include Portfolio and Risk
Management, Investment Advisory, Financial and Technical analysis. Former banker
specialized in Risk Asset Management. As entrepreneur, has shepherded a broking
and Data Processing venture. He is Past President of the Association of National
Exchanges Members of India (ANMI).
4. Mr. Meghraj S. Jain(Director)

His experience of over 2 decades, serves as the Chairperson and Managing Director of
Mangal Credit and Fincorp Limited. His motive, apart from delivering excellence, is

to diversify, rationalize and globalize in all possible fields. Invention and innovation
while get the best out of resources to fulfill all the services this world needs. As
Entrepreneur has wide experience in the field of bullion and finance.
5. Mr. Ashok Motwani(Independent Director)

Ex-CGM, IDBI Bank Ltd. Chairman and Managing Director of Beacon Trusteeship
Ltd . Mr. Motwani is a veteran finance professional having worked with leading
institutions such as IDBI Trustee, SHCIL, IDBI Bank, ARCIL and SIDBI. He has
over 35 years of experience in diverse areas such as investment and corporate
banking, project advisory, structured finance, debt syndication, trusteeship activities
& NPA resolution.
6. Mr. Mahesh Soneji(Independent Director)

“He had over 13 years+ association with Voltas Ltd. both at Ahmedabad and HO,
Mumbai. He also had a brief association with Gujarat Inject Ltd., Baroda (a joint
venture of Govt. of Gujarat through GIIC), as Company Secretary. Mr. Soneji was
Chief Operating Officer, BSE Ltd. from July 08 to Oct 09. He also carried out
responsibilities as Officiating MD & CEO from Aug 08 – May09 Mr. Mahesh was
Chief Operating Officer, BSE Ltd. from July 08 to Oct 09. He also carried out
responsibilities as Officiating MD & CEO from Aug 08 – May09. He contributed
significantly both at policy and implementation levels for over two decades being part
of various Committees appointed by MOF and SEBI viz. Uniform Rules & Bye-laws,
Delisting, Risk Management, Surveillance, Secondary Market, Primary Market
Advisory, Delisting, etc. Registrar at National Institute of Securities Markets
(established as Public Trust by SEBI), from Dec 09-July 12.

CHAPTER 4
DATA ANALYSIS AND INTERPRETATION
Analysis and interpretation is the process of identifying the strength and weakness of a firm
by properly established relationship between two items, it is useful for decision making. The
analysis and interpretation of data is the most skilled task in research process.
MEANING OF ANALYSIS

Analysis is the process of breaking a complex topic or substance into smaller parts in order to
gain a better understanding of it. The technique has been applied in the study of mathematics
and logic since before Aristotle (384-322 B.C.), though analysis as a formal concept is a
relatively recent development.
MEANING OF INTERPRETATION
Interpretation refers to the comparison of various components and definite conclusions may
be drawn about the earning capacity, efficiency, profitability, liquidity, solvency and trend
compulsion is very much essential for interpretation.
Statistical Tools to be used:
a) Simple Moving Average

b) Relative Strength Index
c) Rate of Change Indicator
Simple Moving Average
A simple moving average (SMA )is an arithmetic moving average calculated by adding

recent closing prices and then dividing that by the number of time periods in the calculation
average. A simple, or arithmetic, moving average that is calculated by adding the closing
price of the security for a number of time periods and then dividing this total by that same
number of periods. Short-term averages respond quickly to changes in the price of the
underlying, while long-term averages are slow to react.
The Formula For Simple Moving Average is –

Relative Strength Index
The relative strength index (RSI) is a momentum indicator that measures the magnitude of
recent price changes to evaluate overbought or oversold conditions in the price of a stock or
other asset. The RSI is displayed as an oscillator (a line graph that moves between two
extremes) and can have a reading from 0 to 100. The indicator was originally developed by J.
Welles Wilder and introduced in his seminal 1978 book, "New Concepts in Technical
Trading Systems."
Traditional interpretation and usage of the RSI is that values of 70 or above indicate that a
security is becoming overbought or overvalued and may be primed for a trend reversal or
corrective pullback in price. An RSI reading of 30 or below indicates an oversold
or undervalued condition.
The Formula For Relative Strength Index is –
Rate of Change Indicator
The rate of change - ROC - is the speed at which a variable changes over a specific period of
time. ROC is often used when speaking about momentum, and it can generally be expressed
as a ratio between a change in one variable relative to a corresponding change in another;
graphically, the rate of change is represented by the slope of a line. The ROC is often
illustrated by the Greek letter delta.

Rate of change is used to mathematically describe the percentage change in value over a
defined period of time, and it represents the momentum of a variable. The calculation for
ROC is simple in that it takes the current value of a stock or indexand divides it by the value
from an earlier period. Subtract one and multiply the resulting number by 100 to give it a
percentage representation.
GRAPH 4.1
Graph showing Simple Moving Average of Bank of Baroda

Simple Moving Average OF Bank of Badoda

1200
1000
800
600
400
200
0
4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4
Jan/1 Jan/1Feb/1Feb/1 ar/1 ar/1 pr/1 ay/1 ay/1 Jun/1 Jun/1/Jul/1 /Jul/1 ug/1Sep/1Sep/1 Oct/1 ov/1 ov/1Dec/1Dec/1
/ / M M A M M / / A / N N
01 17 04 / 20 / 11 / 27 / 16 / 07 / 23 / 10 26 14 31 19 / 05 / 23 / 14 03 / 21 / 09 / 26 /
Close Price SMA(30)
FIG 4.1
Interpretation -
The chart shows 30days moving average of Bank of Baroda Ltd. for a period of one year
from January 2018 till December 2018. The Chart shows that market is bullish trend and then
stabilizes only in the month of June. It is always good to sell when the SMA curve goes up
crossing the closing price and can buy when the closing price goes up crossing the SMA
curve. Sell at June and Buy at November.
GRAPH 4.2
Graph Showing Relative Strength Index of Bank of Baroda

Relative Strenght Index of Bank of Badoda

100
90
80
70
60
50
40
30
20
10
0
4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4
Jan/1 Jan/1 Feb/1 Feb/1 ar/1 ar/1 pr/1 ay/1 ay/1 Jun/1 Jun/1 /Jul/1 /Jul/1 ug/1 Sep/1 Sep/1 Oct/1 ov/1 ov/1 Dec/1 Dec/1
/ / M M A M M / / A / N N
01 17 04 / 20 / 11 / 27 / 16 / 07 / 23 / 10 26 14 31 19 / 05 / 23 / 14 03 / 21 / 09 / 26 /
FIG 4.2
Interpretation -
The chart shows the Relative Strength Index of Bank of Baroda Ltd. for a period of one year
from January 2018 till December 2018.The RSI indicates the buy and sell signal for the best
profitable investment and to minimize the loss. The buy signal is in the month of February
and October. The sell signal is in the month of March, May and November.
GRAPH 4.3
Graph Showing Rate of Change of Bank of Baroda

Rate Of Change 14Days of Bank of Badoda

30
25
20
15
10
-5
-10
-15
-20
4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4
Jan/1 Jan/1Feb/1Feb/1 ar/1 ar/1 pr/1 ay/1 ay/1 Jun/1 Jun/1/Jul/1 ug/1 ug/1Sep/1Sep/1 Oct/1 ov/1 ov/1Dec/1Dec/1
/ / M M A M M / / A A / N N
02 20 05 / 21 / 12 / 28 / 17 / 08 / 26 / 11 27 15 01 / 20 / 08 / 24 / 16 05 / 24 / 10 / 29 /
FIG 4.3
Interpretation
The chart shows 14 day Rate of Change in price of Bank of Baroda Ltd. during one year
period from January 2018 till December 2018. The Rate of Change helps in identifying the
overbought and over sold conditions during the period. The stock has reached overbought
condition during March and this has made the price to fall. The oversold condition was
realized during the month of February and this has made the price to rise.
GRAPH 4.4
Graph Showing Simple Moving Average of State Bank of India

Simple Moving Average of State Bank of India

3500
3000
2500
2000
1500
1000
500
0
4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4
Jan/1 Jan/1Feb/1Feb/1 ar/1 ar /1 pr/1 ay/1 ay/1 Jun/1 Jun/1/Jul/1/Jul/1 ug/1Sep/1Sep/1 Oct/1 ov/1 ov/1Dec/1Dec/1
/ / M M A M M / / A / N N
01 17 04 / 20 / 11 / 27 / 16 / 07 / 23 / 10 26 14 31 19 / 05 / 23 / 14 03 / 21 / 09 / 26 /
Close Price SMA(30)
FIG 4.4
Interpretation
The chart shows 30 day moving average of SBI limited for a period of one year from January
2018 to December 2018.The chart shows that the market are in increasing trend at the
beginning but from June the trend is flat and finally there is a sudden decline at the end of
November . It is always good to sell when the SMA curve goes up crossing the closing price
and can buy when the closing price goes up crossing the SMA curve. So it is good to buy in
the month of March.
GRAPH 4.5
Graph Showing Relative Strength Index of State Bank of India

Relative Strenghth Index of State Bank of India

100
90
80
70
60
50
40
30
20
10
0
/14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14
/Jan /Jan /Feb /Feb Mar Mar /Apr May May /Jun /Jun /Jul /Jul Aug /Sep /Sep /Oct Nov Nov /Dec /Dec
01 17 04 20 11 / 27 / 16 07 / 23 / 10 26 14 31 19 / 05 23 14 03 / 21 / 09 26
FIG 4.5
Interpretation
The chart shows the Relative Strength Index of State Bank of India for a period of
one year from January 2018 till December 2018.The RSI indicates the buy and sell
signal for the best profitable investment and to minimize the loss. The buy signal is
in the month of July and August. The sell signal is in the month of March, May and
November.
GRAPH 4.6

Graph Showing Rate of Change of State Bank of India
Rate of Change 14 Days of State Bank of India

60
40
20
-20
-40
-60
-80
-100
4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4
/ / M M A M M / / A A / N N
02 20 05 / 21 / 12 / 28 / 17 / 08 / 26 / 11 27 15 01 / 20 / 08 / 24 / 16 05 / 24 / 10 / 29 /
FIG 4.6
Interpretation
The chart shows 14 day Rate of Change in price of State Bank of India during one year
period from January 2018 till December 2018.The Rate of Change helps in identifying the
condition during May and this has made the price to fall. The oversold condition was realized
during December and this has made the price to raise.
GRAPH 4.7
Graph Showing Simple Moving Average of HDFC Bank

Simple Moving Average of HDFC

1200
1000
800
600
400
200
0
/14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14
/Jan /Jan /Feb /Feb Mar Mar /Apr May May /Jun /Jun /Jul /Jul Aug /Sep /Sep /Oct Nov Nov /Dec /Dec
01 17 04 20 11 / 27 / 16 07 / 23 / 10 26 14 31 19 / 05 23 14 03 / 21 / 09 26
Close Price SMA(30)
FIG 4.7
Interpretation
The chart shows 30days moving average of HDFC Ltd. for a period of one year from January
2018 till December 2018. The chart shows that market is bullish for the entire year. It is
always good to sell when the SMA curve goes up crossing the closing price and can buy
when the closing price goes up crossing the SMA curve.
GRAPH 4.8
Graph Showing .Relative Strength Index of HDFC Bank

Relative Strenght Index of HDFC

90
80
70
60
50
40
30
20
10
FIG 4.8
Interpretation
The chart shows the Relative Strength Index of HDFC Ltd. for a period of one year from
January 2018 till December 2018.The RSI indicates the buy and sell signal for the best
profitable investment and to minimize the loss. The buy signal is in the month of February
and April. The sell signal is in the month of March and May.
GRAPH 4.9
Graph Showing Rate of Change of HDFC Bank

Rate of Change 14Days of HDFC

15
10
-5
-10
4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4
/ / M M A M M / / A A / N N
02 20 05 / 21 / 12 / 28 / 17 / 08 / 26 / 11 27 15 01 / 20 / 08 / 24 / 16 05 / 24 / 10 / 29 /
FIG 4.9
Interpretation
The chart shows 14 day Rate of Change in price of HDFC Bank Ltd. during one year period
from January 2018 till December 2018. The Rate of Change helps in identifying the
condition during March and May and this has made the price to fall. The oversold condition
was realized during February, August and December and this has made the price to rise.
GRAPH 4.9
Graph Showing Simple Moving Average of ICICI Bank

Simple Moving Average of ICICI

2000
1800
1600
1400
1200
1000
800
600
400
200
0
4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4
/ / M M A M M / / A / N N
01 17 04 / 20 / 11 / 27 / 16 / 07 / 23 / 10 26 14 31 19 / 05 / 23 / 14 03 / 21 / 09 / 26 /
Close Price SMA(30)
FIG 4.9
Interpretation
The chart shows 30days moving average of ICICI Bank Ltd. for a period of one year from
January 2018 till December 2018. The chart shows that market is good since beginning and a
major decline is in the month of December. It is always good to sell when the SMA curve
goes up crossing the closing price.
GRAPH 4.10
Graph Showing Relative Strength Index of ICICI Bank

Relative Strenght Index of ICICI

100
90
80
70
60
50
40
30
20
10
0
4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4
/ / M M A M M / / A / N N
01 17 04 / 20 / 11 / 27 / 16 / 07 / 23 / 10 26 14 31 19 / 05 / 23 / 14 03 / 21 / 09 / 26 /
FIG 4.10
Interpretation
The chart shows the Relative Strength Index of ICICI Bank Ltd. for a period of one year from
January 2018 till December 2018. The RSI indicates the buy and sell signal for the best
profitable investment and to minimize the loss. When the value is near 30 we can buy and
when the value is near 70 we can sell. The buy signal is in February and December. The sell
signal is in March, May and November.
GRAPH 4.11
Graph Showing Rate of Change of ICICI Bank

Rate of Change 14Days of ICICI

40
20
-20
-40
-60
-80
-100
/14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14 /14
/Jan /Jan /Feb /Feb Mar Mar /Apr May May /Jun /Jun /Jul Aug Aug /Sep /Sep /Oct Nov Nov /Dec /Dec
02 20 05 21 12 / 28 / 17 08 / 26 / 11 27 15 01 / 20 / 08 24 16 05 / 24 / 10 29
FIG 4.11
Interpretation
The chart shows 14 day Rate of Change in price of ICICI Bank Ltd. during one year period
from January 2018 till December 2018. The Rate of Change helps in identifying the
condition during March and this has made the price to fall. The oversold condition was
realized during December and this has made the price to rise.

CHAPTER 5
SUMMARY OF FINDINGS, SUGESSTIONS AND

CONCLUSION
5.1 FINDINGS
5.1.1 Bank of Baroda:
INDICATOR BUY SELL
SMA March and November June
RSI February and October May and November
ROC February March
TABLE 5.1.1
5.1.2 State Bank of India
INDICATOR BUY SELL
SMA March November
RSI July and August May and November
ROC December May
TABLE 5.1.2
5.1.3 HDFC BANK:

INDICATOR BUY SELL
SMA March and May August
RSI February and April March and May
ROC February, August and March and May

December
TABLE 5.1.3
5.1.4 ICICI BANK:
INDICATOR BUY SELL
SMA March and October December
RSI February and December March, May and November
ROC December March
TABLE 5.1.4
SUGGESTIONS
Technical analysis will improve the investment decision. Technical analysis is simple and
more reliable .The investor should have the knowledge regarding the market terms. So that
they can take maximum return from maximum investment. In case a trader entering into the

new industry first he has to select stocks to buy in new industry after making careful study
prospects and charts of the stock.
After analyzing the past performance of selected stocks, it is found that the performance of
the stocks of Bank of Baroda can be bought because their market is in bullish trend and the
stocks of HDFC are in neutral condition and it is good to wait for the perfect market. The
stocks of SBI and ICICI are in increasing trend since beginning and there is a sudden down
trend at the end and it can be bought in the buy signal using the technical indicators.
The investors can take their investment decisions by considering the simple indicators. In
SMA, the investor can buy the stock when the closing price goes up crossing the SMA curve
and should sell when the SMA curve goes above the closing price. In RSI, the investor can
buy at the level of 30 and sell at the level of 70. These indicator can be followed for making a
profitable trade.
Investment Rules
 Invest for long term in equity markets.

 Align your thought process with the business cycle of the company.
 Set the purpose for investment.
 Disciplined investment during market volatility helps attains profits.
 Planning, Knowledge and discipline are very crucial for investment.
5.2 CONCLUSION
Technical analysis is a technique which gives an idea about future share prices of selected
companies in which we invest. On the basis of the knowledge of technical analysis one can
make the perfect investment decision of the stock market. By using the technical indicators
the future market of securities would be known in which to invest. The more accurate
prediction of stock prices of selected companies the investor to carry out fundamental
analysis of stock prices, they can predict of future trend of stock prices.
On the basis of prediction of four companies different pattern of stock prices of these
companies give an idea of future trend of these companies could be analyzed with the right
technical analysis tools, technical analysis of utmost importance to predict trend of short and
medium term price movement and help the investors to select the right plan and decisions to
invest in the remunerative stocks.
BIBLIOGRAPHY

Books
 Prasanna Chandra-Investment analysis and Portfolio Management-McGraw Hill.
 Punithavathy Pandian-Security Analysis and Portfolio Management-Vikas Publishing
House.
 V.A. Avadhani-Security Analysis and Portfolio Management-Himalaya Publishing
House.
 Sudhindra Bhat-Security Analysis and Portfolio Management-Excel Books.
 I M Pandey-Financial Management-Vikas Publishing House.
Websites
 www.in.yahoo.finance.com.
 www.indianstockcharts.com.
 www.moneycontrol.com.
 www.investopedia.com.
 www.nseindia.com.
 www.bseindia.com.
ANNEXURES
The calculation of simple moving average, Relative strength index and Rate of change is
done for two years it is shown here
CALULATION OF SIMPLE MOVING AVERAGE

ICICI SBI HDFC BOB

Close SMA(30) Close SMA(30) Close SMA(30) Close SMA(30)
Date Price Price Price Price
1-Jan-18 1097.4 1765.3 665.05 657.7
2-Jan-18 1075.1 1742.5 656.85 650.2
3-Jan-18 1067 1716.1 663.35 649.95
6-Jan-18 1040.7 1687.65 662 637.9
7-Jan-18 1049.95 1659.75 664.75 616.75
8-Jan-18 1054.05 1655.4 664.65 629.85
9-Jan-18 1051.5 1639.1 663.05 620.15
10-Jan-18 1024.55 1608.85 662.15 612.45
13-Jan-18 1056.2 1641.95 672.75 617.8
14-Jan-18 1037.55 1626.9 672.15 620.7
15-Jan-18 1058.35 1643.55 680.35 643
16-Jan-18 1060.85 1637 673.95 639.85
17-Jan-18 1035 1622.05 668.3 628.9
20-Jan-18 1044.1 1641 669.85 622.35
21-Jan-18 1078.8 1658.6 676.75 632.25
22-Jan-18 1087.05 1645.75 677.7 631.65
23-Jan-18 1079.1 1657.05 679.4 627.4
24-Jan-18 1057.95 1621.95 673.95 602.55
27-Jan-18 1010.05 1594.55 649.7 569.95
28-Jan-18 1019.15 1595.95 645.25 567.6
29-Jan-18 1001.95 1573.65 645.6 556.05
30-Jan-18 974.75 1517.55 632.4 533.35
31-Jan-18 988.5 1525.6 628.9 548.95
3-Feb-18 963.7 1489.85 626.35 531.45
4-Feb-18 970.1 1516 630.55 542.35
5-Feb-18 966.15 1521.1 637.2 542.45
6-Feb-18 957.6 1504.25 647.35 537.75
7-Feb-18 961.75 1526.75 647.9 557.5
10-Feb-18 959.55 1514.3 643.75 562.3
11-Feb-18 969.1 1026.585 1518.5 1608.95 645.1 657.5683 560.1 598.3733
12-Feb-18 999.25 1023.313 1532.7 1601.197 645.65 656.9217 561.7 595.1733
13-Feb-18 981.2 1020.183 1499.65 1593.102 633.25 656.135 531.6 591.22
14-Feb-18 988.4 1017.563 1475.1 1585.068 641.75 655.415 536.15 587.4267
17-Feb-18 1009.45 1016.522 1473.4 1577.927 650.55 655.0333 533.75 583.955
18-Feb-18 1037.75 1016.115 1499.05 1572.57 660.55 654.8933 537.7 581.32
19-Feb-18 1030.65 1015.335 1508.65 1567.678 669.35 655.05 531.45 578.04
20-Feb-18 1008.45 1013.9 1481.5 1562.425 662.75 655.04 513.4 574.4817
21-Feb-18 1024.75 1013.907 1503.1 1558.9 664.8 655.1283 518.3 571.3433
24-Feb-18 1036.2 1013.24 1510.75 1554.527 670.2 655.0433 527 568.3167
25-Feb-18 1030.7 1013.012 1506.75 1550.522 670.8 654.9983 537.35 565.5383
26-Feb-18 1036.4 1012.28 1521.65 1546.458 676.4 654.8667 537.8 562.0317
28-Feb-18 1043.7 1011.708 1531.7 1542.948 667.5 654.6517 550.65 559.0583
3-Mar-18 1029.65 1011.53 1518.5 1539.497 666.15 654.58 545.6 556.2817

4-Mar-18 1068.3 1012.337 1549.7 1536.453 670.45 654.6 576.55 554.755

5-Mar-18 1097.15 1012.948 1573.5 1533.617 669.1 654.345 612.2 554.0867
6-Mar-18 1133.65 1014.502 1576.2 1531.298 675.5 654.2717 615.15 553.5367
7-Mar-18 1201.3 1018.575 1648.75 1531.022 711.35 655.3367 649.5 554.2733
10-Mar-18 1193.8 1023.103 1691.35 1533.335 734.35 657.35 652.8 555.9483
11-Mar-18 1198.45 1029.383 1675.15 1536.022 725.35 659.8717 647.25 558.525
12-Mar-18 1210.75 1035.77 1644.75 1537.648 725.55 662.5483 642.15 561.01
13-Mar-18 1218.25 1042.98 1651.8 1540.253 742.25 665.77 643.35 563.92
14-Mar-18 1213.75 1050.947 1653.5 1544.785 731.7 669.08 656.75 568.0333
18-Mar-18 1204.8 1058.157 1698.4 1550.545 733.75 672.575 660.3 571.745
19-Mar-18 1210.25 1066.375 1707.35 1557.795 737.8 676.29 660.25 576.0383
20-Mar-18 1200.9 1074.068 1677.95 1563.193 730.8 679.6317 641.4 579.34
21-Mar-18 1199 1081.83 1702.6 1569.243 733.85 682.8533 655.9 583.1217
22-Mar-18 1197.95 1089.842 1702.4 1575.848 731.95 685.6733 655.85 587.0583
24-Mar-18 1242.4 1099.197 1725.45 1582.472 750.45 689.0917 665 590.6417
25-Mar-18 1252.55 1108.963 1741.05 1590.03 749.6 692.62 664.3 594.0417
26-Mar-18 1256.9 1118.557 1768.2 1598.353 746 695.9833 679 598.005
27-Mar-18 1259.5 1127.232 1839.55 1608.582 746.95 699.36 694.5 602.4317
28-Mar-18 1258.75 1136.483 1902.25 1622.002 744.95 703.0833 730.4 609.0583
31-Mar-18 1245.45 1145.052 1918.3 1636.775 748.85 706.6533 721.35 615.2317
1-Apr-18 1223.8 1152.197 1894.55 1650.813 738.1 709.5717 734.35 621.9183
2-Apr-18 1242.55 1159.023 1933.5 1665.295 730.55 711.905 775.95 629.86
3-Apr-18 1235.2 1165.842 1895.35 1678.185 728.4 713.8733 755.95 637.3433
4-Apr-18 1230.35 1173.238 1904.25 1692.277 725.8 715.975 756.4 645.4433
7-Apr-18 1209.05 1179.382 1922.25 1706.248 725.35 717.9933 751.1 653.2033
9-Apr-18 1259.55 1186.827 1984.25 1722.032 742.1 720.39 791.7 662.0267
10-Apr-18 1246.15 1194.008 2026.85 1739.368 738.85 722.6583 786.65 670.3367
11-Apr-18 1235.5 1200.645 1994.3 1755.123 737.85 724.7067 780.8 678.4367
15-Apr-18 1218.05 1206.457 1963.5 1769.517 723.4 726.57 752.6 685.1683
16-Apr-18 1222.3 1212.878 1959.75 1784.225 725.25 728.54 757.45 692.23
17-Apr-18 1262 1219.335 2017.8 1799.828 718.55 730.1433 771.15 698.7167
21-Apr-18 1281.55 1225.482 2070.7 1816.402 716.6 731.7267 785.2 704.4833
22-Apr-18 1287.9 1230.623 2049.35 1832.173 726.35 733.4217 780.6 709.9983
23-Apr-18 1299.05 1233.882 2064.55 1846.033 734.25 734.185 805.65 715.2033
25-Apr-18 1269.3 1236.398 2083.15 1859.093 726.25 733.915 810.2 720.45
28-Apr-18 1273.85 1238.912 2105.3 1873.432 725.3 733.9133 821.55 726.26
29-Apr-18 1262.05 1240.622 2065.3 1887.45 715.9 733.5917 817.2 732.095
30-Apr-18 1244.8 1241.507 2078.95 1901.688 718.25 732.7917 819.5 737.9667
2-May-18 1251.8 1242.775 2045.8 1914.765 716.85 732.2967 800.8 742.7683
5-May-18 1254.15 1244.42 2044.85 1926.313 716.9 731.735 809.5 747.7417
6-May-18 1274.55 1246.563 2051.75 1937.793 719.7 731.1317 806.2 752.6067
7-May-18 1272.5 1248.95 2073.4 1950.975 716.05 730.64 804 758.0267
8-May-18 1289.4 1251.963 2091.5 1963.938 719.05 730.1467 808.7 763.12
9-May-18 1374.85 1257.86 2172.7 1979.615 757.2 730.9883 829.9 768.9217
12-May-18 1399.25 1263.088 2243.75 1996.892 791.95 732.3717 839.35 774.7333
13-May-18 1402.65 1268.092 2276.25 2014.732 787.2 733.625 877.9 781.8533

14-May-18 1409.65 1273.183 2282.75 2031.883 775.25 734.6 958.85 791.1817

15-May-18 1393.1 1277.637 2279.1 2046.535 788.1 735.9717 921.35 798.7433
16-May-18 1464.8 1284.505 2414.3 2063.603 804.7 737.9633 934.55 805.5483
19-May-18 1471.1 1292.027 2570 2085.327 811.8 740.0617 969.15 813.8083
20-May-18 1449.4 1299.547 2526.05 2106.377 815.65 742.6467 938.45 820.6117
21-May-18 1439.35 1306.107 2460.1 2123.93 809.85 745.29 934.85 825.9083
22-May-18 1451.35 1313.312 2511.8 2144.478 802.6 747.7633 925.45 831.5583
23-May-18 1460.75 1320.992 2755.25 2172.845 789.5 749.8867 954.6 838.165
26-May-18 1452.55 1329.108 2699.8 2198.763 798.3 752.3183 910.8 843.4883
27-May-18 1447.5 1335.373 2632.2 2220.362 804.85 754.41 888.5 846.715
28-May-18 1456.15 1342.373 2610.1 2239.803 823.4 757.2283 874.55 849.645
29-May-18 1437.85 1349.118 2600.05 2259.995 810.55 759.6517 877.2 852.8583
30-May-18 1418.4 1355.797 2541.9 2279.275 794.1 762.0083 843.4 855.885
2-Jun-18 1462.4 1363.8 2644.2 2302.09 819.95 765.165 875.05 859.805
3-Jun-18 1458.25 1370.342 2643.3 2322.94 824.55 768.6983 869.8 863.0933
4-Jun-18 1469.2 1376.597 2682.3 2343.327 816.55 772.03 891.15 866.625
5-Jun-18 1460.95 1382.365 2696.75 2364.907 804.9 774.6483 885.2 870.1117
6-Jun-18 1481.75 1388.455 2732.15 2387.16 814.95 777.3383 904.3 873.4
9-Jun-18 1486.6 1395.698 2703.35 2407.833 820.05 780.465 904.9 876.5567
10-Jun-18 1481.25 1402.612 2664.75 2426.482 817.45 783.5367 888.95 878.8033
11-Jun-18 1468.2 1409.483 2690.65 2447.327 820.45 787.0217 891.9 881.2933
12-Jun-18 1459.9 1416.653 2693.8 2467.822 839.9 791.0767 875.5 883.16
13-Jun-18 1429.55 1422.578 2606.35 2486.507 835.55 795.0333 840.45 884.4817
16-Jun-18 1415.65 1427.962 2579.25 2504.32 839.1 799.1067 850.35 885.8433
17-Jun-18 1449.1 1433.78 2654.4 2524.408 846.45 803.3317 876.05 888.1717
18-Jun-18 1420.4 1438.71 2638.15 2543.233 834 807.2633 858.05 889.9733
19-Jun-18 1411.5 1442.78 2606.1 2560.387 825.65 810.8167 843.05 891.1183
20-Jun-18 1398.8 1443.578 2580.6 2573.983 823.5 813.0267 831.8 891.1817
23-Jun-18 1413.25 1444.045 2601.35 2585.903 821.4 814.0083 835 891.0367
24-Jun-18 1438.6 1445.243 2659.5 2598.678 828.8 815.395 863.85 890.5683
25-Jun-18 1419.85 1445.583 2691.75 2612.312 824.05 817.0217 867.75 887.5317
26-Jun-18 1403.3 1445.923 2655.5 2624.858 812.65 817.84 849.35 885.1317
27-Jun-18 1384.8 1443.257 2636.75 2632.273 815.4 818.1967 846.25 882.1883
30-Jun-18 1418.45 1441.502 2685.9 2636.137 821.35 818.515 877.15 879.1217
1-Jul-18 1437.7 1441.112 2680.8 2641.295 823.1 818.7633 878.3 877.1167
2-Jul-18 1452.25 1441.542 2701.1 2649.328 839.3 819.745 880.35 875.3
3-Jul-18 1451.7 1441.553 2691.95 2655.333 837.2 820.8983 876.05 873.6533
4-Jul-18 1462.45 1441.61 2699.05 2653.46 856.35 823.1267 875.2 871.0067
7-Jul-18 1450.95 1441.557 2682.45 2652.882 840.05 824.5183 865.75 869.505
8-Jul-18 1412.5 1440.39 2576.75 2651.033 830.15 825.3617 831.35 867.6
9-Jul-18 1403.2 1438.625 2581.55 2650.082 830.35 825.5933 834.4 866.2617
10-Jul-18 1390.85 1437.058 2547.85 2648.342 824.95 826.0733 826.45 864.57
11-Jul-18 1355.6 1434.965 2421.55 2644.33 812.15 826.675 783.7 862.58
14-Jul-18 1344.3 1431.028 2412.1 2636.593 816.45 826.5583 796.35 859.9567
15-Jul-18 1393.55 1428.872 2516.2 2632.357 826.75 826.6317 830 858.63
16-Jul-18 1459.05 1428.533 2573.15 2628.718 835.6 827.2667 837.8 856.8517

17-Jul-18 1448.7 1428.125 2597.65 2625.415 831.35 828.1483 845.05 855.5133

18-Jul-18 1477.2 1427.973 2561.45 2619.725 832.45 828.7317 836.55 853.255
21-Jul-18 1482.6 1427.84 2523.15 2613.718 828.05 828.9983 836.3 850.9683
22-Jul-18 1483.2 1427.905 2524 2609.027 839.9 829.7467 831.85 849.065
23-Jul-18 1505.8 1429.158 2540.3 2604.015 835.9 830.2617 853.95 847.8
24-Jul-18 1505.25 1430.67 2555.75 2599.413 842.2 830.3383 882.5 848.0333
25-Jul-18 1475.9 1432.215 2501.2 2595.908 835.5 830.3367 861.55 848.7367
28-Jul-18 1451.5 1433.41 2490.25 2592.942 829.75 830.025 866.1 849.2617
30-Jul-18 1489.55 1434.758 2470.95 2586.827 838.75 829.7683 886.2 849.6
31-Jul-18 1473 1436.512 2439.75 2580.213 833.65 829.7567 870.65 850.02
1-Aug-18 1476.4 1438.675 2439.4 2574.657 815.25 829.41 894.35 851.73
4-Aug-18 1491.35 1441.76 2460.85 2570.665 813.15 829.065 898.65 853.9583
5-Aug-18 1485.5 1444.168 2469.75 2566.278 819.95 829.0167 909.8 856.4517
6-Aug-18 1446.85 1444.443 2426.65 2558.517 809.55 828.375 892.4 857.4033
7-Aug-18 1445.2 1445.288 2437.15 2550.03 811.8 827.9667 878.3 857.755
8-Aug-18 1437.35 1446.423 2415.25 2542.022 796.3 827.4217 858.25 858.0517
11-Aug-18 1440 1448.263 2412.7 2534.553 793.6 826.695 890.35 859.5217
12-Aug-18 1463.8 1449.775 2429.35 2526.002 807.15 826.2217 913.25 860.725
13-Aug-18 1452 1450.252 2368.65 2515.597 812.35 825.8633 879.15 860.7533
14-Aug-18 1477.6 1451.097 2361.8 2504.287 825.75 825.4117 878.95 860.7067
18-Aug-18 1529.85 1453.702 2420.3 2495.232 832.25 825.2467 885.8 861.0317
19-Aug-18 1543.05 1456.388 2439.8 2486.59 824.1 824.1717 887.5 861.4417
20-Aug-18 1542.5 1459.44 2413.05 2477.61 820.55 823.5217 880.2 861.9233
21-Aug-18 1544.3 1463.833 2467.8 2473.978 831.65 823.5717 901.15 864.25
22-Aug-18 1537.7 1468.317 2523.6 2472.047 846.6 824.1133 919.85 867.0983
25-Aug-18 1514.35 1472.433 2509.1 2470.755 843.4 824.7283 895.7 869.4067
26-Aug-18 1510.05 1477.582 2493.15 2473.142 842.5 825.74 890.9 872.98
27-Aug-18 1540.95 1484.137 2503 2476.172 836.6 826.4117 887.75 876.0267
28-Aug-18 1556.55 1489.57 2460.45 2474.313 842.95 826.9517 870.85 877.3883
1-Sep-18 1598.85 1494.23 2503.4 2471.988 841.55 827.15 889.3 879.105
2-Sep-18 1590.9 1498.97 2522.05 2469.468 858.5 828.055 888.8 880.5633
3-Sep-18 1579.25 1502.372 2501.5 2467.47 856.65 828.8617 886.55 882.23
4-Sep-18 1571.25 1505.327 2488 2466.298 851.9 829.6567 876.8 883.58
5-Sep-18 1548.35 1507.498 2515.4 2466.012 848.75 829.9517 885.1 885.355
8-Sep-18 1568.2 1509.578 2564.2 2466.808 864 830.8883 890.2 886.5633
9-Sep-18 1547.7 1510.993 2567.4 2467.197 865.4 831.6617 903.3 887.2567
10-Sep-18 1571.4 1514.177 2553 2468.923 857.05 832.38 906.7 888.7617
11-Sep-18 1565.9 1517.99 2601.4 2472.628 854.9 833.2183 923.7 890.6817
12-Sep-18 1564.95 1520.503 2625.6 2477.783 855.35 833.7717 944.15 892.6133
15-Sep-18 1551.9 1523.133 2624.3 2483.935 859.75 834.6417 950.3 895.2683
16-Sep-18 1526.3 1524.797 2563.7 2488.078 850.15 835.805 923.45 896.2383
17-Sep-18 1529.1 1526.055 2562.05 2491.452 846.4 836.9133 928.75 897.2417
18-Sep-18 1565.35 1528.717 2618.75 2496.418 856.85 838.1433 956.9 898.8117
19-Sep-18 1570.45 1532.837 2568.5 2501.147 859.95 839.8233 949.1 900.7017
22-Sep-18 1577.3 1537.24 2601.95 2506.64 856.75 841.3217 953.95 903.2233
23-Sep-18 1538.45 1540.61 2555.95 2511.33 848.65 843.0667 928.6 905.5683

24-Sep-18 1516.6 1543.163 2487.4 2513.82 853.9 845.0767 905.4 906.07

25-Sep-18 1466.85 1543.265 2378.35 2512.12 851.25 846.5467 887.8 905.2217
26-Sep-18 1478.05 1544.133 2442.9 2514.595 871.25 848.51 897.8 905.8433
29-Sep-18 1457.45 1543.462 2447.5 2517.452 864.2 849.7917 898.75 906.5033
30-Sep-18 1435.25 1540.308 2442.35 2518.187 871.5 851.1 902.5 907.06
1-Oct-18 1428.45 1536.488 2423 2517.627 868.15 852.5683 898.4 907.4233
7-Oct-18 1430.1 1532.742 2369.8 2516.185 862.35 853.9617 866.25 906.9583
8-Oct-18 1449.65 1529.587 2411.8 2514.318 868.6 855.1933 858.1 905.5233
9-Oct-18 1487.9 1527.927 2480.25 2512.873 888.15 856.5783 872.35 903.94
10-Oct-18 1460 1526.115 2451.3 2510.947 866.95 857.3633 858.75 902.7083
13-Oct-18 1476.55 1524.998 2481.3 2510.552 876.3 858.49 865.3 901.855
14-Oct-18 1476.7 1522.857 2521.65 2511.173 868.75 859.5617 872.3 901.34
16-Oct-18 1463.7 1519.762 2465.65 2511.347 859.15 860.1017 867.3 901.2217
17-Oct-18 1505.6 1516.653 2522.3 2511.977 885.3 861.56 872.15 900.65
20-Oct-18 1537 1514.857 2567.9 2513.505 894.8 862.77 873.35 900.135
21-Oct-18 1577.6 1514.802 2584.55 2516.273 895.9 864.0783 883.9 900.0467
22-Oct-18 1570.85 1514.788 2575.55 2519.192 893.75 865.4733 887.85 900.415
23-Oct-18 1576.25 1515.718 2582.35 2521.423 896.5 867.065 889.6 900.565
27-Oct-18 1572.4 1515.858 2594.6 2522.437 897.15 868.17 904 901.025
28-Oct-18 1601.2 1517.642 2656.4 2525.403 895.2 869.1633 920.55 901.6
29-Oct-18 1603.9 1518.725 2642.7 2528.393 891.45 870.31 905.5 901.56
30-Oct-18 1611.5 1520.245 2638.15 2529.618 895.4 871.66 912.35 901.1817
31-Oct-18 1625.45 1522.262 2701.65 2532.153 912.2 873.555 930.5 900.7267
3-Nov-18 1642.05 1525.267 2721.25 2535.385 910.45 875.245 949.35 900.695
5-Nov-18 1672.3 1530.133 2782.25 2542.67 912.75 877.3317 952.7 901.67
7-Nov-18 1685.6 1535.35 2742.35 2548.68 899 879.085 960.6 902.7317
10-Nov-18 1667 1538.738 2735.2 2552.562 904.2 880.6633 982.85 903.5967
11-Nov-18 1684.05 1542.525 2737.55 2558.197 907.45 882.2467 1010.75 905.6517
12-Nov-18 1706.4 1546.828 2742.1 2562.868 911.7 884.0783 1018.6 907.8067
13-Nov-18 1692.3 1551.957 2719.15 2568.308 916.2 886.33 998.6 910.14
14-Nov-18 1695.2 1557.91 2788.45 2578.343 929.3 888.8433 1015.05 913.795
17-Nov-18 1673.65 1564.803 2940.15 2597.07 919.55 891.12 1055.85 919.3967
18-Nov-18 1681 1571.568 2939.55 2613.625 932.4 893.1583 1052.55 924.555
19-Nov-18 1682.15 1579.058 2911.4 2629.088 926.8 895.245 1037.25 929.1717
20-Nov-18 1689.1 1587.52 297.1 2557.58 917.6 896.7817 1025.55 933.2733
21-Nov-18 1734 1597.705 305.05 2486.982 932.5 898.9267 1038.85 937.955
24-Nov-18 1772.95 1609.133 308.5 2418.272 944.9 901.6783 1041.4 943.7933
25-Nov-18 1737.1 1618.715 304.95 2348.043 952.85 904.4867 1013.1 948.96
26-Nov-18 1711.95 1626.183 306.2 2275.575 950.95 906.58 1011.85 953.61
27-Nov-18 1722.3 1634.927 305.85 2204.06 947.65 909.27 1014.8 958.8117
28-Nov-18 1754.6 1644.195 321.45 2132.065 957.4 911.9733 1088.2 966.2417
1-Dec-18 1757.55 1653.557 319.45 2058.658 950.4 914.695 1083.75 973.29
2-Dec-18 1770.55 1663.785 318.75 1987.095 942.75 917.4817 1084.25 980.5217
3-Dec-18 1793.1 1673.368 317.55 1913.603 932.45 919.0533 1087.4 987.6967
4-Dec-18 361.85 1634.197 320.25 1838.682 940.5 920.5767 1083.95 994.7167
5-Dec-18 359.45 1593.592 317.65 1763.118 942.7 922.1367 1105 1002.087

8-Dec-18 354.65 1553.052 313.25 1687.708 927.5 923.2617 1086 1008.692

9-Dec-18 350.4 1512.19 306.7 1611.853 927.15 924.2833 1049.55 1014.023
10-Dec-18 352.5 1471.527 316.1 1535.903 930.95 925.41 1072 1019.623
11-Dec-18 347.9 1429.75 314.35 1457.835 933.9 926.7 1072.45 1024.687
12-Dec-18 346.6 1387.84 311.3 1380.122 932.35 928.0633 1059.7 1029.827
15-Dec-18 345.5 1345.64 310.35 1302.528 941.55 929.6017 1055.45 1034.597
16-Dec-18 330.65 1302.48 295.9 1222.337 925.6 930.0483 1009.6 1037.233
17-Dec-18 332.5 1258.828 302.05 1141.697 921.85 930.4283 1008.4 1039.202
18-Dec-18 345.2 1214.592 307.05 1059.19 934.05 931.1383 1056.05 1042.647
19-Dec-18 355.4 1170.252 304.25 977.92 940.8 932.5317 1041.75 1045.352
22-Dec-18 358.85 1126.647 307.65 897.0017 963.25 934.5 1056.25 1047.798
23-Dec-18 353.05 1082.28 307.05 815.985 959.5 936.235 1059.35 1049.418
24-Dec-18 353.15 1037.172 305.85 734.7767 945.75 937.37 1059.55 1050.783
26-Dec-18 351 992.4617 307.65 654.3933 947.9 938.4267 1068.65 1053.118
29-Dec-18 349.4 947.6017 307.4 571.6917 951.5 939.1667 1068.75 1054.908
30-Dec-18 350.8 903.5067 309.8 484.0133 956.35 940.3933 1082.85 1055.808
31-Dec-18 353 859.24 311.85 396.4233 952 941.0467 1084.5 1056.873
CALCULATION OF RELATIVE STRENGTH INDEX AND RATE OF

CHANGE
ROC ROC
Date RSI SBI RSI ICICI RSI HDFC RSI BOB ROC SBI ICICI HDFC ROC BOB
01-Jan-18 14 Days 14days 14days 14days
02-Jan-18
03-Jan-18
06-Jan-18
07-Jan-18
08-Jan-18
09-Jan-18
10-Jan-18
13-Jan-18
14-Jan-18
15-Jan-18
16-Jan-18
17-Jan-18
20-Jan-18 -7.0413 -4.85693 0.72175 -5.37479
21-Jan-18 30.89868 46.16969 59.54323 40.39985 -4.81492 0.344154 3.029611 -2.76069
22-Jan-18 32.0401 52.61202 69.2877 42.61838 -4.09941 1.8791 2.163262 -2.8156
23-Jan-18 38.38741 52.64654 66.29442 41.30351 -1.81317 3.689824 2.628399 -1.64603
24-Jan-18 37.40897 53.85992 61.19963 37.59214 -2.27745 0.761941 1.383979 -2.30239
27-Jan-18 37.4808 42.3884 39.94656 34.79532 -3.67585 -4.17438 -2.2493 -9.5102

28-Jan-18 38.45407 43.46687 37.75253 28.25707 -2.63254 -3.07656 -2.68456 -8.47376

29-Jan-18 37.57829 41.20674 38.80693 27.89655 -2.1879 -2.20585 -2.49943 -9.20892
30-Jan-18 34.22053 41.17021 33.51801 25.28125 -7.57636 -7.71161 -5.99777 -13.6695
31-Jan-18 27.98486 37.18289 23.63199 29.77974 -6.22657 -4.72748 -6.43458 -11.5595
03-Feb-18 25.95192 36.33673 23.09048 25.8588 -9.35171 -8.94317 -7.93709 -17.3484
04-Feb-18 28.34097 32.75357 19.29716 20.98587 -7.39157 -8.55446 -6.43965 -15.2379
05-Feb-18 30.22184 31.59736 27.41242 21.42019 -6.22361 -6.65217 -4.6536 -13.7462
06-Feb-18 30.02713 33.875 37.79849 22.23576 -8.33333 -8.28465 -3.35896 -13.5936
07-Feb-18 30.85944 32.48245 37.06541 31.71694 -7.94948 -10.85 -4.26302 -11.8229
10-Feb-18 25.40061 20.56282 29.90256 29.69521 -7.98724 -11.729 -5.00959 -10.9792
11-Feb-18 27.64799 21.06941 30.24242 29.42192 -8.36124 -10.1937 -5.04857 -10.7268
12-Feb-18 28.37767 32.33798 29.2563 30.81192 -5.50264 -5.54847 -4.19912 -6.77952
13-Feb-18 28.58144 32.78762 26.95357 29.89515 -5.95152 -2.85629 -2.53194 -6.72866
14-Feb-18 28.86963 44.06036 44.52102 38.61186 -7.57229 -3.01722 -0.54243 -5.54087
17-Feb-18 28.34423 47.50257 53.44603 38.59885 -6.37054 0.74854 0.766729 -4.01043
18-Feb-18 36.97171 58.71895 58.63663 43.48598 -1.21907 6.463196 4.451297 0.8156
19-Feb-18 48.14429 65.09179 72.48935 49.23633 -1.11104 4.264036 6.431865 -3.1879
20-Feb-18 41.4832 55.15105 69.85337 35.98739 -0.56046 4.643561 5.811447 -3.39637
21-Feb-18 52.70684 66.48663 72.68437 44.24508 -0.85092 5.63344 5.431766 -4.43441
24-Feb-18 48.83978 67.37645 73.06574 43.15038 -0.68043 7.250427 5.178908 -2.84819
25-Feb-18 46.81324 66.83181 71.02628 47.91496 0.166196 7.633668 3.622461 -0.07438
26-Feb-18 53.89785 70.8576 69.27671 50.02118 -0.33404 7.761892 4.398827 -3.53363
28-Feb-18 51.17438 71.33559 61.70848 46.91858 1.149046 8.769736 3.68932 -2.07185
03-Mar-18 50.99291 67.1898 63.84425 42.50449 0 6.248065 3.26306 -2.58882
04-Mar-18 56.54088 71.28755 65.11628 55.86871 1.109154 6.910183 3.84109 2.64376
05-Mar-18 58.22249 71.12646 63.85115 64.49483 4.924482 11.81716 5.661271 15.16178
06-Mar-18 67.5775 80.47172 76.8595 78.4087 6.853773 14.69547 5.259057 14.73468
07-Mar-18 82.67168 84.27238 82.83019 82.04693 11.90105 19.0054 9.345938 21.68618
10-Mar-18 85.53726 81.03013 84.85857 83.48805 12.82812 15.03734 11.17251 21.40599
11-Mar-18 79.62651 79.38917 77.18121 80.54084 11.03636 16.28099 8.366326 21.78944
12-Mar-18 71.39937 82.32233 75.40687 81.06061 11.01924 20.06049 9.47567 25.07791
13-Mar-18 78.58342 89.74991 82.93289 90.2696 9.892888 18.88265 11.65012 24.12695
14-Mar-18 77.05036 87.48512 75.89009 90.75655 9.448949 17.13472 9.176365 24.62049
18-Mar-18 79.76209 83.77404 75.24831 90.46752 12.71943 16.89143 9.384317 22.8808
19-Mar-18 81.32417 85.97475 75.90874 89.79922 12.20386 16.77441 9.077469 22.76869
20-Mar-18 73.34927 82.4842 70.81102 79.97685 9.548214 15.0618 9.483146 16.48052
21-Mar-18 74.46321 81.33575 76.57189 80.16624 12.12381 16.44734 10.16288 20.21628
22-Mar-18 77.34166 85.83901 76.23604 82.53172 9.85352 12.1361 9.172944 13.75423
24-Mar-18 76.77891 86.18038 78.6533 79.95259 9.656816 13.23885 12.15812 8.624632
25-Mar-18 76.18378 85.01577 78.93602 73.11446 10.4587 10.48825 10.96965 7.989921
26-Mar-18 77.87456 82.47694 75.86207 75.65287 7.244882 4.628319 4.87102 4.541955
27-Mar-18 77.7972 73.33601 67.55424 71.30682 8.762231 5.503434 1.715803 6.387868
28-Mar-18 79.0256 77.53285 56.59204 78.07525 13.55699 5.031499 2.702144 12.84666
31-Mar-18 83.4779 68.5624 65.60425 76.14679 16.63171 2.865992 3.211357 12.33357
01-Apr-18 85.03506 54.79956 57.30926 80.81551 14.69609 0.455572 -0.55911 14.14471
02-Apr-18 86.26416 58.25408 42.37288 84.89474 16.93378 2.372812 -0.15717 18.14998

03-Apr-18 78.46299 57.14762 47.58419 75.22889 11.59621 2.52324 -0.72913 14.48584

04-Apr-18 76.46908 58.753 44.22658 74.83204 11.53249 1.660814 -1.62646 14.56267
07-Apr-18 77.00427 49.62917 40.45977 72.85535 14.55943 0.678658 -0.74576 17.10321
009-Apr-18 85.57491 64.44937 57.53333 84.08163 16.54235 5.050042 1.124208 20.70438
10-Apr-18 86.1523 60.99324 53.32447 80.97607 19.05839 4.02354 0.942687 19.94358
11-Apr-18 80.35566 58.37983 53.97039 78.81024 15.58144 -0.55538 -1.67899 17.41353
15-Apr-18 74.36291 43.82137 30.74733 68.56719 12.77677 -2.75438 -3.4952 13.29219
16-Apr-18 72.93896 42.08737 32.91228 69.40221 10.83305 -2.7528 -2.7815 11.55376
17-Apr-18 74.58629 51.12583 31.54001 69.27421 9.68987 0.198491 -3.80213 11.03672
21-Apr-18 73.62772 54.52865 29.86065 69.0867 8.855303 1.811321 -3.80562 7.502738
22-Apr-18 66.42474 55.85224 38.80866 62.16675 6.83157 3.408407 -3.00461 8.213766
23-Apr-18 66.36089 60.8546 41.61883 68.96086 8.973107 6.148881 -0.52161 9.709267
25-Apr-18 71.3445 58.92157 42.9757 67.73439 7.73985 2.152831 -0.5886 4.413944
28-Apr-18 70.21176 56.49917 46.62379 62.4183 11.07711 3.129048 -0.42559 8.677823
29-Apr-18 69.90746 55.47401 42.64706 68.23459 8.457398 2.576503 -1.36401 8.038075
30-Apr-18 70.23865 52.80419 45.54572 68.58068 8.151905 2.956867 -0.97884 9.106644
02-May-18 63.82764 58.78364 45.04084 63.56441 3.101928 -0.6153 -3.40251 1.149425
05-May-18 57.85585 48.6168 31.73913 55.88235 0.888078 0.641977 -2.97083 2.904723
06-May-18 53.55714 57.02275 36.03209 56.53628 2.88071 3.160664 -2.45985 3.253074
07-May-18 61.66323 59.55579 34.69101 57.95065 5.597148 4.47026 -1.01604 6.829657
08-May-18 69.60784 68.47967 46.35983 72.91667 6.722796 5.489651 -0.85488 6.766123
09-May-18 76.36499 77.81222 66.63196 76.10811 7.676678 8.942155 5.378888 7.618492
12-May-18 77.10208 76.50126 79.57293 75.35316 8.357077 9.184191 10.51493 6.896332
13-May-18 75.92382 74.93822 77.81718 79.15094 11.0718 8.909853 8.377504 12.46477
14-May-18 80.58176 75.00513 68.93881 87.86913 10.56889 8.513914 5.583929 19.0157
15-May-18 78.98933 68.89693 70.08579 73.34544 9.406428 9.753407 8.516351 13.71883
16-May-18 84.02343 83.61417 77.49737 74.24449 14.67724 14.98999 10.94719 13.75449
19-May-18 87.46372 83.71219 79.06586 76.38541 24.43713 16.56432 13.39573 18.59398
20-May-18 86.9102 80.97206 84.81675 69.80885 21.50605 16.43638 13.56074 14.51495
21-May-18 78.17281 82.94666 81.22018 68.76525 20.25125 14.98243 12.97343 16.73951
22-May-18 83.52518 83.23064 78.10554 70.91092 22.83542 15.7238 11.95425 14.32366
23-May-18 87.888 83.61536 71.92029 72.77865 34.2878 14.60908 9.698485 18.40734
26-May-18 82.86091 80.15927 72.9021 64.56825 30.21125 14.14931 11.48663 13.28358
27-May-18 77.07364 79.35257 75.44413 61.14482 25.85226 12.26152 11.93241 9.867689
28-May-18 75.02896 78.76488 77.4533 58.47818 20.13163 5.913372 8.742736 5.380166
29-May-18 72.14593 64.14459 66.1912 56.39535 15.87967 2.758621 2.348633 4.509442
30-May-18 65.65996 54.39724 50.73404 50.51376 11.67051 1.122875 0.876524 -3.92983
02-Jun-18 68.00587 61.56377 59.7732 49.63202 15.83397 3.742064 5.765882 -8.73964
03-Jun-18 67.74098 59.51076 65.38702 35.70855 15.97999 4.67662 4.625048 -5.59505
04-Jun-18 69.17261 65.22609 59.15674 44.88829 11.10053 0.300382 1.472598 -4.64395
05-Jun-18 65.17325 48.96755 50.06649 41.43675 4.931907 -0.68996 -0.84996 -8.66223
06-Jun-18 60.0037 52.64991 51.02706 38.10746 8.158983 2.231958 -0.08582 -3.63898
09-Jun-18 61.14674 60.1032 51.42303 43.0839 9.887809 3.282732 1.259492 -3.20372
10-Jun-18 63.32444 61.67781 52.50991 40.99647 6.089259 2.060151 1.850237 -3.94403
11-Jun-18 62.04945 54.66888 56.06524 43.24814 -2.34461 0.510012 3.920203 -6.5682
12-Jun-18 43.87765 49.76303 66.41694 33.2202 -0.22224 0.506007 5.211074 -3.87571

13-Jun-18 41.24754 44.2928 62.49581 34.50099 -0.98207 -1.24007 3.814375 -5.40799

16-Jun-18 44.63363 42.42928 61.72544 41.1093 -1.18195 -2.78131 1.906728 -2.76714
17-Jun-18 54.05381 48.50096 58.54653 50.33142 2.090344 0.782418 4.429091 -0.1311
18-Jun-18 53.44734 46.44675 58.72071 46.03766 3.786538 0.141004 5.024556 1.737017
19-Jun-18 56.09687 48.53191 62.48516 49.92147 -1.44089 -3.48058 0.695164 -3.65693
20-Jun-18 42.92862 34.38881 51.72918 39.31835 -2.37203 -4.0768 -0.12734 -4.36882
23-Jun-18 45.53296 39.48598 48.42736 41.31737 -3.01793 -3.80819 0.593962 -6.30085
24-Jun-18 47.66728 43.30123 56.15269 43.43434 -1.38129 -1.52983 2.969313 -2.41188
25-Jun-18 49.50642 41.39807 60.33459 45.76148 -1.47869 -4.17749 1.116633 -4.0418
26-Jun-18 42.44604 33.28361 48.7766 36.60736 -1.77003 -5.60339 -0.90238 -6.1388
27-Jun-18 43.30384 29.5006 47.46318 35.87768 -1.05076 -6.51139 -0.25078 -4.80342
30-Jun-18 52.08231 38.64787 52.05263 47.34951 -0.17654 -3.3885 0.109696 -1.65377
01-Jul-18 48.98881 44.6075 51.41333 46.92029 -0.48259 -1.52065 -2.00024 0.319817
02-Jul-18 50.72392 48.6767 49.66851 51.17462 3.635352 1.587912 0.448806 4.747457
03-Jul-18 60.04931 54.27194 50.93484 60.1309 4.369487 2.546533 -0.22643 3.022285
04-Jul-18 64.75733 59.13706 58.30525 57.45575 1.682113 0.921261 1.169591 -0.09703
07-Jul-18 54.03771 50.39505 47.16312 46.5758 1.679207 2.150803 0.72542 0.897384
08-Jul-18 42.97161 48.38048 48.25397 41.9964 -1.1262 0.070847 0.545025 -1.38782
09-Jul-18 47.00281 48.30127 52.30167 47.20697 0.036813 0.314555 0.831815 0.312575
10-Jul-18 46.08019 48.37057 50.68818 48.23491 -2.05662 -1.585 0.432189 -1.02395
11-Jul-18 32.82056 39.11237 46.01465 36.57771 -8.94717 -5.7695 -2.00893 -9.27823
14-Jul-18 23.93595 31.19266 44.53298 30.70326 -10.3892 -5.32098 -0.92227 -8.22818
15-Jul-18 33.93723 45.32361 51.13924 40.77694 -5.24572 -0.69479 1.735064 -2.27821
16-Jul-18 42.74002 58.44313 59.89651 47.02396 -2.41206 5.361785 2.477312 -0.99852
17-Jul-18 46.58754 59.92236 56.79012 49.69728 -3.28568 2.13261 1.217508 -3.65958
18-Jul-18 38.8874 59.27095 54.92895 38.45279 -4.45203 2.747444 1.135949 -4.7535
21-Jul-18 36.71078 57.40924 52.14751 37.99314 -6.58806 2.089861 -1.3404 -5.00369
22-Jul-18 34.5651 55.35375 50.27051 36.32262 -6.23897 2.16987 0.322504 -5.04537
23-Jul-18 36.94586 58.69495 49.42376 44.33624 -5.8817 2.964204 -2.38804 -2.42802
24-Jul-18 37.83944 57.112 42.92146 51.63824 -4.72329 3.742376 0.255937 1.934739
25-Jul-18 35.54971 53.91373 47.48201 49.10371 -2.93199 4.488496 0.644462 3.632646
28-Jul-18 41.87641 56.39974 49.76798 58.49841 -3.53663 3.442132 -0.07226 3.799137
30-Jul-18 39.88846 62.94797 54.42105 61.693 -3.01823 7.09638 1.672829 7.229717
31-Jul-18 40.07164 62.16496 54.59345 59.64644 0.751585 8.660372 2.647294 11.09481
01-Aug-18 52.13287 69.75147 51.54536 76.33897 1.131794 9.826676 -0.14698 12.30615
04-Aug-18 55.66268 73.7599 48.31804 75.35944 -2.19975 7.018047 -1.645 8.271084
05-Aug-18 43.07233 67.28059 46.40592 72.26563 -4.01842 1.812823 -1.87291 8.593937
06-Aug-18 27.20909 47.44983 36.45346 64.45975 -6.58287 -0.1277 -2.62224 5.603219
07-Aug-18 23.89395 49.24078 39.61763 58.49732 -4.85272 -2.16626 -2.48063 4.990736
08-Aug-18 25.05971 40.50512 33.34869 55.23649 -4.2764 -3.05207 -3.83431 2.624656
11-Aug-18 28.5409 39.71511 33.87927 61.30517 -4.40967 -2.91262 -5.51256 7.032518
12-Aug-18 32.67435 45.7881 34.91479 65.80583 -4.36759 -2.78922 -3.43941 6.9442
13-Aug-18 22.97276 37.74487 39.27107 54.67532 -7.32075 -3.53762 -3.54429 -0.3796
14-Aug-18 18.61143 44.34676 42.96106 49.26394 -5.57332 0.115184 -1.16697 2.019616
18-Aug-18 37.07255 60.086 48.60694 55.34023 -2.80895 5.397864 0.301296 2.274564
19-Aug-18 42.15275 67.86341 47.62705 54.77252 -1.26065 3.591689 -1.74665 0.146694

20-Aug-18 41.19793 62.10286 41.98944 48.58089 -1.09437 4.718262 -1.5714 1.096882

21-Aug-18 53.97929 67.47549 49.16388 57.03413 1.164221 4.599025 2.011653 0.760329
22-Aug-18 60.32116 64.79247 63.49548 56.01983 2.549932 3.107922 4.113632 2.359094
25-Aug-18 56.01696 55.33395 62.89979 49.36326 1.593279 1.942107 2.85993 -1.54979
26-Aug-18 52.86765 55.73464 60.12573 45.80559 2.740403 4.36811 4.070162 -0.16809
27-Aug-18 60.18679 72.80659 62.65793 48.89837 2.701926 6.625381 3.05494 1.075942
28-Aug-18 52.86382 75.27809 64.03785 48.25812 1.871442 8.293039 5.858345 1.468104
01-Sep-18 60.30151 81.70397 73.36087 57.31449 3.759274 11.03125 6.042087 -0.11793
02-Sep-18 62.31558 79.01923 79.20792 49.57099 3.815836 8.68288 6.361891 -2.67725
03-Sep-18 58.05515 73.2903 74.8994 41.65625 5.60868 8.763774 5.453314 0.841722
04-Sep-18 64.89455 74.43147 69.98484 49.1338 5.343382 6.337981 3.166818 -0.24461
05-Sep-18 68.23362 64.65714 62.96505 52.13913 3.929265 1.209269 1.982577 -0.07902
08-Sep-18 67.48481 59.17684 66.29041 51.5493 5.098779 1.629889 4.841645 0.304225
09-Sep-18 66.14372 51.07514 72.76736 55.14993 6.396469 0.337115 5.465846 2.624404
10-Sep-18 68.27739 56.03592 69.10995 58.86288 3.452468 1.75484 3.054169 0.61588
11-Sep-18 67.74236 54.44262 63.43154 57.74648 3.082897 1.833908 0.980392 0.418547
12-Sep-18 64.78689 55.73805 56.07217 58.24847 4.643099 3.341368 1.416884 5.409177
15-Sep-18 67.36509 58.26546 61.16041 71.11369 5.260414 2.771431 2.047478 6.667415
16-Sep-18 59.37292 53.27028 54.66748 60.75322 2.42509 -0.95071 1.619651 4.021402
17-Sep-18 58.01983 47.3111 56.14035 63.35505 4.129326 -1.76352 0.409277 6.648677
18-Sep-18 70.70364 51.82573 58.28367 76.11533 4.607733 -2.09526 1.818074 7.601484
19-Sep-18 58.35472 43.03238 60.74766 69.40299 1.841756 -1.28544 0.168899 6.784428
22-Sep-18 59.87883 46.64529 48.78219 70.55854 4.015591 -0.12348 0.011673 7.602504
23-Sep-18 56.3336 41.12658 44.87836 61.58083 2.731109 -2.08751 -0.3815 5.907847
24-Sep-18 49.93813 38.78974 51.27226 57.33333 -1.11314 -2.05057 0.606775 2.293526
25-Sep-18 37.90486 34.94087 51.60051 50.66079 -7.24787 -6.46282 -1.47569 -0.2696
26-Sep-18 39.58441 32.79252 54.37538 51.81644 -4.84926 -4.50023 0.675988 -0.60888
29-Sep-18 39.72931 32.78 49.32203 48.84547 -4.13239 -7.2515 0.834257 -0.87681
30-Sep-18 40.36905 23.87258 58.26186 48.93617 -6.11402 -8.34344 1.941748 -2.29512
01-Oct-18 33.64503 23.75406 57.47321 43.14363 -7.71633 -8.72232 1.496463 -4.84563
07-Oct-18 27.73329 24.31918 53.7234 30.14781 -9.69782 -7.84844 0.302413 -8.84458
08-Oct-18 32.72639 30.99796 54.61659 26.74067 -5.92503 -5.02195 2.170205 -7.07672
09-Oct-18 43.30203 43.18424 67.95841 36.23384 -3.19276 -2.6944 4.932656 -6.07268
10-Oct-18 41.48404 38.73859 58.33671 31.94946 -6.39427 -6.73012 1.178736 -10.2571
13-Oct-18 38.97843 34.53501 57.96152 23.41846 -3.39498 -5.97918 1.901273 -8.82942
14-Oct-18 46.18268 33.3865 53.47551 27.60933 -3.08615 -6.37799 1.400642 -8.55915
16-Oct-18 39.28796 30.2983 50.90226 24.75969 -3.53293 -4.85879 1.237259 -6.60134
17-Oct-18 47.39893 44.36245 62.13174 31.3265 1.403071 -0.72531 3.677246 -3.67241
20-Oct-18 56.45135 53.38983 63.16806 37.59195 7.969811 4.782357 5.116006 -1.62762
21-Oct-18 69.39793 68.98029 64.52033 48.40295 5.798436 6.735225 2.829268 -1.54823
22-Oct-18 63.93529 66.15037 58.27815 45.71305 5.231869 7.780713 3.419347 -1.2128
23-Oct-18 64.10122 71.83021 62.27204 46.08472 5.732184 9.824072 2.868617 -1.42936
27-Oct-18 65.68779 77.02463 60.26411 50.58824 7.08213 10.07736 3.340437 0.62333
28-Oct-18 72.11484 81.32366 60.94699 57.91354 12.09385 11.9642 3.809358 6.268398
29-Oct-18 77.94961 81.39451 61.97531 65.97477 9.573762 10.6405 2.63067 5.523832
30-Oct-18 75.10815 80.55503 61.24161 72.31592 6.366294 8.30701 0.816304 4.585316

31-Oct-18 74.83176 78.59073 60.32632 73.17656 10.21295 11.33219 5.219447 8.355167

03-Nov-18 80.92565 89.70556 72.42268 84.65953 9.670334 11.20856 3.897067 9.713394
05-Nov-18 82.19061 90.28607 70.26126 84.27451 10.3345 13.24575 5.064748 9.217012
07-Nov-18 73.62955 90.78485 65.73063 84.38474 11.22219 15.16021 4.638305 10.75752
10-Nov-18 82.23126 88.84219 74.55041 89.66701 8.440709 10.71998 2.13487 12.69277
11-Nov-18 79.5795 87.67152 66.08569 91.07884 6.606566 9.567339 1.413724 15.73252
12-Nov-18 76.98265 87.18174 63.28616 91.41717 6.095839 8.1643 1.76359 15.23928
13-Nov-18 70.44971 78.48982 65.14925 81.03355 5.575508 7.731483 2.511888 12.47395
14-Nov-18 77.33693 81.48898 72.80308 82.23517 7.981102 7.546392 3.658673 14.10184
17-Nov-18 83.48306 72.79963 63.5668 85.1703 13.31805 6.439201 2.496795 16.79757
18-Nov-18 83.0001 75.01152 68.14205 82.97447 10.65916 4.983762 4.155496 14.33925
19-Nov-18 76.07362 71.36448 65.6746 76.04911 10.16763 4.878733 3.96545 14.54997
20-Nov-18 12.04039 71.99277 62.30588 77.20372 -88.7383 4.815389 2.479339 12.40752
21-Nov-18 12.28419 76.51515 65.82765 77.85117 -88.7088 6.678151 2.225389 11.64428
24-Nov-18 10.54749 78.80859 64.49468 76.21749 -88.6633 7.971743 3.783843 9.696108
25-Nov-18 9.953926 67.26612 67.81513 64.42634 -89.0394 3.874903 4.393317 6.339876
26-Nov-18 8.134521 57.33852 66.10455 63.51382 -88.8344 1.563242 5.778643 5.335207
27-Nov-18 8.24479 56.86751 72.49191 62.66947 -88.818 3.317337 4.805353 3.25075
28-Nov-18 8.754122 65.59274 73.60248 69.87361 -88.2577 4.189306 5.504436 7.662627
01-Dec-18 8.674847 63.77436 68.44139 65.10762 -88.3502 2.997539 4.244817 6.396034
02-Dec-18 8.530554 62.45873 62.95369 64.01281 -88.2776 4.623885 2.897839 8.577008
03-Dec-18 8.594531 68.95449 56.46637 70.42318 -88.612 5.77513 0.338965 7.127728
04-Dec-18 6.446091 10.65073 54.64345 66.85421 -89.1077 -78.3796 2.278288 2.661363
05-Dec-18 1.152958 10.77249 60.23883 63.30896 -89.1939 -78.6169 1.104676 4.983136
08-Dec-18 1.151328 10.34947 47.87695 58.34789 -89.2406 -78.9169 0.075529 4.699928
09-Dec-18 1.160654 10.26169 50.15887 52.77652 3.231235 -79.2552 1.040759 2.340208
10-Dec-18 65.39708 10.0012 56.37232 60 3.622357 -79.6713 -0.16622 3.191029
11-Dec-18 58.37838 7.494634 50.75431 57.65725 1.896272 -80.3773 -1.16414 2.981563
12-Dec-18 52.54083 5.226481 42.34289 53.98519 2.082309 -80.0472 -2.15144 4.599743
15-Dec-18 55.14286 5.343046 43.20913 60.30163 1.355323 -79.8183 -0.98849 4.308939
16-Dec-18 42.16134 5.378602 36.96658 49.55027 -3.25323 -80.8018 -2.32681 -0.51242
17-Dec-18 47.34266 4.856103 36.79632 48.71176 -6.03515 -81.0498 -3.71318 -7.33321
18-Dec-18 38.17734 3.629006 38.34249 42.78015 -3.88167 -80.359 -1.72033 -2.55594
19-Dec-18 37.68233 4.086578 45.1952 40.96774 -4.54902 -79.9271 -0.20684 -3.91976
22-Dec-18 41.38199 3.482931 58.93636 44.32049 -3.11762 -79.9872 3.303126 -2.86463
23-Dec-18 41.77116 2.019125 62.50578 44.30919 -4.12178 -2.43195 2.020202 -2.26948
24-Dec-18 38.44302 43.74101 52.30567 44.98355 -3.71478 -1.75268 0.323539 -4.11312
26-Dec-18 41.86992 43.89892 52.28471 42.14054 -1.78771 -1.02918 2.199461 -1.59761
29-Dec-18 44.89974 46.02574 61.74168 45.93831 0.228236 -0.28539 2.626328 1.829355
30-Dec-18 52.91353 50.31646 63.68322 58.76316 -1.99304 -0.48227 2.728396 1.012127
31-Dec-18 45.36532 50.39494 59.81352 53.69385 -0.79529 1.465938 1.938109 1.123596

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A STUDY ON PERFORMANCE OF SELECTED BANKING STOCKS

ACHARYA BANGALORE B SCHOOL Page 1

b) Carrying on business activities like manufacturing, trading.

 Optimal mix of funds

 System of internal control

 Future decision making

i) Finance is the backbone of business enterprise.

ACHARYA BANGALORE B SCHOOL Page 2

v) It deals with effective utilization of financial resources and analysis of cost of

The objectives of finance are as follows:

ACHARYA BANGALORE B SCHOOL Page 3

THE EVOLUTION OF FINANCIAL SYSTEM

ACHARYA BANGALORE B SCHOOL Page 4

Some of the Stock Market in India are-

1. National Stock Exchange

ACHARYA BANGALORE B SCHOOL Page 5

The BSE and NSE

HISTORY OF STOCK EXCHANGE IN INDIA

ACHARYA BANGALORE B SCHOOL Page 6

They are located at Ahmadabad, Vadodara, Bangalore, Bhubaneswar, Mumbai, Kolkata,

INVESTMENT IN BANKING STOCK

Thus, an investment may be defined as “a commitment of funds made in the expectation of

ACHARYA BANGALORE B SCHOOL Page 7

The characteristics features of investment are as follows:

i) Return: All investments are characterized by the expectation of a return. In fact,

ACHARYA BANGALORE B SCHOOL Page 8

c) The risk varies with the nature of investment. Investment in ownership

ROLE OF AN EQUITY/STOCK RESEARCH ANALYST

ACHARYA BANGALORE B SCHOOL Page 9

ACHARYA BANGALORE B SCHOOL Page 10

 History of Banking in India

HISTORY OF BANKING IN INDIA

ACHARYA BANGALORE B SCHOOL Page 11

 Early phase from 1786 to 1969 of Indian Banks

 Early phase from 1786 to 1969 of Indian Banks

1949: Enactment of Banking Regulation Act.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1961: Insurance cover extended to deposits.

1969: Nationalization of 14 major banks.

1971: Creation of credit guarantee corporation.

ACHARYA BANGALORE B SCHOOL Page 13

1975: Creation of regional rural banks.

1980: Nationalization of seven banks with deposits over 200 crore.

Currently Pradhan Mantri Jan Dhan Yojana is a scheme for comprehensive financial

INFLUENCE OF DEMONITIZATION ON BANKING SECTOR

ACHARYA BANGALORE B SCHOOL Page 14

Influence of Demonetization on Indian Economy

• Increase in Deposits: Demonetization has increased the deposits in Banks. Unaccounted

Bulk of the deposits so mobilised by SCBs have been deployed in:

(i) reverse repos of various tenors with the RBI; and

• Sagginess in Lending: Lending growth of the banks is considerably less even after

ACHARYA BANGALORE B SCHOOL Page 15

SCHEDULDED COMMERCIAL BANKS IN INDIA

ACHARYA BANGALORE B SCHOOL Page 16

ACHARYA BANGALORE B SCHOOL Page 17

The following are the Scheduled Banks in India (Public Sector):

The following are the Scheduled Banks in India (Private Sector):

 Axis Bank Ltd  Centurion Bank Ltd

 Indus land Bank Ltd  Bank of Punjab Ltd

 ICICI Bank Ltd  IDBI Bank Ltd

 South Indian Bank  Jammu & Kashmir Bank Ltd.

ACHARYA BANGALORE B SCHOOL Page 18