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INDEX

S.NO. Chapter 1. Chapter 2. Chapter 3. PARTICULARS


Introduction Company Profile Equity Analysis

PAGE NO.

Analysis of Indian companies


a. Infosys b. Dena Bank c. Dr.reddy d. Maruti Suzuki e. RCOM f. HDIL

Chapter 4

Bibliography

CHAPTER I - INTRODUCTION

INTRODUCTION
India is a developing country. Nowadays many people are interested to invest in financial markets especially on equities to get high returns, and to save tax in honest way. Equities are playing a major role in contribution of capital to the business from the beginning. Since the introduction of shares concept, large numbers of investors are showing interest to invest in stock market. In an industry plagued with skepticism and a stock market increasingly difficult to predict and contend with, if one looks hard enough there may still be a genuine aid for the Day Trader and Short Term Investor. The price of a security represents a consensus. It is the price at which one person agrees to buy and another agrees to sell. The price at which an investor is willing to buy or sell depends primarily on his expectations. If he expects the security's price to rise, he will buy it; if the investor expects the price to fall, he will sell it. These simple statements are the cause of a major challenge in forecasting security prices, because they refer to human expectations. As we all know firsthand, humans expectations are neither easily quantifiable nor predictable. If prices are based on investor expectations, then knowing what a security should sell for (i.e., fundamental analysis) becomes less important than knowing what other investors expect it to sell for. That's not to say that knowing what a security should sell for isn't important--it is. But there is usually a fairly strong consensus of a stock's future earnings that the average investor cannot disprove Fundamental analysis and technical analysis can co-exist in peace and complement each other. Since all the investors in the stock market want to make the maximum profits possible, they just cannot afford to ignore either fundamental or technical analysis.

NEED OF THE STUDY To start any business capital plays 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 dividends you earn when the company makes a profit. In the financial world, ownership is called Equity.

Advantages of selling stock:

A company can raise more capital than it could borrow. A company does not have to make periodic interest payments to creditors. A company 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 thereby making the markets more efficient.

OBJECTIVES OF THE STUDY


The objective of this project is to deeply analyze our Indian Automobile Industry for investment purpose by monitoring the growth rate and performance on the basis of historical data. The main objectives of the Project study are: Detailed analysis of Automobile industry which is gearing towards international standards Analyze the impact of qualitative factors on industrys and companys prospects Comparative analysis of three tough competitors TATA Motors, Maruti Suzuki and Mahindra and Mahindra through fundamental analysis. Suggesting as to which companys shares would be best for an investor to invest.

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 fundamental analysis and ratio analysis. Further, the study is based on information of last five years. The analysis is made by taking into consideration four companies i.e. TATA Motors, Maruti Suzuki , Ashok Leyland and Hero Honda. The scope of the study is limited for a period of five years. The scope is limited to only the fundamental analysis of the chosen stocks.

METHODOLOGY
Research design or research methodology 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 methodology used in the study for the completion of the project and the fulfillment of the project objectives. The sample of the stocks for the purpose of collecting secondary data has been selected on the basis of Random 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 automobile sector. The sample size for the number of stocks is taken as 3 for fundamental analysis of stocks as fundamental analysis is very exhaustive and requires detailed study.

LIMITATIONS
This study has been conducted purely to understand Equity analysis for investors. The study is restricted to three companies based on Fundamental analysis. The study is limited to the companies having equities. Detailed study of the topic was not possible due to limited size of the project. There was a constraint with regard to time allocation for the research study i.e. for a period of 45 days. Suggestions and conclusions are based on the limited data of five years.

CHAPTER II - REVIEW OF LITERATURE

WHATS THIS EQUITY ANALYSIS?


Professional investor will make more money & less loss than, who let their heart rule. Their head eliminate all emotions for decision making. Be ruthless & calculating, you are out to make money. Decision should be based on actual movement of share price measured both in money & percentage term & nothing else. Greed must be avoided patience may be a virtue, but impatience can frequently be profitable. In Equity Analysis anticipated growth, calculations are based on considered FACTS & not on HOPE. Equity analysis is basically a combination of two independent analyses, namely fundamental analysis & Technical analysis. The subject of Equity analysis, i.e. the attempt to determine future share price movement & its reliability by references to historical data is a vast one, covering many aspect from the calculating various FINANCIAL RATIOS, plotting of CHARTS to extremely sophisticated indicators.

A general investor can apply the principles by using the simplest of tools: pocket calculator, pencil, ruler, chart paper & your cautious mind, watchful attention. It should be pointed out that, this equity analysis does not discuss how to buy & sell shares, but does discuss a method which enables the investor to arrive at buying & selling decision. The financial analysts always need yardsticks to evaluate the efficiency & performances of any business unit at the time of investment. Fundamental analysis is useful in long term investment decision. In Fundamental analysis a companys goodwill, its performances, liquidity, leverage, turnover, profitability & financial health was checked & analysis with the help of ratio analysis for the purpose of long term successful investment. Technical analysis refers to the study of market generated data like prices & volume to determine the future direction of prices movements. Technical analysis mainly seeks to predict the short term price travels. The focus of technical analysis is mainly on the internal market data, i.e. prices & volume data. It appeals mainly to short term traders.

It is the oldest approach to equity investment dating back to the late 19th century.

EQUITY ANALYSIS.

ENVIRONMENT & ECONOMICAL ANALYSIS.

FUNDAMENTAL ANALYSIS

TECHNICAL ANALYSIS

FUNDAMENTAL ANALYSIS
Fundamental analysis is a method of forecasting the future price movements of a financial instrument based on economic, political, environmental and other relevant factors and statistics that will affect the basic supply and demand of whatever underlies the financial instrument. It is the study of economic, industry and company conditions in an effort to determine the value of a companys stock. Fundamental analysis typically focuses on key statistics in companys financial statements to determine if the stock price is correctly valued. The term simply refers to the analysis of the economic well-being of a financial entity as opposed to only its price movements. Fundamental analysis is the cornerstone of investing. The basic philosophy underlying the fundamental analysis is that if an investor invests re.1 in buying a share of a company, how much expected returns from this investment he has. The fundamental analysis is to appraise the intrinsic value of a security. It insists that no one should purchase or sell a share on the basis of tips and rumors. The fundamental approach calls upon the investors to make his buy or sell decision on the basis of a detailed analysis of the information about the company, about the industry, and the economy. It is also known as top-down approach. This approach attempts to study the economic scenario, industry position and the company expectations and is also known as economic-industry-company approach (EIC approach) Thus the EIC approach involves three steps: 1. 2. 3. Economic analysis Industry analysis Company analysis

COMPANY ANALYSIS INDUSTRY ANALYSIS ECONOMIC ANALYSIS

1. ECONOMIC ANALYSIS
The level of economic activity has an impact on investment in many ways. If the economy grows rapidly, the industry can also be expected to show rapid growth and vice versa. When the level of economic activity is low, stock prices are low, and when the level of economic activity is high, stock prices are high reflecting the prosperous outlook for sales and profits of the firms. The analysis of macro economic environment is essential to understand the behavior of the stock prices.

The commonly analyzed macro economic factors are as follows: Gross Domestic Product (GDP): GDP indicates the rate of growth of the economy. It represents the aggregate value of the goods and services produced in the economy. It consists of personal consumption expenditure, gross private domestic investment and government expenditure on goods and services and net exports of goods and services. The growth rate of economy points out the prospects for the industrial sector and the return investors can expect from investment in shares. The higher growth rate is more favorable to the stock market.

Savings and investment: It is obvious that growth requires investment which in turn requires substantial amount of domestic savings. Stock market is a channel through which the savings are made available to the corporate bodies. Savings are distributed over various assets like equity shares, deposits, mutual funds, real estate and bullion. The savings and investment patterns of the public affect the stock to a great extent. Inflation: Along with the growth of GDP, if the inflation rate also increases, then the real growth would be very little. The effects of inflation on capital markets are numerous. An increase in the expected rate of inflation is expected to cause a nominal rise in interest rates. Also, it increases uncertainty of future business and investment decisions. As inflation increases, it results in extra costs to businesses, thereby squeezing their profit margins and leading to real declines in profitability.

Interest rates: The interest rate affects the cost of financing to the firms. A decrease in interest rate implies lower cost of finance for firms and more profitability. More money is available at a lower interest rate for the brokers who are doing business with borrowed money. Availability of cheap funds encourages speculation and rise in the price of shares. Tax structure: Every year in March, the business community eagerly awaits the Governments announcement regarding the tax policy. Concessions and incentives given to a certain industry encourage investment in that particular industry. Tax reliefs given to savings encourage savings. The type of tax exemption has impact on the profitability of the industries.

Infrastructure facilities: Infrastructure facilities are essential for the growth of industrial and agricultural sector. A wide network of communication system is a must for the growth of the economy. Regular supply of power without any power cut would boost the production. Banking and financial sectors also should be sound enough to provide adequate support to the industry. Good infrastructure facilities affect the stock market favorably.

2. INDUSTRY ANALYSIS
An industry is a group of firms that have similar technological structure of production and produce similar products and Industry analysis is a type of business research that focuses on the status of an industry or an industrial sector (a broad industry classification, like "manufacturing"). Irrespective of specific economic situations, some industries might be expected to perform better, and share prices in these industries may not decline as much as in other industries. This identification of economic and industry specific factors influencing share prices will help investors to identify the shares that fit individual expectations

Industry Life Cycle: The industry life cycle theory is generally attributed to Julius Grodensky. The life cycle of the industry is separated into four well defined stages. Pioneering stage: The prospective demand for the product is promising in this stage and the technology of the product is low. The demand for the product attracts many producers to produce the particular product. There would be severe competition and only fittest companies survive this stage. The producers try to develop brand name, differentiate the product and create a product image. In this situation, it is difficult to select companies for investment because the survival rate is unknown. Rapid growth stage: This stage starts with the appearance of surviving firms from the pioneering stage. The companies that have withstood the competition grow strongly in market share and financial performance. The technology of the production would have improved resulting in low cost of production and good quality products. The companies have stable growth rate in this stage and they declare dividend to the shareholders. It is advisable to invest in the shares of these companies. Maturity and stabilization stage: the growth rate tends to moderate and the rate of growth would be more or less equal to the industrial growth rate or the gross domestic product growth rate. Symptoms of obsolescence may appear in the technology. To keep going, technological innovations in the production process and products should be introduced. The investors have to closely monitor the events that take place in the maturity stage of the industry.

Decline stage: demand for the particular product and the earnings of the companies in the industry decline. It is better to avoid investing in the shares of the low growth industry even in the boom period. Investment in the shares of these types of companies leads to erosion of capital.

Growth of the industry: The historical performance of the industry in terms of growth and profitability should be analyzed. The past variability in return and growth in reaction to macro economic factors provide an insight into the future.

Nature of competition: Nature of competition is an essential factor that determines the demand for the particular product, its profitability and the price of the concerned company scrips. The companies' ability to withstand the local as well as the multinational competition counts much. If too many firms are present in the organized sector, the competition would be severe. The competition would lead to a decline in the price of the product. The investor before investing in the scrip of a company should analyze the market share of the particular company's product and should compare it with the top five companies.

SWOT analysis: SWOT analysis represents the strength, weakness, opportunity and threat for an industry. Every investor should carry out a SWOT analysis for the chosen industry. Take for instance, increase in demand for the industrys product becomes its strength, presence of numerous players in the market, i.e. competition becomes the threat to a particular company. The progress in R & D in that industry is an opportunity and entry of multinationals in the industry is a threat. In this way the factors are to be arranged and analyzed.

3. COMPANY ANALYSIS
In the company analysis the investor assimilates the several bits of information related to the company and evaluates the present and future values of the stock. The risk and return associated with the purchase of the stock is analyzed to take better investment decisions. The present and future values are affected by a number of factors.

Competitive edge of the company: Major industries in India are composed of hundreds of individual companies. Though the number of companies is large, only few companies control the major market share. The competitiveness of the company can be studied with the help of the following; Market share: The market share of the annual sales helps to determine a companys relative competitive position within the industry. If the market share is high, the company would be able to meet the competition successfully. The companies in the market should be compared with like product groups otherwise, the results will be misleading. Growth of sales: The rapid growth in sales would keep the shareholder in a better position than one with stagnant growth rate. Investors generally prefer size and growth in sales because the larger size companies may be able to withstand the business cycle rather than the company of smaller size. Stability of sales: If a firm has stable sales revenue, it will have more stable earnings. The fall in the market share indicates the declining trend of company, even if the sales are stable. Hence the stability of sales should be compared with its market share and the competitors market share.

Earnings of the company: Sales alone do not increase the earnings but the costs and expenses of the company also influence the earnings. Further, earnings do not always increase with increase in sales. The companys sales might have increased but its earnings per share may decline due to rise in costs. Hence, the investor should not only depend on the sales, but should analyze the earnings of the company.

Financial analysis: The best source of financial information about a company is its own financial statements. This is a primary source of information for evaluating the investment prospects in the particular companys stock. Financial statement analysis is the study of a companys financial statement from various viewpoints. The statement gives the historical and current information about the companys operations. Historical financial statement helps to predict the future and the current information aids to analyze the present status of the company. The two main statements used in the analysis are Balance sheet and Profit and Loss Account.

The balance sheet is one of the financial statements that companies prepare every year for their shareholders. It is like a financial snapshot, the company's financial situation at a moment in time. It is prepared at the year end, listing the company's current assets and liabilities. It helps to study the capital structure of the company. It is better for the investor to avoid a company with excessive debt component in its capital structure. From the balance sheet, liquidity position of the company can also be assessed with the information on current assets and current liabilities.

Ratio analysis: Ratio is a relationship between two figures expressed mathematically. Financial ratios provide numerical relationship between two relevant financial data. Financial ratios are calculated from the balance sheet and profit and loss account. The relationship can be either expressed as a percent or as a quotient. Ratios summarize the data for easy understanding, comparison and interpretations.

Ratios for investment purposes can be classified into profitability ratios, turnover ratios, and leverage ratios. Profitability ratios are the most popular ratios since investors prefer to measure the present profit performance and use this information to forecast the future strength of the company. The most often used profitability ratios are return on assets, price earnings multiplier, price to book value, price to cash flow, and price to sales, dividend yield, return on equity, present value of cash flows, and profit margins.

a) Return on Assets (ROA) ROA is computed as the product of the net profit margin and the total asset turnover ratios. ROA = (Net Profit/Total income) x (Total income/Total Assets)

This ratio indicates the firm's strategic success. Companies can have one of two strategies: cost leadership, or product differentiation. ROA should be rising or keeping pace with the company's competitors if the company is successfully pursuing either of these strategies, but how ROA rises will depend on the company's strategy. ROA should rise with a successful cost leadership strategy because the companys increasing operating efficiency. An example is an increasing, total asset, turnover ratio as the company expands into new markets, increasing its market share. The company may achieve leadership by using its assets more efficiently. With a successful product differentiation strategy, ROA will rise because of a rising profit margin.

b) Return on Investment (ROI) ROI is the return on capital invested in business, i.e., if an investment Rs 1 crore in men, machines, land and material is made to generate Rs. 25 lakhs of net profit, then the ROI is 25%. The computation of return on investment is as follows: Return on Investment (ROI) = (Net profit/Equity investments) x 100

As this ratio reveals how well the resources of a firm are being used, higher the ratio, better are the results. The return on shareholders investment should be compared with the return of other similar firms in the same industry. The inert-firm comparison of this ratio determines whether the investments in the firm are attractive or not as the investors would like to invest only where the return is higher.

c) Return on Equity Return on equity measures how much an equity shareholder's investment is actually earning. The return on equity tells the investor how much the invested rupee is earning from the company. The higher the number, the better is the performance of the company and suggests the usefulness of the projects the company has invested in. The computation of return on equity is as follows:

Return on equity = (Net profit to owners/value of the specific owner's Contribution to the business) x 100 The ratio is more meaningful to the equity shareholders who are invested to know profits earned by the company and those profits which can be made available to pay dividend to them. d) Earnings per Share (EPS) This ratio determines what the company is earning for every share. For many investors, earnings are the most important tool. EPS is calculated by dividing the earnings (net profit) by the total number of equity shares. The computation of EPS is as follows: Earnings per share = Net profit/Number of shares outstanding

The EPS is a good measure of profitability and when compared with EPS of similar other companies, it gives a view of the comparative earnings or earnings power of a firm. EPS calculated for a number of years indicates whether or not earning power of the company has increased. e) Dividend per Share (DPS) The extent of payment of dividend to the shareholders is measured in the form of dividend per share. The dividend per share gives the amount of cash flow from the company to the owners and is calculated as follows: Dividend per share = Total dividend payment / Number of shares outstanding

The payment of dividend can have several interpretations to the shareholder. The distribution of dividend could be thought of as the distribution of excess profits/abnormal profits by the company. On the other hand, it could also be negatively interpreted as lack of investment opportunities. In all, dividend payout gives the extent of inflows to the shareholders from the company.

f) Dividend Payout Ratio From the profits of each company a cash flow called dividend is distributed among its shareholders. This is the continuous stream of cash flow to the owners of shares, apart from the price differentials (capital gains) in the market. The return to the shareholders, in the form of dividend, out of the company's profit is measured through the payout ratio. The payout ratio is computed as follows: Payout Ratio = (Dividend per share / Earnings per share) * 100

The percentage of payout ratio can also be used to compute the percentage of retained earnings. The profits available for distribution are either paid as dividends or retained internally for business growth opportunities. Hence, when dividends are not declared, the entire profit is ploughed back into the business for its future investments.

g) Dividend Yield Dividend yield is computed by relating the dividend per share to the market price of the share. The market place provides opportunities for the investor to buy the company's share at any point of time. The price at which the share has been bought from the market is the actual cost of the investment to the shareholder. The market price is to be taken as the cum-dividend price. Dividend yield relates the actual cost to the cash flows received from the company. The computation of dividend yield is as follows: Dividend yield = (Dividend per share / Market price per share) * 100

High dividend yield ratios are usually interpreted as undervalued companies in the market. The market price is a measure of future discounted values, while the dividend per share is the present return from the investment. Hence, a high dividend yield implies that the share has been under priced in the market. On the other hand a low dividend yield need not be interpreted as overvaluation of shares. A company that does not pay out dividends will not have a dividend yield and the real measure of the market price will be in terms of earnings per share and not through the dividend payments.

h) Price/Earnings Ratio (P/E) The P/E multiplier or the price earnings ratio relates the current market price of the share to the earnings per share. This is computed as follows: Price/earnings ratio = Current market price / Earnings per share

This ratio is calculated to make an estimate of appreciation in the value of a share of a company and is widely used by investors to decide whether or not to buy shares in a particular company. Many investors prefer to buy the company's shares at a low P/E ratio since the general interpretation is that the market is undervaluing the share and there will be a correction in the market price sooner or later. A very high P/E ratio on the other hand implies that the company's shares are overvalued and the investor can benefit by selling the shares at this high market price. i) Debt-to-Equity Ratio Debt-Equity ratio is used to measure the claims of outsiders and the owners against the firms assets. Debt-to-equity ratio = Outsiders Funds / Shareholders Funds The debt-equity ratio is calculated to measure the extent to which debt financing has been used in a business. It indicates the proportionate claims of owners and the outsiders against the firms assets. The purpose is to get an idea of the cushion available to outsiders on the liquidation of the firm.

Technical analysis:Technical analysis refers to the study of market generated data like prices & volume to determine the future direction of prices movements. Technical analysis mainly seeks to predict the short term price travels. It is important criteria for selecting the company to invest. It also provides the base for decision-making in investment. The one of the most frequently used yardstick to check & analyze underlying price progress. For that matter a verity of tools was consider. This Technical analysis is helpful to general investor in many ways. It provides important & vital information regarding the current price position of the company. Technical analysis involves the use of various methods for charting, calculating & interpreting graph & chart to assess the performances & status of the price. It is the tool of financial analysis, which not only studies but also reflecting the numerical & graphical relationship between the important financial factors.

The focus of technical analysis is mainly on the internal market data, i.e. prices & volume data. It appeals mainly to short term traders. It is the oldest approach to equity investment dating back to the late 19th century. It uses charts and computer programs to study the stocks trading volume and price movements in the hope of identifying a trend. In fact the decision made on the basis of technical analysis is done only after inferring a trend and judging the future movement of the stock on the basis of the trend. Technical Analysis assumes that the market is efficient and the price has already taken into consideration the other factors related to the company and the industry. It is because of this assumption that many think technical analysis is a tool, which is effective for short-term investing.

CHAPTER III - INDUSTRY PROFILE

FINANCIAL MARKET:

Financial markets are helpful to provide liquidity in the system and for smooth functioning of the system. These markets are the centers that provide facilities for buying and selling of financial claims and services. The financial markets match the demands of investment with the supply of capital from various sources.

According to functional basis financial markets are classified into two types. They are: Money markets (short-term) Capital markets (long-term) According to institutional basis again classified in to two types. They are Organized financial market Non-organized financial market. The organized market comprises of official market represented by recognized institutions, bank and government (SEBI) registered/controlled activities and intermediaries. The unorganized market is composed of indigenous bankers, moneylenders, individual professional and non-professionals. MONEY MARKET:

Money market is a place where we can raise short-term capital. Again the money market is classified in to Inter bank call money market Bill market and Bank loan market Etc. E.g.; treasury bills, commercial papers, CD's etc.

CAPITAL MARKET:

Capital market is a place where we can raise long-term capital. Again the capital market is classified in to two types and they are Primary market and Secondary market. E.g.: Shares, Debentures, and Loans etc.

PRIMARY MARKET: Primary market is generally referred to the market of new issues or market for mobilization of resources by the companies and government undertakings, for new projects as also for expansion, modernization, addition, diversification and up gradation. Primary market is also referred to as New Issue Market. Primary market operations include new issues of shares by new and existing companies, further and right issues to existing shareholders, public offers, and issue of debt instruments such as debentures, bonds, etc. The primary market is regulated by the Securities and Exchange Board of India (SEBI a government regulated authority).

Function: The main services of the primary market are origination, underwriting, and distribution. Origination deals with the origin of the new issue. Underwriting contract make the shares predictable and remove the element of uncertainty in the subscription. Distribution refers to the sale of securities to the investors. The following are the market intermediaries associated with the market: 1. Merchant banker/book building lead manager 2. Registrar and transfer agent 3. Underwriter/broker to the issue 4. Adviser to the issue 5. Banker to the issue 6. Depository 7. Depository participant Investors protection in the primary market: To ensure healthy growth of primary market, the investing public should be protected. The term investor protection has a wider meaning in the primary market. The principal ingredients of investors protection are: Provision of all the relevant information Provision of accurate information and Transparent allotment procedures without any bias.

SECONDARY MARKET
The primary market deals with the new issues of securities. Outstanding securities are traded in the secondary market, which is commonly known as stock market or stock exchange. The secondary market is a market where scrips are traded. It is a market place which provides liquidity to the scrips issued in the primary market. Thus, the growth of secondary market depends on the primary market. More the number of companies entering the primary market, the greater are the volume of trade at the secondary market. Trading activities in the secondary market are done through the recognized stock exchanges which are 23 in number including Over The Counter Exchange of India (OTCE), National Stock Exchange of India and Interconnected Stock Exchange of India.

Secondary market operations involve buying and selling of securities on the stock exchange through its members. The companies hitting the primary market are mandatory to list their shares on one or more stock exchanges in India. Listing of scrips provides liquidity and offers an opportunity to the investors to buy or sell the scrips.

The following are the intermediaries in the secondary market: 1. Broker/member of stock exchange buyers broker and sellers broker 2. Portfolio Manager 3. Investment advisor 4. Share transfer agent 5. Depository 6. Depository participants.

STOCK MARKETS IN INDIA:

Stock exchanges are the perfect type of market for securities whether of government and semi-govt bodies or other public bodies as also for shares and debentures issued by the joint-stock companies. In the stock market, purchases and sales of shares are affected in conditions of free competition. Government securities are traded outside the trading ring in the form of over the counter sales or purchase. The bargains that are struck in the trading ring by the members of the stock exchanges are at the fairest prices determined by the basic laws of supply and demand.

Definition of a stock exchange: Stock exchange means a body or individuals whether incorporated or not, constituted for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities. The securities include: Shares of public company. Government securities. Bonds

History of Stock Exchanges: The only stock exchanges operating in the 19th century were those of Mumbai setup in 1875 and Ahmedabad set up in 1894. These were organized as voluntary non-profit-marking associations of brokers to regulate and protect their interests. Before the control on securities under the constitution in 1950, it was a state subject and the Bombay securities contracts (control) act of 1925 used to regulate trading in securities. Under this act, the Mumbai stock exchange was recognized in 1927 and Ahmedabad in 1937. During the war boom, a number of stock exchanges were organized. Soon after it became a central subject, central legislation was proposed and a committee headed by A.D.Gorwala went into the bill for securities regulation. On the basis of the committees recommendations and public discussion, the securities contract (regulation) act became law in 1956.

Functions of Stock Exchanges: Stock exchanges provide liquidity to the listed companies. By giving quotations to the listed companies, they help trading and raise funds from the market. Over the hundred and twenty years during which the stock exchanges have existed in this country and through their medium, the central and state government have raised crores of rupees by floating public loans. Municipal corporations, trust and local bodies have obtained from the public their financial requirements, and industry, trade and commerce- the backbone of the countrys economy-have secured capital of crores or rupees through the issue of stocks, shares and debentures for financing their day-to-day activities, organizing new ventures and completing projects of expansion, diversification and modernization. By obtaining the listing and trading facilities, public investment is increased and companies were able to raise more funds. The quoted companies with wide public interest have enjoyed some benefits and assets valuation has become easier for tax and other purposes.

The major stock exchanges are: NSE(National Stock Exchange):

The National Stock Exchange of India Limited has genesis in the report of the High Powered Study Group on Establishment of New Stock Exchanges, which recommended promotion of a National Stock Exchange by financial institutions (FIs) to provide access to investors from all across the country on an equal footing. Based on the recommendations, NSE was promoted by leading Financial Institutions at the behest of the Government of India and was incorporated in November 1992 as a tax-paying company unlike other stock exchanges in the country. On its recognition as a stock exchange under the Securities Contracts (Regulation) Act, 1956 in April 1993, NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment commenced operations in November 1994 and operations in Derivatives segment commenced in June 2000

NSE's mission is setting the agenda for change in the securities markets in India. The NSE was setup with the main objectives of:

Establishing a nation-wide trading facility for equities and debt instruments. Ensuring equal access to investors all over the country through an appropriate communication network.

Providing a fair, efficient and transparent securities market to investors using electronic trading systems.

Enabling shorter settlement cycles and book entry settlements systems, and Meeting the current international standards of securities markets. The standards set by NSE in terms of market practices and technology, have become industry

benchmarks and are being emulated by other market participants. NSE is more than a mere market facilitator. It's that force which is guiding the industry towards new horizons and greater opportunities. BSE(Bombay Stock Exchange): The Stock Exchange, Mumbai, popularly known as "BSE" was established in 1875 as "The Native Share and Stock Brokers Association". It is the oldest one in Asia, even older than the Tokyo Stock Exchange, which was established in 1878. It is a voluntary non-profit making Association of Persons (AOP) and is currently engaged in the process of converting itself into demutualised and corporate entity. It has evolved over the years into its present status as the premier Stock Exchange in the country. It is the first Stock Exchange in the Country to have obtained permanent recognition in 1956 from the Govt. of India under the Securities Contracts (Regulation) Act 1956.The Exchange, while providing an efficient and transparent market for trading in securities, debt and derivatives upholds the interests of the investors and ensures redresses of their grievances whether against the companies or its own member-brokers. It also strives to educate and enlighten the investors by conducting investor education programmers and making available to them necessary informative inputs.

A Governing Board having 20 directors is the apex body, which decides the policies and regulates the affairs of the Exchange. The Governing Board consists of 9 elected directors, who are from the broking community (one third of them retire ever year by rotation), three SEBI nominees, six public representatives and an Executive Director & Chief Executive Officer and a Chief Operating Officer. The Executive Director as the Chief Executive Officer is responsible for the day-to-day administration of the Exchange and the Chief Operating Officer and other Heads of Department assist him. The Exchange has inserted new Rule No.126 A in its Rules, Byelaws pertaining to constitution of the Executive Committee of the Exchange. Accordingly, an Executive Committee, consisting of three elected directors, three SEBI nominees or public representatives, Executive Director & CEO and Chief Operating Officer has been constituted. The Committee considers judicial & quasi matters in which the Governing Board has powers as an Appellate Authority, matters regarding annulment of transactions, admission, continuance and suspension of member-brokers, declaration of a member-broker as defaulter, norms, procedures and other matters relating to arbitration, fees, deposits, margins and other monies payable by the member-brokers to the Exchange, etc. REGULATORY FRAME WORK OF STOCK EXCHANGE A comprehensive legal framework was provided by the Securities Contract Regulation Act, 1956 and Securities Exchange Board of India 1952.

Three tier regulatory structure comprising Ministry of finance The Securities And Exchange Board of India Governing body

Members of the stock exchange: The securities contract regulation act 1956 has provided uniform regulation for the admission of members in the stock exchanges. The qualifications for becoming a member of a recognized stock exchange are given below:

The minimum age prescribed for the members is 21 years. He should be an Indian citizen. He should be neither a bankrupt nor compound with the creditors. He should not be convicted for fraud or dishonesty. He should not be engaged in any other business connected with a company. He should not be a defaulter of any other stock exchange. The minimum required education is a pass in 12th standard examination.

SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI) The securities and exchange board of India was constituted in 1988 under a resolution of government of India. It was later made statutory body by the SEBI act 1992.according to this act, the SEBI shall constitute of a chairman and four other members appointed by the central government. With the coming into effect of the securities and exchange board of India act, 1992 some of the powers and functions exercised by the central government, in respect of the regulation of stock exchange were transferred to the SEBI. OBJECTIVES AND FUNCTIONS OF SEBI

To protect the interest of investors in securities. Regulating the business in stock exchanges and any other securities market. Registering and regulating the working of intermediaries associated with securities market as well as working of mutual funds.

Promoting and regulating self-regulatory organizations. Prohibiting insider trading in securities. Regulating substantial acquisition of shares and takeover of companies. Performing such functions and exercising such powers under the provisions of capital issues (control) act, 1947and the securities to it by the central government.

SEBI GUIDELINES TO SECONDARY MARKETS: (STOCK EXCHANGES):

Board of Directors of Stock Exchange has to be reconstituted so as to include non-members, public representatives and government representatives to the extent of 50% of total number of members.

Capital adequacy norms have been laid down for the members of various stock depending upon their turnover of trade and other factors.

exchanges

All recognized stock exchanges will have to inform about transactions within 24 hrs.

TYPES OF ORDERS: Buy and sell orders placed with members of the stock exchange by the investors. The orders are of different types. Limit orders: Orders are limited by a fixed price. E.g. buy Reliance Petroleum at Rs.50.Here, the order has clearly indicated the price at which it has to be bought and the investor is not willing to give more than Rs.50. Best rate order: Here, the buyer or seller gives the freedom to the broker to execute the order at the best possible rate quoted on the particular date for buying. It may be lowest rate for buying and highest rate for selling. Discretionary order: The investor gives the range of price for purchase and sale. The broker can use his discretion to buy within the specified limit. Generally the approximation price is fixed. The order stands as this buy BRC 100 shares around Rs.40. Stop loss order: The orders are given to limit the loss due to unfavorable price movement in the market. A particular limit is given for waiting. If the price falls below the limit, the broker is authorized to sell the shares to prevent further loss. E.g. Sell BRC limited at Rs.24, stop loss at Rs.22.

Buying and selling shares: To buy and sell the shares the investor has to locate register broker or sub broker who render prompt and efficient service to him. The order to buy or sell specifying the number of shares of the company of investors choice is placed with the broker. The order may be of any type. After receiving the order the broker tries to execute the order in his computer terminal. Once matching order is found, the order is executed. The broker then delivers the contract note to the investor. It gives the details regarding the name of the company, number of shares bought, price, brokerage, and the date of delivery of share. In this physical trading form, once the broker gets the share certificate through the clearing houses he delivers the share certificate along with transfer deed to the investor. The investor has to fill the transfer deed and stamp it. The stamp duty is one of the percentage considerations, the investor should lodge the share certificate and transfer deed to the register or transfer agent of the company. If it is bought in the DEMAT form, the broker has to give a matching instruction to his depository participant to transfer shares bought to the investors account. The investor should be account holder in any of the depository participant. In the case of sale of shares on receiving payment from the purchasing broker, the broker effects the payment to the investor. Share groups: The scrips traded on the BSE have been classified into A,B1,B2,C,F and Z groups. The A group represents those, which are in the carry forward system. The F group represents the debt market segment (fixed income securities). The Z group scrips are of the blacklisted companies. The C group covers the odd lot securities in A, B1&B2 groups.

ROLLING SETTLEMENT SYSTEM: Under rolling settlement system, the settlement takes place n days (usually 1, 2, 3 or 5days) after the trading day. The shares bought and sold are paid in for n days after the trading day of the particular transaction. Share settlement is likely to be completed much sooner after the transaction than under the fixed settlement system. The rolling settlement system is noted by T+N i.e. the settlement period is n days after the trading day. A rolling period which offers a large number of days negates the advantages of the system. Generally longer settlement periods are shortened gradually.

SEBI made RS compulsory for trading in 10 securities selected on the basis of the criteria that they were in compulsory demat list and had daily turnover of about Rs.1 crore or more. Then it was extended to A stocks in Modified Carry Forward Scheme, Automated Lending and Borrowing Mechanism (ALBM) and Borrowing and lending Securities Scheme (BELSS) with effect from Dec 31, 2001. SEBI has introduced T+5 rolling settlement in equity market from July 2001 and subsequently shortened the cycle to T+3 from April 2002. After the T+3 rolling settlement experience it was further reduced to T+2 to reduce the risk in the market and to protect the interest of the investors from 1st April 2003.

Activities on T+1: Conformation of the institutional trades by the custodian is sent to the stock exchange by 11.00 am. A provision of an exception window would be available for late confirmation. The time limit and the additional changes for the exception window are dedicated by the exchange. The exchanges/clearing house/ clearing corporation would process and download the obligation files to the brokers terminals late by 1.30 p.m on T+1. Depository participants accept the instructions for pay in securities by investors in physical form upto 4 p.m and in electronic form upto 6 p.m. the depositories accept from other DPs till 8p.m for same day processing. Activities on T+2: The depository permits the download of the paying in files of securities and funds till 10.30 a.m on T+2 from the brokers pool accounts. The depository processes the pay in requests and transfers the consolidated pay in files to clearing House/clearing Corporation by 11.00am/on T+2. The exchange/clearing house/clearing corporation executes the pay-out of securities and funds latest by 1.30 p.m on T+2 to the depositories and clearing banks. In the demat mode net basis settlement is allowed. The buy and sale positions in the same scrip can be settled and net quantity has to be settled.

COMPANY PROFILE

BACKGROUND
In 1982, a group of Hyderabad-based practicing Chartered Accountants started Karvy Consultants Limited with a capital of Rs.1,50,000 offering auditing and taxation services initially. Later, it forayed into the Registrar and Share Transfer activities and subsequently into financial services. All along, Karvy's strong work ethic and professional background leveraged with Information Technology enabled it to deliver quality to the individual. A decade of commitment, professional integrity and vision helped Karvy achieve a leadership position in its field when it handled the largest number of issues ever handled in the history of the Indian stock market in a year. Thereafter, Karvy made inroads into a host of capital-market services, - corporate and retail which proved to be a sound business synergy. Today, Karvy has access to millions of Indian shareholders, besides companies, banks, financial institutions and regulatory agencies. Over the past one and half decades, Karvy has evolved as a veritable link between industry, finance and people. In January 1998, Karvy became the first Depository Participant in Andhra Pradesh.

GROUP COMPANIES

KARVY CONSULTANTS LIMITED


Deals in Registrar and Investment Services.

KARVY SECURITIES LIMITED


Deals in distribution of various investment products, viz., equities, mutual funds, bonds and debentures, fixed deposits, insurance policies for the investor.

KARVY INVESTOR SERVICES LIMITED


Deals in Issue management, Investment Banking and Merchant Banking.

KARVY STOCK BROKING LIMITED


Deals in buying and selling equity shares and debentures on the National Stock Exchange (NSE), the Hyderabad Stock Exchange (HSE) and the over-the-counter Exchange of India(OTCEI).

As the flagship company of the Karvy Group, Karvy Consultants Limited has always remained at the helm of organizational affairs, pioneering business policies, work ethic and channels of progress. Having emerged as a leader in the registry business, the first of the businesses that we ventured into, we have now transferred this business into a joint venture with Computershare Limited of Australia, the worlds largest registrar. With the advent of depositories in the Indian capital market and the relationships that we have created in the registry business, we believe that we were best positioned to venture into this

activity as a Depository Participant. We were one of the early entrants registered as Depository Participant with NSDL (National Securities Depository Limited), the first Depository in the country and then with CDSL (Central Depository Services Limited).

Today, we service over 6 lakhs customer accounts in this business spread across over 250 cities/towns in India and are ranked amongst the largest Depository Participants in the country. With a growing secondary market presence, we have transferred this business to Karvy Stock Broking Limited (KSBL), our associate and a member of NSE, BSE and HSE.

IT enabled services
Our Technology Services division forms the ideal platform to unleash our technology initiatives and make our presence felt on the Internet. Our past achievements include many quality websites designed, developed and deployed by us. We also possess our own web hosting facilities with dedicated bandwidth and a state-of-the-art server farm (data center) with services functioning on a variety of operating platforms such as Windows, Solaris, Linux and Unix.

The corporate website of the company, www.karvy.com, gives access to in-depth information on financial matters including Mutual Funds, IPOs, Fixed Income Schemes, Insurance, Stock Market and much more. A link called Resource Center, devoted solely to research conducted by our team of experts on various financial aspects like Sector Research, deals exclusively with in-depth analysis of the key sectors of the Indian economy. Besides, a host of other links like My Portfolio which acts as a personalized and customized financial measure, makes this site extremely informative about investment options, market trends, news as also about our company and each of the services offered here.

Stock Broking Services | Distribution of Financial Products | Depository Participants | Advisory Services | Research | Private Client Group Member - National Stock Exchange (NSE), The Bombay Stock Exchange (BSE), and the Hyderabad Stock Exchange (HSE).

Karvy Stock Broking Limited, one of the cornerstones of the Karvy edifice, flows freely towards attaining diverse goals of the customer through varied services. Creating a plethora of opportunities for the customer by opening up investment vistas backed by research-based advisory services. Here, growth knows no limits and success recognizes no boundaries. Helping the customer create waves in his portfolio and empowering the investor completely is the ultimate goal.

Stock Broking Services

It is an undisputed fact that the stock market is unpredictable and yet enjoys a high success rate as a wealth management and wealth accumulation option. The difference between unpredictability and a safety anchor in the market is provided by in-depth knowledge of market functioning and changing trends, planning with foresight and choosing one’s options with care. This is what we provide in our Stock Broking services. We offer services that are beyond just a medium for buying and selling stocks and shares. Instead we provide services which are multi dimensional and multi-focused in their scope.

There are several advantages in utilizing our Stock Broking services, which are the reasons why it is one of the best in the country. We offer trading on a vast platform; National Stock Exchange, Bombay Stock Exchange and Hyderabad Stock Exchange. More importantly, we make trading safe to the maximum possible extent, by accounting for several risk factors and planning accordingly. We are assisted in this task by our in-depth research, constant feedback and sound advisory facilities. Our highly skilled research team, comprising of technical analysts as well as fundamental specialists, secure result-oriented information on market trends, market analysis and market predictions. This crucial information is given as a constant feedback to our customers, through daily reports delivered thrice daily.

The Pre-session Report, where market scenario for the day is predicted, The Mid-session Report, timed to arrive during lunch break , where the market forecast for the rest of the day is given and The Postsession Report, the final report for the day, where the market and the report itself is reviewed. To add to this repository of information, we publish a monthly magazine “ Karvy ; The Finapolis”, which analyzes the latest stock market trends and takes a close look at the various investment options, and products available in the market, while a weekly report, called “ Karvy Bazaar Baatein”, keeps you more informed on the immediate trends in the stock market. In addition, our specific industry reports give comprehensive information on various industries. Besides this, we also offer special portfolio analysis packages that provide daily technical advice on scrips for successful portfolio management and provide customized advisory services to help you make the right financial moves that are specifically suited to your portfolio. Our Stock Broking services are widely networked across India, with the number of our trading terminals providing retail stock broking facilities. Our services have increasingly offered customer oriented convenience, which we provide to a spectrum of investors, high-net worth or otherwise, with equal dedication and competence.

But true to our spirit, this success is not our final destination, but just a platform to launch further enhanced quality services to customer-friendly stock management. Over the years we have ensured that the trust of our customers is our biggest returns. Factors such as our success in the Electronic custody business has helped build on our tradition of trust even more. Consequentially our retail client base expanded very fast. To empower the investor further we have made serious efforts to ensure that our research calls are disseminated systematically to all our stock broking clients through various delivery channels like email, chat, SMS, phone calls etc. Our foray into commodities broking has been path breaking and we are in the process of converting existing traders in commodities into the more organized mainstream of trading in commodity futures, both as a trading and risk hedging mechanism.

In the future, our focus will be on the emerging businesses and to meet this objective, we have enhanced our manpower and revitalized our knowledge base with enhances focus on Futures and Options as well as the commodities business.

Depository Participants

The onset of the technology revolution in financial services Industry saw the emergence of Karvy as an electronic custodian registered with National Securities Depository Ltd (NSDL) and Central Securities Depository Ltd (CSDL) in 1998. Karvy set standards enabling further comfort to the investor by promoting paperless trading across the country and emerged as the top 3 Depository Participants in the country in terms of customer serviced.

Offering a wide trading platform with a dual membership at both NSDL and CDSL, we are a powerful medium for trading and settlement of dematerialized shares. We have established live DPMs, Internet access to accounts and an easier transaction process in order to offer more convenience to individual and corporate investors. A team of professional and the latest technological expertise allocated exclusively to our demat division including technological enhancements like SPEED-e, make our response time quick and our delivery impeccable. A wide national network makes our efficiencies accessible to all.

www.karvydp.com

Distribution of Financial Products

The paradigm shift from pure selling to knowledge based selling drives the business today. With our wide portfolio offerings, we occupy all segments in the retail financial services industry. A 1600 team of highly qualified and dedicated professionals drawn from the best of academic and professional backgrounds are committed to maintaining high levels of client service delivery. This has propelled us to a position among the top distributors for equity and debt issues with an estimated market share of 15% in terms of applications mobilized, besides being established as the leading procurer in all public issues.

To further tap the immense growth potential in the capital markets we enhanced the scope of our retail brand, Karvy the Fin polis, thereby providing planning and advisory services to the mass affluent. Here we understand the customer needs and lifestyle in the context of present earnings and provide adequate advisory services that will necessarily help in creating wealth. Judicious planning that is customized to meet the future needs of the customer deliver a service that is exemplary. The marketsavvy and the ignorant investors, both find this service very satisfactory. The edge that we have over competition is our portfolio of offerings and our professional expertise. The investment planning for each customer is done with an unbiased attitude so that the service is truly customized. Our monthly magazine, Fin polis, provides up-dated market information on market trends, investment options, opinions etc. Thus empowering the investor to base every financial move on rational thought and prudent analysis and embark on the path to wealth creation. http://mfportfolio.karvy.com

Advisory Services

Under our retail brand Karvy the Finapolis', we deliver advisory services to a cross-section of customers. The service is backed by a team of dedicated and expert professionals with varied experience and background in handling investment portfolios. They are continually engaged in designing the right investment portfolio for each customer according to individual needs and budget considerations with a comprehensive support system that focuses on trading customers' portfolios and providing valuable inputs, monitoring and managing the portfolio through varied technological initiatives. This is made possible by the expertise we have gained in the business over the years. Another venture towards being investor-friendly is the circulation of a monthly magazine called Karvy - the Finapolis'. Covering the latest of market news, trends, investment schemes and research-based opinions from experts in various financial fields. www.the-finapolis.com

Private Client Group

This specialized division was set up to cater to the high net worth individuals and institutional clients keeping in mind that they require a different kind of financial planning and management that will augment not just existing finances but their life-style as well. Here we follow a hard-nosed business approach with the soft touch of dedicated customer care and personalized attention. For this purpose we offer a comprehensive and personalized service that encompasses planning and protection of finances, planning of business needs and retirement needs and a host of other services, all provided on a one-to-one basis. Our research reports have been widely appreciated by this segment. The delivery and support modules have been fine tuned by giving our clients access to online portfolio information, constant updates on their portfolios as well as value-added advice on portfolio churning, sector switches etc. The investment recommendations given by our research team in the cash market have enjoyed a high success rate. KEY PEOPLE (BOARD OF DIRECTORS) 1. Parthasarathy C 2. Yugandhar M 3. Ramakrishna M S 4. Prasad v Potluri

Overview:
KARVY, is a premier integrated financial services provider, and ranked among the top five in the country in all its business segments, services over 16 million individual investors in various capacities, and provides investor services to over 300 corporates, comprising the who is who of Corporate India. KARVY covers the entire spectrum of financial services such as Stock broking, Depository Participants, Distribution of financial products - mutual funds, bonds, fixed deposit, equities, Insurance Broking, Commodities Broking, Personal Finance Advisory Services, Merchant Banking & Corporate Finance, placement of equity, Initial public offers, among others. Karvy has a professional management team and ranks among the best in technology, operations and research of various industrial segments.

Karvy the early days


The birth of Karvy was on a modest scale in 1981. It began with the vision and enterprise of a small group of practicing Chartered Accountants who founded the flagship company Karvy Consultants Limited. They started with consulting and financial accounting automation, and carved inroads into the field of registry and share accounting by 1985. Since then, they have utilized our experience and superlative expertise to go from strength to strengthto better our services, to provide new ones, to innovate, diversify and in the process, evolved Karvy as one of Indias premier integrated financial service enterprise. Thus over the last 20 years Karvy has traveled the success route, towards building a reputation as an integrated financial services provider, offering a wide spectrum of services. And they have made this journey by taking the route of quality service, path-breaking innovations in service, versatility in service a finally totally in service. Their values and vision of attaining total competence in their servicing has served as the building block for creating a great financial enterprise, which stands solid on their fortresses of financial strength - their various companies. With the experience of years of holistic financial servicing behind them and years of complete expertise in the industry to look forward to, they have now emerged as a premier integrated financial services provider.

KARVY has got 510 Branches Allover and is Employing 7000 people under it.

Karvy credo
Their Clients, Their Focus ; Clients are the reason for our being. Personalized service, professional care; pro-activeness are the values that help them nurture enduring relationships with their clients.

Respect for the individual;


Each and every individual is an essential building block of their Organiza tion. They are the kiln that hones individuals to perfection. Be they their employees, shareholders or investors. They do so by upholding their dignity & pride, inculcating trust and achieving a sensitive balance of their professional and personal lives.

Teamwork;
None of us is more important than all of us. Each team member is the face of Karvy. Together they offer diverse services with speed, accuracy and quality to deliver only one product: excellence.

Responsible Citizenship;
A social balance sheet is as rewarding as a business one. As a responsible corporate citizen, their duty is to foster a better environment in the society where they live and work. Abiding by its norms, and behaving responsibly towards the environment, is some of their growing initiatives towards realizing it.

Integrity:
Everything else is secondary . Professional and personal ethics are their bedrock. They take pride in an environment that encourages honesty and the opportunity to learn from failures than camouflage them. They insist on consistency between works and actions.

MILESTONES

Karvy Group of Companies

Karvys alliances:
Karvy Computer share Private Limited is a 50:50 joint venture of Karvy Consultants Limited and Computer share Limited, Australia. Computer share Limited is world's largest -- and only global hare registry, and a leading financial market services provider to the global securities industry. The joint venture with Computer share, reckoned as the largest registrar in the world, servicing over 60 million shareholder accounts for over 7,000 corporations across eleven countries spread across five continents. Computer share manages more than 70 million shareholder accounts for over 13,000 corporations around the world. Karvy Computer share Private Limited, today, is India's largest Registrar and Share Transfer Agent servicing over 300 corporate and mutual funds and 16 million investors.

Achievements:
Among the top 5 stock brokers in India (4% of NSE volumes) India's No. 1 Transfer Agents. Among the to top 3 Depository Participants Largest Network of Branches & 9002 certified operations by DNV. Among top 10 Investment bankers Largest Distributor of Financial Products. Adjudged as one of the top 50 IT uses in India by MIS Asia. Fully Fledged IT driven operations. Business Associates ISO Registrar & Securities

Quality policy:
To achieve and retain leadership, Karvy shall aim for complete customer satisfaction, by combining its human and technological resources, to provide superior quality financial services. In the process, Karvy will strive to exceed Customer's expectations.

Quality Objectives
As per the Quality Policy, Karvy will:

Build in-house processes that will ensure transparent and harmonious relationships investors to provide high quality of services.

with its clients and

1) Establish a partner relationship with its investor service agents and vendors that will help in keeping up its commitments to the customers. 2) Provide high quality of work life for all its employees and 3) Equip them with adequate knowledge & skills so as to respond to customer's needs. 4) Continue to uphold the values of honesty & integrity and strive to establish unparalleled standards in business ethics. 5) Use state-of-the art information technology in developing new and innovative financial products and services to meet the changing needs of investors and clients. 6) Strive to be a reliable source of value-added financial products and services and constantly guide the individuals and institutions in making a judicious choice of same. 7) Strive to keep all stake-holders (shareholders, clients, investors, employees, suppliers and regulatory authorities.

At Karvy Commodities, they are focused on taking commodities trading to new dimensions of reliability and profitability. They have made commodities trading, an essentially age-old practice, into a sophisticated and scientific investment option. Here they enable trade in all goods and products of agricultural and mineral origin that include lucrative commodities like gold and silver and popular items like oil, pulses and cotton through a well-systematized trading platform.

Their technological and infrastructural strengths and especially our street-smart skills make them an ideal broker. Their service matrix is holistic with a gamut of advantages, the first and foremost being their legacy of human resources, technology and infrastructure that comes from being part of the Karvy Group.

Their wide national network, spanning the length and breadth of India, further supports these advantages. Regular trading workshops and seminars are conducted to hone trading strategies to perfection. Every move made is a calculated one, based on reliable research that is converted into valuable information through daily, weekly and monthly newsletters, calls and intraday alerts. Further, personalized service is provided here by a dedicated team committed to giving hassle-free service while the brokerage rates offered are extremely competitive. Their commitment to excel in this sector stems from the immense importance that commodity broking has to a cross-section of investors farmers, exporters, importers, manufacturers and the Government of India itself. The reason for choosing the Karvy as the base to do the project is that Karvy has a variety of services that are provided by them in the financial markets and as a Finance student I feel that taking this company as the base we can know about the various financial services that take place in the market and gain knowledge about them and can have a more view of the financial markets through the ways the services are provided and the rules involved in providing these services by KARVY.

DATA ANALYSIS & INTERPRETATIONS

INFOSYS
Infosys is an information technology services company headquartered in Bengaluru, India. Infosys is one of the largest IT companies in India with 122,468 employees (including subsidiaries) as of 2010. It has offices in 33 countries and development centres in India, China, Australia, UK, Canada and Japan. Infosys was founded on 2 July 1981 by seven entrepreneurs, Nagavara Ramarao Narayana Murthy, Nandan Nilekani, Kris Gopalakrishnan, S. D. Shibulal, K Dinesh and with N. S. Raghavan officially being the first employee of the company. The founders started the company with an initial investment of INR 10,000. The company was incorporated as "Infosys Consultants Pvt Ltd." in Model Colony, Pune as the registered office.

Infosys headquarters in Bengaluru, India Infosys went public in 1993. Interestingly, Infosys IPO was under subscribed but it was bailed out by US investment banker Morgan Stanley which picked up 13% of equity at the offer price of Rs. 95 per share.[8] The share price surged to Rs. 8,100 by 1999. By the year 2000 Infosys's shares touched Rs. 310 before the catastrophic incident of September 11th, changed all that.[9] According to Forbes magazine, since listing on the Bombay Stock Exchange till the year 2000, Infosys' sales and earnings compounded at more than 70% a year.[10] In the year 2000, President of the United States Bill Clinton complimented India on its achievements in high technology areas citing the example of Infosys.[11] Infosys will invest $100 million (Rs 440 crore) on establishing a 20,000-seater campus in Shanghai.[12] In 2001, it was rated Best Employer in India by Business Today. Infosys was rated best employer to work for in 2000, 2001, and 2002 by Hewitt Associates. In 2007, Infosys received over 1.3 million applications and hired fewer than 3% of applicants Infosys was the only Indian company to win the Global MAKE (Most Admired Knowledge Enterprises) award for the years 2003, 2004 and 2005, and is inducted into the Global Hall of Fame for the same.

Infosys Technologies Ltd. Industry : Computers - Software BSE Code : 500209 NSE Code : INFOSYSTCH

You can view latest Board of Directors of the company. S.No Name 1 Mr. R Seshasayee 2 Mr. N R Narayana Murthy 3 Mr. T V Mohandas Pai 4 Mr. Srinath Batni 5 Mr. K Dinesh 6 Mr. S D Shibulal 7 Mr. Sridar A Iyengar 8 Prof. Marti G Subrahmanyam 9 Mr. David L Boyles 10 Dr. Omkar Goswami 11 Mr. K V Kamath 12 Prof. Jeffrey S Lehman 13 Mr. Deepak M Satwalekar 14 Mr. S Gopalakrishnan

Designation Additional Director Chairman & Chief Mentor Director Director Director Director & COO Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Managing Director & CEO

Share holdings pattern :


Above is the share holding pattern of INFOSYS which shows that Indian promoter share in the company is 16.05% that means if they are not in the position to raise further money from general public, Company already raised huge money by selling their large stake to institutional investors about 8.43%.Others also has very big stake in the company of about 18.78

BSE:
OPEN HIGH LOW CLOSE LAST PREVCLOSE TOTTRDQTY TIMESTAMP AVERAGE

Date 15-Dec-11 16-Dec-11 20-Dec-11 21-Dec-11 22-Dec-11 23-Dec-11 24-Dec-11 27-Dec-11 28-Dec-11 29-Dec-11 30-Dec-11 31-Dec-11 03-Jan-12 04-Jan-12 05-Jan-12 06-Jan-12 07-Jan-12 10-Jan-12 11-Jan-12 12-Jan-12 13-Jan-12 14-Jan-12 17-Jan-12 18-Jan-12 19-Jan-12 20-Jan-12 21-Jan-12 24-Jan-12 25-Jan-12 27-Jan-12 28-Jan-12 31-Jan-12

Open Price 3153 3211.1 3225.15 3350 3325.1 3340 3343.2 3360 3378 3377.15 3400 3427 3449 3453 3464.7 3473 3475 3380 3384 3348.15 3290 3206.8 3200 3248 3306.8 3238 3267 3244.4 3275 3266 3204.05 3139

High Price 3209 3296.95 3363 3370 3357 3366 3378 3391 3386 3406.8 3447 3454 3458.85 3489.9 3476 3492 3493.95 3441.8 3418.8 3388 3290 3277 3282 3332 3310 3297.85 3277 3287 3301 3275 3268.8 3139

Low Price 3150 3211.1 3225.15 3311 3313.5 3330 3340 3360 3364.15 3372 3400 3406.4 3427 3453 3447 3444 3356 3352 3290.25 3321.05 3201 3190 3192 3248 3237 3221 3233 3228.5 3235.35 3186 3145 3091.55

Close Price 3203.65 3292.3 3350.9 3329.25 3336.9 3362.5 3368.5 3378.75 3381.85 3399.5 3440.5 3445 3452.9 3468 3467.65 3475.85 3366.5 3396.65 3329.25 3374.95 3212.3 3201.95 3267.95 3318.15 3252 3289.1 3248.75 3278.2 3254.1 3195.2 3173.5 3116.3

WAP 3196.335605 3273.431605 3332.853212 3339.063551 3339.324609 3360.008814 3363.790416 3380.962499 3379.447715 3393.496588 3435.019576 3432.105913 3445.424991 3475.226844 3464.992952 3473.07083 3420.086561 3400.165103 3345.326401 3361.599817 3242.071787 3234.353351 3242.760343 3301.559123 3264.491404 3270.341111 3251.70629 3265.35484 3276.495309 3206.669275 3214.02738 3114.659411

No.of Shares 92463 137005 163774 89267 63233 113006 90885 42372 55303 120027 116162 64959 48314 61042 39728 95764 97931 155521 145456 110477 439701 192675 125475 218199 84576 121538 54227 54092 47641 114500 156211 76450

Average 3179.5 3254.025 3294.075 3340.5 3335.25 3348 3359 3375.5 3375.075 3389.4 3423.5 3430.2 3342.002083 3442.925 3471.45 3461.5 3468 3424.975 3396.9 3354.525 3354.525 3245.5 3233.5 3237 3290 3273.5 3259.425 3255 3257.75 3268.175 3230.5 3206.9 3115.275 3312.36625

3146.7 3219.4 3252.1 3350.55 3325 3344 3347 3357 3371 3381 3410 3433 3444 3457 3465 3480 3463.35 3375 3340 3350 3293 3186.15 3200 3250 3307.15 3232 3271 3240 3265 3269 3205.8 3138.5

3209 3300 3363.8 3369.6 3359.7 3372 3381.8 3391.8 3389.95 3415 3454 3451 3469.7 3499 3477 3493 3495 3443.15 3423.4 3390 3299 3277.9 3281.7 3335.7 3314 3307.4 3278 3290 3304.85 3269 3268.55 3138.5

3146.7 3210 3252 3311.05 3313.75 3329.25 3342.05 3357 3363.5 3371.1 3402 3405.15 3427.7 3457 3445.1 3444.1 3356.35 3352 3288.1 3318.2 3195 3185 3191.25 3250 3235.8 3218.1 3231 3227.3 3236.05 3185.5 3140.65 3086.2

3203.45 3293.3 3349.95 3329.25 3332.5 3367.9 3370.15 3376.9 3382.65 3404.9 3446.95 3442.75 3458.35 3481.45 3459.6 3478.15 3370.75 3395.75 3325.7 3377.3 3205.2 3204.3 3268.8 3323 3249.6 3295.9 3243.85 3284.65 3259.65 3196.9 3168.15 3117.7

3203 3295.8 3350 3333.25 3327.35 3370 3365.7 3379.8 3381.8 3410.1 3446.2 3435.1 3462.45 3470 3463.5 3476.95 3371.1 3387.5 3342.7 3368.05 3203.2 3200.6 3276 3323.95 3246 3295 3243.2 3288 3236.35 3195.7 3179 3110

3158.65 3203.45 3293.3 3349.95 3329.25 3332.5 3367.9 3370.15 3376.9 3382.65 3404.9 3446.95 3442.75 3458.35 3481.45 3459.6 3478.15 3370.75 3395.75 3325.7 3377.3 3205.2 3204.3 3268.8 3323 3249.6 3295.9 3243.85 3284.65 3259.65 3196.9 3168.15

1031799 1063643 1418290 1007480 740910 778938 452508 461470 319305 475365 1123961 732466 631068 1014911 440395 586480 1068866 1298801 1539927 1254425 2794109 1290205 1027327 1224646 866886 903981 578353 937670 1240739 1588831 1585537 968671

15-Dec-11 16-Dec-11 20-Dec-11 21-Dec-11 22-Dec-11 23-Dec-11 24-Dec-11 27-Dec-11 28-Dec-11 29-Dec-11 30-Dec-11 31-Dec-11 03-Jan-12 04-Jan-12 05-Jan-12 06-Jan-12 07-Jan-12 10-Jan-12 11-Jan-12 12-Jan-12 13-Jan-12 14-Jan-12 17-Jan-12 18-Jan-12 19-Jan-12 20-Jan-12 21-Jan-12 24-Jan-12 25-Jan-12 27-Jan-12 28-Jan-12 31-Jan-12

3177.85 3255 3307.9 3340.325 3336.725 3350.625 3361.925 3374.4 3376.725 3393.05 3428 3428.075 3344.21667 3448.7 3478 3461.05 3468.55 3425.675 3397.575 3355.75 3354.1 3247 3231.45 3236.475 3292.85 3274.9 3262.75 3254.5 3258.65 3270.45 3227.25 3204.6 3112.35 3313.13125

NSE:

TRADING STRATAGIES: Case-I: Intraday hedging on 20th dec, 3rd Jan, 25th Jan NSE On20 dec Buy Sell Price 3307.9 3349.95 No. of shares 100 100 profit Amount 330790 334995 4205 Sell Buy Price 3294.08 3350.9 No. of shares 100 100 loss Over all loss No. of shares 100 100 Over all loss On 25 Jan Buy Sell Price 3270.45 3259.05 No. of shares 100 100 Amount 327045 325905 -1140 Sell Buy Price 3268.18 3254.1 No. of shares 100 100 Over all profit Amount 326818 325410 1408 268
th th

BSE Amount 329408 335090 -5682 -1477 Amount 344273 345290 -1017 -52

On 3rd Jan Buy Sell Price 3448.7 3458.35 No. of shares 100 100 Amount 344870 345835 965 Sell Buy Price 3442.73 3452.9

Case-II If client bought on 21dec 100shares @3340.33 then his position:


Date 5th jan 13th Jan 24th jan price No. Of shares 3461.05 100 3247 100 3258.65 100 position 30015(profit) 9333(loss) 8168(loss)

Case-III If client bought 100 shares on 15th Dec when should he exit to book maximum profit? Price Beginning Date: 15th Dec High price rate date: 4th Jan Till last date : 31st Dec Case-IV If client sell I n NSE on 3rd Jan to keep stop loss and if client buy BSE keep stop loss NSE Buy Back 3552.16(limit) 3545 (trigger) Sell 3448.7 Buy 3442.92 Sell BSE 3580.64 3177.85 3478 3258.65 No. Of shares 100 100 100 30015(profit) 6550(loss) position

Buy back

3310.75

Sell

3345(trigger) 3339.63

Both the order do not execute because the high low values of the day are in NSE:3469.3, 3427.7 in BSE 3458.85, 3427

DENA BANK:

Dena Bank was founded by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. It found its new name, Dena Bank Ltd. when it was incorporated as a Public Company in Dec 1939 Dena Bank was nationalised (and therefore dropped the 'Ltd.' from its name) in 1969 along with 13 other banks in India. It is one of the earliest Banks in India.

Dena Bank has received acclaim for its revolutionary


Minor Savings Scheme. Credit card in rural India known as "DENA KRISHI SAKH PATRA" (DKSP). Drive-in ATM counter of Juhu, Mumbai. Smart card at selected branches in Mumbai. Customer rating system for rating the Bank Services.

Dena bank head office located in Mumbai has a network of 1122 branches spread across the country. The bank has a network of 295 ATMs all across India. Dena bank introduced core banking on March 2007 at its Mahim branch in Mumbai. In all, 850 branches out of the 1122 branches including extension counters of the Bank are schedule for coverage. Milestones

One among six Public Sector Banks selected by the World Bank for sanctioning a loan of Rs.72.3 crores for augmentation of Tier-II Capital under Financial Sector Developmental project in the year 1995. One among the few Banks to receive the World Bank loan for technological upgradation and training. Launched a Bond Issue of Rs.92.13 crores in November 1996. Maiden Public Issue of Rs.180 Crores in November 1996. Introduced Tele banking facility of selected metropolitan centers.

Industry : Finance - Banks - Public Sector BSE Code: 532121 NSE Code: DENABANK Board of Directors of the company S.No 1 2 3 4 5 6 7 8 Name Mr. D L Rawal Dr. Tarsem Chand Mr. I M Almeida Dr. Pritam Singh Mr. Rohit Khanna Mr. B P Vijayendra Dr. Sunil Gupta Mr. A K Dutt Designation Chairman and Managing director Director Director Director Director Director Director Executive Director

Share holdings pattern :


Above is the share holding pattern of DENA BANK which shows that Indian promoter share in the company is 51.19% . Company already raised huge money by selling their large stake to corporate bodies of about 17.6. General Public also have quite large stake in the company compare to its competitors.

Financial institutions

15.96

8.86 17.6

Foreign holdings

Corporate bodies

4.94 51.19
Directors and employees General public

BSE:
Open Price 122 114 117 116.25 114 116.25 116 116.1 110.25 112 112 112.35 118 117.25 115 111.4 111.45 109.5 104.5 103 106 102 101 98.5 97.7 100.8 104.5 110.1 108.4 107.05 103 99 High Price 122 118.2 117.4 117.55 117.95 122.5 116 116.1 112.75 113.5 112.85 117.3 118.5 117.45 115 113.2 112.35 110 106.35 106 106.5 103.8 101 100.2 102.5 105.9 109.8 110.6 109.6 108.6 103.9 105.35 Low Price 112.75 113.2 114.6 115.5 114 115.5 114 112.05 110.25 111 110.5 112.1 116.1 113.95 110.55 109.9 108.05 102.25 100.55 101.7 101.2 99.2 97.5 96.3 97 99 104.5 106.8 105.75 102.2 98.6 99 Close Price 113.9 117.5 115.25 116.25 116.25 115.85 114.95 112.35 111.7 112.6 111.55 116.55 116.65 114.75 111.35 111.4 108.5 104.05 102.45 105.6 101.65 100.3 98.05 97.55 101.55 105.35 108.95 107.75 106.35 103.3 101.9 104.8 No.of Shares 807837 1077188 343417 277954 398705 403745 229013 272911 177267 210144 269282 421760 255939 327554 397821 361421 502480 505430 556578 598014 431678 515248 375763 398618 525168 677330 688014 433922 607191 863883 473099 605318

Date 15-Dec-11 16-Dec-11 20-Dec-11 21-Dec-11 22-Dec-11 23-Dec-11 24-Dec-11 27-Dec-11 28-Dec-11 29-Dec-11 30-Dec-11 31-Dec-11 03-Jan-12 04-Jan-12 05-Jan-12 06-Jan-12 07-Jan-12 10-Jan-12 11-Jan-12 12-Jan-12 13-Jan-12 14-Jan-12 17-Jan-12 18-Jan-12 19-Jan-12 20-Jan-12 21-Jan-12 24-Jan-12 25-Jan-12 27-Jan-12 28-Jan-12 31-Jan-12

WAP 116.4611029 116.4133977 116.0101684 116.6644948 116.2212839 116.8507077 114.982656 113.5974255 111.8363655 112.5831953 111.4697195 115.3458934 117.5521745 115.1005269 112.3117734 111.6287349 110.0917569 107.0091566 103.5269863 103.8458514 103.3602153 101.3294045 99.12385732 97.97842797 100.8658658 103.0905467 108.179867 109.2280732 107.6689213 105.6390101 101.2389436 102.6879227

Average 117.375 115.7 116 116.525 115.975 119 115 114.075 111.5 112.25 111.675 114.7 114.98125 117.3 115.7 112.775 111.55 110.2 106.125 103.45 103.85 103.85 101.5 99.25 98.25 99.75 102.45 107.15 108.7 107.675 105.4 101.25 102.175 105.9175

NSE:
OPEN HIGH LOW CLOSE LAST PREVCLOSE TOTTRDQTY TIMESTAMP AVG 121 121.25 112 113.85 113.45 121.5 3546040 15-Dec-11 116.625 114.35 118.2 113 117.55 117.85 113.85 5192794 16-Dec-11 115.6 117.5 118 114.4 115.1 115.1 117.55 1458536 20-Dec-11 116.2 116 117.5 115.5 116 116 115.1 1592305 21-Dec-11 116.5 116.9 117.7 114.6 116.15 116 116 1912306 22-Dec-11 116.15 117.3 118.3 115.2 115.5 115.35 116.15 2026940 23-Dec-11 116.75 115.25 115.75 114.05 114.9 114.8 115.5 1078177 24-Dec-11 114.9 114.9 115.75 112 112.35 112.1 114.9 1407019 27-Dec-11 113.875 113 113.45 110.9 111.5 111.3 112.35 964822 28-Dec-11 112.175 111.6 113.5 111.2 112.6 112.6 111.5 1139405 29-Dec-11 112.35 110.05 112.95 108.4 111.55 111.6 112.6 1776763 30-Dec-11 110.675 112.4 117.5 112 116.5 116 111.55 1715032 31-Dec-11 114.75 114.7125 117 118.55 116.15 116.65 116.6 116.5 1056526 03-Jan-12 117.35 117.55 117.6 113.9 114.85 115 116.65 1458158 04-Jan-12 115.75 113.3 114 110.25 111.1 110.9 114.85 1443595 05-Jan-12 112.125 111.5 113.25 109.9 111.45 111.1 111.1 1849199 06-Jan-12 111.575 111 112.25 107.5 108.2 107.75 111.45 2188707 07-Jan-12 109.875 108.25 109.85 102.1 103.6 102.95 108.2 1563352 10-Jan-12 105.975 103.6 106.8 100.2 101.8 103.2 103.6 2582145 11-Jan-12 103.5 101.5 106.2 101.35 105.8 105.85 101.8 1978474 12-Jan-12 103.775 105.8 106.6 101.2 101.7 101.7 105.8 1676882 13-Jan-12 103.9 102 103.8 99 100.3 99.7 101.7 2060515 14-Jan-12 101.4 100.3 101 97.6 98 98 100.3 1278230 17-Jan-12 99.3 98.5 100.9 96.15 97.55 97.9 98 1565788 18-Jan-12 98.525 97.85 102.7 97.8 101.65 102.5 97.55 3248749 19-Jan-12 100.25 100 106.4 99 105.7 105.75 101.65 2462764 20-Jan-12 102.7 105.5 109.9 104.6 109 109 105.7 2627556 21-Jan-12 107.25 110 110.7 106.8 107.7 107 109 1764860 24-Jan-12 108.75 108 109.7 105.75 106.4 106.3 107.7 2073151 25-Jan-12 107.725 108.55 108.55 102.1 103.2 102.9 106.4 3163697 27-Jan-12 105.325 104 104 98.7 102.05 102.3 103.2 2001195 28-Jan-12 101.35 102 105.45 99.15 104.75 105.45 102.05 2607199 31-Jan-12 102.3 105.935

TRADING STRATAGIES: Case-I: Intraday hedging on 20th dec, 3rd Jan, 25th Jan NSE
20 Dec Buy Sell Price No. of shares Amount 116.2 100 11620 115.1 100 11510 -110 3 Jan Buy Sell Price No.of shares Amount 117.35 100 11735 116.65 100 11665 -70 25 Jan Buy Sell Price No. of shares Amount 107.725 100 10772.5 106.4 100 10640 -132.5 Sell Buy Price 107.68 106.35 No. of shares 100 100 Amount 10768 10635 133 0.5
th rd th

BSE Price 116 115.25 No. of shares 100 100 Amount 11600 11525 75 -35 Amount 11730 11665 65 -5

Sell Buy

Over all loss


Price 117.3 116.65 No. of shares 100 100

Sell Buy

Over all loss

Over all profit

Case-II If client bought on 21dec 100shares @116.5 then his position: No. Of shares

Date 5th jan 13th Jan 24th jan

price 112.13 103.9 108.75

position 100 437(loss) 100 1260(loss) 100 775(loss)

Case-III If client bought 100 shares on 15th Dec when should he exit to book maximum profit? Price Beginning Date: 15th Dec High price rate date:3rd Jan Till last date : 31st Dec Case-IV If client sell I n NSE on 3rd Jan to keep stop loss and if client buy BSE keep stop loss 116.63 117.35 102.3 No. Of shares 100 100 100 72(profit) 1433(loss) position

NSE Buy Back 120.12(limit) 115 (trigger) Sell 117.39 Buy Sell

BSE 121.992

117.3

Buy back

112.09

Sell

115(trigger) 113.78(limit)

Both the order do not execute because the high low values of the day are in NSE: 118.55, 116.15 in BSE 118.5, 116.1

DRREDDY: Dr. Reddy's Laboratories Ltd., trading as Dr. Reddy's, founded in 1984 by Dr. K. Anji Reddy, has become India's second biggest pharmaceutical company. Dr. Anji Reddy had worked in the publiclyowned Indian Drugs and Pharmaceuticals Ltd. Reddy's manufactures and markets a wide range of pharmaceuticals in India and overseas. The company has over 190 medications, 60 active pharmaceutical ingredients for drug manufacture, diagnostic kits, critical care, and biotechnology products. Dr. Reddy's began as a supplier to Indian drug manufacturers, but it soon started exporting to other lessregulated markets that had the advantage of not having to spend time and money on a manufacturing plant that that would gain approval from a drug licensing body such as the U.S. Food and Drug Administration (FDA). By the early 1990s, the expanded scale and profitability from these unregulated markets enabled the company to begin focusing on getting approval from drug regulators for their formulations and bulk drug manufacturing plants in more-developed economies. This allowed their movement into regulated markets such as the US and Europe. By 2007, Dr. Reddy's had six FDA-plants producing active pharmaceutical ingredients in India and seven FDA-inspected and ISO 9001 (quality) and ISO 14001 (environmental management) certified plants making patient-ready medications five of them in India and two in the UK. In 2010, the family-controlled Dr Reddys denied that it was in talks to sell its generics business in India to US phamarceutical giant Pfizer, which had been suing the company for alleged patent infringement after Dr Reddys announced that it intended to produce a generic version of Atorvastatin, marketed by Pfizer as Lipitor, an anti-cholesterol medication. Reddys was already linked to UK pharmaceuticals multinational Glaxo Smithkline.

As a fully integrated pharmaceutical company, our purpose is to provide affordable and innovative medicines through our three core businesses:

Pharmaceutical Services and Active Ingredients, comprising our Active Pharmaceuticals and Custom Pharmaceuticals businesses; Global Generics, which includes branded and unbranded generics; and Proprietary Products, which includes New Chemical Entities (NCEs), Differentiated Formulations, and Generic Biopharmaceuticals.

Our products are marketed globally, with a focus on India, US, Europe and Russia. Dr. Reddys conducts NCE research in the areas of metabolic disorders, cardiovascular indications, anti-infectives and inflammation. Our strong portfolio of businesses, geographies and products gives us an edge in an increasingly competitive global market and allows us to provide affordable medication to people across the world, regardless of geographic and socio-economic barriers.

Industry : Pharmaceuticals BSE Code : 500124 NSE Code : DRREDDY Board of Directors of the company. S.No Name 1 2 3 4 5 6 7 8 9 10 Dr. K Anji Reddy Mr. Ravi Bhoothalingam Ms. Kalpana Morparia Dr. Omkar Goswami Mr. Anupam Puri Dr. Ashok S Ganguly Dr. Bruce L A Carter Dr. J P Moreau Mr. Satish Reddy Mr. G V Prasad

Designation Chairman / Chair Person Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Managing Director & COO Vice Chairman & CEO

Share holdings pattern :


Above is the share holding pattern of DR.REDDY which shows that Indian promoter share in the company is 25.69% .Foreign promoters has large stake in the company about 28.49%.Others has the stake of about 16.51

Financial institutions Foreign holdings Corporate bodies

16.51 8.57

15.71

28.49 25.69

Directors and employees General public Others

5.02

BSE:
Open Price 1820 1810 1780 1719.55 1642.4 1680 1681 1695.7 1693.8 1690 1688 1685 1666 1674.9 1700 1724 1719.9 1680 1660 1680 1671 1647 1656 1640 1679 1650.95 1680 1653 1657 1594 1545 1594 High Price 1829.6 1810 1780 1736.1 1710.4 1709 1692.35 1730.45 1711 1710 1693 1697 1687 1703.8 1720 1728.9 1719.9 1680 1701.9 1680 1671 1696.15 1680 1684.5 1686.05 1678.9 1680 1654 1668.5 1595 1573 1628.25 Low Price 1775 1780 1700.35 1667.25 1618 1664.45 1670.3 1687.3 1682 1684.85 1676.1 1658.1 1665 1672 1695.9 1711.3 1640 1625 1660 1624.8 1635 1638.7 1625.75 1627.35 1645.55 1645.6 1648.8 1626 1575.25 1549 1526 1551.55 Close Price 1789.8 1786.1 1709.1 1687.75 1677.4 1682 1682.05 1693.8 1693.2 1692.05 1684.65 1662.55 1671.85 1694.15 1710.75 1716.3 1678.15 1655.15 1675.1 1668.15 1641.6 1648 1639.55 1674.2 1662.05 1672.25 1651.75 1635.7 1584.1 1552.4 1566.2 1624.45 No.of Shares 7622 7175 25667 105163 217333 29689 13888 31870 52504 17022 27302 33895 15450 19124 51873 19142 43287 28127 13780 20321 21867 38697 11134 10315 8003 9483 51739 10208 102797 32880 23440 134094

Date 15-Dec-11 16-Dec-11 20-Dec-11 21-Dec-11 22-Dec-11 23-Dec-11 24-Dec-11 27-Dec-11 28-Dec-11 29-Dec-11 30-Dec-11 31-Dec-11 03-Jan-12 04-Jan-12 05-Jan-12 06-Jan-12 07-Jan-12 10-Jan-12 11-Jan-12 12-Jan-12 13-Jan-12 14-Jan-12 17-Jan-12 18-Jan-12 19-Jan-12 20-Jan-12 21-Jan-12 24-Jan-12 25-Jan-12 27-Jan-12 28-Jan-12 31-Jan-12

WAP 1803.918263 1792.326411 1728.170413 1707.197712 1672.377278 1692.716056 1681.674827 1711.207593 1693.850488 1694.730878 1684.930152 1672.144033 1675.619417 1689.340567 1708.129142 1719.597116 1682.240118 1654.537526 1680.69775 1649.723291 1643.637856 1663.870713 1646.783905 1656.199127 1665.490441 1664.772962 1653.478343 1638.220317 1622.223557 1559.762257 1548.850085 1602.842275

Average 1802.3 1795 1740.175 1701.675 1664.2 1686.725 1681.325 1708.875 1696.5 1697.425 1684.55 1677.55 1711.358333 1676 1687.9 1707.95 1720.1 1679.95 1652.5 1680.95 1652.4 1653 1667.425 1652.875 1655.925 1665.8 1662.25 1664.4 1640 1621.875 1572 1549.5 1589.9 1652.635

NSE:
OPEN HIGH LOW CLOSE LAST PREVCLOSE TOTTRDQTY TIMESTAMP AVG 1825 1831.2 1776 1791.1 1812.7 1828.7 502684 15-Dec-11 1803.6 1802 1804.9 1780.05 1788.8 1790 1791.1 363005 16-Dec-11 1792.475 1778 1780 1697 1704.2 1706.3 1788.8 492541 20-Dec-11 1738.5 1710 1736 1662.75 1686.7 1687 1704.2 628992 21-Dec-11 1699.375 1633.95 1711 1616.1 1676.85 1678.25 1686.7 1542182 22-Dec-11 1663.55 1680.05 1708.15 1674.3 1683.05 1683.1 1676.85 234427 23-Dec-11 1691.225 1685 1695.1 1671.05 1683.85 1685.55 1683.05 123058 24-Dec-11 1683.075 1676 1733.5 1676 1694.15 1695 1683.85 275337 27-Dec-11 1704.75 1686 1712.2 1680.2 1689.75 1685.7 1694.15 200531 28-Dec-11 1696.2 1681 1707.8 1681 1693.6 1693.1 1689.75 190744 29-Dec-11 1694.4 1690 1695 1676.55 1685 1682 1693.6 385308 30-Dec-11 1685.775 1685 1687 1656.35 1662.85 1667 1685 539132 31-Dec-11 1671.675 1710.38333 1671 1686 1664 1670.5 1665.45 1662.85 175654 03-Jan-12 1675 1672 1704.7 1670 1696.25 1697 1670.5 316378 04-Jan-12 1687.35 1696 1723.6 1694 1715.25 1712 1696.25 459834 05-Jan-12 1708.8 1722 1728 1710 1716.35 1715 1715.25 293116 06-Jan-12 1719 1714 1717.85 1636.35 1672.65 1650 1716.35 209191 07-Jan-12 1677.1 1670 1679.65 1625 1654.35 1665 1672.65 282587 10-Jan-12 1652.325 1665 1704 1658.15 1670.9 1672 1654.35 229644 11-Jan-12 1681.075 1675.1 1682 1622 1669.4 1680 1670.9 239626 12-Jan-12 1652 1670.05 1672 1633 1642.2 1643 1669.4 267098 13-Jan-12 1652.5 1644 1698 1640 1651.45 1650 1642.2 234306 14-Jan-12 1669 1651 1683 1622 1640.7 1640 1651.45 229055 17-Jan-12 1652.5 1655 1683 1626.15 1671.65 1681 1640.7 171365 18-Jan-12 1654.575 1680.2 1689 1649.05 1657.85 1655.5 1671.65 126403 19-Jan-12 1669.025 1635.5 1678 1635.5 1666.25 1669.85 1657.85 312008 20-Jan-12 1656.75 1674 1679.9 1648.1 1651.95 1652.5 1666.25 601634 21-Jan-12 1664 1647 1651.65 1623.1 1636.1 1637 1651.95 869281 24-Jan-12 1637.375 1647 1668.8 1569 1578.85 1589 1636.1 928542 25-Jan-12 1618.9 1581 1590 1546.5 1555.05 1550 1578.85 1086363 27-Jan-12 1568.25 1547.25 1567 1525.3 1563.3 1562 1555.05 295558 28-Jan-12 1546.15 1591 1632 1589.25 1624.25 1630 1563.3 580773 31-Jan-12 1610.625 1652.615

TRADING STRATAGIES: Case-I: Intraday hedging on 20th dec, 3rd Jan, 25th Jan NSE 20 Dec: Buy Sell Price 1738.5 1704.2 No. of shares 100 100 Amount 173850 170420 -3430 Sell Buy Price 1740.18 1709.1 Over all loss 3 Jan: Buy Sell Price 1675 1670.5 No. of shares 100 100 Amount 167500 167050 -450 Sell Buy Price 1676 1671.85 Over all loss 25 Jan: Buy Sell Price 1618.9 1578.85 No. of shares 100 100 Amount 161890 157885 -4005 Sell Buy Price 1621 1584.1 Over all profit No. of shares 100 100 Amount 162100 158410 3690 315
th rd th

BSE No. of shares 100 100 Amount 174018 170910 3108 -322 Amount 167600 167185 415 -35

No. of shares 100 100

Case-II If client bought on 21dec 100shares @1699.38 then his position: Date 5th jan 13th Jan 24th jan price No. Of shares 1708.8 100 1652.33 100 1637.38 100 position 942(profit) 4705(loss) 6200(loss)

Case-III If client bought 100 shares on 15th Dec when should he exit to book maximum profit? Price Beginning Date: 15th Dec High price rate date:15th Dec Till last date : 31st Dec Case-IV If client sell I n NSE on 3rd Jan to keep stop loss and if client buy BSE keep stop loss 1803.6 1803.6 1610.625 No. Of shares 100 100 100 0(no profit) 19297(loss) position

NSE Buy Back 1725.25(limit) 1720 (trigger) Sell 1675 Buy Sell

BSE 1742

1675

Buy back

1608

Sell

1630(trigger) 1624.75(limit)

Both the order do not execute because the high low values of the day are in NSE:1686, 1664 in BSE : 1687, 1665

MARUTI SUZUKI: Maruti Suzuki India Limited a partial subsidiary of Suzuki Motor Corporation of Japan, is India's largest passenger car company, accounting for over 45% of the domestic car market. The company offers a complete range of cars from entry level Maruti 800 and Alto, to hatchback Ritz, A star, Swift, Wagon-R, Estillo and sedans DZire, SX4 and Sports Utility vehicle Grand Vitara.[3] It was the first company in India to mass-produce and sell more than a million cars. It is largely credited for having brought in an automobile revolution to India. It is the market leader in India and on 17 September 2007, Maruti Udyog Limited was renamed Maruti Suzuki India Limited. The company's headquarters are located in New Delhi. Prashant Kumar CEO & MD Suzuki Motor Corp.. Currently doing training at MSD. Rajesh DPM , MSD Maruti Suzuki is India and Nepal's number one leading automobile manufacturer and the market leader in the car segment, both in terms of volume of vehicles sold and revenue earned. Until recently, 18.28% of the company was owned by the Indian government, and 54.2% by Suzuki of Japan. The BJPled government held an initial public offering of 25% of the company in June 2003. As of 10 May 2007, Govt. of India sold its complete share to Indian financial institutions. With this, Govt. of India no longer has stake in Maruti Udyog. Maruti Udyog Limited (MUL) was established in February 1981, though the actual production commenced in 1983 with the Maruti 800, based on the Suzuki Alto kei car which at the time was the only modern car available in India, its only competitors- the Hindustan Ambassador and Premier Padmini were both around 25 years out of date at that point. Through 2004, Maruti Suzuki has produced over 5 Million vehicles. Maruti Suzukis are sold in India and various several other countries, depending upon export orders. Models similar to Maruti Suzukis (but not manufactured by Maruti Udyog) are sold by Suzuki Motor Corporation and manufactured in Pakistan and other South Asian countries. The company annually exports more than 50,000 cars and has an extremely large domestic market in India selling over 730,000 cars annually. Maruti 800, till 2004, was the India's largest selling compact car ever since it was launched in 1983. More than a million units of this car have been sold worldwide so far. Currently, Maruti Suzuki Alto tops the sales charts and Maruti Suzuki Swift is the largest selling in A2 segment. Due to the large number of Maruti 800s sold in the Indian market, the term "Maruti" is commonly used to refer to this compact car model ("Maruti" is another name of the Hindu god, Hanuman). Maruti Suzuki has been the leader of the Indian car market for over two decades. Its manufacturing facilities are located at two facilities Gurgaon and Manesar south of Delhi. Maruti Suzukis Gurgaon facility has an installed capacity of 350,000 units per annum. The Manesar facilities, launched in February 2007 comprise a vehicle assembly plant with a capacity of 100,000 units per year and a Diesel Engine plant with an annual capacity of 100,000 engines and transmissions. Manesar and Gurgaon facilities have a combined capability to produce over 700,000 units annually.

More than half the cars sold in India are Maruti Suzuki cars. The company is a subsidiary of Suzuki Motor Corporation, Japan, which owns 54.2 per cent of Maruti Suzuki. The rest is owned by public and financial institutions. It is listed on the Bombay Stock Exchange and National Stock Exchange in India.
Industry : Auto - Cars & Jeeps BSE Code : 532500 NSE Code : MARUTI

Board of Directors of the company: . S.No 1 2 3 4 5 6 7 8 9 10 11 Name Mr. R C Bhargava Mr. Manvinder Singh Banga Mr. Keiichi Asai Ms. Pallavi Shroff Mr. Davinder Singh Brar Mr. Kenichi Ayukawa Mr. Amal Ganguli Mr. Osamu Suzuki Mr. Shuji Oishi Mr. Tsuneo Ohashi Mr. Shinzo Nakanishi Designation Chairman / Chair Person Director Director Director Director Director Director Director Director (Marketing) Director (Production) Managing Director & CEO
Foreign Holdings Govt./Financial Instutions 21.07% Corporate Bodies Foreign Promoters General Public 5.26% Others

Share holdings pattern:


Being a venture of Japanese company Suzuki, big stake of the company is held by foreign promoters which show that they can divest their part (small part) to raise money in future. However foreign holdings and institutional investors also held 38.07% major stake in the company but general public have very small part which shows that less presence of share in the secondary market hence low volume trading in stock marke

Share Holding Pattern 2.36%


0.10%

54.21%

17.00%

BSE:
Open Price 1414 1420 1385 1427 1430.95 1397.5 1396 1399 1399.4 1408 1425 1427 1430 1437.95 1427 1425 1384 1348 1324 1324.7 1330 1320 1289.95 1275 1283 1270 1265 1261 1301 1299 1274 1192 High Price 1414.75 1420 1426 1454.9 1434 1400 1401 1409 1406.4 1421.95 1437.5 1429.75 1450 1452.2 1435 1425 1384 1348 1331 1331 1330 1321 1298.4 1285.9 1284.5 1270 1270 1299 1309 1299 1274 1262.7 Low Price 1391 1366 1346.8 1405.15 1383.3 1385 1368 1387.6 1385.5 1391.55 1410 1414 1421.3 1405.15 1412 1366 1340.05 1318 1305 1296 1302.1 1270 1255 1268 1266 1247 1243.05 1257 1280 1263 1225 1170 Close Price 1394.05 1381.7 1414.45 1428.95 1398.75 1392.1 1392.25 1394.6 1397.9 1416.1 1416.95 1420.6 1427.65 1429.25 1415.1 1372.85 1343.6 1327.6 1323.7 1318.5 1313.1 1275.3 1273.7 1278.55 1272.3 1263.95 1253.95 1291.05 1288.2 1272.4 1233.55 1252.8 No.of Shares 25463 24548 51296 78679 69270 19337 29940 17313 26343 31400 33623 19096 50942 153545 31352 44343 71026 38587 32099 45143 76819 39168 26285 17621 14110 16912 25731 26506 34576 24149 31201 117181

Date 15-Dec-11 16-Dec-11 20-Dec-11 21-Dec-11 22-Dec-11 23-Dec-11 24-Dec-11 27-Dec-11 28-Dec-11 29-Dec-11 30-Dec-11 31-Dec-11 03-Jan-12 04-Jan-12 05-Jan-12 06-Jan-12 07-Jan-12 10-Jan-12 11-Jan-12 12-Jan-12 13-Jan-12 14-Jan-12 17-Jan-12 18-Jan-12 19-Jan-12 20-Jan-12 21-Jan-12 24-Jan-12 25-Jan-12 27-Jan-12 28-Jan-12 31-Jan-12

WAP 1398.327888 1379.111333 1383.447871 1431.554684 1402.710336 1392.045147 1382.300134 1397.656039 1398.024637 1409.516433 1424.283586 1421.970936 1435.255938 1422.254473 1421.698201 1389.174954 1353.47239 1331.708477 1319.844855 1312.937155 1317.973314 1290.727252 1269.138862 1278.603825 1273.166336 1258.525662 1252.968559 1275.780088 1290.553187 1273.473312 1241.804942 1219.930176

Average 1402.875 1393 1386.4 1430.025 1408.65 1392.5 1384.5 1398.3 1395.95 1406.75 1423.75 1421.875 1403.714583 1435.65 1428.675 1423.5 1395.5 1362.025 1333 1318 1313.5 1316.05 1295.5 1276.7 1276.95 1275.25 1258.5 1256.525 1278 1294.5 1281 1249.5 1216.35 1314.23375

NSE:
OPEN HIGH LOW CLOSE LAST PREVCLOSE TOTTRDQTY TIMESTAMP AVG 1414 1414.95 1387.6 1395 1396 1413.85 222327 15-Dec-11 1401.275 1398 1399 1365.25 1378 1373 1395 338077 16-Dec-11 1382.125 1380.5 1422 1346 1414.85 1418.25 1378 325141 20-Dec-11 1384 1416.6 1454.8 1402.5 1423.3 1423.1 1414.85 610373 21-Dec-11 1428.65 1425.05 1431 1384.2 1394.1 1390.25 1423.3 297205 22-Dec-11 1407.6 1390.25 1399.95 1385.1 1392.35 1391.45 1394.1 346689 23-Dec-11 1392.525 1391 1398.45 1368 1391.5 1395.9 1392.35 208168 24-Dec-11 1383.225 1398 1407.8 1386.7 1394.35 1393 1391.5 149330 27-Dec-11 1397.25 1400 1406 1386.05 1395.2 1395 1394.35 193304 28-Dec-11 1396.025 1394.1 1424 1386.35 1417.9 1420.65 1395.2 228653 29-Dec-11 1405.175 1422 1439.5 1413 1420.45 1413 1417.9 231775 30-Dec-11 1426.25 1420.8 1430.5 1415 1421.6 1426 1420.45 153415 31-Dec-11 1422.75 1402.2375 1430 1450 1418.5 1426.05 1427 1421.6 300162 03-Jan-12 1434.25 1427 1453.4 1404.05 1428.75 1424 1426.05 540328 04-Jan-12 1428.725 1428 1435 1406.35 1412.45 1406.35 1428.75 275096 05-Jan-12 1420.675 1415.05 1425 1366.3 1373.9 1371.15 1412.45 353272 06-Jan-12 1395.65 1365 1367.7 1337.55 1340.55 1345.15 1373.9 493731 07-Jan-12 1352.625 1349 1350 1318.2 1326 1334 1340.55 254474 10-Jan-12 1334.1 1325 1330.7 1305.95 1318.45 1314 1326 394195 11-Jan-12 1318.325 1324 1328.9 1294.9 1317.65 1313.15 1318.45 316610 12-Jan-12 1311.9 1320 1325 1301.6 1315.55 1316 1317.65 263445 13-Jan-12 1313.3 1316 1319 1263.3 1269.7 1280 1315.55 468849 14-Jan-12 1291.15 1270 1280 1255 1269.6 1268 1269.7 206244 17-Jan-12 1267.5 1276 1285.05 1268.05 1277.6 1276 1269.6 210065 18-Jan-12 1276.55 1284 1284 1266.5 1272.7 1273 1277.6 233334 19-Jan-12 1275.25 1267.55 1268 1245.1 1259.25 1259 1272.7 186731 20-Jan-12 1256.55 1264 1267.7 1238.2 1248.65 1249 1259.25 361853 21-Jan-12 1252.95 1269 1299.95 1255 1292.5 1299.8 1248.65 285343 24-Jan-12 1277.475 1305 1305 1276.05 1288.15 1292 1292.5 237024 25-Jan-12 1290.525 1299.8 1299.8 1263.1 1269.7 1270 1288.15 188751 27-Jan-12 1281.45 1272 1272 1220 1229.35 1228 1269.7 609439 28-Jan-12 1246 1199 1264.45 1150.3 1252.85 1255 1229.35 1056178 31-Jan-12 1207.375 1311.61625

TRADING STRATAGIES: Case-I: Intraday hedging on 20th dec, 3rd Jan, 25th Jan NSE 20 Dec Price 1384 1414.8 5 No. Of shares 100 100 Amoun t 138400 141485 3085 3 Jan Price Buy Sell 1434 1426.0 5 No. of shares 100 100 Amoun t 143400 142605 -795 25 Jan Price 1290 1288 No. Of shares 100 100 Amoun t 129000 128800 -200 Price 1294.5 1288.2 Over all profit No. of shares 100 100 Amoun t 129450 128820 630 430
th rd th

BSE Amoun t 138460 141445 -2985 100 Amoun t 143565 142765 800 5

Buy Sell

Sell Buy

Price 1384.6 1414.4 5 Over all profit

No. of shares 100 100

Sell Buy

Price 1435.6 5 1427.6 5 Over all profit

No. Of shares 100 100

Buy Sell

Sell Buy

Case-II If client bought on 21dec 100shares @1428.65 then his position: Date 5th jan 13th Jan 24th jan price No. Of shares 1420.68 100 1313.3 100 1277.48 100 position 797(loss) 11535(loss) 1517(loss)

Case-III If client bought 100 shares on 15th Dec when should he exit to book maximum profit? Price Beginning Date: 15th Dec High price rate date:3rd Jan Till last date : 31st Dec 1401.28 1434.25 1207.38 No. Of shares 100 100 100 3297( profit) 19390(loss) position

Case-IV If client sell I n NSE on 3rd Jan to keep stop loss and if client buy BSE keep stop loss

NSE Buy Back 1478.31(limit) 1475 (trigger) Sell 1434.25 Buy Sell

BSE 1493.08

1435.65

Buy back

1377.84

Sell

1395(trigger) 1392(limit)

Both the order do not execute because the high low values of the day are in NSE:1450,1418.5 in BSE : 1450, 1421.3

RCOM
Reliance Communications (NSE: RCOM, BSE: 532712), formerly known as Reliance Infocomm, along with Reliance Telecom and Flag Telecom, is part of Reliance Communications Ventures (RCoVL). It is commonly referred to simply as Reliance (although this name is used to refer to other Reliance Group companies as well) or RCom. Reliance Communications Limited, founded by Dhirubhai H Ambani (19322002), is the flagship company of the Reliance Anil Dhirubhai Ambani Group. The Reliance Anil Dhirubhai Ambani Group currently has a net worth in excess of 64,000 crore (US$13.6 billion), cash flows of 13,000 crore ($2.8 billion), and a net profit of 8,400 crore ($1.8 billion). The Equity Shares of RCOM are listed on Bombay Stock Exchange Limited and National Stock Exchange Limited. The Global Depository Receipts and Foreign Currency Convertible Bonds are listed on Luxembourg Stock Exchange and Singapore Stock Exchange respectively. Industry : Telecommunications Service BSE Code : 532712 NSE Code : RCOM Board of Directors of the company. S.No Name 1 2 3 4 5 Mr. Anil Dhirubhai Ambani Mr. S P Talwar Mr. A K Purwar Mr. Deepak Shourie Prof. J Ramachandran

Designation Chairman / Chair Person Director Director Director Director

Share holding pattern: Above is the share holding pattern of RELIANCE COMMUNICATIONS which shows that Indian promoter has large stake in the company of about 67.72%.General Public also have quite large stake in the company compare to its competitors.
0.58 11.1 9.25 9.12 2.23
Financial institutions Foreign holdings Corporate bodies Directors and employees

67.72

General public Others

BSE:
Open Price 130 129.65 128.5 126.2 127.5 128.75 127.75 142.95 138.6 140 138.95 140.1 147.15 148.55 145.5 140 139.9 138.5 134.05 138.7 138.45 139.7 134 132.65 132 129 132.65 136 134.5 133.2 126.95 124.7 High Price 131.7 130.45 129 128.1 130.2 129.7 144.4 142.95 142.6 140.2 139.7 145.85 149.9 149.4 145.5 142.8 143.85 140.45 140.5 139.7 142.9 142.25 136.6 133.6 133.75 134.4 136.6 136.85 136.95 134.5 127.5 124.7 Low Price 128.2 126.5 126.05 125.2 127.5 128 127.5 136.2 138.15 136.25 136.6 139.8 146.5 143.6 139.7 138.7 137.55 134.15 134.05 132.8 137.65 137.5 130.05 130.25 129.8 127.85 132.65 133.5 132.1 126.05 123.7 121.25 Close Price 129.1 128.9 126.75 127.2 128.15 128.4 141.9 136.85 139.2 138.5 138.2 145.1 147.9 144.2 140.15 139.95 139.1 135 137.8 138.3 138.5 138.4 131.8 132.15 131 133.25 136.1 134.65 132.8 127.65 125.1 122.6 No.of Shares 1330389 725101 542365 1030699 630679 423010 6447536 3166087 3837546 1477137 949122 3184589 1677646 1541727 1406599 1333141 1950663 1162724 1634768 1611283 1528447 1269955 1482997 1151871 874276 858679 903660 411919 608019 790049 846480 699488

Date 15-Dec-11 16-Dec-11 20-Dec-11 21-Dec-11 22-Dec-11 23-Dec-11 24-Dec-11 27-Dec-11 28-Dec-11 29-Dec-11 30-Dec-11 31-Dec-11 03-Jan-12 04-Jan-12 05-Jan-12 06-Jan-12 07-Jan-12 10-Jan-12 11-Jan-12 12-Jan-12 13-Jan-12 14-Jan-12 17-Jan-12 18-Jan-12 19-Jan-12 20-Jan-12 21-Jan-12 24-Jan-12 25-Jan-12 27-Jan-12 28-Jan-12 31-Jan-12

WAP 130.0368005 128.0210122 127.338097 126.9338992 128.7032484 128.672282 138.3398425 138.4370474 140.4188659 138.5499463 137.8743049 143.6368329 148.2736161 145.7960041 142.0487531 140.804374 141.3027509 137.54767 138.0746057 135.9968708 140.4244832 140.2757932 133.3536015 131.9274893 132.0352269 131.0484628 135.5011974 134.6430657 134.8020703 130.5219904 125.4724849 122.8799794

Average 129.95 128.475 127.525 126.65 128.85 128.85 135.95 139.575 140.375 138.225 138.15 142.825 133.7833333 148.2 146.5 142.6 140.75 140.7 137.3 137.275 136.25 140.275 139.875 133.325 131.925 131.775 131.125 134.625 135.175 134.525 130.275 125.6 122.975 136.0525

NSE:
OPEN HIGH LOW CLOSE LAST PREVCLOSE TOTTRDQTY TIMESTAMP AVG 129.1 131.75 128.25 129.35 129.15 128 4708372 15-Dec-11 130 130 130.4 126.3 128.95 128.65 129.35 2682284 16-Dec-11 128.35 127.75 129 125.9 126.85 126.3 128.95 1946358 20-Dec-11 127.45 126.25 128.1 125.15 127.45 127.8 126.85 2990626 21-Dec-11 126.625 128 130.2 127.5 128.2 128.1 127.45 2574659 22-Dec-11 128.85 129.1 129.9 128 128.6 128.75 128.2 1421374 23-Dec-11 128.95 127.1 144.4 127.1 141.95 141.8 128.6 16623668 24-Dec-11 135.75 142.75 142.95 136.25 137 136.95 141.95 10905050 27-Dec-11 139.6 138.4 142.5 138.1 139.4 138.6 137 11806512 28-Dec-11 140.3 139.95 140.75 136.3 138.7 138.6 139.4 4951435 29-Dec-11 138.525 138.8 139.95 136.75 138.45 138 138.7 4604520 30-Dec-11 138.35 140.5 146.3 139.6 145.35 145.5 138.45 10544756 31-Dec-11 142.95 133.808333 147.4 150 146.5 148.25 147.65 145.35 6711603 03-Jan-12 148.25 149 149.25 143.5 144.3 143.55 148.25 5695987 04-Jan-12 146.375 145.5 145.5 139.4 140.05 139.55 144.3 5131429 05-Jan-12 142.45 140.3 142.8 138.55 139.75 139.3 140.05 5517404 06-Jan-12 140.675 139.5 143.95 137.35 139.35 138 139.75 8204201 07-Jan-12 140.65 138.75 140.55 134.55 135.25 134.7 139.35 6173819 10-Jan-12 137.55 134.5 140.75 134.5 137.65 139.8 135.25 6911304 11-Jan-12 137.625 138.5 139.75 132.55 138.65 138.45 137.65 7040427 12-Jan-12 136.15 138 143.2 137.6 138.5 138.75 138.65 7062690 13-Jan-12 140.4 139 142.5 137.35 138.5 137.8 138.5 4354961 14-Jan-12 139.925 133.1 136.75 129.8 131.65 131.9 138.5 5283801 17-Jan-12 133.275 132.9 133.7 130.1 132.1 132.2 131.65 3614257 18-Jan-12 131.9 132 133.7 129.6 130.8 131 132.1 2572383 19-Jan-12 131.65 128.25 134.55 127.8 133.4 134.3 130.8 4457953 20-Jan-12 131.175 133.75 136.95 133 136.4 136.3 133.4 4033184 21-Jan-12 134.975 136 136.5 133.15 134.8 134.6 136.4 1763657 24-Jan-12 134.825 135 136.85 132.5 132.9 132.75 134.8 2072365 25-Jan-12 134.675 133.7 134.5 126 127.7 127 132.9 5128090 27-Jan-12 130.25 127 127.65 123.3 125.15 125.7 127.7 2838088 28-Jan-12 125.475 123.95 124.4 121.05 122.65 122.3 125.15 2287475 31-Jan-12 122.725 136.04875

TRADING STRATAGIES: Case-I: Intraday hedging on 20th dec, 3rd Jan, 25th Jan NSE 20 Dec Buy Sell Price 127.45 126.85 No. Of shares 100 100 Amount 12745 12685 -60 Sell Buy Price 127.53 126.75 Over all profit 3 Ian Buy Sell Price 148.25 148.25 No. Of shares 100 100 Amount 14825 14825 0 Sell Buy Price 148.2 147.9 Over all profit 25 Jan Buy Sell Price 134.68 132.9 No. Of shares 100 100 Amount 13468 13290 -178 Sell Buy Price 134.53 132.8 Over all loss No. Of shares 100 100 Amount 13453 13280 173 -5
th rd th

BSE No. Of shares 100 100 Amount 12753 12675 78 18 Amount 14820 14790 30 30

No. Of shares 100 100

Case-II If client bought on 21dec 100shares @126.63 then his position: Date 5th jan 13th Jan 24th jan price No. Of shares 142.45 100 140.4 100 134.83 100 position 1582(profit) 1377(profit) 820(profit)

Case-III If client bought 100 shares on 15th Dec when should he exit to book maximum profit? Price Beginning Date: 15th Dec High price rate date:3rd Jan Till last date : 31st Dec 130 148.25 134.83 No. Of shares 100 100 100 1825( profit) 820(profit) position

Case-IV If client sell I n NSE on 3rd Jan to keep stop loss and if client buy BSE keep stop loss

NSE Buy Back 154.13(limit) 148 (trigger) Sell 148.25 Buy Sell

BSE 154.13

148.2

Buy back

142.32

Sell

145(trigger) 143.75(limit)

Both the order do not execute because the high low values of the day are in NSE:150, 146.5 in BSE : 149.9, 146.5

HDIL: HDIL (Housing Development & Infrastructure Ltd.) is a listed real estate development company in India, with significant operations in the Mumbai Metropolitan Region. HDIL's business focuses on Real Estate Development, including construction and development of residential projects and, more recently, commercial and retail projects, Slum Rehabilitation and Development, including clearing slum land and rehousing slum dwellers, and Land Development, including development of infrastructure on land which the company then sells to other property developers. HDIL has an integrated in-house development team which covers all opment from project identification and inception through construction to completion and sale. Since incorporation in 1996, HDIL has developed 23 projects covering approximately 19,290,000 square feet (1,792,000 m2) of saleable area, including approximately 12,730,000 square feet (1,183,000 m2) of land sold to other builders after Land Development, primarily in the Mumbai Metropolitan Region. HDIL also have constructed an additional 1,900,000 square feet (177,000 m2) of rehabilitation housing area under slum rehabilitation schemes. HDIL's residential projects generally comprise groups of apartments, towers or larger multi-purpose township projects in which individual housing units are sold to customers. The commercial projects are a mix of office space and multiplex cinemas. The retail projects focus on shopping malls. They usually follow a build and sell model for the properties they develop. HDIL also undertakes slum rehabilitation projects under a Government scheme administered by the Slum Rehabilitation Authority (SRA), whereby developers are granted development rights in exchange for clearing and redeveloping slum lands, including providing replacement housing for the dislocated slum dwellers. The company has also bagged the prestigious Mumbai Airport Slum Rehabilitation Project to rehabilitate the slum dwellers located on 276 acres (1.12 km2) of Mumbai Airport land. Although historically HDIL has focused on real estate development in the Mumbai Metropolitan Region, as part of their growth strategy they are considering projects in other locations, including Kochi and Hyderabad. They also are considering expanding into hotel projects, special economic zone(SEZ) developments and mega-structure complexes, which are large-scale mixed-use retail, commercial and residential developments. HDIL's total land reserves comprise approximately 124,800,000 square feet (11,590,000 m2) of saleable area to be developed through 35 Ongoing or Planned projects. They have 21 Ongoing Projects, which are projects under construction and development, aggregating to approximately 45,500,000 square feet (4,230,000 m2) of saleable area, and they have an additional 14 Planned Projects, which are projects planned for construction and development in the future, aggregating approximately 79,300,000 square feet (7,370,000 m2) of saleable area. HDIL is part of the Wadhawan Group which has been involved in real estate development in the Mumbai Metropolitan Region for almost three decades. As of December 31, 2006, the Wadhawan Group has developed (including our developments) approximately 62,100,000 square feet (5,770,000 m2) of saleable area and, additionally, has constructed approximately 16,300,000 square feet (1,510,000 m2) of rehabilitation housing area under slum rehabilitation schemes. HDIL's promoters are Rakesh

Kumar Wadhawan, Sarang Wadhawan, Kapil Wadhawan, and Dheeraj Wadhawan, who, together with the rest of the Promoter Group, hold 73.2% of the outstanding share capital as of December 31, 2006. Sarang Wadhawan is the Managing Director of HDIL. HDIL's turnover from sales of projects, developed land and land development rights for the financial years ended March 31, 2008, 2007, 2006 were Rs. 23803.7 million, Rs. 12040 million, Rs. 4,348.6 million, respectively, and the restated profit after tax for financial years ended March 31, 2008, 2007 and 2006 were Rs. 14098.4 million, Rs. 5430 million and Rs. 1,172.9 million respectively. HDIL launched an IPO in July 2007 and is currently listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Industry : Construction and Contracting - Real Estate BSE Code : 532873 NSE Code : HDIL
Board of Directors of the company. S.No Name 1 2 3 4 5 6 7 8 9 10 11 Mr. Waryam Singh Mr. Ashok Kumar Gupta Mr. Rakesh Kumar Wadhawan Mr. Raj Kumar Aggarwal Mr. Lalit Mohan Mehta Mr. Sunil Behari Mathur Mr. Satya Pal Talwar Mr. Shyam Sunder Dawra Mr. Surinder Kumar Soni Mr. Ramesh Chander Kapoor Mr. Sarang Wadhawan

Designation Director Director Executive Chairman Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Managing Director

Share holding pattern: Above is the share holding pattern of HDIL which shows that Indian promoter share in the company is 39.02 %. Foreign holdings are also very high in the company of about 37.38%. Institutional investors has very less stake in the company of about 1.1%.
39.02

0.58 8.25

1.1

Financial institutions Foreign holdings Corporate bodies Directors and employees General public

37.38

13.67
Others

BSE:
Open Price 194.5 188 185 188 188.3 189.4 187.8 191.9 190 190.9 186 189 196 195 189.35 189.85 185 185 173 161.95 166.25 167 163 159.1 156.9 153.7 155.2 160 165 162.25 155.45 135.65 High Price 195.5 191.65 191.25 189.75 191.5 192.35 191.5 193.75 190.85 190.9 189.3 194.9 197.7 196.15 191.2 191 185.85 185 173.95 166.4 169.35 170 163 160.25 158.85 157.45 160.8 164.8 166.5 162.45 155.45 138 Low Price 186 184.75 185 186.25 187.5 186.3 185 188.1 188.25 186.05 186 188.7 194 188.65 184.9 182.8 182.4 167.9 158.2 156.55 161.8 160.65 155.5 152.4 154.1 153 155.2 159.55 159.85 153.7 137.5 129 Close Price 187.15 190.85 186.8 186.85 188.35 187.4 190.75 188.7 189.4 186.65 188.45 194.25 194.6 189.35 185.35 184.5 183.65 169.3 160.85 165.45 167.95 162.65 157.1 155.75 155.65 156.25 158.95 164.1 160.9 155.5 139.85 131.5 No.of Shares 835618 956740 690058 652681 833205 758691 612222 649762 354728 507372 466166 800702 543004 753274 733475 1477401 2127999 1351190 2035438 1994113 2344044 1236100 1094166 1098003 1143580 949285 954305 738790 1937041 893423 3034132 3197137

Date 15-Dec-11 16-Dec-11 20-Dec-11 21-Dec-11 22-Dec-11 23-Dec-11 24-Dec-11 27-Dec-11 28-Dec-11 29-Dec-11 30-Dec-11 31-Dec-11 03-Jan-12 04-Jan-12 05-Jan-12 06-Jan-12 07-Jan-12 10-Jan-12 11-Jan-12 12-Jan-12 13-Jan-12 14-Jan-12 17-Jan-12 18-Jan-12 19-Jan-12 20-Jan-12 21-Jan-12 24-Jan-12 25-Jan-12 27-Jan-12 28-Jan-12 31-Jan-12

WAP 190.0521051 189.1155235 188.8649766 188.1180546 189.4280051 189.0045987 189.5163437 191.0037891 189.5531957 188.1391799 187.9605291 193.1804492 195.8690894 191.3726851 187.2981983 185.4771528 183.6860224 175.9556702 165.6376854 162.0316757 166.3444368 166.1968109 159.3582793 155.9182224 156.5423477 155.8851778 159.0035523 162.8779383 163.0526396 158.099412 143.0012557 132.0375089

Average 190.75 188.2 188.125 188 189.5 189.325 188.25 190.925 189.55 188.475 187.65 191.8 189.2125 195.85 192.4 188.05 186.9 184.125 176.45 166.075 161.475 165.575 165.325 159.25 156.325 156.475 155.225 158 162.175 163.175 158.075 146.475 133.5 166.545

NSE:
OPEN HIGH LOW CLOSE LAST PREVCLOSE TOTTRDQTY TIMESTAMP AVG 196 196.85 186.1 187.2 186.4 196.1 4116058 15-Dec-11 191.475 187.5 191.9 185 190.9 190.6 187.2 4000497 16-Dec-11 188.45 189.5 191.2 185.5 186.5 185.65 190.9 3194183 20-Dec-11 188.35 187.5 189.9 186.35 187 186.5 186.5 4375705 21-Dec-11 188.125 188.1 191.4 187.2 188.35 188.2 187 3178822 22-Dec-11 189.3 189 192.3 186.3 187.45 187.8 188.35 3745277 23-Dec-11 189.3 187.45 192 184.4 191.15 191.9 187.45 2771645 24-Dec-11 188.2 192 193.8 188.1 188.75 188.3 191.15 2760205 27-Dec-11 190.95 189.2 190.85 188.15 189.65 190 188.75 1503454 28-Dec-11 189.5 191 191 186.15 186.65 186.5 189.65 2096122 29-Dec-11 188.575 186.9 189.5 186.3 188.55 188.8 186.65 2671986 30-Dec-11 187.9 188.5 195.8 188.5 194.95 194.6 188.55 3680415 31-Dec-11 192.15 189.35625 195.2 197.85 193.65 194.25 193.8 194.95 2233017 03-Jan-12 195.75 196.75 196.75 188.35 189 188.9 194.25 3049074 04-Jan-12 192.55 189 191.1 184.5 185.1 185.45 189 3098555 05-Jan-12 187.8 188.7 190.9 182.7 184 183.95 185.1 6964649 06-Jan-12 186.8 184.95 185.65 181.5 183.7 183.5 184 4581687 07-Jan-12 183.575 184 185.25 168.05 169.6 168.9 183.7 4839412 10-Jan-12 176.65 170 173.95 157.8 160.6 162 169.6 7991751 11-Jan-12 165.875 161 166.7 156.55 165.65 165.7 160.6 10067217 12-Jan-12 161.625 166.5 169.45 161.6 167.9 167.5 165.65 9555412 13-Jan-12 165.525 168.5 170.5 160.5 162.6 161.6 167.9 5268252 14-Jan-12 165.5 163 163 155.65 157.25 157.75 162.6 4900512 17-Jan-12 159.325 158.8 160.3 151.7 155.15 155.8 157.25 5265479 18-Jan-12 156 156 158.7 153.7 155.3 155.7 155.15 5464072 19-Jan-12 156.2 153.5 157.5 152.6 156.25 155.95 155.3 4572437 20-Jan-12 155.05 156.2 160.95 155 159.05 159 156.25 5141580 21-Jan-12 157.975 160 165 159 164.3 164.1 159.05 3014997 24-Jan-12 162 165.5 166.45 159.65 160.55 160 164.3 5422179 25-Jan-12 163.05 161.1 161.9 153.1 155.05 154.6 160.55 4883216 27-Jan-12 157.5 154.45 154.85 137.4 139.7 139.9 155.05 11325185 28-Jan-12 146.125 138 138 128.6 131.15 130.55 139.7 12920659 31-Jan-12 133.3 166.40875

TRADING STRATAGIES: Case-I: Intraday hedging on 20th dec, 3rd Jan, 25th Jan NSE 20 Dec Buy Sell Price 188.35 186.5 No. Of shares 100 100 Amount 18835 18650 -185 Sell Buy Price 188.125 186.8 Over all loss 3 Jan Buy Sell Price 195.75 194.25 No. Of shares 100 100 Amount 19575 19425 -150 Sell Buy Price 195.85 194.6 Over all loss 25 Jan Buy Sell Price 163.05 160.55 No. Of shares 100 100 Amount 16305 16055 -250 Sell Buy Price 163.175 160.9 Over all loss No. Of shares 100 100 Amount 16317.5 16090 227.5 -22.5
th rd th

BSE No. Of shares 100 100 Amount 18812.5 18680 132.5 -52.5 Amount 19585 19460 125 -25

No. Of shares 100 100

Case-II If client bought on 21dec 100shares @126.63 then his position: Date 5th jan 13th Jan 24th jan price No. Of shares 187.48 100 165.53 100 162 100 position 33(loss) 2260(loss) 2613(loss)

Case-III If client bought 100 shares on 15th Dec when should he exit to book maximum profit? Price Beginning Date: 15th Dec High price rate date: 3rd Jan Till last date: 31st Dec 133.3 191.48 195.75 100 No. Of shares 100 100 427(profit) 5818(loss) position

Case-IV If client sell I n NSE on 3rd Jan to keep stop loss and if client buy BSE keep stop loss

NSE Buy Back 201.62(limit) 197 (trigger) Sell 195.75 Buy Sell

BSE 203.58

195.75

Buy back

187.92

Sell

192(trigger) 189.88(limit)

Both the order do not execute because the high low values of the day are in NSE:197.85, 193.65 in BSE : 197.7, 194.6

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