ramasamy project

INTRODUCTION1.1 INTRODUCTION The stock exchange or secondary market is a highly organized

market for the purchase and sale of second hand quoted of listed

securities. The securities contracts (Regulation) Act 1956

defines a stock exchange as “an association, organization or not,

established for the purpose of assisting, regulating and

controlling business in buying, selling and dealing in

securities”.

Of all the modern service institutions, stock exchange plays a

crucial agents and facilitators of entrepreneurial progress.

After the industrial resolution, as the size of the business

enterprises grew, it was no longer possible for individual person

or even partnerships to raise such huge amount for undertaking

these ventures. Such huge requirements of capital can be met only

large number of individuals.

These investors could be expected to participate actively only if

investment is liquid or they could sell a part of their stake

whenever they wish to generate cash. This liquidity can be

achieved through shares and debentures representing smallest

units of ownership and lending represented by the public. The

institution where these securities are traded is known as stock

exchange. This stock exchange is one of the most important

institutions in the capital market.

The Indian Equity Market has mainly two indices i.e. NIFTY and

SENSEX. The equity market of India is one of the oldest in the

Asia region. India had an active stock market for about 150 years

that played a significant role in developing risk markets as also

promoting enterprise and supporting the growth of various

industries. India has been one of the best performers in the

world economy in recent years, but rapidly rising inflation and

the complexities of running the world’s biggest democracy are

proving challenging.

A stock market index is created by selecting a group of stocks

that are representative of the whole market or a specified sector

or segment of the market. An Index is calculated with reference

to a base period and a base index value. An Index is used to give

information about the price movements of products in the

financial, commodities or any other markets. Financial indexes

are constructed to measure price movements of stocks, bonds, T-

bills and other forms of investments. Stock market indexes are

meant to capture the overall behavior of equity markets

Major Indices

These indices are broad-market indices, consisting of the large,

liquid stocks listed on the Exchange. They serve as a benchmark

for measuring the performance of the stocks or portfolios such as

mutual fund investments.

More about Major Indices

S&P CNX Nifty

CNX Nifty Junior

CNX 100

S&P CNX 500

CNX Midcap

Nifty Midcap 50

S&P CNX Defty

S&P CNX Nifty Dividend

India VIX

Sectoral Indices

Sector-based index are designed to provide a single value for the

aggregate performance of a number of companies representing a

group of related industries or within a sector of the economy

More about Sect oral Indices

Thematic Indices

Thematic indices are designed to provide a single value for the

aggregate performance of a number of companies representing a

theme.

Index Concepts

Indices and index-linked investment products provide considerable

benefits. Important concepts and terminologies are associated

with Index construction. These concepts are important for

investors to learn from the information that indices contain

about investment opportunities.

BOMBAY STOCK EXCHANGE

The origin of the Bombay stock exchange date back to 1875. it

was organized under the name of “ the native stock and shares

brokers association” as a voluntary and non-profit making

association. It was recognized on a permanent basis in 1957. this

premier stock exchange is the oldest stock exchange in Asia.

The objectives of the stock exchanges are:

To safeguard the interest of the investing public having

dealings on the exchange.

To establish and promote honorable and just practices in

securities transaction.

To promote, develop, and maintain well regulated market for

dealing in securities.

To promote industrial development in the country through

efficient resource mobilization by

the way of investment in corporate securities.

1.2 OBJECTIVES OF THE STUDY

Primary objective

suggesting as to which company’s shares would be best

for an investor to invest

Secondary objectives

Analyzing historical performance.

Estimating growth prospect of various companies.

To learn about linkages between share values, earnings, and

expected return on capital

1.3 SCOPE OF THE STUDY

The scope is limited to only the fundamental analysis of the

chosen stocks The study also includes return on equity and

relative index of different sector The study also covers the

details as well as concept of equity and nifty index

NEED OF THE STUDY

It is well known that money is the blood of life. This analytical

research is made which tries to shows the factors which are

making stock price movement and to know the factors influence the

market

To see the given changing an economic condition, the market is

efficient to any news and information It involves calculation and

includes the drawings of graphs to track the existing movement.

It helps the investors in making decision whether to buy or sell

the shares.

LIMITATONS OF THE STUDY

The study is focused on Equity Market with NIFTY index.

The study has been conducted on the data which was collected

only in the Indian security market.

Due to time constraints the figure available only for the 1

month.

Since the analysis has been constructed on the basis of data

available, the inherent limitations of financial statement

are the limitations of the analysis.

The data is limited to the constraints of NIFTY INDEX only.

REVIEW OF LITERATURE

The purpose of the chapter is to review the various studies

conducted and made to consolidate the views and studies to

determine the effectiveness of different factors which influence

the equity share.

D. Sarkar studies the share price behavior using the time series

data. He found that the retained earnings had on effect share

price while the influence of divided was very much significant.

Prof. Leopold A. Bernstein (1975) in his article had defended the

function and value of fundamental investment analysis as the

basis of successful investment in equity shares. He had argued

that even though psychological and other factors accounted 50% of

price changes the other 50% of it was only due to fundamental

factors.

Ritter (1988) analyzed the buy/ sell details of NYSE stocks over

a period of 15 years from Dec 17, 1970 to Dec 16, 1985. Ritter

proposed the “parking- the –proceeds” hypothesis i.e., the

individual investors who sell the stocks prior to the late

December for tax loss selling and they buy the shares in early

January, mostly small stocks. He concluded that the ratio of

stock purchases to sales by individual investor displays a

seasonal pattern, with individuals having a below-normal and

buy/sell ratio in late December and above normal ratio in early

January.

Chan and Chen (1991) examined the difference in structural

characteristics that lead firms of different size to react

differently to the same economic news. By using time series

analysis they found that return difference between small and

large firms could be captured by the responses of high leverage

firms and marginal firms to economic views.

INDUSTRY PROFILE

The Trading on stock exchanges in India used to take place

through open Outer without use of information technology for

immediate matching or recording of Trades. This was time

consuming and inefficient. This imposed limits on trading volumes

and efficiency. In order to provide efficiency , liquidity and

transparency, NSE introduced A nationwide online fully automated

screen based trading system where a member can punch into the

computer quantities of securities and the prices at which he

likes to Transect and the transaction is executed as soon as it

finds a matching sale or buy order From a counter party.

This is also considered to be one of the main reasons for so many

people entering stock market appreciating its ease. The other

main reasons are the booming economy, and the size of market

capitalization, the pool of which is enormously Growing.

SECURITIES MARKET IN INDIA, DEALS WITH THE FOUR MAIN LEGISLATIONS

COVERING THE SECURITIES MARKET ARE:

the securities contracts regulation act, 1956, which

provides for regulation of transaction in securities through

control over stock exchanges.

The companies Act, 1956, which sets out the code of conduct

for corporate sector in relation to issue, allotment and

transfer of securities, and disclosures to be made in public

issues.

The SEBI Act, 1992, which establishes SEBI to protect

investors and Develop and regulate securities market.

The depositories Act, 1996, which provides for electronic

maintenance and transfer of ownership of dematerialized

securities. The securities market has two independent and

inseparable segments. The primary market and the secondary

market.

The primary market provides the channel for creation of new

securities through issuance of financial instruments by public

companies as well as governments and government agencies and

bodies whereas the secondary market helps the holders of these

financial instruments to sale for exiting from investment. The

price signals which subsume all information about the issuer and

his business including associated Risk, generated in secondary

market, help the primary market in allocation of fund.

The primary market issuance is done either through public issue

or private Placement. A public issue does not limit any entity in

investing while in private placement, the issuance is done to

select people. In terms of companies act, 1956, an issue becomes

public if it results in allotment to more than 50 persons. This

means an Issue resulting in allotment to less than 50 persons in

private placement. There are two Major types of issues who issue

securities. The corporate entities issue mainly dept and equity

instruments. While the governments issue dept securities.

The secondary market Enables participants who hold securities to

adjust their holdings in response to changes in their assessment

or risk and return. They also sell securities for cash to meet

their liquidity needs. The exchange does not provide facility for

spot trades in a strict sense. Closest to the spot market is the

cash market in exchanges where settlement takes place after

sometime.

The rates taking place over a trading cycle (one day under

rolling settlement) are settled together after a certain time.

The stock exchanges in the country provide facilities for trading

for corporate securities. Trades executed on NSE only are cleared

and settled by clearing corporation, which provides settlement

guarantee. Nearly 100% of the trades in capital market segment

are settled through demat delivery.

NSE also provides trading in derivatives of equities, interest

rate as well indices. In derivatives market, standardizes

contracts are traded for future settlement. These futures can be

on a basket of securities like an index or an individual

Security. In case of options, securities are traded for

conditional future delivery.

Today the market participants have the flexibility of choosing

from a basket of products like: Equities, Bonds issued by both

government and companies, Futures on benchmark indices as well as

stocks, Options on benchmark indices as well as stocks.

NATIONAL STOCK EXCHANGE

The logo of the NSE symbolizes a single nationwide securities

trading facility ensuring equal and fair access to investors,

trading members and issuers all over the country. The initials of

the Exchange viz., N, S and E have been etched on the logo and

are distinctly visible. The logo symbolizes use of state of the

art information technology and satellite connectivity to bring

about the change within the securities industry. The logo

symbolizes vibrancy and unleashing of creative energy to

constantly bring about change through innovation

The National Stock Exchange (NSE) is India's leading stock

exchange covering various cities and towns across the country.

NSE was set up by leading institutions to provide a modern, fully

automated screen-based trading system with national reach. The

Exchange has brought about unparalleled transparency, speed &

efficiency, safety and market integrity. It has set up facilities

that serve as a model for the securities industry in terms of

systems, practices and procedures.

NSE has played a catalytic role in reforming the Indian

securities market in terms of microstructure, market practices

and trading volumes. The market today uses state-of-art

information technology to provide an efficient and transparent

trading, clearing and settlement mechanism, and has witnessed

several innovations in products & services viz. demutualization

of stock exchange governance, screen based trading, compression

of settlement cycles, dematerialization and electronic transfer

of securities, securities lending and borrowing,

professionalization of trading members, fine-tuned risk

management systems, emergence of clearing corporations to assume

counterparty risks, market of debt and derivative instruments and

intensive use of information technology

Purpose

Committed to improve the financial well-being of people.

Vision

To continue to be a leader, establish global presence; facilitate

the financial well being of people.

Values

NSE is committed to the following core values:

Integrity

Customer focused culture

Trust, respect and care for the individual

Passion for excellence

Teamwork

SOME OF THE STOCK BROKING COMPANIES IN INDIA:-

ICICI Direct

Share Khan limited

Bonanza portfolio limited

India bulls

5Paisa

HDFC Securities

Reliance Money

Religare

Net worth Stock Broking Limited (NSBL)

UTI Securities Ltd (UTISEL)

Karvi stock broking ltd

Venture stock broking ltd

COMPANY

PROFILE

BONANZA PORTFOLIO LIMITED

A financial powerhouse! That’s what Bonanza is for you!

Established in the year 1994, Bonanza developed into one of the

largest financial services and broking house in India within a

short span of time. Today, Bonanza is the fastest growing

financial service with 5mega group companies under it. With

diligent effort, acknowledged industry leadership and experience,

Bonanza has spread its trustworthy expertise all over the country

with pan-India presence across more than 1632 outlets spread

across 521 cities.

With a smorgasbord of services across all verticals in finance,

Bonanzas offers you the perfect blend of financial services right

from Equity Broking, Advisory Services that cover Portfolio

Management Services, Mutual Fund Investments, and Insurance to

exceptional Depository Services.

Bonanza believes in being technologically advanced so that we can

offer you – our tech-savvy customers - an integrated and

innovative platform to trade online as well as offline. Besides,

we also have one of the finest and most dedicated research teams

with experts who have in-depth, unsurpassed knowledge of the

market place. All this and more makes Bonanza the perfect place

for you to take your first step in the direction of financial

success.

Bonanza is affiliated with the best in the industry – right from

the NSE, BSE MCX, MCX-SX to CDSL, NSDL, ICEX and USE etc. These

affiliations prove our worth in the market and make Bonanza a

name to reckon with.

With various titles and achievements under our belt, Bonanza

looks forward to tougher challenges and newer milestones to

conquer, so that you – our customer can get nothing less than the

BEST!

Bonanza Corporate Solutions Pvt Ltd (BCSPL)

Is a corporate consultancy firm mainly engages in the

business of providing corporate, financial and strategic

advisory services to Indian and foreign corporate entities.

Bonanza Corporate Solutions Pvt Ltd (BCSPL) is part of

Bonanza Group One of India’s leading Financial Services

Organizations

Bonanza Group is one of India’s leading financial services

organizations mainly into the business of equity derivative

broking, commodity broking, currency broking, portfolio

management services, depository services, mutual fund &

insurance distribution.

Key highlights of Bonanza Group

Started operations in 1994

Flagship Company: Bonanza Portfolio Ltd

Affiliations - NSE, BSE, NSEIL, NSCCL, MCX, NCDEX, MCX-SX,

NMCE, CDSL, NSDL

4th largest broking house in terms of number of offices as

per D&B survey 2010

3,00,000 Clients including FIs, Corporate Bodies, MFs ,HNIs

& Retail Investors

Has over 1550 outlets in more than 550 cities in India (as

of December 2010)

Young dynamic team of 2600 professionals

Strong infrastructure supporting over 3000 trading terminals

Ranked amongst Top 3 National Level Financial Advisors for 3

years in a row

(08, 09, 10) by CNBC TV18 and UTI MF

Top Equity Broking House in terms of branch expansion for

2008

3rd in terms of Number of Trading Accounts for 2008

6th in terms of Trading terminals in for two consecutive

years 2007- 2008,

9th in terms of sub-brokers for 2007

Awarded by BSE Major Volume Driver 04-05,06-07,07-08

BCSPL SERVICES

Bonanza Corporate Solutions Pvt. Ltd.(BCSPL) is in the business

of providing consultancy services for Indian and Foreign

Corporate. The gamut of services is mainly divided in the three

verticals.

VISION

To be one of the most trusted and globally reputed financial

distribution companies.

VALUE

Customer-centric approach

Bonanza Corporate Solutionscorporate fund raising

At Bonanza, customers come first. And their satisfaction is not

just our top priority but also the driving force for us, every

single day.

Transparency

Honesty is our forte. We believe in dealing on thoroughly ethical

grounds, being fair and transparent with our customers

Meritocracy

We recognize and appreciate efforts put in by our employees. And

we, as a matter of fact, reward and distinguish each one of them,

ceaselessly

Solidarity

We believe in sharing a forthright and respectful relationship

with our business partners and employees. We consider them both

as our team associates, who work together. Succeed together

MANAGEMENT DIRECTORS

S P Goal ,

Shiv Kumar,

Goal Surendra ,

K Goal

A P Goal ,

V K Aggarwa ,

COO Saurabh,

CORPORATE SOCIAL RESPONSIBILITY

Other than being the masters of financial services, Bonanza also

believes in the power of giving. We are a company who is socially

responsible towards the community and contributes to the well-

being of others through various welfare initiatives and

charities. Because like they say “No act of kindness, no matter

how small, is ever wasted”

BONANZA GROUP ENTITIES

Bonanza Group includes:

Bonanza Portfolio Ltd

Bonanza Commodity Brokers Pvt Ltd

Bonanza Insurance Brokers Pvt Ltd

Bonanza Global DMCC, Dubai

BONANZA’S MILESTONES

5th largest in terms of no. of offices for the year 2010-

2011.

Top Equity Broking House in terms of branch expansion for

2008.

4th in terms of trading terminals for the year 2010 - 2011.

6th in terms of Sub Brokers for the year 2010-2011.

Nominated among the Top 3 for the "Best Financial Advisor

Awards 08" in the category of National Distributors – Retail

instituted by CNBC-TV18 and OptiMix.

Awarded by BSE Major Volume Driver 04-05,06-07,07-08 .

Ranked 2nd by UTI MF & CNBC TV 18 Financial Awards 2009 in

the category Best Financial Advisor- Retail.

Top 4 in Commodity Segment in Bloomberg UTV

India's No. 1 Valuable Financial Advisory & Stock Broking

Company - as per Business Leadership Award 2012 organized by

the India Leadership Conclave and Indian Affairs Magaz

4. RESEARCH METHODOLOGY

4.1 INTRODUCTION

Research methodology is a way to systematically solve the

research problems. It includes the overall research design, the

sampling procedure, and Data collection method and analysis

procedure.

4.2 Research Design

Analytical Research:

This study is based on factual and statistical analysis of data

based on sensex. The data was collected from internet references

and research papers published on various financial journals

published across the world. An in-depth study of all the

collected data was made and this project is the result of the

effort.

A few references are:

The research design adopted for this study is analytical. This

study involves an in-depth study and evaluation of available

information in an attempt to explain complex phenomenon.

Methodology of the Study:

The research tools employed for the data gathering where

mainly secondary data which was used for the study.

Period of Study: -

The statements are extracted from weekly reports, websites

and books. Research reports and statistical records are under the

core of finance department. The Period of study is being limited

to 45 days.

Data Collection

Company's Catalogue sensex index is the main source of

secondary data. Research and analysis have been taken from

analyzed weekly reports available published records like

newspapers, magazines and websites of the organization.

4.3 DATA SOURCE

Secondary data

The source taken for study is,

Secondary Data

Secondary data are also collected through the NSE India

sites and websites of various companies

Review of the articles being published on the topic in

various magazines

The information in the NSE India has helped to analyze

the company shares.

4.4 Statistical Analysis

The data are analyzed through statistical method. There are

various statistical tools to analysis the data.

Standard Deviation

Correlation

Standard Deviation:

The standard deviation is kind of the "mean of the mean," and

often can help you find the story behind the data. To understand

this concept, it can help to learn about what statisticians call

normal distribution of data.

Formula:

S = N X∑ 2

N

Correlation:

Correlation analysis is done to find out the relationship between

two given parameters. If the value so obtained is positive,

Correlation analysis helps to determine the strength of the

linear relationship between the two variables X and Y, in other

words, as to how strongly are these two variables correlated.

Karl Pearson, in 1896, developed an Index or Coefficient of this

association in cases where the relationship is a linear one, i.e.

where the trend of the relationship can be described by a

straight line. it is called positive correlation and if the value

so obtained is negative, it is called negative correlation.

Formula:

N XY-( X) ( Y)∑ ∑ ∑

√N X∑ 2 – ( X)∑ 2 √N Y∑ 2 – ( Y)∑ 2

5 DATA ANALYSES AND INTERPRETATION

Table No 5.1:

Indices: NIFTY

Periods: (June -2012 to July-2011)

Company Name: INDIAN OIL LTD

DATE OPEN HIGH LOW CLOSE

Jun-12 255.6 268.7 239.6 255.75May-12 265 289.9 235.35 255.6Apr-12 261.9 268.7 248.2 265.55Mar-12 285 288.75 252 262.7Feb-12 289 291.65 268 283.8Jan-12 256 291.55 247.55 288.8Dec-11 263 278 248.5 253.75Nov-11 291.9 308 254.7 261.95Oct-11 313 323.8 286.95 291Sep-11 307.85 326.95 305.15 311.45Aug-11 316.55 344.85 302.9 306.1Jul-11 338.05 344 313.55 315.05

Chart no: 5.1chart showing NIFTY INDEX year of June -2012 to 31-

July-2011

Jun-12

May-12

Apr-12

Mar-12

Feb-12

Jan-12

Dec-11

Nov-11

Oct-11

Sep-11

Aug-11

Jul-11

0

50

100

150

200

250

300

350

400

INDIAN OIL

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MONTH

INDEX

Table No 5.2

Indices: NIFTY


Company Name: INDIAN OIL LTD


Jun-11 326.5 358 312.5 336.85May-11 341.35 359.7 297.5 328.3Apr-11 330 344 320.6 339.85Mar-11 301 342 295 332.85Feb-11 336 337.5 290.1 298.95Jan-11 344 355.45 301.25 336.95Dec-10 349 407.2 335.15 342.4Nov-10 420 427.9 326.5 346.65Oct-10 419.9 435 399.15 418.05Sep-10 414.5 456.9 409.05 416.8Aug-10 362.3 416.7 356.05 411.15Jul-10 403 409 352.3 362

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

0

100

200

300

400

500INDIAN OIL

OpenHighLowClose

MONTH

INDE

X

Table No 5.3

Indices: NIFTY


Company Name: HINDUSTAN OIL LTD


Jun-12 100.95 136.9 95.15 131.5

May-12 122.55 126.25 97.2 101.6

Apr-12 112.5 136.65 112.05 121.9

Mar-12 137.85 138.65 105.05 112.05

Feb-12 117.85 151.4 115.05 137.5

Jan-12 90 123.5 87.2 117.3

Dec-11 122.4 134.2 86.35 89.7

Nov-11 117.05 140 102 119.1

Oct-11 106.9 122.8 99.1 119.8

Sep-11 123.2 135.5 102.6 107.95

Aug-11 172.8 174 110.5 122.6

Jul-11 179.9 187.6 168.55 170.2

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

0

50

100

150

200HINDUSTAN OIL

OpenHighLowClose

MONTH

INDE

X

Table No 5.4

Indices: NIFTY


Company Name: HINDUSTAN OIL LTD


Jun-11 193.5 210 162.65 178.45May-11 211.2 220 169.75 192.1Apr-11 201.7 237.6 200.85 210.3Mar-11 160.25 209.7 157.6 200.75Feb-11 185.6 194.3 155.5 158.45Jan-11 238 251.4 179.2 183.85Dec-10 212.5 244.9 175.9 236.4Nov-10 255.95 293.45 193.3 214.8

Oct-10 237.75 273.9 230.25 254.05Sep-10 232 254.7 219.9 235.6Aug-10 221.2 264.9 211.3 230.95Jul-10 219.8 246.7 217.85 218.75

Jun-11

May-11

Apr-11

Mar-11

Feb-11

Jan-11

Dec-10

Nov-10

Oct-10

Sep-10

Aug-10

Jul-10

0

50

100

150

200

250

300

350

HINDUSTAN OIL

OpenHighLowClose

MONTH

INDEX

Table No 5.5

Indices: NIFTY


Company Name: BHARAT PETROLIUM OIL LTD

DATE OPEN HIGH LOW CLOSEJun-12 348.5 387.5 342.15 371.98May-12 334.55 385 323.05 348.83Apr-12 347 354.4 322.63 335.33Mar-12 331.5 351.95 311.25 350.13Feb-12 285 342.53 278.38 331.13Jan-12 242.45 294.93 229.03 286.08Dec-11 271.45 283.2 234.38 238.9Nov-11 310 321 243.3 268.98Oct-11 323.98 347 308.08 311.3Sep-11 338 344.73 316.05 323.9Aug-11 330.55 357.23 325.73 337.3Jul-11 325.48 398.45 318.5 328.93

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

0100200300400500

BHARAT PETROLIUM

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MONTH

INDE

X

Table No 5.6

Indices: NIFTY


Company Name: BHARAT PETROLIUM LTD


Jun-11 314.05 343.35 299.1 325.13

May-11 315 340.3 297.5 316.5

Apr-11 300.75 318.95 292.5 314.78

Mar-11 279 311.85 269.05 305.93

Feb-11 302.43 322.2 264.68 276.73

Jan-11 331 334.95 282.58 306.5

Dec-10 339.73 360.95 325.33 329.2

Nov-10 369.5 392.5 324.58 337.53

Oct-10 374.9 388.1 344.33 365.03

Sep-10 383.5 409 370 374.78

Aug-10 321.08 420 318.73 380.63

Jul-10 331.5 359.45 310.7 320.78

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

0100200300400500

BHARATH PETROLIUM

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MONTH

INDE

X

Table No 5.7

Indices: NIFTY


Company Name: BIOCON LTD


Jun-12 310.7 317.9 300 316.55

May-12 312.25 331.3 303.8 309.9

Apr-12 305 324.95 302.2 312

Mar-12 318.9 320 286.3 305.1

Feb-12 350.25 359.95 311.3 316.95

Jan-12 320.9 352.8 316.5 350.25

Dec-11 332.25 340 315 319.9

Nov-11 292.35 329.5 284 328.05

Oct-11 280.05 300 276.15 295.4

Sep-11 289.1 299.6 272.85 281.35

Aug-11 310 315.45 274.2 280.7

Jul-11 330.7 337.95 305 306.6

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

0100200300400500

BIOCON

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MONTH

INDE

X

Table No 5.8

Indices: NIFTY


Company Name: BIOCON LTD


Jun-11 354.25 377.85 330 354.8

May-11 371 371 318.1 353.65

Apr-11 346.95 390 345.3 368.55

Mar-11 314 348.35 308 345.05

Feb-11 352.95 352.95 301.4 311.25

Jan-11 425.95 430.5 335.7 349.5

Dec-10 393 425.25 375 420.85

Nov-10 415.45 438 360.3 390.45

Oct-10 360.5 472.55 360.5 411.7

Sep-10 340.5 370.85 338.3 359.3

Aug-10 311 356.5 310 339.9

Jul-10 324.9 335.7 308 309.5

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

0100200300400500

BIOCON

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MONTH

INDE

X

Table No 5.9

Indices: NIFTY


Company Name: CIPLA LTD


Jun-12 310.7 317.9 300 316.55

May-12 312.25 331.3 303.8 309.9

Apr-12 305 324.95 302.2 312

Mar-12 318.9 320 286.3 305.1

Feb-12 350.25 359.95 311.3 316.95

Jan-12 320.9 352.8 316.5 350.25

Dec-11 332.25 340 315 319.9

Nov-11 292.35 329.5 284 328.05

Oct-11 280.05 300 276.15 295.4

Sep-11 289.1 299.6 272.85 281.35

Aug-11 310 315.45 274.2 280.7

Jul-11 330.7 337.95 305 306.6

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

0

100

200

300

400CIPLA

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MONTH

INDE

X

Table No 5.10

Indices: NIFTY


Company Name: CIPLA LTD


Jun-11 326.05 341.8 310.1 331.05

May-11 312.5 334.9 295.5 326.05

Apr-11 322.9 326.45 304.65 309.5

Mar-11 300 332.75 286.05 321.65

Feb-11 332.5 334.6 295.65 299.65

Jan-11 370.9 381 324.75 332.15

Dec-10 344.5 379.8 337 369.8

Nov-10 355 362.8 325.5 343.3

Oct-10 323.9 359.8 322.35 352.95

Sep-10 304 324.95 303.25 322.35

Aug-10 327 328.45 300 303.25

Jul-10 338 342.9 323.35 326.3

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

0100200300400500

CIPLA

OpenHighLowClose

MONTH

INDE

X

Table No 5.11

Indices: NIFTY


Company Name: GLAXOSMITH KILNE LTD


Jun-12 2000 2089.8 1950 2019.3

May-12 2126 2182 1950 2010

Apr-12 2302 2333 2117.05 2144.05

Mar-12 2070.05 2360 2047.5 2316.55

Feb-12 1949.8 2147 1926 2074.85

Jan-12 1959.55 2014.4 1920 1940.05

Dec-11 1930 2004.15 1811.1 1945.15

Nov-11 2054.1 2148 1862 1917.1

Oct-11 2070.25 2199.9 2025 2057.6

Sep-11 2120 2154.85 1965.05 2091

Aug-11 2344.9 2344.9 2092.25 2119.6

Jul-11 2325 2415 2256.5 2344.9

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

050010001500200025003000

GLAXOSMITHKLINE

OpenHighLowClose

MONTH

INDE

X

Table No 5.12

Indices: NIFTY


Company Name: GLAXOSMITH KILNE LTD


Jun-11 2339.7 2478 2241.2 2350.15

May-11 2240 2388.8 2200 2321.5

Apr-11 2050 2263 2025.15 2257.65

Mar-11 2205 2224 1971 2062.95

Feb-11 2310 2310 2150 2208.55

Jan-11 2344.4 2434.95 2180 2284.65

Dec-10 2125 2364.5 2024.05 2337.5

Nov-10 2212 2334.9 1890 2130.6

Oct-10 2220 2399.9 2210 2222.45

Sep-10 1860.7 2290 1860.7 2209.95

Aug-10 2037.5 2078 1842.4 1860.7

Jul-10 2200 2219.85 1998 2010.8

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

050010001500200025003000

GLAXOSMITHKLINE

OpenHighLowClose

MONTH

INDE

X

STANDARD DEVIATION

Table no 5.13:- Standard deviation of index for the month of Jul-

2011 to June 2012

(INDIAN OIL)

Date Close (X) X-X' (X-X')^2Jun-12 255.75 0.15 0.0225

May-12 255.6 -23.69 561.2161

Apr-12 265.55 -13.74 188.7876

Mar-12 262.7 -16.59 275.2281

Feb-12 283.8 4.51 20.3401

Jan-12 288.8 9.51 90.4401

Dec-11 253.75 -25.54 652.2916

Nov-11 261.95 -17.34 300.6756

Oct-11 291 11.71 137.1241

Sep-11 311.45 32.16 1034.266

Aug-11 306.1 26.81 718.7761

Jul-11 315.05 35.76 1278.778

Total 5257.945

Variance = 5257.945/12

= 438.16

S.D = 20.93

Table no 5.14:- Standard deviation of index for the month of Jul-2010 to June 2011

(INDIAN OIL)

Date Close (X) X-X' (X-X')^2Jun-11 325.13 -4.33 18.7489

May-11 316.5 -12.96 167.9616

Apr-11 314.78 -14.68 215.5024

Mar-11 305.93 -23.53 553.6609

Feb-11 276.73 -52.73 2780.453

Jan-11 306.5 -22.96 527.1616

Dec-10 329.2 -0.26 0.0676

Nov-10 337.53 8.07 65.1249

Oct-10 365.03 35.57 1265.225

Sep-10 374.78 45.32 2053.902

Aug-10 380.63 51.17 2618.369

Jul-10 320.78 -8.68 75.3424

Total 3953.52 10341.52

Variance = 10341.52/12

= 861.79

S.D = 29.35


(HINDUSTAN PETROLEUM LTD)

Variance = 4431.652/12

= 369.30

S.D = 19.21


May-12 101.6 -19.33 373.6489

Apr-12 121.9 0.97 0.9409

Mar-12 112.05 -8.88 78.8544

Feb-12 137.5 16.57 274.5649

Jan-12 117.3 -3.63 13.1769

Dec-11 89.7 -31.23 975.3129

Nov-11 119.1 -1.83 3.3489

Oct-11 119.8 -1.13 1.2769

Sep-11 107.95 -12.98 168.4804

Aug-11 122.6 1.67 2.7889

Jul-11 170.2 49.27 2427.533

Total 4431.652


(HINDUSTAN PETROLEUM LTD)


May-11 192.1 -17.43 303.8049

Apr-11 210.3 0.77 0.5929

Mar-11 200.75 -8.78 77.0884

Feb-11 158.45 -51.08 2609.166

Jan-11 183.85 -25.68 659.4624

Dec-10 236.4 26.87 721.9969

Nov-10 214.8 5.27 27.7729

Oct-10 254.05 44.52 1982.03

Sep-10 235.6 26.07 679.6449

Aug-10 230.95 21.42 458.8164

Jul-10 218.75 9.22 85.0084

Total 8571.351

Variance = 8571.351/12

= 714.27

S.D = 26.72


(BHARAT PETROLEUM LTD


May-12 348.83 29.44 866.7136

Apr-12 335.33 15.94 254.0836

Mar-12 350.13 30.74 944.9476

Feb-12 331.13 11.74 137.8276

Jan-12 286.08 -33.31 1109.556

Dec-11 238.9 -80.49 6478.64

Nov-11 268.98 -50.41 2541.168

Oct-11 311.3 -8.09 65.4481

Sep-11 323.9 4.51 20.3401

Aug-11 337.3 17.91 320.7681

Jul-11 328.93 9.54 91.0116

Total 15596.21

Variance = 15596.21/12

= 1299.68

S.D = 36.05


(BHARAT PETROLEUM LTD


May-11 328.3 -27.6 761.76

Apr-11 339.85 -16.05 257.6025

Mar-11 332.85 -23.05 531.3025

Feb-11 298.95 -56.95 3243.303

Jan-11 336.95 -18.95 359.1025

Dec-10 342.4 -13.5 182.25

Nov-10 346.65 -9.25 85.5625

Oct-10 418.05 62.15 3862.623

Sep-10 416.8 60.9 3708.81

Aug-10 411.15 55.25 3052.563

Jul-10 362 6.1 37.21

TOTAL 16444.99

Variance = 16444.99/12

= 1370.41

S.D = 37.01


(BIOCAN)


May-12 220.55 -67.1 4502.41

Apr-12 238.35 -49.3 2430.49

Mar-12 239 -48.65 2366.823

Feb-12 275.5 -12.15 147.6225

Jan-12 265 -22.65 513.0225

Dec-11 273.85 -13.8 190.44

Nov-11 318.65 31 961

Oct-11 351.1 63.45 4025.903

Sep-11 337.55 49.9 2490.01

Aug-11 330.95 43.3 1874.89

Jul-11 363.65 76 5776

Total 3451.85 0.05 27773.61

Variance = 27773.61/12

= 2314.46

S.D = 48.10


(BIOCAN)


May-11 353.65 -5.89 34.6921

Apr-11 368.55 9.01 81.1801

Mar-11 345.05 -14.49 209.9601

Feb-11 311.25 -48.29 2331.924

Jan-11 349.5 -10.04 100.8016

Dec-10 420.85 61.31 3758.916

Nov-10 390.45 30.91 955.4281

Oct-10 411.7 52.16 2720.666

Sep-10 359.3 -0.24 0.0576

Aug-10 339.9 -19.64 385.7296

Jul-10 309.5 -50.04 2504.002

Total 13105.82

Variance = 13105.82/12

= 1091.98

S.D = 33.04


(CIPLA)


May-12 309.9 -0.32 0.1024

Apr-12 312 1.78 3.1684

Mar-12 305.1 -5.12 26.2144

Feb-12 316.95 6.73 45.2929

Jan-12 350.25 40.03 1602.401

Dec-11 319.9 9.68 93.7024

Nov-11 328.05 17.83 317.9089

Oct-11 295.4 -14.82 219.6324

Sep-11 281.35 -28.87 833.4769

Aug-11 280.7 -29.52 871.4304

Jul-11 306.6 -3.62 13.1044

Total 3722.75 0.11 4066.503

Variance = 4066.503/12

= 338.87

S.D =18.40


(CIPLA)


May-11 326.05 -2.11 4.4521

Apr-11 309.5 -18.66 348.1956

Mar-11 321.65 -6.51 42.3801

Feb-11 299.65 -28.51 812.8201

Jan-11 332.15 3.99 15.9201

Dec-10 369.8 41.64 1733.89

Nov-10 343.3 15.14 229.2196

Oct-10 352.95 24.79 614.5441

Sep-10 322.35 -5.81 33.7561

Aug-10 303.25 -24.91 620.5081

Jul-10 326.3 -1.86 3.4596

Total 4467.497

Variance = 4467.497/12

= 372.29

S.D = 19.29


(GLAXOSMATHKLINE)


May-12 2010 -71.67 5136.589

Apr-12 2144.05 62.38 3891.264

Mar-12 2316.55 234.88 55168.61

Feb-12 2074.85 -6.82 46.5124

Jan-12 1940.05 -141.62 20056.22

Dec-11 1945.15 -136.52 18637.71

Nov-11 1917.1 -164.57 27083.28

Oct-11 2057.6 -24.07 579.3649

Sep-11 2091 9.33 87.0489

Aug-11 2119.6 37.93 1438.685

Jul-11 234.9 263.23 69290.03

Total 205305.3

Variance = 205305.3/12

= 17108.77

S.D = 130.80


(GlaxoSmithKline)


May-11 2321.5 133.38 17790.22

Apr-11 2257.65 69.53 4834.421

Mar-11 2062.95 -125.17 15667.53

Feb-11 2208.55 20.43 417.3849

Jan-11 2284.65 96.53 9318.041

Dec-10 2337.5 149.38 22314.38

Nov-10 2130.6 -57.52 3308.55

Oct-10 2222.45 34.33 1178.549

Sep-10 2209.95 21.83 476.5489

Aug-10 1860.7 -327.42 107203.9

Jul-10 2010.8 -177.32 31442.38

Total 26257.45 0.01 240205.6

Variance = 240205.6/12

= 20017.13

S.D = 141.48

CORRELATION

Table No 5.25 Correlation between INDIAN OIL and BIOCON Company for the year of 2011-2012:

Date INDIAN

OIL

(X)

BIOCON

(Y) XY X2 Y2

Jun-12 255.75 237.7 65408.06 56501.29 60791.78

May-12 255.6 220.55 65331.36 48642.3 56372.58

Apr-12 265.55 238.35 70516.8 56810.72 63293.84

Mar-12 262.7 239 69011.29 57121 62785.3

Feb-12 283.8 275.5 80542.44 75900.25 78186.9

Jan-12 288.8 265 83405.44 70225 76532

Dec-11 253.75 273.85 64389.06 74993.82 69489.44

Nov-11 261.95 318.65 68617.8 101537.8 83470.37

Oct-11 291 351.1 84681 123271.2 102170.1

Sep-11 311.45 337.55 97001.1 113940 105129.9

Aug-11 306.1 330.95 93697.21 109527.9 101303.8

Jul-11 315.05 363.65 99256.5 132241.3 114567.9

total 3351.5 3451.85 941858.1 1020713 974094

Calculation:-

= [12(974094)-(3351) (3451)]/√12(941858)-( 3351)2*√12 (1020713)-( 3451)2

= 0.793

Inference:

The correlation coefficient obtained is 0.793 which is

positive and hence there is a correlation between the OIL and

PHARMA index flows.

Table No 5.26 Correlation between HINDUSTAN OIL and CIPLA companyfor the year of 2011-2012:-

Date HINDUSTAN

OIL

(X)

CIPLA

(Y) XY X2 Y2

Jun-12 131.5 316.55 17292.25 100203.9 41626.33May-12 101.6 309.9 10322.56 96038.01 31485.84Apr-12 121.9 312 14859.61 97344 38032.8Mar-12 112.05 305.1 12555.2 93086.01 34186.46Feb-12 137.5 316.95 18906.25 100457.3 43580.63Jan-12 117.3 350.25 13759.29 122675.1 41084.33Dec-11 89.7 319.9 8046.09 102336 28695.03Nov-11 119.1 328.05 14184.81 107616.8 39070.76

Oct-11 119.8 295.4 14352.04 87261.16 35388.92Sep-11 107.95 281.35 11653.2 79157.82 30371.73Aug-11 122.6 280.7 15030.76 78792.49 34413.82Jul-11 170.2 306.6 28968.04 94003.56 52183.32total 1451 3722 179930 1158972 450119

Calculation:-

= [12(450119)-(1451) (3722)]/√12(179930)-( 1451)2*√12 (1158972)-( 3722)2

= 0.0149

Inference:


positive and hence there is a correlation between the HINDUSTAN

OIL and CIPLA index flows.

Table No 5.27 Correlation between BHARAT OIL and GLAXOSMITHKILNE company for the year of 2011-2012:-

Date BHARAT OIL (X)

GLAXOSMITHKLINE(Y) XY X2 Y2

Jun-12 371.98 2019.3 138369.1 4077572 751139.2May-12 348.83 2010 121682.4 4040100 701148.3Apr-12 335.33 2144.05 112446.2 4596950 718964.3

Mar-12 350.13 2316.55 122591 5366404 811093.7Feb-12 331.13 2074.85 109647.1 4305003 687045.1Jan-12 286.08 1940.05 81841.77 3763794 555009.5Dec-11 238.9 1945.15 57073.21 3783609 464696.3Nov-11 268.98 1917.1 72350.24 3675272 515661.6Oct-11 311.3 2057.6 96907.69 4233718 640530.9Sep-11 323.9 2091 104911.2 4372281 677274.9Aug-11 337.3 2119.6 113771.3 4492704 714941.1Jul-11 328.93 2344.9 108194.9 5498556 771308total 3832.79 24980.15 1239786 52205963 8008813

Calculation:-

= [12(8008813)-(3832) (24980)]/√12(1239786)-( 3832)2*√12 (52205963)-( 24980)2

= 0.553

Inference:


positive and hence there is a correlation between the BHARAT OIL

and GLAXOSMITHKILNE index flow.

ramasamy project

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