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A N A N D R A T H I

M - 2 , E m p i r e S t a t e

b u i l d i n g ,

R i n g R o a d ,

U d h a n a D a r w a j a ,

S u r a t - 2 .

O 2 6 1 - 2 3 2 7 0 0 1 - 0 3

Kirtal A. Modi

Submitted to: Ms. Tanu Narang.

STUDY OF TOP FIVECOMPANIES IN FUTUREMARKET AS PER MARKET

CAPITALIZATION

Academic year: 2008-09

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STUDY OF TOP FIVE COMPANIES IN FUTURE MARKET AS PER MARKET CAPITALISATION

DECLARATION

I, undersigned Mr.Kirtal Modi, student of BHAGWAN MAHAVIR COLLEGE OFMANAGEMENT, Surat, affiliated to Veer Narmad South Gujarat University, Surat

declare that report on Study of top five companies in future market as permarket

capitalization is my own work. The research was carried out by me as a part of

summer training in the company for being evaluated for the MBA degree.

I further declare that no part of this report has been copied, borrowed as it is from any

source of material. If this has been found later on, I will be solely responsible for it and

its consequences.

Place:

Date:

(Kirtal Modi)

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ACKNOWLEDGEMENT

I, the student of management, feel proud on successfully completing the project on

Study of top five companies in future market as per market capitalization at

ANAND RATHI SECURITIES LTD ofSurat.

A project of this nature involves the support of many people. I would like to give my

special thanks and regards to MR. HARISH PILLAI (ASST. VICE PRESIDENT). I

believe that I would be lacking in my duty if I did not express my sincere gratitude to

them.

I would especially like to thank Mr. Janak Modi, Relationship Manager of the company

as well as my company mentor, who has provides me the valuable guidance and

support during my training.

I am extremely thankful to Dr. A.S.ABANI, Director, and Mrs. Tanu Narang, my

project mentor for providing good guidance and other facilities during my training

program.

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INDEX

EXECUTIVE SUMMARY ................................................................................................................................................... 9

Chapter 1: INDUSTRY PROFILE ..................................................................................................................................... 11

1.1 Introduction of capital market ........................................................................................................................... 11

1.2 The Origin of Stock Markets .............................................................................................................................. 12

1.3 Bull Market And Bear Market ............................................................................................................................ 13

Chapter 2: COMPANY PROFILE : ANAND RATHI SECURITIES LTD. ............................................................................... 16

2.1 Introduction of Anand Rathi .............................................................................................................................. 16

2.2 Vision ................................................................................................................................................................. 16

2.3 Mission ............................................................................................................................................................... 16

2.4 Historical Events Of Anand Rathi ....................................................................................................................... 16

2.5 Anand Rathi Core Strengths ............................................................................................................................... 18

CHAPTER 3: THEORETICAL ASPECTS OF CONCEPT ....................................................................................................... 20

3.1 What are Future & Option? ............................................................................................................................... 20

3.2 Using Index Futures ........................................................................................................................................... 21

3.3 What is a Futures Contract? .............................................................................................................................. 21

3.4 How does Futures Trading Work? ..................................................................................................................... 22

3.5 Basic Rules for Futures Traders ......................................................................................................................... 23

3.6 Characteristics of futures trading ...................................................................................................................... 24

3.7 The S&P CNX Nifty Index Futures ...................................................................................................................... 24

3.8 Contract Specifications ...................................................................................................................................... 24

3.9 Trading Parameters ........................................................................................................................................... 25

3.10 The S&P CNX NSE Nifty 50 Index ..................................................................................................................... 26

CHAPTER 4: RESEARCH METHODOLOGY ..................................................................................................................... 28

4.1 Problem Statement ............................................................................................................................................ 28

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4.2 Review of Literatures ......................................................................................................................................... 28

4.3 Research Objective .......................................................................................................................................... 28

4.4 Research Design ................................................................................................................................................. 28

4.5 Sampling Techniques ......................................................................................................................................... 29

4.6 Data Collection Methods ................................................................................................................................... 29

4.7 Method of Analysis ............................................................................................................................................ 30

CHAPTER 5: BHARTI AIRTEL ......................................................................................................................................... 32

5.1 Vision ................................................................................................................................................................. 33

5.2 Financial analysis ............................................................................................................................................... 35

CHAPTER 6: NTPC ........................................................................................................................................................ 41

6.1 Vision ................................................................................................................................................................. 42

6.2 Mission ............................................................................................................................................................... 42

6.3 Core Values (BCOMIT) ....................................................................................................................................... 42


CHAPTER 7: ONGC ....................................................................................................................................................... 51

7.1 Vision & Mission ................................................................................................................................................ 52

7.2 Global Ranking ................................................................................................................................................... 52

7.3 Strategic Vision: 2001-2020 ............................................................................................................................... 52


CHAPTER 8: RCOM ....................................................................................................................................................... 59

8.1 Vision ................................................................................................................................................................. 59

8.2 Indias leading integrated telecom company .................................................................................................... 59


CHAPTER 9: RELIANCE INDUSTRIES LIMITED ............................................................................................................... 66

9.1 Products & Brands ............................................................................................................................................. 66

9.2 The Company is............................................................................................................................................... 67

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CHAPTER 10: ANALYSIS ................................................................................................................................................ 74

CHAPTER 11: INTERRELATION BETWEEN QUESTIONS ................................................................................................. 86

CHAPTER 12: FINDINGS ............................................................................................................................................... 87

CHAPTER 13: SUGGESTION .......................................................................................................................................... 88

CHAPTER 14: BIBLIOGRAPHY ....................................................................................................................................... 90

CHAPTER 15: ANNEXURE ............................................................................................................................................. 91

15.1 List of people to whom I interact in training at Anand Rathi:.......................................................................... 91

15.2 Weekly Reports ................................................................................................................................................ 92

15.3 Data Sheet ....................................................................................................................................................... 97

QUESTIONNAIRE ON FUTURE MARKET ....................................................................................................................... 98

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INDEX OF TABLES AND CHARTS

Table name Page

no.

Companys sector and lot size 29

BHARATI AIRTEL

Fact sheet 33

Yearly share prices 34

P & L a/c 35

Balance sheet 37

Future contract 38

Compare with peers 38

NTPC

Growth chart 43

P & L a/c 45

Balance sheet 47


Future contract 49

Peer comparison 49

ONGC

P & L a/c 53

Balance sheet 55

Future contract 57

Peer comparison 57

Rcom

P & L a/c 60

Balance sheet 62


Future contract 64

Reliance industries

P & L a/c 68

Balance sheet 70


Future contract 73

Compare with peers 73

Data Sheet 97

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Chapter 1

IndustryProfile

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The setting up of the National Stock Exchange in 1984, the introduction of online trading

in 1995, the establishment of the depository in 1996, trade guarantee funds and

derivatives trading in 2000, have made the markets safer. The introduction of the

Fraudulent Trade Practices Act, Prevention of Insider Trading Act, Takeover Code and

Corporate Governance Norms, are major developments in the capital markets over the

last few years that has made, the markets attractive to foreign institutional investors.

1.2 THE ORIGIN OF STOCK MARKETS

The origin of stock markets goes back a couple of centuries. The roots of stock markets

are to be found at the beginnings of the Industrial Revolution that began in Europe

about four centuries ago.

Many of the Pioneer merchants of the industrial age wanted to start huge Businesses,which no single merchant could raise alone. It therefore became inevitable for them to

come together, pool their savings and start these businesses as partners or co-owners.

The contribution of each partner to the enterprise was to be represented by a unit of

ownership. This was the precursor to what we call shares. And through this, joint stock

companies were born.

Initially, trading in shares began as informal hawking in the streets of London. As the

volume of shares increased with more companies floating shares (giving people

opportunities to buy their shares), the need for an organized marketplace for the

exchange of these shares escalated.

As a result, these traders decided to be meeting at a coffeehouse, which they used as

the marketplace. Eventually, they took over the coffeehouse and changed its name to

stock exchange. This was in the year 1773, and the first stock exchange, the London

Stock Exchange, was founded. Financial intermediaries (brokers, fund managers,

investment advisers investment banks etc) and other instruments like bonds were then

to follow suit as an inevitable consequence.

EXAMPLE:

Let's do this by example. Let's say you are the owner of a company that is worth $10

million. You want to share the risk (and rewards) of doing business so you decide to 'go

public'. You then decide to divide your business net worth ($1m) into 1 million pieces

(shares). You then decide to sell 900,000 shares to the general public on the stock

exchange. Simple math places the initial offering price of your shares at $10 each. You

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then have an 'Initial Public Offering' (IPO) where you sell the 900,000 shares with a

starting price of $10. Your business is now $9 million richer in cash but you are no

longer the boss but working for the share holders. Generally cash generated by IPO's

are used to expand the business, cancel debt, etc. As time progress your business

makes money and/or loses money. If you make a profit your business decides how

much of that profit is retained to invest in the business and the remainder is divided up

among the share holds. Let's say in the first quarter after your IPO, your company made

$100,000 in profit that will be given to ten shareholders in the form of a dividend. Since

there are 1million shares outstanding each share holder will get $.10 times the number

of shares they have. You will receive $10,000 because you kept 100,000 shares. The

value of a business can be determined by multiplying the number of outstanding shares

(1m) times the current share market price. If the business made money and purchased

assets and such, then the value of the individual shares will grow. If the company loses

money the value of the shares fall. The buyers and sellers of the shares of your

business are watching the value of your business to determine when to buy and whento sell which is all based on how they think your business will perform in the future. Buy

a low priced share of a business that makes good money and the share value goes up,

dividends are paid and you sell your stock at nice profit. Buy a high priced stare and the

business falters and share values drop and no dividends are paid and you lose money.

1.3 BULL MARKET AND BEAR MARKET

There are two classic market types used to characterize the general direction of the

market. Bull markets are when the market is generally rising, typically the result of a

strong economy. A bull market is typified by generally rising stock prices, high economic

growth, and strong investor confidence in the economy. Bear markets are the opposite.

A bear market is typified by falling stock prices, bad economic news, and low investor

confidence in the economy

A bull market is a financial market where prices of instruments (e.g., stocks) are, on

average, trending higher. The bull market tends to be associated with rising investor

confidence and expectations of further capital gains.

Its a market in which prices are rising. A market participant who believes prices willmove higher is called a "bull". A news item is considered bullish if it is expected to result

in higher prices. Here there is an advancing trend in stock prices that usually occurs for

a time period of months or years. Bull markets are generally characterized by high

trading volume.

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Simply put, bull markets are movements in the stock market in which prices are rising

and the consensus is that prices will continue moving upward. During this time,

economic production is high, jobs are plentiful and inflation is low. Bear markets are the

opposite--stock prices are falling, and the view is that they will continue falling. The

economy will slow down, coupled with a rise in unemployment and inflation.

A key to successful investing during a bull market is to take advantage of the rising

prices. For most, this means buying securities early, watching them rise in value and

then selling them when they reach a high. However, as simple as it sounds, this practice

involves timing the market. Since no one knows exactly when the market will begin its

climb or reach its peak, virtually no one can time the market perfectly. Investors often

attempt to buy securities as they demonstrate a strong and steady rise and sell them as

the market begins a strong move downward.

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Chapter 2

CompanyProfile

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CHAPTER 2: COMPANY PROFILE : ANAND RATHI SECURITIES LTD.

2.1 INTRODUCTION OF ANAND RATHI

Anand Rathi (AR) is a leading full service securities firm providing the entire gamut offinancial services. The firm, founded in 1994 by Mr. Anand Rathi, today has a pan India

presence as well as an international presence through offices in Dubai and Bangkok.

AR provides a breadth of financial and advisory services including wealth management,

investment banking, corporate advisory, brokerage & distribution of equities,

commodities, mutual funds and insurance - all of which are supported by powerful

research teams.

The firm's philosophy is entirely client centric, with a clear focus on providing long term

value addition to clients, while maintaining the highest standards of excellence, ethics

and professionalism. The entire firm activities are divided across distinct client groups:

Individuals, Private Clients, Corporate and Institutions.

2.2 VISION

To be amongst top 5 financial intermediaries in India by 2010.

2.3 MISSION

To be amongst the top 5 services providers of financial services.

Adding tangible value to clients.

Serving clients with the highest standards of excellence, ethics and professionalism.

2.4 HISTORICAL EVENTS OF ANAND RATHI

1994

Started activities in consulting and Institutional equity sales with safe of 15.

1995

Set up research desk and empanelled with major institutional investors.

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1997

Introduces investment banking business retail brokerage services launched.

1999

Lead managed first IPO and executed first M&A deal.

2001

Initiated wealth management services.

2002

Retail business expansion recommences with ownership model

2003

Wealth management assets cross Rs. 1500 crores Retail Branch network exceeds 50

insurance broking launched launch of wealth management services in Dubai.

2004

Retail Branch network expands across 100 locations within India commodities

brokerage and real estate services introduced wealth management assets cross Rs.

3000 crores institutional equities business relaunched and senior research team put in

place.

2005

Retail Branch network expands across 130 locations within India real estate private

equity fund launched.

2006

AR Middle East, WOS acquires membership of Dubai Gold & Commodity Exchange

(DGCX) Ranked amongst South Asia's top 5 wealth managers for the ultra-rich by Asia

Money 2006 poll Ranked 6th in FY2006 for All India Broker Performance in equity

distribution in the High net worth Individuals (HNI) Category Ranked 9th in the Retail

Category having more than 5% market share completes its presence in all States

across the country with offices at 300+ locations within India.

2007

Citigroup Venture Capital International picks up 19.9% equity stake.

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Chapter 3

Theoretical

aspects of

the concept

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CHAPTER 3: THEORETICAL ASPECTS OF CONCEPT

3.1 WHAT ARE FUTURE & OPTION?

1. A futures contract is just what it's called a contract. It is not equity in a stock or

commodity. It is a contract a contract to make or take delivery of a product in the

future, at a price set in the present

2. Index futures are the future contracts for which underlying is the cash market

index.

3. For example: BSE may launch a future contract on "BSE Sensitive Index" and NSE

may launch a future contract on "S&P CNX NIFTY".

4. Basis is defined as the difference between cash and futures prices:

Basis = Cash prices - Future prices.

5. Basis can be either positive or negative (in Index futures, basis generally is

negative). Basis may change its sign several times during the life of the contract.

Basis turns to zero at maturity of the futures contract i.e. both cash and future

prices converge at maturity

6. In formalized trading of futures contracts on exchanges, standardized agreements

specify price, quantity and the month of delivery. Futures markets have their roots

in agriculture, but today futures and options on futures are traded on a wide range

of products from wheat to natural gas to stock indexes, precious metals and

currencies

7. Options on futures can be thought of like insurance. An option buyer (the insured)

pays a premium to an option seller (the insurance company) for the right to buy or

sell a futures contract at a specific price. However, just like with insurance, the

option buyer may or may not exercise his right (use his insurance).

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3.2 USING INDEX FUTURES

There are eight basic modes of trading on the index future market:

Hedging

1. Long security, short Nifty Futures

2. Short security, long Nifty futures

3. Have portfolio, short Nifty futures

4. Have funds, long Nifty futures

Speculation

1. Bullish Index, long Nifty futures

2. Bearish Index, short Nifty futures

Arbitrage

1. Have funds, lend them to the market

2. Have securities, lend them to the market

Example:

If you agree in April with your Aunt Sue that you will buy two pounds of tomatoes from

her garden for $5, to be delivered to you when they're ripe in July, you and Sue just

entered into a futures contract.

3.3 WHAT IS A FUTURES CONTRACT?

A futures contract is a standardized contract, traded on a futures exchange, to buy or

sell a certain underlying instrument at a certain date in the future, at a specified price.

The future date is called the delivery date or final settlement date. The pre-set price is

called the futures price. The price of the underlying asset on the delivery date is called

the settlement price.

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A futures contract gives the holder the obligation to buy or sell, which differs from an

options contract, which gives the holder the right, but not the obligation. In other words,

the owner of an options contract may or may not exercise the contract. Where as in a

futures contract, both parties of a "futures contract" must fulfill the contract on the

settlement date.

In a futures contract the seller delivers the shares/commodity to the buyer, or, if it is a

cash-settled future, as in the case of stock futures in India, cash is transferred from the

futures trader who sustained a loss to the one who made a profit. To exit or close your

position in an existing futures contract prior to the settlement date, the holder of a

futures position has to offset his position by either selling a long position or buying back

a short position, effectively closing out the futures position and its contract obligations.

3.4 HOW DOES FUTURES TRADING WORK?

There are two basic categories of futures participants: hedgers and speculator

In general, hedgers use futures for protection against adverse future price movements

in the underlying cash commodity. The rationale of hedging is based upon the

demonstrated tendency of cash prices and futures values to move in tandem.

Hedgers are very often businesses, or individuals, who at one point or another deal in

the underlying cash commodity. Take, for instance, a major food processor who cans

corn. If corn prices go up, He must pay the farmer or corn dealer more. For protection

against higher corn prices, the processor can "hedge" his risk exposure by buyingenough corn futures contracts to cover the amount of corn he expects to buy. Since

cash and futures prices do tend to move in tandem, the futures position will profit if corn

prices rise enough to offset cash corn losses.

Speculators are the second major group of futures players. These participants include

independent traders and investors. For speculators, futures have important advantages

over other investments:

If the trader's judgment is good, He can make more money in the futures market faster

because futures prices tend, on average, to change more quickly than real estate or

stock prices, for example. On the other hand, bad trading judgment in futures markets

can cause greater losses than might be the case with other investments.

Futures are highly leveraged investments. The trader puts up a small fraction of the

value of the underlying contract (usually 10%-25% and sometimes less) as margin, yet

he can ride on the full value of the contract as it moves up and down. The money he

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puts up is not a down payment on the underlying contract, but a performance bond. The

actual value of the contract is only exchanged on those rare occasions when delivery

takes place. (Compare this to the stock investor who generally has to put up 100% of

the value of his stocks.) Moreover the futures investor is not charged interest on the

difference between the margin and the full contract value.

3.5 BASIC RULES FOR FUTURES TRADERS

1. Know why you are in the markets. To relieve boredom? To hit it big? When you

can honestly answer this question, you may be on your way to successful futures

trading.

2. Apply money management techniques to your trading.

3. Take a position only when you know where your profit goal is and where you are

going to get out if the market goes against you.

4. Don't trade many markets with little capital.

5. Calculate the risk/reward ratio before putting a trade on, then guard against the risk

of holding it too long.

6. Decide on entry points, exit points, and objectives. Subject your decisions to only

minor changes during the session. Profits are for those who act, snot react. Don't

change during the session unless you have a very good reason.

7. Trade with a plan not with hope, greed, or fear. Plan where you will get in the

market, plan how much you will risk on the trade, and plan where you will take your

profits.

8. Do not overstay a good market. If you do, you are bound to overstay a bad one

also.

9. Take your lumps. Just be sure they are little lumps. Very successful traders

generally have more losing trades than winning trades. It's just that they don't

leave any hang-ups about admitting they're wrong, and have the ability to close out

losing positions quickly.10.Most people do not have the time or the experience to trade futures profitably, so

choosing a broker is the most important step to profitable futures trading.

11.Don't trade on rumors. If you have, ask yourself this: "Over the long run, have I

made money or lost money trading on rumors? O.K. then, stops it.

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Expiry date : Date of contract expiry.

Instrument type represents the instrument i.e. Futures on Index.

Underlying symbol denotes the underlying index which is S&P CNX Nifty

Expiry date identifies the date of expiry of the contract.

Underlying Instrument

The underlying index is S&P CNX NIFTY.

Trading cycle

S&P CNX Nifty futures contracts have a maximum of 3-month trading cycle - the near

month (one), the next month (two) and the far month (three). A new contract is

introduced on the trading day following the expiry of the near month contract. The new

contract will be introduced for three month duration. This way, at any point in time, therewill be 3 contracts available for trading in the market i.e., one near month, one mid

month and one far month duration respectively.

Expiry day

S&P CNX Nifty futures contracts expire on the last Thursday of the expiry month. If the

last Thursday is a trading holiday, the contracts expire on the previous trading day.

3.9 TRADING PARAMETERS

Contract size

The permitted lot size of S&P CNX Nifty futures contracts is 200 and multiples thereof.

Price steps

The price step in respect of S&P CNX Nifty futures contracts is Re.0.05.

Base Prices

Base price of S&P CNX Nifty futures contracts on the first day of trading would be

theoretical futures price. The base price of the contracts on subsequent trading days

would be the daily settlement price of the futures contracts.

Price bands

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Chapter 4ResearchMethodology

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5.1 VISION

By 2010 Airtel will be the most admired brand in India:

Loved by more customers Targeted by top talent Benchmarked by more businesses

We at Airtel always think in fresh and innovative ways about the needs of our customers

and how we want them to feel. We deliver what we promise and go out of our way to

delight the customer with a little bit more.

FACT SHEET

NameBharti Airtel Limited.

Business Description Provides mobile, telemedia services (fixedline) and enterprise services (carriers &services to corporate)

EstablishedJuly 07, 1995, as a Public LimitedCompany

Proportionate RevenueRs. 184,202 million (year ended March 31,2007-Audited)Rs. 117,255 million (year ended March 31,2006-Audited)

AS PER INDIAN GAAP ACCOUNTS

Proportionate EBITDA

Rs. 74,407 million (year ended March 31,

2007-Audited)Rs. 42,250 million (year ended March 31,2006-Audited)

AS PER INDIAN GAAP ACCOUNTS

Shares in Issue1,897,148,464 as at June 30, 2007

ListingsThe Stock Exchange, Mumbai (BSE)The National Stock Exchange of IndiaLimited (NSE)

Market Capitalization

Customer Base64,370,434 GSM mobile and 2,319,509telemedia customers (Status as at monthended April 30, 2008)

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PRICE OF BHARATI

Date Share prices

04-06-2007 826.80

02-07-2007 837.00

01-08-2007 862.90

03-09-2007 869.55

28-09-2007 939.90

29-10-2007 995.45

28-11-2007 910.05

03-12-2007 923.95

01-01-2008 967.60

28-01-2008 869.10

01-02-2008 909.45

03-03-2008 792.25

31-03-2008 826.25

01-04-2008 803.10

02-05-2008 900.25

30-05-2008 875.95

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Future prices of BHARTI AIRTEL

Compare with peers

Company Name Net sales(in Cr) Net profitBharti 17,906.54 4,033.23

Rcom 12,756.30 2,408.85

idea 4,366.40 502.06

Tata comm. 4,041.83 468.56

Instrument Type

Underlying ExpiryDate

HighPrice

LowPrice

PrevClose

LastPrice

Numberofcontracts traded

Turnover inRs.Lakh

UnderlyingValue

FUTSTK BHARTIARTL

29may2008

873.00

851.50

862.80

870.00

632113649.09

869.90

FUTSTK BHARTIARTL

26June2008

871.00

851.25

861.45

870.00

30376560.07

869.90

FUTSTK BHARTIARTL

31July2008

870.00

870.00

862.50

870.00

1 2.18 869.90
http://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=BSE&opttopic=netsales&group=All&sort=sc_comp&order=&indcode=Telecommunications%20-%20Servicehttp://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=BSE&opttopic=netsales&group=All&sort=sc_comp&order=&indcode=Telecommunications%20-%20Servicehttp://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKBHARTIARTL29MAY2008--27MAY2008&symbol=BHARTIARTL&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=BSE&opttopic=netsales&group=All&sort=sc_comp&order=&indcode=Telecommunications%20-%20Service

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Chapter 6NTPC

National

Thermal

power Corp.

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CHAPTER 6: NTPC

NTPC Limited is the largest power generating company of India. A public sector

company, it was incorporated in the year 1975 to accelerate power development in

the country as a wholly owned company of the Government of India. At present,

Government of India holds89.5% of the total equity shares of the company and the

balance 10.5% is held by FIIs,Domestic Banks, Public and others

NTPC's core business is engineering, construction and operation of power

generating plants. It also provides consultancy in the area of power plant

constructions and power generation to companies in India and abroad.

Shri R. S. Sharma takes over as the Chairman & Managing Director of NTPC

from 1st May, 2008.

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6.1 VISION

"A world class integrated power major, powering Indias growth, with increasing globalpresence"

6.2 MISSION

"Develop and provide reliable power, related products and services at competitive

prices, integrating multiple energy sources with innovative and eco friendly

technologies and contribute to society"

6.3 CORE VALUES (BCOMIT)

Business Ethics Customer Focus Organizational & professional Pride Mutual Respect and Trust Innovation and Speed Total Quality for Excellence

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PBDIT 5,956.20 11,335.70 9,751.70 10,332.10 13,045.70

Interest 991.60 3,372.70 1,701.60 2,004.60 2,055.70

PBDT 4,964.60 7,963.00 8,050.10 8,327.50 10,990.00

Depreciation 1,529.10 2,023.20 1,958.40 2,047.70 2,075.40

Other Written Off 0.00 9.50 0.40 1.30 9.90Profit Before Tax 3,435.50 5,930.30 6,091.30 6,278.50 8,904.70

Extra-ordinary items 318.50 1,013.50 574.70 633.70 134.20

PBT (Post Extra-ordItems)

3,754.00 6,943.80 6,666.00 6,912.20 9,038.90

Tax 146.50 1,658.30 834.80 1,082.40 2,163.70

Reported Net Profit 3,607.50 5,260.80 5,807.00 5,820.20 6,864.70

Total Value Addition 13,494.90 13,627.20 15,234.00 18,683.70 22,437.90

Preference Dividend 0.00 0.00 0.00 0.00 0.00

Equity Dividend 708.00 1,082.30 1,979.00 2,308.70 2,638.50

Corporate DividendTax

39.50 138.70 268.00 323.80 389.60

Per share data (annualized)

Shares in issue(Lakhs)

78,125.49 78,125.49 82,454.64 82,454.64 82,454.64

Earning Per Share(Rs)

4.62 6.73 7.04 7.06 8.33

Equity Dividend (%) 9.06 13.85 24.00 28.00 32.00

Book Value (Rs) 40.34 45.99 50.67 54.53 58.94

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Balance Sheet

Mar '03 Mar '04 Mar '05 Mar '06 Mar '07

12 mths 12 mths 12 mths 12 mths 12 mths

Sources Of Funds

Total Share Capital 7,812.50 7,812.50 8,245.50 8,245.50 8,245.50

Equity Share Capital 7,812.50 7,812.50 8,245.50 8,245.50 8,245.50

Share ApplicationMoney

0.00 0.00 0.00 0.00 0.00

Preference ShareCapital

0.00 0.00 0.00 0.00 0.00

Reserves 23,700.20 28,116.00 33,530.80 36,713.20 40,351.30

Revaluation Reserves 0.00 0.00 0.00 0.00 0.00

Net worth 31,512.70 35,928.50 41,776.30 44,958.70 48,596.80

Secured Loans 4,149.70 4,743.50 4,778.10 6,173.50 7,479.60

Unsecured Loans 9,093.10 10,868.40 12,647.10 14,464.60 17,661.50

Total Debt 13,242.80 15,611.90 17,425.20 20,638.10 25,141.10

Total Liabilities 44,755.50 51,540.40 59,201.50 65,596.80 73,737.90



Application Of Funds

Gross Block 36,610.60 39,933.70 42,996.10 45,917.60 50,604.20

Less: Accum.Depreciation

16,745.60 18,773.60 20,791.40 22,950.10 25,079.20

Net Block 19,865.00 21,160.10 22,204.70 22,967.50 25,525.00

Capital Work inProgress

6,386.30 7,589.70 10,038.60 13,756.00 16,962.30

Investments 3,667.40 17,338.00 20,797.70 19,289.10 16,094.30

Inventories 1,771.20 1,738.00 1,777.70 2,340.50 2,510.20

Sundry Debtors 12,434.90 469.90 1,374.70 867.80 1,252.30

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Future contracts of NTPC

As on 27-MAY-2008

Instrum

ent Type

Underlyi

ng

Expi

ryDate

Hig

hPrice

Lo

wPrice

Prev

Close

Last

Price

Numbe

r ofcontractstraded

Turnov

er inRs.Lakh

Underlyi

ng Value

FUTSTK NTPC 29may2008

179.15

175.80

176.05

177.80

3462 10002.58

177.50

FUTSTK NTPC 26June2008

179.70

176.65

176.75

178.45

2545 7376.3 177.50

FUTSTK NTPC 31

July2008

180.

25

178.

35

179.

95

179 12 35.02 177.50

Peer comparison

Company Name Net Profit Net Sales(Rs. Cr)

NTPC 6,864.70 32,631.70Reliance Infra 801.45 5,752.47

Tata Power 696.80 4,918.53

Power Grid Corp 1,229.37 3,589.85

CESC 300.70 2,519.27

Neyveli Lignite 522.35 2,109.01

Torrent Power 71.78 1,409.93
http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=NSE&opttopic=netsales&group=All&sort=sc_comp&order=&indcode=Power%20-%20Generation/Distributionhttp://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=NSE&opttopic=netsales&group=All&sort=net_sales&order=&indcode=Power%20-%20Generation/Distributionhttp://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=NSE&opttopic=netsales&group=All&sort=net_sales&order=&indcode=Power%20-%20Generation/Distributionhttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=NTPhttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=RI38http://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=TPChttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=PGChttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=CEShttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=NLChttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=TP14http://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=TP14http://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=NLChttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=CEShttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=PGChttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=TPChttp://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=RI38http://www.moneycontrol.com/stocks/cptmarket/pricechart.php?sc_did=NTPhttp://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=NSE&opttopic=netsales&group=All&sort=net_sales&order=&indcode=Power%20-%20Generation/Distributionhttp://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=NSE&opttopic=netsales&group=All&sort=net_sales&order=&indcode=Power%20-%20Generation/Distributionhttp://www.moneycontrol.com/stocks/marketinfo/netsales.php?optex=NSE&opttopic=netsales&group=All&sort=sc_comp&order=&indcode=Power%20-%20Generation/Distributionhttp://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1

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Chapter 7ONGC

Oil and

Natural Gas

Corp.

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CHAPTER 7: ONGC

ONGC today, is repositioning itself to foster the principle of relational enterprise through

partnerships/ strategic, alliances / joint ventures with preferred partners and adopt abusiness strategy which relies on company skills and positional assets with focus on

core business areas and opportunity specific diversification.

The Corporation, both in medium and long term, will:

Continue to access E&P business both in the domestic and international sectors.

Strive to reach out to opportunities specific related business of downstream sector,

core competence services business, energy and other sectors in general.

Joint Venture Group

ONGC has recognized the need to expand its business through profitable ventures

related to petroleum and energy sectors by entering into joint ventures with other Indian

and foreign companies. ONGC-Joint venture group (ONGC-JVG) has been formed to

give impetus to joint venture activities in areas other than E&P.

ONGC-JVG is responsible for identification and developing new business opportunities

with Indian and foreign companies in following areas:

Participation in downstream projects like refining/ gas processing /LNG/ powerprojects etc.

Participation in construction projects, pipelines, process plants etc.

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OperatingProfit

17,980.79 16,825.79 23,609.09 26,995.58 28,286.09

PBDIT 19,561.77 18,079.30 24,981.75 29,495.25 31,393.14

Interest 1,538.95 2,753.03 3,548.39 3,718.44 3,724.81

PBDT 18,022.82 15,326.27 21,433.36 25,776.81 27,668.33

Depreciation 1,953.78 1,768.02 1,824.22 3,852.76 3,292.80

Other WrittenOff

0.00 0.00 0.00 0.00 0.00

Profit BeforeTax

16,069.04 13,558.25 19,609.14 21,924.05 24,375.53

Extra-ordinaryitems

249.21 102.57 146.08 -122.87 -564.27

PBT (PostExtra-ord Items)

16,318.25 13,660.82 19,755.22 21,801.18 23,811.26

Tax 5,772.79 4,958.77 6,685.95 7,321.43 8,041.02

Reported NetProfit

10,529.32 8,664.45 12,983.05 14,430.78 15,642.92

Total ValueAddition

15,040.39 13,330.60 15,767.83 15,543.24 20,430.40

PreferenceDividend

0.00 0.00 0.00 0.00 0.00

Equity Dividend 4,277.80 3,422.24 5,703.74 6,416.70 6,630.51

Corporate

Dividend Tax

237.51 438.48 776.33 899.94 1,012.51

Per share data (annualized)

Shares in issue(Lakhs)

14,259.34 14,259.34 14,259.34 14,259.34 21,388.73

Earning PerShare (Rs)

73.84 60.76 91.05 101.20 73.14

Equity Dividend(%)

300.00 240.00 400.00 450.00 310.00

Book Value(Rs)

250.64 284.33 328.52 378.42 289.52

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Progress

Investments 3,982.59 4,421.67 4,036.67 4,888.57 5,702.05

Inventories 1,571.02 2,405.69 2,569.19 3,038.49 3,033.76

Sundry Debtors 3,935.93 2,317.80 3,729.31 3,704.28 2,759.44

Cash and BankBalance 81.80 15.34 20.88 699.80 27.42

Total CurrentAssets

5,588.75 4,738.83 6,319.38 7,442.57 5,820.62

Loans andAdvances

10,808.98 17,187.69 39,574.73 52,293.83 58,710.79

Fixed Deposits 6,027.22 8,726.30 9,445.98 8,113.02 19,253.37

Total CA, Loans& Advances

22,424.95 30,652.82 55,340.09 67,849.42 83,784.78

Deferred Credit 0.00 0.00 0.00 0.00 0.00

CurrentLiabilities

9,280.76 12,007.45 13,249.06 16,515.78 19,835.99

Provisions 5,555.25 2,510.28 24,572.10 31,122.39 39,765.20

Total CL &Provisions

14,836.01 14,517.73 37,821.16 47,638.17 59,601.19

Net CurrentAssets

7,588.94 16,135.09 17,518.93 20,211.25 24,183.59

MiscellaneousExpenses

130.77 540.68 531.16 366.34 514.06

Total Assets 36,539.19 51,950.89 56,761.64 66,682.28 77,032.98

Contingent

Liabilities

19,111.19 22,456.31 26,593.45 32,907.71 34,157.17

Book Value(Rs)

250.64 284.33 328.52 378.42 289.52

Source: www.moneycontrol.com
http://www.moneycontrol.com/http://www.moneycontrol.com/

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Chapter 8Reliance

Commu-

nication

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Current Liabilities 0.00 1.68 6,309.33

Provisions 0.00 2.57 4,422.81

Total CL & Provisions 0.00 4.25 10,732.14

Net Current Assets 0.01 3,154.71 9,374.90

Miscellaneous Expenses 0.00 0.00 0.00Total Assets 0.01 15,395.05 35,093.38

Contingent Liabilities 0.00 0.00 3,781.30

Book Value (Rs) 10.00 1,478,348.00 100.39


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Future contracts of RCOM

As on 5-JUNE-2008

YEARLY SHARE PRICES

Date Share prices

04-06-2007 508.9502-07-2007 529.2501-08-2007 530.8003-09-2007 545.0028-09-2007 586.7529-10-2007 775.3028-11-2007 678.9003-12-2007 711.8001-01-2008 739.4528-01-2008 646.6001-02-2008 611.15

03-03-2008 542.3531-03-2008 509.7501-04-2008 520.8502-05-2008 561.4030-05-2008 576.95

InstrumentType

Underlying

ExpiryDate

HighPrice

LowPrice

PrevClose

LastPrice

Number ofcontractstraded

Turnover inRs.Lakh

UnderlyingValue

FUTSTK RCOM 26 June2008

547.35 521.6 540.2 532.6 14018 26260.48 530.05

FUTSTK RCOM 31 July2008

542.85 524. 543.9 533.7 76 142.21 530.05

FUTSTK RCOM 28 Aug2008

526.0 508.1 563.5 526.0 2 3.62 530.05
http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM26JUN2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM26JUN2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM26JUN2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM28AUG2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM28AUG2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM26JUN2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM26JUN2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM26JUN2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKRCOM26JUN2008--05JUN2008&symbol=RCOM&flag=1http://www.nseindia.com/marketinfo/fo/foquote.jsp?key=FUTSTKNTPC29MAY2008--27MAY2008&symbol=NTPC&flag=1

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9.3 FINANCIAL ANALYSIS

Profit & Loss account



Income

Sales Turnover 56,247.03 73,164.10 89,124.46 118,353.71 139,269.46

Excise Duty 4,397.40 7,245.27 8,246.67 6,654.68 5,463.68

Net Sales 51,849.63 65,918.83 80,877.79 111,699.03 133,805.78

Other Income 1,384.61 1,573.70 546.96 236.89 6,595.66

Stock Adjustments -605.41 -524.35 2,131.19 654.60 -1,867.16

Total Income 52,628.83 66,968.18 83,555.94 112,590.52 138,534.28

Expenditure

Raw Materials 35,984.76 47,418.04 59,739.29 80,791.65 98,832.14

Power & Fuel Cost 725.15 907.94 1,146.26 2,261.69 2,052.84

Employee Cost 804.75 846.40 978.45 2,094.09 2,119.33

Other ManufacturingExpenses

323.40 303.97 668.31 1,112.17 715.19

Selling and AdminExpenses

3,406.76 3,000.27 5,872.33 5,478.10 5,549.40


411.88 217.30 300.74 321.23 412.66

Preoperative ExpCapitalized

-26.43 -9.60 -155.14 -111.21 -175.46

Total Expenses 41,630.27 52,684.32 68,550.24 91,947.72 109,506.10



Operating Profit 9,613.95 12,710.16 14,458.74 20,405.91 22,432.52

PBDIT 10,998.56 14,283.86 15,005.70 20,642.80 29,028.18

Interest 1,443.40 1,486.54 893.61 1,298.90 1,162.90

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Balance Sheet

In Rs. Cr.

Mar 04 Mar 05 Mar '06 Mar '07 Mar '08


Sources Of Funds

Total ShareCapital

1,395.95 1,393.09 1,393.17 1,393.21 1,453.39

Equity ShareCapital

1,395.95 1,393.09 1,393.17 1,393.21 1,453.39

Share

ApplicationMoney

0.00 0.00 0.00 60.14 1,682.40

PreferenceShare Capital

0.00 0.00 0.00 0.00 0.00

Reserves 30,322.97 36,280.35 43,760.90 59,861.81 77,441.55

RevaluationReserves

2,733.53 2,729.88 4,650.19 2,651.97 871.26

Net worth 34,452.45 40,403.32 49,804.26 63,967.13 81,448.60

SecuredLoans

11,451.14 7,972.90 7,664.90 9,569.12 6,600.17

UnsecuredLoans 9,493.52 10,811.69 14,200.71 18,256.61 29,879.51

Total Debt 20,944.66 18,784.59 21,865.61 27,825.73 36,479.68

TotalLiabilities

55,397.11 59,187.91 71,669.87 91,792.86 117,928.28



Application Of Funds

Gross Block 53,502.91 55,125.82 84,970.13 99,532.77 104,229.10Less: Accum.Depreciation

21,713.74 24,872.83 29,253.38 35,872.31 42,345.47

Net Block 31,789.17 30,252.99 55,716.75 63,660.46 61,883.63

Capital Workin Progress

3,356.81 4,829.29 6,957.79 7,528.13 23,005.84

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Investments 13,971.40 17,051.46 5,846.18 16,251.34 22,063.60

Inventories 7,231.22 7,412.88 10,119.82 12,136.51 14,247.54

SundryDebtors

3,189.93 3,927.81 4,163.62 3,732.42 6,227.58

Cash and

Bank Balance

208.77 384.51 239.31 308.35 217.79

Total CurrentAssets

10,629.92 11,725.20 14,522.75 16,177.28 20,692.91

Loans andAdvances

12,400.97 13,869.67 8,266.55 12,506.71 18,441.20

Fixed Deposits 15.47 3,224.28 1,906.85 1,527.00 4,062.26

Total CA,Loans &

Advances

23,046.36 28,819.15 24,696.15 30,210.99 43,196.37

Deferred

Credit

0.00 0.00 0.00 0.00 0.00

CurrentLiabilities

14,095.88 17,917.41 17,656.02 24,145.19 29,228.54

Provisions 2,670.75 3,847.57 3,890.98 1,712.87 2,992.62

Total CL &Provisions

16,766.63 21,764.98 21,547.00 25,858.06 32,221.16

Net CurrentAssets

6,279.73 7,054.17 3,149.15 4,352.93 10,975.21


0.00 0.00 0.00 0.00 0.00

Total Assets 55,397.11 59,187.91 71,669.87 91,792.86 117,928.28

ContingentLiabilities

8,559.77 6,579.47 24,897.66 46,767.18 37,157.61

Book Value(Rs)

227.15 270.35 324.03 439.57 542.74


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CHAPTER 10: ANALYSIS

1. In which market do you like to trade?

Cash market

Future market

Why or why not in cash market_____________________________________

Why or why not in future market__________________________________

cash73%

future27%

cash future

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49%

26%

25%

why trading in future?

high return

low margin

volume trading

52%

11%

20%

17%

why trading in cash market?

less risky

long term

low volatality

safety

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to trade every rumor. So not only chose the right script but the right time also for

investment.

8. Frequently, traders judge markets on the local situation only, rather than taking

the worldwide situation into account. So before invest in stock investors have to

study local as well as international issues.

9. Too many traders do not apply money management techniques. They have no

discipline, no plan. Many also overstay when the market goes against them, and

won't limit their losses. So they have to apply money management techniques.

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BHAGWAN MAHAVIR COLLEGE OF

MANAGEMENT

QUESTIONNAIRE ON FUTURE MARKET

Age: Occupation:

1) In which market do you like to trade?

Cash market

Future market

Why or why not in cash market_____________________________________

Why or why not in future market____________________________________

2) In which script you like to trade?

Individual script futures

Nifty futures

Why___________________________________________________

3) In which cap you are investing your money in future market?

Large cap

Mid cap

Small cap

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7) When do you like to trade in future market?

Bullish

Bearish

Steady

8) For how many days you hold in future?

1 to 3 days

3 to 7 days

7 to 15 days

More than 15 days

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