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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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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
6.4 Financial analysis ............................................................................................................................................... 44
CHAPTER 7: ONGC ....................................................................................................................................................... 51
7.1 Vision & Mission ................................................................................................................................................ 52
7.2 Global Ranking ................................................................................................................................................... 52
7.3 Strategic Vision: 2001-2020 ............................................................................................................................... 52
7.4 Financial analysis ............................................................................................................................................... 53
CHAPTER 8: RCOM ....................................................................................................................................................... 59
8.1 Vision ................................................................................................................................................................. 59
8.2 Indias leading integrated telecom company .................................................................................................... 59
8.3 Financial analysis ............................................................................................................................................... 60
CHAPTER 9: RELIANCE INDUSTRIES LIMITED ............................................................................................................... 66
9.1 Products & Brands ............................................................................................................................................. 66
9.2 The Company is............................................................................................................................................... 67
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9.3 Financial analysis ............................................................................................................................................... 68
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
Yearly share prices 48
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
Yearly share prices 64
Future contract 64
Reliance industries
P & L a/c 68
Balance sheet 70
Yearly share prices 72
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-%20Service7/27/2019 5 Com
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STUDY OF TOP FIVE COMPANIES IN FUTURE MARKET AS PER MARKET CAPITALISATION
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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STUDY OF TOP FIVE COMPANIES IN FUTURE MARKET AS PER MARKET CAPITALISATION
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
Mar '03 Mar '04 Mar '05 Mar '06 Mar '07
12 mths 12 mths 12 mths 12 mths 12 mths
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=17/27/2019 5 Com
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STUDY OF TOP FIVE COMPANIES IN FUTURE MARKET AS PER MARKET CAPITALISATION
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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STUDY OF TOP FIVE COMPANIES IN FUTURE MARKET AS PER MARKET CAPITALISATION
12 mths 12 mths 12 mths 12 mths 12 mths
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
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STUDY OF TOP FIVE COMPANIES IN FUTURE MARKET AS PER MARKET CAPITALISATION
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
Source: www.moneycontrol.com
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STUDY OF TOP FIVE COMPANIES IN FUTURE MARKET AS PER MARKET CAPITALISATION
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=17/27/2019 5 Com
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9.3 FINANCIAL ANALYSIS
Profit & Loss account
Mar '04 Mar '05 Mar '06 Mar '07 Mar '08
12 mths 12 mths 12 mths 12 mths 12 mths
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
MiscellaneousExpenses
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
Mar '04 Mar '05 Mar '06 Mar '07 Mar '08
12 mths 12 mths 12 mths 12 mths 12 mths
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
12 mths 12 mths 12 mths 12 mths 12 mths
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
Mar '04 Mar '05 Mar '06 Mar '07 Mar '08
12 mths 12 mths 12 mths 12 mths 12 mths
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
MiscellaneousExpenses
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
Source: www.moneycontrol.com
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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