Equity Analysis

EQUITY INVESTMENT
CHAPTER-1
INTRODUCTION
SANSKRITHI SCHOOL OF BUSINESS Page 1

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INTRODUCTION OF THE STUDY:
Investment is the employment of funds on assets with the aim of earning income or
capital appreciation. Investment has two attributes namely time and risk. Present
consumption is sacrificed to get a return in the future. The sacrifice that has to be borne is
certain but the return in the future may be uncertain. This attribute of investment indicates
the risk factor. The risk is undertaken with a view to reap some return from the investment.
For a layman, investment means some monetary commitment. A person’s commitment to
buy a flat or a house for his personal use may be an investment from his point of view. This
cannot be considered as an actual investment as it involves sacrifice but does not yield any
financial return.
Financial investment is the allocation of money to assets that are expected to yield
some gain over a period of time. It is an exchange of financial claims such as stocks and
bonds for money. They are expected to yield return and experience capital growth over the
years.
Investors always expect a good rate of return from their investments. Rate of return
could be defined as the total income the investor receives during the holding period stated
as a percentage of the purchasing price at the beginning of the holding period. Rate of
return is stated semi-annually or annually to help comparison among the different
investment alternatives. If it is a stock, the investor gets the dividend as well as the capital
appreciation as returns. Market return of the stock indicates the price appreciation for the
particular stock.

EQUITY INVESTMENT
CHAPTER-2
RESEARCH METHODOLOGY

EQUITY INVESTMENT
NEEDS AND IMPORTANCE OF STUDY
Equity investments generally refers to the buying and holding of shares of stock on a
stock market by individuals and firms in anticipation of income from dividends and capital
gain as the value of the stock rises. It also sometimes refers to the acquisition of equity
(ownership) participation in a private (unlisted) company or a startup (a company being
created or newly created). When the investment is in infant companies, it is referred to as
venture capital investing and is generally understood to be higher risk than investment in
listed going-concern situations.
The equities held by private individuals are often held via mutual funds or other
forms of pooled investment vehicle, many of which have quoted prices that are listed in
financial newspapers or magazines; the mutual funds are typically managed by prominent
fund management firms (e.g. Schroder’s, Fidelity Investments or the Vanguard Group). Such
holdings allow individual investors to obtain the diversification of the fund(s) and to obtain
the skill of the professional fund managers in charge of the fund(s). An alternative, usually
employed by large private investors and pension funds, is to hold shares directly; in the
institutional environment many clients who own portfolios have what are called segregated
funds as opposed to, or in addition to, the pooled e.g. mutual fund alternative.
A calculation can be made to assess whether an equity is over or underpriced compared

with a long-term government bond. This is called the Yield Gap or Yield Ratio. It is the ratio
of the dividend yield of an equity and that of the long-term bond.

EQUITY INVESTMENT
OBJECTIVE OF THE STUDY
 To analyze risk and return of equity share of industry

 To compare the risk and return IT companies in india stock market
 To find out the extent of the relationship between IT companies and market india.
 To offer valid suggestion for the investors.

EQUITY INVESTMENT
SCOPE OF THE STUDY
The study is conducted to understand the investment of the investors in equity

market. The choice of location for the study is Anantapur Branch. Based on the responses
given by the clients at SHRIRAM INSIGHT SHARE BROKERS LTD a report is submitted to the
company. The study will help the company in understanding the perception of investors
towards equity market in order to serve the client in a better way and in maximizing the
profits of their clients as well as that of a company.

EQUITY INVESTMENT
LIMITATIONS OF THE STUDY
 The study is taken up at Anantapur branch only.

 The data is collected from existing clients of shiriram insight share brokers limited
 The study is limited to only equities.
 The duration of 45 days is not sufficient to gathers the in do
 The present study is limited 2013-2017

EQUITY INVESTMENT
Research Methodology:
The research design is causal in nature, in order to identify the investment investers
of a client in equities and preference of investors towards equities who trade in equity
market. The research is conducted in phased manner in order to have clarity and proper
understanding and analysis of data. The research methodology adopted is explained in
following phases
Objective & Literature study.
The order to gain proper understanding of various issues related with the
functioning of equities transactions literature survey is taken up. In addition the
relevance of the topic to the overall financial market as well as to the organization is
also ascertained.
SOURCES OF DATA
The data is collected from two sources
1. PRIMARY DATA:-
The data which has been collected for the first time and is the original data in this
project the primary data has been taken from shriram insights staff and guide of
the project.
2. SECONDARY DATA:-
Secondary data is defined as existed data. Secondary data is collected from
already available sources such as published papers, journals, magazines reports
company literature etc.

EQUITY INVESTMENT
DATA COLLECTION
I have collected data from secondary sources, such as websites, journals.
TOOL USED IN THIS PROJECT

 MEAN
 STANDARD DEVIATION
 BETA VALUE
 Variance
 Co-efficient of variance

EQUITY INVESTMENT
CHAPTER-3
COMPANY PROFILE
&
INDUSTRY PROFILE

EQUITY INVESTMENT
COMPANY PROFILE:
SHRIRAM INSIGHT SHARE BROKERS LTD
Strong Pedigree
SHRIRAM INSIGHT SHARE BROKERS LTD is the retail broking arm of the Shriram Group
Chennai . Founded in 1974 by Padma Bhusan Sri R. Thiagarajan , the Shriram Group
currently serves around 9.3 million clients through its 2800 branches , over 70000
employees and 140000 agents with an AUM of over Rs 93000 crores.
Leading Retail Stock Broking firm with FOCUSED APPROACH
SHRIRAM INSIGHT SHARE BROKERS LTD is a focused brokerage firm in the retail space
with a pan India presence. At present the company has a point of presence in around 700
centers covering 200 cities and towns mostly in the Tier II & III levels spread across the
country . Currently the company has a client base of over 185,000 in broking and over
165000 in its depository business one of the leading broker in Eastern India both for NSE,
BSE, as also a leading DP in CDSL.
Comprehensive Service Offerings
The Company offers a wide range of services, which include equities broking,
derivatives broking, margin financing, commodities broking, depository services and

EQUITY INVESTMENT
distribution of financial products, to comprehensively service the investment needs of its

retail clients. It has also recently embarked into the RTA business.
Strong Management Team
SHRIRAM INSIGHT SHARE BROKERS LTD's top management team is totally hands-on
and comprises highly motivated and experienced people. The key people are professionally
qualified with degrees from the Premier Engineering, Management & Accounting
Institutions of the country.
Genesis of the Shriram phenomenon
The 90,000 Cr Shriram Group had its humble beginnings in the Chit Fund business over
three decades ago. R Thyagarajan, AVS Raja and T Jayaraman were the “three musketeers” who
ventured into these businesses. Not many in the Financial services industry thought at that time,
this small Chit Funds business in Chennai would indeed be the foundation for the financial
conglomerate that Shriram is today.
The Shriram Way!
Shriram Group’s businesses strive to serve the largest number of common people.
Consider these: Commercial Vehicle Financing, Consumer & Enterprise Finance, Retail Stock
Broking, Life Insurance, Chit Funds and Distribution of Investment & Insurance Products. Our
foray into Non-Life (General) Insurance, is again a strong expression of this commitment.
Industrial Investments
The Group has also made investments in Manufacturing, Value Added Services, Project
Development, Engineering Services, Pharmaceuticals, Machined & Auto Components, Press

EQUITY INVESTMENT
Dies & Sheet Metal Stamping, Packaging, Information Technology, Property Development
etc
Group Companies
SHRIRAM CAPITAL
SHRIRAM CITY
SHRIRAM LIFE
SHRIRAM GI
SHRIRAM FORTUNE
SHRIRAM AMC
Technology
SHRIRAM INSIGHT SHARE BROKERS LTD has invested heavily in technology to provide best in
class trading platforms in the market. Our developers are constantly working on newer, better and
faster technology solutions to give you an edge over other traders in the market. SHRIRAM INSIGHT
SHARE BROKERS LTD offers access to many powerful trading platforms through your same Login
code.
Our advanced and seamlessly integrated flagship Shriram Netpro trading platforms : Mobile,
Browser, Desktop
Career
SHRIRAM INSIGHT SHARE BROKERS LTD is looking for YOU. Come, follow the LEADER!
At SHRIRAM INSIGHT SHARE BROKERS LTD, India's leading financial services firm,
possibilities are endless and opportunities countless. If YOU are dynamic, willing to share
our vision of revolutionising the money market and have the ambition to grow on the fast
lane, we at SHRIRAM INSIGHT SHARE BROKERS LTD are waiting to hear from YOU!

EQUITY INVESTMENT
 Best in your class
 Passionate about proving your mettle
 Have a goal
 Willing to work hard
 Share our dream

EQUITY INVESTMENT
INDUSTRY PROFILE
Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a rich
heritage. Popularly known as "BSE", it was established as "The Native Share & Stock Brokers
Association" in 1875. It is the first stock exchange in the country to obtain permanent
recognition in 1956 from the Government of India under the Securities Contracts
(Regulation) Act, 1956.The Exchange's pivotal and pre-eminent role in the development of
the Indian capital market is widely recognized and its index, SENSEX, is tracked worldwide.
Earlier an Association of Persons (AOP), the Exchange is now a demutualised and
corporatized entity incorporated under the provisions of the Companies Act, 1956, pursuant
to the BSE (Corporatization and Demutualization) Scheme, 2005 notified by the Securities
and Exchange Board of India (SEBI).
With demutualization, the trading rights and ownership rights have been de-linked
effectively addressing concerns regarding perceived and real conflicts of interest. The
Exchange is professionally managed under the overall direction of the Board of Directors.
The Board comprises eminent professionals, representatives of Trading Members and the
Managing Director of the Exchange. The Board is inclusive and is designed to benefit from
the participation of market intermediaries. In terms of organization structure, the Board
formulates larger policy issues and exercises over-all control. The committees constituted by
the Board are broad-based. The day-to-day operations of the Exchange are managed by the
Managing Director and a management team of professionals. The Exchange has a nation-
wide reach with a presence in 417 cities and towns of India. The systems and processes of
the Exchange are designed to safeguard market integrity and enhance transparency in
operations. During the year 2004-2005, the trading volumes on the Exchange showed robust
growth. The Exchange provides an efficient and transparent market for trading in equity,
debt instruments and derivatives. The BSE's On Line Trading System (BOLT) is a proprietary

EQUITY INVESTMENT
system of the Exchange and is BS 7799-2-2002 certified. The Surveillance and clearing &
settlement functions of the Exchange are ISO 9001:2000 certified
The National Stock Exchange of India Limited has genesis in the report of the High
Powered Study Group on Establishment of New Stock Exchanges, which recommended
promotion of a National Stock Exchange by financial institutions (FIs) to provide access to
investors from all across the country on an equal footing. Based on the recommendations,
NSE was promoted by leading Financial Institutions at the behest of the Government of
India and was incorporated in November 1992 as a tax-paying company unlike other stock
exchanges in the counter On its recognition as a stock exchange under the Securities
Contracts (Regulation) Act, 1956 in April 1993, NSE commenced operations in the Wholesale
Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment
commenced operations in November 1994 and operations in Derivatives segment
commenced in June 2000.
Our Mission
NSE's mission is setting the agenda for change in the securities markets in India. The
NSE was set-up with the main objectives of:
Establishing a nation-wide trading facility for equities, debt instruments and hybrids,
Ensuring equal access to investors all over the country through an appropriate
communication network,
Providing a fair, efficient and transparent securities market to investors using

electronic trading systems,
Enabling shorter settlement cycles and book entry settlements systems, and Meeting
the current international standards of securities markets.

EQUITY INVESTMENT
The standards set by NSE in terms of market practices and technologies have
become industry benchmarks and are being emulated by other market participants. NSE is
more than a mere market facilitator. It's that force which is guiding the industry towards
new horizons and greater opportunities.

EQUITY INVESTMENT
CHAPTER-3
THEORITICAL REVIEW
AND
FRAME WORK

EQUITY INVESTMENT
Contents
Introduction, Scope and Methodology of the Review Process
 Introduction
 Research Definition
 Scope of Capital Market Research
 Period of Review
 Objective of Review
 The Survey Process
A review paper on research done in any field invariably presents considerable

difficulties. What comprises research? What should be the period of review? What should
be the objective of a review? How does one ensure the coverage is comprehensive? It is
clear that such questions as above are bound to generate varied answers. The difficulty of
the task increases manifold in Indian conditions where institutional addresses are difficult to
obtain at one place, ready bibliographies are rare, referencing in published research is
hardly comprehensive, and reprints are difficult to obtain. We would therefore begin by
briefly outlining the basis on which the review of research on Indian capital markets has
been done in this paper.
Research Definition
It is not our objective to debate about what kind of work can be regarded as
"research". For the purpose of the review, research has been defined as doctoral
dissertations, papers published in academic journals, books (including expository, but
excluding obviously popular books) and working papers or occasional unpublished papers
(where such information was available) on Indian capital markets. We have not reviewed
articles published in the popular media such as financial dailies, business magazines and
other popular magazines and journals. We have also excluded dissertations for masters

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degrees, reports of government committees or commissions, seminar and conference

papers. We have also largely excluded publications in foreign journals. It is possible that, in
the process, the list of works reviewed may have excluded some excellent works published
in popular media or included some sub-standard works published in academic journals. This
narrowing of the coverage of the review on the above lines became necessary when we
realized that it would be a truly Herculean task to include every kind of published and
unpublished work on the Indian capital markets in and outside India.
Scope of Capital Market Research
We were next faced with another difficult question about what can be classified as a
work on capital markets. A variety of work in economics, accounting and finance would have
some linkages with capital markets. Works in corporate finance have strong linkages with
security markets. For our purpose therefore, we considered works falling into any of the
following categories as those belonging to the field of capital markets: valuation of stocks
and functioning of the stock markets; valuation of bonds, convertible debentures and
market for debt; new issues market and merchant banking; market efficiency ; dividends,
bonus & rights issues and rates of return; and performance and regulations of mutual funds.
Period of Review
We have primarily reviewed work done in the fifteen years from 1977 to 1992. In
addition, some works published in 1993, which we could readily access while analyzing the
data collected for the earlier fifteen years, have also been reviewed. It was not considered
worthwhile to go further back in time because of two main reasons: a) the further one goes
back in time, the more difficult it becomes to access works done, b) the characteristics of
capital market in India have changed considerably and the market in the eighties and
nineties has little resemblance with the market in the sixties and early seventies. We chose
1977 as a cut-off year for a break from the past since it was this year in which the MNCs
operating in India were forced to dilute foreign holding under FERA. The dilution was
perhaps the genesis of the equity cult which gave a fillip to the Indian capital market.

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Objective of Review
Even this aspect of the review required resolution of some key issues. Should it
simply consist of annotated bibliographies of the research? Should it be a commentary on
the works done without drawing any inferences for the future, or should it be our
assessment about the emerging scenario in the Indian capital market based on the research
over the chosen period? We decided to provide a detailed bibliography at the end of the
paper and provide a commentary on the more serious works in the main body of the paper.
In several areas, particularly where there have been dramatic changes in the regulatory or
operating environment, we have also identified the kind of research that is needed.
The Survey Process
In order to ensure that the coverage was as exhaustive as possible, we wrote to

118 Indian university departments, institutes of management and other relevant
autonomous research institutions in October 1992, requesting them to send us a list along
with the abstracts of all the works (doctoral dissertations, published and unpublished papers
in academic journals and books) done in the field of capital market and financial services in
their department/institution. Financial services was included so as to ensure that areas such
as mutual funds and merchant banking were not excluded from the response. We did not
spell out any specific areas as we thought it best to let the respondents interpret research in
capital market and financial services in its widest possible sense. We exercised our judgment
on what work would qualify for inclusion under the area of capital market only after we
received the responses.
In the first round, we received responses only from 9 departments/institutions.

Subsequently, we sent three reminders, at intervals of one month each. The first reminder
brought in 18 more responses; the second brought in another 13 and the third reminder 13
more responses, bringing the total number of respondents to 53. However, of these, only 28
institutions reported that some research had been done in the field of capital market and
financial services by them.

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Simultaneously, we started a search in the library of the Indian Institute of

Management, Ahmedabad, for relevant information on research in Indian capital market.
We searched through the contents of all Indian journals which could contain papers on
capital markets and also located books listed in the library catalogue. The list of references
provided at the end of papers were another source of tracing the works done in the area. As
can be expected, we did face difficulties sometimes in locating papers because the
particular volume in which the paper had appeared was missing, or that some new journal
was not subscribet to by the library at all. Wherever we had information about the institute
affiliation of the author/s, we wrote to the institute for a copy of the work or at least an
abstract of the work.
The final list thus is the result of these two search procedures. However, despite our best
efforts, abstracts of all works could not be obtained or prepared. In such cases the works
have merely been listed in the bibliography and not commented upon in the paper.
The work compiled was categorized into six different areas and a detailed review of these is
presented in the following sections.
INVESTMENT OBJECTIVES
Return.
If it Investors always expect a good rate of return from their investments. Rate
of return could be defined as the total income the investor receives during the
holding period stated as a percentage of the purchasing price at the beginning of
the holding period. Rate of return is stated semi-annually or annually to help
comparison among the different investment alternatives. If it Investors always
expect a good rate of return from their investments. Rate
is a stock, the investor gets the dividend as well as the capital appreciation as
returns. Market return of the stock indicates the price appreciation for the
particular stock.

EQUITY INVESTMENT
o Risk
Risk of holding securities is related with the probability of actual becoming less than
the expected return. The word risk is synonymous with the phrase variability of
return. Investment’s risk is just as important as measuring its expected rate of
return because minimizing risk and maximizing the rate of return are interrelated
objectives investment the investment management. An investment whose rate of
return varies widely from period to period is risky than whose return that does not
change much. Every investor likes to reduce the risk of his investment by proper
combination of different securities.
o Safety
The selected investment avenue should be under the legal and regulatory frame
work. If it is not under the legal frame work, it is difficult to represent the
grievances, if any. Approval of the law itself adds a flavor of safety. Even though
approved by law, the safety of the principal differs from one mode of investment to
other. Investments done with the government assure more safety than with the
private party. From the safety point of view investments can be ranked as follows:
bank deposits, government bonds, UTI units, non convertible debentures,
convertible debentures, equity shares and deposits with the non-banking financial
companies.
INVESTMENT ALTERNATIVES
The problem of surplus gives rise to the question of where to invest. In the past,
investment avenues were limited to real assets, schemes of the post office and banks. At
present, a wide variety of investment avenues are open to the investors to suit their needs
and nature. Knowledge about the different avenues enables the investors to choose
investment intelligently. The required level of return and the risk tolerance level decide the
choice of the investor. The investment alternatives range from financial securities to
traditional non-security investments. The financial securities may be negotiable or non-
negotiable.

EQUITY INVESTMENT
Equity share
Equity shares are commonly referred to common stock or ordinary shares. Even
though the words shares and stocks are interchangeably used, there is a difference between
them. Equity shares have right to vote, right to control the management of the company
and right to share the profits in the form of dividends and bonus.
Preference shares
The characters of preference are hybrid in nature. Some of its features resembled
the bond and the others the equity shares. Like the bonds, their claims on the company’s
income are limited and they receive fixed dividend. The shareholders do not enjoy voting
powers except when any resolution affects their rights.
Debentures
According to company’s Act 1956 “debenture includes stock, bonds and any other
securities of company”. Debentures are generally issues by private sector companies as a
long term promissory notes for loan capital.
Government Securities
The securities issued by central, state government and quasi government agencies
are known as government securities or gilt edged securities. As government guaranteed
security is a claim on the government, it is a secured financial instrument, which guarantees
the income and the capital. The rate of interest on these securities is relatively lower
because of their high liquidity and safety.
Mutual Funds
Investment companies or investment trusts obtain funds from large number of

investors through sale of units. The funds collected from the investors are placed under
professional management for the benefit of the investors. The mutual funds are broadly
classified into open-ended scheme and close-ended scheme.

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Concepts of Equity:
Equity
A fund brought into a business by its shareholders is called equity. It is a measure of

a stake of a person or group of persons starting a business.
Investing in equity means
When you buy a company’s equity, you are in effect financing it, and being
compensated with a stake in the business. You become part-owner of the company,
entitled to dividends and other benefits that the company may announce, but without any
guarantee of a return on your investments.
Fundamental analysis
The analysis of factual information like financial figures, balance sheet, and other
information publicly available is known as fundamental analysis. This information is used to
derive a fair price of the share of the company. The faithful fundamentalists believe that
the market incorporates all facts relating to the financial performance of the company. But
systematic analysis will ensure more accurate valuation of the price. Fundamental analysts
use tools such as ratio analysis (P/E, MV/BV) and discounted cash flow analysis in order to
arrive at the fair value of a company and hence its share.
Basics of Equity market
Stock Exchange
A common platform where buyers and sellers come together to transact in stocks
and share. It may be a physical entity where brokers trade on a physical trading floor via an
“open outcry” system or a virtual environment.

EQUITY INVESTMENT
Electronic Trading
Electronic Trading eliminates the need for physical trading floors. Brokers can trade
from their offices, using fully automated screen-based processes. Their workstations are
connected to a Stock Exchange’s central computer via satellite using Very small Aperture
Terminus (VSATs). The orders placed by brokers reach the Exchange’s central computer and
are matched electronically.
Exchanges in India
The Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) are the
country’s two lading Exchanges. There are 20 other regional Exchanges, connected via the
Inter-Connected Stock Exchange (ICSE). The BSE and NSE allow nationwide trading via their
VSAT systems.
Index
An Index is a comprehensive measure if market trends, intended for investors who

are concerned with general stock market price movements. An Index comprises stocks that
have large liquidity and market capitalization. Each stock is given weight age in index
equivalent to its market capitalization. At the NSE, capitalization of NIFTY (fifty stocks) is
taken as a base capitalization, with the value set at 1000. Similarly, BSE Sensitive
Index/Sensex comprises 30 selected stocks. The Index value compares the day’s market
capitalization vis-à-vis base capitalization & indicates how prices in general have moved over
period of time.
Executing an order
Select broker of your choice and enter into broker-client agreement and fill in the
client registration form. Place your order with your broker preferably in writing. Get a
trade confirmation slip on the day the trade is executed and ask for the contract note at the
end of the trade date.

EQUITY INVESTMENT
Need of a broker
As per SEBI (Securities and Exchange Board of India) regulations, only registered
members can operate in the Stock market. One can trade by executing deal only through
registered broker of a recognized Stock Exchange or through SEBI-registered sub-broker.
Contract Note
A contract note describes the rate, date, time at which the trade was transacted and
the brokerage rate. Contract note issued in the prescribed format establishes legally
enforceable relationship between the client and the member in respect of trades stated in
the contract note. These are made in duplicate and the member and the client both each.
Client should receive the contract note within 24 hours of the executed trade.
Book-closure/record date
Book closure and record date help a company determine exactly the shareholders of
a company as on a given date. Book closure refers to the closing of register of the names or
investors in the records of company. Companies announce book closure dates from time to
time. The benefits of dividends, bonus issues, fights issue accruing to investors whose name
appears on the company’s records as on a given date, is known as the record date. An
investor might purchase a share-cum-dividend, cum rights or cum bonus and may therefore
expect to receive these benefits as the shareholder. In order to receive this, the share has
to be transferred in the investor’s name, or he would stand deprived of the benefits. The
buyer of such a share will be a loser. It is important for buyer of a share to ensure that
shares purchased at cum benefits prices are transferred before book-closure. It must be
ensured that the price paid for the shares is ex-benefit and not cum benefit.
Difference between book closure and record date
In case of record date, the company does not close its register of security holders.
Record date is the cut off date for determining the number of registered members who are
eligible for the corporate benefits. In case of book closure, share cannot be sold on an

EQUITY INVESTMENT
Exchange bearing a date on the transfer deed earlier than the book closure. This does not
hold good for the record date.
No-delivery period
Whenever a company announces a book closure or record date, the Exchange sets
up a no-delivery (ND) period for that security. During this period only trading is permitted in
the security. However, there trades are settled only after the no-delivery benefit is clearly
determined.
Ex-dividend date
The date on or after which a security begins trading without the dividend ( cash or
stock ) included in the contract price.
Ex-date
The first day of the no-delivery period is the ex-date. If there is any corporate benefits such
as rights, bonus, and dividend announced for which book closure or record date is fixed, the
buyer of the share on or after the ex-date will not be eligible for the benefits..
Bonus Issue
While investing in shares motive is not only capital gains but also proportionate
share of surplus generated from the operations once all other stakeholders have been paid.
But the distribution of this surplus to shareholders seldom happens. Instead, this is
transferred to the reserves and surplus account. If the reserves and surplus amount
becomes too large, the company may transfer some amount from the reserves account to
the share capital account by a mere book entry. This is done by increasing number of shares
outstanding and every shareholder is given bonus shares in a ration called the bonus ratio
and such an issue is called bonus issue. If the bonus ratio is 1:2, it means that for every two
share held; the shareholder is entitled to one extra share. So if a shareholder holds two
shares, post bonus he will told three.

EQUITY INVESTMENT
Split
Split is book entry where in the face value of the share is altered to create greater
number of shares outstanding without calling for fresh capital/altering the share capital
account. For example, if a company announces a two-way split, it means that share of the
face value of Rs 10 is split into two shares of face value of Rs 5 each and a person holding
one share now holds two shares.
Buy Back
As the name suggests, it is a process by which company can buy back its shares from
shareholders. Company may buy back shares in various ways: from existing shareholders on
a proportionate basis; through a tender offer from open market; through book-building
process; from the Stock Exchange; or from odd lot holders. Company cannot buy back
through negotiated deals on/off the Stock Exchange, through spot transactions or through
any private arrangement.
Settlement cycle
The accounting period for the securities traded on the Exchange. On the NSE, the
cycle begins on Wednesday and ends on the Tuesday, and on the BSE the cycle commences
on Monday and ends on Friday. At the end of this period, the obligations of each broker are
calculated and the brokers settle their respective obligations as per the rules, bye-laws and
regulations of the clearing corporation. If transaction is entered on the first day of the
settlement, the same will be settled on the eighth working day excluding the day of
transaction. However, if the same

EQUITY INVESTMENT
CHAPATYER -5
DATA ANALYSIS
AND
INTERPRETATIONS

EQUITY INVESTMENT
DATA ANALYSIS AND INTERPRETATION
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EQUITY INVESTMENT
INFOSYS CALUCATION ON MEAN
S.NO FUND NAME DATE RATE
1 EQUITY INVESTMENT 31-06-2013 728

2 EQUITY INVESTMENT 12/31/2013 871
9745
Mean(x‾)=∑x/n
9745\10= 974.5

EQUITY INVESTMENT
STANDARD DEVIATION:
S.NO FUND NAME DATE RATE(X) X-Xbar (X-Xbar)2

1 EQUITY INVESTMENT 30/06/2013 728 102 10444.84
2 EQUITY INVESTMENT 31/12/2013 871 56.2 3158.44
5 EQUITY INVESTMENT 30/06/2015 1065 -21.8 475.24
9745 40319.6
STDV=√∑(X-X)/n
=63.497716

EQUITY INVESTMENT
CALCULATION OF BETA :
R r r2 M m Rm r2m
S.N FUND DATE RAT R=(P1- r=(R-R) CNX M m=( Rm r2m

O NAME E(X) P0/P0)*1 R=8.288 IT M-
00 INDEX M)
M=5
.72
1 EQUITY 728 0 0 0 6400 0 0 0 0
INVESTM 30/06/
ENT 2013
2 EQUITY 871 25 17 27 8800 20. 15.0 251.696 4206.
INVESTM 31/12/ 9 8 6 6 4
ENT 2013
3 EQUITY 843 -5.65 -14 19 9750 0.3 - 74.9694 -1045
INVESTM 30/06/ 4 4 5.38 8
ENT 2014
4 EQUITY 971 5.069 -3.2 10 10690 5.1 - 1.89788 -
INVESTM 31/12/ 3 0.59 6.109
ENT 2014
5 EQUITY 1065 35.09 27 71 10900 21. 16.0 428.930 1149
INVESTM 30/06/ 8 7 1 4 5
ENT 2015
6 EQUITY 1104 9.416 1.1 1. 9764 10. 4.61 5.20452 5.868
INVESTM 31/12/ 3 3 6 6 5
ENT 2015
7 EQUITY 1077 2.967 -5.3 28 10600 0.9 -4.8 25.5527 -136
INVESTM 30/06/ 2 4
ENT 2016
8 EQUITY 986 -17.6 -26 66 9764 -6 - 302.359 -7821
INVESTM 31/12/ 9 11.7 7
ENT 2016
9 EQUITY 1065 23.78 15 24 9946 8.6 2.93 45.3851 702.9
INVESTM 30/06/ 0 5 3 3
ENT 2017
10 EQUITY 1035 4.802 -3.5 12 10900 - - 36.3448 -
INVESTM 31/12/ 4.7 10.4 126.7
ENT 2017
TOTAL 9745 82.85 8.3 69 57. 5.72 1172.34 7275.
2 6 1 3

EQUITY INVESTMENT
CALCULATION OF BETA VALUE
N=10
∑rm=1172.341
∑r=8.3
∑m=5.726
∑r2m=7275.3
β=( ((N*∑rm)-(∑r*∑m))/(N∑r2m-∑m))
= 0.160499
VARIANCE=√S.D
=7.9685
CO-VARIANCE=S.D/MEAN
=0.06515

EQUITY INVESTMENT
TCS CALCULATION MEAN
TCS
TOTAL 23779
Mean(x‾)=∑x/n
23779\10
=2377.9

EQUITY INVESTMENT
STANDARD DEVIATION
TCS
S.NO FUND NAME DATE RATE X-XBAR (X-XBAR)2
2 EQUITY INVESTMENT 31/12/2013 2110 2110 4452100
23779 54319685
2377.9
STDV=√∑(X-X)/n
2330.6583

EQUITY INVESTMENT
TCS CALCULATION OF BETA :

R r r2 M m Rm r2m
FUND DATE RAT R=(P1- r=(R- CNX M m=(M- Rm r2m
NAME E(X) P0/P0 R) IT M)
)*100 R=4.2 INDE M=5.7
84 X 2
EQUITY 30- 1780 0 0 0 6400 0 0 0 0
INVEST 06-
MENT 2013
EQUITY 31- 2110 18.53 14.25 203.2 8800 20. 15.06 214.6 3060.4
INVEST 12- 933 533 143 8 852 08
MENT 2013
EQUITY 30- 2440 15.63 15.63 244.6 9750 0.3 -5.38 - -
INVEST 06- 981 981 037 4 84.14 1315.9
MENT 2014 22 7
EQUITY 31- 2526 3.524 3.524 12.42 1069 5.1 -0.59 - -
INVEST 12- 59 59 274 0 3 2.079 7.3294
MENT 2014 51 1
EQUITY 30- 2512 - - 0.307 1090 21. 16.01 - 4.9179
INVEST 06- 0.554 0.554 177 0 7 8.873 12
MENT 2015 24 24 32
EQUITY 31- 2416 - - 14.60 9764 10. 4.616 - 67.416
INVEST 12- 3.821 3.821 505 3 17.64 93
MENT 2015 66 66 08
EQUITY 30- 2550 5.546 5.546 30.76 1060 0.9 -4.8 - -
INVEST 06- 358 358 208 0 2 26.62 147.65
MENT 2016 25 8
EQUITY 31- 2315 - - 84.92 9764 -6 -11.7 107.8 -
INVEST 12- 9.215 9.215 887 235 993.66
MENT 2016 69 69 8
EQUITY 30- 2500 7.991 7.991 63.86 9946 8.6 2.93 23.41 187.11
INVEST 06- 361 361 185 5 469 52
MENT 2017
EQUITY 31- 2630 5.2 5.2 27.04 1090 - -10.4 - -
INVEST 12- 0 4.7 54.08 281.21
MENT 2017 6
2377 42.84 38.56 57. 5.726 152.4 574.01
9 987 587 2 851 87

EQUITY INVESTMENT
N=10
∑rm=152.4851
∑r=38.56
∑m=5.726
∑r2m=574.0187
β=( ((N*∑rm)-(∑r*∑m))/(N∑r2m-∑m))
= 0.22740
VARIANCE=√S.D
=48.2768
CO-VARIANCE=S.D/MEAN =0.9801330

EQUITY INVESTMENT
WIPRO CALCULATION MEAN
S.NO FUND NAME Date Rate

2698
Mean(x‾)=∑x/n
2698\10
=269.8

EQUITY INVESTMENT
WIPRO CALCULATION STANDARD DEVIATION

1 EQUITY INVESTMENT 210 -59.8 3576.04
30/06/2013
2 EQUITY INVESTMENT 270 0.2 0.04
31/12/2013
3 EQUITY INVESTMENT 264 -5.8 33.64
30/06/2014
31/12/2014
30/06/2015
31/12/2015
30/06/2016
31/12/2016
30/06/2017
31/12/2017
2698 57376
STDV=√∑(X-X)/n
=75.746

EQUITY INVESTMENT
WIPRO CALCULATION OF BETA :
R R r2 M m Rm r2m
S. FUND DATE RATE( R=(P1- r=(R-R) CNX M m=(M Rm r2m
N NAME X) P0/P0) R=4.73 IT -M)
O *100 INDEX M=5.7
2
1 EQUITY 210 0 0 0 6400 0 0 0 0
INVEST 30/06/
MENT 2013
2 EQUITY 270 28.571 23.84 568. 8800 20.8 15.06 359. 8560.
INVEST 31/12/ 43 143 4137 0519 311
MENT 2013
3 EQUITY 264 - - 4.93 9750 0.34 -5.38 11.9 -
INVEST 30/06/ 2.2222 2.222 8272 5556 26.56
MENT 2014 2 22 79
4 EQUITY 275 4.1666 4.166 17.3 10690 5.13 -0.59 - -
INVEST 31/12/ 67 667 6111 2.45 10.24
MENT 2014 833 31
5 EQUITY 282 2.5454 2.545 6.47 10900 21.7 16.01 40.7 103.7
INVEST 30/06/ 55 455 9339 5273 342
MENT 2015
6 EQUITY 290 2.8368 2.836 8.04 9764 10.3 4.616 13.0 37.14
INVEST 31/12/ 79 879 7885 9504 904
MENT 2015
7 EQUITY 272 - - 38.5 10600 0.92 -4.8 29.7 -
INVEST 30/06/ 6.2069 6.206 2556 931 184.9
MENT 2016 9 23
8 EQUITY 238 -12.5 -12.5 156. 9764 -6 -11.7 146. -
INVEST 31/12/ 25 25 1828.
MENT 2016 13
9 EQUITY 282 18.487 18.48 341. 9946 8.65 2.93 54.1 1001.
INVEST 30/06/ 39 739 7838 6807 426
MENT 2017
1 EQUITY 315 11.702 11.70 136. 10900 -4.7 -10.4 - -
0 INVEST 31/12/ 13 213 9398 121. 1424.
MENT 2017 702 17
2698 47.380 42.65 57.2 5.726 530. 6228.
83 08 9059 588

EQUITY INVESTMENT
N=10
∑rm=6228.588
∑r=47.38
∑m=5.726
∑r2m=530.90
β=( ((N*∑rm)-(∑r*∑m))/(N∑r2m-∑m))
= 0.1169
VARIANCE=√S.D
=8.70
=0.280

EQUITY INVESTMENT
Tech mahindra
CALCULATION MEAN
S.NO FUND NAME Date Rate

4933
Mean(x‾)=∑x/n
4933\10
=493.3

EQUITY INVESTMENT
TECH MAHINDRA
STANDARD DEVIATION

1 -188.3 35456.89
EQUITY INVESTMENT 30/06/2013 305
2 -31.3 979.69
3 46.7 2180.89

4 154.7 23932.09
5 66.7 4448.89

6 32.7 1069.29

7 16.7 278.89
8 1.7 2.89

9 -111.3 12387.69
10 11.7 136.89
4933 80874.1
STDV=√∑(X-X)/n
89.9300

EQUITY INVESTMENT
R R r2 M m Rm r2m
S. FUND DATE RAT R=(P1- r=(R-R) CNX M m=(M- Rm r2m

NO NAME E(X) P0/P0) R=7.20 IT M)
*100 INDE M=5.72
X
1 EQUITY 0 0 0 6400 0 0 0 0
INVEST 30/06
MENT /2013 305
2 EQUITY 51.475 44.27 196 8800 20.8 15.06 666. 2952
INVEST 31/12 41 541 0.31 787 2.3
MENT /2013 462 2 7
3 EQUITY 16.883 9.62 285. 9750 0.34 -5.38 - -
INVEST 30/06 12 039 90.8 1533.
MENT /2014 540 6 312 51
4 EQUITY 20 12.8 400 1069 5.13 -0.59 - -236
INVEST 31/12 0 11.8
MENT /2014 648
5 EQUITY - -20.78 184. 1090 21.7 16.01 - 2952.
INVEST 30/06 13.580 423 0 217. 614
MENT /2015 560 2 1 42
6 EQUITY - -13.27 36.8 9764 10.3 4.616 - 170.1
INVEST 31/12 6.0714 622 28.0 561
MENT /2015 526 3 4 257
7 EQUITY - -10.24 9.25 1060 0.92 -4.8 14.6 -
INVEST 30/06 3.0418 27 0 007 44.41
MENT /2016 510 3 6 3
8 EQUITY - -10.14 8.65 9764 -6 -11.7 34.4 -
INVEST 31/12 2.9411 051 117 101.2
MENT /2016 495 8 9 6 11
9 EQUITY - -30.02 521. 9946 8.65 2.93 - 1526.
INVEST 30/06 22.828 130 66.8 912
MENT /2017 382 3 5 869
10 EQUITY 32.198 24.99 103 1090 -4.7 -10.4 - -
INVEST 31/12 95 8 6.77 0 334. 1078
MENT /2017 505 3 869 2.4
72.094 - 57.2 5.726 957 1171
52 37.03 22.2 96.7
4933 2 9

EQUITY INVESTMENT
N=10
∑rm=95722.29
∑r=-37.03
∑m=5.726
∑r2m=117196.7
β=( ((N*∑rm)-(∑r*∑m))/(N∑r2m-∑m))
= 0.8169
VARIANCE=√S.D
=9.48
=0.18

EQUITY INVESTMENT
HCL TECH
CALCULATION MEAN

8067
Mean(x‾)=∑x/n
=806.7

EQUITY INVESTMENT
HCL TECH STANDARD DEVIATION
1 EQUITYINVESTMENT 659 -147.7 21815.29

30/06/2013
31/12/2013
30/06/2014
31/12/2014
5 EQUITYINVESTMENT 950 143.3 20534.89
30/06/2015
31/12/2015
30/06/2016
31/12/2016
30/06/2017
31/12/2017
8067 -4.54747E-13 92408.1
STDV=√∑(X-X)/n
=96.129

EQUITY INVESTMENT
R R r2 M m Rm r2m
S. FUND DATE NA R=(P1- r=(R-R) CNX IT M m=(M- Rm r2m
N NAME V(X P0/P0)*1 R=3.73 INDEX M)
O ) 00 M=5.72
1 HCL 30/06/2 65 0 0 0 6400 0 0 0 0
TECH 013 9
2 HCL 63 -4.40061 - 66.1 8800 20. 15.06 - 995.
TECH 31/12/2 0 8.13 067 8 122. 568
013 061 7 447
3 HCL 79 26.6666 22.9 526. 9750 0.3 -5.38 - -
TECH 30/06/2 8 7 366 090 4 123. 283
014 7 7 399 0.37
4 HCL 78 -2.25564 - 35.8 10690 5.1 -0.59 3.53 -
TECH 31/12/2 0 5.98 278 3 152 21.1
014 564 8 7 384
5 HCL 95 21.7948 18.0 326. 10900 21. 16.01 289. 522
TECH 30/06/2 0 7 648 339 7 218 4.69
015 7 6 6 7
6 HCL 86 -9.47368 - 174. 9764 10. 4.616 - 804.
TECH 31/12/2 0 13.2 337 3 60.9 740
015 037 3 482 9
7 HCL 78 -9.30233 - 169. 10600 0.9 -4.8 62.5 -
TECH 30/06/2 0 13.0 841 2 551 815.
016 323 5 6 239
8 HCL 83 6.41025 2.68 7.18 9764 -6 -11.7 - -
TECH 31/12/2 0 6 025 377 31.3 84.0
016 6 4 59 502
9 HCL 88 6.50602 2.77 7.70 9946 8.6 2.93 8.13 22.5
TECH 30/06/2 4 4 602 631 5 375 794
017 4 1 9
10 HCL 89 1.35746 - 5.62 10900 - -10.4 24.6 -
TECH 31/12/2 6 6 2.37 891 4.7 743 58.5
017 253 7 5 407
80 37.3030 3.73 57. 5.726 49.9 323
67 3 302 2 599 8.24
9 8 9

EQUITY INVESTMENT
N=10
∑rm=49.95
∑r=3.73
∑m=5.726
∑r2m=3238.24
β=( ((N*∑rm)-(∑r*∑m))/(N∑r2m-∑m))
= 0.01467
VARIANCE=√S.D
=9.8045
=0.119163

EQUITY INVESTMENT
INTERPRETATION:
RATE VALUE for period from

2013-2017
SCRIP NAME MEAN STDEV BETA VARIANCE CO-VARIANCE
INFOSIS 974.5 63.497 0.1604 7.9685 0.065
TCS 2377.9 2330.65 0.22740 48.27 0.9801
WIPRO 269.8 75.746 0.1169 8.70 0.280
TECH 493.3 89.93 0.8169 9.48 0.18

MAHINDRA
HCL 806.7 96.129 0.014 9.8045 0.1191

EQUITY INVESTMENT
CHPTER -6
FINDINGS
&
SUGGESTIONS
&
CONCLUSION
&
BIBLIOGRAPHY

EQUITY INVESTMENT
FINDINGS:
MEAN:
 From the interpretation table average of INFOSYS EQUITY INVESTMENT from

2013-2017 is more i.e. 2377 Than compare to HCL TECH EQUITY INVESTMENT ,TCL
EQUITY INVESTMENT , WIPRO EQUITY INVESTMENT AND TECH MAHINDRA EQUITY
INVESTMENT.
 Also less average return is given by WIPRO EQUITY INVESTMENT i.e. 269.8.
STANDARD DEVIATION:
 Here has been evaluate the exact mean of the returns.
 Highest STDEV is 2330.65i.e. TCS, and less STDEV is 75.746 i.e. (WIPRO). than having
has shown more volatility in it's growth.
ß - VALUE
 The RATE (net asset value )of all EQUITY INVESTMENT are fluctuated to based on or
compared to BSE INDEX value. Based on INDEX value of EQUITY INVESTMENT the
investors may invest their investment
VARIANCE
 Highest variance is 48.27 i.e TCS and less variance is 7.96 i.e INFOSYS than INFOSYS
having has shown more volatility in it's growth.
Co-VARIANCE
 Highest variance is 0.9801 i.e TCS and less co-variance is 0.065 i.e INFOSYS Than
infosys having has shown more volatility in it's growth.

EQUITY INVESTMENT
SUGGESTIONS
 Most of the investors are new to the stock market; the investors should have a
proper guidance of well experienced Broker, the investors should use the analysis
and reports given by the broker.
 The brokerage firm should assess the individual company’s reports and give proper
suggestions as most of the investors are referring to individual company reports. In
quarterly halferly and annually.
 Pre budget and post budget reports (quartly)indivual comp sectors vise
 It is better to know some ting about the predation of markets in bulls and bears say
 Investment into pms, Arbitration ,speculation, hedging methodology in equities
&derivaties (f&o)
 Timely check of portfolio in fornights and monthly reports of debit and credits of
individual a/c say p&l a/c ledger a/c with ngrip.nsbl.co.in,ngrip.shiram insight share
broking .com(back office support client a/c)
 It is better to maintain online a/c portfolio for time saving,safity and covience to
update our self better in give market .(intradays &delivery)
 Its is always better to take delivery stocks rather than in intradays speculation.The
investors have to diversify their investment into other sectors rather than investing
in particular sector IT & Banking. Diversification is more beneficial.

EQUITY INVESTMENT
CONCLUSION
There are several investments to choose from these include equities, debt, real estate and
gold. Each class of assets has its peculiarities. At any instant, some of those assets will offer
good returns, while others will be losers. Most investors in search of extraordinary
investments try hard to find a single asset. Some look for the next shriram insight , other
buys real estate or gold. Many of them deposit their savings in the Public Provident Fund
(PPF) or post office deposits, others plump for debt mutual funds. Very few buy across all
asset classes or diversify within an asset class. Therefore it has been widely said that “Don’t
put all your eggs in one basket”. The idea is to create a portfolio that includes multiple
investments in order to reduce risk.
Things changed in early may 2017 since then the stock market moved up more than 70%,
while many stocks have moved more. Real estate prices are also swinging up, although it is
difficult to map in this fragmented market. Gold and Silver prices have spurted.

EQUITY INVESTMENT
IBLIOGRAPHY
www.googles
www.shriram insight.com
www.nse.com
www.bse.com
http://investmentfunds.com

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EQUITY INVESTMENT

SANSKRITHI SCHOOL OF BUSINESS Page 1

INTRODUCTION OF THE STUDY:

SANSKRITHI SCHOOL OF BUSINESS Page 2

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NEEDS AND IMPORTANCE OF STUDY

A calculation can be made to assess whether an equity is over or underpriced compared

SANSKRITHI SCHOOL OF BUSINESS Page 4

OBJECTIVE OF THE STUDY

 To analyze risk and return of equity share of industry

SANSKRITHI SCHOOL OF BUSINESS Page 5

SCOPE OF THE STUDY

The study is conducted to understand the investment of the investors in equity

SANSKRITHI SCHOOL OF BUSINESS Page 6

LIMITATIONS OF THE STUDY

 The study is taken up at Anantapur branch only.

SANSKRITHI SCHOOL OF BUSINESS Page 7

Objective & Literature study.

The data is collected from two sources

SANSKRITHI SCHOOL OF BUSINESS Page 8

TOOL USED IN THIS PROJECT

SANSKRITHI SCHOOL OF BUSINESS Page 9

SANSKRITHI SCHOOL OF BUSINESS Page 10

SHRIRAM INSIGHT SHARE BROKERS LTD

Leading Retail Stock Broking firm with FOCUSED APPROACH

Comprehensive Service Offerings

SANSKRITHI SCHOOL OF BUSINESS Page 11

distribution of financial products, to comprehensively service the investment needs of its

Strong Management Team

Genesis of the Shriram phenomenon

The Shriram Way!

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SANSKRITHI SCHOOL OF BUSINESS Page 13

 Best in your class

 Passionate about proving your mettle

 Willing to work hard

 Share our dream

SANSKRITHI SCHOOL OF BUSINESS Page 14

SANSKRITHI SCHOOL OF BUSINESS Page 15

Providing a fair, efficient and transparent securities market to investors using

SANSKRITHI SCHOOL OF BUSINESS Page 16

SANSKRITHI SCHOOL OF BUSINESS Page 17

SANSKRITHI SCHOOL OF BUSINESS Page 18

Introduction, Scope and Methodology of the Review Process

 Scope of Capital Market Research

 The Survey Process

A review paper on research done in any field invariably presents considerable

SANSKRITHI SCHOOL OF BUSINESS Page 19

degrees, reports of government committees or commissions, seminar and conference

Scope of Capital Market Research

SANSKRITHI SCHOOL OF BUSINESS Page 20

The Survey Process

In order to ensure that the coverage was as exhaustive as possible, we wrote to

In the first round, we received responses only from 9 departments/institutions.

SANSKRITHI SCHOOL OF BUSINESS Page 21

Simultaneously, we started a search in the library of the Indian Institute of

SANSKRITHI SCHOOL OF BUSINESS Page 22

SANSKRITHI SCHOOL OF BUSINESS Page 23

Investment companies or investment trusts obtain funds from large number of

SANSKRITHI SCHOOL OF BUSINESS Page 24

A fund brought into a business by its shareholders is called equity. It is a measure of

Investing in equity means

Basics of Equity market

SANSKRITHI SCHOOL OF BUSINESS Page 25