CHAPTER-1

1.1 INTRODUCTION
MEANING OF MONEY MARKET: Money market refers to the market where money and highly liquid marketable securities are bought and sold having a maturity period of one or less than one year. It is not a place like the stock market but an activity conducted by telephone. The money market constitutes a very important segment of the Indian financial system. The highly liquid marketable securities are also called as money market instruments like treasury bills, government securities, commercial paper, certificates of deposit, call money, repurchase agreements etc. The major player in the money market are Reserve Bank of India (RBI), Discount and Finance House of India (DFHI), banks, financial institutions, mutual funds, government, big corporate houses. The basic aim of dealing in money market instruments is to fill the gap of short-term liquidity problems or to deploy the short-term surplus to gain income on that.and other institutions and individuals are bid by borrowers agents comprising institutions and individuals and also the government itself. According to the Geoffrey, money market is the collective name given to the various firms and institutions that deal in the various grades of the near money. The money market is a subsection of the fixed income market. We generally think of the term fixed income as being synonymous to bonds. In reality, a bond is just one type of fixed income security. The difference between the money market and the bond market is that the money market specializes in very short-term debt securities (debt that matures in less than one year). Money market investments are also called cash investments because of their short maturities. Money market securities are essentially IOUs issued by governments, financial institutions and large corporations. These instruments are very liquid and

Considered extraordinarily safe. Because they are extremely conservative, money market securities offer significantly lower returns than most other securities. One of the main differences between the money market and the stock market is that most money market securities trade in very high denominations. This limits access for the individual investor. Furthermore, the money market is a dealer market, which means that firms buy and sell securities in their own accounts, at their own risk. Compare this to the stock market where a broker receives commission to acts as an agent, while the investor takes the risk of holding the stock. Another characteristic of a dealer market is the lack of a central trading floor or exchange. Deals are transacted over the phone or through electronic systems.

1.2

OBJECTIVE OF THE STUDY

The following are the important objectives of a money market: To find the market potential and market penetration of Reliance Securities. To collect the real time information about preference level of customers. To expand the market penetration of Reliance Securities. To provide pricing strategy of competitors to fight cut throat competition. To increase the product awareness of Reliance Securities

1.3 NEED OF THE STUDY

Money market is an important source of financing for trade and industry. The Short-term finances are made available through bills, commercial papers; etc. The happenings in the money market influence the availability of finance Both for the

national and international trade. Besides trade and industry, Money market offers to the government an important non-

inflationary avenue of raising short-term funds through bills that are subscribed by commercial Banks and the public. money market offers an ideal source of investment for the commercial Banks. The market

helps them invest their short-term surplus funds so as to Meet statutory reserve requirements. For instance, the requirements of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) vary every.

1.4 SCOPE OF THE STUDY

market. It is a market dealing with short term funds or financial assets. These financial assests have a maturity period of upto one year. Financial assets can be easily converted into cash. It consists of various sub markets like call money market, bill market etc. Central Bank, Commercial Bank, Financial institution are main constituents of money

1.5 LIMITATIONS
High Balance Requirement in Financial institutions require account holders to maintain a minimum balance in their money market accounts. Limited Number of With drawals and Transfers Most money market accounts allow only a limited number of monthly withdrawals and transfers as per federal banking regulations. This poses an inconvenience to a customer who needs to make an emergency withdrawal that will exceed the number of withdrawals permitted. Interest Rate Fluctuation and Other Fees are variable and fluctuating interest rate applies on a money market account. The interest rate depends on changes in the overall market interest rates. Banks and other depository institutions offering money market accounts establish fees for account maintenance, transactions and other financial services -- which reduce the value of the account

CHAPTER-2

2.1 RESEARCH METHODOLOGY

Two broad research methodologies can be used to answer any research question. They areExperimental research and Non experimental research. In experimental research, there is control over the extraneous variables and manipulation of at least one variable by the investigator. In Non experimental research, there is no intervention beyond that needed for the purposes of measurement. The study uses Non experimental research method. DEFINITION: Procedures used in making systematic observations or otherwise obtaining data, evidence, or information as part of a research project or study 1. Is being undertaken within a framework of a set of philosophies (approaches); 2. Uses procedures, methods and techniques that have been tested for their Validity and reliability; 3. Is designed to be unbiased and objective. 2.1 Sources of data: 1. Primary data 2. Secondary data (ANALYSING THE DATA HDFC,AXIS MONEY MARKET SCRIPS) 2.1.1 PRIMARY DATA: Primary Data: Primary data is on which is collected by the investigator himself for the purpose of a specific enquiry or the study

2.1.2 SECONDARY DATA: Survey is most commonly used method in social sciences, management, marketing and psychology to some extent. Surveys can be conducted in different methods. www.Nse india.com, www.bseindia.com www.yahoofinance.com 2.2 TOOLS FOR ANALYSIS: Returns (bank stocks) = current price-previous price Previous price MEAN: The simple mathematical average of a set of two or more numbers. The mean for a given set of numbers can be computed in more than one way, Mean: X/N VARIANCE: A measure of the dispersion of a set of data points around their mean value. Variance is a mathematical expectation of the average squared deviations from the mean. (X-XBAR)2 100

Standard deviation:
A measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance.
=

CHAPTER-3

REVIEW OF LITERATURE 3.1. INTRODUCTION

Billions of dollars in payments are made and received daily. Every user of the financial system ends the day with either a debit or credit in their account. Every debit has to be covered by borrowing, and every credit wants a return. The key purpose of the interbank deposit market the money market is to offset the payments system. When customers deposit money, the bank will want a return on that money; so it will lend the money to other customers or banks using the short-term money market (maturities of one day to one year). This tutorial looks at ways to fund short-term borrowing and lending requirements, the participants in the money market, and the main instruments available. 3.2 MEANING A segment of the financial market in which financial instruments with high liquidity and very short maturities are traded. The money market is used by participants as a means for borrowing and lending in the short term, from several days to just under a year. Money market securities consist of negotiable certificates of deposit (CDs), bankers acceptances, U.S. Treasury bills, commercial paper, municipal notes, federal funds and repurchase agreements (repos).

3.3 DEFINITION
A segment of the financial market in which financial instruments with high liquidity and very short maturities are traded. The money market is used by participants as a means for borrowing and lending in the short term, from several days to just under a year. Money market securities consist of negotiable certificates of deposit (CDs), bankers acceptances, U.S. Treasury bills, commercial paper, municipal notes, federal funds and repurchase agreements (repos).

3.4 CHARACTERISTICS
Encourages economic growth If the money market is well organized, it safeguards the liquidity and safety of financial asset This encourages the twin functions of economic growth, savings and investments. Help to government The organized money market helps the government of a country to borrow funds through the sale of Treasury bills at low rate of interest The government thus would not go for deficit financing through the printing of notes and issuing of more money which generally leads to rise in an increase in general prices. Proper allocation of resources In the money market, the demand for and supply of loan able funds are brought at equilibrium The savings of the community are converted into investment which leads to pro allocation of resources in the country.

3.5 ADVANTAGES
The money market provides opportunities for individuals in short-term, relatively low-yield investments such as treasury bills and other similar types of investments. Many beginning investors onuse money markets as a way to experience investing and transition into the stock market. However, the money market has many advantages for a lot of individuals aside from beginning investors. LIQUIDITY Liquidity is an advantage of money market accounts that other investment vehicles, such as certificates of deposit, typically do not have. Liquidity refers to the ease with which you can withdraw funds from your money market account. Unlike CDs and other investment vehicles, money market accounts usually have now waiting period in order to withdraw cash. In fact, some brokerage firms that offer money market accounts also give account checkbooks. SAFETY Money market accounts are one of the safest investment vehicles in which to earn money. Many people use money market accounts to produce returns during a downturn in the stock market and as an assurance that at least some of their money is growing at a steady pace. Despite the fact that money market accounts only have around a 3 to 5 percent average annual rate of return, money markets are very safe and there has only been one historical occurrence of money market losses according to Jim Stack, president of InvesTech Research and a Forbes.com contributor. Easy Access Money market funds allow easy access by individuals, which is an advantage of these investment vehicles over the stock market, options trading and other investments. Money market accounts can typically be created through a local bank or financial institution and usually have no minimum balance requirements; tools such as secure online banking may also be given to investors.

3.6 DISADVANTAGES
In the amazing range of choices available to a potential investor today, money market funds stand out as safe and secure options offering high liquidity and moderate to low returns on investment. If the investor is not too aggressive in seeking very high returns from his investment, then a money market fund is a good mutual fund in which to park his surplus funds for some time. But like every good thing, a money market fund also has certain drawbacks, and one should be fully aware of these demerits and invest accordingly, after making allowances for those disadvantages. Let us look into three such disadvantages and explain some steps one can take to balance these disadvantages while investing in money market funds. LOW TRANSACTION LIMITS Money market funds permit very few free transactions per month, so that the funds can be invested in higher tenure papers and thereby earn higher interest for the investor. For instance, most money market funds allow only 3 to 5 checks to be issued per month, beyond which charges could be levied. LOW INTEREST RATES When compared to other market linked investments or even term deposits or government securities, many money market funds offer much lower interests, since their main priority is to preserve the capital and maintain the net asset value. HIGH FEES
Unlike many savings and checking accounts which have the option of negotiation for getting a charge free product, most money market funds have high annual fees which eat away a large portion of your investment upfront. The solution to this is to scout around for the fund which offers the best rate, so that the impact of the annual fees can be reduced.

3.7 STRUCTURE OF MONEY MARKET

The Indian money market is divided into two parts namely organized and unorganized. The organized sector consists of The Reserve Bank of India, Foreign Banks, Commercial Banks, Cooperative banks, Discount and Finance House of India, Mutual funds and finance Companies. The Unorganized sector consists of indigenous bankers, money lenders, non-banking financial intermediaries like chit funds, nidhis etc. this sector is a heterogeneous sector. The organized sector of money market is well advanced. Its principal centers are Mumbai, Kolkata, Delhi, Chennai, Ahmadabad, and Bangalore. Of these centres the Mumbai centre is most active one ORGANIZED MONEY MARKET The RBI is the apex institution which controls and monitors all the organizations in the organized sector. The commercial banks can operate as lenders and operators. The FIs like IDBI, ICICI, and others operate as lenders. The organized sector of Indian money market is fairly developed and organised, but it is not comparable to the money markets of developed countries like USA, UK and Japan. Reserve Bank of India

Reserve Bank of India is the regulator over the money market in India. As the Central bank, it injects liquidity in the banking system, when it is deficient and contracts the same in opposite situation. Commercial Banks

Commercial Banks and the CO-operative banks are the major participants in the Indian money market. They mobilize the savings of the people through acceptance of deposits and lend it to business houses for their short term working capital requirements. While a portion of these deposits is invested in medium and long-term Government securities and corporate shares and bonds, they provide short-

Term funds to the Government by investing in the Treasury Bills. They employ the short-term surpluses in various money market instruments. Companies create demand for funds from the banking system. They raise short-term funds directly from the money market by issuing commercial paper. Moreover, they accept public deposits and also indulge in interoperate deposits and investments. Mutual Funds

Mutual funds also invest their surplus funds in various~ money market instruments for short periods. They are also permitted to participate in the Call Money Market. Money Market Mutual Funds have been set up specifically for the purpose of mobilization of short-term funds for investment in money market instruments. UNORGANISED MONEY MARKET The unorganized money market mostly finances short term financial needs of farmers and small businessmen. The main constituents of unorganized Money market are: INDIGENOUS BANKERS (IBS)

The IBs are individuals or private firms who receive deposits and give loans and thereby they operate as banks. Unlike moneylenders who only lend money, IBs accept deposits as well as lend money. They operate mostly in urban areas, especially in western and southern regions of the country. Over the years, IBs faced stiff competition from cooperative banks and commercial banks. Borrowers are small manufacturers and traders, who may not be able to obtain funds from the organized banking sector, may be due to lack of security or some other reason. MONEY LENDERS (MLS)

MLs are important participants in unorganized money markets in India. There are professional as well as non professional MLs. They lend money in rural areas as well as urban areas. They normally charge an invariably high rate of interest ranging between 15% p.a. to 50% p.a. and even more. The borrowers are mostly poor farmers, artisans, petty traders, manual workers and others who require short term funds and do not get the same from organised sector.

Chit Funds and Nidhis

They collect funds from the members for the purpose of lending to members (who are in need of funds) for personal or other purposes. The chit funds lend money to its members by draw of chits or lots, whereas Nidhis lend money to its members and others. Finance Brokers

They act as middlemen between lenders and borrowers. They charge commission for their services. They are found mostly in urban markets, especially in cloth markets and commodity markets. Finance Companies

They operate throughout the country. They borrow or accept deposits and lend them to others. They provide funds to small traders and others. They operate like indigenous bankers. SUB MARKET (INSTRUMENTS): INSTRUMENTS Traditionally when a borrower takes a loan from a lender, he enters into an agreement with the lender specifying when he would repay the loan and what return (interest) he would provide the lender for providing the loan. This entire structure can be converted into a form wherein the loan can be made tradable by converting it into smaller units with pro rata allocation of interest and principal. This tradable form of the loan is termed as a debt instrument. Therefore, debt instruments are basically obligations undertaken by the issuer of the instrument as regards certain future cash flows representing interest and principal, which the issuer would pay to the legal owner of the instrument. Debt instruments are of various types. The key terms that distinguish one debt instrument from another are as follows: Issuer of the instrument Face value of the instrument Interest rate

 Repayment terms (and therefore maturity period/tenor)

MONEY MARKET INSTRUMENTS By convention, the term "money market" refers to the market for short-term requirement and deployment of funds. Money market instruments are those instruments, which have a maturity period of less than one year. The most active part of the money market is the market for overnight and term money between banks and institutions (called call money) and the market for repo transactions. The former is in the form of loans and the latter are sale and bu back agreements both are obviously not traded. The main traded instruments are commercial papers (CPs), certificates of deposit (CDs) and treasury bills (T-Bills). All of these are discounted instruments ie they are issued at a discount to their maturity value and the difference between the issuing price and the maturity/face value is the implicit interest. These are also completely unsecured instruments. One of the important features of money market instruments is their high liquidity and tradability. A key reason for this is that these instruments are transferred by endorsement and delivery and there is no stamp duty or any other transfer fee levied when the instrument changes hands. Another important feature is that there is no tax deducted at source from the interest component. A brief description of these instruments is as follows:

3.8 TYPES OF MONEY MARKET:

Certificate of Deposit Commercial Papers, Treasury Bills, Ready Forward Contracts (Repos) Money Market Mutual Funds (MMFS)

Certificates of Deposits: These are issued according to the guidelines of the Reserve Bank of India in dematerialized form or Usance Promissory Note for the fund deposited at a bank or other financial institution. It is a negotiable money market instrument whose minimum deposit should be Rs.1 lakh and the multiples of Rs. 1 lkh thereafter. The maturity period of Certificates of Deposits should not be less than 15 days and not more than 1 year. But, it should not be less than 1 year and exceed 3 years for financial institution. Commercial Papers (CP): It is an additional unsecured money market instrument to the investors as a source of short term borrowing. This instrument is issued in the form of a promissory note or dematerialized form. Every issuer has to appoint an Issuing and Paying Agent (IPA) for the issue of commercial papers and only a scheduled bank can act as an IPA for issuance of CP. The investor are given the Issuing and Paying Agent (IPA) certificate as well as issued physical certificates or arrangement is made for crediting the CP to the investors account with a depository. The CP issued for a maturity period between a minimum of 7 days and a maximum up to one year from the date of issue in the denomination of Rs. 5 lakh or multiples thereof. The main purposes of introducing CP are

To enable the high level corporate borrowers such as leasing and financing of companies, manufacturing and financial institutions etc. To diversify the sources of short term borrowing To provide instrument for bank and financial institution in the money market. Treasury Bills: Treasury Bills are discounted securities issued at a discount face value as per the short term requirement of the Government of India. RBI issues Treasury Bills on a prefixed day and at a fixed amount. There are four types of Treasury Bills: a. 14-day Tbill maturity is in 14 days. b. 91-day Tbill maturity is in 91 days. c. 182-day Tbill maturity is in 182 days. d. 364-day Tbill maturity is in 354 days. These are highly liquid money market instruments. It is a zero default risk bearing paper. It helps in deployment of idle funds for very shorts periods as well. Repo Market: This money market instrument helps in collateralized short- term borrowing and lending through sale or purchase operation in debt instruments. Here the securities are sold by the holders to the investors with an agreement to repurchase them at a predetermined rate and date. On the other hand, under the reverse repo transactions, securities are purchased with a simultaneous commitment to resell at a predetermined rate and date. Money Market Mutual Funds (MMMFs): To provide safety, liquidity and return, MMMFs are formed which collect the small savings of a large number of savers and invest them in the capital market. This concept is extended to money market. Hence, the concept of money market mutual funds has coming up. The SEBI revises the guidelines on MMMFs from time to time relating to maximum limit of investment

3.9 MONEY MARKETS LEVELS:

We have updated our original analysis from the beginning of the year that looked at the amount of un-invested cash on the sidelines in money market funds to the current value of the stock market (see our article, Ample funds on the sidelines to support a good 2013 for markets) and have found that money market levels have now normalized and are below median values as we approach March 2013, which may make incremental stock gains harder to come by. Whilst money market levels are not near record lows, which would be flashing a warning sign to sell stocks, the now lower level of money funds may mean that market gains will be muted in the medium term. The ratio, as outlined in the chart above, looks at the level of un-invested money market funds to the market cap of the S&P 500 in an annual time series from 1992. When we first introduced this analysis at the beginning of 2013, money fund level represented 21% of the value of the S&P, still above the median value over the past 21 years. A high ratio for this metric means that there is a lot of money still on the sidelines that could come into stocks. A lower value could mean that there is less incremental money to be invested into stocks; this could represent muted gains or declines for equities going forward.In our most updated tally of this analysis through the end of February 2013, now including the almost 5% gain year-to-date in the S&P, money market levels are now below their 22 year median value. At 17% of the value of the S&P, money funds are below the median of 18% in the time series, and also below the average long-term level of 21%. Whilst money fund levels are not near the lows of 13% of the value of the S&P 500 seen in 1999 (which was a signal to sell stocks ahead of the Bear market of 2000-2002), we are pointing out that incremental uninvested money market levels are now below median levels which may mean muted gains or slight declines for stocks in the intermediate term. Thus, leading exchange traded funds that proxy the stock market may not perform as well as they have done in the recent run up in stocks; this includes the iShares Russell 3000 Stock Index exchange traded fund (IWV), the Vanguard Total Stock Market exchange traded fund (VTI), and the iShares Core S&P 500 exchange traded fund (IVV).

3.10 LEARNING OF MONEY MARKETS IN AN ORGANIZATION:

Money at Call and Short Notice: Call money or call deposits are that money which is lent on condition to repay on call. Notice money refers to the money lent and repaid on a certain days notice from the lenders. Banks borrow for a variety of reasons to maintain their cash reserve ratio, heavy payments, to maturity mismatch etc. Money at short notice is for a maturity upto 14 days. The main participants are banks and all India financial institutions as permitted by RBI. Minimum size of Rs. 20 crores for each transaction was permitting the participation of the corporate in the call money market. The Discount and Finance House of India (DFHI) enhanced the activity of Call Money Market and Short-term Deposit Market. It allows lending and borrowing of funds. The borrowers are essentially the banks. It can operate outside the purview of the provision of the ceiling rates fixed by the Indian Banks Association. The different participants that lend fund in the market are like GIC, IDBI, NABARD etc. The private Mutual funds were also participating in the market. The DFHI ascertains the settlement between the lender and the borrower about the availability of fund and the amount needed and the exchanges. It also provides advice regarding the interest rates applicable to them. Here, the call rates are more volatile as they are determined by the interaction of demand and supply of funds in the market which is based on the maintenance of Cash Reserve Ratio by the banks. There are two call rates maintained in India i.e. Inter-bank call rate and the lending rate of DFHI. Bills Rediscounting Scheme: This is a money market scheme whereby banks may raise funds by issue of usance from issuing notes in convenient lots and maturities matching the genuine trade bills discounted by them. This instrument promotes liquidity in the market. Here the seller draws a bill of exchange and the buyer accepts it. Suppose, When X sells on credit and X (seller) needs money in the meantime, it may approach to the bank for discounting the bill and the seller get the money. Now, the bank which has discounted the bill may require getting it rediscounted with some other bank to get the fund. This is called bill rediscounting. The bank has a facility to rediscount the bills with the RBI and other approved institutions like LIC, GIC, UTI, ICICI etc

Inter-Bank Participation Certificate: Inter-Bank Participation Certificates are instruments issued by scheduled commercial banks only to raise funds or to deploy short term surplus. This instrument is issued as per RBI guidelines for two purposes: a. on risk sharing basis b. without risk sharing Inter-Bank Participation without risk sharing can have tenure of 90 days only where, the issuing bank as borrowing and the participating bank advances to the banks. In case of risk sharing basis, the lender bank shares losses with the borrowing banks by mutually determining the interest rate. The tenure may be for 90 to 180 days. 5. Money Market Mutual Funds (MMMFs): To provide safety, liquidity and return, MMMFs are formed which collect the small savings of a large number of savers and invest them in the capital market. This concept is extended to money market. Hence, the concept of money market mutual funds has coming up. The SEBI revises the guidelines on MMMFs from time to time relating to maximum limit of investment. Treasury Bills: Treasury Bills are discounted securities issued at a discount face value as per the short term requirement of the Government of India. RBI issues Treasury Bills on a prefixed day and at a fixed amount. There are four types of Treasury Bills: a. 14-day Tbill maturity is in 14 days. b. 91-day Tbill maturity is in 91 days. c. 182-day Tbill maturity is in 182 days. d. 364-day Tbill maturity is in 354 days. These are highly liquid money market instruments. It is a zero default risk bearing paper. It helps in deployment of idle funds for very shorts periods as well.

CHAPTER-4

4.1 INTRODUCTION
Reliance Capital Limited (RCL) was incorporated in year 1986 at Ahmadabad in Gujarat as Reliance Capital & Finance Trust Limited. The name RCL came into effect from January 5, 1995. In 2002, RCL shifted its registered office to Jamnagar in Gujarat before it finally moved to Mumbai in Maharashtra, in 2006.In 2006, Reliance Capital Ventures Limited merged with RCL and with this merger the shareholder base of RCL rose from 0.15 million shareholders to 1.3 million. RCL entered the Capital Market with a maiden public issue in 1990 and in subsequent years further tapped the capital market through rights issue and public issues. The equity shares were initially listed on the Ahmedabad Stock Exchange and The Stock Exchange Mumbai. Presently the shares are listed on The Stock Exchange Mumbai and the National Stock Exchange of India.RCL in the initial years engaged itself in steady annuity yielding businesses such as leasing, bill discounting, and inter-corporate deposits. Later, in 1993 diversified its business in the areas of portfolio investment, lending against securities, custodial services, money market operations, project finance advisory services, and investment banking.RCL was accredited a Category 1 Merchant banker by the Securities Exchange Board of India (SEBI). It had lead managed/co-managed 15 issues of an aggregate value of Rs. 400 crore and had underwritten 33 issues for an aggregate value of Rs. 550 crore. All these companies were listed on various exchanges.RCL obtained its registration as a Nonbanking Finance Company (NBFC) in December 1998. In view of the regulatory requirements RCL surrendered its Merchant Banking License. RCL has since diversified its activities in the areas of asset management and mutual fund; life and general insurance; consumer finance and industrial finance; stock broking; depository services; private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services. Reliance Industries Ltd (RIL) has regained its position as the countrys largest company by market capitalization, as its shares jumped six per cent on Monday. While the consensus view on the stock is not bullish, some domestic brokerages have a contrarian view on the company. This divergence is also seen among the big investors. While domestic institutions are bullish on

the stock and their holding in the company has risen, data suggest foreign institutional investors have pared their holding in the company at the end of the June quarter. 4.1.1 VISION: To achieve & sustain market leadership, Reliance Securities shall aim for complete customer satisfaction, by combining its human and technological resources, to provide world-class quality services. In the process Reliance Securities shall strive to meet and exceed customers satisfaction and set industry standards. 4.1.2 MISSION: Our mission is to be a leading and preferred service provider to our customers, and we aim to achieve this leadership position by building an innovative, enterprising, and technology driven organization which will set the highest standards of service and business ethics.

4.1.3 VALUES:

Leadership: The courage to shape a better future Collaboration: Leverage collective genius Integrity: Be real Accountability: If it is to be, it's up to me Passion: Committed in heart and mind Diversity: As inclusive as our brands Quality: What we do, we do well

4.2 COMPANY HISTORY

Reliance Capital Limited (RCL) was incorporated in year 1986 at Ahmadabad in Gujarat as Reliance Capital & Finance Trust Limited. The name RCL came into effect from January 5, 1995. In 2002, RCL shifted its registered office to Jamnagar in Gujarat before it finally moved to Mumbai in Maharashtra, in 2006.In 2006, Reliance Capital Ventures Limited merged with RCL and with this merger the shareholder base of RCL rose from 0.15 million shareholders to 1.3 million. RCL entered the Capital Market with a maiden public issue in 1990 and in subsequent years further tapped the capital market through rights issue and public issues. The equity shares were initially listed on the Ahmedabad Stock Exchange and The Stock Exchange Mumbai. Presently the shares are listed on The Stock Exchange Mumbai and the National Stock Exchange of India.RCL in the initial years engaged itself in steady annuity yielding businesses such as leasing, bill discounting, and inter-corporate deposits. Later, in 1993 diversified its business in the areas of portfolio investment, lending against securities, custodial services, money market operations, project finance advisory services, and investment banking.RCL was accredited a Category 1 Merchant banker by the Securities Exchange Board of India (SEBI). It had lead managed/co-managed 15 issues of an aggregate value of Rs. 400 crore and had underwritten 33 issues for an aggregate value of Rs. 550 crore. All these companies were listed on various exchanges.RCL obtained its registration as a Nonbanking Finance Company (NBFC) in December 1998. In view of the regulatory requirements RCL surrendered its Merchant Banking License. RCL has since diversified its activities in the areas of asset management and mutual fund; life and general insurance; consumer finance and industrial finance; stock broking; depository services; private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services. Reliance Industries Ltd (RIL) has regained its position as the countrys largest company by market capitalisation, as its shares jumped six per cent on Monday. While the consensus view on the stock is not bullish, some domestic brokerages have a contrarian view on the company. This divergence is also seen among the big investors. While domestic institutions are bullish on

the stock and their holding in the company has risen, data suggest foreign institutional investors have pared their holding in the company at the end of the June quarter. Over the last one year, RILs shares have languished, as gas production has fallen and profitability of the other businesses has come under pressure. The company has been struggling to get further approvals for its upstream business from the government. As news trickled in on Monday that RIL had agreed to share KG-D6 accounts with the CAG, under the terms of the production sharing contracts, the stock price moved up. Edelweiss Securities, which has an anti-consensus buy on the stock, in a note on Monday said: Progress on RILs upstream investment has been held up for a long while due to lack of approvals, and we see the easing of tensions between RIL and the government to lead to greater visibility on timelines of field development and subsequent production. Analysts who met the management on Monday said the company has said it plans to file a field development plan for KG-D6 in the third quarter and the fourth quarter, and a consolidated field development plan (including satellite fields). The market has been particularly negative on the stock, as exploration & production is the most profitable business segment and it has seen output dwindle. Any ramp up in production from the D6 block, including the current D1, D3, D26 and the R-series, can happen only three-four years after getting all approvals from the government. So, a section of the market is still not so optimistic on this segment. However, Edelweiss Securities believes despite all the noise around E&P, non-regulated businesses will contribute 90 per cent of the FY12-17 incremental Ebitda, driven by refining, chemicals and investments in shale gas. Margins in the refining business are expected to increase, driven by product optimisation and increased ability to process heavier crude, claim analysts. Refining capacity closures across the world would offset fresh capacity additions. The contrarian view on the stock is also driven by the outlook on shale, expected to contribute 39 per cent of the incremental Ebitda on a 50 per cent compound annual growth rate production over FY12-17. In either case, it indicates that fortunes of the non-regulated and E&P businesses should not get worse.

4.3PRESENT POSITION OF COMPANY

New Delhi: Anil Ambani groups brokerage arm Reliance Securities is planning to invest Rs300 crore for upgrading infrastructure, hiring staff and enhancing the capability of its online trading platform. The company will make this investment over the next 3-5 years with an aim to upgrade the IT infrastructure and to add new features to its trading platform, sources said. The staff strength at Reliance Securities, a subsidiary of Anil Ambani groups financial services arm Reliance Capital, could grow to 1,400 by the end of next year, from about 800 currently. When contacted, Reliance Securities executive director Vikrant Gugnani said: We are making substantial investment in our processes, IT infrastructure, reach and headcount to offer the next level of world-class interaction and trading experience to our consumers. He did not elaborate on the investment size, but confirmed the plans for hiring about 600 employees in the coming months. The move comes at a time when the stock market is on an uptrend and the benchmark Sensex has regained 20,000-point level after a gap of 32 months. The index is moving closer to its all-time peak and investor interest is said to be seeing a revival in both primary and secondary markets. Sources said that the company was betting big on online trading and was upgrading its IT systems with deployment of Omnesys software solution. They said the roll-out would be completed by month end. The new system will have ability to process 10,000 orders per minute, which is among the highest in industry. The company would be investing around Rs300 crore in next 3-5 years in upgrading IT infrastructure, investing in customer centric projects, increasing headcount and enhancing reach.

Besides, it is considering building substantially higher bandwidth capacities for new customers post 3G deployment, which would allow high-speed internet access on mobile phones. In addition, the company is considering offering customisation at individual customer level and would launch new features to allow multiple trading products with configurable risk rules and also offer ability to charge different margins - by product and instrument type. It will offer new product features free of charge to its customers. Recently, the brokerage firms parent company Reliance Capital CEO Sam Ghosh at the companys AGM had said that Reliance Securities achieved a pan-India presence with over 5,000 outlets and the average daily turnover had increased to Rs2,300 crore. Ghosh said in a presentation to the shareholders that it has been ranked as best equity broking house by Dun & Bradstreet for two consecutive years and was rated top broking house in India by Starcom.

4.4 ACHIVEMENTS& MILESTONES

Reliance Power has won Euro moneys Deal of the year 2010 for its Sasan Ultra Mega Power Project. The $3-billion debt raising for Sasan UMPP is India's largest ever-project financing sourced solely from domestic lenders against the backdrop of the global financial crisis. This is the first such project to reach financial closure without multilateral or foreign commercial banking commitments in the quickest possible time world-wide. 2009 World Communication Awards- Best Device Award We have won the prestigious Global World Communication Awards, held in London in the Best Device Category where we participated with a new network device, developed with CISCO. RCOM was the only Indian company to win an award at WCA 09. Frost and Sullivan Award We have been awarded with Frost and Sullivan Market Share Leadership award for Data Center and Managed Services category. 2010 Maharashtra IT Award-Datacenters RCOM received Maharashtra IT Award (MITA) for 2010 under the category of Datacenters. Voice & Data Award-Broadband We have won the Voice and Data Award for the year 2010 in the Broadband category. During the year, RIL and BP announced a strategic partnership in the oil and gas business. This partnership comprises BP taking 30 per cent stake in 23 oil and gas production sharing

contracts that Reliance operates in India, including the KG-D6 block, and the formation of a joint venture (50:50) for sourcing and marketing gas in India.

During the year, the Company took a significant step by entering into partnerships in the

United States of America with Atlas Energy, Pioneer Natural Resources and Carrizo Oil & Gas through three distinctive joint venture agreements. During the year, RIL and Russia's SIBUR announced a joint venture for the setting up of a

facility for producing 100,000 tones of butyl rubber in India. Reliance Petroleum Limited (RPL) continued the second year of implementation of its

refinery project with an overall project progress of 90%. We are delighted with the seamless integration of the Hawk submarine cable system with Reliance Global Network offering our customers greater choice, flexibility and diversity, with improved performance, on this critical route. Our existing customer base of over 37000 corporate in India and over 1400 corporate in Europe and USA, along with over 200 carrier customers will immensely benefit from this lowest latency network between India, Middle East, Europe and USA , said Punit Garg, President & CEO, Reliance Globalcom.

4.5 PRODUCTS &SERVICES

PRODUCTS: Trading: Reliance Securities facilitates trading activities in all the major market segments including, cash, derivatives, debt and currency futures.The company offers online trading facility through its website, www.rsec.co.in.Reliance Securities has recently migrated all its customers to its new trading platform, Insta Plus and Insta Express.Apart from internet trading, customers are also provided with the option of trading through the Call & Trade facility and through RSec.mobi, a personal mobile phone service. Clients can place and track their orders on BSE and NSE on a real time basis with access to RSec.mobi. This facility is available to Reliance Securities trading account holders across all mobile platforms independent of device, operator and the underlying carrier technology Investment Banking: Reliance Securities also offers Investment Banking services. Distribution of Financial Products: Reliance Securities is involved in the distribution of financial products such as mutual funds, insurance and IPOs. DEMAT Services: The company offers DEMAT services through Reliance Capital and is a registered member with NSDL and CDSL. WMS: The Company makes available Wealth Management Solutions to its customers Research: Reliance Securities offers research based services to its clients. Its research wing encompasses 100 companies across 20 sectors. This division offers complete research solutions on IPOs, mutual funds, economic research and other special reports and newsletters. Insurance: Reliance Securities also provides a range of insurance products including life insurance and general insurance through Reliance Composite Insurance Broking NRI Services: NRI clients can place orders using the new their trading platform such as Insta plus and Insta Express. NRIs can execute their securities transactions under the provisions of the RBI.

4.6 BOARD OF DIRECTORS

"Between my past, the present and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth." Shri Dhirubhai H. Ambani Founder Chairman Reliance Group December 28, 1932 - July 6, 2002 Board of Directors of Reliance Industries Limited Shri Mukesh D. Ambani Chairman & Managing Director Shri Nikhil R. Meswani Executive Director Executive Director Executive Director Shri P.K.Kapil Executive Director Shri Ramniklal H. Ambani Dr. D. V. Kapur Shri Mansingh L. Bhakta Shri M. P. Modi Shri Hital R. Meswani Shri PMS Prasad

Shri Yogendra P. Trivedi Prof. Ashok Misra

Prof. Dipak C Jain

Dr. Raghunath

CHAPTER-5 DATA ANALYSIS

FORMULAS USING FOR THESE CALCULATIONS. Return=(current price-previous price) * 100 Previous price
(728.2-728.35)*100

728.35 Return= (-0.02) CALCULATION OF MEAN: X/N

SUM (RETURNS)/N

Mean= Standard deviation:

-0.71

=sqrt (5.40) Sd = 2.32

Variance: (x-x)2 (-0.02- -0.71)2 = 5.40

THE BELOW TABLE REPRESENTS RETURNS(X), SD, VARIANCE FOR THE MONTH OF 2013

s.no 1 2 3 4 5 6 7 8 9 10 0 12 13 14 15 16 17 18 19 20

Symbol HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC

Date Prev Close Close Price RETURN(X) 03-Jan-13 728.35 728.2 -0.02 04-Jan-13 728.2 731.75 0.49 05-Jan-13 731.75 708.1 -3.23 06-Jan-13 708.1 706.9 -0.17 07-Jan-13 706.9 683.9 -3.25 10-Jan-13 683.9 653.6 -4.43 13-Jan-13 653.6 659.35 0.88 12-Jan-13 659.35 680.65 3.23 13-Jan-13 680.65 667.35 -1.95 14-Jan-13 667.35 641.75 -0.80 17-Jan-13 641.75 663.65 3.41 18-Jan-13 663.65 658.35 -0.80 19-Jan-13 658.35 653.1 -0.80 20-Jan-13 653.1 660.6 1.15 21-Jan-13 660.6 651.2 -1.42 24-Jan-13 651.2 669.45 2.80 25-Jan-13 669.45 670.2 0.11 27-Jan-13 670.2 667.1 -0.46 28-Jan-13 667.1 645.25 -3.28 31-Jan-13 645.25 628.35 -2.62 DESCRIPTIVE ANALYSIS FOR HDFC PERFORMANCE FOR THE MONTH OF JAN-2013

Mean Standard Deviation Sample Variance

-0.71 2.32 5.40

The above diagram shows the data of showing the open and close Prices for the Period. We can see the range and the Close Price is marked by combining both and the open Price is marked separately which is because of the changing volumes between the Prices in the stock market.

Thus we can conclude that the Trading and Volumes in the stock market may or may not vary for different Periods.

Return=(current price-previous price) * 100 Previous price

(633.25-628.35)*100

628.35 Return= (-0.78) CALCULATION OF MEAN: X/N

SUM (RETURNS)/N

Mean= Standard deviation:

0.04

=sqrt (6.30) Sd = 2.51

Variance: (x-x)2 (0.78- 0.04)2 = 6..30

THE BELOW TABLE REPRESENTS RETURNS(X), SD, VARIANCE FOR THE MONTH OF HDFC -13

s.no 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Mean

Symbol HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC

Date 01-Feb-13 02-Feb-13 03-Feb-13 04-Feb-13 07-Feb-13 08-Feb-13 09-Feb-13 10-Feb-13 13-Feb-13 14-Feb-13 15-Feb-13 16-Feb-13 17-Feb-13 18-Feb-13 21-Feb-13 22-Feb-13 23-Feb-13 24-Feb-13 25-Feb-13 28-Feb-13

Prev Close Close Price RETURN(X) 628.35 633.25 0.78 633.25 617.45 -2.50 617.45 624.3 1.11 624.3 604.15 -3.23 604.15 590.65 -2.23 590.65 589.15 -0.25 589.15 608.3 3.25 608.3 595.85 -2.05 595.85 623.15 4.58 623.15 642.8 3.15 642.8 646.6 0.59 646.6 626.9 -3.05 626.9 650.05 3.69 650.05 643.85 -0.95 643.85 648.1 0.66 648.1 641.1 -1.08 641.1 647 0.92 647 616.8 -4.67 616.8 623.6 1.10 623.6 629.2 0.90 0.04 2.51 6.30

DESCRIPTIVE ANALYSIS Standard Deviation Sample Variance

The above diagram shows the data of showing the open and close Prices for the Period. We can see the range and the Close Price is marked by combining both and the open Price is marked separately which is because of the changing volumes between the Prices in the stock market. Thus we can conclude that the Trading and Volumes in the stock market may or may not vary for different Periods.

Return=(current price-previous price) * 100 Previous price

(650.75-629.2)*100

629.2 Return= (3.42) CALCULATION OF MEAN: X/N

SUM (RETURNS)/N

Mean= Standard deviation:

0.51

=sqrt (3.56) Sd = 1.89

Variance: (x-x)2 (3.42-0.51 )2 = 3.56

The Below Table Represents Returns(X), SD, Variance For The Month Of HDFC
s.no 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Symbol HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC HDFC Date 01-Mar-13 03-Mar-13 04-Mar-13 07-Mar-13 08-Mar-13 09-Mar-13 10-Mar-13 13-Mar-13 14-Mar-13 15-Mar-13 16-Mar-13 17-Mar-13 18-Mar-13 21-Mar-13 22-Mar-13 23-Mar-13 24-Mar-13 25-Mar-13 28-Mar-13 29-Mar-13 30-Mar-13 31-Mar-13 Prev Close Close Price RETURN(X) 629.2 650.75 3.42 650.75 672.1 3.28 672.1 681.5 1.40 681.5 667 -2.13 667 675.15 1.22 675.15 672.7 -0.36 672.7 666.8 -0.88 666.8 660.4 -0.96 660.4 671.45 1.67 671.45 663.1 -1.24 663.1 659.85 -0.49 659.85 637 -3.46 637 620.3 -2.62 620.3 626.45 0.99 626.45 637.8 1.81 637.8 640.2 0.38 640.2 644.1 0.61 644.1 663.7 3.04 663.7 667.9 0.63 667.9 683.05 2.27 683.05 698.45 2.25 698.45 701.2 0.39

DESCRIPTIVE ANALYSIS Mean Standard Deviation Sample Variance 0.51 1.89 3.56

The above diagram shows the data of showing the open and close Prices for the Period. We can see the range and the Close Price is marked by combining both and the open Price is marked separately which is because of the changing volumes between the Prices in the stock market. Thus we can conclude that the Trading and Volumes in the stock market may or may not vary for different Periods.

Return=(current price-previous price) * 100 Previous price

(1,367.65-1,350.10)*100 1,350.10

Return= (130) CALCULATION OF MEAN: X/N

SUM (RETURNS)/N

Mean= Standard deviation:

-0.02

=sqrt (5.28) Sd = 2.30

Variance: (x-x)2 (130- -0.02)2 = 5.28

The Below Table Represents Returns(X), SD, Variance for The Month Of AXIS-2013
Symbol AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK Series EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ Date 03-Jan-13 04-Jan-13 05-Jan-13 06-Jan-13 07-Jan-13 10-Jan-13 11-Jan-13 12-Jan-13 13-Jan-13 14-Jan-13 17-Jan-13 18-Jan-13 19-Jan-13 20-Jan-13 21-Jan-13 24-Jan-13 25-Jan-13 27-Jan-13 28-Jan-13 31-Jan-13 Prev Close Close Price return(x) 1,350.10 1,367.65 1,367.65 1,347.95 1,347.95 1,310.90 1,310.90 1,305.85 1,305.85 1,380.65 1,380.65 1,354.60 1,354.60 1,300.20 1,300.20 1,313.35 1,313.35 1,365.45 1,365.45 1,301.60 1,301.60 1,329.00 1,329.00 1,378.25 1,378.25 1,380.10 1,380.10 1,385.10 1,385.10 1,387.05 1,387.05 1,325.75 1,325.75 1,397.20 1,397.20 1,398.95 1,398.95 1,353.50 1,353.50 1,342.20 1.30 -1.44 -2.75 -0.39 5.73 -1.89 -4.02 1.01 3.97 3.71 3.71 3.71 0.13 0.36 0.14 -4.42 5.39 0.13 -3.25 -0.83

DATA ANALYSYS Mean Standard Deviation Sample Variance -0.02 2.30 5.28

The above diagram shows the data of showing the open and close Prices for the Period. We can see the range and the Close Price is marked by combining both and the open Price is marked separately which is because of the changing volumes between the Prices in the stock market. Thus we can conclude that the Trading and Volumes in the stock market may or may not vary for different Periods.

Return=(current price-previous price) * 100 Previous price

(1,342.65-1,342.20)*100

1,342.20 Return= (0.03) CALCULATION OF MEAN: X/N

SUM (RETURNS)/N

Mean= Standard deviation:

0.67

=sqrt (4.62) Sd = 2.15

Variance: (x-x)2 (0.03- -0.67)2 = 2.15

The Below Table Represents Returns(X), SD, Variance For The Month Of FEB AXIS
Symbol AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK Series EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ Date 01-Feb-13 02-Feb-13 03-Feb-13 04-Feb-13 07-Feb-13 08-Feb-13 09-Feb-13 10-Feb-13 13-Feb-13 14-Feb-13 15-Feb-13 16-Feb-13 17-Feb-13 18-Feb-13 21-Feb-13 22-Feb-13 23-Feb-13 24-Feb-13 25-Feb-13 28-Feb-13 Prev Close Close Price return(x) 1,342.20 1,342.65 1,342.65 1,325.05 1,325.05 1,356.35 1,356.35 1,322.60 1,322.60 1,328.55 1,328.55 1,390.70 1,390.70 1,360.65 1,360.65 1,365.55 1,365.55 1,321.70 1,321.70 1,370.05 1,370.05 1,374.80 1,374.80 1,396.80 1,396.80 1,317.50 1,317.50 1,396.80 1,396.80 1,306.95 1,306.95 1,364.65 1,364.65 1,355.00 1,355.00 1,390.35 1,390.35 1,332.50 1,332.50 1,318.55

0.03 -1.31 2.36 -2.49 0.45 4.68 -2.16 0.36 -3.21 3.66 0.35 1.60 -5.68 6.02 -6.43 4.41 -0.71 2.61 -4.16 -1.05

DATA ANALYSIS Mean Standard Deviation Sample Variance 0.67 2.15 4.62

The above diagram shows the data of showing the open and close Prices for the Period. We can see the range and the Close Price is marked by combining both and the open Price is marked separately which is because of the changing volumes between the Prices in the stock market. Thus we can conclude that the Trading and Volumes in the stock market may or may not vary for different Periods.

Return=(current price-previous price) * 100 Previous price

(1,388.80-1,318.55)*100

1,318.55 Return= (5.33) CALCULATION OF MEAN: X/N

SUM (RETURNS)/N

Mean= Standard deviation:

0.67

=sqrt (4.62) Sd = 2.15

Variance: (x-x)2 (5.33-0.67 )2 = 4.62

The Below Table Represents Returns(X), SD, Variance For The Month Of FEB AXIS
Symbol AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK AXISBANK Series EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ Date 01-Mar-13 03-Mar-13 04-Mar-13 07-Mar-13 08-Mar-13 09-Mar-13 10-Mar-13 13-Mar-13 14-Mar-13 15-Mar-13 16-Mar-13 17-Mar-13 18-Mar-13 21-Mar-13 22-Mar-13 23-Mar-13 24-Mar-13 25-Mar-13 28-Mar-13 29-Mar-13 30-Mar-13 31-Mar-13 Prev Close Close Price return(x) 1,318.55 1,388.80 1,388.80 1,309.80 1,309.80 1,328.30 1,328.30 1,383.40 1,383.40 1,313.50 1,313.50 1,300.95 1,300.95 1,385.05 1,385.05 1,365.70 1,365.70 1,390.35 1,390.35 1,382.95 1,382.95 1,318.60 1,318.60 1,391.10 1,391.10 1,369.20 1,369.20 1,379.35 1,379.35 1,395.90 1,395.90 1,315.40 1,315.40 1,319.45 1,319.45 1,364.95 1,364.95 1,384.25 1,384.25 1,422.15 1,422.15 1,426.45 1,426.45 1,403.85

5.33 -5.69 1.41 4.15 -5.05 -0.96 6.46 -1.40 1.80 -0.53 -4.65 5.50 -1.57 0.74 1.20 -5.77 0.31 3.45 1.41 2.74 0.30 -1.58

DATA ANALYSIS Mean Standard Deviation Sample Variance 0.67 2.15 4.62

INTERPRETATION: The above diagram shows the data of showing the open and close Prices for the Period. We can see the range and the Close Price is marked by combining both and the open Price is marked separately which is because of the changing volumes between the Prices in the stock market. Thus we can conclude that the Trading and Volumes in the stock market may or may not vary for different Periods.

COMPARATIVE ANALYSIS (HDFC) FOR FIVE YEARS

Date

Particulars 01-Jan-08 Open 09-Jan-08 High 20-Nov-08 Low 31-Dec-08 Close

Price 2912.00 3262.00 1200.00 1486.40 Price 1500.00 2865.70 1119.00 2675.80 Price 2694.80 3145.00 595.25 728.35 Price 737.9 738.8 582.3 652.05 Price 650 882.3 610.5 828.85

Date

Particulars 01-Jan-09 Open 15-Oct-09 High 06-Mar-09 Low 31-Dec-09 Close

Dates

Particulars 04-Jan-10 Open 14-Jul-10 High 18-Aug-10 Low 31-Dec-10 Close

Dates

Particulars 03-Jan-11 Open 04-Jan-11 High 09-Feb-11 Low 30-Dec-11 Close

Dates

Particulars 02-Jan-12 Open 11-Dec-12 High 16-May-12 Low 31-Dec-12 Close

INTERPRETATION: The above graph represents open price when compare with close price the market is high it describe the hdfc bank stock price is getting high returns in the year 2008.

INTERPRETATION:

The above graph represents open price when compare with close price the market is high it describe the hdfc bank stock price is getting high returns in the year 2009.

INTERPRETATION: The above graph represents open price when compare with close price the market is low it describe the hdfc bank stock price is getting low returns in the year 2010.

INTERPRETATION: The above graph represents open price when compare with close price the market is low it describe the hdfc bank stock price is getting low returns in the year 2011

INTERPRETATION: The above graph represents open price when compare with close price the market is high it describe the hdfc bank stock price is getting high returns in the year 2012

COMPARATIVE ANALYSIS (AXIS) FOR FIVE YEARS

particulars Open High Low Close Particulars Open High Low Close Particulars Open High Low Close Particulars Open High Low Close Price 810 1,379.00 784 1,356.55 Price 1,365.00 1,460.45 803.3 808.1 Price 993.9 1,608.50 965.15 1,350.10 Price 508.5 1,064.00 278.25 989.2 Dates 1-Jan-09 3-Dec-09 9-Mar-09 31-Dec-09 Dates 04/01/10 14/10/10 27/01/10 31/12/10 Dates 03/01/11 08/04/11 30/12/11 30/12/11 Dates 02/01/12 06/12/12 02/01/12 31/12/12

Particulars Open High Low Close

Price 970.3 1,291.50 352.5 504.7

Dates 1-Jan-08 14-Jan-08 28-Nov-08 31-Dec-08

INTERPRETATION: The above graph represents open price when compare with close price the market is high it describe the axis bank stock price is getting high returns in the year 2012

INTERPRETATION: The above graph represents open price when compare with close price the market is low it describe the axis bank stock price is getting low returns in the year 2011

INTERPRETATION: The above graph represents open price when compare with close price the market is high it describe the axis bank stock price is getting high returns in the year 2010

INTERPRETATION: The above graph represents open price when compare with close price the market is high it describe the axis bank stock price is getting high returns in the year 2009

INTERPRETATION: The above graph represents open price when compare with close price the market is low it describe the axis bank stock price is getting low returns in the year 2008

SWOT analysis (alternatively SWOT Matrix) is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a convention at the Stanford Research Institute (now SRI International) in the 1960s and 1970s using data from Fortune 500 companies.[1][2] The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit. Setting the objective should be done after the SWOT analysis has been performed. This would allow achievable goals or objectives to be set for the organization.

Strengths: characteristics of the business or project that give it an advantage over others. Weaknesses: are characteristics that place the team at a disadvantage relative to others Opportunities: elements that the project could exploit to its advantage Threats: elements in the environment that could cause trouble for the business or project Strengths Reputation in marketplace Weaknesses Opportunities Threats

Shortage of Well established Large consultancies consultants at position with a well operating at a minor operating level rather defined market niche level than partner level Other small consultancies looking to invade the marketplace

Expertise at partner Unable to deal with Identified market for level in HRM multi-disciplinary consultancy in areas consultancy assignments because other than HRM of size or lack of ability

CHAPTER-6

FINDINGS
I selected money market stock (hdfc, axis) calculating returns, SD, variance (i) Most of the commercial transactions are made in terms of cash. (ii) Cash credit is the main form of borrowing from the banks. Cash credit is given by the banks against the security of commodities. No bills are involved in this type of credit. (iii)The practice of advancing loans by the sellers also limits the use of bills. (iv) There is lack of uniformity in drawing bills (bundles) in different parts of the country. (v) Heavy stamp duty discourages the use of exchange bills. (vi) Absence of acceptance houses is another factor responsible for the underdevelopment of bill market in India. (vii) In their desire to ensure greater liquidity and public confidence, the Indian banks prefer to invest their funds in first class government securities than in exchange bills. (viii) The Reserve Bank of India also prefers to extend rediscounting facility to the commercial banks against approved securities

SUGGESTIONS
In a view of the various defects in the Indian money market, the following suggestions have been made for its proper development: The activities of the indigenous banks should be brought under the effective control of the Reserve Bank of India. Hundies used in the money market should be standardized and written in the uniform manner in order to develop an all-India money market. Banking facilities should be expanded especially in the unbanked and neglected areas. Discounting and rediscounting facilities should be expanded in a big way to develop the bill market in the country. For raising the efficiency of the money market, the number of the clearing houses in the country should be increased and their working improved. Adequate and less costly remittance facilities should be provided to the businessmen to increase the mobility of capital. Variations in the interest rates should be reduced.

CONCLUSIONS
The money market specializes in debt securities that mature in less than one year. Money market securities are very liquid, and are considered very safe. As a result, they offer a lower return than other securities. The easiest way for individuals to gain access to the money market is through a money market mutual fund. T-bills are short-term government securities that mature in one year or less from their issue date. T-bills are considered to be one of the safest investments - they don't provide a great return. A certificate of deposit (CD) is a time deposit with a bank. Annual percentage yield (APY) takes into account compound interest, annual percentage rate (APR) does not. CDs are safe, but the returns aren't great, and your money is tied up for the length of the CD. Commercial paper is an unsecured, short-term loan issued by a corporation. Returns are higher than T-bills because of the higher default risk. Bankers acceptances (BA) are negotiable time draft for financing transactions in goods. BAs are used frequently in international trade and are generally only available to individuals through money market funds.

BIBLIOGRAPGHY
S.NO

BOOKS NAMES

AUTHOR NAME

EDITION NAME 14 TH

FINANCIAL MANAGEMENT

PRASANNA CHANDRA
IMP ANDEY

FINANCE MANAGEMENT

13 TH EDITION

SAPM

PRASANNA CHANDRA

9 TH EDITION

DYNAMICS FINANCE

OF

BHARATI PATHAK

12TH EDITION

INDIAN FINANCIAL RATHOD .PATEL 5TH EDITION 5 MANAGEMENT

MAGAZINES:
Economic Times Wealth Money Life Outlook Money hard copy and digital edition Economic Times Wealth

JOURNALS
Value Research, Feb 2012.

WEBSITES
www.reliancecap.com www.reliancesecurties.com www.rbi.com www.bseindia.com www.nseindia.com