Professional Documents
Culture Documents
DECLARATION
Signature of the
ACKNOWLEDGEMENT
I am
in
J.VIDYANANDAGUPTA
have
did
project
the
like to
thank full
to the
TABLE OF CONTENTS
CHAPTER
PAGE NUMBER
1. INTRODUCTION...1-7
definition
Objectives
Limitations
2. REVIEW OF LITERATURE. 8-33
Bombay stock exchange
Reliance energy
Theoretical perspectives
risk
3. THE COMPANY.34-44
company profile
group
company products
KMCO
KMAMC
4. DATA ANALYSIS & PRESENTATION.45-91
Presentation and Analysis
Tables
Graphs
5. FINDINGS & CONCLUSIONS ..92-96
GLOSSARY
METHODLOGY
6. BIBLIOGRAPHY97
LIST OF TABLES
TABLE
NUMBER
PAGE
INTRODUCTION
One way for a company to grow and bring new products to the market is
that it has to raise money. Two ways to raise money are first they can
borrow it or, second they can sell shares of ownership in the company.
Many companies also do both.
Companies are able to borrow money by taking out loans. The lenders
then divide the loan into smaller pieces and sell the bonds or debt
instruments in the secondary market. This allows each investor to be a
creditor to the company. The company then takes the money raised and
uses it as it sees fit.
Companies also raise money by selling ownership in the company.
Companies divide the ownership into shares or equity instruments and
then sell them to investors. The company to uses the proceeds from the
sale of the shares as it sees fit.
As an investor in either a debt or equity instruments there are risks. With
a debt instruments there is the major risk that the company will not be
able to make the loan payments and will default on the loan an...
EQUITY
Definition 1:
Ownership interest in a corporation in the form of common stock or
preferred stock. It also refers to total assets minus total liabilities, in
which case it is also referred to as shareholder's equity or net worth or
book value. In real estate, it is the difference between what a property is
worth and what the owner owes against that property (i.e. the difference
between the house value and the remaining mortgage or loan payments
on a house). In the context of a futures trading account, it is the value of
the securities in the account, assuming that the account is liquidated at
the going price. In the context of a brokerage account, it is the net value
of the account, i.e. the value of securities in the account less any margin
requirements.
Definition 2
Ownership interest in a corporation in the form of common stock or
preferred stock.
Definition 3
Total assets minus total liabilities; here also called shareholder's equity
or net worth or book value.
Home Equity
Looking for a second mortgage or to borrow against the money you have
down on your house? Find out all you need to know in this
comprehensive article about home equity.
Introduction to Buying a Home
Learn the steps how to make a sound financial decision when buying a
house. Understand what considerations are needed when it's time to
decide how much to spend and whether it is better to rent or buy a
home.
Selling a Home
Looking to sell your home or just to find out the best practice for the
process? Learn the steps you need to take to sell your home, and how
to get the best price.
Technical analysis
Should I buy today? What will prices be tomorrow, next week, or next
year? Wouldn't investing be easy if we knew the answers to these
seemingly simple questions? Alas, if you are reading this book in the
hope that technical analysis has the answers to these questions, I'm
afraid I have to disappoint you early--it doesn't. However, if you are
reading this book with the hope that technical analysis will improve your
investing, I have good news--it will!
Some history
The term "technical analysis" is a complicated sounding name for a very
basic approach to investing. Simply put, technical analysis is the study of
prices, with charts being the primary tool.
The roots of modern-day technical analysis stem from the Dow Theory,
developed around 1900 by Charles Dow. Stemming either directly or
indirectly from the Dow Theory, these roots include such principles as
the trending nature of prices, prices discounting all known information,
confirmation and divergence, volume mirroring changes in price, and
support/resistance. And of course, the widely followed Dow Jones
Industrial Average is a direct offspring of the Dow Theory.
Charles Dow's contribution to modern-day technical analysis cannot be
understated. His focus on the basics of security price movement gave
rise to a completely new method of analyzing the markets.
Fundamental analysis
If we were all totally logical and could separate our emotions from our
investment decisions, then, fundamental analysis the determination of
price based on future earnings, would work magnificently. And since we
would all have the same completely logical expectations, prices would
only change when quarterly reports or relevant news was released.
Investors would seek "overlooked" fundamental data in an effort to find
undervalued securities.
The hotly debated "efficient market theory" states that security prices
represent everything that is known about the security at a given moment.
This theory concludes that it is impossible to forecast prices, since prices
already reflect everything that is currently known about the security.
REASEARCH METHODOLOGY
10
The data had been collected through primary and secondary source.
Primary data:
The data had been collected through India Infolines staff, and
Project guide.
Secondary data:
The data had been collected through Journals, Newspapers, and
Internet.
For the purpose of the study data was collected through secondary
source of data collection method. Major source of the data are published
net stocks of POWER COMPANIES.
11
OBJECTIVES
12
LIMITATIONS
2. The time period taken for doing the data analysis has taken
from (JUL-2007 to DEC-2007)
3. The data for doing this project has been collected from
internet, company websites, books where there can be some
hitches
13
LITERATURE REVIEW
Investing is a business of relative changes. when the economic out look
is assessed along with the direction of changes in the overall market for
stocks, the analyst must realize that even though industry groups and or
individual companies may find it difficult to buck the trend, they do not
necessarily respond to the same degree.
For the analyst industry analysis demands insight into
1. the key sectors or sub divisions of overall economic activity that
influence particular industries, and
2. The relative strength or weakness of particular industry or other
groupings under specific sets of assumptions about economic
activity. the analyst with an economic fore cast that he has
developed from scratch, or a set of figures that he has developed
from fore casts prepared by others, is now ready to apply this
information to an appropriate industry.
14
15
RELIANCE ENERGY
16
17
power
generation
projects
in
Maharashtra,Uttar
18
Mission
Excellence in Energy
To uphold
the
guiding
principles
of
trust,
integrity
and
19
Generation
Creating the Power Capability
As the integrated power utility REL has setup; a full fledged, Generation
division having proven expertise in designing, engineering, erection,
installation, commissioning, operations and maintenance of power
projects.
The division implements project plans for in house power projects and
supports ventures undertaken by other affiliate companies.
The division is fully integrated and has in house capabilities to address
every aspect of power projects including:
Mechanical
Civil
Electrical
Instrumentation
Environmental
Seven decades of experience and continuous investment in modernizing
its distribution infrastructure have helped the company achieve the
enviable distinction of operating its network with 99.93% reliability!
The efforts made towards achieving higher levels of efficiency have
reduced distribution losses to 12.01% - The lowest in the country!
Today the company caters to 5 million satisfied customers!
Investor Relations
Allotment of equity shares on 31st March2006
The Company has, on 31st March, 2006, allotted 1,04,16,000 equity
shares of Rs.10 each for cash at a price of Rs.573 (including a premium
of Rs. 563) per Share to the Promoters viz. AAA Project Ventures Private
Limited, against the outstanding warrants issued on 2nd August, 2005.
These Shares will be subject to lock in up to 1st August 2006.
Consequent upon the said allotment, the paid-up Capital of the
Company stands increased to 21,23,20,251 fully paid up equity shares
20
of Rs.10 each and the net worth will increase to approximately Rs.6,954
crore. Investor Information
Investor Information
Investor Guides
Postal Ballot
Memorandum of Association
Forms
Listings
Stock Quotations
Equity History
GDRs
Dividends
Service Standards
Dematerialization/Transfer of shares
Public Notices
Reliance Energy Ltd. is an actively traded scrip listed on the Stock
Exchange, Mumbai (BSE) and National Stock Exchange Limited (NSE).
It is traded in the A Group of BSE. The shares are admitted to the
depository systems of both NSDL and CDSL and over 97% of shares
have been dematerialized. Its GDRs are listed on the London Stock
Exchange and Convertible Bonds are listed on the Singapore Stock
Exchange and Luxembourg Stock Exchange.
Reliance Energy Ltd. is a widely held company, with its shares held by
Reliance Group Companies and about 96000 investors.
21
NTPC
NTPC is largest power generating company of India. A public sector
company, it was incorporated in the year 1975 to accelerate power
development in the country as a wholly owned company of the
Government of India. At present, Government of India holds 89.5% of
the total equity shares of the company and the balance 10.5% is held by
FIIs, Domestic Banks, Public and others. Within a span of 31 years,
NTPC has emerged as a truly national power company, with power
generating facilities in all the major regions of the country.
NTPCs core business is engineering, construction and operation of
power generating plants. It also provides consultancy in the area of
power plant constructions and power generation to companies in India
and abroad. As on date the installed capacity of NTPC is 27,904 MW
through its 15 coal based (22,895 MW), 7 gas based (3,955 MW) and 4
Joint Venture Projects (1,054 MW). NTPC acquired 50% equity of the
SAIL Power Supply Corporation Ltd. (SPSCL). This JV company
operates the captive power plants of Durgapur (120 MW), Rourkela (120
MW) and Bhilai (74 MW). NTPC also has 28.33% stake in Ratnagiri Gas
& Power Private Limited (RGPPL) a joint venture company between
NTPC, GAIL, Indian Financial Institutions and Maharashtra SEB Holding
Co. Ltd. The present capacity of RGPPL is 740 MW.
NTPCs share on 31 Mar 2007 in the total installed capacity of the
country was 20.18% and it contributed 28.50% of the total power
generation of the country during 2006-07.
NTPC has set new benchmarks for the power industry both in the area
of power plant construction and operations. It is providing power at the
cheapest average tariff in the country. With its experience and expertise
in the power sector, NTPC is extending consultancy services to various
organisations in the power business.
22
23
15
22,895
GAS/LIQ. FUEL 07
3,955
TOTAL
26,850
22
24
25
THEORATICAL PERSPECTIVES
SECURITIES
Various types of securities are traded in the market.brodly securities
represent evidence to property right.security provides a claim on an
asset and any future cash flozs the asset may generate. Commonly we
26
regulation
act
1956,
securities
include
shares,scrips.
27
Equity shares have the following rights according to section 85 (2) of the
companies act 1956.
1. Right to vote at the general body meetings of the company.
2. Right to control the management of the company.
3. Right to share in the profits in the form of dividends and bonus
shares.
4. Right to claim on the residual after repayment of all the claims in
the case of winding up pf the company.
5. Right of pre-emption in the matter of issue of new capital.
6. Right to apply to court if there is any discrepancy in the rights set
aside.
7. Right to receive a copy of the statutory report, copies of annual
accounts along with audited report.
8. Right to apply the company law board for calling an extraordinary
general meeting.
In a limited company the equity shareholders are liable to pay the
companys debt only to the extent of their share in the paid up capital.
The equity shares have certain advantages. The main advantages
are
Capital appreciation
Limited liability
Free tradeability
Tax advantages (in certain cases) and
Hedge against inflation
SWEAT EQUITY
Sweat equity is a new equity instrument introduced in the companies
(amendment) ordinance, 1998. newly inserted section 79A of the
companies act, 1956 allows issue of sweat equity. However, it should be
issued out of a class of equity shares already issued by the company. It
28
cannot form a new class of equity shares. Section 79A (2) explains that
all limitations, restrictions and provisions applicable to equity shares are
applicable to sweat equity. Thus, sweat equity forms a part of equity
share capital.
The definition of sweat equity has two different dimensions:
They have right to participate on the bonus issue. The non-voting shares
also can be listed and traded on the stock exchanges. If non-voting
shares are not paod dividend for two years, the shares would
automatically get voting rights. The company can issue this to a
maximum of 25 percent pf the voting stock. The dividend on non-voting
29
RIGHT SHARES
Shares offered to the existing shareholders at a price by the company
are called rightshares. They are offered to the shareholders as a matter
of legal right. If a public company wants to increase its subscribed
capital by way of issuing shares after two years from its formation date
or one year from the date of first allotment, whichever is earlier, such
shares should be offered first to the existing shareholders in proportion
to the capital paid up on the shares held by them at the date of such
offer. This pre-emptive right can be forfeited by the shareholders through
a special resolution. The shareholder can renounce the right shares in
favour of his nominee. He may renounce all or part of the shares offered
to him. The right shares may be partly paid. Minimum subscription limit is
prescribed for right issues. In the event of company failing to receive
90% subscription, the company shall have to return the entire money
received. At present, SEBI has removed this limit. Right issues are
regulated under the provisions of the companies act and SEBI.
BONUS SHARES
Bonus shares is the distribution of shares in addition to the cash
dividends to the existing shareholders. Bonus shares are issued to the
existing shareholders without any payment of cash.the aim of bonus
share is to capitalise the free reserves. The bonus issue is made out of
30
Non-cumulative shares
As the name suggests, the dividend does not accumulate. If there is no
profit or inadequate profit in the company in a particular year, the
company does not pay it. In the winding up of a company if the
preference and equity shares are fully paid, they have no further rights to
31
32
June 1988. The introduction of section 80A in the companies act 1956
put an end to it.
RISK
Any rational investor, before investing his or her investible wealth in
stock, analysis the risk associated with the particular stock. The actual
return he receives from a stock may vary from his caused by several
factors, either common to all stock or specific to a particular stock.
Investor in general would like to analyse the risk factors and a through
33
knowledge of the risk helps him to plan his portfolio in such a manner so
as to minimise the risk associated with the investment
Risk defined
The dictionary meaning of risk is the possibility of laws or injury; the
degree or probability of such loss. In risk, the probable out comes of all
the possible events are listed. Once the events are listed subjectively,
the derived probalibilities can be assigned to the entire possible events.
Risk consists of two components, the systematic risk and unsystematic
risk. The systematic risk caused by factors external to the particular
company and uncontrollable by the company. The systematic risk affects
the market as a whole. In the case of unsystematic risk the factors are
specific, unique and related to the particular industry or company.
Systematic Risk
The systematic risk affects the entire market. Often we read in the news
paper that the stock market is in the bear hug or in the bull grip. This
indicates that the entire market is moving in a particular direction either
downward or upward. The economic conditions, political situations and
the sociological changes affect the security market. The recession in the
economy affect the profit prospect of the industry and the stock market.
The 1998 recession experienced by developed and developing countries
has affected the stock markets all over the world. The South East Asian
crisis has affected the stock market world wide. There factors are
beyond and control of the corporate and the investor. They cant be
entirely avoided by the investor. It derives home the point that the
systematic risk is unavoidable. The systematic risk further subdivided in
to
1. Market risk
2. Interest rate risk
34
Market Risk
Jack Clark Francis has defined market risk has that portion of total
variability of return caused by the alternating forces of bull and bear
markets. When the security index moves upward haltingly for a
significant period of time, it is known as bull market. In the bull market,
the index moves from a low level to peak. Bear market just a reverse to
the bull market; the index declines haltingly from the peak to a market
low point called through for a significant period of a time. During the bull
and bear market more than 80 % of the securities prices rise or fall along
with the stock market indices.
The forces that affect the stock market or tangible and intangible events.
The tangible events are real events such as earthquake, war, political
uncertainty and fall in the value of currency.
35
The best example is that in April 1996, most of the initial public offerings
of many companies remained undersubscribed but IDBI and IFC bonds
were oversubscribed. The assured rate of return attracted the investors
from the stock market to the bond market.
Unsystematic Risk
As already mentioned unsystematic risk is unique and peculiar to a firm
or an industry. Unsystematic risk stems from managerial inefficiency,
technological change in production process, availability of raw material,
changes in the consumer preference, and labour problems. The nature
and magnitude of the above mentioned factors differ from industry to
industry and company to company. They have to be analysed separately
36
for each industry and firm. The changes in the consumer preferences
affect the iron and steel industry. Technological changes affect the
information technology. Technology industry more than that of consumer
product industry. Thus, it differs from industry to industry. Financial
leverage of the companies that is debt-equity portion of the companies
differs from each others. Broadly, unsystematic risk can be classified
into:
1. Business Risk
2. Financial Risk
Business Risk
Business risk is that portion of the unsystematic risk caused by the
operating environment of the business. Business risk arises from the
inability of a firm to maintain its competitive edge and the growth or
stability of the earnings. Variation that occurs in the operating
environment is reflected on the operating income and expected
dividends. The variation in the expected operated income indicates the
business risk.
37
Single product
External business risk
External risk is the result of operating conditions imposed on the firm by
circumstances beyond its control. The external environments in which it
operates exert some pressure on the firm. The external factors are social
and regulatory factors, monetary and fiscal polices of the government,
business cycle and the general economic environment within which a
firm or an industry operators. A government policy that favours a
particular industry could result in the rise price of the particular industry.
For instance, the Indian sugar and fertilizer industry depend much on
external factors.
Social and regulatory factors
Political risk
Business cycle
Financial Risk
It refers to the variability of the income to the equity capital due to the
debt capital. Financial risk in a company is associated with the capital
structure of the company. Capital structure of the company consists of
equity funds and borrowed funds. The presence of debt and preference
capital structure of the company consists of equity funds and borrowed
funds. The presence of debt and preference capital result in a
commitment of paying interest or pre fixed rate of dividend. The residual
income alone would available to the equity holders. The interests
payments affect the payments that are due to the equity debtors. The
debt financing increased the variability of the returns to the common
stock holders and affect their expectations regarding the return. The use
38
of debt with the owned funds to increase the return to the share holders
is known as financial leverage.
Risk Measurement
Understanding the nature of the risk is not adequate unless the investor
or analyst is capable of expressing it in some quantitative terms.
Expressing the risk of a stock in quantitative terms make it comparable
with other stocks. Measurement cant be assured of cent percent
accuracy because risk is caused by numerous factors such as social,
political, economic and managerial efficiency. Measurement provides an
approximate quantification of risk. The statistical tool often used to
measure and used as a proxy for risk is the standard deviation.
Standard Deviation
It is a measure of the values of the variable around its mean or it is the
square root of the sum of the squared deviations from the mean divided
by the number of observances. The arithmetic mean of the returns may
be same for two companies but the returns may vary widely.
COMPANY PROFILE
The Kotak Mahindra Group
39
Group Management
Mr. Uday Kotak
40
1991
1992
1995
1996
1998
distribution.
Enters the mutual fund market with the launch of Kotak Mahindra Asset
Management Company.
Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance
business.
2000
2001
2003
2004
2005
2006
41
COMPANY PRODUCTS
Kotak Mahindra Bank
At Kotak Mahindra Bank, we address the entire spectrum of financial
needs for individuals and corporates. we have the products, the
experience, the infrastructure and most importantly the commitment to
deliver pragmatic, end-to-end solutions that really work.
2001.
42
Car Finance
Kotak Mahindra Prime Limited (KMPL) is a subsidiary of Kotak
Mahindra Bank Limited formed to finance all passenger vehicles. The
company is dedicated to financing and supporting automotive and
automotive related manufacturers, dealers and retail customers.The
Company offers car financing in the form of loans for the entire range of
passenger cars and multi utility vehicles. The Company also offers
Inventory funding to car dealers and has entered into strategic
arrangement with various car manufacturers in India for being their
preferred financier
Kotak Securities Ltd.
Kotak Securities Ltd. is India's leading stock broking house with a market
share of around 8.5 % as on 31st March. Kotak Securities Ltd. has been
the largest in IPO distribution.
The accolades that Kotak Securities has been graced with include:
43
44
45
The Fund
Kotak Realty Fund, established in May 2005, is one of India's first private
equity funds with a focus on real estate and real estate intensive
businesses. Kotak Realty Fund operates as a venture capital fund, under
the SEBI Venture Capital Fund Regulations, 1996 in India. The fund's
corpus has been contributed by leading banks, domestic corporates,
family offices and high net worth individuals. The fund is closed ended
and has a life of seven years.
Investment Formats
The fund would seek equity investments in development projects,
enterprise level investments in real estate operating companies, and in real
estate intensive businesses not limited to hotels, healthcare, retailing,
education and property management. Further, the fund would also be
investing in non-performing loans with underlying property collateral.
Asset Class
46
The fund would invest in all the main property asset classes such as
residential (townships, luxury residential, low cost housing, golf
communities), hospitality (hotels and serviced apartments), office (core
and business parks), shopping centres and alternative asset classes such as
logistics and warehousing.
Geographical Locations
In order to achieve geographical diversity, the fund would invest in not
just the Tier I cities such as Mumbai, NCR and Bangalore but also in Tier
II cities such as Pune, Kolkotta, Hyderabad and Chennai) and other Tier
III cities, examples of which are Nagpur, Coimbotore, Mysore and
Ludhiana)
The Fund Manager believes that through diversification in geographies,
asset class and investment formats, the Fund should be well positioned to
achieve superior risk adjusted returns.
Fund Management Team
Kotak Realty Fund is managed by its investment team located in Mumbai,
India and supported by an organization in which thought leadership,
contrarian play, due diligence, communication and collaborative
partnerships take precedence. The Fund has a core team of professionals
dedicated to sourcing, analyzing, executing and managing the
investments. This unique team brings together profiles combining real
estate corporate finance advisory, investment banking, venture capital,
infrastructure development and finance, and REITS valuation experience.
47
48
RETURN
Return is the primary motivating force that derives investment. It
represents the reward for undertaking investment. Since the game of
investing is about return (after allowing for risk), measurement of
realized
Current Return
Capital Return
Current Return
The first component that often comes to mind when one is thinking about
return is the periodic cash flow ( income ), such as dividend or interest,
generated by the investment. Current return is measured as the periodic
income in relation to the beginning price of the investment.
Capital Return
49
ANALYSIS
BSE
RETURNS, MEAN, VARIANCE AND STANDARD DEVIATION OF BSE
SENSEX FOR THE MONTH OF JULY- 2007
S.NO
1
2
3
4
Date
base
2-Jul-07
3-Jul-07
4-Jul-07
5-Jul-07
Close Price
14431.06
14664.26
14806.51
14880.24
14861.89
Return(X)
X-mean
(X-mean)2
1.62
0.97
0.50
-0.12
1.14
0.50
0.03
-0.60
1.31
0.25
0.00
0.35
50
S.D
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
6-Jul-07
9-Jul-07
10-Jul-07
11-Jul-07
12-Jul-07
13-Jul-07
16-Jul-07
17-Jul-07
18-Jul-07
19-Jul-07
20-Jul-07
23-Jul-07
24-Jul-07
25-Jul-07
26-Jul-07
14964.12
15045.73
15009.88
14910.62
15092.04
15272.72
15311.22
15289.82
15301.17
15550.13
15565.55
15732.2
15794.92
15699.33
15776.31
mean
0.69
0.55
-0.24
-0.66
1.22
1.20
0.25
-0.14
0.07
1.63
0.10
1.07
0.40
-0.61
0.49
0.47
0.22
0.07
-0.71
-1.13
0.74
0.72
-0.22
-0.61
-0.40
1.15
-0.37
0.60
-0.07
-1.08
0.02
variance
0.05
0.01
0.51
1.29
0.55
0.53
0.05
0.37
0.16
1.33
0.14
0.36
0.01
1.16
0.00
0.44
0.67
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
VARIANCE
S.D
MAX
MIN
RANGE
0.47
0.44
0.67
1.63
-0.66
2.29
The above table shows descriptive statistics of BSE SENSEX for the
month July 2007, it shows that mean value is 0.47,the daily price
variations is 0.44 risk factor in this month is 0.67, maximum returns is
1.63, minimum value is negative (-0.66) and range is 2.29.here the risk
factor is stable when compared to average returns.
GRAPHICAL REPRESENTATION OF RETURNS OF BSE SENSEX
FOR THE MONTH JULY-2007
51
Return(X)
0.00
-0.50
11
13
15
17
19
-1.00
The above graph represents daily returns of BSE SENSEX for the month
July, The graph reveals that there is a continuous rise in BSE points as
most of its returns are positive.
RETURNS, MEAN, VARIANCE AND STANDARD DEVIATION OF BSE
SENSEX FOR THE MONTH OF AUGUST- 2007
S.NO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Date
1-Aug-07
2-Aug-07
3-Aug-07
6-Aug-07
7-Aug-07
8-Aug-07
9-Aug-07
10-Aug-07
13-Aug-07
14-Aug-07
16-Aug-07
17-Aug-07
20-Aug-07
21-Aug-07
22-Aug-07
23-Aug-07
24-Aug-07
27-Aug-07
28-Aug-07
Close Price
14935.77
14985.7
15138.4
14903.03
14932.77
15307.98
15100.15
14868.25
15017.21
15000.91
14358.21
14141.52
14427.55
13989.11
14248.66
14163.98
14424.87
14842.38
14919.19
mean
Return(X)
-5.33
0.33
1.02
-1.55
0.20
2.51
-1.36
-1.54
1.00
-0.11
-4.28
-1.51
2.02
-3.04
1.86
-0.59
1.84
2.89
0.52
-0.27
X-mean
-5.06
0.60
1.29
-1.29
0.47
2.78
-1.09
-1.27
1.27
0.16
-4.02
-1.24
2.29
-2.77
2.12
-0.33
2.11
3.16
0.79
variance
(X-mean)2
25.59
0.36
1.66
1.65
0.22
7.74
1.19
1.60
1.62
0.03
16.12
1.54
5.25
7.67
4.51
0.11
4.46
10.01
0.62
4.84
S.D
2.20
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
-0.27
VARIANCE
4.84
52
S.D
2.20
MAX
2.89
MIN
-4.28
RANGE
7.18
The above table shows descriptive statistics of BSE SENSEX for the
month august 2007, it shows that mean value is -0.27,the daily price
variations is 4.84, risk factor in this month is 2.20, maximum returns is
2.89, minimum value is negative (-4.28) and range is 7.18.here the risk
factor is very high when compared to average returns.
GRAPHICAL REPRESENTATION OF RETURNS OF BSE SENSEX
FOR THE MONTH AUGUST-2007
Returns of BSE sensex for the month of aug
2007
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
-3.00
-4.00
-5.00
-6.00
11
13
15
17
19
Return(X)
The above graph represents daily returns of BSE SENSEX for the month
august, The graph reveals that there is a continuous rise and fall in BSE
points as most of its returns are in negative value. Thus we can say that
there was a frequent inflow of funds and market capitalization.
Date
3-Sep-07
4-Sep-07
5-Sep-07
6-Sep-07
Close Price
15422.05
15465.4
15446.15
15616.31
Return(X)
3.37
0.28
-0.12
1.10
53
X-mean
2.63
-0.46
-0.87
0.36
(X-mean)2
6.90
0.21
0.75
0.13
S.D
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
7-Sep-07
10-Sep-07
11-Sep-07
12-Sep-07
13-Sep-07
14-Sep-07
17-Sep-07
18-Sep-07
19-Sep-07
20-Sep-07
21-Sep-07
24-Sep-07
25-Sep-07
26-Sep-07
27-Sep-07
15590.42
15596.83
15542.77
15505.36
15614.44
15603.8
15504.43
15669.12
16322.75
16347.95
16564.23
16845.83
16899.54
16921.39
17150.56
mean
-0.17
0.04
-0.35
-0.24
0.70
-0.07
-0.64
1.06
4.17
0.15
1.32
1.70
0.32
0.13
1.35
0.74
-0.91
-0.70
-1.09
-0.98
-0.04
-0.81
-1.38
0.32
3.43
-0.59
0.58
0.96
-0.42
-0.61
0.61
variance
0.83
0.49
1.19
0.97
0.00
0.66
1.91
0.10
11.75
0.35
0.34
0.91
0.18
0.38
0.37
1.50
1.22
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
0.74
VARIANCE
1.50
S.D
1.22
MAX
4.17
MIN
-0.64
4.81
RANGE
The above table shows descriptive statistics of BSE SENSEX for the
month September 2007, it shows that mean value is 0.74,the daily price
variations is 1.50, risk factor in this month is 1.22, maximum returns is
4.17, minimum value is negative (-0.64) and range is 4.81.here the risk
factor is very high when compared to average returns.
54
Return(X)
1.00
0.00
-1.00
11
13
15
17
19
The above graph represents daily returns of BSE SENSEX for the month
September; the graph reveals that there is a continuous rise in BSE
points as most of its returns are positive.
Date
1-Oct-07
Close Price
17328.62
Return(X)
1.04
55
X-mean
0.40
(X-mean)2
0.16
S.D
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
3-Oct-07
4-Oct-07
5-Oct-07
8-Oct-07
9-Oct-07
10-Oct-07
11-Oct-07
12-Oct-07
15-Oct-07
16-Oct-07
17-Oct-07
18-Oct-07
19-Oct-07
22-Oct-07
23-Oct-07
24-Oct-07
25-Oct-07
26-Oct-07
17847.04
17777.14
17773.36
17491.39
18280.24
18658.25
18814.07
18419.04
19058.67
19051.86
18715.82
17998.39
17559.98
17613.99
18492.84
18512.91
18770.89
19243.17
mean
2.99
-0.39
-0.02
-1.59
4.51
2.07
0.84
-2.10
3.47
-0.04
-1.76
-3.83
-2.44
0.31
4.99
0.11
1.39
2.52
0.63
2.36
-1.03
-0.66
-2.22
3.88
1.43
0.20
-2.73
2.84
-0.67
-2.40
-4.47
-3.07
-0.33
4.35
-0.53
0.76
1.88
variance
5.55
1.05
0.43
4.93
15.02
2.05
0.04
7.48
8.05
0.45
5.75
19.96
9.43
0.11
18.96
0.28
0.58
3.54
5.46
2.34
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
0.63
MEAN
5.46
VARIANCE
2.34
S.D
4.99
MAX
-3.83
MIN
8.82
RANGE
The above table shows descriptive statistics of BSE SENSEX for the
month October 2007, it shows that mean value is 0.63, the daily price
variations is 5.46, risk factor in this month is 2.34, maximum returns is
4.99, minimum value is negative (-3.83) and range is 8.82.here the risk
factor is very high when compared to average returns.
56
Return(X)
1
11
13
15
17
19
The above graph represents daily returns of BSE SENSEX for the month
October, The graph reveals that there is a continuous rise and fall in
BSE points as most of its returns are in negative value. Thus we can say
that there was a frequent inflow of funds and market capitalization.
Date
Close Price
Return(X)
57
X-mean
(X-mean)2
S.D
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1-Nov-07
2-Nov-07
5-Nov-07
6-Nov-07
7-Nov-07
8-Nov-07
9-Nov-07
12-Nov-07
13-Nov-07
14-Nov-07
15-Nov-07
16-Nov-07
19-Nov-07
20-Nov-07
21-Nov-07
22-Nov-07
23-Nov-07
26-Nov-07
27-Nov-07
19724.35
19976.23
19590.78
19400.67
19289.83
19058.93
18907.6
18737.27
19035.48
19929.06
19784.89
19698.36
19633.36
19280.8
18602.62
18526.32
18852.87
19247.54
19127.73
mean
2.50
1.28
-1.93
-0.97
-0.57
-1.20
-0.79
-0.90
1.59
4.69
-0.72
-0.44
-0.33
-1.80
-3.52
-0.41
1.76
2.09
-0.62
-0.01
2.52
1.29
-1.91
-0.96
-0.56
-1.18
-0.78
-0.89
1.61
4.71
-0.71
-0.42
-0.32
-1.78
-3.50
-0.40
1.78
2.11
-0.61
variance
6.33
1.67
3.67
0.91
0.31
1.40
0.61
0.79
2.58
22.18
0.50
0.18
0.10
3.17
12.27
0.16
3.16
4.44
0.37
3.41
1.85
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
-0.01
MEAN
3.41
VARIANCE
1.85
S.D
4.69
MAX
-3.52
MIN
8.21
RANGE
The above table shows descriptive statistics of BSE SENSEX for the
month November2007, it shows that mean value is -0.01the daily price
variations is 3.41, risk factor in this month is 1.85, maximum returns is
4.69, minimum value is negative (-3.52) and range is 8.21.here the risk
factor is very high when compared to average returns.
58
0.00
-2.00
11
13
15
17
19
-4.00
The above graph represents daily returns of BSE SENSEX for the month
November, The graph reveals that there is a continuous rise and fall in
BSE points as most of its returns are in negative value. Thus we can say
that there was a frequent inflow of funds and market capitalization.
Date
Close Price
Return(X)
59
X-mean
(X-mean)2
S.D
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
3-Dec-07
4-Dec-07
5-Dec-07
6-Dec-07
7-Dec-07
10-Dec-07
11-Dec-07
12-Dec-07
13-Dec-07
14-Dec-07
17-Dec-07
18-Dec-07
19-Dec-07
20-Dec-07
24-Dec-07
26-Dec-07
27-Dec-07
28-Dec-07
31-Dec-07
19603.41
19529.5
19738.07
19795.87
19966
19930.68
20290.89
20375.87
20104.39
20030.83
19261.35
19079.64
19091.96
19162.57
19854.12
20192.52
20216.72
20206.95
20286.99
mean
2.49
-0.38
1.07
0.29
0.86
-0.18
1.81
0.42
-1.33
-0.37
-3.84
-0.94
0.06
0.37
3.61
1.70
0.12
-0.05
0.40
0.32
2.17
-0.70
0.75
-0.03
0.54
-0.50
1.49
0.10
-1.65
-0.69
-4.16
-1.27
-0.26
0.05
3.29
1.38
-0.20
-0.37
0.07
variance
4.69
0.49
0.56
0.00
0.29
0.25
2.21
0.01
2.74
0.47
17.33
1.60
0.07
0.00
10.81
1.91
0.04
0.14
0.01
2.29
1.51
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
0.32
MEAN
2.29
VARIANCE
1.51
S.D
3.61
MAX
-3.84
MIN
7.45
RANGE
The above table shows descriptive statistics of BSE SENSEX for the
month December2007, it shows that mean value is 0.32,the daily price
variations is 2.29, risk factor in this month is 1.51, maximum returns is
3.61, minimum value is negative (-3.84) and range is 7.45.here the risk
factor is very high when compared to average returns.
60
11
13
15
17
19
Return(X)
-2.00
-3.00
-4.00
-5.00
The above graph represents daily returns of BSE SENSEX for the month
December, The graph reveals that there is a continuous rise and fall in
BSE points as most of its returns are in negative value. Thus we can say
that there was a frequent inflow of funds and market capitalization.
RELIANCE ENERGY
RETURNS, MEAN, VARIANCE AND STANDARD DEVIATION OF
RELIANCE ENERGY FOR THE MONTH OF JUL- 2007
61
S.No
Date
Close Price
Return(x)
(X-MEAN)
(X-MEAN)2
S.D
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
base
2-Jul-07
3-Jul-07
4-Jul-07
5-Jul-07
6-Jul-07
9-Jul-07
10-Jul-07
11-Jul-07
12-Jul-07
13-Jul-07
16-Jul-07
17-Jul-07
18-Jul-07
19-Jul-07
20-Jul-07
23-Jul-07
24-Jul-07
25-Jul-07
26-Jul-07
579.45
624.75
615.55
613.55
592.65
598.15
616.05
615
625.9
669.1
676.4
704.55
700.2
688.5
686
688.75
715.3
774.9
778.7
800.9
Mean
7.82
-1.47
-0.32
-3.41
0.93
2.99
-0.17
1.77
6.90
1.09
4.16
-0.62
-1.67
-0.36
0.40
3.85
8.33
0.49
2.85
1.77
6.05
-3.24
-2.09
-5.17
-0.84
1.23
-1.94
0.01
5.14
-0.68
2.39
-2.38
-3.44
-2.13
-1.37
2.09
6.57
-1.28
1.08
variance
36.61
10.49
4.38
26.76
0.70
1.50
3.75
0.00
26.37
0.46
5.74
5.68
11.82
4.54
1.87
4.36
43.10
1.63
1.18
10.05
3.17
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
1.77
MEAN
10.05
VARIANCE
S.D
3.17
MAX
8.33
MIN
-3.41
RANGE
11.74
62
Date
Close Price
Return(x)
63
(X-MEAN)
(X-MEAN)2
S.D
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1-Aug-07
2-Aug-07
3-Aug-07
6-Aug-07
7-Aug-07
8-Aug-07
9-Aug-07
10-Aug-07
13-Aug-07
14-Aug-07
16-Aug-07
17-Aug-07
20-Aug-07
21-Aug-07
22-Aug-07
23-Aug-07
24-Aug-07
27-Aug-07
28-Aug-07
737.4
752.8
755
742.15
764.75
783
758.4
748.3
753.3
753.65
717
718.25
724.6
691.9
723.5
704.5
735.8
762.5
766.45
mean
-7.93
2.09
0.29
-1.70
3.05
2.39
-3.14
-1.33
0.67
0.05
-4.86
0.17
0.88
-4.51
4.57
-2.63
4.44
3.63
0.52
-0.18
-7.75
2.27
0.47
-1.52
3.22
2.56
-2.96
-1.15
0.85
0.22
-4.69
0.35
1.06
-4.34
4.74
-2.45
4.62
3.81
0.70
variance
60.09
5.13
0.22
2.33
10.38
6.57
8.79
1.33
0.71
0.05
21.96
0.12
1.13
18.80
22.51
6.00
21.34
14.48
0.48
10.65
3.26
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
-0.18
MEAN
10.65
VARIANCE
3.26
S.D
4.57
MAX
-7.93
MIN
12.50
RANGE
64
Date
3-Sep-07
Close Price
777.4
Return(x)
1.43
65
(X-MEAN)
-0.63
(X-MEAN)2
0.40
S.D
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
4-Sep-07
5-Sep-07
6-Sep-07
7-Sep-07
10-Sep-07
11-Sep-07
12-Sep-07
13-Sep-07
14-Sep-07
17-Sep-07
18-Sep-07
19-Sep-07
20-Sep-07
21-Sep-07
24-Sep-07
25-Sep-07
26-Sep-07
27-Sep-07
823.35
823.8
860.6
850.4
864.3
860.35
894
890.2
883
907.8
927.25
947.85
988.4
1009.55
1093.9
1087.2
1025.95
1117.15
mean
5.91
0.05
4.47
-1.19
1.63
-0.46
3.91
-0.43
-0.81
2.81
2.14
2.22
4.28
2.14
8.36
-0.61
-5.63
8.89
2.06
3.85
-2.00
2.41
-3.24
-0.42
-2.52
1.85
-2.48
-2.87
0.75
0.08
0.16
2.22
0.08
6.30
-2.67
-7.69
6.83
variance
14.84
4.02
5.80
10.52
0.18
6.33
3.43
6.17
8.22
0.56
0.01
0.03
4.92
0.01
39.64
7.14
59.18
46.65
11.48
3.39
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
2.06
MEAN
11.48
VARIANCE
3.39
S.D
8.89
MAX
-5.63
MIN
14.52
RANGE
66
Date
1-Oct-07
Close Price
1349.55
Return(x)
20.80
67
(X-MEAN)
18.32
(X-MEAN)2
335.46
S.D
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
3-Oct-07
4-Oct-07
5-Oct-07
8-Oct-07
9-Oct-07
10-Oct-07
11-Oct-07
12-Oct-07
15-Oct-07
16-Oct-07
17-Oct-07
18-Oct-07
19-Oct-07
22-Oct-07
23-Oct-07
24-Oct-07
25-Oct-07
26-Oct-07
1449
1481.4
1448.05
1380.15
1533.95
1585.7
1603.05
1636.7
1844.4
1900.85
1766.55
1591.2
1334.15
1367.5
1522.8
1655.7
1648
1670.35
mean
7.37
2.24
-2.25
-4.69
11.14
3.37
1.09
2.10
12.69
3.06
-7.07
-9.93
-16.15
2.50
11.36
8.73
-0.47
1.36
2.49
4.88
-0.25
-4.74
-7.18
8.66
0.89
-1.39
-0.39
10.20
0.57
-9.55
-12.41
-18.64
0.01
8.87
6.24
-2.95
-1.13
variance
23.83
0.06
22.45
51.50
74.93
0.79
1.94
0.15
104.10
0.33
91.25
154.09
347.51
0.00
78.66
38.94
8.72
1.28
70.32
8.39
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
2.49
MEAN
70.32
VARIANCE
8.39
S.D
20.80
MAX
-16.15
MIN
36.96
RANGE
68
Date
1-Nov-07
Close Price
1766.35
Return(x)
5.75
69
(X-MEAN)
5.42
(X-MEAN)2
29.35
S.D
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
2-Nov-07
5-Nov-07
6-Nov-07
7-Nov-07
8-Nov-07
9-Nov-07
12-Nov-07
13-Nov-07
14-Nov-07
15-Nov-07
16-Nov-07
19-Nov-07
20-Nov-07
21-Nov-07
22-Nov-07
23-Nov-07
26-Nov-07
27-Nov-07
1852.5
1817.4
1848
1819.8
1849.4
1838.45
1816.9
1857.5
1920.55
1853.6
1826.1
1829.85
1795.1
1692.25
1603.85
1725.3
1790.3
1757.35
mean
4.88
-1.89
1.68
-1.53
1.63
-0.59
-1.17
2.23
3.39
-3.49
-1.48
0.21
-1.90
-5.73
-5.22
7.57
3.77
-1.84
0.33
4.55
-2.22
1.35
-1.86
1.30
-0.92
-1.50
1.91
3.06
-3.82
-1.81
-0.12
-2.23
-6.06
-5.55
7.24
3.44
-2.17
variance
20.68
4.95
1.83
3.44
1.68
0.85
2.26
3.63
9.39
14.56
3.29
0.02
4.97
36.71
30.84
52.46
11.82
4.71
12.50
3.54
DESCRIPTIVE STATISTICS.
SUMMARY STATEMENT
0.33
MEAN
12.50
VARIANCE
3.54
S.D
7.57
MAX
-5.73
MIN
13.30
RANGE
70
Date
3-Dec-07
Close Price
1900.05
Return(x)
8.12
71
(X-MEAN)
7.05
(X-MEAN)2
49.70
S.D
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
4-Dec-07
5-Dec-07
6-Dec-07
7-Dec-07
10-Dec-07
11-Dec-07
12-Dec-07
13-Dec-07
14-Dec-07
17-Dec-07
18-Dec-07
19-Dec-07
20-Dec-07
24-Dec-07
26-Dec-07
27-Dec-07
28-Dec-07
31-Dec-07
1898.35
1889
1946.5
1937.6
1945.4
1948.25
1933.3
1912.3
1912.4
1828.8
1805.15
1881.3
1940.15
2063
2111.9
2134.1
2158.35
2135.45
mean
-0.09
-0.49
3.04
-0.46
0.40
0.15
-0.77
-1.09
0.01
-4.37
-1.29
4.22
3.13
6.33
2.37
1.05
1.14
-1.06
1.07
-1.16
-1.56
1.97
-1.53
-0.67
-0.92
-1.84
-2.16
-1.07
-5.44
-2.36
3.15
2.06
5.26
1.30
-0.02
0.07
-2.13
variance
1.35
2.44
3.90
2.33
0.45
0.85
3.38
4.65
1.13
29.61
5.59
9.91
4.23
27.68
1.69
0.00
0.00
4.54
8.08
2.84
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
1.07
MEAN
8.08
VARIANCE
2.84
S.D
8.12
MAX
-4.37
MIN
12.49
RANGE
72
73
S.No
Date
Returns of
Reliance energy
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
2-Jul-07
3-Jul-07
4-Jul-07
5-Jul-07
6-Jul-07
9-Jul-07
10-Jul-07
11-Jul-07
12-Jul-07
13-Jul-07
16-Jul-07
17-Jul-07
18-Jul-07
19-Jul-07
20-Jul-07
23-Jul-07
24-Jul-07
25-Jul-07
26-Jul-07
7.82
-1.47
-0.32
-3.41
0.93
2.99
-0.17
1.77
6.90
1.09
4.16
-0.62
-1.67
-0.36
0.40
3.85
8.33
0.49
2.85
Returns of
BSE sensex
1.62
0.97
0.50
-0.12
0.69
0.55
-0.24
-0.66
1.22
1.20
0.25
-0.14
0.07
1.63
0.10
1.07
0.40
-0.61
0.49
Correlation
0.39
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
reliance energy and BSE SENSEX it shows that there exists a positive
correlation between both the scripts. Thus we can say that both the
markets are going according to the market conditions. If we see the
returns of reliance energy it has some negative returns (-3.41,-1.47,0.62,-0.36,-0.32,-0.17) but still the overall correlation is positive.
CORRELATION OF RETURNS BETWEEN RELIANCE ENERGY AND
BSE SENSEX FOR THE MONTH OF AUG-2007
74
S.No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Date
1-Aug-07
2-Aug-07
3-Aug-07
6-Aug-07
7-Aug-07
8-Aug-07
9-Aug-07
10-Aug-07
13-Aug-07
14-Aug-07
16-Aug-07
17-Aug-07
20-Aug-07
21-Aug-07
22-Aug-07
23-Aug-07
24-Aug-07
27-Aug-07
28-Aug-07
Returns of Reliance
energy
-7.93
2.09
0.29
-1.70
3.05
2.39
-3.14
-1.33
0.67
0.05
-4.86
0.17
0.88
-4.51
4.57
-2.63
4.44
3.63
0.52
Returns of
BSE sensex
-5.33
0.33
1.02
-1.55
0.20
2.51
-1.36
-1.54
1.00
-0.11
-4.28
-1.51
2.02
-3.04
1.86
-0.59
1.84
2.89
0.52
Correlation
0.91
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
reliance energy and BSE SENSEX it shows that there exists a positive
correlation between both the scripts. Thus we can say that both the
markets are going according to the market conditions. If we see the
returns of reliance energy it has huge negative returns (-7.93,-4.86,4.51,-3.14,-2.63,-1.70,-1.33) but still the overall correlation is positive.
CORRELATION OF RETURNS BETWEEN RELIANCE ENERGY AND
BSE SENSEX FOR THE MONTH OF SEP-2007
75
S.No
Date
Returns of
Reliance energy
Returns of
BSE sensex
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
3-Sep-07
4-Sep-07
5-Sep-07
6-Sep-07
7-Sep-07
10-Sep-07
11-Sep-07
12-Sep-07
13-Sep-07
14-Sep-07
17-Sep-07
18-Sep-07
19-Sep-07
20-Sep-07
21-Sep-07
24-Sep-07
25-Sep-07
26-Sep-07
27-Sep-07
1.43
5.91
0.05
4.47
-1.19
1.63
-0.46
3.91
-0.43
-0.81
2.81
2.14
2.22
4.28
2.14
8.36
-0.61
-5.63
8.89
3.37
0.28
-0.12
1.10
-0.17
0.04
-0.35
-0.24
0.70
-0.07
-0.64
1.06
4.17
0.15
1.32
1.70
0.32
0.13
1.35
Correlation
0.26
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
reliance energy and BSE SENSEX it shows that there exists a positive
correlation between both the scripts. Thus we can say that both the
markets are going according to the market conditions. If we see the
returns of reliance energy it has some negative returns (-5.63,-1.19,0.81,-0.61,-0.46,-0.43) but still the overall correlation is positive.
CORRELATION OF RETURNS BETWEEN RELIANCE ENERGY AND
BSE SENSEX FOR THE MONTH OF OCT-2007
76
S.No
Date
Returns of
Reliance energy
Returns of
BSE sensex
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1-Oct-07
3-Oct-07
4-Oct-07
5-Oct-07
8-Oct-07
9-Oct-07
10-Oct-07
11-Oct-07
12-Oct-07
15-Oct-07
16-Oct-07
17-Oct-07
18-Oct-07
19-Oct-07
22-Oct-07
23-Oct-07
24-Oct-07
25-Oct-07
26-Oct-07
20.80
7.37
2.24
-2.25
-4.69
11.14
3.37
1.09
2.10
12.69
3.06
-7.07
-9.93
-16.15
2.50
11.36
8.73
-0.47
1.36
1.04
2.99
-0.39
-0.02
-1.59
4.51
2.07
0.84
-2.10
3.47
-0.04
-1.76
-3.83
-2.44
0.31
4.99
0.11
1.39
2.52
Correlation
0.72
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
reliance energy and BSE SENSEX it shows that there exists a positive
correlation between both the scripts. Thus we can say that both the
markets are going according to the market conditions. If we see the
returns of reliance energy it has huge negative returns (-16.15,-9.93,7.07,-4.69,-2.25,-0.47) but still the overall correlation is positive.
CORRELATION OF RETURNS BETWEEN RELIANCE ENERGY AND
BSE SENSEX FOR THE MONTH OF NOV-2007
77
S.No
Date
Returns of
Reliance energy
Returns of
BSE sensex
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1-Nov-07
2-Nov-07
5-Nov-07
6-Nov-07
7-Nov-07
8-Nov-07
9-Nov-07
12-Nov-07
13-Nov-07
14-Nov-07
15-Nov-07
16-Nov-07
19-Nov-07
20-Nov-07
21-Nov-07
22-Nov-07
23-Nov-07
26-Nov-07
27-Nov-07
5.75
4.88
-1.89
1.68
-1.53
1.63
-0.59
-1.17
2.23
3.39
-3.49
-1.48
0.21
-1.90
-5.73
-5.22
7.57
3.77
-1.84
2.50
1.28
-1.93
-0.97
-0.57
-1.20
-0.79
-0.90
1.59
4.69
-0.72
-0.44
-0.33
-1.80
-3.52
-0.41
1.76
2.09
-0.62
Correlation
0.76
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
reliance energy and BSE SENSEX it shows that there exists a positive
correlation between both the scripts. Thus we can say that both the
markets are going according to the market conditions. If we see the
returns of reliance energy it has huge negative returns (-5.73,-5.22,3.49,-1.89,-1.84,-1.53,-1.48,-1.17) but still the overall correlation is
positive.
CORRELATION OF RETURNS BETWEEN RELIANCE ENERGY AND
BSE SENSEX FOR THE MONTH OF DEC-2007
78
S.No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Date
Returns of Reliance
energy
3-Dec-07
4-Dec-07
5-Dec-07
6-Dec-07
7-Dec-07
10-Dec-07
11-Dec-07
12-Dec-07
13-Dec-07
14-Dec-07
17-Dec-07
18-Dec-07
19-Dec-07
20-Dec-07
24-Dec-07
26-Dec-07
27-Dec-07
28-Dec-07
31-Dec-07
8.12
-0.09
-0.49
3.04
-0.46
0.40
0.15
-0.77
-1.09
0.01
-4.37
-1.29
4.22
3.13
6.33
2.37
1.05
1.14
-1.06
Returns of
BSE sensex
Correlation
2.49
-0.38
1.07
0.29
0.86
-0.18
1.81
0.42
-1.33
-0.37
-3.84
-0.94
0.06
0.37
3.61
1.70
0.12
-0.05
0.40
0.75
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
reliance energy and BSE SENSEX it shows that there exists a positive
correlation between both the scripts. Thus we can say that both the
markets are going according to the market conditions. If we see the
returns of reliance energy it has huge negative returns (-1.09,-1.06,0.77,-0.49,-0.46,-0.09) but still the overall correlation is positive.
RETURN, MEAN, VARIANCE AND STANDARD DEVIATION OF NTPC
FOR THE MONTH OF JUL-2007
79
S.No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Date
base
2-Jul-07
3-Jul-07
4-Jul-07
5-Jul-07
6-Jul-07
9-Jul-07
10-Jul-07
11-Jul-07
12-Jul-07
13-Jul-07
16-Jul-07
17-Jul-07
18-Jul-07
19-Jul-07
20-Jul-07
23-Jul-07
24-Jul-07
25-Jul-07
26-Jul-07
Close Price
150.35
152.05
151.9
155.4
152.9
155.15
157.15
155.9
154.85
156.9
157.1
154.95
155.1
155.75
156.25
154.75
157.85
163.65
167.65
168.15
mean
RETURN(X)
X-MEAN
(X-MEAN)2
S.D
1.13
-0.10
2.30
-1.61
1.47
1.29
-0.80
-0.67
1.32
0.13
-1.37
0.10
0.42
0.32
-0.96
2.00
3.67
2.44
0.30
0.60
0.53
-0.70
1.70
-2.21
0.87
0.69
-1.40
-1.27
0.72
-0.47
-1.97
-0.50
-0.18
-0.28
-1.56
1.40
3.07
1.84
-0.30
variance
0.28
0.49
2.90
4.88
0.76
0.47
1.95
1.62
0.52
0.22
3.87
0.25
0.03
0.08
2.43
1.97
9.45
3.40
0.09
1.88
1.37
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
0.60
VARIANCE
1.88
S.D
1.37
MAX
3.67
MIN
-1.61
RANGE
5.28
The above table shows descriptive statistics of NTPC for the month of
Jul- 2007, it shows that mean value is 0.60,the daily price variations is
1.88, risk factor in this month is 1.37, maximum returns is 3.67, minimum
value is negative (-1.61) and range is 5.28.here the risk factor is very
high when compared to average returns.
80
The above graph represents daily returns of NTPC for the month of Jul,
the graph reveals that there is a continuous rise and fall in NTPC points
as most of its returns are in negative value. Thus we can say that there
was a frequent inflow of funds and market capitalization.
Date
1-Aug-07
Close Price
160.35
RETURN(X)
-4.64
81
X-MEAN
-4.64
(X-MEAN)2
21.54
S.D
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
2-Aug-07
3-Aug-07
6-Aug-07
7-Aug-07
8-Aug-07
9-Aug-07
10-Aug-07
13-Aug-07
14-Aug-07
16-Aug-07
17-Aug-07
20-Aug-07
21-Aug-07
22-Aug-07
23-Aug-07
24-Aug-07
27-Aug-07
28-Aug-07
162.35
165.9
163.55
166.75
170.95
169.7
164.85
167.95
172.7
168.1
162.65
163.85
159.65
160.9
160.2
163.8
168
167.4
mean
1.25
2.19
-1.42
1.96
2.52
-0.73
-2.86
1.88
2.83
-2.66
-3.24
0.74
-2.56
0.78
-0.44
2.25
2.56
-0.36
0.00
1.24
2.18
-1.42
1.95
2.52
-0.73
-2.86
1.88
2.83
-2.67
-3.24
0.74
-2.57
0.78
-0.44
2.24
2.56
-0.36
variance
1.55
4.77
2.01
3.82
6.33
0.54
8.18
3.53
7.99
7.11
10.53
0.54
6.58
0.61
0.19
5.04
6.56
0.13
5.13
2.27
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
0.00
VARIANCE
5.13
S.D
2.27
MAX
2.83
MIN
-4.64
RANGE
7.47
The above table shows descriptive statistics of NTPC for the month of
Aug- 2007, it shows that mean value is 0.00,the daily price variations is
5.13, risk factor in this month is 2.27, maximum returns is 2.83, minimum
value is negative (-4.64) and range is 7.47.here the risk factor is very
high when compared to average returns.
82
The above graph represents daily returns of NTPC for the month of Aug,
the graph reveals that there is a continuous rise and fall in NTPC points
as most of its returns are in negative value. Thus we can say that there
was a frequent inflow of funds and market capitalization.
Date
3-Sep-07
4-Sep-07
Close Price
185.35
181.25
RETURN(X)
10.72
-2.21
83
X-MEAN
9.90
-3.04
(X-MEAN)2
97.99
9.22
S.D
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
5-Sep-07
6-Sep-07
7-Sep-07
10-Sep-07
11-Sep-07
12-Sep-07
13-Sep-07
14-Sep-07
17-Sep-07
18-Sep-07
19-Sep-07
20-Sep-07
21-Sep-07
24-Sep-07
25-Sep-07
26-Sep-07
27-Sep-07
185.6
186.2
187.05
191.1
196
190.45
191.95
185.75
183.55
184.6
189.4
189.5
187.35
196.45
194.45
191.5
193.95
mean
2.40
0.32
0.46
2.17
2.56
-2.83
0.79
-3.23
-1.18
0.57
2.60
0.05
-1.13
4.86
-1.02
-1.52
1.28
0.82
1.58
-0.50
-0.37
1.34
1.74
-3.66
-0.04
-4.05
-2.01
-0.25
1.78
-0.77
-1.96
4.03
-1.84
-2.34
0.46
variance
2.48
0.25
0.13
1.80
3.03
13.36
0.00
16.43
4.03
0.06
3.16
0.59
3.84
16.27
3.39
5.48
0.21
9.56
3.09
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
0.82
VARIANCE
9.56
S.D
3.09
MAX
10.72
MIN
-3.23
RANGE
13.95
The above table shows descriptive statistics of NTPC for the month of
Sep- 2007, it shows that mean value is 0.82,the daily price variations is
9.56, risk factor in this month is 3.09, maximum returns is 10.72,
minimum value is negative (-3.23) and range is 13.95.here the risk factor
is very high when compared to average returns.
84
The above graph represents daily returns of NTPC for the month of Sep,
the graph reveals that there is a continuous rise and fall in NTPC points
as most of its returns are in negative value. Thus we can say that there
was a frequent inflow of funds and market capitalization.
Date
1-Oct-07
3-Oct-07
4-Oct-07
Close Price
206.5
216.8
226.35
RETURN(X)
6.47
4.99
4.40
85
X-MEAN
5.50
4.02
3.44
(X-MEAN)2
30.28
16.16
11.81
S.D
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
5-Oct-07
8-Oct-07
9-Oct-07
10-Oct-07
11-Oct-07
12-Oct-07
15-Oct-07
16-Oct-07
17-Oct-07
18-Oct-07
19-Oct-07
22-Oct-07
23-Oct-07
24-Oct-07
25-Oct-07
26-Oct-07
214.45
204.9
218.15
219.3
222.55
217.65
227.4
231.5
220.45
208.35
201.55
199.6
218.8
222.15
222.55
228.9
mean
-5.26
-4.45
6.47
0.53
1.48
-2.20
4.48
1.80
-4.77
-5.49
-3.26
-0.97
9.62
1.53
0.18
2.85
0.97
-6.23
-5.42
5.50
-0.44
0.51
-3.17
3.51
0.83
-5.74
-6.46
-4.23
-1.94
8.65
0.56
-0.79
1.88
variance
38.76
29.39
30.23
0.19
0.26
10.05
12.33
0.70
32.97
41.70
17.91
3.75
74.84
0.32
0.62
3.55
18.73
4.33
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
0.97
VARIANCE
18.73
S.D
4.33
MAX
9.62
MIN
-5.49
RANGE
15.11
The above table shows descriptive statistics of NTPC for the month of
Oct- 2007, it shows that mean value is 0.97,the daily price variations is
18.73, risk factor in this month is 4.33, maximum returns is 9.62,
minimum value is negative (-5.49) and range is 15.11.here the risk factor
is very high when compared to average returns.
86
The above graph represents daily returns of NTPC for the month of Oct,
the graph reveals that there is a continuous rise and fall in NTPC points
as most of its returns are in negative value. Thus we can say that there
was a frequent inflow of funds and market capitalization.
Date
1-Nov-07
2-Nov-07
5-Nov-07
6-Nov-07
Close Price
230.15
234.85
237.05
240.25
RETURN(X)
0.55
2.04
0.94
1.35
87
X-MEAN
0.35
1.85
0.74
1.15
(X-MEAN)2
0.12
3.41
0.55
1.33
S.D
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
7-Nov-07
8-Nov-07
9-Nov-07
12-Nov-07
13-Nov-07
14-Nov-07
15-Nov-07
16-Nov-07
19-Nov-07
20-Nov-07
21-Nov-07
22-Nov-07
23-Nov-07
26-Nov-07
27-Nov-07
240.75
240.1
241.15
253.45
272.15
277.55
269.4
264.4
264.9
259.85
239.4
227.3
236.75
238.7
235
mean
0.21
-0.27
0.44
5.10
7.38
1.98
-2.94
-1.86
0.19
-1.91
-7.87
-5.05
4.16
0.82
-1.55
0.20
0.01
-0.47
0.24
4.91
7.18
1.79
-3.13
-2.05
-0.01
-2.10
-8.07
-5.25
3.96
0.63
-1.75
variance
0.00
0.22
0.06
24.06
51.59
3.20
9.81
4.21
0.00
4.42
65.05
27.56
15.70
0.39
3.05
11.30
3.36
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
VARIANCE
0.20
11.30
S.D
MAX
3.36
7.38
MIN
RANGE
-7.87
15.25
The above table shows descriptive statistics of NTPC for the month of
Nov- 2007, it shows that mean value is 0.20,the daily price variations is
11.30, risk factor in this month is 3.36, maximum returns is 7.38,
minimum value is negative (-7.87) and range is 15.25.here the risk factor
is very high when compared to average
returns.
88
RETURN(X)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19
-5.00
-10.00
The above graph represents daily returns of NTPC for the month of Nov,
the graph reveals that there is a continuous rise and fall in NTPC points
as most of its returns are in negative value. Thus we can say that there
was a frequent inflow of funds and market capitalization.
Date
3-Dec-07
4-Dec-07
Close Price
240.2
239.15
RETURN(X)
2.21
-0.44
89
X-MEAN
1.84
-0.81
(X-MEAN)2
3.37
0.66
S.D
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
5-Dec-07
6-Dec-07
7-Dec-07
10-Dec-07
11-Dec-07
12-Dec-07
13-Dec-07
14-Dec-07
17-Dec-07
18-Dec-07
19-Dec-07
20-Dec-07
24-Dec-07
26-Dec-07
27-Dec-07
28-Dec-07
31-Dec-07
245.1
245.2
245.8
241.25
243.55
251.15
245.75
246.85
228.1
231.8
228.9
228.85
236.65
239.65
240.2
241.4
250.9
mean
2.49
0.04
0.24
-1.85
0.95
3.12
-2.15
0.45
-7.60
1.62
-1.25
-0.02
3.41
1.27
0.23
0.50
3.94
0.38
2.11
-0.34
-0.13
-2.23
0.58
2.74
-2.53
0.07
-7.97
1.25
-1.63
-0.40
3.03
0.89
-0.15
0.12
3.56
variance
4.46
0.11
0.02
4.96
0.33
7.53
6.39
0.00
63.56
1.55
2.65
0.16
9.19
0.79
0.02
0.02
12.66
6.23
2.50
DESCRIPTIVE STATISTICS
SUMMARY STATEMENT
MEAN
VARIANCE
S.D
MAX
MIN
RANGE
0.38
6.23
2.50
3.94
-7.60
11.53
The above table shows descriptive statistics of NTPC for the month of
Dec- 2007, it shows that mean value is 0.38,the daily price variations is
6.23, risk factor in this month is 2.50, maximum returns is 3.94, minimum
value is negative (-7.60) and range is 11.53.here the risk factor is very
high when compared to average returns.
90
The above graph represents daily returns of NTPC for the month of Dec;
the graph reveals that there is a continuous rise in NTPC points as most
of its returns are in positive value.
91
S.No
Date
RETURNS OF NTPC
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
2-Jul-07
3-Jul-07
4-Jul-07
5-Jul-07
6-Jul-07
9-Jul-07
10-Jul-07
11-Jul-07
12-Jul-07
13-Jul-07
16-Jul-07
17-Jul-07
18-Jul-07
19-Jul-07
20-Jul-07
23-Jul-07
24-Jul-07
25-Jul-07
26-Jul-07
1.13
-0.10
2.30
-1.61
1.47
1.29
-0.80
-0.67
1.32
0.13
-1.37
0.10
0.42
0.32
-0.96
2.00
3.67
2.44
0.30
RETURNS OF
BSE SENSEX
1.62
0.97
0.50
-0.12
0.69
0.55
-0.24
-0.66
1.22
1.20
0.25
-0.14
0.07
1.63
0.10
1.07
0.40
-0.61
0.49
Correlation
0.24
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
NTPC and BSE SENSEX it shows that there exists a positive correlation
between both the scripts. Thus we can say that both the markets are
going according to the market conditions. If we see the returns of NTPC
it has some negative returns (-1.61,-1.37,-0.96,-0.67,-0.10) but still the
overall correlation is positive.
CORRELATION OF RETURNS BETWEEN NTPC AND BSE SENSEX
FOR THE MONTH OF AUG-2007
92
S.No
Date
RETURNS OF NTPC
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1-Aug-07
2-Aug-07
3-Aug-07
6-Aug-07
7-Aug-07
8-Aug-07
9-Aug-07
10-Aug-07
13-Aug-07
14-Aug-07
16-Aug-07
17-Aug-07
20-Aug-07
21-Aug-07
22-Aug-07
23-Aug-07
24-Aug-07
27-Aug-07
28-Aug-07
-4.64
1.25
2.19
-1.42
1.96
2.52
-0.73
-2.86
1.88
2.83
-2.66
-3.24
0.74
-2.56
0.78
-0.44
2.25
2.56
-0.36
RETURNS OF
BSE SENSEX
-5.33
0.33
1.02
-1.55
0.20
2.51
-1.36
-1.54
1.00
-0.11
-4.28
-1.51
2.02
-3.04
1.86
-0.59
1.84
2.89
0.52
Correlation
0.87
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
NTPC and BSE SENSEX it shows that there exists a positive correlation
between both the scripts. Thus we can say that both the markets are
going according to the market conditions. If we see the returns of NTPC
it has huge negative returns (-4.64,-3.24,-2.86,-2.66,-2.56,-1.42) but still
the overall correlation is positive.
CORRELATION OF RETURNS BETWEEN NTPC AND BSE SENSEX
FOR THE MONTH OF SEP-2007
93
S.No
Date
RETURNS OF NTPC
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
3-Sep-07
4-Sep-07
5-Sep-07
6-Sep-07
7-Sep-07
10-Sep-07
11-Sep-07
12-Sep-07
13-Sep-07
14-Sep-07
17-Sep-07
18-Sep-07
19-Sep-07
20-Sep-07
21-Sep-07
24-Sep-07
25-Sep-07
26-Sep-07
27-Sep-07
10.72
-2.21
2.40
0.32
0.46
2.17
2.56
-2.83
0.79
-3.23
-1.18
0.57
2.60
0.05
-1.13
4.86
-1.02
-1.52
1.28
RETURNS OF
BSE SENSEX
3.37
0.28
-0.12
1.10
-0.17
0.04
-0.35
-0.24
0.70
-0.07
-0.64
1.06
4.17
0.15
1.32
1.70
0.32
0.13
1.35
Correlation
0.62
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
NTPC and BSE SENSEX it shows that there exists a positive correlation
between both the scripts. Thus we can say that both the markets are
going according to the market conditions. If we see the returns of NTPC
it has some are negative returns (-3.23,-2.83,-2.21,-1.52,-1.13) but still
the overall correlation is positive.
CORRELATION OF RETURNS BETWEEN NTPC AND BSE SENSEX
FOR THE MONTH OF OCT-2007
94
S.No
Date
RETURNS OF NTPC
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1-Oct-07
3-Oct-07
4-Oct-07
5-Oct-07
8-Oct-07
9-Oct-07
10-Oct-07
11-Oct-07
12-Oct-07
15-Oct-07
16-Oct-07
17-Oct-07
18-Oct-07
19-Oct-07
22-Oct-07
23-Oct-07
24-Oct-07
25-Oct-07
26-Oct-07
6.47
4.99
4.40
-5.26
-4.45
6.47
0.53
1.48
-2.20
4.48
1.80
-4.77
-5.49
-3.26
-0.97
9.62
1.53
0.18
2.85
RETURNS OF
BSE SENSEX
1.04
2.99
-0.39
-0.02
-1.59
4.51
2.07
0.84
-2.10
3.47
-0.04
-1.76
-3.83
-2.44
0.31
4.99
0.11
1.39
2.52
Correlation
0.83
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
NTPC and BSE SENSEX it shows that there exists a positive correlation
between both the scripts. Thus we can say that both the markets are
going according to the market conditions. If we see the returns of NTPC
it has some negative returns (-5.49,-5.26,-4.77,-4.45,-3.26) but still the
overall correlation is positive.
CORRELATION OF RETURNS BETWEEN NTPC AND BSE SENSEX
FOR THE MONTH OF NOV-2007
95
S.No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Date
RETURNS OF NTPC
1-Nov-07
2-Nov-07
5-Nov-07
6-Nov-07
7-Nov-07
8-Nov-07
9-Nov-07
12-Nov-07
13-Nov-07
14-Nov-07
15-Nov-07
16-Nov-07
19-Nov-07
20-Nov-07
21-Nov-07
22-Nov-07
23-Nov-07
26-Nov-07
27-Nov-07
0.55
2.04
0.94
1.35
0.21
-0.27
0.44
5.10
7.38
1.98
-2.94
-1.86
0.19
-1.91
-7.87
-5.05
4.16
0.82
-1.55
RETURNS OF
BSE SENSEX
2.50
1.28
-1.93
-0.97
-0.57
-1.20
-0.79
-0.90
1.59
4.69
-0.72
-0.44
-0.33
-1.80
-3.52
-0.41
1.76
2.09
-0.62
Correlation
0.54
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
NTPC and BSE SENSEX it shows that there exists a positive correlation
between both the scripts. Thus we can say that both the markets are
going according to the market conditions. If we see the returns of NTPC
it has some negative returns (-7.87,-5.05,-2.94,-1.91,-1.86,-1.55) but still
the overall correlation is positive.
CORRELATION OF RETURNS BETWEEN NTPC AND BSE SENSEX
FOR THE MONTH OF DEC-2007.
96
S.No
Date
RETURNS OF NTPC
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
3-Dec-07
4-Dec-07
5-Dec-07
6-Dec-07
7-Dec-07
10-Dec-07
11-Dec-07
12-Dec-07
13-Dec-07
14-Dec-07
17-Dec-07
18-Dec-07
19-Dec-07
20-Dec-07
24-Dec-07
26-Dec-07
27-Dec-07
28-Dec-07
31-Dec-07
2.21
-0.44
2.49
0.04
0.24
-1.85
0.95
3.12
-2.15
0.45
-7.60
1.62
-1.25
-0.02
3.41
1.27
0.23
0.50
3.94
RETURNS OF
BSE SENSEX
2.49
-0.38
1.07
0.29
0.86
-0.18
1.81
0.42
-1.33
-0.37
-3.84
-0.94
0.06
0.37
3.61
1.70
0.12
-0.05
0.40
Correlation
0.78
GRAPHICAL REPRESENTATION
The above table and graph represents the correlation of returns between
NTPC and BSE SENSEX it shows that there exists a positive correlation
between both the scripts. Thus we can say that both the markets are
going according to the market conditions. If we see the returns of NTPC
it has some negative returns ( -7.60,-2.15,-1.85,-1.25,-0.44) but still the
overall correlation is positive
97
1.
2.
3.
4.
5.
6.
98
99
100
R=
Sum x*y
Sqrt (sum x**2) * sqrt (sum y**2)
x = X-Avg (Avg1 = Average of first series)
y = Y-Avg (Avg2 = Average of second series)
u= X-A1
v= Y-A2
101
OBJECTIVES OF SENSEX:
1. to measure market movements.
2. Benchmark for funds performance.
FORMS OF SENSEX:
BSE, NSE, S&P 100, BL, ET-500, ChSE, HSE, CSE, BaSE
BSE consist of: BSE-30, BSE-100, BSE-TECK, BSE IT, BSEPSU,
BANKEX
102
BIBLIOGRAPHY
I. Reference Books:
S.No Name of the book
Name of Author
Edition
1.
6th Edition
Management
Rinald J.Jordon
2.
3.
Prasanna Chandra
Economic Times
2.
Business Line
III. Websites
1.
www.bseindia.com
2.
www.reliance-energy.com
3.
www.ntpc.co.in
103
2nd Edition