CHAPTER-I

INTRODUCTION
1.1 INTRODUCTION TO CAPITAL MARKET REFORMS

Capital markets reforms in the United States provide the lifeblood of capitalism.
Companies turn to them to raise funds needed to finance the building of factories, office
buildings, airplanes, trains, ships, telephone lines, and other assets; to conduct research and
development; and to support a host of other essential corporate activities. Much of the money
comes from such major institutions as pension funds, insurance companies, banks ,
foundations, and colleges and universities. Increasingly, it comes from individuals as well. As
noted in chapter 3, more than 40 percent of U.S. families owned common stock in the mid-
1990s.

Very few investors would be willing to buy shares in a company unless they knew
they could sell them later if they needed the funds for some other purpose. The stock market
and other capital markets allow investors to buy and sell stocks continuously.

The markets play several other roles in the American economy as well. They are a
source of income for investors. When stocks or other financial assets rise in value, investors
become wealthier; often they spend some of this additional wealth, bolstering sales and
promoting economic growth. Moreover, because investors buy and sell shares daily on the
basis of their expectations for how profitable companies will be in the future, stock prices
provide instant feedback to corporate executives about how investors judge their
performance.
Stock values reflect investor reactions to government policy as we<,/ll. If the government
adopts policies that investors believe will hurt the economy and company profits, the market
declines; if investors believe policies will help the economy, the market rises. Critics have
sometimes suggested that American investors focus too much on short-term profits; often,
these analysts say, companies or policy-makers are discouraged from taking steps that will
prove beneficial in the long run because they may require short-term adjustments that will
depress stock prices. Because the market reflects the sum of millions of decisions by millions
of investors, there is no good way to test this theory.

In any event, Americans pride themselves on the efficiency of their stock market and
other capital markets, which enable vast numbers of sellers and buyers to engage in millions
of transactions each day. These markets owe their success in part to computers, but they also
depend on tradition and trust -- the trust of one broker for another and the trust of both in the
good faith of the customers they represent to deliver securities after a sale or to pay for
purchases. Occasionally, this trust is abused. But during the last half century, the federal
government has played an increasingly important role in ensuring honest and equitable
dealing. As a result, markets have thrived as continuing sources of investment funds that keep
the economy growing and as devices for letting many Americans share in the nation's wealth.

To work effectively, markets require the free flow of information. Without it,
investors cannot keep abreast of developments or gauge, to the best of their ability, the true
value of stocks. Numerous sources of information enable investors to follow the fortunes of
the market daily, hourly, or even minute-by-minute. Companies are required by law to issue
quarterly earnings reports, more elaborate annual reports, and proxy statements to tell
stockholders how they are doing. In addition, investors can read the market pages of daily
newspapers to find out the price at which particular stocks were traded during the previous
trading session. They can review a variety of indexes that measure the overall pace of market
activity; the most notable of these is the Dow Jones Industrial Average (DJIA), which tracks
30 prominent stocks. Investors also can turn to magazines and newsletters devoted to
analyzing particular stocks and markets. Certain cable television programs provide a constant
flow of news about movements in stock prices. And now, investors can use the Internet to get
up-to-the-minute information about individual stocks and even to arrange stock transactions.
1.2 OBJECTIVE OF THE STUDY

This study is done to know about Primary and Secondary capital market (reforms)
activities.

1) To know why the companies go to new issue market.

2) To know how the primary market intermediaries communicate companies and
investors.
3) To know how the primary market activities used by the companies in their new issue
shares.
4) To know how the companies listed in the stock exchanges.
5) To know how trading activity is to be done.
6) To know the complete awareness of secondary market (stock exchanges like NSE,
BSE).
7) To study about the Capital Market Instruments.
8) To study about Dematerialization or Demit in the stock exchange for easy
Transfer and error prone system.
9) Knowing about the latest and future developments is the stock exchange system.
10) Recent development in derivatives market.
1.3 NEED FOR THE STUDY

The project idea is to capital market reforms instruments as better avenue for investment on a

long term basis. the capital market consists of primary and secondary market. The primary

market deals with the issue of new instrument by the corporate sector. The secondary market

is a market for trading and settlement of securities that have already been issued. Capital

market intermediaries that provide important infrastructure service for both primary and

secondary market. Thus through the study of capital market delays in settlement cycle and

bad deliveries knowing the which shares is better to the investor choosing risk less securities

are provided.

Capital market reforms deals with long term funds. These funds are subject to uncertainty and
risk. It supplies long term funds and medium term funds to the corporate sector. It provides
the mechanism for facilitating capital fund trasactions.It deals with ordinary shares,
debentures and stocks and securities of the governments. In this market the funds flow will
come from savers. It converts financial assets in to productive physical assets. It provides
incentives to savers in the form of interest or dividend to the investors.
The following factors play an important role in the growth of capital market:
 A strong and powerful government
 Financial dynamics
 Speedy industrialization
 Attracting oreign investments
 Investments from NRI’S
 Speedy implementation of policies
 Globalization
 Development of financial theories
 Sophisticated technological advices
1.4 SCOPE OF THE STUDY

The present study involves an analysis of various Capital Market Instruments that are
available in the market, analysis of Dematerialization and limited lists of securities that are
available for trading in corporate

‘Investor can assess the company financial strength and factors that effect the company.
Scope of the study is limited. We can say that 70% of the analysis is proved good for the
investor, but the 30% depends upon market sentiment.

The topic is selected to analyses the factors that affect the future EPS of a company based on
fundamentals of the company.

The current study involves a variety of work in economics, accounting and finance in this.
Valuation of stocks and functions of the stock markets, valuation of bonds convertible
debentures and market for debt, issue market and merchant banking, market efficiency,
dividends, bonus and right issues rates of return and regulations.
1.5 METHODOLOGY

The data collection methods include both the Primary and Secondary Collection
methods.

1. Primary Collection Methods:

This method includes the data collected from the personal discussions with the
authorized clerks and members of the Exchange.

2. Secondary Collection Methods:

The Secondary Collection Methods includes the lectures of the superintend of
the Department of Market Operations, EDP etc, and also the data collected from the
News, Magazines of the NSE and different books issues of this study.
1.6 LIMITATIONS OF STUDY

1) Time constraint was a major limiting factor. Forty five days were insufficient to even
grasp the theoretical concepts.

2) Several other strategies that could have been studied were not done.

3) Lack of knowledge with the brokers.

4) Difference of theory from practice.

5) Absence of required knowledge and technology.

6) Forty five days were insufficient to go on with the study. Since the time constraint
was not enough.

7) Most of the implementation and strategies studied were not properly used.

8) Improper communication channel with speculators.

9) A small difference makes feel difficult about theory and practices.

10) An improper absence of information about technology

 CHAPTER-II

INDUSTRY PROFILE

&

COMPANY PROFILE
A bank is a financial institution that accepts deposits and channels those deposits into
lending activities. Banks primarily provide financial services to customers while enriching
investors. Government restrictions on financial activities by banks vary over time and
location. Banks are important players in financial markets and offer services such as
investment funds and loans. In some countries such as Germany, banks have historically
owned major stakes in industrial corporations while in other countries such as the United
States banks are prohibited from owning non-financial companies. In Japan, banks are
usually the nexus of a cross-share holding entity known as the keiretsu. In France,
bancassurance is prevalent, as most banks offer insurance services (and now real estate
services) to their clients.

Introduction

India’s banking sector is constantly growing. Since the turn of the century, there has been a
noticeable upsurge in transactions through ATMs, and also internet and mobile banking.
Following the passing of the Banking Laws (Amendment) Bill by the Indian Parliament in
2014, the landscape of the banking industry began to change. The bill allows the Reserve
Bank of India (RBI) to make final guidelines on issuing new licenses, which could lead to a
bigger number of banks in the country. Some banks have already received licences from the
government, and the RBI's new norms will provide incentives to banks to spot bad loans and
take requisite action to keep rogue borrowers in check.
Over the next decade, the banking sector is projected to create up to two million new jobs,
driven by the efforts of the RBI and the Government of India to integrate financial services
into rural areas. Also, the traditional way of operations will slowly give way to modern
technology.

Market size

Total banking assets in India touched US$ 1.8 trillion in FY13 and are anticipated to cross
US$ 28.5 trillion in FY25.
Bank deposits have grown at a compound annual growth rate (CAGR) of 21.2 per cent over
FY06–13. Total deposits in FY13 were US$ 1,274.3 billion.
Total banking sector credit is anticipated to grow at a CAGR of 18.1 per cent (in terms of
INR) to reach US$ 2.4 trillion by 2017.
In FY14, private sector lenders witnessed discernable growth in credit cards and personal
loan businesses. KOTAK MAHINDRA Bank witnessed 141.6 per cent growth in personal
loan disbursement in FY14, as per a report by Emkay Global Financial Services. Axis Bank's
personal loan business also rose 49.8 per cent and its credit card business expanded by 31.1
per cent.

Investments

Bengaluru-based software services exporter Mphasis Ltd has bagged a five-year contract
from Punjab National Bank (PNB) to set up the bank’s contact centres in Mangalore and
Noida (UP). Mphasis will provide support for all banking products and services, including
deposits operations, lending services, banking processes, internet banking, and account and
card-related services. The company will also offer services in multiple languages.
Microfinance companies have committed to setting up at least 30 million bank accounts
within a year through tie-ups with banks, as part of the Indian government’s financial
inclusion plan. The commitment was made at a meeting of representatives of 25 large
microfinance companies and banks and government representatives, which included financial
services secretary Mr GS Sandhu.
Export-Import Bank of India (Exim Bank) will increase its focus on supporting project
exports from India to South Asia, Africa and Latin America, as per Mr Yaduvendra Mathur,
Chairman and MD, Exim Bank. The bank has moved up the value chain by supporting
project exports so that India earns foreign exchange. In 2014–13, Exim Bank lent support to
85 project export contracts worth Rs 24,255 crore (US$ 3.96 billion) secured by 47
companies in 23 countries.

Government Initiatives

The RBI has given banks greater flexibility to refinance current long-gestation project loans
worth Rs 1,000 crore (US$ 163.42 million) and more, and has allowed partial buyout of such
loans by other financial institutions as standard practice. The earlier stipulation was that
buyers should purchase at least 50 per cent of the loan from the existing banks. Now, they get
as low as 25 per cent of the loan value and the loan will still be treated as ‘standard’.
The RBI has also relaxed norms for mortgage guarantee companies (MGC) enabling these
firms to use contingency reserves to cover for the losses suffered by the mortgage guarantee
holders, without the approval of the apex bank. However, such a measure can only be
initiated if there is no single option left to recoup the losses.
SBI is planning to launch a contact-less or tap-and-go card facility to make payments in
India. Contact-less payment is a technology that has been adopted in several countries,
including Australia, Canada and the UK, where customers can simply tap or wave their card
over a reader at a point-of-sale terminal, which reads the card and allows transactions.
SBI and its five associate banks also plan to empower account holders at the bottom of the
social pyramid with a customer call facility. The proposed facility will help customers get an
update on available balance, last five transactions and cheque book request on their mobile
phones.

Road Ahead
India is yet to tap into the potential of mobile banking and digital financial services. Forty-
seven per cent of the populace have bank accounts, of which half lie dormant due to reliance
on cash transactions, as per a report. Still, the industry holds a lot of promise.
India's banking sector could become the fifth largest banking sector in the world by 2020 and
the third largest by 2025. These days, Indian banks are turning their focus to servicing clients
and enhancing their technology infrastructure, which can help improve customer experience
as well as give banks a competitive edge.
Exchange Rate Used: INR 1 = US$ 0.0163 as on October 28, 2016

The level of government regulation of the banking industry varies widely, with countries such
as Iceland, having relatively light regulation of the banking sector, and countries such as
China having a wide variety of regulations but no systematic process that can be followed
typical of a communist system.

The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy,
which has been operating continuously since 1472.

History

Origin of the word

The name bank derives from the Italian word banco "desk/bench", used during the
Renaissance by Jewish Florentine bankers, who used to make their transactions above a desk
covered by a green tablecloth. However, there are traces of banking activity even in ancient
times, which indicates that the word 'bank' might not necessarily come from the word 'banco'.

In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders
would set up their stalls in the middle of enclosed courtyards called macella on a long bench
called a bancu, from which the words banco and bank are derived. As a moneychanger, the
merchant at the bancu did not so much invest money as merely convert the foreign currency
into the only legal tender in Rome—that of the Imperial Mint.

The earliest evidence of money-changing activity is depicted on a silver drachm coin from
ancient Hellenic colony Trapezus on the Black Sea, modern Trabzon, c. 350–325 BC,
presented in the British Museum in London. The coin shows a banker's table (trapeza) laden
with coins, a pun on the name of the city.

In fact, even today in Modern Greek the word Trapeza (Τράπεζα) means both a table and a
bank.

Traditional banking activities

Banks act as payment agents by conducting checking or current accounts for customers,
paying cheques drawn by customers on the bank, and collecting cheques deposited to
customers' current accounts. Banks also enable customer payments via other payment
methods such as telegraphic transfer, EFTPOS, and ATM.

Banks borrow money by accepting funds deposited on current accounts, by accepting term
deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by
making advances to customers on current accounts, by making installment loans, and by
investing in marketable debt securities and other forms of money lending.

Banks provide almost all payment services, and a bank account is considered indispensable
by most businesses, individuals and governments. Non-banks that provide payment services
such as remittance companies are not normally considered an adequate substitute for having a
bank account.

Banks borrow most funds from households and non-financial businesses, and lend most funds
to households and non-financial businesses, but non-bank lenders provide a significant and in
many cases adequate substitute for bank loans, and money market funds, cash management
trusts and other non-bank financial institutions in many cases provide an adequate substitute
to banks for lending savings to.

Entry regulation

Currently in most jurisdictions commercial banks are regulated by government entities and
require a special bank licence to operate.

Usually the definition of the business of banking for the purposes of regulation is extended to
include acceptance of deposits, even if they are not repayable to the customer's order—
although money lending, by itself, is generally not included in the definition.

Unlike most other regulated industries, the regulator is typically also a participant in the
market, i.e. a government-owned (central) bank. Central banks also typically have a
monopoly on the business of issuing banknotes. However, in some countries this is not the
case. In the UK, for example, the Financial Services Authority licences banks, and some
commercial banks (such as the Bank of Scotland) issue their own banknotes in addition to
those issued by the Bank of England, the UK government's central bank.

Accounting for bank accounts

Bank statements are accounting records produced by banks under the various accounting
standards of the world. Under GAAP and IFRS there are two kinds of accounts: debit and
credit. Credit accounts are Revenue, Equity and Liabilities. Debit Accounts are Assets and
Expenses. This means you credit a credit account to increase its balance, and you debit a
debit account to decrease its balance.

This also means you debit your savings account every time you deposit money into it (and the
account is normally in deficit), while you credit your credit card account every time you
spend money from it (and the account is normally in credit).

However, if you read your bank statement, it will say the opposite—that you credit your
account when you deposit money, and you debit it when you withdraw funds. If you have
cash in your account, you have a positive (or credit) balance; if you are overdrawn, you have
a negative (or deficit) balance.

The reason for this is that the bank, and not you, has produced the bank statement. Your
savings might be your assets, but the bank's liability, so they are credit accounts (which
should have a positive balance). Conversely, your loans are your liabilities but the bank's
assets, so they are debit accounts (which should also have a positive balance).

Where bank transactions, balances, credits and debits are discussed below, they are done so
from the viewpoint of the account holder—which is traditionally what most people are used
to seeing.

Economic functions

1. issue of money, in the form of banknotes and current accounts subject to cheque or
payment at the customer's order. These claims on banks can act as money because
they are negotiable and/or repayable on demand, and hence valued at par. They are
effectively transferable by mere delivery, in the case of banknotes, or by drawing a
cheque that the payee may bank or cash.
2. netting and settlement of payments – banks act as both collection and paying agents
for customers, participating in interbank clearing and settlement systems to collect,
present, be presented with, and pay payment instruments. This enables banks to
economise on reserves held for settlement of payments, since inward and outward
payments offset each other. It also enables the offsetting of payment flows between
geographical areas, reducing the cost of settlement between them.
3. credit intermediation – banks borrow and lend back-to-back on their own account as
middle men.
4. credit quality improvement – banks lend money to ordinary commercial and personal
borrowers (ordinary credit quality), but are high quality borrowers. The improvement
comes from diversification of the bank's assets and capital which provides a buffer to
absorb losses without defaulting on its obligations. However, banknotes and deposits
are generally unsecured; if the bank gets into difficulty and pledges assets as security,
to raise the funding it needs to continue to operate, this puts the note holders and
depositors in an economically subordinated position.
5. maturity transformation – banks borrow more on demand debt and short term debt,
but provide more long term loans. In other words, they borrow short and lend long.
With a stronger credit quality than most other borrowers, banks can do this by
aggregating issues (e.g. accepting deposits and issuing banknotes) and redemptions
(e.g. withdrawals and redemptions of banknotes), maintaining reserves of cash,
investing in marketable securities that can be readily converted to cash if needed, and
 raising replacement funding as needed from various sources (e.g. wholesale cash
markets and securities markets).

Law of banking

Banking law is based on a contractual analysis of the relationship between the bank (defined
above) and the customer—defined as any entity for which the bank agrees to conduct an
account.

The law implies rights and obligations into this relationship as follows:

1. The bank account balance is the financial position between the bank and the
customer: when the account is in credit, the bank owes the balance to the customer;
when the account is overdrawn, the customer owes the balance to the bank.
2. The bank agrees to pay the customer's cheques up to the amount standing to the credit
of the customer's account, plus any agreed overdraft limit.
3. The bank may not pay from the customer's account without a mandate from the
customer, e.g. a cheque drawn by the customer.
4. The bank agrees to promptly collect the cheques deposited to the customer's account
as the customer's agent, and to credit the proceeds to the customer's account.
5. The bank has a right to combine the customer's accounts, since each account is just an
aspect of the same credit relationship.
6. The bank has a lien on cheques deposited to the customer's account, to the extent that
the customer is indebted to the bank.
7. The bank must not disclose details of transactions through the customer's account—
unless the customer consents, there is a public duty to disclose, the bank's interests
require it, or the law demands it.
8. The bank must not close a customer's account without reasonable notice, since
cheques are outstanding in the ordinary course of business for several days.

These implied contractual terms may be modified by express agreement between the
customer and the bank. The statutes and regulations in force within a particular jurisdiction
may also modify the above terms and/or create new rights, obligations or limitations relevant
to the bank-customer relationship.
Some types of financial institution, such as building societies and credit unions, may be partly
or wholly exempt from bank licence requirements, and therefore regulated under separate
rules.

The requirements for the issue of a bank licence vary between jurisdictions but typically
include:

1. Minimum capital
2. Minimum capital ratio
3. 'Fit and Proper' requirements for the bank's controllers, owners, directors, and/or
senior officers
4. Approval of the bank's business plan as being sufficiently prudent and plausible.

Types of banks

Banks' activities can be divided into retail banking, dealing directly with individuals and
small businesses; business banking, providing services to mid-market business; corporate
banking, directed at large business entities; private banking, providing wealth management
services to high net worth individuals and families; and investment banking, relating to
activities on the financial markets. Most banks are profit-making, private enterprises.
However, some are owned by government, or are non-profit organizations.

Central banks are normally government-owned and charged with quasi-regulatory

responsibilities, such as supervising commercial banks, or controlling the cash interest rate.
They generally provide liquidity to the banking system and act as the lender of last resort in
event of a crisis.

Types of retail banks

 Commercial bank: the term used for a normal bank to distinguish it from an
investment bank. After the Great Depression, the U.S. Congress required that banks
only engage in banking activities, whereas investment banks were limited to capital
market activities. Since the two no longer have to be under separate ownership, some
use the term "commercial bank" to refer to a bank or a division of a bank that mostly
deals with deposits and loans from corporations or large businesses.
 Community Banks: locally operated financial institutions that empower employees to
make local decisions to serve their customers and the partners.
  Community development banks: regulated banks that provide financial services and
credit to under-served markets or populations.
 Postal savings banks: savings banks associated with national postal systems.
 Private banks: banks that manage the assets of high net worth individuals.
 Offshore banks: banks located in jurisdictions with low taxation and regulation. Many
offshore banks are essentially private banks.
 Savings bank: in Europe, savings banks take their roots in the 19th or sometimes even
18th century. Their original objective was to provide easily accessible savings
products to all strata of the population. In some countries, savings banks were created
on public initiative; in others, socially committed individuals created foundations to
put in place the necessary infrastructure. Nowadays, European savings banks have
kept their focus on retail banking: payments, savings products, credits and insurances
for individuals or small and medium-sized enterprises. Apart from this retail focus,
they also differ from commercial banks by their broadly decentralised distribution
network, providing local and regional outreach—and by their socially responsible
approach to business and society.
 Building societies and Landesbanks: institutions that conduct retail banking.
 Ethical banks: banks that prioritize the transparency of all operations and make only
what they consider to be socially-responsible investments.
 Islamic banks: Banks that transact according to Islamic principles.

Types of investment banks

 Investment banks "underwrite" (guarantee the sale of) stock and bond issues, trade for
their own accounts, make markets, and advise corporations on capital market
activities such as mergers and acquisitions.
 Merchant banks were traditionally banks which engaged in trade finance. The modern
definition, however, refers to banks which provide capital to firms in the form of
shares rather than loans. Unlike venture capital firms, they tend not to invest in new
companies.

Both combined

 Universal banks, more commonly known as financial services companies, engage in

several of these activities. These big banks are very diversified groups that, among
 other services, also distribute insurance— hence the term bancassurance, a
portmanteau word combining "banque or bank" and "assurance", signifying that both
banking and insurance are provided by the same corporate entity.

Other types of banks

 Islamic banks adhere to the concepts of Islamic law. This form of banking revolves
around several well-established principles based on Islamic canons. All banking
activities must avoid interest, a concept that is forbidden in Islam. Instead, the bank
earns profit (markup) and fees on the financing facilities that it extends to customers.
 COMPANY PROFILE

Kotak Mahindra Bank is the fourth largest Indian private sector bank by market
capitalization, headquartered in Mumbai, Maharashtra.

Since the inception of the erstwhile Kotak Mahindra Finance Limited in 1985, it has been a
steady and confident journey leading to growth and success. The milestones of the group
growth story are listed below year wise.

2012-2016  Ahmedabad Derivatives and Commodities Exchange, a Kotak

anchored enterprise, became operational as a national commodity
exchange.

 Kotak Mahindra Bank Ltd. opened a representative office in Dubai

2009
 Entered Ahmedabad Commodity Exchange as anchor investor.

 Launched a Pension Fund under the New Pension System.

2008

 Bought the 25% stake held by Goldman Sachs in Kotak Mahindra Capital
2006
Company and Kotak Securities.

 Kotak Group realigned joint venture in Ford Credit; their stake in Kotak
2005
Mahindra Prime was bought out (formerly known as Kotak Mahindra Primus
Ltd) and Kotak group’s stake in Ford credit Kotak Mahindra was sold.
 Launched a real estate fund.

 Launched India Growth Fund, a private equity fund.

2004

 Kotak Mahindra Finance Ltd. converted into a commercial bank - the first
2003
Indian company to do so.
  Matrix sold to Friday Corporation.
2001
 Launched Insurance Services.
 Kotak Securities Ltd. was incorporated

 Kotak Mahindra tied up with Old Mutual plc. for the Life Insurance
2000
business.
 Kotak Securities launched its on-line broking site.
 Commencement of private equity activity through setting up of Kotak
Mahindra Venture Capital Fund.

 Entered the mutual fund market with the launch of Kotak Mahindra Asset
Management Company.
1998

 The Auto Finance Business is hived off into a separate company - Kotak
1996
Mahindra Prime Limited (formerly known as Kotak Mahindra Primus
Limited). Kotak Mahindra takes a significant stake in Ford Credit Kotak
 Mahindra Limited, for financing Ford vehicles. The launch of Matrix
Information Services Limited marks the Group's entry into information
distribution.

 Brokerage and Distribution businesses incorporated into a separate company

1995
- Securities. Investment banking division incorporated into a separate
company - Kotak Mahindra Capital Company

 Entered the Funds Syndication sector

1992

 The Investment Banking Division was started. Took over FICOM, one of
1991
India's largest financial retail marketing networks
  The Auto Finance division was started
1990

 Kotak Mahindra Finance Ltd entered the Lease and Hire Purchase market
1987

 Kotak Mahindra Finance Ltd started the activity of Bill Discounting

1986

Our Businesses

Multiple businesses. One brand.

Kotak Mahindra is one of India's leading banking and financial services groups, offering a
wide range of financial services that encompass every sphere of life.

Kotak Mahindra Bank Ltd

 Kotak Mahindra Bank Ltd is a one stop shop for all banking needs.
The bank offers personal finance solutions of every kind from savings accounts to
credit cards, distribution of mutual funds to life insurance products. Kotak Mahindra
Bank offers transaction banking, operates lending verticals, manages IPOs and
provides working capital loans. Kotak has one of the largest and most respected
Wealth Management teams in India, providing the widest range of solutions to high
net worth individuals, entrepreneurs, business families and employed professionals.

For more information, please visit the Kotak Mahindra Bank website
www.kotak.com/bank/personal-banking/
Kotak Mahindra Old Mutual Life Insurance Ltd

 Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint

venture between Kotak Mahindra Bank Ltd., its affiliates and Old Mutual plc. A
Company that combines its international strengths and local advantages to offer its
customers a wide range of innovative life insurance products, helping them take
important financial decisions at every stage in life and stay financially independent.
The company covers over 3 million lives and is one of the fastest growing insurance
companies in India. www.kotaklifeinsurance.com

Kotak Securities Ltd

 Kotak Securities is one of the largest broking houses in India with a

wide geographical reach. Kotak Securities operations include stock broking and
distribution of various financial products including private and secondary placement
of debt, equity and mutual funds.

Kotak Securities operate in five main areas of business:

o Stock Broking (retail and institutional)

o Depository Services
o Portfolio Management Services
o Distribution of Mutual Funds
o Distribution of Kotak Mahindra Old Mutual Life Insurance Ltd products

For more information, please visit the Kotak Securities website

www.kotaksecurities.com
Kotak Mahindra Capital Company (KMCC)

 Kotak Investment Banking (KMCC) is a full-service investment

bank in India offering a wide suite of capital market and advisory solutions to leading
domestic and multinational corporations, banks, financial institutions and government
companies.

Our services encompass Equity & Debt Capital Markets, M&A Advisory, Private
Equity Advisory, Restructuring and Recapitalization services, Structured Finance
services and Infrastructure Advisory & Fund Mobilization.

For more information, please visit the Kotak Investment Banking website
www.kmcc.co.in

Kotak Mahindra Prime Ltd (KMPL)

 Kotak Mahindra Prime Ltd is among India's largest dedicated

passenger vehicle finance companies. KMPL offers loans for the entire range of
passenger cars, multi-utility vehicles and pre-owned cars. Also on offer are inventory
funding and infrastructure funding to car dealers with strategic arrangements via
various car manufacturers in India as their preferred financier.

For more information, please visit the KMPL website http://carloan.kotak.com

Kotak International Business

 Kotak International Business specialises in providing a range of

services to overseas customers seeking to invest in India. For institutions and high net
worth individuals outside India, Kotak International Business offers asset
management through a range of offshore funds with specific advisory and
discretionary investment management services.
 For more information, please visit the Kotak Mahindra International Business website
www.investindia.kotak.com

Kotak Mahindra Asset Management Company Ltd (KMAMC)

 Kotak Mahindra Asset Management Company offers a complete

bouquet of asset management products and services that are designed to suit the
diverse risk return profiles of each and every type of investor. KMAMC and Kotak
Mahindra Bank are the sponsors of Kotak Mahindra Pension Fund Ltd, which has
been appointed as one of six fund managers to manage pension funds under the New
Pension Scheme (NPS).

For more information, please visit the KMAMC website

www.kotakmutual.com/kmw/main.htm

Kotak Private Equity Group (KPEG)

 Kotak Private Equity Group helps nurture emerging businesses and

mid-size enterprises to evolve into tomorrow's industry leaders. With a proven track
record of helping build companies, KPEG also offers expertise with a combination of
equity capital, strategic support and value added services. What differentiates KPEG
is not merely funding companies, but also having a close involvement in their growth
as board members, advisors, strategists and fund-raisers.

For more information, please visit the KPEG website

www.privateequityfund.kotak.com

Kotak Realty Fund

 Kotak Realty Fund deals with equity investments covering sectors

such as hotels, IT parks, residential townships, shopping centres, industrial real estate,
health care, retail, education and property management. The investment focus here is
 on development projects and enterprise level investments, both in real estate intensive
businesses.

For more information, please visit the Kotak Realty Fund website
www.realtyfund.kotak.com

Senior Management-2016-15

Mr. Uday S. Kotak

Executive Vice Chairman and Managing Director

Mr. Uday Kotak, is the Executive Vice-Chairman and Managing Director of the Bank, and its
principal founder and promoter. Mr. Kotak is an alumnus of Jamnalal Bajaj Institute of
Management Studies.

In 1985, when he was still in his early twenties, Mr Kotak thought of setting up a bank when
private Indian banks were not even seen in the game. First Kotak Capital Management
Finance Ltd (which later became Kotak Mahindra Finance Ltd), and then with Kotak
Mahindra Finance Ltd, Kotak became the first non-banking finance company in India's
corporate history to be converted into a bank. Over the years, Kotak Mahindra Group grew
into several areas like stock broking and investment banking to car finance, life insurance and
mutual funds.

Among the many awards to Mr Kotak's credit are the CNBC TV18 Innovator of the Year
Award in 2006 and the Ernst & Young Entrepreneur of the Year Award in 2003. He was
featured as one of the Global Leaders for Tomorrow at the World Economic Forum's annual
meet at Davos in 1996. He was also featured among the Top Financial Leaders for the 21st
Century by Euromoney magazine. He was named as CNBC TV18 India Business Leader of
the Year 2008 and as the most valued CEO by businessworld in 2012.

Mr. C Jayaram

Joint Managing Director

Mr. C. Jayaram, is a Joint Managing Director of the Bank and is currently in charge of the
Wealth Management Business of the Kotak Group. An alumnus of IIM Kolkata, he has been
with the Kotak Group since 1990 and member of the Kotak board in October 1999. He also
oversees the international subsidiaries and the alternate asset management business of the
group. He is the Director of the Financial Planning Standards Board, India. He has varied
experience of over 25 years in many areas of finance and business, has built numerous
businesses for the Group and was CEO of Kotak Securities Ltd. An avid player and follower
of tennis, he also has a keen interest in psephology.

Mr. Dipak Gupta

Joint Managing Director

An electronics engineer and an alumnus of IIM Ahmedabad, Mr. Gupta has been with the
Kotak Group since 1992 and joined the board in October 1999.

He heads commercial banking, retail asset businesses and looks after group HR function.
Early on, he headed the finance function and was instrumental in the joint venture between
Kotak Mahindra and Ford Credit International. He was the first CEO of the resulting entity,
Kotak Mahindra Primus Ltd.

Awards

Recent achievements

At Kotak Mahindra Group we take a client-centric view and constantly innovate to provide
you with the best of services and infrastructure. We have regularly received accolades that
stand testimony to our success in this endeavour. Some of our recent achievements are:

 Won ‘Gold Award for Best Innovation – World’s first socially powered bank account’
and ‘Gold Award for Best App developed – World’s first banking application using
Twitter’ awards at the Indian Digital Media Awards 2016 for Kotak Jifi
 Recognised as Highest Fundraising Company in Corporate Challenge category in
Standard Chartered Mumbai Marathon 2016
 Kotak Mahindra Bank was ranked 292nd among India's most trusted brands according
to the Brand Trust Report 2014, a study conducted by Trust Research Advisory. In the
Brand Trust Report 2015, Kotak Mahindra Bank was ranked 861st among India's
 most trusted brands and subsequently, according to the Brand Trust Report 2016,
Kotak Mahindra Bank was ranked 114th among India's most trusted brands.
 Adjudged Best Bank among Emerging Banks at Outlook Money Awards 2015

Banking

 Euromoney
Best Private Banking Services (India), 2016.
 ICAI Award
Excellence in Financial Reporting under Category 1 - Banking Sector for the year
ending 31st March, 2014
 Asiamoney
Best Local Cash Management Bank 2014
 IDG India
Kotak won the CIO 100 'The Agile 100' award 2013
 IDRBT
Banking Technology Excellence Awards Best Bank Award in IT Framework and
Governance Among Other Banks' - 2012
Banking Technology Award for IT Governance and Value Delivery, 2008
 IR Global Rankings
Best Corporate Governance Practices - Ranked among the top 5 companies in Asia
Pacific, 2009
 FinanceAsia
Best Private Bank in India, for Wealth Management business, 2009
 Kotak Royal Signature Credit Card
Was chosen "Product of the Year" in a survey conducted by Nielsen in 2009
 IBA Banking Technology Awards
Best Customer Relationship Achievement - Winner 2008 & 2009
Best overall winner, 2007
Best IT Team of the Year, 4 years in a row from 2006 to 2009
Best IT Security Policies & Practices, 2007
 Euromoney
Best Private Banking Services (overall), 2009
  Emerson Uptime Champion Awards
Technology Senate Emerson Uptime Championship Award in the BFSI category,
2008

Miscellaneous

 Best Local Trade Bank in India

The UK based Trade & Forfaiting Review awarded Kotak Mahindra Bank Ltd. the
Bronze Award in the category of Best Local Trade Bank in India at the TFR Awards
2013.
 LACP Vision Awards 2012 for Annual Report 2012-11
Platinum Award - Best among Banking Category, APAC
Gold Award - Most Creative Report, APAC
Ranked No. 21 among Top 50 Reports, APAC
Ranked No. 87 among the World's Top 100 Annual Reports
 Businessworld
'Most Valuable CEO' overall, 2012 awarded to Mr. Uday Kotak, Executive Vice
Chairman & Managing Director
 CNBCTV 18
'Best Performing CFO in the Banking/Financial Services sector by CNBCTV 18 CFO
Awards 2012 awarded to Mr. Jaimin Bhatt
 GIREM
GIREM awarded Kotak Realty Funds Group, the "Investor of the Year" Award for
2009
 IBA Banking Technology Awards
Best Use of Business Intelligence - up, 2008
Best Enterprise Risk Management - Runner up, 2008
 The Great Places to Work Institute, India
Best Workplaces in India, 2008
 Hewitt
10th Best Employer in India, 2007, 2008 & 2009
 Financial Insights Innovation Award
Best Innovation in Enterprise Security Management in the Asia Pacific Region, 2009
  Frost & Sullivan
Best Passenger Vehicle Finance Company in India, 2006
 CNBC TV 18
Indian Business Leader of the Year, 2008 awarded to Uday Kotak, Executive Vice
Chairman & Managing Director

Banking information

The Bank publishes the standalone and consolidated results on a quarterly basis. The
standalone results is subjected to "Limited Review" by the auditors of the Bank. The same are
also reviewed by the Audit Committee before submission to the Board. Along with the
quarterly results, an earnings update is also prepared and posted on the website of the Bank.
Every quarter, the Executive Vice-Chairman and Managing Director and the Executive
Director(s) participate on a call with the analysts / shareholders, the transcripts of which are
posted on the website of the Bank. The Bank also has dedicated personnel to respond to
queries from investors.

Financial Calendar:For each calendar quarter, the financial results are reviewed and taken
on record by the Board during the last week of the month subsequent to the quarter ending.
The audited annual accounts as at 31st March are approved by the Board, after a review
thereof by the Audit Committee. The Annual General Meeting to consider such annual
accounts is held in the second quarter of the financial year.

Stock Exchanges on which listed:

Sr.No Name & Address of Stock Exchange Market Scrip Code

The Bombay Stock Exchange Limited

Phiroze Jeejeebhoy Towers
1 500247
Dalal Street, Fort,
Mumbai 400 023

National Stock Exchange of India Limited

Exchange Plaza, 5th Floor,
2 KOTAKBANK
Bandra-Kurla Complex,
Bandra, Mumbai 400 051
 Luxembourg Stock Exchange BP 165, L-2013
3
Luxembourg

Trading of shares to be in compulsorily dematerialized form:The equity shares of the

Bank have been activated for dematerialisation with the National Securities Depository
Limited and with the Central Depository Services (India) Limited vide ISIN INE237A01028.

Share Transfer System: Applications for transfers, transmission and transposition are
received by the Bank at its Registered Office or at the office(s) of its Registrars & Share
Transfer Agents. As the shares of the Bank are in dematerialised form, the transfers are duly
processed by NSDL/CDSL in electronic form through the respective depository participants.
Shares which are in physical form are processed by the Registrars & Share Transfer Agents,
Karvy Computershare Private Limited, on a regular basis and the certificates despatched
directly to the investors.

Investor Helpdesk:Share transfers, dividend payments and all other investor related
activities are attended to and processed at the office of our Registrars & Share Transfer
Agents. For lodgement of Transfer Deeds and any other documents or for any
grievances/complaints, kindly contact Karvy Computershare Private Limited, contact details
of which are provided elsewhere in the Report.

For the convenience of the investors, transfers and complaints from the investors are accepted
at the Registered Office between 9:30 a.m. to 5:30 p.m. from Monday to Friday except on
bank holidays:

Corporate Responsibility

Community investment and development

Kotak Mahindra views Corporate Social Responsibility as an investment in society and in its
own future. Kotak uses the power of its human and financial capital to help in transforming
communities into vibrant, desirable places for people to live. The group leverages its core
competencies in three areas:
  Sustainability
An integral part of all Kotak Mahindra Group activities is to be consistently
responsible to shareholders, clients, employees, society and the environment.
 Economic Development
By helping people achieve their financial goals, Kotak strengthens the fabric of
communities and helps them overcome unemployment and poverty to help them
shape their future.
 Doing My Bit

A growing number of employees are committed to civic leadership and responsibility

with the support and encouragement of the Kotak Group. A number of employees
have been involved in strengthening communities through voluntary work, payroll
giving and management inputs.

For any CSR related queries, please contact:

Group CSR
Kotak Mahindra Bank Ltd
Tel. Board +91 22 6720 6720
Email: cr@kotak.com
 CHAPTER – III
REVIEW OF LITERATURE
The Capital Market Reforms in 1ndia'
Since independence, a number of steps have been taken by the Government of lndia to ensure
the organized growth of capital market. The Capital Issues (control) Act 1948, The
Companies Act 1956 and, The Securities Contracts (Regulation) Act 1956 are prominent
among them. The Capital Issues (control) act 1948 was initiated to prevent, regulate and
control investment by companies to protect the interests of the investors by examining the
terms of capital issues, capital reorganization plans including mergers and amalgamations and
foreign investment. The Companies Act 1956 envisaged an integrated pattern of relationship
between the various components of corporate business. The main object of the Securities
Contracts (Regulation) Act 1956 was to have a strong and healthy investment market and
ensure investor confidence. The Monopolies and Restrictive Trade Practices Act (MRTP)
which came into existence with effect from June 1, 1970 was to prevent concentration of
economic power in private hands and to control restrictive trade practices. Moreover, a
number of specialized financial and development corporations were established to finance
large scale industrial development. Finally, the Reserve Bank of lndia and the government
have been taken steps for the integration of organized and unorganized sectors of the capital
market, development of rural credit, financial inclusion and the diversification of the
functions of the commercial banks.

CAPITAL MARKET:
A capital commercial center is a business opportunity for securities (obligation or value),
wherein endeavor (organizations) and governments can enhance long haul spending plan. It is
portrayed as a market wherein cash is accommodated periods longer than an a year, in light
of the fact that the raising of brief day and age reserves happens on various markets (e.G., the
currency advertise). The capital market incorporates the stock market (value securities) and
the security commercial center (obligation). Budgetary controllers, together with the UK's
Financial Services Authority (FSA) or the U.S. Securities and Exchange Commission (SEC),
administer the capital markets of their particular purviews to verify that speculators are
ensured against misrepresentation, among different commitments.

Capital markets might be arranged as number one markets and optional markets. In number
one markets, new stock or security issues are offered to brokers through an instrument
alluded to as guaranteeing. In the optional markets, display securities are purchased and
purchased among purchasers or speculators, ordinarily on a securities trade, over-the-counter,
or some other place.

INDIAN CAPITAL MARKET

The Indian Capital Market is one of the most established capital markets in Asia which best
in class around 2 hundred years before.

Order of the Indian capital markets:

1830s: Trading of corporate offers and stocks in Bank and cotton Presses in Bombay.

1850s: Sharp development in the capital commercial center representatives attributable to the
fast advancement of business endeavor.

1860-sixty one: Outbreak of the American Civil War and ' Share Mania ' in India.

1894: Formation of the Ahmadabad Shares and Stock Brokers Association.

1908: Formation of the Calcutta Stock Exchange Association.

A commercial center is any individual of a development of different frameworks,

foundations, strategies, social relatives and foundations whereby people exchange, and things
and administrations are traded, shaping a piece of the money related framework. It is an
affiliation that licenses customers and merchants to change matters. Markets run long, run,
geographic scale, locale, sorts and sort of human groups, notwithstanding the assortments of
products and offerings exchanged. A few cases comprise of neighborhood ranchers' business
sectors held around the local area squares or parking garages, shopping offices and acquiring
retail chains, global cash and ware markets, legitimately made markets including for toxins
permits, and unlawful markets which incorporates the commercial center for illegal
containers.

In standard financial matters, the possibility of a commercial center is any structure that
licenses customers and merchants to trade any sort of merchandise, offerings and actualities.
The trading of merchandise or administrations for cash is an exchange. Market people
incorporate every one of the purchasers and merchants of a stunning who impact its charge.
This affect is an essential inspect of financial aspects and has offered ascend to a few
speculations and models with respect to the major market powers of convey and request.
There are two parts in business sectors, customers and merchants. The market permits
substitute and permits the appropriation and allotment of advantages in a general public.
Markets allow any tradable protest be assessed and evaluated. A market rises additional or
less immediately or is assembled deliberately by utilizing human interchange with an end
goal to allow the other of rights (cf. Possession) of administrations and merchandise.

Truly, markets started in physical commercial centers which would regularly change into —
or from — little gatherings, urban areas and towns.

Sorts of business sectors

Albeit many markets exist inside the regular sense — together with a commercial center —
there are different assortments of business sectors and various authoritative structures to help
their capacities. The idea of business exchanges should layout markets.

Monetary markets

Money related markets encourage the difference in fluid property. Most purchasers select
putting resources into business sectors, the stock markets and the security markets. NYSE,
AMEX, and the NASDAQ are the most well-known stock markets inside the US. Prospects
markets, in which contracts are traded in regards to the predetermination transport of items
are frequently an outgrowth of wellknown product markets.

Money markets are utilized to exchange one cash for another, and are frequently utilized at
theory on forex costs.

The currency advertise is the require the worldwide market for loaning and acquiring.
Expectation markets

Forecast markets are a kind of theoretical market wherein the products traded are prospects at
the event of positive exercises. They rehearse the commercial center flow to encourage
records accumulation.

Association of business sectors

A market can be set up as a sale, as an individual electronic commercial center, as a ware

discount showcase, as a shopping center, as an unpredictable association including a stock
commercial center, and as an easygoing dialog between people.

Markets of different sorts can unexpectedly stand up on each event a festival has enthusiasm
for a stupendous or administration that a couple of various festival can give. Consequently
there might be a business opportunity for cigarettes in remedial focuses, some other for biting
gum in a play area, but then another for contracts for the future delivery of a ware. There can
be illicit businesses, wherein a phenomenal is traded wrongfully and advanced markets,
which incorporates eBay, in which clients and merchants do now not physically have
communication throughout arrangement. There likewise can be markets for things beneath an
order monetary framework regardless of strain to stifle them.

Private Secondary Markets

In part because of hoisted consistence and announcing duties sanctioned inside the Sarbanes-
Oxley Act of 2002, non-open auxiliary markets initiated to rise. These business sectors are
typically best accessible to institutional or allowed purchasers and allow purchasing and
offering of unregistered and private association securities.

In individual value, the optional market (likewise oftentimes alluded to as individual value
auxiliary's or secondary's) alludes to the looking for and offering of prior financial specialist
duties regarding private value accounts. Venders of individual value speculations advance no
longer handiest the ventures inside the store however furthermore their end unfunded
responsibilities regarding the funds.
 Fig 3.1

EQUITY SHARES:

They likewise are referred to as regular stock. The not surprising load of an endeavor are its
real proprietors, the individual the enterprise and suspect the last risk assistant with
possession. Their legitimate duty, how ever is restricted to the sum in their subsidizing inside
the event of liquidation, these investors have a leftover proclaim on the property of the
endeavor after the cases of all loan bosses and favored stock holders,are settled in total. Basic
stock like favored stock, as no adulthood date.NSE began exchanging the values portion
(Capital Market stage) on November 3, 1994 and inside a limited capacity to focus one yr
turned into the most vital exchange India as far as volumes transacted.Trading volumes in the
value stage have developed quickly with basic day by day turnover developing from Rs.17
crores at some phase in 1994-ninety five to Rs.14,148 corers for the term of FY 2007-08.
Amid the year 2007-o8,NSE said a turnover of Rs.Three,551,038 crores in the values
section.The Equities portion presents you with an observation into the values fragment of
NSE and also gives genuine time charges and records of the values showcase. In-force
records with respect to posting of securities, purchasing and offering structures and
strategies,clearing and settlement, peril control, purchasing and offering certainties et cetera
are accessible ideal here.
Approved, ISSUED AND OUTSTANDING SHARES:

A lawful offers is the most extreme no. Of stocks that the articles of association (AOA) of
the company allow it to issue in the commercial center. An association can however alter its
AOA to blast the range. The wide assortment of stocks that the business has genuinely issued
out these lawful offers is alluded to as issued shares. A business venture for the most part
adores to have some of offers that a lawful however un-issued. These un-issued permit
adaptability in allowing stock options, seeking after merger objectives andsplitting the stock.
Extraordinary stocks talk over with the assortment of stocks issued and in certainty held by
utilizing open. The business can purchase back a piece of its issued stock and keep it as a
treasury inventory.Par expense , book charge and selling charge :The standard cost of an offer
of stock is essentially a recorded parent inside the corporate constitution and is of minimal
money related essentialness. A company should now not, be that as it may, trouble not
surprising stock at a rate not as much as standard cost, because of the reality any markdown
from standard cost ( amount through which the issuing cost is significantly less than the
standard cost) is thought about an unexpected lawful obligation of the own one of a kind
wrest to the lenders of the business. In case of liquidation, the extent holders could be
lawfully helpless against banks of any rebate from standard charge.

Illustration: believe that xyz inc. Is set up to begin venture for the essential time and sold ten
thousand offers rupees 10 each . The rate holders value bit of the accounting report may be
regular stock @ 10 each at standard value:ten thousand offers issued and breathtaking
RS100000 Total offers holders reasonableness RS100000.The book esteem per level of not
surprising stock is the investors value – add up to possessions less liabilities and wanted
stocks as recorded at the soundness sheet-isolating by the quantity of stocks huge .Think that
xyz is presently 1 a year antique has created RS 500000 after-charge benefits, however pays
wide assortment separating. In this way, held wage are RS 50000. The extent holders decency
is presently RS a hundred thousand+ RS 50000 =150000 and the digital book cost per rate is
rs 1500000/10000=RS 25.Although one would potentially foresee the digital book cost by
offer of stock to compare to the selling charge (per share) of the business, most extreme much
of the time does not. Frequently assts are sold for not as much as their esteems, exceptionally
while exchanging charges are included.
Market cost

Market expense per share is the cutting edge charge at which the stock is exchanged. For
effectively exchanged stocks, advertise accuse citations are of straightforwardness accessible.
For the numerous in vivacious offers which have thin markets, expense are difficult to
accomplish. Indeed, even while possible, the data may also reflect best the offer of a few
offers of stock of regular stock and never again exemplify the market cost of the firm on the
grounds that the whole. The commercial center cost of an offer of typical stock will usually
varies from its digital book charge and its selling expense. Market cost in venture with extent
of ordinary stock is an element of the contemporary and expected future profits of the
organization and the apparent danger of the stock on the a piece of financial specialists.
Rights of common percentage holders:
1.Rights of earnings:

In the event that the organization neglects to pay authoritative intrigue and statute and bills to
banks, the moneylenders are fit for make lawful move to protect that standard bills are result
of organization is exchanged. Regular extent holders, nonetheless, have legitimate plan of
action to an association for never again conveying benefits. Handiest if control, the leading
body of overseers, or both occupied with misrepresentation may furthermore extent holders
prosecute their case docket and likely weight the business undertaking to pay profits.

1. Vote throwing rights:

The regular offers of an association are its proprietors and they're qualified for run with a
leading group of heads. In an immense gatherings shares holders ordinarily practice most
straightforward aberrant oversee through the leading group of chairmen they select. The
board, thus, pick the administration, and the administration genuinely controls the operations
of the organization. In a sole proprietorship, association, or little boss, the proprietors usually
deal with the operation of the business quickly.

2. Intermediaries and intermediary challenges:

Basic extent holders are qualified for 1 vote in favor of each extent of stock that they
individual . It is likewise troublesome, each substantial and fiscally, for the most extreme
extent holders to go to an organization's yearly gatherings. Along these lines, many extent
holders vote of way of an intermediary, a lawful offense record through which extent holders
appoint their appropriate to vote to each other person.

Three. Voting strategies:

Contingent upon the organization sanction, the leading body of chairmen is chosen
underneath both

Dominant part lead balloting gadget or a combined vote throwing contraption. Under the
overall population govern gadget, investors have one for each offer of stock that they claim,
and that they need to vote in favor of each executive part that is open. Under cumulating
balloting gadget, a stock holder can gather votes and strong them for considerably less than
the entire number of chiefs being chosen. The general number of votes of each extent holders
is equivalent to the scope of offers the stock holder occurrences the quantity of chairmen
being chosen.

ISSUE MECHNISM:

The achievement of an inconvenience depends upon, halfway, on the Issue Mechanism.

The procedures with the guide of, which new issues are manufactured from

1. Open trouble by means of plan.

2. Offer available to be purchased.

Three. Situation.

4. Rights trouble.

1.Public Issue Through Prospectus:

Under this strategy, the issuing associations themselves offer straightforwardly to wellknown
open a settled wide assortment of stocks at an expressed value, which on account of new
organizations is perpetually the face cost of the securities, and on account of current
associations, it would some be able to thing incorporate an endorsed to influence certain
emerging to out of inadmissible open response. Straightforwardness and wide dispersions of
stocks are its essential and advantages. The premise of people in general inconvenience
approach is an outline, the base substance of which may be endorsed by utilizing the
Companies Act 1956. It additionally gives both common and evildoer liabilityfor any error in
the plan. Extra exposure necessities likewise are ordered by means of the SEBI.
The substance of the outline, bury aria, include:

1. Name and enlisted office of the issuing manager.

2. Existing and proposed exercises.

3. Board of managers.

4. Location of the business.

5. Authorized, subscribed and proposed issued of money to open.

6. Dates of building up and last of membership posting.

7. Names of merchant, guarantor, and unique in relation to whom application

organization nearby

8. with duplicates

9. prospectus can be gotten.

10. Minimum membership.

11. Names of guarantor , assuming any, alongside an announcement that in the

assessment of the
12. directors.

13. sources of the guarantor are adequate to fulfill the guaranteeing commitment.

14. A articulation that the venture will influence a product to stock substitute for the

15. permission to bargain in or for a citation of its et cetera.

2. Offer available:

Intermediary to their own special supporter of securities which have been once in the past
purchased or

subscribed". Under this system, securities are gotten by means of the issue houses, as in offer
available approach, however set up of being at last given to people in general, they are
situated with the benefactor of the issue houses, both individual and institutional financial
specialists. Every issue house has a composed to join any securities that are issued in this
way. Its way is the indistinguishable with the least complex Difference of conclusive dealers.
In this method, no formal endorsing of the issue is required as the area itself Amount to
guaranteeing since the homes consent to region the issue with their customers. The principle
Advantages of setting, as a technique issuing new securities, are its relative efficiency. There
is a charge slicing because of guaranteeing commission, rate identifying with programs,
portion of offers and the stock exchange necessities identifying with substance of the plan
and its business. This approach is ordinarily received through little gatherings with
unacceptable monetary exhibitions. Its shortcoming emerges from the purpose of circulation
of securities. As the securities are given best to a select foundation of financial specialists, it
might prompt the grouping of offers in to three hands that can make engineered shortage of
contents in occasions of aggravating dealings in such stocks inside the commercial center.

Three.Rights Issue :

Just the present organizations can utilize this strategy. On account of associations whose
stocks are as of now ordered and comprehensively held , offers might be offered to the
current investors. This is alluded to as right inconvenience. Under this approach, the common
investors. Are offered the privilege to subscribed to new offers in rate to the amount of offers
they as of now keep up. This is made by method for roundabout to existing investors least
complex.

In India, fragment eighty one of the organizations demonstration 1956 offers that in which a
business will expand its subscribed capital through the issue of new offers, both following
quite a while of its arrangement or following a year of first issue of offers whichever is ahead
of time, these should be first provided to the present investors with this prerequisite by
passing an interesting determination to the equivalent effect. The pioneer value of rights
issues is that it is a more affordable approach.

Sweat decency stocks:

Under fragment 9Aof the organizations Act , 1956, an office would difficulty be able to
sweat value offers to its work force or chairmen at rebate or for thought beside coins for
providing skill making to be had rights inside the idea of highbrow property rights or esteem
augmentations et cetera on the accompanying.

Conditions:

• The inconvenience of sweat reasonableness rate is permitted by an uncommon

determination surpassed with the guide of the organization in the favored meeting.

2. The determination indicates the assortment of offers, current commercial center, Price,
determination, assuming any, and the polish or classes of heads Or representatives to whom
such value shares are to be issued.

Three. The office is qualified for trouble sweat value stocks after conclusive touch of one
year from the date of Commencement Of business.

4. The value offers of the association should be recorded on a recognized stock exchange.
Five. The issue of sweat reasonableness shares must be filed on an understanding with the
standards made by methods for the SEBI for the benefit.

6. An unlisted organization can issue sweat decency stocks as per the endorsed pointers made
for this intention.

7. Every one of the imperatives, confinements and arrangement identifying with decency
stocks will be relevant to sweat value stocks.

Inclination SHARES:

Inclination shares are a cross breed security as it has both standard offers and bonds.
Inclination investors have special rights in perceive of property and profits. In the event of
twisting up the decision investors have a claim on to be had possessions before the typical
investors. What's more, want investors get their expressed profit sooner than value investors
can obtain any profits.

Sorts OF PREFERENCE SHARES:

1. Total and Non-aggregate decision shares:The total inclination offers rights to request the
unpaid profits of any year, amid the accompanying ears when the salary and adequate. All
inclination profits overdue debts must be paid sooner than any profits can be paid to
reasonableness investors. The non combined decision extent pass on a legitimate to a firm
profit out of the salary to any year. On the off chance that profit aren't accessible in an a year,
the holders get nothing, nor would they be able to pronounce unpaid profits in consequent
years.

2. Combined convertible want stocks:

The combined convertible decision (CCP) share is a units that grasps elements of both
decency offers and stocks and want shares, yet which essentially is a decision stocks. Since
the CCP shares capital would speak to a class of offers, great from just value and in
fundamental terms alternatives share capital, the privileges of the instrument holders should
be expressed both in a wellknown outline choice or in the articles or in the terms of issues
inside the give archives viz., plan/letter of give.

Three. Partaking and non working together want shares:

Taking an interest decision shares are those stocks which can be qualified for a settled special
profit and. What's more, pass on a privilege to partake inside the surplus benefits in
conjunction with value shares holders after profit at a positive rate has been paid to value
extent holders. Again in case of twisting up, if in the wake of paying restored each want and
value rate holders, there's by and by any surplus left, at that point the taking an interest
inclination rate holders get additional offers in the surplus property of the business venture.
Unless explicitly provided, inclination rate holders get handiest the consistent inclination
profits and profit for capital inside the occasion of finishing out of acknowledged estimations
of property after get together all outside liabilities and nothing additional. The rights to
partake might be given either inside the reminder or articles or by methods for excellence of
expressions of inconvenience.

4. Redeemable and Irredeemable inclination shares:

Subjects to an expert inside the articles of affiliation, an open limited association may trouble
redeemable decision stocks to be reclaimed either at a set date or after a specific timeframe
sooner or later of the life time of the business venture. The organizations demonstration, 1956
denies the trouble of any decision extent that is irredeemable or is redeemable after the expiry
of a length of 20 years from the date issue.

Energy to Issue Redeemable Preference Shares:

Area 80 of the gatherings demonstration 1956 lets stuck in an unfortunate situation

Redeemable decision shares if:

• The venture is limited by utilizing stocks.

• Its article of affiliation approves the trouble of redeemable inclination shares.

• Those shares are redeemable at the decision of the association.

A venture is permitted to trouble redeemable want shares inside the accompanying

conditions:

• Such inclination stocks should be reclaimed best out of profit of the business
endeavor, which could somehow or another be to be had for profit.

• Such recovery likewise can be produced using the continued of new issues of offers
produced using the reason of reclamation.

• Before recovery, such offers ought to be totally paid up.The top class on reclamation
might be given out of pay of the venture or out of securities top rate account, before the offer
are reclaimed.

• Where shares are reclaimed out of income to a different record called 'capital

• The recovery of inclination stocks underneath this segment should now not be taken
as diminishing the approved capital of the venture.

• The capital recovery hold record may moreover utilized for issue of completely paid
reward shares.Companies are never again permitted to issued irredeemable inclination stocks
or inclination stocks which can be redeemable after the terminate of a length of twenty years
from the date of its difficulty.In instance of default, the undertaking and each officer of the
business who's indefault should be culpable with a great which may extend to Rs ten
thousand.

Conceded/Founders shares:

An individual organization any trouble what are called conceded or organizer's offers. Such
stocks are generally held by means of promoters and chairmen of the organization. That is the
reason they are normally known starting at a littler section, say on rupee each. How ever they
might be regularly given. Indistinguishable voting rights with value stocks, which might be of
better division, say Rs10 each. In this way, through contributing shockingly diminish sums,
the promoter can likewise advantage control over the administration of the enterprise. As
respects the cost of profits were announced at the inclination and reasonableness stocks. It is
because of this delay of the profit charge that those stocks are likewise alluded to as conceded
shares. The promoters, organizers and executives have a tendency to have coordinate leisure
activity inside the satisfaction of the business they will get profits on those offers best if the
benefits are sufficiently high to leave an adjust of in the wake of paying profits to inclination
a reasonableness investors. Other than additional the benefits of the association , the better
can be profits paid on those offers.
Issued share at a premium:

At the point when an organization issues stocks at a premium, regardless of whether or coins
or thought other than coins, the premium amassed on those offers will be exchanged to a
different record alluded to as 'securities top class account'.The arrangement of the
demonstration relating rebate of stocks capital should also practice to the securities premium
record might be executed with the guide of the undertaking inside the accompanying ways:

In paying up un issued supplies of the partnership to be issued to people of the enterprise as

totally paid up shares.

• In discounting the preparatory charges of the organization.

• In discounting the costs of, or the commission paid or markdown permitted on, any
issue of offers debentures of the organization.

• In bestowing for the top notch payable on reclamation of any decision offers or
debentures.

Issued rate at a Discount:

1. The issued of stocks at a lessening ought to be of a classification of offers issued by

utilizing the

Organization.
2. The trouble of offers at a diminishment should be approved by a choice gave inside
the famous get together and endorsed with the guide of the basic specialists.

2. The determination should indicate the greatest cost of Discount at which the stocks
are to be issued.

Three. The most extreme rate of rebate should never again surpass 10% until the point that
the basic government is of the Opinion that higher percent of deal might be permitted in one
of a kind conditions.

Four. The offers should be issued inside months from the date of endorse by utilizing the or
inside such expanded time as the focal experts may likewise permit.

Five. The trouble of offers at a lessening can be finished by means of an organization best a
year after the Commencement of the business undertaking with the guide of the enterprise.

6. In instance of restoration and recovery of sick industry organizations underneath

chapter 11 VIA, the issue of offers at cut cost might be endorsed by utilizing the 'Tribunal'
rather than 'basic government'.

7. Every outline alluding to issue of stocks should contain the points of interest of deal
permitted on the issue of offers or the unwritten off amount f cut cost at the date of trouble of
plan.

Eight. In instance of default, the business and each officer of the business who is in default
will be culpable with best which may extend to Rs.500.Shares issued for consideration beside
coins

nine. To the guarantors of stocks and promoters through method for installment
compensation or for Expenses brought about.

10. To the seller from whom the strolling business endeavor is purchased, as purchase
rate or Consideration.
Eleven. Issued of extra offers out of the stores to the current investors of the enterprise.

DEBENTURES:

"Recognize of obligation, given under the seal of the business venture and containing a
settlement for the pay of the essential total at a particular date and for pay of the main
aggregate at a correct date and at the cost of side interest at steady value rate till the vital total
is repaid,and it might give the charge at the effects to the association as security of the Loan".

Sort of debentures:

1. Carrier debentures: Bearer debentures are like rate warrants in that too are debatable units,
transferable with the guide of transport. The enthusiasm on conveyor debentures is paid
through the way of associated coupons. On development, the overwhelming aggregate is paid
to the bearers.

2. Enrolled debentures: These are debentures which are payable to the enlisted holders i.E..
Men and ladies whose names show up inside the join of debenture holders. Such debentures
are transferable inside the equivalent way as stocks.

Three. Interminable or Irredeemable debentures: A debenture which incorporates no

provision as to cost or which incorporates a condition that it should not be paid lower back is
known as a never-ending or : irredeemable debenture. These debentures are redeemable just
at the going ahead of a possibility at the lapse of a period, yet long. It takes after that
debentures might be made interminable, i.E. The home loan is repayable easiest on finishing
or after an extended era.

4. Redeemable debentures : These debentures are issued for an assigned time allotment. On
the expiry of the coveted time the organization has the correct to pay bring down back the
debenture holders and have its homes propelled from the home loan or cost. For the most
part, debentures are redeemable.
Five. Debentures Issued as Collateral Security for a Loan: The era guarantee security or
optional assurance way, a security which can be acknowledged with the guide of the
gathering ensuring it in case of the credit being not paid on the perfect time or in accordance
with the settlement of the occasions. Now and again, the banks of cash are given debentures
as an insurance assurance for credit. The ostensible cost of such debentures is always
additional than the home loan. On the off chance that the home loan is reimbursed, The
debentures issued as security wellbeing are mechanically recovered.

1. Stripped debentures: Normally debentures are secured through a home loan or an expense
at the organization's assets. However debentures might be issued with none rate on the
advantages of the business undertaking. Such debentures are uncovered or unsecured
debentures. They are negligible affirmation of an obligation due from the office, developing
no rights past those secured loan specialists.

2. Secured debentures: when any exact or certain benefits of the undertaking is offered as
wellbeing to the debenture holders and keeping in mind that the organization can deliver it
least complex worry to the earlier right of the debenture holders, consistent cost at the task of
the association i.E.. Finish of the things of the business venture, both present and future, a
while it can address the effects inside the customary course of big business until the point
when the cost solidified i.E.. While the association goes in to liqudation or while a get is
named, the cost is said to glide rate. At the point when the coasting rate takes shape, the
debentures holder have ideal to be paid out of the property subjects to the best possible of the
particular loan boss however preceding making any charge to unsecured banks.

Strategies for recovery of debentures:

An association may trouble redeemable notwithstanding irredeemable debentures.

There are two basic methodologies of reclaiming the debentures reliable with the expressions
of the issue.

• Redemption of debentures on a steady date:

In this technique installment to the debenture holders is made at the expiry of the expressed
length. A ' sinking reserve account' is made with the guide of charging the profit and
misfortune allotment account'. The sum so credited in the sinking reserve account is
contributed inside the plated edged securities. The securities are sold at the date of recovery
of debentures.

• Redemption of debentures by utilizing periodical illustrations:

In this approach, charge is made yr after of a positive bit of the full debentures with the guide
of drawing. A such the business account is charged with the once per year illustrations and
the "recovery support account" are credited.

• Convertible debentures (CDs):

A business may likewise issue CDs wherein case an option is given to the debenture holders
to secretive them in to value or decision shares at said charges of exchange, after a specific
period. Such debentures when changed over in to stocks can not be reconverted in to
debentures. Compact discs can be totally or halfway convertible. If there should be an
occurrence of completely convertible debentures, the bury confront values changed over in to
shares at the expiry of extraordinary period(S). If there should arise an occurrence of mostly
convertible debenture best convertible segment is recovered toward the finish of determined
period. Non convertible debenture don't give any decision at the holder to the debenture in to
stocks and are recovered on the expiry of particular period (s).CDs, regardless of whether
completely or to some extent convertible, can be changed over in to shares at the surrender of
exceptional periods in a solitary or more ranges. The undertaking should get a FICO rating of
debenture performed through FICO assessment score endeavor. Cds are recorded on stock
trades. The somewhat convertible debenture (PCDs) give additional adaptability to the two
organizations and dealers. It has been guaranteed to be higher than completely convertible
debenture since it does now not routinely involve extensive value base, specifically if there
should arise an occurrence of most recent organizations. Experience proposes that adjusting
of gigantic base of capital isn't generally smooth in the event of late activities, particularly if
the organization keeps running in to troublesome climate because of advertising challenges.
All things considered, the non-convertible piece of the debenture keeps the value of an
association inside conceivable l
American Depository Receipts (ADR):

An American storehouse receipt (ADR) is a debatable receipt which speaks to at least one

Storehouse stocks held by method for a US overseer money related organization, which in
flip constitute basic loads of

non-backer held by means of an overseer in the nation of origin. ADR is an engaging

subsidizing to US

purchasers willing to burn through cash on securities of non US backers for following
reasons:

• ADR offer a way to US financial specialists to change the non US organization stocks
in US greenbacks ADR debatable receipt (which speaks to the non US share) issued in US
capital commercial center and is exchanged bucks. The purchasing and offering in ADR
effectively technique purchasing and offering in hidden stocks.

• ADR helps extent exchanges. ADRs are debatable and might be without issues
exchanged a large portion of the merchants like another debatable apparatus. The switch of
ADRs mechanically exchanges the hidden rate.

• The switch of ADRs does not contain any stamp obligation and consequently the
exchange of hidden rate does now not require any stamp duty. The profits are paid to the
holders of ADRs in US bucks.

ADR OFFERINGS:

An open providing bears get right of section to the broadest US financial specialist base and
most fluid US securities showcase. The consistence necessities out in the open offerings are
the strictest and fuse of Registration of hidden assurance under the Act (From F1)
Registration of ADR underneath the 1993Act (From F6) Registration underneath the 1934
Act (if the partnership isn't generally effectively Regulation act under the 1934 Act).
Worldwide Depository Receipt (GDR):

With the expansion in overall reasonableness issuance, on the whole with blast inside the
fundamental

Optional commercial center subsidizing, an expanding need has been felt for higher
fungibility. The purchasers request shares that exchange unreservedly on an overall
establishment without limitations. The store receipts have be utilized as a halfway technique
to this inconvenience. American safe receipts were the well known assortments of ventures
by utilizing US purchasers in abroad values. An amount of overall value offers, exceptionally
a couple of Asian markets have an expanding number of utilized overall storehouse receipts
(GDR),specifically in which jail controls and shut markets have turned away the overall
circle of basic wellbeing on an openly change premise. The GDRs hold to have cost in fluid
or bound markets and are often utilized by challenge organizations to lift decency value
extend.

Qualities OF A GDR:

• Depository receipts are debatable endorsements with traded on an open market value
of the guarantor as basic security.

• An inconvenience of safe receipts may include the guarantor, issuing specialist to an

outside store.

• The store, in flip, issues GDRs proving their rights as extent holders.

• Depository receipts are designated in abroad money and are listed of universal trade
together with London or Luxembourg.

• GDRs permit dealers trade a greenback designated instrument on a worldwide stock

exchange but then have rights in remote offers.

• The statute reason for the GDR is to furnish overall speculators with neighborhood
settlement.
• The supplier issuing the stocks needs to pay profits to the storehouse inside the home
forex.

• The storehouse needs to then change over the local forex into dollars for forward cost
to receipt holders. GDRs bear zero chance of capital reimbursement.

Subsidiaries:

It is a settlement whose cost relies upon or cost depends upon on or gets from the cost of a
hidden resource [say an offer, forex, ware or an index]. In its broadest feel a result endeavors
to fence towards the changeability of any monetary variable. In this manner exposures or saw
dangers to an organization bouncing up from the variety in side interest expenses, exchange
costs, ware charges and value charges can be supported through the right subsidiary shape.
Such a result shape covers a wide assortment of monetary contracts viz. Prospects, advances,
alternatives, swaps and restrictive forms thereof. These agreements can be exchanged on the
various trades in an institutionalized way or by utilizing specially crafted for singular
prerequisites. The historical backdrop of subsidiaries might be followed to the medieval times
while ranchers and brokers in grains and distinctive agrarian items utilized certain specific
types of prospects and advances to support, the threats. Basically the rancher wants to ensure
that he gets a sensible charge for the grain that he could gather [say] three to four months
after the fact. An over convey hurt him severely. For the grain specialist co-op, the other is
credible. A fall inside the rural item will push up the expenses. It made experience thusly
them two to settle a rate for the fate. These transformed into how the future market initially
created in farming products, for example, cotton, coffee, oil, soya bean, sugar after which to
monetary stock such at loan costs, remote trade and offers. In 1995 the Chicago leading body
of exchange began exchanging subordinates. For the subsidiaries commercial center to widen
three sorts of people are vital .They are the hedgers, the examiners and the arbitrageurs. Each
of the 3 need to exist together.
 CHAPTER – IV
DATA ANALYSIS
AND
INTERPRETATION
STOCK MARKET
Stock Prices
Company : KOTAK MAHINDRA LIMITED ( 532106 )
Period ( 01-Jan-2017 to 31-Jan-2017)
Open High Low Close No. of No. of Total Turnover
Date WAP
Price Price Price Price Shares Trades (Rs.)
1-01-17 43.20 43.60 42.85 43.10 43.25 1,82,106 1,046 78,76,672
2-01-17 43.20 44.50 43.20 44.10 43.84 1,87,107 1,464 82,03,362
3-01-17 44.55 45.85 44.35 45.00 45.22 3,88,564 2,278 1,75,71,610
4-01-17 45.10 45.15 43.90 44.10 44.55 1,27,734 1,170 56,90,920
7-01-17 44.40 44.95 44.10 44.35 44.55 92,155 912 41,05,228
8-01-17 44.50 46.50 44.45 46.05 45.67 3,86,437 2,565 1,76,47,452
9-01-17 45.95 47.85 45.50 47.45 46.82 7,65,524 3,796 3,58,45,260
12-01-17 47.95 49.60 47.40 49.20 48.61 12,59,808 5,915 6,12,41,940
12-01-17 49.90 50.25 46.70 47.20 48.81 10,53,496 4,830 5,14,25,510
14-01-17 47.20 47.20 46.05 46.20 46.56 2,10,233 1,451 97,40,861
15-01-17 46.40 46.40 44.00 44.85 45.46 4,49,893 1,684 2,04,49,899
17-01-17 44.30 45.80 43.65 44.95 45.03 5,00,218 2,340 2,25,24,008
17-01-17 45.00 45.60 44.55 44.90 44.98 3,59,191 1,805 1,61,58,173
18-01-17 43.25 45.00 43.25 43.95 44.42 3,65,120 1,387 1,62,19,480
21-01-17 43.50 47.20 43.50 46.10 46.10 9,55,648 4,612 4,40,53,990
22-01-17 46.50 49.85 46.15 48.85 48.56 20,38,617 8,107 9,90,02,539
23-01-17 48.95 49.80 47.60 48.50 48.75 8,25,921 4,218 4,02,66,363
24-01-17 48.60 48.90 47.20 48.00 48.14 3,49,517 2,179 1,68,26,351
29-01-17 47.95 50.50 47.05 50.00 49.32 6,93,983 3,303 3,42,26,632
30-01-17 50.25 50.80 48.80 49.15 50.05 6,63,300 3,810 3,32,01,019
31-01-17 49.50 49.65 48.05 48.65 48.95 2,45,452 1,348 1,20,14,941

Table 4.1
 CHART

5000
4500
4000
3500 Open

3000 High
2500 Low
2000 Close
1500
WAP
1000
Trades
500
No. of
0
01-01-2017 to 31-01-17

Fig 4.1

INTERPRETATION:

On 1st Jan open price has reduced to forty three.10 than compared to lower price of
EPS 41.25. Then coming to better price to 49.29 thoroughly the belief is forty three.67.
Then coming to the quantity at the equal dates or days extent are increased.
Because totally this month KOTAK MAHINDRA LIMITED. EPS value is decreased i.E.
Percent 03.Fifty two%.
Stock Prices
Company: FEDBANK ( 500469 )
Period ( 01-Jan-2017 to 31-Jan-2017 )
Open High Low Close No. of No. of Total Turnover
Date WAP
Price Price Price Price Shares Trades (Rs.)
1/01/17 235.35 243.50 235.35 242.45 240.68 45,995 847 1,10,70,120
2/01/17 250.00 250.00 243.50 248.05 246.87 1,06,279 1,296 2,62,37,525
3/01/17 250.00 252.50 241.10 244.25 248.61 64,766 1,051 1,61,01,503
4/01/17 244.00 247.50 241.10 242.65 244.38 18,523 527 45,26,643
7/01/17 244.85 246.10 242.00 242.30 243.61 23,010 467 56,05,125
8/01/17 241.25 249.00 241.25 248.00 245.22 36,680 545 89,94,518
9/01/17 250.00 251.50 245.00 248.75 248.68 74,775 1,288 1,85,94,943
10/01/17 251.00 251.00 246.00 248.65 248.55 42,812 797 1,06,40,995
12/01/17 250.80 252.00 244.00 246.00 246.86 42,870 597 1,05,82,682
14/01/17 248.00 248.00 244.05 244.90 246.32 51,843 491 1,27,70,058
15/01/17 245.50 246.40 235.00 236.05 239.98 93,850 697 2,25,22,218
17/01/17 237.00 240.00 233.10 237.25 234.79 5,39,359 661 12,66,36,232
17/01/17 239.50 241.50 237.15 240.05 239.22 29,893 506 71,50,961
18/01/17 243.00 243.00 237.50 239.35 238.75 43,269 325 1,03,30,482
21/01/17 239.90 241.95 238.00 239.20 239.57 38,505 379 92,24,706
22/01/17 240.80 242.00 240.00 241.00 240.98 25,454 218 61,33,910
23/01/17 243.50 244.80 241.15 242.25 242.99 21,337 325 51,84,704
24/01/17 244.90 245.00 239.05 241.55 241.79 32,042 435 77,47,452
29/01/17 245.90 245.90 237.30 238.35 241.36 50,514 582 1,21,92,205
30/01/17 239.30 240.70 235.00 237.45 237.33 1,75,678 1,020 4,17,93,769
31/01/17 239.25 243.00 233.70 235.75 239.37 98,196 719 2,35,05,522

Table 4.2
CHART

FEDBANK
300

250

200 Open
150 High

100 Low

50 Close
WAP
0
01-01-2017 to 31-01-17

Fig 4.2

INTERPRETATION:

On 1st Jan open fee has increased to 242.Forty five than in comparison to higher fee
of EPS 285.Sixty three. Then coming to higher price to 296.32 thoroughly the conclusion is
245.23.
Then coming to the quantity on the same dates or days volume are accelerated.
Because totally this month FEDBANK OF INDIA. EPS cost is extended i.E. Percentage
10.37%.
Stock Prices
company: ADANIENTE ( 512599 )
Period ( 01-Jan-2017 to 31-Jan-2017 )
Open High Low Close No. of No. of Total Turnover
Date WAP
Price Price Price Price Shares Trades (Rs.)
1/01/17 834.20 834.20 818.00 821.10 822.72 21,149 845 1,73,99,664
2/01/17 830.00 830.00 815.15 817.50 822.30 19,502 748 1,60,36,556
3/01/17 821.10 825.50 817.05 819.25 820.12 26,791 661 2,19,71,937
4/01/17 820.00 848.00 817.00 830.70 834.17 64,938 2,179 5,41,68,683
7/01/17 755.00 868.00 755.00 840.30 840.39 35,173 1,478 2,95,50,751
8/01/17 842.45 857.50 833.00 842.10 848.55 93,793 2,445 7,95,87,862
9/01/17 840.00 858.00 831.00 844.85 845.94 78,128 2,381 6,60,91,496
10/01/17 397.00 432.70 397.00 429.00 427.94 84,570 1,607 3,61,91,037
12/01/17 433.00 437.00 424.70 425.60 430.76 39,960 1,157 1,72,17,330
14/01/17 430.10 433.00 423.10 424.55 426.69 24,724 734 1,05,49,479
15/01/17 428.00 429.00 415.10 418.25 420.40 21,599 582 90,80,121
17/01/17 417.00 425.00 415.45 423.70 422.45 25,043 652 1,05,79,386
17/01/17 420.00 427.90 420.00 424.80 425.37 17,562 443 57,68,806
18/01/17 420.40 429.85 419.95 424.20 425.71 23,750 446 1,01,10,614
21/01/17 424.25 425.75 418.20 422.85 422.89 42,108 512 1,78,02,848
22/01/17 424.00 425.80 417.00 418.60 421.30 47,142 541 1,98,60,828
23/01/17 419.00 427.00 419.00 426.15 423.28 42,925 575 1,81,69,379
24/01/17 426.80 431.25 422.60 430.05 427.42 38,796 658 1,65,82,347
29/01/17 437.90 437.90 428.00 429.35 432.10 23,978 531 1,03,60,971
30/01/17 431.00 444.40 427.25 434.25 435.93 7,81,172 2,917 34,05,33,964
31/01/17 437.40 441.80 432.00 436.15 438.57 3,38,999 964 14,86,74,349

Table 4.3
CHART

ADANIENTE
1000
900
800
700
Open
600
500 High
400
Low
300
200 Close
100 WAP
0
01-01-2017 to 31-01-17

Fig 4.3

INTERPRETATION:

On 1st Jan open value has decreased to 821.10 than in comparison to better price of
EPS 868.00. Then coming to higher charge to 865.21 utterly the belief is 863.Fifty eight.
Then coming to the extent on the identical dates or days volume are decreased.
Because definitely this month ADANIENTE. EPS price is decreased i.E. Percent 06.38%.
Stock Prices
Company: UNITECH ( 507878 )
Period ( 01-Jan-2017 to 31-Jan-2017 )
Open High Low Close No. of No. of Total Turnover
Date WAP
Price Price Price Price Shares Trades (Rs.)
1/01/17 80.00 89.60 79.60 88.75 85.51 3,30,51,471 99,763 2,82,61,17,251
2/01/17 90.35 92.00 88.25 88.85 90.01 1,79,17,758 63,156 1,61,24,12,787
3/01/17 89.75 91.90 89.00 90.00 90.73 1,30,55,731 45,750 1,18,46,10,419
4/01/17 89.00 89.90 85.10 88.25 88.25 1,12,24,608 35,607 98,17,68,176
7/01/17 88.05 89.65 86.30 86.90 87.98 75,40,276 25,835 66,34,06,523
8/01/17 86.80 91.80 86.05 91.05 89.22 1,17,56,295 39,010 1,01,32,29,410
9/01/17 85.00 91.80 85.00 89.55 90.21 1,57,27,989 50,638 1,41,88,55,277
10/01/17 89.00 90.20 88.20 88.55 89.05 97,14,125 33,159 86,50,55,972
12/01/17 89.20 90.30 85.30 86.65 87.95 92,71,850 32,275 81,54,66,196
14/01/17 87.50 88.25 86.00 86.45 87.06 73,50,436 26,695 63,99,23,604
15/01/17 86.55 87.90 84.30 85.60 86.67 1,04,53,061 30,200 90,59,27,927
17/01/17 85.20 85.70 83.55 84.40 84.65 77,19,497 27,376 65,34,31,576
17/01/17 84.40 85.05 81.45 82.55 82.78 1,44,32,912 41,045 1,19,48,24,023
18/01/17 82.40 82.40 79.55 80.05 80.92 1,34,03,534 45,899 1,08,46,04,898
21/01/17 80.00 80.95 78.00 78.35 79.63 1,05,40,888 33,644 83,94,01,276
22/01/17 78.90 80.35 78.50 79.60 79.60 68,59,464 23,724 54,60,14,064
23/01/17 80.10 82.40 80.00 81.90 81.32 85,56,695 32,473 69,58,15,750
24/01/17 82.50 83.50 81.35 82.00 82.48 91,69,702 32,472 75,63,31,547
29/01/17 81.45 82.85 81.45 81.95 82.23 44,73,304 17,569 36,78,20,331
30/01/17 82.60 83.70 81.45 82.65 82.85 72,52,440 27,832 60,08,34,458
31/01/17 82.90 84.10 82.10 82.30 83.03 45,81,377 17,610 38,03,74,122

Table 4.4
CHART

UNITECH
100
90
80
70
Open
60
50 High
40
Low
30
20 Close
10 WAP
0
01-01-2017 to 31-01-17

Fig 4.4

INTERPRETATION:

On 1st Jan open value has expanded to 88.75 than in comparison to higher cost of EPS
91.Eighty Then coming to better rate to 89.36 wholly the belief is 86.Fifty eight.
Then coming to the volume at the equal dates or days volume are elevated.
Because totally this month UNITECH. EPS cost is expanded i.E. Percentage 19.32%.
CHAPTER – V
FINDINGS
AND
SUGGESTIONS
 FINDINGS

• There must be prohibition on disposal of promoters share maintaining, and also

regulations and the growth with out prior approval of the financial institutions for declaration
of higher quantity/ rate.
• The availability of derivative merchandise in eluding index futures, index alternatives,
individual stock futures and man or woman inventory options re-enforces the overall
elegance of this market to overseas and home investors.
• Volume of paper paintings is small however it's miles very complicated to hold
information in machine so attempts to lessen that by everyday audit and updating records.
• Most of the DPs do no longer have the important infrastructure to address the high
paintings load of transactions leading to may blunders by means of DPs, so by giving
complete infrastructure statistics to every DO can avoid this hassle.
• The pool account doesn’t understand the real owner of the share and hence dividends
are paid to the broker as opposed to proprietors with the aid of this the broking can do any
manipulation or any fraud with the proprietor, for this the proprietor can free his dividend.
• Hence for this attempt to pay the dividend directly to the owner.

• If the stocks are fake/forged which delivery via the broking the percentage holder can
free that stocks an must receive every other lot of issued stocks from the dealer in 21 days,
this device stands abused.

• So limit that waiting days are deliver the issued stocks to the share holder as soon as
Possible.
 CONCLUSION

• The complete examine of capital marketplace instrument at ANGEL Connected

inventory exchange has been an enlightening enjoy stressing on the high quality factors on
Dematerialization.

• And agreement of shares, spinoff market and capital contraptions has executed in
whole lot of good to the company, investor groups and united states of america.

• The depository structures has decreased the lag in shipping and settlement of
securities however also supported the reason of offering greater liquidity to the safety holder,
the need for putting in place of a depository paper much less buying and selling.

• Through online trading gadget and settlement became inevitable and unavoidable for
the clean and the green functioning of the capital marketplace.

• This system has proved its worthiness with the aid of increasing inside the velocity of
transactions within T+three days that are earlier T+5 days.
• Now there is a proposal that the agreement will be carried out inside T+1days in near
destiny that is in it a demonstration of a boon in the device of demat and capital marketplace
units.
• It has been fairly lengthy for the reason that derivative trading began off on the Indian
Indexes.
• Actively has didn't actually take off with low figures being transacted in phrases of
value and volumes.
• The introduction of derivative trading changed into hailed with the aid of the punters
in the capital markets however has not absolutely delivered about a wave in order to talk.
• There are several factors, which obstruct the boom of the by-product markets in India.
• Of those factors the absence of clear tips on tax-related issues and the excessive price
of transactions are the most prominent.
• Now it's far T+2days started out from 1 April 2017.
 BIBLIOGRAPHY

Web web sites Referred:

www.ANGEL .Com
www.Indiainfolie.Com

• ANGEL securities .Com

• Sebi.Com

• Nseindia.Com

• Yahoo.Com

• Economywatch.Com

Referred Text Book:

V.K. Balla “Financial Investment”

Gordon & Natarajan “Financial Markets and Services”