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Technical Analysis on Selected Stocks

mba finance projectsPrices of securities in the stock market fluctuate daily on account of continuous buying and selling. Stock prices move in trends and cycles and are never stable. An investor in the stock market is interested in buying securities at a low price and selling them at a high price so as to get a good return on his investment.

Technical Analysis is a method of evaluating securities by analyzing the statistics generated by market activity, such as fast prices and volume. Technical analysis does not give the intrinsic value of a security, but instead it includes charts and other tools to identify patterns that can suggest future activity. The rationale behind the technical analysis is that the share price behavior repeats itself over time and analysts attempt to derive methods to predict this repetition.

A technical analyst looks at the past share price data to see if he can establish any patterns. He then looks at the current price data to see if any of the established patterns are applicable and if so, extrapolations can be made to predict the future price movements. Although past share prices are the major data used by technical analysts, other statistics such as volume of trading and stock market indices are also utilized to some extent.

Technical analysis studies supply and demand in a market in an attempt to determine what direction or trend will continue in the future. In other words, technical analysis attempts to understand the emotions in the market by studying the market itself as opposed to its components.

Technical Analysis is important to form a view on the likely trend of the overall market, and it is helpful to have some idea of how to go about selecting individual stocks. Naturally, all investors would like their investments to appreciate rapidly in price, but stocks, which may satisfy this wish, tend to accompanied by a substantially greater amount of risk then many investors are normally willing to accept. However, it is important to understand that investors can be very conscious when it comes to stock ownership.

Technical analysis is the use of numerical series generated by market activity, such as price and volume, to predict future price trends. The techniques applied to any market with a comprehensive price history. Primarily, but not exclusively, technical analysis is conducted by studying charts of past price movement. Many different methods and tools are used in technical analysis, but they all rely on the assumption that price patterns and trends exist in markets, and that they can be identified and exploited.

Technical analysis or charting is considered to be as a supplement to Fundamental Analysis of securities. As an approach to investment analysis technical analysis is radically different from fundamental analysis. While the fundamental analysts believe that the market is 90% logical and 10% psychological, the technical analysis assumes that its 90% psychological and 10% logical. Technical analysis can be applied to any market with a comprehensive price history.

The premises of technical analysis were derived from empirical observations of financial markets over hundreds of years. Perhaps the oldest branch of technical analysis is the use of candlestick techniques by Japanese traders at least as early as the 18th century, and still very popular today.

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Study on Inventory Management at Reid & Taylor (India) Ltd

mba finance projectsInventory is a list of goods and materials, or those goods and materials themselves, held available in stock by a business.

Inventory management is primarily about specifying the size and placement of stocked goods. Inventory management is required at different locations within a facility or within multiple locations of a supply network to protect the regular and planned course of production against the random disturbance of running out of materials or goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting.

Management of the inventories, with the primary objective of determining, controlling stock levels within the physical distribution function to balance the need for product availability against the need for minimizing stock holding and handling costs.

The objectives of materials management are primarily focused at achieving efficiency in sales and production by minimizing the investment in inventory without sacrificing quality and continuity of supply of materials obtained at lowest possible price.

Inventory management is a sub-system of an organisation which in turn has a number of sub-systems. The inter related nature of inventory management function and other organizational functions such as finance function, production function, maintenance function etc. will have to be well appreciated. While defining the inventory management function, the objective was stated as one of providing the pre-determined service to customers at a minimum total cost.

Inventory management is a very simple concept - don't have too much stock and don't have too little. Since there can be substantial costs involved in straying above and below the optimal range, careful inventory management can make a huge difference in the profitability of a business. Although the concept is simple, the process of getting the right balance can be quite a complex and time consuming task without the right technology.

Inventory Management is very important for Reid and Taylor. It enables the business to meet or exceed expectations of the customer by making the product readily available.

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Study on Working Capital Management at PNB

mba finance projectsThe prime objective of any business is to maximize the value of the company and to maximize the wealth of its shareholders. Working capital management has its own role to play in attaining this goal. Working capital is the funds required for day to day working in a business concern. The working capital management involves deciding upon the amount and composition of current assets and how to finance those assets. There should be a proper trade off between risk and profitability in each decision relating to it.

This project work has been undertaken to know the procedures involved in the working capital management in PUNJAB NATIONAL BANK. An attempt is made to study the factors contributing towards working capital and the sources on which the company is depending for funds. The research study was also conducted to derive working capital ratios, to know the performance and efficiency of working capital management and to know the kind of policy adopted in this part of the management. For analyzing the factors and conditions influencing working capital tables and graphs were drawn based on the study.

Based on this study the major findings are that from the overall finance point view, company is not performing well. Some of the symptoms may be great deal of time is taken in managing current assets and liabilities, arranging short-term financing, negotiating favorable credit terms, controlling movement of cash, receivables, inventory etc. It is also been found that important financial ratios like all the liquidity position, current ratio, working capital ratio comparatively below the industry standards and are causing concern.

This research study indicates that in order to improve the over all performance of PNB the management must take all possible steps, review and modify various policies, cash budgets and inventory status by using sound information management system to enable management to have a close control over the various operations.

A strong banking sector is important for flourishing economy. The failures of the banking sector may have an adverse impact on other sectors. The skill for working capital is some what unique and novel, through the goals are to make an efficient use of funds for minimizing the risk of loss to attain project objective. It involves deciding upon the amount and composition of current assets and how to finance these assets. Working capital management is not a simple one.

It enables an enterprise to start and conduct its operations. Working capital requirements is estimate under optimistic assumptions, but what the expectations come true, the firm may be confronted with a difficult situation. The optimum working capital investment to be determined by decision on the level of capacity utilization. We have human and natural resources in abundance but our

capital resources are limited and arresting the pace of development, storage of funds for working capital has caused many business to fail and in many cases has restarted their growth. Working capital which is concerned with short term financial decision, have been relatively neglected in the literature of finance. From the banker’s point of view, it is working capital gap (total current assets minus total current liabilities excluding bank borrowing). This is actually needed by a borrower for working capital. It is the successful play with finance traders that generally decides the fortune of any business enterprise.

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Study on Performance Evaluation of Financial Position

mba finance projectsPerformance evaluation of financial position is very much important to know the wealth and efficiency of the company. Its purpose is to convey the financial aspects of the firm. Evaluation is done through financial statements which includes income statement, balance statement, cash flow statement, fund flow statement.

The various techniques are used to evaluate the performance of financial position. Financial statements are indicators of the segments factors:

1. Profitability
2. Financial soundness

Performance evaluation of financial position, therefore, refers to such a treatment of the information contained in the Income Statements and the Balance Sheet so as to afford full diagnosis of the profitability and financial soundness of the business.

According to the American Institute of Certified Public Accountants , financial statements reflect “A combination of recorded facts , accounting conventions and personal judgments and the judgments and conventions applied affect them materially .“ This implies that data exhibited in the financial statements are affected by recorded facts, accounting conventions and personal judgments.

The Balance sheet shows the financial condition of the business at a particular moment of time while the Income Statements discloses the rules of operation of business over a period of time. However for a better understanding of affairs of the business, it is essential to identify the movement of working capital or cash in and out of the business. This information is available in the statement of changes in financial position of the business. The statements may emphasize any of the following aspects relating to change in financial position of the business.

Performance evaluation of financial position is very much important to know the wealth and efficiency of the company. Its purpose is to convey the financial aspects of the firm. Evaluation is done through financial statements which includes income statement, balance statement, cash flow statement, fund flow statement.

A financial statement is an organized collection of data according to logical and consistent according procedures. Its purpose is to convey an understanding of financial aspects of a business firm. It may show a position at a moment of time as in the case of a balance sheet, or may reveal a series of activities over a given period of time, as in the case of income statement.

The Income statement (also termed as Profit and Loss Account)is generally considered to be the most useful of all financial statements. It explains what has happened to a business as a result of operation between two balance sheet dates .for this purpose it matches the revenues and cost incurred in the process of earning revenues and shows the net profit earned or a loss suffered during a particular period.

It is a statement of financial position of a business at a specified moment of time . it represents all assets owned by the business at a particular moment of time and the claims (or equities )of the owners and outsiders against those assets at that time. It is in a way snapshot of the financial condition of the business at the time.

The term retained earning means the accumulated excess of earning over losses and dividends the balance shown by the income statement is transferred to the balance sheet through this statement, after making necessary appropriations. It is , thus , a connecting link between the balance sheet and the income statement. It is fundamentally a display of things that have caused the beginning-of-the-period retained earning balance to be changed into the one shown in the end-of-the-period retained earnings in the balance sheet. The statement is also termed as profit and loss appropriation account in case of companies.

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Study on Mutual Fund is the Better Investment Plan

mba finance projectsIn the current economic scenario interest rates are falling and fluctuation I the share market have put investors in confusion. One finds it difficult to take decision on investment. This is primarily, because of investments are risky in nature and investors have to consider various factors before investing in investment avenues.

Over the past decades mutual funds have grown intensely in popularity and have experienced a Considerable growth rate. Mutual funds are popular because they make it easy for small investors to invest their money in a diversified pool of securities. As the mutual fund industry has evolved over the years, there have arisen many questions about the nature of operations and characteristics of these funds.

Mutual funds are considered as one of the best available investments as compare to others they are very cost efficient and also easy to invest in, thus by pooling money together in a mutual fund, investors can purchase stocks or bonds with much lower trading costs than if they tried to do it on their own. But the biggest advantage to mutual funds is diversification, by minimizing risk & maximizing returns.

The study will guide the new investor who wants to invest in equity and mutual fund schemes by providing knowledge about how to measure the risk and return of particular scrip or mutual fund scheme. Mutual fund industry today is one of the most preferred investment avenues in India. Like all investment, they also carry certain risks. The investors compare the risks & expected fields after adjustment to tax on various instrument while taking investments decision.

Stock markets have been one of the major avenues for investing. Investors have been focusing their attention mostly on large capitalization stocks. They used to invest most of their money only in large capitalization stocks. But, lately it has been observed that few medium capitalization stocks have been giving returns better than large capitalization stocks.

Portfolio manager evaluates his portfolio performance and identifies the source of strength and weakness. The evaluation of portfolio provides a feed back about the performance to evolve better management strategy. Even though evaluation of portfolio performance is considered to be the last stage of investment process, it is a continuous process. The managed portfolios are commonly known as mutual funds. Various managed portfolio are prevalent in the capital market. Each shareholder participates in the gain or loss of the fund. Units are issued and can be redeemed as needed. The fund’s Net Asset value (NAV) is determined each day.

Investments in securities are spread across a wide cross-section of industries and sectors and thus the risk is reduced. Diversification reduces the risk because all stocks may not move in the same direction in the same proportion at the same time. Mutual fund issues units to the investors in accordance with quantum of money invested by them. Investors of mutual funds are known as unit holders.

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Study on Effectiveness of Inventory Control System

mba finance projects
The problem of competition is increasing in world market place. it's forced the companies to contemplate ways in which of up the internal control system. Severe competition makes it necessary to ceaselessly introduce new product and new styles of product.
Now every day each company can face the competition, attributable to that each company maintains a versatile inventory system. It can rely on however the corporate will reply to the quick dynamical market wants, client expectation and technological advancement. the corporate can specialize in enhancements on the subsequent measures: -
  • The Inventory Level and work-in-progress
  • Quality of the merchandise and technological advancement
  • Flexibility and responsiveness of the assembly method

To meet the increased  demand of the merchandise, it's necessary to extend the capability of existing construction facility. The necessity of effective inventory management is being progressively complete in industrial and non-industrial organization each in Asian nation and abroad. This realization has ensue attributable to increasing quality of the task of managers and directors. In most organization, the matter of effective internal control is currently viewed because the most crucial problem with changes in social climate. whereas these are often nice assets to the organizations, they become issues if the organization isn't able to manage inventory properly.

Liquidity and profitable area unit the 2 important aspects of company business. Any business cannot run while not these 2. A firm might run while not profits for sometime; however with no liquidity, the firm cannot run their business. that's why management of inventory is associate degree integral a part of company coming up with in calling.

The proper internal control system ends up in associate degree optimum utilization of resources. Idle materials area unit of a monetary burden to the organization. so correct, inventory management directly assists in economical functioning of the corporate. S.L. Goel says “take care of the forest, the tree can watch out of itself”, it ought to be the most shibboleth of a list controller.

In inventory management, varied ways and techniques are often adopted to regulate the inventory like, prompt maintenance of registrars, correct material arrangement, and fixation of varied management levels and application of internal control techniques and bin card system etc, that area unit relevant for internal control in stores department.

Inventory management can facilitate a company in handling the provision of the raw materials and different activity so as to attain the most co-ordination and optimum expenditure on materials to extend the profits of the firm. CLA's inventory management|internal control system is chosen for the study; by the investigator is not any expectation see able of growing significance of the economical control of inventories. Hence, the research worker was prompted to require up this subject.

The problem hand-picked to the analysis is “to study the effectiveness of internal control system” at Capital Land Assets Pvt Ltd., The effectiveness of the prevailed inventory system is analyzing at the same time.

The variation of the costs of raw materials are analyzing with their effects on the operating of the unit.

The literary that means of the word “Inventory” is stock of products. each enterprise wants inventory for swish running of its activities. It is a link between production and distribution method. The unforeseen fluctuation in demand and provide of products additionally necessitates the necessity for inventory. It additionally provides a cushion for future worth fluctuations.

The purpose of inventory management is to make sure convenience of materials in comfortable quality and amount as and once needed and additionally to attenuate investment in inventories. so it's terribly essential to possess correct management and management of inventory.

Inventories play a significant role operating of real estate‟s trade. The inventory ensures operational smoothness. In most the organizations the substantial a part of capital is invested with in inventories. Inventory refers to stock of product a firm that's purchasable and additionally the parts that conjure the merchandise.

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Study on Initial Public Offers and Due Diligence

mba finance projectsThis report, because the Title “Initial Public Offers and Due Diligence: The Role of a Investment Banker”, is a trial to evoke the importance of the method of Due Diligence and therefore the significance of the important role contend by the factor in managing the difficulty of associate degree Initial Public provide (IPO).

When an organization problems associate degree initial public offering, it suggests that it's going public. the difficulty of associate degree initial public offering introduces a good degree of transparency in a very Company‟s operations.

All the relevant associate degrees updated info referring to the corporate is arranged  down before the investors so they will create an investment call. Again, there area unit set procedures, rules, rules and laws to be followed in egg laying down this info before the investors. A document referred to as the Prospectus‟ should be ready. The Prospectus captures all the mandatory info that's to be created obtainable to the investors. excluding the Prospectus, there area unit varied alternative company documents that require to be verified and summarized so as to gift them before the investors. An factor is appointed for the aim of managing the difficulty of associate degree initial public offering of an organization. The factor plays a fiduciary role by coordinating  the activities of the corporate, the restrictive Bodies, and therefore the Investors. The factor has responsibilities towards the
  • Company, to manage the whole method of issue of its initial public offering, and to gift the Company's info before the investors in a very brief and unambiguous kind.
  • Investors, to administer all of them the relevant and updated info on the corporate, whereas at a similar time protective their interests.
  • Regulatory Bodies like the Securities and Exchange Board of Bharat, to stick to all or any helper and legal compliance.

In order to meet all his responsibilities well, the factor should work diligently. the method through that he verifies and summarizes the Company‟s info is so referred to as the method of Due Diligence. He should issue Due Diligence Certificates at varied points throughout the difficulty method, language that the corporate documents have all been verified and area unit correct. This report can take the reader through the whole method of the difficulty of associate degree initial public offering and can lay special stress on the dynamic role contend by the factor

The decision by an organization to travel public could be a essential one because it leads to the dilution of possession stake and therefore the diffusion of company management. during this respect, associate degree Initial Public provide (IPO) is that the initial public provide of securities by an organization since its beginning. The factor acts as associate degree mediator between the provision company and therefore the final investors UN agency purchase these securities.

Managing associate degree initial public offering involves variety of mechanical and intellectual efforts that require to be applied in activities like channeling the money surplus of the society into productive investment avenues, sweat Due Diligence to confirm the adequacy and appropriateness of the disclosures created within the Prospectus, and guiding and coordinating  the opposite intermediaries related to the difficulty. The project can address all the on top of activities concerned within the management of IPOs to evoke the importance of the dynamic role contend by the factor during this sphere.

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Influence of ADR on Underlying Stock Prices

mba finance projectsGlobalization has opened the door for the investors to avail numerous investment avenues across the world. yankee installation Receipt (ADR) is one such chance to the finance community. The ADR could be a proxy for the Indian shares to alter them to be listed within the yankee stock exchanges. numerous studies conducted on installation Receipts (DRs) have shown that the mercantilism on the DR sin the foreign market has its influence within the home country’s stock in terms of worth, volatility and volume. This interested Pine Tree State and this project thinks about learning “Whether the value fluctuations of ADR have an effect on the corresponding Indian share prices?”.

After the relaxation of the economy in 1991, the corporatist started sourcing their capital from each domestic and foreign markets. The Indian shares can not be directly listed within the yankee stock exchanges. ADRs are terribly useful during this purpose. thus a shielder bank receives the shares as deposit and problems receipt to the market. These receipts square measure issued in applicable quantitative relation to the shares deposited with the installation. The market players within the stock exchanges trade these receipts.

Though the shares square measure listed in numerous markets, they need the common basic factors like company’s performance, management of the corporate and also the money structure of the corporate that influence the share costs. At an equivalent time there square measure few factors that don't seem to be same for 2 markets. These square measure economic process like interest rates, inflation, and overall performance of the economy. owing to this a distinction in worth is found between the ADRs and also the corresponding share within the home country.

The Sampling style constitutes the blueprint for the gathering, measuring and analysis of knowledge. It aids the mortal within the allocation of his restricted resources by sitting crucial decisions. analysis style is that the arrange and structure of investigation thus formed on get answers to analysis queries. The arrange is that the overall theme or program of the analysis. It includes what the investigator can do from writing hypotheses and their operational implications to the ultimate analysis of knowledge.
The design could be a arrange for choosing the sources and kinds of data accustomed answer the analysis question. it's a framework for specifying the relationships among the study’s variables. it's a blueprint that outlines every procedure from the hypotheses to the analysis of knowledge.

The literature review section examines recent analysis studies, company knowledge, or trade reports that act as a bass for the projected study. connected literature and secondary knowledge provides comprehensive perspective. Earlier references are going to be useful if the matter features a historical background. invariably the literature survey reference ought to be to the initial supply. The literature applies to the study you're proposing. The literature review may additionally justify the requirement for the projected work to appraise the shortcomings and informational gaps in secondary knowledge sources.

The first step during a analysis could be a search of the secondary literature. Studies created by others for his or her own functions represent secondary knowledge. inside secondary knowledge exploration, a man of science ought to begin 1st with associate organization’s own knowledge archives. Reports of previous analysis studies usually reveal an intensive quantity of historical knowledge or decision-making patterns.

By reviewing previous studies, you'll determine methodologies that tried winning and unsuccessful. The supply of secondary knowledge is printed documents ready by authors outside the sponsor organization. a look of secondary sources provides a superb background and can provide several sensible leads if one is inventive.

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Financial Freedom through Reverse Mortgage

mba finance projectsThe world population structure shows that population worldwide is ageing owing to exaggerated longevity of older folks and small birth rates in developed and most developing countries. In Asian nation alone, statistics show that variety of older as a proportion of population can show a 107% growth, from 113 million in 2016 and 179 million by 2026 severally.

Combined with growing health care prices, changes within the joint-family system and exaggerated longevity- the typical expectancy of men is seventy five, which of ladies is seventy nine, at age 60- there's a pressing want for tangible different to the pension schemes, so aged folks will lived in an exceedingly mode they're at home with.

Currently, the mandated coverage in govt and personal pension schemes area unit on the market to around St Martin's Day of population. the remainder of the population need to set up their monetary security severally while not recourse to any of the prevailing govt pension plans.

Again, several of the senior voters reside on fastened incomes, fastened pensions, or on the yield of investments that don't meet their monetary desires. Some need further sources of financial gain to hide day to day expenses. this may not be taken care of by the pension schemes exist presently within the market.

To address this issue of old-age monetary economic condition, it's necessary to initial address the varied instruments of saving that area unit on the market within the monetary sector. plus possession structure in Asian nation suggests that housing wealth constitutes major portion of the non-pension wealth of the older. the matter that a lot of householders face is on the way to faucet into this housing wealth for consumption while not mercantilism the house and moving. The reverse mortgage is one such instrument that permits a house owner to borrow against the equity accumulated within the home while not having to pay back the yield of such loan throughout the lifespan of the reverse mortgage.

Old age comes with its own share of issues. As someone grows older, and his regular supply of financial gain dries up, his dependency on others will increase considerably. With health care expenses on the increase and small social insurance, living the time of life with all respect may be quite challenge for senior voters. In such a state of affairs, an everyday financial gain stream that may facilitate them meet their monetary desires and maintain their current living standards becomes vital.

One typical feature with most senior voters is that their residential property accounts for a big portion of their total plus pie. And, given its illiquid nature, property fails to assist senior voters on the liquidity front.

In the Union Budget 2007-08, a proposal to introduce 'Reverse Mortgages' was place forth. in an exceedingly regular mortgage, a recipient mortgages his new/existing house with the investor reciprocally for the loan quantity (which successively he uses to finance the property); a similar is charged at a specific charge per unit and runs over a preset tenure. The recipient then should repay the loan quantity within the sort of EMIs (equated monthly instalments), that comprise of each principal and interest amounts. The property is employed as a security to hide the danger of fail the borrower's half.

In the reverse mortgage, senior voters (borrowers), United Nations agency own a house property, however don't have regular financial gain, will mortgage a similar with the investor (a scheduled  bank or a housing finance company-HFC). In return, the investor makes periodic payment to the borrowers throughout their lifespan. In spite of mortgaging the house property, the recipient will still keep in it throughout his entire generation and still receive regular flows of financial gain from the investor moreover. Also, since the recipient does not need to service the loan, he needn't hassle concerning repaying the 'borrowed amount' to the investor.

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Financial Analysis on Recession Period at M&M Tractors

mba finance projectsFinancial Analysis (also stated as financial plan analysis or accounting analysis) refers to an assessment of the viability, stability and profitableness of a business, sub-business or project.

It is performed by professionals World Health Organization prepare reports exploitation ratios that create use of data taken from monetary statements and different reports. These reports area unit typically given to prime management mutually of their bases in creating business selections. supported these reports, management may:

1. Continue or discontinue its main operation or a part of its business; create or purchase bound materials within the manufacture of its product;
2. Acquire or rent/lease bound machineries and instrumentation within the production of its goods;
3. Issue stocks or hash out for a loan to extend its operating capital; create selections concerning finance or disposal capital;
4. different selections that enable management to form AN au courant choice on varied alternatives within the conduct of its business.

Comparing monetary ratios is simply a method of conducting monetary analysis. monetary ratios face many theoretical challenges:

1. they assert very little concerning the firm's prospects in AN absolute sense. Their insights concerning relative performance need a point of reference from different time periods or similar companies.
2. One magnitude relation holds very little which means. As indicators, ratios are often logically understood in a minimum of 2 ways in which. One will part overcome this drawback by combining many connected ratios to color a additional comprehensive image of the firm's performance.
3. seasonal factors might stop year-end values from being representative. A ratio's values is also distorted as account balances modification from the start to the top of AN accounting amount. Use average values for such accounts whenever potential. monetary ratios aren't any additional objective than the accounting ways utilized. Changes in accounting policies or decisions will yield drastically completely different magnitude relation values.
4. They fail to account for exogenous factors like capitalist behavior that don't seem to be based mostly upon economic fundamentals of the firm or the overall economy.

Financial analysts can even use proportion analysis that involves reducing a series of figures as a proportion of some base quantity. as an example, a bunch of things are often expressed as a proportion of earnings. once proportionate changes within the same figure over a given period expressed as a proportion is grasp as horizontal analysis.

Vertical or common-size analysis, reduces all things on an announcement to a ―common size as a proportion of some base worth that assists in equivalence with different corporations of various sizes.
Another technique is comparative analysis. This provides a stronger thanks to verify trends. Comparative analysis presents constant info for 2 or longer periods and is given side-by-side to permit for simple analysis.

A prolonged decline in activity across the economy that lasts longer than a couple of months; recessions have a negative impact on industrial production, employment, real financial gain, and wholesale-retail trade. Technically, a recession is claimed to possess occurred once there are 2 consecutive quarters of negative economic process as measured by a country's gross domestic product (GDP).

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Performance Evaluation of Indian Mutual Funds

mba finance projectsThis study has been undertaken to evaluate the performance of the Indian Mutual Funds vis-à-vis the Indian stock market. For the purpose of this study, 21 open ended equity based growth mutual funds were selected as the sample. The data, which is the weekly NAV’s of the funds and the closing of the BSE Sensex, were collected for a period of 5 years starting 19/03/2004 to 13/02/2009.

Different statistical tools were used on the data obtained to get the average returns, absolute returns, standard deviation, Fund Beta, R-squared value, residual value, Relative Performance Index were calculated. These variables of the funds were compared with the same variables of the market to assess how the different funds have performed against the market.

A Statistical test, Mann Whitney U-Test, was done on the returns of the fund with respect to the Sensex returns. Another U-Test was done taking absolute return as the variable. These U- Test were done to test the hypothesis which was that the fund returns over the period of time are similar to the market returns over the period of time.

All the funds were classified into a hierarchical cluster on the basis of their average returns, absolute returns, standard deviation, fund beta, and relative performance index. This classification was to see whether the funds have similar properties or not.

All the mutual funds gave similar returns with respect to the market expect for certain time period which was during the late 2005 and early 2006. There is a positive correlation with the absolute returns of the market and the mutual funds over the period of time. The study showed that the standard deviation of the funds were high during the boom period in comparison with the market and were comparatively lower when the recessionary trend started. The fund betas also show that there is significant correlation between the fund returns and the market returns. Of the 21 funds considered for this study, 7 funds had RPI less than 0.7, 3 funds had RPI of almost 1 and 11 funds had RPI of more than 1.

The results of the U-Test showed that all the funds are accepting the hypothesis that is they are giving returns in sync with the market except for one fund which is UTI CCP Advantage growth fund, whose returns vary significantly from the market returns. With the help of clustering it was seen that a lot of different funds have similar properties and so were classified into one cluster. There were a few outliers who didn’t have any property in common with the other funds but still behaved more or less in the same way as the market and other funds. A U-Test was also done on the absolute returns and the results of this were also similar to the U-Test on average returns, that is, for UTI CCP Advantage Fund the returns were not similar to the market returns and varied significantly.

The mutual fund industry has been in India for a long time. This came into existence in 1963 with the establishment of Unit Trust of India, a joint effort by the Government of India and the Reserve Bank of India. The next two decades from 1986 to 1993 can be termed as the period of public sector funds with entry of new public sector players into the mutual fund industry namely, Life Insurance Corporation of India and General Insurance Corporation of India.

The year of 1993 marked the beginning of a new era in the Indian mutual fund industry with the entry of private players like Morgan Stanley, J.P Morgan, and Capital International1. This was the first time when the mutual fund regulations came into existence. SEBI (Security Exchange Board of India) was established under which all the mutual funds in India were required to be registered. SEBI was set up as a governing body to protect the interest of investor. By the end of 2008, the number of players in the industry grew enormously with 462 fund houses functioning in the country.

With the rise of the mutual fund industry, establishing a mutual fund association became a prerequisite. This is when AMFI (Association of Mutual Funds India) was set up in 1995 as a nonprofit organization. Today AMFI ensures mutual funds function in a professional and healthy manner thereby protecting the interest of the mutual funds as well as its investors.

The mutual fund industry is considered as one of the most dominant players in the world economy and is an important constituent of the financial sector and India is no exception. The industry has witnessed startling growth in terms of the products and services offered, returns churned, volumes generated and the international players who have contributed to this growth. Today the industry offers different schemes ranging from equity and debt to fixed income and money market.

The market has graduated from offering plain vanilla and equity debt products to an array of diverse products such as gold funds, exchange traded funds (ETF’s), and capital protection oriented funds and even thematic funds. In addition investments in overseas markets have also been a significant step. Due credit for this evolution can be given to the regulators for building an appropriate framework and to the fund houses for launching such different products. All these reasons have encouraged the traditional conservative investor, from parking fund in fixed deposits and government schemes to investing in other products giving higher returns.

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A Study on Performance Evaluation of Equity Shares and Mutual Funds
A Dissertation on Mutual Fund And Investor's Behavior
A Study on the Performance of Mutual Fund Schemes in the Frame Work of Risk and Return

Comparative Study of Interest Rates on Education Loans

mba finance projectsAn education loan is a loan taken to help pay for an education, usually at a college or trade school, but may also be used to pay for private schools or prep schools as well. The education loan is available in several different types.

These are student loans, parent loans and private loans. Loans are also either guaranteed or unguaranteed. Student and parent loans are most likely to be guaranteed by the government, though many agencies work for the government in this respect. Unguaranteed or unsubsidized loans are usually from private lenders only, and usually can only be obtained if one has a good credit score or significant equity.

The student loan is usually the best choice education loan for a student whose parents cannot pay for his or her education. While the student remains in school, interest on this type of education loan in accrues and is paid for by the government.

A parent education loan is a good choice for parents who don‟t want their children to end their college career in debt. These can also be guaranteed, meaning that parents don‟t necessarily have to have great credit scores to get a loan. Interest rates tend to be relatively low, but a longer repayment schedule means paying quite a bit of interest.

The private education loan almost always requires good credit. Many people use the equity in their house to take out such a loan. Unlike the parent and student education loan, the private education loan is not usually need based. Often when students apply for financial aid, they are told they, or their parents, make too much money to qualify.

The federal government does not guarantee the private education loan, and payments usually begin on the loan right away. These loans usually have the highest interest rates, as well. If they are taken as part of refinancing a home, they may be more economical.

Because students frequently leave college heavily burdened with debt, it is important to consider how much of a loan one really needs. The less debt contracted the better. Before applying for an education loan, evaluate the other types of aid that may be available. There are numerous scholarships that go unclaimed each year because no one applies for them. Research into scholarships that are not need-based can often help defer some college expenses, lessening the amount one needs to borrow.

A strong banking sector is important for flourishing economy. The failures of the banking sector may have an adverse impact on other sectors. This Study will help us to understand the education loan about banking services and products. In this background this study tries to analyze the educational loan interest rate towards banking services.

In this research I have adopt the Descriptive Research method only for PNB, Syndicate bank and SBM Education loan schemes for just compare the offer document of these three banks.

Research Methodology is an important part of every project. Because it help in knowing how to select representative sample from the world or the general population, the right research tools and techniques to complete the research.

To satisfy the customer the study of consumer behavior is important because he is the king. The Research Process is based on survey method, so in order to implement the survey we go to Service Provider and the Services user which is the customers. 

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A Study on Analysis of Ratio Analysis and Performance Evaluation

mba finance projectsThe world of business today has undergone a complete metamorphosis. This process was further augmented by various round of GATT agreement that culminated into WTO a new world order to trade and business. The command economy has yielded place to market economy with wide ranging implications for Indian business and industry which have to be globally competitive in terms of technology, costs and quality. To cope up with these challenges, a new breed of professional managers is needed some of the traditional theories of management are being challenged today in terms of their relevance in the fast changing environment, and new management practices and concepts are evolving. Unfortunately, however, not many text books are available in India, which thoroughly deals with these changes and which can be gainfully used by the students of management and practicing managers alike.

The present text on financial management may be seen and appreciated in the above context. In my long associated with a number of companies, as a consultant or a director on their boards and audit committees, I have been a witness to the changes that have taken place in finance function having far reaching implication for corporate management, in recent years, therefore, financial management has attracted a lot of attention by the corporate sector, goods professionally managed companies are greatly concerned about their capital structure, cost of capital working capital management, project appraisal, corporate governance and so on. They are trying to bring down their cost of debt to international level not only by using new financial instruments but also by borrowing abroad.

LIBOR linked short term borrowing has become very common in such companies with all the world really becoming a global village, international financial management has assumed added significance unprecedented changes have been taking place in various financial sectors like banking, insurance and capital market, information technology has not only added new dimensions to the delivery of financial services, but has also provided a more rigorous analytical framework for decision making. Hence managers have deal with a many more contemporary issues in finance, economy, technology, trade and commerce etc., in the modern global village.

Finance has been aptly described as a lubricant of economic activity, without which the entire business will grind to a halt, and money has been aptly described by monetary economist called Geoffrey crowther “finance as the essential invention on which all the rest is based. With unlimited wants and limited financial resources, the financier is concerned with what is produced, requirements of funds allocation of funds selection of developmental priorities, determination of gestation periods, proper monitoring of accounts to avoid cash flow problems and to ensure the profitability of the enterprises be it in any sector of economy, public sector, private sector ,industrial, agricultural, cooperative, banking and allied enterprises.,” the finance manger has to ensure the rational decision making efforts at the each any every successive stages of pre investment and post investment. In the absence of proper appraisal system and evaluation of managerial abilities, there will be misallocation mortality and lopsided growth in undesired way leading to holocaust of economic wealth.

Financial management is that managerial activity which is concerned with the planning and controlling of the company’s financial resources. According to soloman, “financial management is concerned with efficient use of an important economic resource namely, capital funds. This can be possible only when funds are procured in a manner that the risk, cost, and control consideration are property balanced in a given situation and there is optimum utilization of funds”.

Analysis and interpretation of financial statement is a regular exercise to review the performance of the company. It was proposed to conduct a review to study the short term prospects as well as the long term trends and to arrive at the conclusion on the performance of the company. Performance review resulting in taking corrective action optimizes the performance in the subsequent period.

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A Study on Performance Evaluation of Equity Shares and Mutual Funds

mba finance projectsIn the current economic scenario interest rates are falling and fluctuation in the share market has put investors in confusion. One finds it difficult to take decision on investment. This is primarily, because of investments are risky in nature and investors have to consider various factors before investing in investment avenues.

These factors include risk, return, volatility of shares and liquidity. The main objective of comparing investment in equity shares with mutual fund schemes is to analyze the performance of mutual funds with their benchmark and comparing them with equities by using risk, return, beta and alpha as a parameter.

Historical data were taken for calculating risk, return, alpha and beta. Analysis has done on percentage method for comparing equity shares with mutual fund schemes. Compare to equities mutual funds are less risky with stable returns and mutual funds gives the investor a diversified portfolio. Those who have well knowledge in equity market they can go for equity investments rather than investing in mutual funds because no control on the expenses made by the fund manager.

The study will guide the new investor who wants to invest in equity and mutual fund schemes by providing knowledge about how to measure the risk and return of particular scrip or mutual fund scheme. The study recommends new investors to go for mutual funds rather than equities, because of high risk and market instability.

In the current economic scenario interest rates are falling and fluctuation in the share market has put investors in confusion. One finds it difficult to take decision on investment. This is primarily, because investments are risky in nature and investors have to consider various factors before investing in investment avenues. Therefore the study aims to compare equity and mutual fund schemes in form their risk, return & liquidity and also creating awareness about Equity and Mutual Fund Schemes among the investors.

Saving money is not enough. Each of us also need to invest one’s savings intelligently in order to have enough money available for funding the higher education of one’s children, for buying a house, or for one’s own golden years. But the rapidly growing number of investment avenues often led to confusion. Objectives of the study are to provide information to individual investors regarding their risk, and choosing the best investment options to match their goals and attitude to risk.

1. To compare Equity and Mutual Fund Schemes in respect of their risk & return.
2. Analyzing the performance of equity shares and mutual fund schemes with their benchmark.
3. Finding the Volatility of shares by using beta.
4. Provide information about pros and cons of investing in Equity and Mutual Funds portfolio management.

The study is limited to compare equity capital and mutual fund schemes in respect of their risk, return and liquidity. The study covers 5 randomly selected stocks out of 30 BSE, 50 Sensex companies and 5 randomly selected mutual fund schemes out of mutual fund industry in India for comparison. The analysis is strictly based on share price and unit price information. Other company performance indicators are not considered. It focuses on every month ending closing prices of during the period from 1st Apr, 2003 to 31st Mar, 2007.

The whole study can be termed as comparative study. It is also a desk research hence; there is no field work and collection of primary date for this research.

The study centres on comparing equity and mutual fund schemes in respect of their risk, return and liquidity. However, with the objective and scope of the study in mind, it was decided to base the study on return series of selected stocks and mutual fund schemes.

BSE being the premier exchange of India was chosen for selecting stocks. It is widely accepted that BSE Sensex is the one of the most reliable index of the stock exchange that reflects present day market condition. Since it is not possible to compare all the 30 scripts in the index with all Mutual Fund Schemes due to time and resource constraints, sampling techniques were considered. Randomly selected samples will facilitate inference of the population, in our case BSE Sensex and mutual fund industry in India. Hence by stratified random sampling 5 scrip’s out of 30 Sensex and 5 mutual fund schemes out of whole mutual fund industry were selected.

The initial examination of the composition of index revealed that it is composed of primarily two types of industries: manufacturing and services in the ratio of 3:2. there for to give correct picture appropriate weight was assigned to manufacturing industries and hence three scrip’s from manufacturing and two from service industries were randomly selected and in case of mutual funds it consists basically large cap, mid cap, small cap, sectorial funds and contra funds therefore one fund from each area were selected.

Monthly share price and unit prices of the selected scrip’s and units were collected from historical data. In order to avoid bias, at least three years monthly data was decided to be necessary. The reference period is from 1st Apr, 2003 to 31st Mar, 2007.

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A Study on Investment Pattern of Investors on Different Products

mba finance projectsAn investment refers to the commitment of funds at present, in anticipation of some positive rate of return in future. Today the spectrum of investment is indeed wide. An investment is confronted with array of investment avenues. Among all investment, investment in equity is in best high proportion. This is because the history of stock market is booming and bursts overnight millionaires, an instant pauper.

Indian economy is doing indeed well in recent years. The study has been undertaken to analyze the investment pattern of investment community. The main reasons behind the study are the factors like income, economy condition, and the risk covering nature of the Indian investors. The percentage of Indian investors investing in the Indian equity market is very less as compared to foreign investors.

This study has been undertaken in Asit C. Mehta Investment Interrmediates Ltd. (ACMIIL), which was incorporated in the year 1986. And the company, which is, diversified into many fields like securities, insurance, distribution, commodities and investment services.

This project contains the investors’ preferences and as well as the different factors that affect investors decision on the different investment avenues most of them investors are the clients of Asit C. Mehta Investment Interrmediates Ltd., which provides a complete bouquet of products in equity, debt, commodities, forex, depository, derivatives and allied services in India .

This study includes response of investor in choosing securities in each classification and analysis has been for the respective performance based on their returns. The findings relates to the outperforming products and investors risk taking ability while investing in each different products.
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A Study on Investment Behavior of Women Investors

mba finance projectsFinancial investment is the purchase of a financial security, such as a stock, bond, or mortgage. Investment in human capital is spending on education, training, health services, and other activities that increase the productivity of the workforce. It is the use of money for the purpose of making more money, to gain income, increase capital, or both. The purchasing of stocks, bonds, mutual funds, options, real estate, etc., made with the expectation of future income or capital gains is investment.

As a woman, and an investor, shaping of financial future is as important as the many other roles they play in life. That's why taking control today is essential for realizing their dreams for tomorrow. Whether women are just beginning to develop their investment strategy or are refining a current one, it's important to keep in mind that they should build a financial legacy for long term. At various stages of your life, you are faced with important investment and financial decisions. Your success in making these decisions with the help of a sound investment strategy can have a major impact on your income, net worth and, ultimately, quality of life in retirement.

Women today have more earning potential and more influence over financial decisions than ever before. Women represent almost half of the workforce and many businesses are owned or managed by women. Many women influence or control the majority of all consumer purchase decisions and many of the investment decisions. As a result, it is important for women to focus on finances now more than ever.

Throughout their lives, as a woman, they will be faced with different financial challenges than their male counterparts. If women are going to take control of their financial future, it’s important that they recognize those differences and empower themselves.

Earning money is only half the equation for achieving financial independence. Effectively putting your money to work for you is equally important. Though the size of household income matters, how to manage the money women have — to meet short-term obligations as well as long-term goals — determines how they live today and in the future. That's why taking control of their finances is so important. The challenges of investing are unique for each individual. In addition, circumstances are frequently different for women — and whatever choices you make will be better as a result of greater knowledge of the underlying issues and your options.

For this purpose a thorough understanding of financial planning is important for all investors. Financial planning is the process of meeting one’s life goals through the proper management of his/her finances. Life goals can include buying a home, saving for your child's education or planning for retirement. The financial planning process consists of six steps that help people to take a "big picture" look at where they are financially. Using these six steps, women can work out where they are now, what they may need in the future and what they must do to reach their goals.

The process involves gathering relevant financial information, setting life goals, examining current financial status by women and coming up with a strategy or plan for how they can meet their goals given their current situation and future plans. Financial and personal satisfaction is the result of an organized process that is commonly referred to as personal money management or personal financial planning.

Personal financial planning is the process of managing investor’s money to achieve personal economic satisfaction. This planning process allows him/her to control their financial situation. Every person, family, or household has a unique financial position, and any financial activity therefore must also be carefully planned to meet specific needs and goals.

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A Study on Formulation of Costing System

mba finance projectsModern business needs frequent cost information about business activities to plan accurately for the future, to control business results and to make a proper appraisal of the performance of persons working in the organization. The fulfillment of these goals requires details about the costs incurred and benefits (revenues) obtained which are provided by “cost accounting”.
Financial accounting is developed over the time to record, summarize and present the financial transactions or events, which can be expressed in terms of money. This function was primarily concerned with record-keeping leading to preparation of Profit and Loss Account and Balance Sheet. The information obtained through financial accounts is useful to the shareholders, creditors, financial analysts, labour union, government authorities etc. However, the information generated by financial accountancy for several purposes is not sufficient for decision making in many areas, such as:

1. Acquisition of plant and machinery or other assets;
2. Determining product selection-addition or dropping or changing product combination in case of multi product company;
3. Determining output level;
4. Determining or revising prices of products;
5. Whether profit earned is optimum as compared with competitors as well as earlier years.

The need of data for such details led to the development of cost accountancy. The Institute of Cost and Management Accountants, London, has defined cost accountancy as the “application of costing and cost accounting principles, methods and techniques to the science, art and practice of cost control and ascertainment of profitability as well as presentation of information for the purpose of managerial decision-making”. Thus, it includes costing, cost accounting, budgetary control, cost control and cost audit.

The Institute of Cost and Management Accountants, London, has defined costing as the ascertainment of costs. Costing includes the “techniques” and “processes” of ascertaining costs. The ‘techniques’ refers to the principles and rules which are applied for ascertaining costs of products manufactured and services rendered. The ‘process’ includes the day to day routine of determining costs within the method of costing adopted by the business enterprise.

The law does not compel to install a costing system. However, the Government has the power to order installation of such system in such industries as the Government may deem fit. The system of costing is installed by the organizations on the grounds of its utility. A system of costing has to be designed to suit the needs of the organization. A good system of costing helps to achieve the objectives. It has the following essentials:
1. Flexibility- The system should have flexibility or adaptability to meet the changing needs of the organization. Expansion or contraction should be adopted with minimum change.
2. Integrated- It should be a well-knit integrated with financial accounting system. The original records are available under financial accounts. The need for co-relation between two cannot be over-emphasized.
3. Promptness- Any information or report is useful only if the same is furnished regularly and without any delay. The Cost Accounting System should ensure this aspect.
4. Accuracy- The system should ensure accurate information. To ensure this, the system should provide checks to verify data compiled in a systematic manner.
5. Smooth flow of data- Coat Accounting needs flow of data from every section in the organization and also reports on the performance of individuals. The objective of this system should be properly explained.
6. Continuous review- The system should be constantly reviewed and supervised, so that it gives what is expected of it. If it is not done, the system may become static.
7. Economy- The system should be economical and should not create financial burden on the organization.
8. Comparability- The system should enable the management to compare the data with the past. It should also facilitate departmental comparison.
9. Reconciliation- The system should facilitate reconciliation between cost accountancy and financial accounting easily.
10. Simplicity- The system should be as simple as possible.
11. Standardization- Forms and procedures under this system should be standardized.
12. Management support- The management at all levels should support the system and in its operations.

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Construction of Optimal Portfolio using Sharpe’s Single Index Model

mba finance projectsCapital market comprising the new issues market and secondary markets or stock exchanges, is one of the most sensitive markets in the whole economy. The secondary market enables investors to continuously rearrange their assets if they so desire by divesting themselves of such assets while others can use their surplus funds to acquire them. This rearrangement is not a product of instant decisions but a thorough research.

The major tools used for this are Fundamental analysis and technical analysis. Of which fundamental analysis requires a large amount of inside data regarding the companies concerned and also requires lot of calculations and deep knowledge. Whereas technical analysis is comparatively a simpler tool for an investor to decide his short/medium term investment decisions.

By closely watching the price changes, its trend can be analyzed and the timings of entry and exit can be decided. In short his decisions such as when to buy or when to sell particular scrip or when to reorganize his portfolio can be influenced by the technical analysis, moving averages method where in the daily prices are compared with average of certain number of days.

Allegro Capital Advisors Pvt Ltd. one of the oldest and largest broking firms in the Industry. The company’s offerings include stock broking through the branch and Internet, Investments in IPO, Mutual funds and Portfolio management service. Allegro Capital Advisors Pvt Ltd has a full-fledged research division involved in Macro Economic studies, Sectoral research and Company Specific Equity Research combined with a strong and well networked sales force which helps deliver current and up to date market information and news. Allegro Capital Advisors Pvt Ltd’ network spans over 112 cities with 351 outlets, with an employee workforce beyond 5100.

The company is also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL), providing dual benefit services wherein the investors can avail the company’s brokerage services for executing the transactions and the depository services for settling them. Allegro Capital Advisors Pvt Ltd. processes more than 4,00,000 trades a day which is much higher even than some of the renowned international brokers.

Allegro Capital Advisors Pvt Ltd has over Rs. 3300 crore of Assets Under Management (AUM) as of 31st March, 2008. The portfolio Management Service provides top class service, catering to the high end of the market. Portfolio Management from Allegro Capital Advisors Pvt Ltd comes as an answer to those who would like to grow exponentially on the crest of the stock market, with the backing of an expert. Unlike many other companies, Allegro Capital Advisors Pvt Ltd., has a Centralised Risk Management System and an in-house Research Team which allows it to offer the same levels of service to customers across all locations. Allegro Capital Advisors Pvt Ltd has been the first in providing many products and services which have now become industry standards.

Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200 years ago. The earliest records of security dealings in India are meager and obscure. The East India Company was the dominant institution in those days and business in its loan securities used to be transacted towards the close of the eighteenth century.

By 1830's business on corporate stocks and shares in Bank and Cotton presses took place in Bombay. Though the trading list was broader in 1839, there were only half a dozen brokers recognized by banks and merchants during 1840 and 1850.

The 1850's witnessed a rapid development of commercial enterprise and brokerage business attracted many men into the field and by 1860 the number of brokers increased into 60. In 1860-61 the American Civil War broke out and cotton supply from United States of Europe was stopped; thus, the 'Share Mania' in India begun. The number of brokers increased to about 200 to 250. However, at the end of the American Civil War, in 1865, a disastrous slump began (for example, Bank of Bombay Share which had touched Rs 2850 could only be sold at Rs. 87).

At the end of the American Civil War, the brokers who thrived out of Civil War in 1874, found a place in a street (now appropriately called as Dallal Street) where they would conveniently assemble and transact business. In 1887, they formally established in Bombay, the "Native Share and Stock Brokers' Association" (which is alternatively known as “The Stock Exchange "). In 1895, the Stock Exchange acquired a premise in the same street and it was inaugurated in 1899. Thus, the Stock Exchange at Bombay was consolidated.

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