STUDY THE UNDERPRICING AND PRICING MECHANISMS USED IN IPOS IN BSE

Size: px
Start display at page:

Download "STUDY THE UNDERPRICING AND PRICING MECHANISMS USED IN IPOS IN BSE"

Transcription

1 STUDY THE UNDERPRICING AND PRICING MECHANISMS USED IN IPOS IN BSE Prashant Kumar 1, Mukesh Kumar 2 1,2 Research Scholar Department of Business Administration, University of Lucknow, (India) ABSTRACT Initial Public offerings are the fresh issue of share in primary market by company for the first time to generate fund for investment in company s growth and expansion. Underpricing is one of the phenomenons that common in IPOs Market in most of the country. Underpricing in IPOs is the difference between the first day open price and closing price of IPOs. When the Offer price is lower than the first day trade price the IPOs is said to be underpriced. When the first day trade price is lower than the offer price the IPOs are said to be overpriced. So the Underpricing and Overpricing is related with the first day open price and close price of same day of IPOs. In this paper we have study pricing mechanisms used in issuing IPOs and we have found that Book Building is preferred method of pricing in India. The data have been taken data from official website of BSE. For data analysis we have taken the help of Excel and SPSS. The work of different scholars and researchers are reviewed to support the stud and included as a part of literature review. Based on our analysis concluded is made and references are given acknowledging the work of other researchers. Keywords: Book Building, Fixed pricing, IPO, Overpricing, Underpricing. I. INTRODUCTION 1.1 Initial Public Offerings Initial public offerings are the fresh issue of securities first time in primary market. It is a process by which unlisted company get listed in capital market. In India the regulatory authority of capital market is SEBI, so before going to public company has to satisfy certain criteria and guidelines as specified by SEBI for company to get listed in BSE and NSE. The company goes public to generate fund for the growth and expansion of company. Once the IPO is listed in primary market and trading start it converted into secondary market. 1.2 Pricing Mechanisms In India there are two types of pricing mechanisms used mainly Fixed Price Method and Book Building Method. In fixed price, the price is set from the date the prospectus is registered. Price at which the securities are allotted is known in advance to the investor. Demand for the securities offered is known only after the closure of the issue. While payment is made at the time of subscription where in refund is given after allocation. Book building is a process undertaken by which demand for the securities proposed to be issued by a body corporate is elicited and built up and the price for such securities is assessed for the determination of the quantum of securities to be issued by means of a notice, circular, advertisement, document or information memoranda or offer document SEBI. In 1998 SEBI formulated the rules for issuing shares through Book Building, It was recommended by Malegam Committee in P a g e

2 1.3 Concept of Underpricing and Overpricing of IPOs Underpricing in IPOs is the difference between the first day open price and closing price of IPOs. When the Offer price is lower than the first day trade price the IPOs is said to be underpriced. When the first day trade price is lower than the offer price the IPOs are said to be overpriced. So the Underpricing and Overpricing is related with the first day open price and close price of same day of IPOs. Mathematically it can be represented as Underpricing = (P1-P0)/ P0, Where P1= Listing day closing price of IPOs and P0= Opening Price of IPOs II. LITERATURE REVIEW Mishra, A. in his paper Underpricing of Initial public offerings in India: A comparison of the fixed price and book building methods explains that for IPOs using a book-build a significant positive relationship is documented between revisions in the offer price and the ensuing level of underpricing. Bansal, R., and A. Khanna in their study Pricing Mechanism and explaining underpricing of IPOs: evidence from Bombay stock exchange, India. found that there were no significant difference in the level of proportion of under pricing and overpricing of IPOs that priced through book build with those that are priced through fixed price option. These results are not in agreement with earlier researches. ahoo, S. and Prabina Rajib, 2010 in his work After market pricing performance of Initial Public offerings (IPOs): Indian IPO Market. Found that IPOs are underpriced on the initial listing days and thereafter underperforms compared to the market benchmark. Work also evaluated the long-run price performance of IPOs in Indian capital market. Jain, N. and C. Padmavathi, in paper tilled Underpricing of IPOs in Indian capital Market found that those IPOs also underpriced that are issued by book building method and is the result of investor s high willingness to pay, high demand of issue, high firm values and high fluctuations in the market returns. They also found that high value firm is more underpriced in India. Pande, A. and R. Vaidyanathan, in their study Determinants of IPO Underpricing in the National Stock Exchange of India. found that degree of under pricing over the year has reduced in India and gain from the IPOs getting diffused within one month of the listing of the firms and on an average the gains in one month after listing are lesser than those of the market. Degeorge, F., F. Derrien, and K.L. Womack, 2007, in their study states the book building has captured most of the market share globally but is the most costly procedure available in terms of direct and indirect initial under pricing. Bora, Bedanta; Anindita Adhikari and Andajeya Jha (2012), in their paper An empirical Perspective on Book building as Effective tool for price discovery proved that Book building mechanisms is preferred over other price mechanisms followed in India but the issue raised through fixed price are relatively more promising in long terms as compared to the issue raised through book building method. Ritter, Jay R. (2003) in his study Difference between European and American IPO Markets. Examines that fixed price offerings have become uncommon in recent years in France as well as other European nation. 151 P a g e

3 Kumar, P. (2015) in his study on Pricing Mechanisms for IPOs Issued in India: A Comparison of Book Building and Fixed Price Methods states that book building is adopted by most of the companies in India and is popular than fixed Price option. Kumar, P. and Dr. Mohammad Anees (2014) in their study on A study on popularity of Book building over fixed price option states that due to flexibility in Book Building method it is popular and used by most of the companies going for IPOs. III. OBJECTIVE The objectives of study are as follows: i) To examine the popular pricing mechanisms in issuing IPOs. ii) To study the underpricing and overpricing of IPOs and examine the magnitude of underpricing and overpricing with the pricing mechanisms used. IV. RESEARCH METHODOLOGY To meet the objective data collected from official website of BSE is taken. The time period is April 2010 march Sample is IPOs issued in BSE, and the sample size is 139. The SPSS and Excel are used to analyze the data using appropriate statistical tool. Steps in analysis are as follows: i. To examine which pricing mechanisms is popularly used we used T- test. ii. Underpricing is measured by the formula : Underpricing = (P1-P0)/ P0, Where P1= Listing day closing price of IPOs and P0= Opening Price iii. We have determine the no of issues underpriced and overpriced and also in which mechanisms they are underpriced or overpriced as tabulated in table in analysis part. V. DATA ANALYSIS AND FINDINGS One-Sample Statistics N Mean Std. Deviation Std.Error Mean Fixed Price Book Building Table-1 One-Sample Test Test Value = 0 t- value Df Sig.(2-tailed) Mean Difference 95% Confidence Interval of the Difference Lower Upper Fixed Price Book Building Table P a g e

4 Table 1 show that the mean value of fixed price is 0.39 and that for Book Building is 0.61 and which is clear that the Book Building is preferable pricing mechanisms. Table 2 shows value of t for fixed price is and for Book Building is which is greater than Thus by following the decision rule, the null hypothesis is rejected and the alternate hypothesis is accepted, this is confirmed by the significance level which is that is below It can be concluded that Book building is preferred over Fixed Price method for issuing IPOs in India. Pricing Mechanisms and Underpricing & Overpricing of IPOs Table-3 IPOs Book Fixed Under Over BB BB FP FP Year Issued Build Price priced priced Underpriced Overpriced Underpriced Overpriced From Table 3 we have found that during the study period we have taken (April March 2015) the total no of IPOs issued were 122 out of which 74 were issued through Book Building method and 48 were issued using Fixed Price option which clearly shows that Book Building is more popular method of using IPOs in India which is statistically proven using t-test (table2). During the period 48 IPOs were underpriced in which 29 were issued using Book Building and 19 by Fixed price method and 58 overpriced in which 41 were issued by Book Building and 17 by fixed price method. VI. CONCLUSION From the study of IPOs issued in BSE from April, March 2015 we examine that most of the IPOs are issued through Book Building which is supported statistically using t-test as shown in table 1 which is also supported by the descriptive analysis from table 3. Our study is also supported from the work of different researcher about IPOs pricing mechanisms that we reviewed in our study. The study also focuses on to find out the underpricing and overpricing of IPOs which is shown in table 3. Where we have seen that most of the IPOs underpriced as well as overpriced were issued using Book Building. REFERENCES [1] Mishra, A.K. Underpricing of Initial Public Offerings in India: A comparison of the Fixed Price and Book Building Methods. Indian journal of Capital Market (October- December 2008), [2] Sahoo, S. and Prabina Rajib, After market pricing performance of Initial Public offerings (IPOs): Indian IPO Market. Vikalpa Vol 35 No-4 (Oct- Dec 2010), [3] Bora, Bedanta; Anindita Adhikari and Andajeya Jha (2012), An empirical Perspective on Book building as Effective tool for price discovery, IPEDR vol P a g e

5 [4] Bansal, R. and Dr. Ashu Khanna, Pricing Mechanism and explaining underpricing of IPOs: evidence from Bombay stock exchange, India. International Journal of Research in Finance & Marketing Vol-2 Issue -2, [5] Jain, N. and C.Padmavathi, Underpricing of IPOs in Indian capital Market Vikalpa (Jan march 2012) vol-37 [6] Degeorge, F., Fracois Derrien and Kent L. Womack,(2007) Analyst hype in IPOs: Explaining the popularity of Bok building. The Review of Financial studies vol-20 no4. [7] Pande, A. and R. Vaidyanathan, Determinants of IPO Underpricing in the National Stock Exchange of India. Electronic copy available at: [8] Ritter, Jay R. Difference between European and American IPO Markets. (2003) European financial Management vol-9. No-4, [9] Kumar, P. and Dr. Anees, M., A study on popularity of Book building over fixed price option, International Journal in Multidisciplinary and Academic Research, Vol. 3, May-June (ISSN ) online, [10] Kumar, P. Pricing Mechanisms for IPOs Issued in India: A Comparison of Book Building and Fixed Price Methods, Emerging Issues in Accounting and Finance, ISBN No , [11] [12] [13] [14] Bibliography: [1] Lee, N. and Ian Lings, Doing Business Research- A Guide to theory and Practice, Sage Publication 2010 [2] Khan & Jain, Financial Management, TMH, 2002 [3] Subramanyam, Investment Banking, TMH, [4] Pathak, B.V. The Indian Financial System, Pearson Education II Edition. [5] Kunjukunju, B. and S. Mohanan., Financial Markets and Financial Services in India, New Century publication Annexure: Figure P a g e

6 Figure 2 Figure P a g e

UNDERPRICING OF INITIAL PUBLIC OFFERINGS: AN INDIAN EVIDENCE

UNDERPRICING OF INITIAL PUBLIC OFFERINGS: AN INDIAN EVIDENCE Available online at : http://euroasiapub.org/current.php?title=ijrfm, pp. 44~49 Thomson Reuters Researcher ID: L-5236-2015 UNDERPRICING OF INITIAL PUBLIC OFFERINGS: AN INDIAN EVIDENCE Sahil Narang 1, Assistant

More information

A STUDY ON INITIAL PERFORMANCE OF IPO S IN SINDIA DURING COMPARISON OF BOOK BUILDING AND FIXED PRICE MECHANISM

A STUDY ON INITIAL PERFORMANCE OF IPO S IN SINDIA DURING COMPARISON OF BOOK BUILDING AND FIXED PRICE MECHANISM A STUDY ON INITIAL PERFORMANCE OF IPO S IN SINDIA DURING 2015-16 - COMPARISON OF BOOK BUILDING AND FIXED PRICE MECHANISM Dr. P. Roopa Assistant Professor, Sree Vidyanikethan Institute of Management, Tirupati

More information

SHORT RUN & LONG RUN PERFORMANCE OF IPO & FPO INDIAN STOCK MARKET

SHORT RUN & LONG RUN PERFORMANCE OF IPO & FPO INDIAN STOCK MARKET Abstract SHORT RUN & LONG RUN PERFORMANCE OF IPO & FPO INDIAN STOCK MARKET By Bhakti Mulchandani (Chandni Gerelani) Now-a-days, Initial Public Offer (IPO) has become one of the preferred investments for

More information

DOES IPO GRADING POSITIVELY INFLUENCE RETAIL INVESTORS? A QUANTITATIVE STUDY IN INDIAN CAPITAL MARKET

DOES IPO GRADING POSITIVELY INFLUENCE RETAIL INVESTORS? A QUANTITATIVE STUDY IN INDIAN CAPITAL MARKET DOES IPO GRADING POSITIVELY INFLUENCE RETAIL INVESTORS? A QUANTITATIVE STUDY IN INDIAN CAPITAL MARKET Abstract S.Saravanan, Research Scholar, Sathyabama University, Chennai Dr.R.Satish, Associate Professor,

More information

Status in Quo of Equity Derivatives Segment of NSE & BSE: A Comparative Study

Status in Quo of Equity Derivatives Segment of NSE & BSE: A Comparative Study [VOLUME 5 I ISSUE 4 I OCT. DEC. 2018] e ISSN 2348 1269, Print ISSN 2349-5138 http://ijrar.com/ Cosmos Impact Factor 4.236 Status in Quo of Equity Derivatives Segment of NSE & BSE: A Comparative Study Shweta

More information

An Empirical Analysis on Effect of IPO s on Long Run Stock Performance of Selected Listed Companies in the National Stock Exchange of India

An Empirical Analysis on Effect of IPO s on Long Run Stock Performance of Selected Listed Companies in the National Stock Exchange of India An Empirical Analysis on Effect of IPO s on Long Run Stock Performance of Selected Listed Companies in the National Stock Exchange of India K. Bhagya Lakshmi Assistant Professor School of Management Studies,

More information

An Empirical Investigation of Investors Perception towards Derivative Trading

An Empirical Investigation of Investors Perception towards Derivative Trading Global Journal of Finance and Management. ISSN 0975-6477 Volume 6, Number 2 (2014), pp. 99-104 Research India Publications http://www.ripublication.com An Empirical Investigation of Investors Perception

More information

An Empirical Examination of Firm Characteristics and Its Impact on Listing Day Return

An Empirical Examination of Firm Characteristics and Its Impact on Listing Day Return International Journal of Finance and Accounting 2014, 3(5): 277-285 DOI: 10.5923/j.ijfa.20140305.01 An Empirical Examination of Firm Characteristics and Its Impact on Listing Day Return Poonam Rani National

More information

Journal of Exclusive Management Science June Vol 4 Issue 6 - ISSN

Journal of Exclusive Management Science June Vol 4 Issue 6 - ISSN Empirical Investigation on Bonds Mutual Funds and their Influence due to National Economic Event * Shailesh Tandon ** (Dr) Akanssha Nigam *** Prof (Dr) Bobby W Lyall * Assistant Professor, BBA Department,

More information

An Empirical Investigation of Short-Run Performance of Ipos in India

An Empirical Investigation of Short-Run Performance of Ipos in India An Empirical Investigation of Short-Run Performance of Ipos in India Himanshu Puri Abstract Initial Public Offering (IPO), is a way for companies to go public and meet its financing needs. IPOs are known

More information

Performance Analysis of Initial Public Offering in Indian Context

Performance Analysis of Initial Public Offering in Indian Context Performance Analysis of Initial Public Offering in Indian Context ABSTRACT Initial Public Offering (IPOs) is a company's first offering of equity to public. Initial Public Offer is a major source of capital

More information

A STUDY ON BETA VALUE OF BANKING SECTOR STOCKS IN NSE NIFTY

A STUDY ON BETA VALUE OF BANKING SECTOR STOCKS IN NSE NIFTY International Journal of Financial Management (IJFM) ISSN(P): 2319-491X; ISSN(E): 2319-4928 Vol. 7, Issue 1, Dec Jan 2018, 21-26 IASET A STUDY ON BETA VALUE OF BANKING SECTOR STOCKS IN NSE NIFTY Binoosa

More information

To study Influence of IPO Rating on demand in Indian IPO market in special context to Retail Investors.

To study Influence of IPO Rating on demand in Indian IPO market in special context to Retail Investors. To study Influence of IPO Rating on demand in Indian IPO market in special context to Retail Investors. Mrs. Amita Jadhav (Research Scholar, The Indian Institute of cost and Management Studies and Research

More information

STOCK MARKET CRISIS AND IPOS UNDERPRICING: EXPERIENCE FROM INDIAN STOCK MARKET

STOCK MARKET CRISIS AND IPOS UNDERPRICING: EXPERIENCE FROM INDIAN STOCK MARKET International Journal of Accounting and Financial Management Research (IJAFMR) ISSN 2249-6882 Vol. 2 Issue 3 Sep 2012 21-32 TJPRC Pvt. Ltd., STOCK MARKET CRISIS AND IPOS UNDERPRICING: EXPERIENCE FROM INDIAN

More information

Mr. Kedar Mukund Phadke 1, Dr. Manoj S. Kamat 2 ABSTRACT

Mr. Kedar Mukund Phadke 1, Dr. Manoj S. Kamat 2 ABSTRACT IMPACT OF IPO GRADING ON LISTING RETURNS AT THE NATIONAL STOCK EXCHANGE (NSE) IN INDIA Mr. Kedar Mukund Phadke 1, Research Scholar Assistant Professor National Institute of Construction Management and

More information

PERFORMANCE APPRAISAL OF HPCL THROUGH FREE CASH FLOW

PERFORMANCE APPRAISAL OF HPCL THROUGH FREE CASH FLOW Indian Journal of Accounting (IJA) 18 ISSN : 0972-1479 (Print) 2395-6127 (Online) Vol. XLVIII (2), December, 2016, pp. 18-24 PERFORMANCE APPRAISAL OF HPCL THROUGH FREE CASH FLOW Dr. S. K. Khatik Dr. Amit

More information

MEASURING THE PROFITABILITY AND PRODUCTIVITY OF BANKING INDUSTRY: A CASE STUDY OF SELECTED COMMERCIAL BANKS IN INDIA

MEASURING THE PROFITABILITY AND PRODUCTIVITY OF BANKING INDUSTRY: A CASE STUDY OF SELECTED COMMERCIAL BANKS IN INDIA MEASURING THE PROFITABILITY AND PRODUCTIVITY OF BANKING INDUSTRY: A CASE STUDY OF SELECTED COMMERCIAL BANKS IN INDIA Neha Saini Assistant Professor, Institute of Information Technology and Management,

More information

An Examination of the Systematic Risk Determinants in the Pharmaceutical Industry

An Examination of the Systematic Risk Determinants in the Pharmaceutical Industry International Journal of Business and Management Invention (IJBMI) ISSN (Online): 2319 8028, ISSN (Print): 2319 801X Volume 8 Issue 01 Ver. IV January 2019 PP 91-96 An Examination of the Systematic Risk

More information

NON-PERFORMING ASSETS IS A THREAT TO INDIA BANKING SECTOR - A COMPARATIVE STUDY BETWEEN PRIORITY AND NON-PRIORITY SECTOR

NON-PERFORMING ASSETS IS A THREAT TO INDIA BANKING SECTOR - A COMPARATIVE STUDY BETWEEN PRIORITY AND NON-PRIORITY SECTOR NON-PERFORMING ASSETS IS A THREAT TO INDIA BANKING SECTOR - A COMPARATIVE STUDY BETWEEN PRIORITY AND NON-PRIORITY SECTOR Dr. G Nagarajan* N. Sathyanarayana** A. Asif Ali** LENDING IN PUBLIC SECTOR BANKS

More information

An Analytical Study to Identify the Dependence of BSE 100 on FII & DII Activity (Study Period Sept 2007 to October 2013)

An Analytical Study to Identify the Dependence of BSE 100 on FII & DII Activity (Study Period Sept 2007 to October 2013) International Journal of Business and Management Invention ISSN (Online): 2319 8028, ISSN (Print): 2319 801X Volume 3 Issue 8 ǁ August. 2014 ǁ PP.12-16 An Analytical Study to Identify the Dependence of

More information

THE IMPACT OF OPERATIONAL RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA

THE IMPACT OF OPERATIONAL RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA International Journal of Economics, Commerce and Management United Kingdom Vol. IV, Issue 6, June 2016 http://ijecm.co.uk/ ISSN 2348 0386 THE IMPACT OF OPERATIONAL RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA

More information

Under Pricing Anomaly Empirical Evidence from Indian Capital Market

Under Pricing Anomaly Empirical Evidence from Indian Capital Market ISSN 2278 0211 (Online) Under Pricing Anomaly Empirical Evidence from Indian Capital Market Amit Hedau Research Associate, Institute of Management Technology, Nagpur, India Dr. Vikram K. Joshi Assistant

More information

Journal of Advance Management Research, ISSN: Vol.05 Issue-03, (August 2017), Impact Factor: 4.598

Journal of Advance Management Research, ISSN: Vol.05 Issue-03, (August 2017), Impact Factor: 4.598 LEVERAGE ANALYSIS AND ITS IMPACT ON PROFITABILITY OF SELECT STEEL COMPANIES OF INDIA TRADED IN BOMBAY STOCK EXCHANGE (BSE) Dr.J.Michael Sammanasu PhD Associate Professor St. Joseph s Institute of Management

More information

Effect of FIIs buying of Equity (in India) on Bombay Stock Exchange (BSE) Sensex: A Karl Pearson s Correlation Analysis

Effect of FIIs buying of Equity (in India) on Bombay Stock Exchange (BSE) Sensex: A Karl Pearson s Correlation Analysis Effect of FIIs buying of Equity (in India) on Bombay Stock Exchange (BSE) Sensex: A Karl Pearson s Correlation Analysis Vinod Kumar Bhatnagar Assistant Professor, Department of Management, IPS College

More information

THE IMPACT OF CREDIT RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA

THE IMPACT OF CREDIT RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA International Journal of Economics, Commerce and Management United Kingdom Vol. IV, Issue 6, June 2016 http://ijecm.co.uk/ ISSN 2348 0386 THE IMPACT OF CREDIT RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA

More information

INTERNATIONAL JOURNAL OF MANAGEMENT (IJM)

INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) Proceedings of the 2 nd International Conference on Current Trends in Engineering and Management ICCTEM -2014 ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume

More information

Capital Structure & Long Term Solvency: A Study on Central Coalfield Limited

Capital Structure & Long Term Solvency: A Study on Central Coalfield Limited Volume-7, Issue-2, March-April 217 International Journal of Engineering and Management Research Page Number: 333-339 Capital Structure & Long Term Solvency: A Study on Central Coalfield Limited Vijay Kumar

More information

Patterns in Trading Volume of Different Derivative Instruments in Indian Stock Market A Study with Reference to NSE & BSE

Patterns in Trading Volume of Different Derivative Instruments in Indian Stock Market A Study with Reference to NSE & BSE International Journal of Accounting & Business Management Vol. 2 (No.1), April, 2014 Page: 103-111 ISSN: 2289-4519 This work is licensed under a Creative Commons Attribution 4.0 International License.

More information

A Study of Economic Value Added (EVA) & Market Value Added (MVA) of Hindustan Petroleum Corporation Limited

A Study of Economic Value Added (EVA) & Market Value Added (MVA) of Hindustan Petroleum Corporation Limited Global Journal of Economics and Business Vol. 6, No. 1, 2019, pp. 225-237 Refaad for Studies and Research e-issn 2519-9293, p-issn 2519-9285 www.refaad.com A Study of Economic Value Added (EVA) & Market

More information

PERFORMANCE EVALUATION OF LIQUID DEBT MUTUAL FUND SCHEMES IN INDIA

PERFORMANCE EVALUATION OF LIQUID DEBT MUTUAL FUND SCHEMES IN INDIA International Journal of Management, IT & Engineering Vol. 8 Issue 6, June 2018, ISSN: 2249-0558 Impact Factor: 7.119 Journal Homepage: Double-Blind Peer Reviewed Refereed Open Access International Journal

More information

Evaluation of FCFF in Post Acquisition - A Case Study of Bharti Airtel acquiring Zain Africa

Evaluation of FCFF in Post Acquisition - A Case Study of Bharti Airtel acquiring Zain Africa Evaluation of FCFF in Post Acquisition - A Case Study of Bharti Airtel acquiring Zain Africa Anusha B S 1 Dr. Manoj Kumara N V 2 1 Research Student, Department of Management Sciences, Maharaja Institute

More information

A STUDY ON THE IMPLICATIONS OF CORPORATE RESTRUCTURING

A STUDY ON THE IMPLICATIONS OF CORPORATE RESTRUCTURING A STUDY ON THE IMPLICATIONS OF CORPORATE RESTRUCTURING Dr. Bernadette D silva Director, K.G. Mittal Institute of Management, I.T & Research, Malad (West), Mumbai- 64, Email: Bernadette.dsilva@gmail.com

More information

A STUDY ON TESTING OF EFFICIENT MARKET HYPOTHESIS WITH SPECIAL REFERENCE TO SELECTIVE INDICES IN THE GLOBAL CONTEXT: AN EMPIRICAL APPROACH

A STUDY ON TESTING OF EFFICIENT MARKET HYPOTHESIS WITH SPECIAL REFERENCE TO SELECTIVE INDICES IN THE GLOBAL CONTEXT: AN EMPIRICAL APPROACH 17 A STUDY ON TESTING OF EFFICIENT MARKET HYPOTHESIS WITH SPECIAL REFERENCE TO SELECTIVE INDICES IN THE GLOBAL CONTEXT: AN EMPIRICAL APPROACH R.Jayaraman Assistant professor Faculty of Management Studies

More information

SECTOR WISE INVESTMENT PREFERENCE OF RETAIL INVESTORS - A STUDY OF CITY KOLKATA

SECTOR WISE INVESTMENT PREFERENCE OF RETAIL INVESTORS - A STUDY OF CITY KOLKATA Inno Space (SJIF) Impact Factor : 5.509(Morocco) e-issn : 2347-9671, p- ISSN : 2349-0187 Vol - 4, Issue- 4, April 2016 ISI Impact Factor : 1.259 (Dubai, UAE) SECTOR WISE INVESTMENT PREFERENCE OF RETAIL

More information

International Journal of Business and Administration Research Review, Vol. 3, Issue.12, Oct - Dec, Page 59

International Journal of Business and Administration Research Review, Vol. 3, Issue.12, Oct - Dec, Page 59 PERFORMANCE EVALUATION, COMPARATIVE ANALYSIS AND FACTORS INFLUENCING THE EFFICIENCY OF DISTRICT CENTRAL CO-OPERATIVE BANKS A STUDY WITH REFERENCE TO SOUTHERN STATES OF INDIA Mr.F.Franco authers * Dr.R.Karpagavalli**

More information

PERFORMANCE OF LARGE CAP SHARE AND SMALL CAP SHARE: A COMPARATIVE STUDY OF SELECTED COMPANIES SHARES

PERFORMANCE OF LARGE CAP SHARE AND SMALL CAP SHARE: A COMPARATIVE STUDY OF SELECTED COMPANIES SHARES PERFORMANCE OF LARGE CAP SHARE AND SMALL CAP SHARE: A COMPARATIVE STUDY OF SELECTED COMPANIES SHARES Dr. Yagnesh M Dalvadi Faculty, PG Department of Business Studies, Sardar Patel University, Vallabh Vidyanagar,

More information

A Comparative Study of Life Insurance Corporation of India and Bajaj Allianz Life Insurance Co.Ltd. on Customer Satisfaction

A Comparative Study of Life Insurance Corporation of India and Bajaj Allianz Life Insurance Co.Ltd. on Customer Satisfaction A Comparative Study of Life Insurance Corporation of India and Bajaj Allianz Life Insurance Co.Ltd. on Customer Satisfaction Shilpa Agarwal 1 A. K. Mishra 2 1.Research Scholar 2.Professor, Deptt. Of Commerce

More information

A Comparative Study of Life Insurance Corporation of India and Bajaj Allianz Life Insurance Co. Ltd. on Customer Satisfaction

A Comparative Study of Life Insurance Corporation of India and Bajaj Allianz Life Insurance Co. Ltd. on Customer Satisfaction EUROPEAN ACADEMIC RESEARCH Vol. V, Issue 2/ May 2017 ISSN 2286-4822 www.euacademic.org Impact Factor: 3.4546 (UIF) DRJI Value: 5.9 (B+) A Comparative Study of Life Insurance Corporation of India and Bajaj

More information

AN EMPIRICAL ANALYSIS ON SEMI STRONG FORM EFFICIENCY IN SELECT FMCG COMPANIES LISTED IN NSE

AN EMPIRICAL ANALYSIS ON SEMI STRONG FORM EFFICIENCY IN SELECT FMCG COMPANIES LISTED IN NSE INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976-6510(Online), ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume 6, Issue 1, January

More information

DETAILS OF RESEARCH PAPERS

DETAILS OF RESEARCH PAPERS DETAILS OF RESEARCH PAPERS RESEARCH PAPER-I Title: A Comparative Study on Cash Flow Statements of Tata Chemicals Ltd. and Pidilite Chemicals Ltd. Author-1: Kalpesh B. Gelda (Assistant Professor, National

More information

Research Article Volume 6 Issue No. 5

Research Article Volume 6 Issue No. 5 DOI 10.4010/2016.1292 ISSN 2321 3361 2016 IJESC Research Article Volume 6 Issue No. 5 The Effect of Working Capital Management in the Liquidity of Nokia Corporation: A Study with Special Reference to the

More information

An Analysis of Anomalies Split To Examine Efficiency in the Saudi Arabia Stock Market

An Analysis of Anomalies Split To Examine Efficiency in the Saudi Arabia Stock Market An Analysis of Anomalies Split To Examine Efficiency in the Saudi Arabia Stock Market Mohammed A. Hokroh MBA (Finance), University of Leicester, Business System Analyst Phone: +966 0568570987 E-mail: Mohammed.Hokroh@Gmail.com

More information

JOURNAL OF INTERNATIONAL ACADEMIC RESEARCH FOR MULTIDISCIPLINARY Impact Factor 2.417, ISSN: , Volume 4, Issue 6, July 2016

JOURNAL OF INTERNATIONAL ACADEMIC RESEARCH FOR MULTIDISCIPLINARY Impact Factor 2.417, ISSN: , Volume 4, Issue 6, July 2016 A COMAPARATIVE STUDY ON MEASURING THE OPERATING EFFICIENCY OF PUBLIC SECTOR NON-LIFE INSURANCE COMPANIES OF INDIA RITU HOODA 1 DR. RAJKUMAR 2 KESHAV KUMAR 3 1 Research Scholar, MDU, Rohtak, India 2 Professor,

More information

Testing Market Efficiency Using Lower Boundary Conditions of Indian Options Market

Testing Market Efficiency Using Lower Boundary Conditions of Indian Options Market Testing Market Efficiency Using Lower Boundary Conditions of Indian Options Market Atul Kumar 1 and T V Raman 2 1 Pursuing Ph. D from Amity Business School 2 Associate Professor in Amity Business School,

More information

Influence of Risk Perception of Investors on Investment Decisions: An Empirical Analysis

Influence of Risk Perception of Investors on Investment Decisions: An Empirical Analysis Journal of Finance and Bank Management June 2014, Vol. 2, No. 2, pp. 15-25 ISSN: 2333-6064 (Print) 2333-6072 (Online) Copyright The Author(s). 2014. All Rights Reserved. Published by American Research

More information

FOREIGN DIRECT INVESTMENT AND ITS IMPACT ON GROSS DOMESTIC PRODUCT: A COMPARISON OF INDIA AND CHINA. *Dr. Sanjeet Kumar & ** Vivek Jangid

FOREIGN DIRECT INVESTMENT AND ITS IMPACT ON GROSS DOMESTIC PRODUCT: A COMPARISON OF INDIA AND CHINA. *Dr. Sanjeet Kumar & ** Vivek Jangid FOREIGN DIRECT INVESTMENT AND ITS IMPACT ON GROSS DOMESTIC PRODUCT: A COMPARISON OF INDIA AND CHINA *Dr. Sanjeet Kumar & ** Vivek Jangid *Assistant Professor, Department of Business Administration, Chaudhary

More information

Analysis of Stock Price Behaviour around Bonus Issue:

Analysis of Stock Price Behaviour around Bonus Issue: BHAVAN S INTERNATIONAL JOURNAL of BUSINESS Vol:3, 1 (2009) 18-31 ISSN 0974-0082 Analysis of Stock Price Behaviour around Bonus Issue: A Test of Semi-Strong Efficiency of Indian Capital Market Charles Lasrado

More information

IMPACT OF ACQUISITIONS THROUGH VALUE ADDITION - A CASE STUDY OF TATA STEEL AND TATA POWER COMPANIES IN INDIA

IMPACT OF ACQUISITIONS THROUGH VALUE ADDITION - A CASE STUDY OF TATA STEEL AND TATA POWER COMPANIES IN INDIA Tactful Management Research Journal ISSN :2319-7943 Impact Factor : 2.1632 (UIF) Vol. 3 Issue. 4 Jan 2015 Available online at www.lsrj.in IMPACT OF ACQUISITIONS THROUGH VALUE ADDITION - A CASE STUDY OF

More information

Int.J.Curr.Res.Aca.Rev.2017; 5(3): 35-42

Int.J.Curr.Res.Aca.Rev.2017; 5(3): 35-42 International Journal of Current Research and Academic Review ISSN: 2347-3215 (Online) Volume 5 Number 3 (March-2017) Journal homepage: http://www.ijcrar.com doi: https://doi.org/10.20546/ijcrar.2017.503.006

More information

Weak Form Efficiency of Gold Prices in the Indian Market

Weak Form Efficiency of Gold Prices in the Indian Market Weak Form Efficiency of Gold Prices in the Indian Market Nikeeta Gupta Assistant Professor Public College Samana, Patiala Dr. Ravi Singla Assistant Professor University School of Applied Management, Punjabi

More information

Determinants of Capital Structure in Nigeria

Determinants of Capital Structure in Nigeria International Journal of Innovation and Applied Studies ISSN 2028-9324 Vol. 3 No. 4 Aug. 2013, pp. 999-1005 2013 Innovative Space of Scientific Research Journals http://www.issr-journals.org/ijias/ Determinants

More information

GIAN JYOTI E-JOURNAL, Volume 2, Issue 3 (Jul Sep 2012) ISSN X FOREIGN INSTITUTIONAL INVESTORS AND INDIAN STOCK MARKET

GIAN JYOTI E-JOURNAL, Volume 2, Issue 3 (Jul Sep 2012) ISSN X FOREIGN INSTITUTIONAL INVESTORS AND INDIAN STOCK MARKET FOREIGN INSTITUTIONAL INVESTORS AND INDIAN STOCK MARKET Dr Renuka Sharma 1 & Dr. Kiran Mehta 2 Abstract The investment made by FIIs in any capital market has grabbed the attention of researchers to identify

More information

DECISION FUNCTION FOR MUTUAL FUND INVESTMENTS FOR RETAIL AND INSTITUTIONAL INVESTORS IN INDIA

DECISION FUNCTION FOR MUTUAL FUND INVESTMENTS FOR RETAIL AND INSTITUTIONAL INVESTORS IN INDIA DECISION FUNCTION FOR MUTUAL FUND INVESTMENTS FOR RETAIL AND INSTITUTIONAL INVESTORS IN INDIA Sharma Preeti Professor & Head, School of Business Management, University of Engineering & Management, Jaipur,

More information

THE IMPACT OF MARKET RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA

THE IMPACT OF MARKET RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA International Journal of Economics, Commerce and Management United Kingdom Vol. IV, Issue 6, June 2016 http://ijecm.co.uk/ ISSN 2348 0386 THE IMPACT OF MARKET RISK IN CAPITAL ADEQUACY RATIO IN ALBANIA

More information

Impact of Unemployment and GDP on Inflation: Imperial study of Pakistan s Economy

Impact of Unemployment and GDP on Inflation: Imperial study of Pakistan s Economy International Journal of Current Research in Multidisciplinary (IJCRM) ISSN: 2456-0979 Vol. 2, No. 6, (July 17), pp. 01-10 Impact of Unemployment and GDP on Inflation: Imperial study of Pakistan s Economy

More information

A Study on Investors Attitude towards Mutual Funds as an Investment Option

A Study on Investors Attitude towards Mutual Funds as an Investment Option 011 Asian Economic and Social Society. All rights reserved ISSN(P): 309-895 ISSN(E): 5-46 A Study on Investors Attitude towards Mutual Funds as an Investment Option Binod Kumar Singh (School of Management

More information

Financial Performance of Public and Private Sector Banks: An Application of Post-Hoc Tukey HSD Test

Financial Performance of Public and Private Sector Banks: An Application of Post-Hoc Tukey HSD Test Financial Performance of Public and Private Sector s: An Application of Post-Hoc Tukey HSD Test K. V. N. Prasad Assistant Professor ITM Business School Warangal-516001, India Dr. A.A. Chari Professor Department

More information

An Empirical Study on the Capital Structure Decisions of Select Pharmaceutical Companies in India

An Empirical Study on the Capital Structure Decisions of Select Pharmaceutical Companies in India IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X, p-issn: 2319-7668. Volume 19, Issue 5. Ver. II (May. 2017), PP 26-30 www.iosrjournals.org An Empirical Study on the Capital Structure

More information

Asymmetry in Indian Stock Returns An Empirical Investigation*

Asymmetry in Indian Stock Returns An Empirical Investigation* Asymmetry in Indian Stock Returns An Empirical Investigation* Vijaya B Marisetty** and Vedpuriswar Alayur*** The basic assumption of normality has been tested using BSE 500 stocks existing during 1991-2001.

More information

Dematerialization of Shares & Retail Investors in India - A Study

Dematerialization of Shares & Retail Investors in India - A Study Volume-5, Issue-3, June-2015 International Journal of Engineering and Management Research Page Number: 393-400 Dematerialization of Shares & Retail Investors in India - A Study Dr. Surendar G Assistant

More information

Do Indian Mutual funds with high risk adjusted returns show more stability during an Economic downturn?

Do Indian Mutual funds with high risk adjusted returns show more stability during an Economic downturn? Do Indian Mutual funds with high risk adjusted returns show more stability during an Economic downturn? Kalpakam. G, Faculty Finance, KJ Somaiya Institute of management Studies & Research, Mumbai. India.

More information

A Study on Opinion of Working People towards Share Market Investment with Reference to Tiruchirapalli District

A Study on Opinion of Working People towards Share Market Investment with Reference to Tiruchirapalli District Int. Journal of Management and Development Studies 5(2): 50-59 (2016) ISSN (Online): 2320-0685. ISSN (Print): 2321-1423 Impact Factor: 0.715 A Study on Opinion of Working People towards Share Market Investment

More information

COMPARATIVE ANALYSIS OF BOMBAY STOCK EXCHANE WITH NATIONAL AND INTERNATIONAL STOCK EXCHANGES

COMPARATIVE ANALYSIS OF BOMBAY STOCK EXCHANE WITH NATIONAL AND INTERNATIONAL STOCK EXCHANGES Opinion - International Journal of Business Management (e-issn: 2277-4637 and p-issn: 2231 5470) Special Issue on Role of Statistics in Management and Allied Sciences Vol. 3 No. 2 Dec. 2013, pg. 79-88

More information

Capital Adequacy Ratio as Performance Indicator of Banking Sector in India-An Analytical Study of Selected Banks

Capital Adequacy Ratio as Performance Indicator of Banking Sector in India-An Analytical Study of Selected Banks Everant.org/AFMJ Research Article Account and Financial Management Journal ISSN: 2456-3374 Capital Adequacy Ratio as Performance Indicator of ing Sector in India-An Analytical Study of Selected s Rakesh

More information

A Study on Performance Evaluation of Selected Equity Mutual Funds in India

A Study on Performance Evaluation of Selected Equity Mutual Funds in India A Study on Performance Evaluation of Selected Equity Mutual Funds in India PRIYANKA G. BHATT (Research Scholar) School of Management, R. K. University, Rajkot Gujarat (India) PROF. (DR.) VIJAY H.VYAS Head

More information

Fundamental Analysis of Selected FMCG Companies in India

Fundamental Analysis of Selected FMCG Companies in India Fundamental Analysis of Selected FMCG Companies in India Shubham Bansal 1, Gagandeep Singh 2 1,2 Assistant Professor, Department of Commerce and Management Studies, Aryabhatta Group of Institutes, Barnala

More information

Financial Performance of Cement Companies- A Critical Appraisal

Financial Performance of Cement Companies- A Critical Appraisal Financial Performance of Cement Companies- A Critical Appraisal Anas Khan 1 Dr Basman Omar AL-Dalayeen 2 1. Research Scholar, Department of Commerce, Aligarh Muslim University, Aligarh-India 2. Al-Hussein

More information

IJMDRR E- ISSN Research Paper ISSN FUND MANAGER S PERFORMANCE IN EQUITY LINKED SAVINGS SCHEMES (ELSS ) OF INDIAN MUTUAL FUNDS

IJMDRR E- ISSN Research Paper ISSN FUND MANAGER S PERFORMANCE IN EQUITY LINKED SAVINGS SCHEMES (ELSS ) OF INDIAN MUTUAL FUNDS Research Paper FUND MANAGER S PERFORMANCE IN EQUITY LINKED SAVINGS SCHEMES (ELSS ) OF INDIAN MUTUAL FUNDS Krishna Kumar Kadambat* Dr Raghavendra T S ** Dr B M Singh*** *Research Scholar of ICFAI University,

More information

REFORMS IN INDIAN PRIMARY MARKET A VIEW

REFORMS IN INDIAN PRIMARY MARKET A VIEW REFORMS IN INDIAN PRIMARY MARKET A VIEW Dr.A.Sathish Kumar Professor Sree Chaitanya Institute of Management and Computer Science Karimnagar, A.P., India B.Anusha Assistant Professor Sree Chaitanya PG College

More information

WORKING CAPITAL MANAGEMENT IN SELECTED PUBLIC SECTOR COMPANIES: A COMPARATIVE STUDY IN WEST BENGAL Bijoy Gupta 1

WORKING CAPITAL MANAGEMENT IN SELECTED PUBLIC SECTOR COMPANIES: A COMPARATIVE STUDY IN WEST BENGAL Bijoy Gupta 1 WORKING CAPITAL MANAGEMENT IN SELECTED PUBLIC SECTOR COMPANIES: A COMPARATIVE STUDY IN WEST BENGAL Bijoy Gupta 1 Prof Kartick Chandra Paul 2 Abstract: Working capital is life blood of any business irrespective

More information

Dr. Vijay Gondaliya EFFECT OF FIIS AND FOREIGN EXCHANGE ON INDIAN STOCK MARKET

Dr. Vijay Gondaliya EFFECT OF FIIS AND FOREIGN EXCHANGE ON INDIAN STOCK MARKET ISSN: 2319-8915 GJRIM VOL. 6, NO. 2, DEC 2016 SRIM CA 70 EFFECT OF FIIS AND FOREIGN EXCHANGE ON INDIAN STOCK MARKET Dr. Vijay Gondaliya ABSTRACT India attracts a large sum of FIIs (Foreign Institutional

More information

Pre and Post Merger Analysis of Non Performance Assets (NPAs): A Study with Special Reference to ICICI Bank Ltd.

Pre and Post Merger Analysis of Non Performance Assets (NPAs): A Study with Special Reference to ICICI Bank Ltd. DOI : 10.18843/ijms/v5i1(2)/08 DOIURL :http://dx.doi.org/10.18843/ijms/v5i1(2)/08 Pre and Post Merger Analysis of Non Performance Assets (NPAs): A Study with Special Reference to ICICI Bank Ltd. Dr. Veena

More information

JOURNAL OF INTERNATIONAL ACADEMIC RESEARCH FOR MULTIDISCIPLINARY Impact Factor 2.417, ISSN: , Volume 4, Issue 4, May 2016

JOURNAL OF INTERNATIONAL ACADEMIC RESEARCH FOR MULTIDISCIPLINARY Impact Factor 2.417, ISSN: , Volume 4, Issue 4, May 2016 A STUDY ON EFFICIENT MARKET HYPOTHESIS IN SELECTED AUTOMOBILE STOCKS IN INDIA DR. RAKESH KUMAR* MISS. SHALINI SAGAR** *Assistant Professor, Accountancy & Law, Dayalbagh Educational Institute, Deemed University,

More information

A Study on Impact of WPI, IIP and M3 on the Performance of Selected Sectoral Indices of BSE

A Study on Impact of WPI, IIP and M3 on the Performance of Selected Sectoral Indices of BSE A Study on Impact of WPI, IIP and M3 on the Performance of Selected Sectoral Indices of BSE J. Gayathiri 1 and Dr. L. Ganesamoorthy 2 1 (Research Scholar, Department of Commerce, Annamalai University,

More information

IMPACT OF QUARTERLY FINANCIAL RESULTS ON MARKET PRICE OF SHARE: AN ANALYTICAL STUDY OF SELECTED INDIAN COMPANIES ABSTRACT

IMPACT OF QUARTERLY FINANCIAL RESULTS ON MARKET PRICE OF SHARE: AN ANALYTICAL STUDY OF SELECTED INDIAN COMPANIES ABSTRACT IMPACT OF QUARTERLY FINANCIAL RESULTS ON MARKET PRICE OF SHARE: AN ANALYTICAL STUDY OF SELECTED INDIAN COMPANIES I. Introduction: ABSTRACT There are various corporate actions or events such as Mergers

More information

The Influence of Underpricing to IPO Aftermarket Performance: Comparison between Fixed Price and Book Building System on the Indonesia Stock Exchange

The Influence of Underpricing to IPO Aftermarket Performance: Comparison between Fixed Price and Book Building System on the Indonesia Stock Exchange International Journal of Economics and Financial Issues ISSN: 2146-4138 available at http: www.econjournals.com International Journal of Economics and Financial Issues, 2017, 7(4), 157-161. The Influence

More information

ANALYSIS OFFINANCIAL STATEMENTS WITH SPECIAL REFERENCE TO BMTC, BANGALORE

ANALYSIS OFFINANCIAL STATEMENTS WITH SPECIAL REFERENCE TO BMTC, BANGALORE ANALYSIS OFFINANCIAL STATEMENTS WITH SPECIAL REFERENCE TO BMTC, Sridhara G* N. Sathyanarayana** BANGALORE Abstract: Transportation industry contributes a major role in the development of a company. Transportation

More information

International Journal of Marketing & Financial Management (IJMFM)

International Journal of Marketing & Financial Management (IJMFM) International Journal of Marketing & Financial Management (IJMFM) ISSN: 2348 3954 (Online) ISSN: 2349 2546 (Print) Available online at : http://www.arseam.com/content/volume- 2issue-6-july-2014 Email us:

More information

IMPACT OF FOREIGN CAPITAL INFLOWS ON INDIAN STOCK MARKET

IMPACT OF FOREIGN CAPITAL INFLOWS ON INDIAN STOCK MARKET A Publication of IMPACT OF FOREIGN CAPITAL INFLOWS ON INDIAN STOCK MARKET ABSTRACT Santosh Chauhan* *Geeta Institute of Management and Technology, Kanipla, kurukshetra, India. India has emerged as one

More information

Composition of Foreign Capital Inflows and Growth in India: An Empirical Analysis.

Composition of Foreign Capital Inflows and Growth in India: An Empirical Analysis. Composition of Foreign Capital Inflows and Growth in India: An Empirical Analysis. Author Details: Narender,Research Scholar, Faculty of Management Studies, University of Delhi. Abstract The role of foreign

More information

International Journal of Management (IJM), ISSN (Print), ISSN (Online), INTERNATIONAL JOURNAL OF MANAGEMENT (IJM)

International Journal of Management (IJM), ISSN (Print), ISSN (Online), INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume 6, Issue 1, January (2015), pp. 661-669 IAEME: http://www.iaeme.com/ijm.asp Journal Impact Factor (2014):

More information

NAMRATA N. KHATRI. Assistant Professor, Department of Business & Industrial Management, Veer Narmad South Gujarat University, Surat

NAMRATA N. KHATRI. Assistant Professor, Department of Business & Industrial Management, Veer Narmad South Gujarat University, Surat FACTORS INFLUENCING INVESTORS INVESTMENT IN INITIAL PUBLIC OFFERING NAMRATA N. KHATRI Assistant Professor, Department of Business & Industrial Management, Veer Narmad South Gujarat University, Surat Abstract

More information

A Study on Profitability of Selected Private Banks of India

A Study on Profitability of Selected Private Banks of India A Study on Profitability of Selected Private Banks of India ABSTRACT Dr. Bhavik U. Swadia P.hD,SET,M.com,LLB,B.Ed GLS University (FOC) The banking sector in India has a very big canvas of history. Private

More information

Performance of Select Money Market Mutual Funds in India

Performance of Select Money Market Mutual Funds in India ,Vol.6(4):1-9 (July-August, 2017) ISSN: 2319-8834 Performance of Select Money Market Mutual Funds in India Bhaskar Goswami 1 & Sharmistha Acharyya 2* 1 Assistant Professor, Department of Economics, The

More information

A Study of the Dividend Pattern of Nifty Companies

A Study of the Dividend Pattern of Nifty Companies International Journal of Research in Business Studies and Management Volume 2, Issue 6, June 2015, PP 1-7 ISSN 2394-5923 (Print) & ISSN 2394-5931 (Online) A Study of the Dividend Pattern of Nifty Companies

More information

A Comparative Study of Various Forecasting Techniques in Predicting. BSE S&P Sensex

A Comparative Study of Various Forecasting Techniques in Predicting. BSE S&P Sensex NavaJyoti, International Journal of Multi-Disciplinary Research Volume 1, Issue 1, August 2016 A Comparative Study of Various Forecasting Techniques in Predicting BSE S&P Sensex Dr. Jahnavi M 1 Assistant

More information

Underwriter s Discretion and Pricing of Initial Public Offerings

Underwriter s Discretion and Pricing of Initial Public Offerings International Journal of Business Management and Economics Research. ISSN 2349-2333 Volume 2, Number 2 (2015), pp. 107-122 International Research Publication House http://www.irphouse.com Underwriter s

More information

Evaluating Role of Foreign Institutional Investors and Mutual Funds in Changing Market Scenario

Evaluating Role of Foreign Institutional Investors and Mutual Funds in Changing Market Scenario Evaluating Role of Foreign Institutional Investors and Mutual Funds in Changing Market Scenario Arvind Luhar 1 and Kedar Bhide 2 1 HOD, Accountancy, Ismail Yusuf College, Mumbai Email: luhararvind@rediffmail.com

More information

Scholars Journal of Arts, Humanities and Social Sciences

Scholars Journal of Arts, Humanities and Social Sciences DOI: 10.21276/sjahss.2016.4.6.11 Scholars Journal of Arts, Humanities and Social Sciences Sch. J. Arts Humanit. Soc. Sci. 2016; 4(6B):686-699 Scholars Academic and Scientific Publishers (SAS Publishers)

More information

Perception of Investors towards Mutual Funds- A Study

Perception of Investors towards Mutual Funds- A Study Perception of Investors towards Mutual Funds- A Study Dr. B. Saritha Designation Associate Professor Address-Mahatma Gandhi University, Nalgonda Abstract: Mutual funds can be invested in many different

More information

International Journal of Advancements in Research & Technology, Volume 2, Issue 9, September ISSN

International Journal of Advancements in Research & Technology, Volume 2, Issue 9, September ISSN International Journal of Advancements in Research & Technology, Volume, Issue, September-0 ISSN - EVALUATINGMUTUAL FUND SCHEMES IN AN INDIAN MARKETTO ENCORAGE THE INVESTORS INTEREST Dr. N. K. Sathya Pal

More information

ANALYSIS AND IMPACT OF FINANCIAL PERFORMANCE OF COMMERCIAL BANKS AFTER MERGERS IN INDIA

ANALYSIS AND IMPACT OF FINANCIAL PERFORMANCE OF COMMERCIAL BANKS AFTER MERGERS IN INDIA ANALYSIS AND IMPACT OF FINANCIAL PERFORMANCE OF COMMERCIAL BANKS AFTER MERGERS IN INDIA DR. V. R. NEDUNCHEZHIAN*; MS. K. PREMALATHA** *PROFESSOR, KCT BS, KUMARAGURU COLLEGE OF TECH., COIMBATORE **RESEARCH

More information

AN APPLICATION OF CAPITAL ASSET PRICING MODEL (CAPM)

AN APPLICATION OF CAPITAL ASSET PRICING MODEL (CAPM) AN APPLICATION OF CAPITAL ASSET PRICING MODEL (CAPM) Dr. Puttanna K Asst. Professor Department of Business Administration, Mangalore University Abstract The CAPM model was developed to explain the differences

More information

IMPACT OF DIVIDEND ANNOUNCEMENT ON SHARE PRICE OF BALAJI TELEFILMS LTD.

IMPACT OF DIVIDEND ANNOUNCEMENT ON SHARE PRICE OF BALAJI TELEFILMS LTD. Volume 118 No. 15 2018, 111-116 ISSN: 1311-8080 (printed version); ISSN: 1314-3395 (on-line version) url: http://www.ijpam.eu ijpam.eu IMPACT OF DIVIDEND ANNOUNCEMENT ON SHARE PRICE OF BALAJI TELEFILMS

More information

ANALYSING THE SECTORAL PREDICTABILITY OF RISK AND RETURN IN INDIA

ANALYSING THE SECTORAL PREDICTABILITY OF RISK AND RETURN IN INDIA International Journal of Management (IJM) Volume 7, Issue 4, May June 2016, pp.189 194, Article ID: IJM_07_04_016 Available online at http://www.iaeme.com/ijm/issues.asp?jtype=ijm&vtype=7&itype=4 Journal

More information

What Influences Short Run Performance of Initial Public Offerings in Kenya?

What Influences Short Run Performance of Initial Public Offerings in Kenya? IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X, p-issn: 2319-7668. Volume 19, Issue 5. Ver. VI (May 2017), PP 24-28 www.iosrjournals.org What Influences Short Run Performance of Initial

More information

International Journal of Business and Administration Research Review, Vol. 3 Issue.10, April- June, Page 32

International Journal of Business and Administration Research Review, Vol. 3 Issue.10, April- June, Page 32 IMPACT OF FOREIGN MERGERS AND ACQUISITIONS ON THE FINANCIAL PERFORMANCE OF INDIAN FIRM S Dr. S. Poornima* S.Subhashini** *Associate Professor, PSGR Krishnammal College for Women, Coimbatore. **Asst.Professor,

More information

N.A. 2nd FY (March 31, 2020) * Page 1 of 5

N.A. 2nd FY (March 31, 2020) * Page 1 of 5 Name of the Issue: TCNS Clothing Co. Limited 1 Type of Issue Initial Public Offer 2 Issue Size (Rs. Mn) 11,251.25 *Source: Prospectus dated July 24, 2018 3 Grade of issue along with name of the rating

More information

PERFORMANCE EVALUATION OF OPEN ENDED SCHEMES OF MUTUAL FUNDS

PERFORMANCE EVALUATION OF OPEN ENDED SCHEMES OF MUTUAL FUNDS 428 PERFORMANCE EVALUATION OF OPEN ENDED SCHEMES OF MUTUAL FUNDS DR. VIKAS KUMAR* *Guest Faculty, Department of Commerce, Sri Harischandra Post Graduate College, Varanasi. INTRODUCTION Household savings

More information

ANALYSIS OF RISK ADJUSTED MEASURES OF SELECTED LARGE-CAP EQUITY MUTUAL FUNDS IN INDIA

ANALYSIS OF RISK ADJUSTED MEASURES OF SELECTED LARGE-CAP EQUITY MUTUAL FUNDS IN INDIA ANALYSIS OF RISK ADJUSTED MEASURES OF SELECTED LARGE-CAP EQUITY MUTUAL FUNDS IN INDIA S. Sivaprakkash, Ph.D. Research Scholar, PG & Research Department of Commerce, Loyola College, Chennai, India. Dr.

More information