Professional Documents
Culture Documents
CERTIFICATE
2
HEAD OF DEPARTMENT PROJECT GUIDE
ACKNOWLEDGEMENT
3
I want to express my sincere gratitude to all those who made this study
possible. First of all I am thankful to the helpful staff and the faculty of
Medicaps Institute of Technology & Management. One of the most
important tasks in every good study is its critical evaluation and
feedback which was provided to me by my guide Mrs. Prerna
Shrivastava.I am also thankful to Mr. Vardhan Choubey for
investing his precious time to discuss and criticize this study in depth
and explained the meaning of different concepts and how to think
when it comes to problem discussions and theoretical discussions.
(Gopal Agarwal)
4
CONTENT
Abstract
I
Introduction..............................................................................................
............. 6
II Rationale of
Study………………………………………………………………. 7
III
Objective..................................................................................................
............. 8
IV Research
Methodology ........................................................................................ 9
V Foreign Institutional
Investors………………………………………………….. 10
V.i FII registered in India
V.ii Why FII Invest in India
VI BSE Mid-Cap and BSE Small-Cap
Index………………………………………. 12
VII Foreign Institutional Investment: A Cost - Benefit
Analysis……………………. 13
VIII
Analysis………………………………………………………………
…………. 14
IX
5
Results…………………………………………………………………
………... 17
X
Conclusion……………………………………………………………
…………. 18
Appendix
Historical Datasheet
Midcap & Smallcap Indices Vs Sensex
FII Investment Vs Midcap & Smallcap Indices
Volatility Analysis
Scripwise Impact of FII Shareholding on Price Movement of
Midcap Companies
Scripwise Impact of FII Shareholding on Price Movement of
Smallcap Companies
References
ABSTRACT
6
Foreign Institutional Investors have gained a significant role in Indian
capital market. This project analyses the impact of foreign institutional
investment particularly among Midcap & Smallcap market of Bombay
Stock Exchange. Analyzing the relationship between foreign
institutional investment and movement of indices and movement of
prices of ten scrip each of Midcap and Smallcap Indices.
It is observed that there is a high degree of correlation between
Midcap & Smallcap Indices and Sensex and also FII gross purchases
show high degree of correlation with Midcap and Smallcap
Indices.FIIs are also responsible for volatility in the stock market.
7
INTRODUCTION
9
RATIONALE OF STUDY
10
OBJECTIVE
Find the relation of Midcap & Smallcap Indices with the Sensex.
Find the relationship between the Midcap & Smallcap Indices
variations with the variation of investments made by the Foreign
Institutional Investors.
Find the impact of activities of Foreign Institutional Investors on
the volatility of Midcap & Smallcap market.
To analyze the impact of FII shareholding on Price movement of
Midcap & Smallcap companies.
11
RESEARCH METHODOLOGY
Type of Research:
Data Collection:
Secondary sources have been used for the collection of the data
used in the research.
Sample Size:
Four year data was collected as:
Monthly data from BSE of Midcap & Smallcap Indices (2005-
2009)
Monthly data of FII flow in equity (2005-2009)
Quarterly FIIs shareholding data of ten companies each of
Midcap & Smallcap Indices (2005-2009)
Quarterly closing price data of ten companies each of Midcap &
Smallcap Indices (2005-2009)
13
FOREIGN INSTITUTIONAL INVESTOR
The SEBI is the nodal agency for dealing with FIIs, and they have
to obtain initial registration with SEBI. For granting registration to an
FII, the SEBI takes into account the track record of the FII, its
professional competence, financial soundness, experience and such
other criteria as may be considered relevant by SEBI. Besides, FIIs
seeking initial registration with SEBI will be required to hold a
registration from an appropriate foreign regulatory authority in the
country of domicile/incorporation of the FII.India had 528 FIIs
registered with SEBI by end of 2001 and by end of Mar-2009 the
number increased to1581. The trend in the number of registered
FIIs“Table-3” has been consistently on the rise showing the significant
amount of confidence that Indian Capital market has developed in the
last few years. Not only has been the number increasing on a
consistent basis, but the amount of inflow into Indian market has also
15
seen a manifold increase. The gross purchase, sales and net investment
“Table-4”
figure on monthly basis gives a fair idea about the consistency
of their investments in our country.
Rc = (X1-X0)/X0
...................................................... (3)
From equations (1), (2) and (3) it can be shown that
17
BSE MIDCAP AND BSE SMALLCAP INDEX
BSE introduced the new index series called 'BSE Midcap' index and
'BSE Smallcap' index on April 11, 2005 with base index value 1000 to
track the performance of companies with relatively smaller market
capitalization. The market capitalisation of the company represents the
total dollar value of the company's outstanding shares. This is equal to
the current market price of its stock multiplied by the number of shares
of stock that it has outstanding. That number gives you the market
value of the company, which is one measure of the company's size.
Roughly speaking, there are three basic categories of market
capitalisation: largecap, midcap and smallcap.The definitions for each
of these might vary somewhat depending on whom you are talking to,
but usually they are as follows:
Largecap: Market Cap valued at more than $ 10 billion
Midcap: Market cap valued between $ 2 billion and $ 10 billion
Smallcap: Market cap valued at less than $ 2 billion
In general, the larger the cap size, the more established the company
and the more stable the price of its stock. Smallcap and Midcap
companies usually have a higher potential for future growth than
largecap companies,but their stock tends to fluctuate more in
price.Midcap stocks are more risky than large cap stocks and less risky
than smallcap stocks. Then what makes a small & midcap attractive to
investors is the potential for growth that could result in a significant
return on the shares of stock. Because the company issuing the stock is
considered to be growing, there is great potential for the price per
share to increase over the short term. For investors who wish to realize
quick gains on their investments, these appear to be an ideal
investment. However, the enhanced potential for growth also carries an
increased level of volatility. As time goes on, the company could
encounter unforeseen factors that inhibit the increase in the value of
the stock. When this happens, the stock may become stagnant or even
begin to fall in value.
18
In Smallcap and Midcap indices the numbers of companies are
464 and 221 respectively.
BENEFITS
B) Knowledge Flows:
The activities of international institutional investors help strengthen
Indian finance. FIIs advocate modern ideas in market design, promote
innovation, development of sophisticated products such as financial
derivatives, enhance competition in financial intermediation and lead
19
to spillovers of human capital by exposing Indian participants to
modern financial techniques and international best practices and
systems.
COSTS
A) Create Volatility:
There are concerns that foreign investors may withdraw their money at
the hint of a trouble in India or firm. This will make others to also take
out their money creating volatility in the market.
B) Possibility of Takeovers:
While FIIs are normally seen as pure portfolio investors, without
interest in control, portfolio investors can occasionally behave like
20
FDI investors and seek control of companies that they have a
substantial shareholding in. Such outcomes, however, may not be
inconsistent with India's quest for greater FDI.
ANALYSIS
CORRELATION TEST:
25
26
RESULTS
Together with FIIs there are also other factors which influence the
movement of Indices and stock prices like company specific
factors, speculative trading, interest rate prevailing in the market,
political factors, government policies related to specific sectors
27
etc.
CONCLUSION
29
APPENDIX
30
HISTORICAL DATASHEET
31
FINANCIAL DURING THE TOTAL
YEAR YEAR REGISTERED
1992-93 0 0
1993-94 3 3
1994-95 153 156
1995-96 197 353
1996-97 99 439
1997-98 59 496
1998-99 59 450
1999-00 56 506
2000-01 84 528
2001-02 48 490
2001-03 51 502
2003-04 83 540
2004-05 145 685
2005-06 131 803
2006-07 247 993
2007-08 253 1219
2008-09 232 1581
Table-3
32
Midcap Smallca
FII INVESTMENT (Rs. Crore) Index p Index Sensex
Gross Gross Net
Purchas Sales Purchase/Sale close
Month e s close close
April- 15261.7 16308.8 -1047.1
2005 3049.65 3839.25 6154.44
May-2005 15522.6 16330.2 -807.6 3263.27 4300.84 6715.11
June-2005 27693.1 21931 5762.1 3310.35 4396.21 7193.85
July-2005 25589.3 17377.1 8212.2 3680.92 4919.51 7635.42
August- 26455.1 22042.5 4412.6
2005 4064.49 5925.14 7805.43
September 24160.7 20056.1 4122.6
-2005 4196.7 5697.69 8634.48
October- 25817.5 29623.1 -3805.6
2005 3771.56 4952.5 7892.32
November 23739.1 19290.5 4448.6
-2005 4175.19 5567.17 8788.81
December 31563.4 22098.2 9465.2
-2005 4427.03 5943.11 9397.93
January- 34762.8 31542.1 3220.7
2006 4716.53 6225.35 9919.89
February- 35603.1 28031.2 7571.9 10370.2
2006 4789.75 6144.48 4
March- 53578.7 47046.4 6532.3 11279.9
2006 5348.62 6591.66 6
April- 40415.6 39826.4 589.2 12042.5
2006 5843.29 7397.48 6
49338.2 57585.5 -8247.2 10398.6
May-2006 5052.44 6364.29 1
39845.6 38427.4 1418.2 10609.2
June-2006 4381.11 5357.04 5
24983.1 23535.2 1447.9 10743.8
July-2006 4303.28 5131.48 8
August- 28104.6 23330.6 4774 4798.07 5778.99 11699.0
33
2006 5
September 33014.2 26782.5 6231.7 12454.4
-2006 5148.38 6161.73 2
October- 27591.9 23013.3 4578.54
2006 4 5396.13 6392.59 12961.9
November 31146.9 24572.2 6574.74 13696.3
-2006 6 2 5721.6 6647.08 1
December 37419.5 40830.4 -3410.9 13786.9
-2006 5805.18 6892.32 1
January- 47506.7 47412.3 94.45 14090.9
2007 7 2 6045.1 7503.5 2
February- 51568.9 45503.9 6065 12938.0
2007 5508.74 6705.91 9
March- 50552.6 49149.3 1403.3
2007 5384.12 6470.51 13072.1
April- 44701.5 39269.7 5431.8 13872.3
2007 5795.72 6993.84 7
51574.9 47000.4 4574.5 14544.4
May-2007 6222.4 7413.03 6
54748.5 46808.9 7939.6 14650.5
June-2007 6527.03 7730.4 1
80216.2 62083.4 18132.8 15550.9
July-2007 6718.08 8070.63 9
August- 58223.2 65750 -7526.8
2007 6608.42 8060.52 15318.6
September 70694.6 51746.1 18948.5
-2007 7422.43 9099.93 17291.1
October- 124882. 109304. 15577.6 19837.9
2007 3 7 8135.21 9796.86 9
November 89510 94107.4 -4597.4 10526.0 19363.1
-2007 8553.56 2 9
December 80988.1 76091.4 4896.7 13348.3 20286.9
-2007 9789.49 7 9
January- 103129 120455. -17326.3 10124.4 17648.7
2008 3 7766.62 2 1
34
February- 76437.1 71017.2 5419.9 17578.7
2008 7680.39 9628.13 2
March- 70322.7 70198.3 124.4 15644.4
2008 6427.82 7841.62 4
April- 62969.6 61990.6 979 17287.3
2008 7138.74 8773.57 1
60640.3 65557.6 -4917.3 16415.5
May-2008 6760.54 8133.04 7
June-2008 61490.6 72068.3 -10577.7 5386.48 6701.96 13461.6
64526.3 65539.2 -1012.9 14355.7
July-2008 5567.37 6912.79 5
August- 46401.9 48467.7 -2065.8 14564.5
2008 5742.29 6891.64 3
September 68029.6 75966.6 -7937 12860.4
-2008 4798.29 5577.47 3
October- 49339.3 63587.9 -14248.6
2008 3200.02 3765.11 9788.06
November 28273.8 31094.1 -2820.3
-2008 2885.76 3304.61 9092.72
December 29197.6 27866.7 1330.9
-2008 3235.05 3683.11 9647.31
January- 29458.7 32573.6 -3114.9
2009 2941.47 3339.05 9424.24
February- 21863.2 24553.7 -2690.5
2009 2758.29 3106.01 8891.61
March- 32177.4 31908.4 269
2009 2956.23 3246.63 9708.5
Table-4
35
Percentage Closing
MIDCAP COMPANY Quarter Shareholding of FII Price
JSW Steel Jun , 05 9.34 251.2
Sep , 05 10.97 289.75
Dec , 05 15.33 229.3
Mar , 06 17.8 302.7
Jun , 06 19.34 275.15
Sep , 06 19.33 285.5
Dec , 06 18.76 386.9
Mar , 07 18.74 493.45
Jun , 07 23.41 611.45
Sep , 07 26.5 851.05
Dec , 07 29.03 1318.45
Mar , 08 26.36 819.1
Jun , 08 29.27 901.1
Sep , 08 28.23 480.2
Dec , 08 29.36 229.5
Mar , 09 29.03 231.85
UNITED PHOSPHORUS
LTD Jun , 05 26.1 807.05
Sep , 05 25.54 209.25
Dec , 05 28.23 240.05
Mar , 06 35.21 261.35
Jun , 06 35.35 236.55
Sep , 06 35.44 244.05
Dec , 06 35.13 300.35
Mar , 07 33.57 324.55
Jun , 07 34.98 311.1
Sep , 07 35.39 396.2
Dec , 07 44.49 348.8
Mar , 08 43.1 262.3
Jun , 08 41.63 280.15
Sep , 08 38.24 308.85
Dec , 08 35.27 107.6
36
Mar , 09 34.78 97.75
COLGATE
PALMOLIVE INDIA
LTD Jun , 05 4.83 243.95
Sep , 05 5.17 250.35
Dec , 05 7.2 269.35
Mar , 06 10.06 432.05
Jun , 06 9.94 388.95
Sep , 06 10.57 367.3
Dec , 06 11.39 388.5
Mar , 07 11.85 332.4
Jun , 07 11.83 369.6
Sep , 07 10.92 401.9
Dec , 07 8.15 407.45
Mar , 08 7.84 382.35
Jun , 08 7.9 355.55
Sep , 08 8.19 403.4
Dec , 08 9.12 408.1
Mar , 09 10.09 470.75
Table-5
40
Percentage
SMALLCAP Shareholding of Closing
COMPANY Quarter FII Price (Rs.)
South Indian Bank Jun ,
Ltd 05 1.32 55.65
Sep ,
05 4.19 73.65
Dec ,
05 4.19 64.7
Mar ,
06 18.48 61.65
Jun ,
06 20.33 54.45
Sep ,
06 27.28 69.55
Dec ,
06 35.04 85.1
Mar ,
07 41.84 99
Jun ,
07 43.21 127.1
Sep ,
07 44.07 163.25
Dec ,
07 46.86 222
Mar ,
08 45.84 139.2
Jun ,
08 42.74 100.85
Sep ,
08 40.94 103.75
Dec ,
08 39.71 56.75
Mar ,
09 35.9 51.3
41
Kesoram Industries Jun ,
Ltd 05 6.64 114.75
Sep ,
05 5.64 163.55
Dec ,
05 4.95 153.75
Mar ,
06 5.87 211.9
Jun ,
06 3.9 215.45
Sep ,
06 5.73 503.55
Dec ,
06 7.18 546.95
Mar ,
07 7.43 342.95
Jun ,
07 7.42 453.35
Sep ,
07 9.07 578.95
Dec ,
07 8.72 588
Mar ,
08 5.96 391.75
Jun ,
08 4.98 255.3
Sep ,
08 4.84 216.75
Dec ,
08 3.94 138.4
Mar ,
09 3.99 135.35
Jun ,
Gammon India Ltd 05 9.05 264.15
Sep , 11.67 406.3
42
05
Dec ,
05 13.51 414.3
Mar ,
06 17.9 541.5
Jun ,
06 24.93 349.7
Sep ,
06 28.58 364.6
Dec ,
06 29.79 419.5
Mar ,
07 30.81 301.05
Jun ,
07 32.8 410.75
Sep ,
07 34.34 465.6
Dec ,
07 31.21 595.05
Mar ,
08 28.26 388.55
Jun ,
08 25.98 216.35
Sep ,
08 24.77 138.15
Dec ,
08 23.74 78.6
Mar ,
09 25.06 58
Jun ,
Raymond Ltd 05 10.12 331.55
Sep ,
05 10.53 390.7
Dec , 9.72 403.95
05
43
Mar ,
06 7.58 517.7
Jun ,
06 6.9 401.65
Sep ,
06 5.2 451.1
Dec ,
06 5.07 400.05
Mar ,
07 4.63 341.55
Jun ,
07 2.54 308.2
Sep ,
07 2.53 324.1
Dec ,
07 2.43 441.2
Mar ,
08 4.52 297.65
Jun ,
08 4.38 223.85
Sep ,
08 4.44 134.7
Dec ,
08 3.63 107.15
Mar ,
09 4.46 76.45
Jun ,
NIIT LTD 05 18.23 222.35
Sep ,
05 22.35 296.25
Dec ,
05 22.35 288.75
Mar ,
06 29.88 296.4
Jun , 41.42 367.35
44
06
Sep ,
06 41.74 330.3
Dec ,
06 39.68 525.15
Mar ,
07 38.78 696.8
Jun ,
07 40.48 1003.15
Sep ,
07 93.97 160.75
Dec ,
07 43.71 156.8
Mar ,
08 43.69 98
Jun ,
08 42.86 107.15
Sep ,
08 42.66 51.45
Dec ,
08 34.8 26.55
Mar ,
09 28.02 20.25
United Breweries Jun ,
Holdings Ltd 05 24.45 446.95
Sep ,
05 24.07 437.4
Dec ,
05 15.33 524.85
Mar ,
06 15.63 726.9
Jun ,
06 18.63 444.95
Sep , 20.61 265.45
06
45
Dec ,
06 23.35 345.05
Mar ,
07 24.92 359.5
Jun ,
07 25.01 609.2
Sep ,
07 24.7 946.6
Dec ,
07 29.9 1243.95
Mar ,
08 28.88 717.75
Jun ,
08 28.61 318.15
Sep ,
08 27.76 227.25
Dec ,
08 27.56 108.65
Mar ,
09 24.9 75.5
Bombay Dyeing &
Manufacturing Jun ,
Company Ltd 05 11.49 336.2
Sep ,
05 14.45 383.15
Dec ,
05 14.88 372.95
Mar ,
06 14.23 595
Jun ,
06 14.49 580.75
Sep ,
06 13.91 754.95
Dec , 13.28 766.35
06
46
Mar ,
07 14.51 540.85
Jun ,
07 13.89 573.6
Sep ,
07 13.56 675.1
Dec ,
07 9.68 755.35
Mar ,
08 6.68 614.3
Jun ,
08 6.09 581.8
Sep ,
08 5.12 371.55
Dec ,
08 3.52 193.15
Mar ,
09 1.5 167.95
Mahindra Lifespace Jun ,
Developers Ltd 05 22.29 140.1
Sep ,
05 24.9 274.3
Dec ,
05 26.49 395.9
Mar ,
06 26.73 462.2
Jun ,
06 12.96 603.9
Sep ,
06 13.23 807.9
Dec ,
06 30.69 876.3
Mar ,
07 26.99 568.3
Jun , 26.35 555.4
47
07
Sep ,
07 22.78 618.6
Dec ,
07 22.93 843.45
Mar ,
08 21.28 413.2
Jun ,
08 21.74 426.25
Sep ,
08 23.18 342.35
Dec ,
08 26.74 178.15
Mar ,
09 25.65 132.15
TVS Motor Jun ,
Company Ltd 05 12.59 72.05
Sep ,
05 12.42 92.75
Dec ,
05 11.01 100.05
Mar ,
06 8.93 140.05
Jun ,
06 7.65 97.8
Sep ,
06 6.76 124.45
Dec ,
06 4.1 87.3
Mar ,
07 5.34 59.6
Jun ,
07 4.44 60.9
Sep , 4.41 70.05
07
48
Dec ,
07 4.28 72.45
Mar ,
08 6 34.95
Jun ,
08 3.68 26.45
Sep ,
08 4.95 32.65
Dec ,
08 3.43 22.5
Mar ,
09 2.17 22.65
Rain Commodities Jun ,
Ltd 05 0 39.95
Sep ,
05 0 47.95
Dec ,
05 0 59.75
Mar ,
06 0 87.05
Jun ,
06 1.44 74.4
Sep ,
06 1.38 173.05
Dec ,
06 4 170.2
Mar ,
07 4.73 119.65
Jun ,
07 5.86 147.55
Sep ,
07 6.12 175.55
Dec ,
07 6.43 293.85
Mar , 6.5 195.1
49
08
Jun ,
08 7.56 177.65
Sep ,
08 8.02 185.75
Dec ,
08 7.61 90.25
Mar ,
09 7.58 81
Table-6
50
MIDCAP & SMALLCAP INDICES VS SENSEX
51
Ap Smallcap Index Midcap Index
r Ap
M il-2
0
r
2000
4000
6000
8000
10000
12000
14000
16000
Ju ay-200 5 M il-2
0
2000
4000
6000
8000
10000
12000
ne 00
- 5 Ju ay- 005
n 20
Se Au July2005 J e-2 05
pte gu -20
m st- 05 Se Au uly- 005
g
pt u 20
e s 0
No Octboer-2 2005 O mb t-2 5
De v em ber-005 No cto er- 00 5
ce be 200 b 2
De vem er- 00 5
Jambe r-20 5 ce be 20
Fe nua r-2 00 5 Ja mb r-2 05
br ry- 05 Fe nu aer-2 005
u 2 br ry 0 0
Maary - 006 u - 5
r 20 M ary 200
ar -2 6
Apch-206
r 0 Ap ch - 006
M il-2006 r 20
Ju ay-2 0 6 M il-2 06
ne 00 Ju ay-2006
- 6 n 0
Se Au July2006 J e-2 06
pte gu -20 Se Au uly - 006
m st- 06 pt gu 2 0
e s 0
No Octboer- 20 06 O mb t-2 6
2 No cto er- 006
De v em ber-006 v b 2
ce be 20 De em er- 00 6
Jambe r-200 06 ce be 20
Fe nua r-2 0 6 Ja mb e r-2 06
br ry 06 Fe nu a r-2 006
u - br ry 00
Maary - 2007 u - 6
rc 20 M ary 200
ar -2 7
Ap h-207
r 0 Ap ch - 00 7
r 20
M il-2 07 M il-2 07
Ju ay-2007 Ju a y- 007
ne 00 n 20
- 7
Midcap Index
M o n th
J e-2 07
Month
Se Au July2007 Se Au uly- 007
pte gu -20
m t- 07s pt gu 2 0
e s 0
No Octboer- 2 20 07 O mb t -2 7
52
No cto er- 007
De vem ber-007 v b 2
M ID CAP Vs SEN SEX
De em er- 00 7
S ensex
ce be 20 0 ce be 20
m
S m a llc a p In d e x S e n s e x
Jambe r-20 7 Ja b r-2 07
Fe nua r-200 7 Fe nu aer- 2 007
Graph-2
Graph-1
br ry- 07 br ry 00
u 2 u - 7
Maary - 008 M ary 20 0
r 20 a r -2 8
Apch-208 Ap ch - 00 8
r 0 r 20
Mail-2008 M il-2 08
Ju y-2 08 Ju ay- 008
ne 00 n 20
- 8 J e-2 08
Se Au July2008 Se Au uly- 008
pte gu -20 pt gu 20
m st- 08 e s 0
O mb t -2 8
No Octboer- 20 08 No cto er- 00 8
2 v 2
De vem ber-008 De ember- 008
ce be 20 ce be 20
m r-
Ja be 20 08 m r
Ja b -2 08
Fe nua r-200 8 Fe nu aer- 2 00 8
br ry 08 br ry 0 0
u - u - 8
Maary- 2009 M ary 20 0
ar -2 9
rch200 ch 00
-209 -20 9
09 09
0
0
5000
5000
10000
15000
20000
25000
10000
15000
20000
25000
Sensex Sensex
FII INVESTMENT VS MIDCAP & SMALLCAP INDICES
53
Gross Purchase Gross Purchase
Ap Ap
M ril-2 M ril-2
a
0
0
20000
40000
60000
80000
100000
120000
140000
20000
40000
60000
80000
100000
120000
140000
Ju y-2005 Juay-2005
ne 00 n 0
Se Au Jul -20 5 Se Au Jule- 200 5
pt gu y-2 05 pt gu y-2 05
e s 0 e s 0
O m t-2 05 O m t- 0
No ctober 00 No ctober 200 5
-
De vember 20 05 De vember-20 5
ce b -20 5
e
ce b -2 05
Ja mb r-2 05 Jamb e r-2005
Fe nu e r-2 005 Fe nu e r- 00
br a ry 00 br a ry 2 0 5
u u
M ar y -20 5 M ary - 2005
ar -2 06 ar -2 06
c c
Ap h-2 006 Ap h-2006
0
M ril-2 06 M ril-2006
a
Ju y-2006 Juay-2006
ne 00 ne 0
Se Au Jul -20 6 Se Au Jul -200 6
pt gu y-2 06 pt gu y-2 06
e s 0 e s
O m t-2 06 O m t- 00
No ctober 00 No ctober 200 6
v - 6 v
De ember-20 6
De ember 20 0
ce be -20 6 ce b -2 06
m
Ja b r-2 06 J m e r- 006
Fe nu e r- 006 Feanube r- 2 00
br a ry 2 0 br a ry 2 0 6
u - 0 u
M ar y 2006 M ary -2006
ar -2 7 ar -2 07
c c
Ap h-2 007 Ap h-2007
0
M ril-2 07 M ril-2007
a
Gross Purchase
Gross Purchase
Ju y-2007 Juay-2007
ne 00 n 0
Month
Se Au Jul - 20 7 Month Se Au Jule-200 7
pt gu y-2 07
pt gu y-2 07
e s 0 e s
O m t-2 07 O m t- 00
54
No ctober 00 No c tober 200 7
- De vember-20 7
De vember 20 07
ce b -20 7
e
ce b - 2 07
Ja mb r-2 07 J m e r- 007
Graph-4
Graph-3
Fe nu e r-2 007 Feanube r- 2 00
br a ry 00 br a ry 2 0 7
u u
M ar y -2007 M ar y -2007
0
0
2000
4000
6000
8000
2000
4000
6000
8000
10000
12000
14000
16000
10000
12000
55
Gross Purchases & Sales
A
pr
il-
100000
120000
140000
20000
40000
60000
80000
0
M 2 00
ay 5
Ju -20
ne 0 5
-
Ju 200
A ly- 5
S u 2
ep gus 00
te t-2 5
m 0
O ber 0 5
ct -2
N o b 00
ov e 5
e r-
D mb 200
ec e 5
em r-2
0
Ja ber 05
nu -2
Fe a r 005
br y- 2
ua 00
r
M y-2 6
ar 0
ch 06
-
A 20
pr 06
il -
M 2 00
ay 6
Ju -20
ne 0 6
-
Ju 200
A ly- 6
u
Se gu 2 0
pt st 06
em -2
0
O ber 0 6
ct -2
N o b 00
o v er
e - 6
D mb 200
ec e 6
em r-2
b 0
Ja e r 06
Gross
n -2
Fe ua r 006
Purchase
br y- 2
ua 0
r 0
M y-2 7
ar 00
ch 7
-
A 20
pr 07
i l-
M 2 00
ay 7
Month
Sales
Gross
Ju -20
ne 0 7
-
Ju 200
A ly- 7
S ugu 2 0
0
Graph-5
VOLATILITY ANALYSIS
ep
te s t-2 7
m 00
O er 7 b
c -
N to b 20 0
ov e 7
em r- 2
D 0
e c be 07
em r-2
0
Midcap Index
Ja be r 07
nu -2 0
Fe a r 07
br y- 2
ua 0
r 0
M y-2 8
ar 00
ch 8
-
A 20
pr 08
i l-
M 200
ay 8
-
Ju 20
ne 0 8
-
Smallcap Index
Ju 200
A ly- 8
S ugu 2 0
ep 0
te st-2 8
m
O er 8 b 00
c -
N to b 200
ov e
r- 8
e
D mb 200
ec e 8
em r-2
0
Ja ber 08
nu -2
Fe a r 08 0
br y-2
ua 0
r 0
M y-2 9
ar 00
ch 9
-2
00
9
0
2000
4000
6000
8000
10000
12000
14000
16000
0
5
10
15
20
25
30
35
40
45
50
10
15
20
25
30
35
0
5
Se , 05 S ,0
p ep 5
De , 05 D ,0
c ec 5
M , 05 M , 05
ar ar
Ju , 0 6 Ju , 0 6
n n
Se , 06 S ,0
ep 6
p
De , 06 D ,0
ec 6
c
M , 06 M , 06
ar ar
,
Ju , 0 7 Ju 0 7
n n
Se , 07 S ,0
% shareholding
ep 7
p
% shareholding
De , 07 D ,0
ec 7
c
Quarter Period
M , 07
Quarter Period
M , 07
JSW STEEL LTD.
ar ar
Graph-7
Graph-6
, Ju , 0 8
Ju 0 8
n n
S ,0
Se , 08 ep 8
p
D ,0
closing price
ec 8
closing price
c M , 08
M , 08 ar
ar ,0
,0 9
9
0
0
200
400
600
800
1000
1200
1400
100
200
300
400
500
600
700
800
900
Closing Price Closing Price
Percentage Shareholding Percentage Shareholding
Ju
n Ju
0
5
10
15
20
25
30
35
40
45
n
10
12
14
0
2
4
6
8
Se , 05 ,
p Se 05
p
De , 05 ,
c De 05
M , 05 c
ar M , 05
ar
Ju , 0 6 ,
n Ju 06
n
Se , 06 ,
p Se 06
De , 06 p
c De , 0 6
c
M , 06 ,
ar M 06
ar
Ju , 0 7 ,
n Ju 07
Se , 07 n,
p Se 07
% shareholding
De , 07 p
% shareholding
c De , 07
Quarter Period
M , 07 c,
Quarter Period
ar M 07
Graph-8
ar
Ju , 0 8
n ,
Ju 08
n
Se , 08 ,
c
COLGATE PALMOLIVE INDIA LTD.
De 08
closing price
M , 08 c
ar M , 08
,0 ar
9 ,0
9
0
0
50
50
100
150
200
250
300
350
400
100
150
200
250
300
350
400
450
500
10
15
20
25
30
35
40
45
50
0
5
0
2
4
6
8
10
12
14
16
Se , 05 Se , 05
p p
De , 05 De , 05
c c
M , 05 M , 05
ar ar
, Ju , 0 6
Ju 0 6
n n
Se , 06 Se , 06
p p
De , 06 De , 06
c c
M , 06 M , 06
ar ar
, ,
Ju 0 7 Ju 0 7
n n
Se , 07 Se , 07
p p
% shareholding
% shareholding
De , 07 De , 07
c c
Quarter Period
Quarter Period
LUPIN LTD.
Graph-9
M , 07 M , 07
Graph-10
ar ar
,
Ju 0 8 Ju , 0 8
n n
Se , 08 Se , 08
p p
De , 08
closing price
De , 08
closing price
c
JAIN IRRIGATION SYSTEMS LTD.
c
M , 08 M , 08
ar ar
,0 ,0
9 9
0
0
200
400
600
800
100
200
300
400
500
600
700
1000
1200
Closing Price Closing Price
Graph-11
Percentage Percentage Shareholding
Shareholding Ju
Ju n
0
5
10
15
20
25
30
n
0
5
10
15
20
25
30
35
Se , 05
Se , 05 p
p De , 05
De , 0 c
c 5 M , 05
M , 05 ar
ar
Ju , 0 6
Ju , 0 6
n
n
Se , 06
Se , 0
p 6 p
De , 06 De , 06
c c
M , 06 M , 06
ar ar
Ju , 0 7
Ju , 0 7
n n
Se , 07 Se , 07
p p
% shareholding
% shareholding
De , 0 De , 07
c 7 c
M , 07
Quarter Period
M , 07
Graph-13
Graph-12
VOLTAS LTD.
ar ar
Ju , 0 8 Ju , 0 8
n n
Se , 0 Se , 08
p 8 p
De , 0 De , 08
c 8
closing price
c
Quarter Periodclosing price
M , 08 M , 08
INDIAN HOTELS COM PANY LTD.
ar ar
,0 ,0
9 9
0
0
200
400
600
800
200
400
600
800
1000
1200
1000
1200
1400
1600
0
5
10
15
20
25
0
5
10
15
20
25
30
35
Se , 05 Se , 05
p p
De , 05 De , 05
c c
M , 05 M , 05
ar ar
Ju , 0 6 Ju , 0 6
n n
Se , 06 Se , 06
p p
De , 06 De , 06
c c
M , 06 M , 06
ar ar
Ju , 0 7 Ju , 0 7
n n
Se , 07 Se , 07
p p
% shareholding
% shareholding
De , 07 De , 07
c c
M , 07 M , 07
Quarter Period
Graph-15
Graph-14
Quarter Period
ar ar
M PHASIS LTD.
Ju , 0 8
TATA TEA LTD .
Ju , 0 8 n
n
Se , 08 Se , 08
p p
De , 08 De , 08
c c
closing price
closing price
M , 08 M , 08
ar ar
,0 ,0
9 9
0
0
50
100
200
300
400
500
600
700
800
900
100
150
200
250
300
350
1000
0
1
2
3
4
5
6
7
8
9
10
Ju
n
0
5
10
15
20
25
30
35
40
45
50
Se , 05
p Se , 05
De , 05 p
c De , 05
M , 05 c
ar M , 05
ar
Ju , 0 6
n Ju , 0 6
Se , 06 n
p Se , 06
De , 06 p
c De , 06
c
M , 06 M , 06
ar
, ar
Ju 0 7 Ju , 0 7
n n
Se , 07 Se , 07
p p
% shareholding
% shareholding
De , 07 De , 07
c c
Quarter Period
M , 07
Graph-17
Graph-16
ar M , 07
ar
Ju , 0 8 ,
Ju 0 8
n n
Se , 08 Se , 08
p p
SOUTH INDIAN BANK LTD.
De , 08 De , 08
c
Quarter Period closing price
closing price
KESORAM IN DUSTR IES LTD .
M , 08 M , 08
ar ar
,0 ,0
9 9
0
0
50
100
150
200
250
100
200
300
400
500
600
700
0
5
10
15
20
25
30
35
40
Se , 05
p
De , 05
c
M , 05
ar
Ju , 0 6
n
Se , 06
p
De , 06
c
M , 06
ar
Ju , 0 7
n
Se , 07
p
De , 07
% s hareholding
c
Graph-18
Ma , 07
r
Q uarter P eriod
Ju , 0 8
n
Se , 08
p
G AM M O N IN D IA LTD .
De , 08
c
c los ing pric e
M , 08
ar
,0
9
0
100
200
300
400
500
600
700
Closing Price
Percentage Shareholding Ju Percentage Shareholding
Ju n
n
0
2
4
6
8
10
12
0
10
20
30
40
50
60
70
80
90
100
Se , 05 Se , 05
p p
De , 05 De , 05
c c
M , 05 M , 05
ar ar
Ju , 0 6 Ju , 0 6
n n
Se , 06 Se , 06
p p
De , 06 De , 06
c c
M , 06 M , 06
ar ar
Ju , 0 7 Ju , 0 7
n n
Se , 07 Se , 07
p p
% shareholding
De , 07
% s hareholding
De , 07
c c
N IIT LTD .
M , 07 M , 07
Quarter Period
Graph-20
Graph-19
Quarter Period
ar ar
Ju , 0 8 Ju , 0 8
n n
R AYM ON D LTD .
Se , 08 Se , 08
p p
De , 08 De , 08
c c
M , 08 M , 08
ar ar
,0 ,0
9 9
0
0
100
200
300
400
500
600
200
400
600
800
1000
1200
0
5
10
15
20
25
30
35
n
0
2
4
6
8
10
12
14
16
Se , 05
Se , 05
p p
De , 05
De , 05
c c
M , 05 M , 05
ar ar
Ju , 0 6
Ju , 0 6
n n
Se , 06
Se , 06
p p
De , 06
De , 06
c c
M , 06 M , 06
ar ar
Ju , 0 7
Ju , 0 7
n
n
Se , 07
Se , 07
p
p
% shareholding
% shareholding
De , 07
De , 07
c
c
M , 07
Graph-22
Graph-21
Quarter Period
Quarter Period
M , 07 ar
ar
closing price
closing price
c M , 08
M , 08 ar
ar ,0
,0
9 9
0
200
400
600
800
100
200
300
400
500
600
700
800
900
1000
1200
1400
0
5
10
15
20
25
30
35
Se , 05
p
De , 05
c
M , 05
ar
Ju , 0 6
n
Se , 06
p
De , 06
c
M , 06
ar
Ju , 0 7
n
Se , 07
p
% s hareholding
De , 07
c
M , 07
Graph-23
Quarter Period
ar
Ju , 0 8
n
Se , 08
p
De , 08
c
closing pric e
M , 08
ar
,0
9
0
M AHIN D R A LIFESPACE D EVELOPER S LTD .
100
200
300
400
500
600
700
800
900
1000
Closing Price
Percentage Shareholding Percentage Shareholding
Ju Ju
n
0
2
4
6
8
n
10
12
14
0
1
2
3
4
5
6
7
8
9
Se , 05
Se , 05
p p
De , 05 De , 05
c c
M , 05 M , 05
ar ar
Ju , 0 6 Ju , 0 6
n n
Se , 06 Se , 06
p p
De , 06 De , 06
c c
M , 06 M , 06
ar ar
Ju , 0 7 Ju , 0 7
n n
Se , 07 Se , 07
p p
% shareholding
% s hareholding
De , 07 De , 07
c c
Graph-25
Graph-24
M , 07 M , 07
Quarter Period
Quarter Period
ar ar
Ju , 0 8 Ju , 0 8
n n
Se , 08 Se , 08
p p
closing price
c los ing pric e
TVS M OTOR COM PAN Y LTD .
M , 08 M , 08
ar ar
,0 ,0
9 9
0
0
50
20
40
60
80
100
150
200
250
300
350
100
120
140
160
Research Papers:
Books:
Websites:
http://en.wikipedia.org/wiki/Foreign_Institutional_Investor
http://money.rediff.com/indices/bse/bsesmallcap
www.bseindia.com
www.sebi.gov.in
www.moneycontrol.com
www.myiris.com
www.coolavenues.com