A Study on the Equity valuation Dissertation submitted In Partial fulfillment for the Post Graduate Diploma in Business Management

By Sandip Jain Roll No.: GJUJUL08AA255 Batch 2008-2010 Under the Guidance of Reporting Boss- Mr. Sachin Gupta. Designation- Equity Manager. Company Name-GULF BULLS SECURITIES PVT LTD

NSB SCHOOL OF BUSINESS B-II/1, MCIE, Delhi-Mathura Road, New Delhi

GULF BULLS SECURITIES PVT LTD

A PROJECT REPORT ON EQUITY VALUATION

Submitted to:

Submitted by:
2

Mr.Alok Satsangi
GJUJUL08AA255

Sandip Jain Regd no.Batch 2008-2010

STUDENTS DECLARATION
I hereby declare that the project report conducted At

Gulf Bulls Securities Pvt. Ltd.

Under the guidance of

Mr. Sachin Gupta (Equity Manager)

Submitted in partial fulfillment of the requirements for the Degree of MASTER OF BUSINESS ADMINISTRATION TO NSB SCHOOL OF BUSINESS,NEW DELHI Is the original work and the same has not been submitted for the award of any other degree/diploma/fellowship or other similar titles or prizes.

Place: NewDelhi Date: PREFACE

Sandip Jain

To maintain and cope up with the growing competition from the various online trading providers, Gulf Bulls Securities needs to find potential clients and also new investors and satisfy their needs. The Broad objective of the project is to enable the trainees with tools to apply while trading and face the circumstances which can arise while providing service to the clients. This project will accomplish to understand different ways to act while trading and use of tools according to the situation. It will help to know various factors which should be taken care of while trading. It helps to understand how each and every news effects the movements of the share price. It also helps in understanding the trend of the particular sector in different market conditions. All these steps help me to understand how to study a chart and how to cope with different types of people and their diversified need satisfaction level.

ACKNOWLEDGEMENT
IT WAS A GREAT EXPERIENCE UNDERGOING MY TWO MONTHS TRAINING AT GULF BULLS SECURITIES. I GOT AN OPPORTUNITY TO LEARN AND EXPERIENCE ETHICS. I WISH TO EXPRESS MY DEEP SENSE OF GRATITUDE TO MR. SACHIN GUPTA ( EQUITY MANAGER )IN GULF BULLS SECURITIES WHO IN HIS BENEVOLENT GUIDANCE HAS ENABLED ME TO ACCOMPLISH MY PROJECT .HE HAS BEEN A GREAT SOURCE OF INSPIRATION ALL THE WAY. WITHOUT HIS KEEN INTEREST, INCESSANT, ENCOURAGEMENT AND INVALUABLE SUGGESTIONS THIS REPORT COULDNT HAVE ATTAINED ITS PRESENT SHAPE WITH ZEAL AND ENTHUSIASM.I WOULD LIKE TO EXTEND MY THANKS TO ALL THE MEMBERS OF THE STAFF WHO HAS BEEN VERY HELPFUL THROUGHOUT MY TRAINING IN SUPPLYING WITH ALL THE NECESSARY INFORMATION.AT THIS POINT, I ALSO TAKE THE OPPORTUNITY TO THANKS MR. VIVEK RANA (CHAIRMAN)FOR PROVIDING SUPPORT AND VALUABLE FEEDBACK TO HELP ME CONDUCT THE PROJECT, OWING TO THE FACT THAT I WAS NEW TO THE ORGANIZATION. FINALLY I WOULD LIKE TO EXPRESS MY THANKS TO GULF BULLS SECURITIES FOR ACCEPTING ME AS A SUMMER TRAINEE IN SUCH ESTEEMED ORGANIZATION.

I ASSURE THAT ALL THE INFORMATION PROVIDED BY ME IS ORIGINAL AND AUTHENTICATED.

Sandip Jain (summer trainee)

CONTENT
Sl. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. Topic Preface Acknowledgement Executive Summary Indian Economy Chapter 1. Introduction Chapter 2. Research Methodology Chapter 3. Companys Profile Chapter 4. Conclusion Chapter 5. Bibliography Page No. 4 5 7 8 12 18 36 95 98

EXECUTIVE SUMMARY

The project reflects information about products and services provided by Gulf Bulls Securities to their customers. This project is made to know the forthcoming price of shares according to their nature. It will help to study charts and analyze the coming situation. The project provides various information about the share market and things taken under consideration while assumption of resistance and support level. Effect of news related to the share shows the change in its price. News are very much necessary to track the changes in the price.

The company provided lots of information on the share market. The environment was very friendly. Informations were provided by the experts only. It helped us to be update and taught us the ways to track share market. Indian economy is good enough compare to other countries, the G.D.P rate is 6.7%.

THE ROLLERCOASTER RIDE OF INDIAS ECONOMY

7

The countrys gross domestic product (GDP) grew by 6.7% in 2008-09, lower than the governments earlier 7.1% estimate but high enough to ensure that India remains among the fastest growing economies in the world. Only china grew faster in 2008 at 9%. Exports have contracted for six successive months as orders dried out because of credit crisis in the US and Europe.

GDP 10 9 8 7 6 5 4 3 2 1 0 9.2 9 7.8 5.8 9.3

8.6

7.7 5.8 GDP

q1

q2

q3

q4

Q1

Q2

Q3

Q4

2007-08
8

Quarters Q1 Q2 Q3

Rate 9.2% 9% 9.3%

Reason India was the attraction of global investors after a record 9.8% growth in 2006-07 Lower farm growth pulls down GDP a bit But economy continues to roar The rupee rose to 39.22 against the dollar, reaching its stongest position in several

Q4

8.6%

years Sensex scales at all time high of 21000 on a surge in foreign capital inflows. Government announces a Rs.66000 cr. Farm loan waiver scheme.

2008-09
Quarters Q1 Q2 Q3 Q4 Rate 7.8% 7.7% 5.8% 5.8% Reason Economy stays robust even as the trouble In the US grows into a global crisis Lehmann Bros., big banks collapse Exports slide, foreign investors quit, Manufacturing shrinks Economy does better than expected, sees some signs of recovery. Note: Q1- April June Q2- July September Q3- October December Q4- January March

Challenges
The manufacturing sector, which accounts for over 14% of GDP, dipped by 1.4% in the quarter ending march 31. For all of 2008-09,it grew by the modest 2.4% compared to last years 8.2%. Its a tricky time for the govt. as recently, measures have pushed up the govt.s fiscal deficit, reducing its ability to spend on social and development schemes or announce more tax cuts to spur demand. The RBI is also running out of monetary options as it cant announce more interest rate cuts.

Governments plans
NAME MURLI DEORA SUSHIL KUMAR SHINDE POSITION Petroleum & natural gas minister Power minister PLANS Providing uninterrupted supplies of petroleum products at all time Power capacity addition will remain the focus. There will be speed up in the implementation of existing ultra ANAND SHARMA KAMAL NATH Commerce & industry minister Highways and surface transport minister mega power projects. There is the possibility for more incentives for exporters. Highway projects will start to execute

10

11

Chapter 1 Introduction

Companys Details
Gulf bulls Securities Pvt. Ltd. is a Company registered under the Companies Act, 1956 .Gulf bulls is a professionally managed group headed by the directors, having vast experience in the stock market. Besides the core promoters, the group is having its full fledged teams headed by young and dynamic professionals like chartered accountants, company secretaries, MBAs, IT professionals etc. to handle the various divisions of the company.

12

By the end of the year 2009, company is about to open 20 new branches all over India. And very soon it will be an MNC. It is serving a diverse customer base of institutional and retail investors The Company has a balanced mix of revenues from emerging markets and is well positioned to leverage the growth potential offered by these markets. GBS provides investors a robust platform to trade in Equities in NSE and BSE. It is fully equipped with all modern infrastructures to carry on its activities. The offices are well connected through the VPN, Lease line, ISDN, Internet and other network facilities. All of its operations are computerized through the advanced technologies. All offices are ultra modern, hi-tech, well furnished and fully computerized, driven by the well-qualified professionals.

It has worldwide vision and along with its associates is currently providing state of the art stock broking services through all the major stock exchanges, trading through NSE & BSE, depository services through CDSL and all the services are available under the one roof. With its ability to evolve with the changing environment the Company has been able to put itself to the forefront of stock broking activities. With its network spreading across various parts of India, it has made a distinct mark among the stock broking houses and high net worth corporate as well as individuals. The research team tracks the economy, industries and companies to provide the latest information and analysis. It offers financial information, analysis, investment guidance, news & views, and is designed to meet the requirements of everyone from a beginner to a savvy and well-informed trader.

Mr. VIVEK RANA Mr RAJIV BALHARA

Chairman / Managing Director Director

13

Mr. KULDEEP SHARMA Mr. YAJUR CHAUDHARY

Director Director

Mr. RAJNEESH AGARWALA Director Mr. VIPIN KUMAR Mr. GAJRAJ SINGH Mr. ANIL KAUSHIK Director Director Director

Products of Gulf Bulls Securities

Equity Trading Derivative Trading Portfolio Management Services Fundamental Research Reports Trading Research Reports Mutual Fund distribution

Equity (Shares)
We can say that a Share or Stock is a document issued by a company, which entitles its holder to be one of the owners of the company. A share is issued by a company or can be purchased from the stock market.

14

Derivatives
Derivative is a product whose value is derived from the value of one or more basic variables, called bases(underlying asset, index, or reference rate), in a contractual manner. The underlying asset can be equity, commodity, or any other asset, for example, wheat farmers wish to sell their harvest at a future to eliminate risk of a change in price by that date. Such a transaction is an example of a derivative. The price of this derivative is driven by the spot price of wheat which is the underlying. In the Indian context the securities contracts(Regulation) Act, 1956 defines derivative to incude

A security derived from a debt instrument, share, loan, whether secured or unsecured, risk instrument or contract differences or any other form of security. A contract which derives its value from the prices, or index of underlying asset.

Derivative Products

Forward: A forward contract is a customized contract between to entities, where settlement takes place on a specific date in the future at todays pre-agreed price.

Futures: A future contract is an agreement between two parties to buy or sell an asset at a certain time in the future at the current price. Future contracts are special types of forward contracts in the sense that the former are standardized exchange-traded contracts.

Options: In finance, an option is a contract between a buyer and a seller that gives the buyer the right but not the obligationto buy or to sell a particular asset (the underlying asset) at a later day at an agreed price. In return for granting the option, the seller collects a payment (the premium) from the

15

buyer. A call option gives the buyer the right to buy the underlying asset; a put option gives the buyer of the option the right to sell the underlying asset. If the buyer chooses to exercise this right, the seller is obliged to sell or buy the asset at the agreed price. The buyer may choose not to exercise the right and let it expire. The underlying asset can be a piece of property, or shares of stock or some other security, such as, among others, a futures contract.

4. Swap: Traditionally, the exchange of one security for another to change the maturity (bonds), quality of issues (stocks or bonds), or because investment objectives have changed. Recently, swaps have grown to include currency swaps and interest rate swaps. If firms in separate countries have comparative advantages on interest rates, then a swap could benefit both firms. For example, one firm may have a lower fixed interest rate, while another has access to a lower floating interest rate. These firms could swap to take advantage of the lower rates.

16

Chapter 2 Research Methodology

17

The research study attempts to provide an empirical validation of the widely held existing theories on the determinants of firm performance in the Indian context. The study uses financial statement and capital market ,the research helps to study Indian firms financial performance across various dimensions viz., shareholder value, accounting profitability and its components, growth and risk of the sample firms. It reveals that even on the same data, the determinants of market-based performance measures and accounting-based performance measures differ due to influence of Capital Market Conditions. We found that size, marketing expenditure, and international diversification had a positive relation with a firms market valuation. Apart from these firm attributes that reflect either operating parameters of firms or strategic choice of firm managers, we also found that a firms ownership composition, particularly the level of equity ownership by Domestic Financial Institutions and Dispersed Public Shareholders, and the leverage of the firm were important factors affecting its financial performance. The different implications of the findings for various stakeholders of a firm are given importance.

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Technical Tips by a team of Professionally Qualified Analysts who have undisputed experience and technical expertise with good track record in Index Forecasts and Short Term Trading, with clear objective of providing Day Traders and Investors with some basic knowledge and guidance about trading through some highly affordable schemes.Intraday and Futures & Options Tips for day traders with more than 90% success rate. At GULF BULLS, all the sincere efforts are done to help Day Traders and Investors benefit from Indian Stock market by adopting a reasonably correct strategy with discipline. Tips for various market conditions BULL as well as BEAR markets are given to MAXIMIZE YOUR PROFIT, MINIMIZE YOUR LOSS.Research proposals on issues that have a bearing on securities market in India are welcome.

Proposals may be in any area including: Market Micro-structure and Design Market Efficiency Derivatives Fixed Income and Government Securities Market Investor Protection Risk Measurement and Management

Tools used in research methodology

Bollinger Band

19

A band plotted two standard deviations away from a simple moving average, developed by famous technical trader John Bollinger.

The basic interpretation of Bollinger Bands is that prices tend to stay within the upper- and lowerband. The distinctive characteristic of Bollinger Bands is that the spacing between the bands varies based on the volatility of the prices. During periods of extreme price changes (i.e., high volatility), the bands widen to become more forgiving. During periods of stagnant pricing(i.e., low volatility), the bands narrow to contain prices.

Mr. Bollinger notes the following characteristics of Bollinger Bands. Sharp price changes tend to occur after the bands tighten, as volatility lessens.

When prices move outside the bands, a continuation of the current trend is implied.

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for reversals in the trend.

A move that originates at one band tends to go all the way to the other band. This observation is useful when projecting price targets.

20

In this example of Bollinger bands, the price of the stock is banded by an upper and lower band along with a 21-day simple moving average. Standard deviation is a measure of volatility, Bollinger bands adjust themselves to the market conditions. When the markets become more volatile, the bands widen (move further away from the average), and during less volatile periods, the bands contract (move closer to the average). The tightening of the bands is often used by technical traders as an early indication that the volatility is about to increase sharply.

This is one of the most popular technical analysis techniques. The closer the prices move to the upper

21

band, the more overbought the market, and the closer the prices move to the lower band, the more oversold the market.

2. Moving Average

A Moving Average is an indicator that shows the average value of a security's price over a period of time. When calculating a moving average, a mathematical analysis of the security's average value over a predetermined time period is made. As the security's price changes, its average price moves up or down. The most popular method of interpreting a moving average is to compare the relationship between a moving average of the security's price with the security's price itself. A buy signal is generated when the security's price rises above its moving average and a sell signal is generated when the security's price falls below its moving average.

This type of moving average trading system is not intended to get you in at the exact bottom nor out at the exact top. Rather, it is designed to keep you in line with the security's price trend by buying shortly after the security's price bottoms and selling shortly after it tops.

The critical element in a moving average is the number of time periods used in calculating the average. When using hindsight, you can always find a moving average that would have been profitable. The key is to find a moving average that will be consistently profitable. The most popular moving average is the 39-week (or 200-day) moving average. This moving average has an excellent track record in timing the major (long-term) market cycles.

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3. Beta. . Beta is a measure of a stock's volatility in relation to the market. By definition, the market has a beta of 1.0, and individual stocks are ranked according to how much they deviate from the market. A stock that swings more than the market over time has a beta above 1.0. If a stock moves less than the market, the stock's beta is less than 1.0. High-beta stocks are supposed to be riskier but provide a potential for higher returns; low-beta stocks pose less risk but also lower returns.

Beta is a key component for the capital asset pricing model (CAPM), which is used to calculate cost of equity. Recall that the cost of capital represents the discount rate used to arrive at the present value of a company's future cash flows. All things being equal, the higher a company's beta is, the higher its cost of capital discount rate. The higher the discount rate, the lower the present value placed on the company's future cash flows. In short, beta can impact a company's share valuation

Advantages of Beta

To followers of CAPM, beta is a useful measure. A stock's price variability is important to consider when assessing risk. Indeed, if you think about risk as the possibility of a stock losing its value, beta has appeal as a proxy for risk.

Besides, beta offers a clear, quantifiable measure, which makes it easy to work with. Sure, there are variations on beta depending on things such as the market index used and the time period measured, but broadly speaking, the notion of beta is fairly straightforward to understand. It's a convenient measure that can be used to calculate the costs of equity used in a valuation method that discounts cash flows.

23

Disadvantages of Beta

For starters, beta doesn't incorporate new information. Consider the electrical utility company American Electric Power (AEP). Historically, AEP has been considered a defensive stock with a low beta. But when it entered the merchant energy business and assumed high debt levels, AEP's historic beta no longer captured the substantial risks the company took on. At the same time, many technology stocks, such as Google, are so new to the market they have insufficient price history to establish a reliable beta.

Another troubling factor is that past price movements are very poor predictors of the future. Betas are merely rear-view mirrors, reflecting very little of what lies ahead.

Furthermore, the beta measure on a single stock tends to flip around over time, which makes it unreliable. Granted, for traders looking to buy and sell stocks within short time periods, beta is a fairly good risk metric. But for investors with long-term horizons, it's less useful.

4. Resistance and support level.

Support is the price level at which demand is thought to be strong enough to prevent the price from declining further. The logic dictates that as the price declines towards support and gets cheaper, buyers become more inclined to buy and sellers become less inclined to sell. By the time the price reaches the support level, it is believed that demand will overcome supply and prevent the price from falling below support.

24

Support levels are usually below the current price, but it is not uncommon for a security to trade at or near support. Technical analysis is not an exact science and it is sometimes difficult to set exact support levels. In addition, price movements can be volatile and dip below support briefly. Sometimes it does not seem logical to consider a support level broken if the price closes 1/8 below the established support level. Resistance is the price level at which selling is thought to be strong enough to prevent the price from rising further. The logic dictates that as the price advances towards resistance, sellers become more inclined to sell and buyers become less inclined to buy. By the time the price reaches the resistance level, it is believed that supply will overcome demand and prevent the price from rising above resistance.

25

Resistance levels are usually above the current price, but it is not uncommon for a security to trade at or near resistance. In addition, price movements can be volatile and rise above resistance briefly. Sometimes it does not seem logical to consider a resistance level broken if the price closes 1/8 above the established resistance level.

5. MACD

The MACD ("Moving Average Convergence/Divergence") is a trend following momentum indicator that shows the relationship between two moving averages of prices. The MACD was developed by Gerald Appel, publisher of Systems and Forecasts.

26

The MACD is the difference between a 26-day and 12-day exponential moving average. A 9-day exponential moving average, called the "signal" (or "trigger") line is plotted on top of the MACD to show buy/sell opportunities. (Appel specifies exponential moving averages as percentages as explained on page 170. Thus, he refers to these three moving averages as 7.5%, 15%, and 20% respectively.) Interpretation The MACD proves most effective in wide-swinging trading markets. There are three popular ways to use the MACD: crossovers, overbought/oversold, and divergences. Crossovers.

The basic MACD trading rule is to sell when the MACD falls below its signal line. Similarly, a buy signal occurs when the MACD rises above its signal line. It is also popular to buy/sell when the MACD goes above/below zero. Overbought/ Oversold Conditions.

The MACD is also useful as an overbought/oversold indicator. When the shorter moving average pulls away dramatically from the longer moving average (i.e., the MACD rises), it is likely that the security price is overextending and will soon return to more realistic levels. MACD overbought and oversold conditions exist vary from security to security. Divergences.

A indication that an end to the current trend may be near occurs when the MACD diverges from the security (page 32). A bearish divergence occurs when the MACD is making new lows while prices fail to reach new lows. A bullish divergence occurs when the MACD is making new highs while

27

prices fail to reach new highs. Both of these divergences are most significant when they occur at relatively overbought/oversold levels.

6. Chart Study

Profitable Pattern Number One THE SYMMETRICAL TRIANGLE: A RELIABLE WORKHORSE The symmetrical triangle pattern is seen in a stocks price vacillating up and down and converging towards a single point. Its back and forth oscillations will become smaller and smaller until the stock reaches a critical price, breaks out of the pattern, and moves drastically up or down. The symmetrical triangle pattern is formed when investors are unsure of a stocks value. Once the

pattern is broken, investors jump on the bandwagon, shooting the stock price north or south.

How to Profit from Symmetrical Triangles

28

Symmetrical triangles are very reliable. You can profit from upwards or downwards breakouts. Youll learn more about how to earn from downtrends when we talk about maximizing profits. If you see a symmetrical triangle forming, Sideways movement, a period of rest, before the breakout. Price of the asset traveling between two converging trendlines. Breakout of the way to the apex.

Profitable Pattern Number Two

ASCENDING AND DESCENDING TRIANGLES: THE TRADITIONAL BULL AND BEAR When you notice a stock has a series of increasing troughs and the price is unable to break through a price barrier, chances are you are witnessing the birth of an ascending triangle pattern.

The descending triangle is the bearish counterpart to the ascending triangle.

29

.
The ascending and descending patterns indicate a stock is increasing or decreasing in demand. The stock meets a level of support or resistance (the horizontal trendline) several times before breaking out and continuing in the direction of the developing up or down pattern.

How to Profit from Ascending and Descending Triangles

Ascending and descending triangles are short-term investor favorites, because the trends allow

short-term traders to earn from the same sharp price increase that long-term investors have been waiting for. Rather than holding on to a stock for months or years before you finally see a big payday, you can buy and hold for only a period of days and reap in the same monster returns as the longtime stock owners. As with many of our favorite patterns, when you learn to identify ascending and descending triangles, you can profit from upwards or downwards breakouts. That way, youll earn a healthy profit regardless of where the market is going.

Profitable Pattern Number Three

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HEAD AND SHOULDERS: A CHARTADVISOR STAPLE

The head and shoulders pattern is a prevailing pattern among short sellers, investors who profit from downtrends. After three peaks, the stock plummets, offering a textbook, high-return opportunity to traders who catch the trend early.

Head and Shoulders Pattern Head and shoulder patterns are characterized by a large peak bordered on either side by two smaller peaks. one trendline, called the neckline, connecting the bottom of the two troughs.

The first trough is a signal that buying demand is starting to weaken. Investors who believe the stock is undervalued respond with a buying frenzy, followed by a flood of selling when traders fear the stock has run too high. This decline is followed by another buying streak which fizzles out early. Finally, the stock declines to its true worth below the original price.

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Profitable Patterns Number Four and Five TRIPLE AND DOUBLE BOTTOMS AND TOPS: REVERSALS UPON REVERSALS

A W or M pattern forming is just discovered a money-making double bottom or double top pattern. These patterns are common reversal patterns used to suggest the current stock trend may be likely to shift.

Double Bottom Pattern

Double Bottom Pattern A small peak is surrounded by two equal troughs.

Purchase When: The price exceeds the middle-peak price. Watch For: A price increase of 10% to 20% from the first trough to the middle peak. Two equal lows, not to differ by more than 3% or 4%.

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Triple Bottom Pattern

Triple Bottom Pattern Three equal troughs amid a series of peaks.

Purchase When: The price exceeds the resistance established by the prior peaks.

Watch For: A series of three identical troughs at the end of a prolonged downtrend. For triple bottom patterns, sell your stock at a target price of: Entry price plus the patterns height (distance from the resistance to the bottom of the lowest trough).

Triple Top Pattern

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Triple Top Pattern Three equal peaks amid a series of troughs.

Purchase When: The price falls below the support that formed from the prior troughs.

Watch For: A series of three peaks at relatively the same level.

Set Target Price: For triple top patterns, buy shares at a target price of: Entry price minus the patterns height (distance from the support to the top of the highest peak).

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Chapter 3
35

Companys Profile

INTRODUCTION
Educomp Solutions Ltd. was incorporated in 1994.Its Chairman & managing director is Mr. SHANTANU PRAKASH (IIM A) It works schools implementing innovative model, creating and delivering content to enhance student learning. It focus in the K-12 curriculum design and teacher education space. Educomp has two subsidiaries Incorporated in 1994 10.99 million Learners 21,000 Schools 4500 Professionals 27 Offices Presence in India, North America and the Asia Pacific Region Works with 13 state governments in India 36 to tap the opportunity arising from a shortage of schools in India, namely, Educomp Infrastructure and Educomp School Management.

Vision: To apply innovative solutions to solve critical problems relating to quality of education access to education for all.

Educomp is a publicly traded company on the Bombay Stock Exchange and National Stock Exchange, India. Sl. 1. Educomp Products Educomp has over the years been at the forefront of various pioneering initiatives in the e-education space. A few notable examples are Introduced Smart classTM, a teacher-led content 2. 3. 4. 5. 6. Venture with AsknLearn Three Bricks AuthorGen Tech. Savvica Learning.com Raffles Education Gr.

delivery system that has dramatically improved learning effectiveness in class.

37

Developed Indias richest 3 D K-12 content library with over 15,000 modules aligned to Indian and international learning standards.

Developed Roots to WingsTM, Indias first structured Pre-School learning system. Developed Mathguru.com an online learning initiative. Pioneered Education Process Outsourcing in India through the Learning Hour platform, a benchmark for other similar initiatives. Conducted Professional Development workshops, training more than a million teachers in technology integration, pedagogy, and best practices in teaching. Educomps Research Team constantly evolves more effective methods to reach out to learners and educators.

Recognition In recognition of its innovations and product offerings, Educomp was conferred the "CNBC-ICICI Bank Emerging India Award" as the Company of the year 2005 in the ICE and ITeS category. The Company also has the honor of being the first company in India to have been rated SME1 by CRISIL, in recognition for its outstanding creditworthiness. In addition, the Company also received. A P1 rating for commercial paper from CRISIL An "A" (Stable) rating for long term debt (Non-Convertible Debentures) from Fitch Ratings. An A / Stable rating for cash credit facilities from CRISIL.

An ISO 9001:2000 certification in application of ICT (Information & Communication Technology) related to computer aided learning, training and computer literacy projects in Schools.

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Educomp Solutions has been named in the 200 Best under a Billion for the Asia-Pacific region by Forbes (Sept 29, 2008 issue). In December 2007, BT 500 ranked Educomp as the 7th biggest in Price 2823.55 Face Value Rs.10 BSE sensex 14296 Volume Change 127700 52 week H/L 4219.00-1331.00 BSE Scrip Code 532696 NSE Scrip Code INE 216H01019 Resistance Level(E) 2870 Support Level(E) 2800 Beta 1.44 Index BSE 100,BSE Mid Cap Group A Listed on BSE/NSE 13th January 2006 percentage gain in market cap (H1, 2007 over H1, 2006) and 140 in the list of the most valuable private sector companies in India (up from rank 346 in BT 500 list of November 2006). The Company has been ranked 319 by ET 500 March 2007 issue. Educomp was chosen as the "FUTURE TITAN", one of the 10 hottest companies in India by Outlook Business Magazine in November 2006. It was also rated the best performing IPO of the year 2006 across all sectors in India. Educomp aims to usher an era of anytime, anywhere learning to break down the barriers to education. The Company is aligned with emerging paradigms in pedagogy that underline "What Learning Can Be".

Stock Quotes as on 29th may,2009

39

PROMOTERS Indian(DII) FII Others

% 55.02 39.70 5.28

PE ratio EPS (Rs) Sales (Rs crore) Face Value (Rs) Net profit margin (%) last dividend (%) Return on average equity

31.54 1839.04 10 25.51 25 24.43

Mar, 09 Mar, 09 1994 Mar, 08 02/06/08 Mar, 08

40

Othe rs 5%

FII 40%

(India n (DII 55%

Ratio Analysis
Ratio Leverage Profitability Net Profit 2008-09 1.28 68.46 29.64 2007-08 1.22 47.58 26.73 2006-07 1.03 46.96 26.82

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Liquidity

5.90

5.64

5.23

Charts on Monthly basis May

date 29-May-09 28-May-09

Open 2,849.00 2,835.00

High 2,883.80 2,849.00

Low 2,805.00 2,757.20

Close 2,823.55 2,817.30

Volume 127,700 146,300

42

27-May-09 26-May-09 25-May-09 22-May-09 21-May-09 20-May-09 19-May-09 18-May-09 15-May-09 14-May-09 13-May-09 12-May-09 11-May-09 8-May-09 7-May-09 6-May-09 5-May-09 4-May-09

2,920.00 2,900.00 2,750.00 2,634.90 2,545.00 2,669.90 2,811.00 2,506.00 2,445.00 2,400.00 2,444.90 2,389.00 2,355.00 2,251.20 2,300.00 2,395.00 2,400.00 2,540.00

2,920.00 2,932.90 2,917.00 2,750.00 2,699.00 2,720.00 2,950.00 2,599.00 2,445.00 2,470.00 2,520.00 2,452.90 2,449.95 2,367.00 2,346.00 2,430.00 2,447.00 2,640.00

2,763.25 2,716.10 2,730.25 2,620.00 2,530.00 2,538.00 2,500.00 2,506.00 2,360.00 2,358.00 2,435.00 2,385.25 2,330.00 2,250.00 2,240.00 2,238.00 2,332.00 2,352.00

2,820.55 2,738.00 2,881.35 2,723.85 2,638.50 2,555.15 2,671.95 2,506.00 2,377.50 2,393.60 2,471.80 2,423.20 2,402.65 2,310.70 2,261.45 2,269.00 2,376.80 2,377.25

135,300 263,100 307,900 304,900 234,500 238,300 315,300 0 162,600 223,200 339,300 304,300 471,300 514,000 378,000 409,700 355,900 621,100

News in the month of may

15th may Edureach, which has partnered with the government in implementing ICT intervention in 14,000 schools in 14 states, launched a documentary on the impact of ICT 14th may intervention on students Educomp bags Rs 83.82 crore order from Gujarat government to introduce computer-aided learning in 13 may
th

5099 secondary/senior secondary schools in the state Educomp bags Rs. 83.82 crores contract from Gujarat Government; Expands reach to over 5000 Government schools in Gujrat and close to 14000 schools across India.

43

2,700.00 2,600.00 2,500.00 2,400.00 2,300.00 2,200.00 2,100.00 S=2250 R=2500 High low close

2,000.00 8-May-09 7-May-09 6-May-09 5-May-09 4-May-09

Fall of Rs.67 within a week

2,550.00 2,500.00 2,450.00 2,400.00 2,350.00 2,300.00 2,250.00 2,200.00 15-May- 14-May- 13-May- 12-May- 11-May09 09 09 09 09 S=2360 High low close R=2475

*There is a fall of Rs.25 in a week

44

3,000.00 2,900.00 2,800.00 2,700.00 2,600.00 2,500.00 2,400.00 2,300.00 2,200.00 22-May- 21-May- 20-May- 19-May- 18-May09 09 09 09 09 S=2525 High low close R=2875

*A rise of Rs.217 in a week

2,950.00 2,900.00 2,850.00 2,800.00 2,750.00 2,700.00 2,650.00

R=2900

High low close S=2725

2,600.00 29-May- 28-May- 27-May- 26-May- 25-May09 09 09 09 09

*A fall of Rs.58

45

1,000.00

1,500.00

2,000.00

2,500.00

3,000.00

3,500.00

500.00

0.00

Support level 2450

Resistance level 2800

* there is a rise of Rs.440 within a month.

25 -M 22 ay-M 09 21 ay-M 09 20 ay-M 09 19 ay-M 09 18 ay-M 09 15 ay-M 09 14 ay-M 09 13 ay-M 09 12 ay-M 09 11 ay-M 09 a 8- y- 09 M a 7- y-0 M 9 a 6- y-0 M 9 a 5- y-0 M 9 a 4- y-0 9 M ay -0 9

Low

High

Close

46

April
Date 29-Apr-09 28-Apr-09 27-Apr-09 24-Apr-09 23-Apr-09 22-Apr-09 21-Apr-09 20-Apr-09 17-Apr-09 16-Apr-09 15-Apr-09 13-Apr-09 9-Apr-09 8-Apr-09 6-Apr-09 2-Apr-09 1-Apr-09 Open 2,415.00 2,590.00 2,525.00 2,600.25 2,410.00 2,441.00 2,305.25 2,216.00 2,230.00 2,225.00 2,001.00 2,245.00 2,270.00 2,347.80 2,400.00 2,250.00 2,110.00 High 2,498.80 2,599.00 2,625.00 2,692.20 2,670.00 2,491.00 2,474.00 2,430.00 2,308.00 2,349.00 2,247.80 2,250.00 2,324.95 2,347.80 2,444.00 2,385.00 2,250.00 Low 2,395.00 2,341.10 2,501.00 2,525.00 2,371.50 2,372.00 2,268.80 2,192.00 2,165.00 2,190.00 1,970.00 2,002.00 2,085.00 2,195.00 2,372.90 2,250.00 2,074.00 Close 2,474.25 2,388.20 2,585.20 2,557.85 2,594.40 2,401.95 2,419.30 2,374.95 2,184.75 2,213.45 2,198.40 2,043.45 2,178.95 2,249.25 2,393.90 2,341.40 2,207.60 Volume 335,900 372,200 417,900 661,100 668,700 586,200 851,200 656,000 327,700 630,600 762,700 480,800 376,500 280,300 350,500 436,800 400,700

News in the month of April

30th apr Educomp announces plan to set up a second Raffles International College in Bengaluru, after establishing the first centre in New Delhi through alliance with 24th apr Raffles Education Corporation Limited. The Millennium School, Noida, invites a kabadiwala as chief guest at the launch of its Eco Club, which aims at inculcating environmental understanding among children.

47

2,800.00 2,700.00 R= 2610 2,600.00 2,500.00 2,400.00 2,300.00 2,200.00 2,100.00 29-A pr-09 S =2350 High Low Clos e

28-A pr-09

27-A pr-09

24-A pr-09

*A Fall of Rs.83 in a week

3 ,000 .0 0 R = 25 0 0 2 ,500 .0 0 2 ,000 .0 0 1 ,500 .0 0 1 ,000 .0 0 50 0.00 0 .0 0 2 3-A p r-0 9 S = 22 5 0

H ig h L ow C lo s e

2 2 -A p r-0 9

2 1 -A p r-09

20 -A p r-0 9

*A rise of Rs.223 in a week

48

2 ,5 0 0 . 0 0 2 ,0 0 0 . 0 0 1 ,5 0 0 . 0 0 1 ,0 0 0 . 0 0 500.00 0.00 1 7 -A p r-0 9

R = 2250

S = 2000

H ig h Low C lo s e

1 6 -A p r-0 9

1 5 -A p r-0 9

1 3 -A p r-0 9

*A rise of Rs.141

2,500 .0 0 2,400 .0 0 2,300 .0 0 2,200 .0 0 2,100 .0 0 S = 21 50 2,000 .0 0 1,900 .0 0 1,800 .0 0 9 -A p r-09 H ig h Low C lo s e R = 2 4 00

8-A pr-09

6 -A pr-09

2 -A p r-0 9

1-A pr-09

*A fall of Rs.29 in a week

49

3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00

29 -A p 28 r-0 -A 9 p 27 r-0 -A 9 p 24 r-0 -A 9 p 23 r-0 -A 9 p 22 r-0 -A 9 p 21 r-0 -A 9 p 20 r-0 -A 9 p 17 r-0 -A 9 p 16 r-0 -A 9 p 15 r-0 -A 9 p 13 r-0 -A 9 pr 9- -0 9 Ap r 8- -09 Ap r 6- -09 Ap r 2- -09 Ap r 1- -09 Ap r-0 9

High Low Close

Resistance level 2550 Support level 2050

March
Date Open 31-Mar-09 30-Mar-09 27-Mar-09 26-Mar-09 25-Mar-09 24-Mar-09 23-Mar-09 2,061.30 2,180.00 2,165.00 2,070.00 2,074.80 2,040.00 1,950.25 High 2,140.00 2,180.00 2,255.00 2,160.00 2,074.80 2,145.00 2,037.00 Low 2,031.50 2,031.00 2,150.00 2,050.00 1,970.00 2,022.00 1,940.00 Close 2,090.65 2,050.65 2,199.35 2,135.90 2,044.15 2,054.65 2,015.65 Volume 431,100 312,800 448,300 414,000 563,000 637,000 665,200

50

20-Mar-09 19-Mar-09 18-Mar-09 17-Mar-09 16-Mar-09 13-Mar-09 12-Mar-09 9-Mar-09 6-Mar-09 5-Mar-09 4-Mar-09 3-Mar-09 2-Mar-09

1,931.95 1,998.00 1,950.00 1,950.00 1,780.00 1,585.15 1,542.00 1,540.00 1,535.00 1,590.00 1,550.00 1,600.00 1,610.00

1,945.45 2,002.20 2,024.30 2,039.90 1,944.95 1,793.00 1,574.90 1,547.00 1,577.00 1,634.00 1,600.00 1,635.00 1,643.00

1,826.00 1,852.20 1,942.10 1,933.00 1,780.00 1,585.15 1,521.10 1,495.15 1,473.60 1,521.00 1,536.10 1,515.75 1,510.00

1,898.00 1,931.95 1,964.50 1,954.30 1,931.35 1,762.90 1,560.60 1,513.80 1,560.25 1,546.35 1,570.80 1,530.25 1,605.35

723,600 747,100 724,600 931,000 929,600 994,600 381,300 430,800 771,900 705,000 761,700 916,400 724,500

News in the month of March

24th mar Asias largest private education group Raffles Education Corporation establishes its second design training centre at Pusa Road in New Delhi through 14 mar
th

joint venture with Educomp Solutions Ltd. Raffles Education Corporation partners with Educomp Solutions Limited to launch its design institute Raffles Millennium International that will offer various certificate courses. enture with Educomp Solutions Ltd.

51

2,300.00 2,200.00 2,100.00 2,000.00 1,900.00 1,800.00 31- 30- 27- 26- 25Mar- Mar- Mar- Mar- Mar09 09 09 09 09

high low close

*A Rise of Rs.46
2,200.00 2,100.00 2,000.00 1,900.00 1,800.00 1,700.00 1,600.00 24- 23- 20- 19- 18Mar- Mar- Mar- Mar- Mar09 09 09 09 09

high low close

*A rise of Rs.90 in a Week

2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 17- 16- 13- 129Mar- Mar- Mar- Mar- Mar09 09 09 09 09

high low close

*A rise of Rs.441 in a week

52

1,700.00 1,650.00 1,600.00 1,550.00 1,500.00 1,450.00 1,400.00 1,350.00 65432Mar- Mar- Mar- Mar- Mar09 09 09 09 09

high low close

*A fall of Rs.45 in a week.

2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00

31 30 Ma - r27 Ma 09 - r26 Ma 09 - r25 Ma 09 - r24 Ma 09 - r23 Ma 09 - r20 Ma 09 - r19 Ma 09 - r18 Ma 09 - r17 Ma 09 - r16 Ma 09 - r13 Ma 09 - r12 Ma 09 -M r- 0 9- ar- 9 M 0 6- a r 9 M -0 5- a r 9 M -0 4- a r 9 M -0 3- a r- 9 M 0 2- a r 9 M -0 ar 9 -0 9

Resistance level High Low Close

Support level

Resistance level 1897.63 Support level 1784.28

53

February
Date 27-Feb-09 26-Feb-09 25-Feb-09 24-Feb-09 20-Feb-09 19-Feb-09 18-Feb-09 17-Feb-09 16-Feb-09 13-Feb-09 12-Feb-09 11-Feb-09 10-Feb-09 9-Feb-09 6-Feb-09 5-Feb-09 4-Feb-09 3-Feb-09 2-Feb-09 Open 1,520.00 1,618.85 1,599.00 1,700.00 1,970.00 2,130.00 1,970.00 2,010.00 2,130.00 1,974.00 1,790.00 1,850.00 1,595.00 1,430.00 1,404.00 1,400.00 1,490.05 1,594.40 1,770.00 High 1,669.30 1,635.00 1,684.70 1,725.00 1,985.00 2,177.00 2,140.15 2,055.00 2,162.00 2,145.00 1,985.00 1,959.00 1,968.00 1,615.00 1,438.40 1,449.00 1,565.90 1,635.25 1,825.00 Low 1,489.00 1,480.00 1,592.00 1,536.10 1,711.10 1,991.00 1,956.00 1,910.00 2,026.00 1,938.00 1,790.00 1,774.00 1,595.00 1,402.00 1,331.00 1,356.00 1,392.65 1,450.00 1,635.55 Close 1,643.95 1,567.90 1,618.85 1,565.50 1,771.85 2,015.65 2,117.75 2,006.15 2,055.00 2,097.20 1,956.85 1,837.75 1,891.45 1,597.05 1,401.40 1,394.00 1,412.85 1,490.05 1,698.70 Volume 1,234,200 1,261,800 994,400 1,488,100 1,626,600 1,131,100 1,120,700 905,700 990,600 955,600 803,200 1,220,800 1,410,100 873,200 785,500 359,200 674,100 715,300 550,700

News in the month of February

4th Feb Education solutions provider educomp Solutions Ltd

54

has said it will work with the Government and 4 Feb

th

regulators to prove the company's credibility IT education solutions provider Educomp Solutions Ltd on Tuesday informed the Bombay Stock Exchange (BSE) that will appoint global consultancy firm Grant Thornton

3 Feb

rd

as internal auditor Indias largest education company, Educomp Solutions Ltd today announced its plans for setting up budget schools in small towns across India

2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 27- 26- 25- 24- 20Feb- Feb- Feb- Feb- Feb09 09 09 09 09

high low close

*A fall of Rs.128

55

2,200.00 2,100.00 2,000.00 1,900.00 1,800.00 1,700.00 19- 18- 17- 16- 13Feb- Feb- Feb- Feb- Feb09 09 09 09 09

high low close

*A rise of Rs.82 in a week.

2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 12- 11- 1096Feb- Feb- Feb- Feb- Feb09 09 09 09 09

high low close

*A Rise of Rs.555 in a week.

56

2,000.00 1,500.00 1,000.00 500.00 0.00 5432Feb- Feb- Feb- Feb09 09 09 09 high low close

*A fall of Rs.304.

57

1,000.00

1,500.00

2,000.00

2,500.00

500.00

0.00

Support level 1650.28

Resistance level 1832.56

Resistance level

Support level

27 26 Feb - 25 Feb 09 - 24 Feb 09 - 20 Feb 09 - 19 Feb 09 - 18 Feb 09 - 17 Feb 09 - 16 Feb 09 - 13 Feb 09 - 12 Feb 09 - 11 Feb 09 - 10 Feb 09 -F - 0 9- eb- 9 F 0 6- eb- 9 F 0 5- eb- 9 F 0 4- eb- 9 F 0 3- eb- 9 F 0 2- eb- 9 Fe 0 9 b09

Low

High

Close

58

January
Date 30-Jan-09 29-Jan-09 28-Jan-09 27-Jan-09 23-Jan-09 22-Jan-09 21-Jan-09 20-Jan-09 19-Jan-09 16-Jan-09 15-Jan-09 14-Jan-09 13-Jan-09 12-Jan-09 9-Jan-09 7-Jan-09 6-Jan-09 5-Jan-09 2-Jan-09 1-Jan-09 Open 1,752.00 1,820.00 1,755.00 1,782.00 1,747.00 1,550.00 1,925.00 2,025.00 2,115.00 1,966.75 1,850.00 1,994.80 1,999.00 2,140.00 2,350.00 2,655.00 2,637.90 2,600.00 2,575.00 2,425.00 High 1,824.90 1,825.00 1,795.00 1,825.00 1,785.00 1,815.00 1,932.00 2,073.00 2,170.00 2,112.00 1,985.00 2,049.00 2,032.00 2,140.00 2,358.00 2,722.00 2,705.00 2,675.00 2,609.90 2,555.00 Low 1,711.00 1,760.00 1,719.00 1,652.55 1,700.00 1,534.90 1,375.00 1,915.20 2,074.00 1,959.95 1,755.00 1,919.00 1,835.00 1,970.00 1,980.00 2,225.00 2,585.00 2,580.00 2,516.25 2,420.00 Close 1,792.55 1,796.75 1,777.70 1,720.70 1,747.35 1,782.80 1,534.90 1,969.35 2,106.35 2,088.20 1,936.95 1,945.50 1,946.10 1,997.10 2,127.90 2,374.45 2,642.30 2,643.95 2,546.75 2,529.85 Volume 414,400 341,200 354,400 766,000 595,000 1,733,000 1,391,700 1,009,600 516,800 509,900 383,000 386,400 504,900 380,800 530,600 495,800 429,000 315,100 395,600 384,300

News in the month of January

31st Jan Educomp Solutions has revieved orders from Uttar Pradesh and Assam for information and communication technology (ICT) implementation in 2,042 schools.The combined worth of these orders are Rs 120 crore.

59

28th Jan

E-LEARNING solutions provider Educomp Solutions on Tuesday reported an increase of 61.4% in its consolidated net profit the third quarter ended Decemmber 31,2008,

20 Jan 9 Jan
th

th

on the back of increased business. Shares of Educomp Solutions crashed on allegations About the company fudging its books. Educomp Solutions, Indias largest education company has signed a services agreement with Michael & Susan Dell Foundation, a United States based private Charitable Foundation, for Rs 4.78 crores.

1,850.00 1,800.00 1,750.00 1,700.00 1,650.00 1,600.00 1,550.00 30- 29- 28- 27- 23Jan- Jan- Jan- Jan- Jan09 09 09 09 09

high low close

*A Rise of Rs.45 within a week

60

2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 22- 21- 20- 19- 16Jan- Jan- Jan- Jan- Jan09 09 09 09 09

high low close

*Rise of Rs.306 in a week

2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 15- 14- 13- 129Jan- Jan- Jan- Jan- Jan09 09 09 09 09

high low close

*A fall of Rs.90 in a week

61

1,000.00

1,500.00

2,000.00

2,500.00

3,000.00

500.00

0.00

Support level 1500 *A fall of Rs.125 in a week

30 29 Ja n - -0 28 Ja n 9 - -0 27 Ja n 9 - 23 Ja n 09 - 22 Ja n 09 - -0 21 Ja n 9 - -0 20 Ja n 9 - 19 Ja n 09 - 16 Ja n 09 - -0 15 Ja n 9 - -0 14 Ja n 9 - 13 Ja n 09 - 12 Ja n 09 -J -0 a 9 9- nJa 09 7- n J 0 6- an - 9 J 0 5- an - 9 Ja 09 2- n J 09 1- an Ja 09 n09
76521Jan- Jan- Jan- Jan- Jan09 09 09 09 09

Resistance level 2500

Low High
low

3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00

Close

high

close

62

December
Volum Date Open High Low Close e 2,423.0 2,478.9 2,385.5 2,403.5 31-Dec-08 0 30-Dec-08 0 29-Dec-08 0 26-Dec-08 0 24-Dec-08 0 23-Dec-08 0 22-Dec-08 0 19-Dec-08 0 18-Dec-08 0 17-Dec-08 0 16-Dec-08 0 15-Dec-08 0 12-Dec-08 5 0 5 0 5 0 338,100 2,150.0 2,159.8 2,050.0 2,088.1 508,700 2,100.0 2,192.2 2,100.0 2,134.7 0 0 5 678,000 2,125.0 2,324.0 2,099.9 2,298.9 0 5 5 677,200 2,340.0 2,433.0 2,291.3 2,323.7 0 0 0 704,200 2,325.0 2,674.0 2,305.2 2,615.7 0 0 5 659,300 2,580.0 2,774.0 2,571.2 2,732.4 0 0 0 548,200 2,715.0 2,865.0 2,680.1 2,804.1 0 0 0 559,600 2,760.0 2,775.0 2,590.0 2,627.1 0 0 5 537,300 2,601.2 2,636.0 2,520.0 2,564.5 0 0 5 512,500 2,525.0 2,590.0 2,383.0 2,409.3 0 0 0 413,100 2,400.0 2,488.0 2,360.0 2,455.3 0 5 5 518,200 2,475.0 2,490.1 2,368.4 2,396.3 392,500

63

0 11-Dec-08 0 10-Dec-08 0 8-Dec-08 0 5-Dec-08 0 4-Dec-08 0 3-Dec-08 0 2-Dec-08 5 1-Dec-08 0

5 655,700

2,167.0 2,294.0 2,127.0 2,219.5 0 0 5 560,800 0 0 0 580,900 0 0 0 845,700 0 0 0 818,300 0 5 5 705,100 0 5 5 624,600 0 5 5 726,300 0 0 5 2,249.0 2,361.0 2,150.0 2,190.6 2,111.6 2,134.0 1,982.1 2,098.4 2,110.0 2,186.0 2,001.1 2,073.4 2,105.0 2,305.0 2,043.3 2,246.8 2,265.1 2,265.1 2,061.0 2,104.8 2,190.0 2,224.7 2,087.3 2,112.8

2,112.8 2,195.0 2,075.0 2,167.6

News in the month of December

15th Dec EasyTech, a K-8 technology literacy curriculum by Learning.com, has been awarded the ISTE Seal of Alignment by the International Society for Technology 11th Dec in EducationISTE" ROOTS TO WINGS has been awarded 'Emerging Franchisor of the Year 2008 ' for excellence in Franchising and Business Development, by Franchise India Holdings Limited, Asia's largest integrated franchise solution

64

company since 1999.

2,700.00 2,600.00 2,500.00 2,400.00 2,300.00 2,200.00 31- 30- 29- 26- 24Dec- Dec- Dec- Dec- Dec08 08 08 08 08

high low close

*A fall of Rs.161 in a week

3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 23- 22- 19- 18- 17Dec- Dec- Dec- Dec- Dec08 08 08 08 08

high low close

*A rise of Rs.304

2,400.00 2,300.00 2,200.00 2,100.00 2,000.00 1,900.00 16- 15- 12- 11- 10Dec- Dec- Dec- Dec- Dec08 08 08 08 08

high low close

*A rise of Rs.131.

65

1,000.00

1,500.00

2,000.00

2,500.00

3,000.00

3,500.00

500.00

0.00

Support level 2200 *A Fall of Rs.78 in a week

85432Dec- Dec- Dec- Dec- Dec08 08 08 08 08

Resistance level 2700

2,400.00 2,300.00 2,200.00 2,100.00 2,000.00 1,900.00 1,800.00

31 30 De - c 29 De -0 8 - c 26 De -0 8 - c 24 De -0 8 - c 23 De -0 8 - c 22 De -0 8 - c 19 De -0 8 - c 18 De -0 8 - c 17 De -0 8 - c 16 De -0 8 - c 15 De -0 8 - c 12 De -0 8 - c 11 De -0 8 - c 10 De -0 8 -D c -0 8- ec 8 D -0 5- ec 8 D -0 4- ec 8 D -0 3- ec 8 D -0 2- ec 8 D -0 1- ec 8 D -0 ec 8 -0 8

low

high

close

Low

High

Close

66

November
Date 28-Nov-08 26-Nov-08 25-Nov-08 24-Nov-08 21-Nov-08 20-Nov-08 19-Nov-08 18-Nov-08 17-Nov-08 14-Nov-08 12-Nov-08 11-Nov-08 10-Nov-08 7-Nov-08 6-Nov-08 5-Nov-08 4-Nov-08 3-Nov-08 Open 2,010.00 2,045.00 1,880.00 1,784.90 1,800.00 1,819.90 2,350.00 2,301.00 2,419.00 2,499.00 2,450.00 2,600.00 2,611.00 2,400.00 2,500.00 2,600.00 2,624.95 2,300.00 High 2,370.00 2,085.00 2,055.70 1,861.00 1,848.90 1,825.00 2,406.90 2,395.00 2,469.00 2,585.00 2,575.00 2,700.00 2,749.00 2,610.00 2,600.00 2,825.00 2,669.95 2,700.00 Low 1,958.00 1,961.50 1,850.00 1,685.00 1,660.00 1,627.00 1,875.00 2,242.35 2,268.00 2,400.00 2,390.00 2,460.00 2,605.00 2,340.00 2,402.00 2,600.00 2,452.20 2,280.00 Close 2,261.45 2,059.30 2,020.90 1,839.25 1,785.40 1,752.20 1,928.65 2,342.90 2,350.00 2,428.70 2,428.90 2,512.55 2,728.40 2,556.60 2,434.30 2,685.45 2,610.60 2,600.50 Volume 689,700 641,500 717,400 682,800 730,200 750,800 467,700 254,900 187,700 218,800 282,900 208,500 188,600 269,200 280,400 383,700 306,300 401,800

News in the month of November

67

16th Nov

'Educomp has made its presence in the Forbes list of best small- and medium-sized companies. It has also found mention in the coverage for being insulated from the economic slowdown and posting amazing results

8 Nov

th

for the second quarter of the fiscal year 2009. Educomp Solutions Ltd, in collaboration with IT company Intel, has launched Educomp O3 Learning System for one-on-one learning in schools. The company said it is planning to deploy the system in a

3rd Nov

slew of private and public-run schools. Educomp solutions has been awarded the contract by commissioner of Public Instruction, Government of Karnataka for implementation of Computer aided Education in 708 PU colleges in Karnataka.The order is valued at Rs. 50.27 crores to be executed over five years.

2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 28- 26- 25- 24- 21Nov- Nov- Nov- Nov- Nov08 08 08 08 08 high low close

*A rise of Rs.509 in a week

68

3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 19- 18- 17- 14- 12Nov- Nov- Nov- Nov- Nov08 08 08 08 08

high low close

*A fall of Rs.584 in a week

3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 10- 7654Nov- Nov- Nov- Nov- Nov08 08 08 08 08

high low close

*A Rise of Rs.128 in a week

69

1,000.00

1,500.00

2,000.00

2,500.00

3,000.00

28

500.00

0.00

Support level 1900

-N 26 ov -N -0 8 25 ov 0 -N 8 24 ov -N 0 8 21 ov -N 0 8 20 ov -N 0 8 19 ov -N -0 8 18 ov -N 0 8 17 ov -N 0 8 14 ov -N -0 8 12 ov -N -0 8 11 ov -N -0 8 10 ov -N 0 o 8 7- v -0 N o 8 6- v N 08 o 5- v N 08 o 4- v -0 N o 8 3- v -0 N ov 8 -0 8

Resistance level 2500

Low

High

Close

70

October
Date 31-Oct-08 29-Oct-08 28-Oct-08 27-Oct-08 24-Oct-08 23-Oct-08 22-Oct-08 21-Oct-08 20-Oct-08 17-Oct-08 16-Oct-08 15-Oct-08 14-Oct-08 13-Oct-08 10-Oct-08 8-Oct-08 7-Oct-08 6-Oct-08 3-Oct-08 1-Oct-08 Open 2,100.00 1,990.00 1,840.00 1,780.00 1,899.25 1,800.00 2,005.00 1,710.55 1,650.00 1,900.00 2,180.00 2,400.00 2,250.00 2,103.00 2,274.00 2,545.00 2,820.00 3,079.90 3,319.00 3,425.00 High 2,250.00 2,400.10 1,990.00 1,902.50 1,969.00 2,013.40 2,040.00 2,160.00 1,699.00 2,000.00 2,180.00 2,430.00 2,489.00 2,260.00 2,293.50 2,545.00 2,890.00 3,080.00 3,324.00 3,449.00 Low 2,053.00 1,830.00 1,840.00 1,515.00 1,735.00 1,655.00 1,811.00 1,700.00 1,525.10 1,600.00 1,780.25 2,287.00 2,250.00 2,095.00 2,000.00 2,225.00 2,550.00 2,750.00 3,100.00 3,277.00 Close 2,225.70 2,026.65 1,904.10 1,846.35 1,778.55 1,905.65 1,829.40 2,066.40 1,666.80 1,628.50 1,868.90 2,313.15 2,463.75 2,169.05 2,052.35 2,462.35 2,650.95 2,779.25 3,131.95 3,332.70 Volume 283,900 797,500 57,400 258,200 252,700 411,000 328,000 428,200 266,100 316,500 298,000 118,800 389,000 95,500 202,800 233,400 282,600 108,400 121,300 104,000

News in the month of October

21st Oct Educomp has acquired a 51% stake in Takshila Management Services Private Limited , a company that specializes in setting Up high quality schools in 7 Oct
th

Tier II & Tier III cities across India. 200 Best Under A Billion Lesson Plans.India is on a

71

tear to educate its children. Shantanu Prakash's Educomp is cashing in by bringing computers to the classroom.

3,000.00 2,000.00 1,000.00 0.00 31- 29- 28- 27- 24Oct- Oct- Oct- Oct- Oct08 08 08 08 08 high low close

*A rise of Rs.447

2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 23- 22- 21- 20- 17Oct- Oct- Oct- Oct- Oct08 08 08 08 08

high low close

*A rise of Rs.227 in the week

72

3,000.00 2,000.00 1,000.00 0.00 16- 15- 14- 13- 10Oct- Oct- Oct- Oct- Oct08 08 08 08 08 high low close

*A fall of 184 in a week

4,000.00 3,000.00 2,000.00 1,000.00 0.00 8- 7- 6- 3- 1Oct- Oct- Oct- Oct- Oct08 08 08 08 08

high low close

*A Fall of Rs.870 in a week.

73

1,000.00

1,500.00

2,000.00

2,500.00

3,000.00

3,500.00

4,000.00

500.00

0.00

Support level 1900

31 -O 29 ct -O -0 28 ct 8 -O -0 27 ct 8 -O -0 24 ct 8 -O -0 23 ct 8 -O -0 22 ct 8 -O -0 21 ct 8 -O -0 20 ct 8 -O -0 17 ct 8 -O -0 16 ct 8 -O -0 15 ct 8 -O -0 14 ct 8 -O -0 13 ct 8 -O -0 10 ct 8 -O -0 8 8- ct-0 O 8 7- ct-0 O 8 6- ct-0 O 8 3- ct-0 O 8 1- ct-0 O 8 ct -0 8

Resistance level 2800

Low High Close

74

September
Date 30-Sep-08 29-Sep-08 26-Sep-08 25-Sep-08 24-Sep-08 23-Sep-08 22-Sep-08 19-Sep-08 18-Sep-08 17-Sep-08 16-Sep-08 15-Sep-08 12-Sep-08 11-Sep-08 10-Sep-08 9-Sep-08 8-Sep-08 5-Sep-08 4-Sep-08 2-Sep-08 1-Sep-08 Open 3,150.00 3,300.00 3,450.00 3,550.00 3,520.00 3,650.00 3,725.00 3,396.00 3,200.00 3,510.00 3,330.00 3,579.70 3,630.00 3,570.00 3,605.00 3,727.70 3,809.00 3,747.00 3,925.00 4,015.00 3,770.00 High 3,401.00 3,314.00 3,478.00 3,550.00 3,630.00 3,690.00 3,810.00 3,880.00 3,370.00 3,520.00 3,520.00 3,579.70 3,699.00 3,640.00 3,707.00 3,730.00 3,848.00 3,769.00 3,925.00 4,020.00 4,020.00 Low 3,102.00 3,130.00 3,240.00 3,370.10 3,502.00 3,465.10 3,670.05 3,371.00 2,985.00 3,290.00 3,220.00 3,330.00 3,585.50 3,500.00 3,510.00 3,605.00 3,715.00 3,683.00 3,789.80 3,845.00 3,710.00 Close 3,381.60 3,265.40 3,313.30 3,434.20 3,526.85 3,497.10 3,703.10 3,628.10 3,314.30 3,319.75 3,488.55 3,408.20 3,604.85 3,591.65 3,539.45 3,625.00 3,729.30 3,700.25 3,821.05 3,921.35 3,989.65 Volume 107,900 115,200 95,200 83,900 84,200 105,900 167,500 107,000 125,900 740,900 89,000 80,200 89,300 112,400 92,400 56,200 51,700 46,200 88,900 148,300 230,200

News in the month of September

26th Sept. 18 Sept
th

Educomp gets Rs 109-cr contract from Karnataka Govt 22 Indian companies, including Educomp Solutions, Jain Irrigation and Glenmark Pharmaceuticals, have been named in the latest '200 Best under a Billion'

75

16 Sept

th

list for the Asia-Pacific region by US magazine Forbes Educomp Solutions has partnered with Intel, Dell and Acer to drive up the use of technology into classroom

11th Sept

teaching and learning in schools across India. Educomp Solutions, a primarily online education solutions provider, has taken 50% stake in Euro Kids International, a pre-school chain for a consideration of Rs. 39 crore.

3,800.00 3,600.00 3,400.00 3,200.00 3,000.00 2,800.00 30- 29- 26- 25- 24Sep- Sep- Sep- Sep- Sep08 08 08 08 08

high low close

*A fall of Rs.145 in a week

76

5,000.00 4,000.00 3,000.00 2,000.00 1,000.00 0.00 23- 22- 19- 18- 17S ep- S ep- S ep- S ep- S ep08 08 08 08 08

high low c los e

*A rise of Rs.178 in a week.

3,800.00 3,600.00 3,400.00 3,200.00 3,000.00 2,800.00 16- 15- 12- 11- 10S ep- S ep- S ep- S ep- S ep08 08 08 08 08
*A fall of Rs.51

high low c los e

77

4,200.00 4,000.00 3,800.00 3,600.00 3,400.00 3,200.00 9- 8- 5- 4- 2S ep- S ep- S ep- S ep- S ep 08 08 08 08 08
*A fall of Rs.364 in a week

high low c los e

4,500.00 4,000.00 3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00
30 -S 29 ep - 26 Sep 0 8 -S 25 ep 0 8 - -0 24 Sep 8 - 23 Sep 0 8 -S 22 ep 0 8 - -0 19 Sep 8 - 18 Sep 0 8 - 17 Sep 0 8 - -0 16 Sep 8 - 15 Sep 0 8 - 12 Sep 0 8 - 11 Sep 0 8 -S 10 ep 0 8 -S -0 8 9- epSe 0 8 8- pS 0 5- e p- 8 S 08 4- e pS 0 2- e p- 8 S 0 1- e p- 8 Se 08 p08

High Low Close

Resistance level 3600 Support level 3100

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August
Date 29-Aug-08 28-Aug-08 27-Aug-08 26-Aug-08 25-Aug-08 22-Aug-08 21-Aug-08 20-Aug-08 19-Aug-08 18-Aug-08 14-Aug-08 13-Aug-08 12-Aug-08 11-Aug-08 8-Aug-08 7-Aug-08 6-Aug-08 5-Aug-08 4-Aug-08 1-Aug-08 Open 3,589.00 3,460.00 3,370.00 3,325.00 3,230.00 3,185.00 3,250.00 3,319.00 3,288.80 3,450.00 3,399.00 3,302.00 3,551.00 3,450.00 3,345.00 3,298.50 3,250.00 3,225.00 3,220.00 3,100.00 High 3,841.00 3,675.00 3,495.00 3,360.00 3,384.00 3,220.00 3,292.00 3,340.00 3,325.00 3,450.00 3,508.80 3,433.00 3,619.70 3,590.00 3,445.00 3,375.00 3,390.00 3,270.00 3,295.00 3,279.00 Low 3,551.00 3,448.00 3,320.00 3,265.25 3,228.00 3,130.00 3,170.10 3,251.00 3,186.00 3,300.00 3,312.00 3,290.00 3,292.20 3,445.00 3,301.00 3,239.50 3,225.00 3,183.30 3,160.00 3,099.00 Close 3,773.55 3,592.15 3,447.90 3,341.65 3,356.10 3,195.25 3,186.05 3,282.65 3,279.50 3,331.25 3,423.10 3,398.95 3,343.00 3,539.90 3,423.15 3,347.30 3,268.90 3,205.85 3,214.60 3,213.05 Volume 218,300 162,800 115,200 48,400 62,100 37,000 30,500 31,700 43,500 69,300 71,400 51,100 99,700 46,800 60,400 42,700 67,100 27,100 34,600 72,700

News in the month of August

19th Aug 14 Aug
th

Educomp Solutions launches Smart class in reputed Himachal Girls School "The Delhi (Gurgaon)- based Educomp Solutions Ltd. is in the process of rolling out a master plan to revolutionise K-12 education in two of the world's most populous countries, and transform into a heavyweight global provider of digital content driven

79

education products and services."

7th Aug

The Millennium School, Panipat would be part of a countrywide chain of schools leveraging the Millennium Learning System, India's first fully-integrated learning delivery system developed for schools by Educomp."

4,000.00 3,800.00 3,600.00 3,400.00 3,200.00 3,000.00 2,800.00 29- 28- 27- 26- 25Aug- Aug- Aug- Aug- Aug08 08 08 08 08

high low close

*A rise of Rs.417 in a week

3,500.00 3,400.00 3,300.00 3,200.00 3,100.00 3,000.00 2,900.00 22- 21- 20- 19- 18Aug- Aug- Aug- Aug- Aug08 08 08 08 08

high low close

*A fall of Rs.136 in a week

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3,700.00 3,600.00 3,500.00 3,400.00 3,300.00 3,200.00 3,100.00 14- 13- 12- 11- 8Aug- Aug- Aug- Aug- Aug08 08 08 08 08

high low close

*There is no rise or fall in this 5days

3,500.00 3,400.00 3,300.00 3,200.00 3,100.00 3,000.00 2,900.00 7- 6- 5- 4- 1A ug- Aug- A ug- A ug- A ug08 08 08 08 08

high low c los e

*A rise of Rs.134 in a week

81

4,500.00 4,000.00 3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00
29 -A 28 ug -A -0 27 ug 8 -A -0 26 ug 8 -A -0 25 ug 8 -A -0 22 ug 8 -A -0 21 ug 8 -A -0 20 ug 8 -A -0 19 ug 8 -A -0 18 ug 8 -A -0 14 ug 8 -A -0 13 ug 8 -A -0 12 ug 8 -A -0 11 ug 8 -A -0 8 8- ug-0 A 8 7- u gA 08 6- u gA 08 5- u gAu 08 4- gA 08 1- u gAu 08 g08

High Low Close

Resistance level 3600 Support level 3250

July
Date 31-Jul-08 30-Jul-08 29-Jul-08 28-Jul-08 25-Jul-08 24-Jul-08 23-Jul-08 22-Jul-08 21-Jul-08 18-Jul-08 Open 3,152.00 3,001.00 2,890.00 3,017.10 3,300.00 3,575.00 3,102.00 2,922.00 2,859.60 2,820.00 High 3,248.80 3,155.00 3,050.00 3,050.00 3,300.00 3,589.00 3,579.90 3,070.00 2,945.00 2,875.10 Low 3,066.15 3,001.00 2,860.00 2,840.10 2,950.00 3,280.00 3,102.00 2,881.00 2,756.00 2,685.00 Close 3,184.20 3,126.55 2,935.30 2,945.10 2,992.85 3,367.95 3,518.05 3,036.10 2,921.45 2,851.55 Volume 70,300 101,100 93,200 123,800 169,800 69,400 104,000 56,600 38,800 56,200

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17-Jul-08 16-Jul-08 15-Jul-08 14-Jul-08 11-Jul-08 10-Jul-08 9-Jul-08 8-Jul-08 7-Jul-08 4-Jul-08 3-Jul-08 2-Jul-08 1-Jul-08

2,815.00 2,751.45 2,761.00 2,701.00 2,850.00 2,838.00 2,649.90 2,650.00 2,818.90 2,700.00 2,694.00 2,355.00 2,599.70

2,851.45 2,775.00 2,785.00 2,845.00 2,865.00 2,875.00 2,889.00 2,669.00 2,850.00 2,869.00 2,845.00 2,800.00 2,599.70

2,745.00 2,576.00 2,672.00 2,683.00 2,720.00 2,725.00 2,649.90 2,575.00 2,670.00 2,685.00 2,505.00 2,347.00 2,320.00

2,779.80 2,739.10 2,699.60 2,809.75 2,738.40 2,798.95 2,841.75 2,603.45 2,717.50 2,784.60 2,775.95 2,711.60 2,384.00

43,200 98,000 113,100 44,800 62,300 57,300 52,400 29,100 41,100 79,000 88,600 110,000 97,900

News in the month of July

31st July First off the ground, Educomp Tele Education Network (ETEN) CA will deliver high quality training through top faculty to CA aspirants through VSAT enabled 11 July
th

learning centers in cities across India." "Educomp Solutions Limited, which provides technology driven education solutions, in partnership with State Government, plans to bring in 5,000 more government schools under its computer education programme in India

83

4,000.00 3,000.00 2,000.00 1,000.00 0.00 31- 30- 29- 28- 25- 24Jul- Jul- Jul- Jul- Jul- Jul08 08 08 08 08 08 high low close

*A fall of Rs.183 in this week

4,000.00 3,000.00 2,000.00 1,000.00 0.00 23- 22- 21- 18- 17- 16Jul- Jul- Jul- Jul- Jul- Jul08 08 08 08 08 08 high low close

*A rise of Rs.707 in a week

84

3,000.00 2,900.00 2,800.00 2,700.00 2,600.00 2,500.00 2,400.00 15- 14- 11- 10- 9- 8Jul- Jul- Jul- Jul- Jul- Jul08 08 08 08 08 08

high low close

*A rise of Rs.96
3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 7- 4- 3- 2- 1Jul- Jul- Jul- Jul- Jul08 08 08 08 08

high low close

*A rise of Rs.333 in a week

4,000.00 3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00

31 30 -Ju l29 -Ju 08 l 28 -Ju - 08 l 25 -Ju - 08 l24 -Ju 08 l23 -Ju 08 l 22 -Ju - 08 l 21 -Ju - 08 l18 -Ju 08 l17 -Ju 08 l16 -Ju 08 l 15 -Ju - 08 l 14 -Ju - 08 l11 -Ju 08 l10 -Ju 08 -J l- 0 9- u l- 8 J 0 8- ul- 8 J 0 7- ul- 8 J 0 4- ul- 8 J 0 3- ul- 8 J 0 2- ul- 8 J 0 1- ul- 8 Ju 08 l- 0 8

High Close Low

85

Resistance level 3500 Support level 2850

June
Date 30-Jun-08 27-Jun-08 26-Jun-08 25-Jun-08 24-Jun-08 23-Jun-08 20-Jun-08 19-Jun-08 18-Jun-08 17-Jun-08 16-Jun-08 13-Jun-08 12-Jun-08 Open 2,835.00 2,900.00 2,920.00 2,401.00 3,297.70 3,320.00 3,450.05 3,540.00 3,750.00 3,525.00 3,499.00 3,467.00 3,380.00 High 2,835.00 2,940.00 3,057.00 2,949.00 3,310.00 3,390.00 3,479.70 3,575.00 3,750.00 3,710.00 3,572.00 3,510.00 3,500.00 Low 2,569.00 2,810.00 2,900.00 2,401.00 2,931.00 3,200.00 3,300.05 3,425.00 3,590.50 3,520.10 3,478.80 3,405.10 3,348.00 Close 2,587.85 2,840.95 2,958.70 2,878.30 2,988.90 3,308.45 3,311.90 3,443.65 3,610.55 3,675.55 3,530.85 3,450.90 3,459.20 Volume 51,800 31,800 105,000 80,000 56,400 50,100 17,200 12,600 26,100 70,500 15,600 25,400 29,600

86

11-Jun-08 10-Jun-08 6-Jun-08 5-Jun-08 4-Jun-08 3-Jun-08 2-Jun-08

3,385.00 3,385.00 3,540.00 3,650.00 3,775.00 3,800.00 3,975.00

3,525.90 3,435.00 3,640.00 3,695.00 3,819.70 3,849.00 4,065.00

3,385.00 3,292.05 3,456.00 3,445.10 3,625.00 3,750.00 3,860.00

3,448.90 3,372.90 3,497.10 3,495.95 3,653.70 3,793.35 3,870.05

19,100 22,600 25,000 64,600 36,800 29,700 45,900

3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 30272625Jun-08 Jun-08 Jun-08 Jun-08

high low close

*A fall of Rs.291

4,000.00 3,000.00 2,000.00 1,000.00 0.00 24- 23- 20- 19- 18Jun- Jun- Jun- Jun- Jun08 08 08 08 08 high low close

87

*A fall of Rs.622
3,800.00 3,700.00 3,600.00 3,500.00 3,400.00 3,300.00 3,200.00 3,100.00 17- 16- 13- 12- 11Jun- Jun- Jun- Jun- Jun08 08 08 08 08

high low close

*A Rise of Rs.227

4,000.00 3,800.00 3,600.00 3,400.00 3,200.00 3,000.00 106543Jun- Jun- Jun- Jun- Jun08 08 08 08 08

high low close

*A Fall of Rs.421

88

4,500.00 4,000.00 3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00
30 27 Ju n - 26 Ju n 08 - 25 Ju n 08 - 24 Ju n 08 - 23 Ju n 08 - 20 Ju n 08 - 19 Ju n 08 - 18 Ju n 08 - 17 Ju n 08 - 16 Ju n 08 - 13 Ju n 08 - 12 Ju n 08 - 11 Ju n 08 - 10 Ju n 08 -J -08 6- u nJ 0 5- un - 8 J 0 4- un - 8 J 0 3- un - 8 J 0 2- un - 8 Ju 08 n08

High Low Close

Resistance level 3650 Support level 2550

Relation with competitors

Last Price Educomp Sol NIIT Aptech Everonn Systems Edserv Softsyst Software Tech 2,995.00 59.80 195.50 378.85 26.85 11.55 Market Cap. (Rs. cr.) 5,181.60 986.60 909.11 572.84 32.24 15.71 Sales Turnover 496.72 467.38 116.43 91.23 45.76 Net Profit 128.23 32.77 4.75 14.05 3.20 Total Assets 654.08 445.35 146.57 140.63 8.07 33.88

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Changes in price level from 06-09

Month January06 January07 December07 January08 October08 January09 April09 May09 Price(Rs.) 125 1004 4310 5678 1525 1784 2486 2823

Price Fluctuations within years

Price increased from Rs.125 in jan06 to Rs.5678 in jan08 , it was best recommended to buy the shares. In the slowdown period of 2008, share price decreased from Rs.5678 to Rs.1525. Share price seems to rise in 2009 from Rs.1784 in jan09 to Rs.2486 in Apr09 There is an rise from april09 Rs.2486 to may09 Rs.2823

90

Price(Rs.) 6000 5000 4000 3000 2000 1000 0

Ja nu a Ja ry nu 0 6 D ec ary em 0 7 be Ja r nu 07 ar O ct y08 ob Ja er0 nu 8 ar y 09 A pr il 09

Price(Rs.)

Predictions
In the coming week, resistance level will be between Rs.2900 2950. Support level will be between Rs.2750-2850. In the coming month, resistance level will be Rs.3100-3050. Support level will be Rs.2800-2850.

Reasons

91

Results are out on 30th April, which was very good for the company. It showed increase in its net profit. BSE Sensex is rising so share price will rise as Beta is 1.44. GDP rate is 6.7 which is good for the economy compare to other countries. Congress has won the election so it will bring stability in the economy.

92

Chapter 4 Conclusion

Conclusion

93

The stock market is one of the most important sources for companies to raise money. This allows businesses to be publicly traded, or raise additional capital for expansion by selling shares of ownership of the company in a public market. The liquidity that an exchange provides affords investors the ability to quickly and easily sell securities. This is an attractive feature of investing in stocks, compared to other less liquid investments such as real estate. History has shown that the price of shares and other assets is an important part of the dynamics of economic activity, and can influence or be an indicator of social mood. An economy where the stock market is on the rise is considered to be an up coming economy. In fact, the stock market is often considered the primary indicator of a country's economic strength and development. Rising share prices, for instance, tend to be associated with increased business investment and vice versa. Share prices also affect the wealth of households and their consumption. Therefore, central banks tend to keep an eye on the control and behavior of the stock market and, in general, on the smooth operation of financial system functions. Financial stability is the raison d'tre of central banks.

94

Exchanges also act as the clearinghouse for each transaction, meaning that they collect and deliver the shares, and guarantee payment to the seller of a security. This eliminates the risk to an individual buyer or seller that the counterparty could default on the transaction. The smooth functioning of all these activities facilitates economic growth in that lower costs and enterprise risks promote the production of goods and services as well as employment. In this way the financial system contributes to increased prosperity.

Research works help us to be update every-time on every field. The tools and techniques used to predict the price is based on the observations. Resistance and Support level help to predict the price the share. News are related for the movements, so its necessary to have watch on the news.

95

Chapter 5 Bibliography

Bibliography
Newspapers

96

The Economics Times. Business Standard Times of India. Hindustan Times.

URLs www.rediff.com www.bseindia.com www.livebombaystockexchange.blogspot.com. www.reuters.com www.investopedia.com www.nseguide.com www.yahoofinance.com www.googlefinance.com www.iris.com www.gulfbullssecurities.com

Books I.M. Pandey, Financial Management. K. Srivastav, Financial Management.

97