Calculations of the

Scripts listed on NSE

Indian Financial System

Justin
 Chapter 1
Introduction to Company

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 1. State Bank of India
(Industry: Banks – Public Sector)
Overview

State Bank of India is the largest state-owned banking and financial services company in India.
The Bank provides banking services to the customer. In addition to the banking services, the
Bank through their subsidiaries, provides a range of financial services, which include life
insurance, merchant banking, mutual funds, credit card, factoring, security trading, pension fund
management and primary dealership in the money market. The Bank operates in four business
segments, namely Treasury, Corporate/ Wholesale Banking, Retail Banking and Other Banking
Business. The Treasury segment includes the investment portfolio and trading in foreign
exchange contracts and derivative contracts. The Corporate/ Wholesale Banking segment
comprises the lending activities of Corporate Accounts Group, Mid Corporate Accounts Group
and Stressed Assets Management Group. The Retail Banking segment consists of branches in
National Banking Group, which primarily includes personal banking activities, including lending
activities to corporate customers having banking relations with branches in the National Banking
Group.

SBI provides a range of banking products through their vast network of branches in India and
overseas, including products aimed at NRIs. The State Bank Group, with over 16,000 branches,
has the largest banking branch network in India. The State bank of India is the 10th most reputed
company in the world according to Forbes. The bank has 131 overseas offices spread over 32
countries. They have branches of the parent in Colombo, Dhaka, Frankfurt, Hong Kong,
Johannesburg, London and environs, Los Angeles, Male in the Maldives, Muscat, New York,
Osaka, Sydney, and Tokyo. They have offshore banking units in the Bahamas, Bahrain, and
Singapore, and representative offices in Bhutan and Cape Town.

State Bank of India was incorporated in the year 1955. The Bank traces their ancestry to British
India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta,
making them the oldest commercial bank in the Indian Sub-continent. The Government of India
nationalized the Imperial Bank of India in the year 1955, with the Reserve Bank of India taking a
60% stake, and name was changed to State Bank of India.

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In the year 2001, the SBI Life Insurance Company was started by the Bank. They are the only
Bank that have been permitted 74% stake in the insurance business. The Bank's insurance
subsidiary 'SBI Life Insurance Company' is a joint venture with Cardif S.A in which Cardif holds
26% of the stake. During the year 2005-06, the bank introduced 'SBI e-tax' an online tax
payments facility for direct and indirect tax payment. They also launched the centralized pension
processing. The Bank made a partnership with Tata Consultancy Services for setup C-Edg
Technologies and consulting services to the banking, financial services and insurance industry.
The bank was noted as 'The most preferred bank' in a survey by TV 18 in association with AC
Nielsen-ORG Marg. Also, the Bank was voted as 'The most preferred housing loan provider' in
AWAAZ consumer awards for the year 2006.

In the customer loyalty survey 2006-07 conducted by 'Business World', the Bank was ranked
number one in all parameters of customer satisfaction, service orientation, customer care/ call
center, customer loyalty and home loans. SBI Funds was judged 'Mutual fund of the year' by
CNBC/TV-18/CRISL. The Bank introduced new products and services such as web-based
remittance, instant fund transfer and online-trading and comprehensive cash management.

During the year 2007-08, the Bank launched 965 branches all over the country. They inaugurated
a new state-of-the art Dealing Room with online connectivity to all active forex intensive
Branches at Corporate Centre in Mumbai. They launched a new product, Construction
Equipment Loan to cater to construction Companies. Also, they introduced new products such as
SBI Reverse Mortgage Loan and SBI Home Plus in the areas of Home Loans.

During the year, the RBI transferred their entire shareholding in the Bank representing 59.73% of
the issued capital of the Bank to the Government of India. The Bank acquired 92.03% of equity
of Global Trade Finance Ltd. Consequently, GTFL became a subsidiary of the Bank. They
signed a MOU with the Indian railways for installing ATMs at 682 railway stations. In March
2008, the Bank opened their 10,000th branch and became only the second bank in the world to
have more than 10,000 branches after China's ICBC. During the year 2008-09, the company
launched Import factoring, a new product in association with SBI Factors & Commercial
Services Ltd. They increased the number of branches for retail sale of gold coins from 250 to
518. Also, they re-launched Gold Deposit Scheme at 50 branches to mobilize gold from domestic
market for deployment as metal loans to jewelers.
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During the year, the Bank opened their 11,111th Branch at Sonapur (Kamrup District) in Assam.
They introduced three new products viz., SBI Special Home Loan, SBI Happy Home Loan and
SBI Lifestyle in response to the stimulus package announced by the Government of India. Also,
they entered into an exclusive arrangement with TATA Motors for handling the booking process
of TATA 'Nano' cars. During the year, the Bank launched on their web-site an on-line
application form for registering Auto Loan enquiries and expeditiously monitoring and
converting these leads into Auto Loans. Also, they launched 'e-invest' for the ASBA
(applications supported by blocked accounts) to aid investors for their equity subscriptions, IPO
and Rights applications.

During the year, the Bank set up a custodial services company namely SBI Custodial Services
Pvt. Ltd., in joint venture with Societe Generale, France. They signed letter of intent for setting
up of Joint Venture Company for undertaking General Insurance Business. Also, they divested
10% equity stake in its wholly owned subsidiary SBI Pension Fund Pvt. Ltd at cost in favour of
its subsidiaries. In October 2008, the Bank signed an MoU with State General Reserve Fund
(SGRF) of Oman, for a general purpose private equity fund.

During the year, State Bank of Saurashtra (SBS), a wholly owned subsidiary of the Bank,
amalgamated with the Bank with effect from August 13, 2008. They signed a joint venture
agreement with Insurance Australia Group for undertaking General Insurance business. Also,
they signed a joint venture agreement with Macquarie Capital Group, Australia and IFC,
Washington for setting up an Infrastructure fund of USD 3 billion for investing in various
infrastructure projects in India.

During the year 2009-10, the Bank opened 1,049 branches, out of which branches were opened
in metro and urban areas with a view to increase the Bank's reach and be more accessible to
customers. In July 2009, SBI introduced 'SBI Loan to Affluent Pensioners' enabling the
government pensioners to avail personal loans upto Rs 3 lakh. During the year, the Bank
designed a special package, the Defence Salary Package, for personnel of the three Armed
Forces i.e. the Army, Navy and Air Force who maintain their Salary accounts with them. As of
March 2010, the Bank had 12,496 branches and 21,485 Group ATMs. In June 2009, the
company increased their shareholding in Nepal SBI Bank Ltd to 55.02% and thus Nepal SBI
Bank Ltd became a subsidiary of the Bank with effect from June 14, 2009.
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In May 2010, the Bank selected consortium of Elavon Incorporation, USA and Visa
International, USA as their joint venture (JV) partner for Merchant Acquiring Business. They set
up a wholly owned subsidiary, namely SBI Payment Services Pvt Ltd for conducting Merchant
Acquiring Business. In August 2010, State Bank of Indore was amalgamated with the Bank as
per the scheme of amalgamation approved by the Central Board.

Reason behind Selecting Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

State Bank of India 86960.5
Punjab National Bank 25032.2
Canara Bank 21609.9
Bank of India 20494.6
Total Sales (Rs. Cr.)
336302.5
(Banks – Public Sector)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the State Bank of India’s contribution is highest towards the same. So I have
selected State Bank of India.

2. HSIL Ltd

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(Industry: Ceramics – Sanitary ware / others)

Overview

HSIL Ltd is the largest Indian sanitary ware manufacturer. The company is engaged in the
manufacture and distribution of sanitary ware and glass containers primarily in India. They are
recognized among the top 300 companies in India, while rated amongst the best 100 small &
medium sized companies in the world by the Forbes Magazine. The company is the first
company in the Building Materials Industry to be awarded the prestigious ISO 9001, 14001 and
OHSAS 18001 certificate.

The company operates in two divisions, namely Building Products and Container Glass. The
Building Products provides a range of building products comprising sanitary ware, such as Water
closets, wash basins, pedestals, squatting pans, urinals, and bidets; accessories, including PVC
cisterns and fittings/seat covers; and faucets consisting of showers, kitchen faucets, and
bathroom faucets. The Container Glass division provides various glass products to beverage,
beer, food, pharmaceuticals, liquor, and chemical industries.

The company is headquartered in Gurgaon with four manufacturing units, one located in
Bahadurgarh, Haryana, while the other three are located in Andhra Pradesh. The company also
possesses six regional offices and 18 depots. Their subsidiaries include AGI Glass pack Ltd,
Hind ware Home Retail Pvt Ltd, HSIL Associates Ltd and Halis International Ltd.

HSIL Ltd was incorporated in the year 1960 as Hindustan Twyfords Ltd by the Somany family
(promoter group) in collaboration with Twyfords Ltd, UK. The company was formed to
introduce vitreous china ceramic sanitary ware in India. In the year 1962, the company
commissioned sanitary ware plant at Bahadurgarh. In the year 1969, the company changed their
name from Hindustan Twyfords Ltd to Hindustan Sanitary ware & Industries Ltd.

In the year 1981, the company diversified into the manufacture of glass containers through the
acquisition of Associated Glass Industries Ltd. In the year 1989, they acquired Krishna Ceramics
Ltd, manufacturers of Sanitaryware at Bibinagar in Andhra Pradesh. In the year 1999, they
installed first state of the art open flame tunnel kiln from UK. In the year 1999, the company
acquired Raasi Ceramics at Hyderabad to further strengthen their market share in the South

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India. In the year 2003, they singed a strategic partnership with Sanitec of Europe to bring in
their largest selling European brand 'Keramag' to India. Also, during the year, the company
received OHSAS 18001: 1999 certifications and in the year 2004, the company was awarded
'Business Superbrand' by the Super Brand Council.

During the year 2004-05, the company introduced several new products and launched new colour
shades to meet emerging demand. They launched the 'Hindware' faucets in select Indian
locations. The company made a lateral extension by entering the kitchen segment by launching
stainless steel kitchen sinks. In September 2004, the Container glass division installed a state-of-
the-art, energy-efficient and environment-friendly furnace that has the capability to run
production in all three colors - flint, amber and green. During the year 2005-06, the company
introduced several new products in the 'Art' and 'Italian' Collection and entered into an
outsourced manufacturing relationship for a European sanitaryware manufacturer. They
increased the manufacturing of their Bibinagar plant by 50% to 18,000 tpa.

During the year 2006-07, the company made their investment in two 1.25 MW wind mills in
Maharashtra. They signed strategic partnership with 'Teuco' the world leaders in Wellness
Products to offer complete range of wellness products in India. They received 'Mera Brand
Award' during the year.

During the year 2007-08, the company through their subsidiary, Hindware Home Retail Pvt Ltd,
forayed into the retail sector. They launched Home Interior Fashion Mega stores providing
speciality home interior solutions under the EVOK Brand. They opened their first EVOK store
Faridabad, Haryana.

In September 4, 2008, the company formed a wholly owned subsidiary company namely HSIL
Associated Ltd in India and in January 14, 2009, they formed another wholly owned subsidiary
company namely, Halis International Ltd in Mauritius. In the year 2009, the company set up
second green field container glass factory at Bhongir, Andhra Pradesh with a production capacity
of 425 tonnes per day. They opened their first brand store 'Hindware Lacasa' at Cochin. They
opened their second brand store at Mumbai. Also, they opened EVOK stores at Gurgaon and
Ghaziabad.

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In March 2009, the name of the company was changed to HSIL Ltd as the company is known
and recognized by their abbreviated name 'HSIL' among the Company's numerous dealers, sub
dealers, distributors, bankers, financial institutions and the ultimate users/consumers. In the year
2010, the company acquired the faucet business and operations of Havells India Ltd, makers of
the Crabtree brand of bath fittings.

Reason behind Selecting Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

HSIL 788.7
Kajaria Ceramics 735.5
Somany Ceramics 536.8
Nitco 403.0
Total Sales (Rs. Cr.)
(Ceramics – Sanitary ware / 3409.8
others)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the HSIL’s contribution is highest towards the same. So I have selected HSIL.

3. ITC Ltd

(Industry: Cigarettes)

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Overview

ITC is one of India's foremost private sector company widely perceived to be dedicatedly nation-
oriented. The ancient Imperial Tobacco Company of India Limited is ITC Limited today, which
was incorporated in August 24, 1910. It was a humble story; the company started its life in one
leased office situated in Kolkata. The growth after long way in its journey, ITC posted its face as
sector leader in its traditional businesses and spread over more than 60 locations across India.
ITC has commitment with the business segments of Cigarettes, Hotels, Paperboards & Specialty
Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology,
Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCG products. The
Company's ownership progressively indianised and the name of the Company was changed to
I.T.C. Limited in 1974. As a strategic backward integration for ITC's Cigarettes business, the
Packaging & Printing Business was set up in 1925. It is today India's most sophisticated
packaging house. Spanning the network the company has 11 Subsidiaries, 3 JV Companies and 2
Associate Companies.

Though the first six decades of the company's existence were primarily devoted to the growth
and consolidation of the Cigarettes and Leaf Tobacco businesses, in 1975 the company launched
its Hotels business with the acquisition of a hotel in Chennai, which was rechristened 'ITC-
Welcomgroup Hotel Chola'. Since then ITC's Hotels business has grown to occupy a position of
leadership, with over 70 owned and managed properties spread across India. The next business
area of the company was made with Paperboards business; in 1979 ITC entered into the same
business by promoting ITC Bhadrachalam Paperboards Limited. A new company was
incorporated under a joint venture agreement signed between the company and Gujarat Industrial
Investment Corporation. Which was set up covered 144-rooms in hotel at Vadodara known as
Welcomegroup Vadodara in the year 1983? ITC set up Surya Tobacco Co. in Nepal as an Indo-
Nepal and British joint venture in 1985. ITC Filtrona Ltd. A 50:50 joint venture company
promoted by the company and Filtrona International Ltd. UK. The new company manufactures
high technology filters for the cigarette industry under the name of ITC Filtrona Ltd during the
period of 1986. During the year 1989 the company entered into a foreign collaboration
agreement with Liqui Box Corporation of U.S.A. for manufacture of Plastic bags dispensing
valves and filments, Industrial Machinery for use with packaging and filling system for

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manufacture at the company's industrial unit at Thiruvottiyur in Tamil Nadu. In 1990, ITC
acquired Tribeni Tissues Limited, a Specialty paper manufacturing company and a major
supplier of tissue paper to the cigarette industry. The merged entity was named the Tribeni
Tissues Division (TTD) and also in the same year 1990, leveraging its Agri-sourcing
competency, ITC set up the Agri Business Division for export of Agri-commodities to
worldwide. ITC entered into an agreement with MISR Import & Export Co. A.R.E Cairo, Egypt
in 1991 for the export of tea to Egypt on commission basis. On April of 1992, ITC Global
Holdings Pte Ltd was incorporated in Singapore a wholly owned trading subsidiary of the
company and during the same period another one wholly owned subsidiary the ITC Infotech Ltd
was incorporated in UK. In October 1993 the Company issued 45,00,000 Global Depository
Receipts. Company's Associated, ITC Classic Finance Ltd formed the financial service division.
In 1994 ITC classic finance entered into arrangement for launching mutual funds ITC Classic
Finance had set up a company to enable operation in real estate and also a home finance Co. to
provide finance to a range of buyers in the Commercial/Home Property markets.

During the year 1995, a new company ITC Classic Threadneedls AMC, a joint venture between
ITC Classic Finance Ltd. and Threadneedls Asset Management was formed to launch a series of
Mutual Funds. ITC Ltd has undertaken a comprehensive exercise to restructure all its wholly
owned subsidiaries to align them with the four thrust areas viz., tobacco, hotels, paper and
paperboards and printing and packaging in 1998. ITC received Honorary Fellowship from the
All India Management Association in 1998. The Company has launched a project namely e-
Choupal in Bhopal to Web-enable farmers to make an agricultural e-trade in the year 2000 with
Soya farmers in Madhya Pradesh. ITC Infotech Ltd, the UK-based, wholly-owned subsidiary of
the company, and Compaq Computer (I) Pvt. Ltd. signed a MoU aimed at exploring business
opportunities for deploying e-enabled solutions. ITC Ltd entered into retailing business by
launched branded leisurewear apparels as part of its diversification strategy into new areas and
also having carved a niche for itself by launching the first branded lifestyle apparel, Wills Sport,
in Delhi in July 2000, the Lifestyle Retailing Business Division of ITC Limited has now big
plans up its sleeve. Ansal Hotels Limited became a subsidiary of ITC Hotels Limited from July
of the same year 2000. The full stops in the Company's name were removed effective September
18, 2001. The Company now stands rechristened as ITC Limited.

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The lot of major actions was made in the company during the year 2002. Bhadrachalam
Paperboards amalgamated with the company in March of 2002 and became a Division of the
company, Bhadrachalam Paperboards Division. In November 2002, this division merged with
the company's Tribeni Tissues Division to form the Paperboards & Specialty Papers Division to
harness strategic and operational synergies. In August 2002, Surya Tobacco became a subsidiary
of ITC Limited and its name was changed to Surya Nepal Private Limited (Surya Nepal). In
2004, ITC acquired the paperboard manufacturing facility of BILT Industrial Packaging Co. Ltd
(BIPCO), near Coimbatore, Tamil Nadu. The Kovai Unit allows ITC to improve customer
service with reduced lead-time and a wider product range. ITC's first rural mall, christened
'Choupal Saagar' was inaugurated in August 2004 at Sehore. On the rural retail front, 21
'Choupal Saagars' are now operational in the 3 states of Madhya Pradesh, Maharashtra and Uttar
Pradesh. Acquired paperboards business of M/s Bilt Industrial Packaging Company Ltd
including its 65,000 MT per annum manufacturing facility at Thekkampatty Village, Coimbatore
District of Tamil Nadu in 2004. In the year 2005, ITC Ltd signs a MoU with Tripura
Government for a bamboo development programme. During the year 2006, ITC forges alliance
with Tilda for DNA-tested basmati and ties-up with Marubeni for food biz. Inducted into the
`Hall of Pride' by the 93rd Indian Science Congress for the year 2006. ITC acquired Australian
Agri-biotech Company during the year 2007. The Annual FICCI Outstanding Vision Corporate
Triple Impact Award 2007 was conferred to ITC Limited for its invaluable contribution to the
triple bottom line benchmarks of building economic, social and natural capital for the nation and
also SAM/SPG Sustainability Leadership Award conferred at the International Sustainability
Leadership Symposium, Zurich. As of March 2008, ITC WelcomGroup is all set to launch, what
is billed as Asia's largest spa in Agra called Kaya Kalp - The Royal Spa, at Hotel Mughal in Agra
across over 99,000 sq ft.

ITC is rated among the World's Best Big Companies, Asia's 'Fab 50' and the World's Most
Reputable Companies by Forbes magazine, among India's Most Respected Companies by
Business World and among India's Most Valuable Companies by Business Today.

ITC also ranks among India's top 10 `Most Valuable (Company) Brands', in a study conducted
by Brand Finance and published by the Economic Times. The Company continuously endeavors
to enhance its wealth generating capabilities in a globalizing environment.

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Reason behind Selected Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

ITC 18153.2
Godfrey Phillips 1383.9
VST Inds. 472.2
Golden Tobacco 89.3
Total Sales (Rs. Cr.)
20098.5
(Cigarettes)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the ITC’s contribution is highest towards the same. So I have selected ITC.

4. Wipro

(Industry: Software – Large)

Overview

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Wipro InfoTech is the leading strategic IT partner for companies across India and Middle East -
offering integrated IT solutions. We plan, deploy, sustain and maintain your IT lifecycle through
our total outsourcing, consulting services, business solutions and professional services. Wipro
InfoTech helps you drive momentum in your organisation - no matter what domain you are in.
Backed by our strong quality processes and rich experience managing global clients across
various business verticals, we align IT strategies to your business goals. Along with our best of
breed technology partners, Wipro InfoTech also helps you with your hardware and IT
infrastructure needs.

Wipro InfoTech is a part of USD 5 billion Wipro Limited (NYSE:WIT) with a market
capitalization of USD 24 billion. The various accreditations that we have achieved for every
service we offer reflect our commitment towards quality assurance. Wipro InfoTech was the first
global software company to achieve Level 5 SEI-CMM, the world's first IT Company to achieve
Six Sigma, as well as the world's first company to attain Level 5 PCMM. Currently, we have 13
regional offices in India besides offices in the UAE, Bahrain, Egypt and KSA.

In today's world where IT infrastructure plays a key role in determining the success of your
business organisation, Wipro InfoTech helps you derive maximum value from your IT
investments. We offer our clients the full array of IT lifecycle services. From technology
optimisation to mitigating risks, there is a constant demand to evaluate, deploy and manage
flexible, responsive and economical solutions. Outsourcing non-core operations can help you
transform your business into a leaner and smarter organisation with greater adaptability to
changing economic and business trends.

In a maturing outsourcing market where both clients and vendors are becoming increasingly
adept at understanding the fundamentals needed to develop a lasting relationship, Wipro Infotech
offers you a partnership that goes beyond merely providing a solution.

Spurred on by the goal of creating new business processes and innovative models to help our
customers gain new levels of efficiency, differentiation, and flexibility, Wipro InfoTech offers
you Total Outsourcing Services (TOS). This powerful service offering ensures dynamic solutions
that offer total process visibility resulting in pre-emptive solving of problems or issues even
before they can manifest and affect your business performance.

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Our solutions eschew the immature model of offering ad hoc solutions that dwell on pricing,
labour arbitrage and granular level contracts within tower groups to solutions that tend towards
being a strategic corporate initiative. This ensures delivery of results against service levels, larger
scope relationships that enable service providers to respond quickly and flexibly and transfer of
day-to-day responsibilities.

At Wipro InfoTech we also offer consulting services as part of our advisory expertise across
various domains. Our various consulting practices enable you to achieve execution excellence to
help drive your business momentum despite challenges arising from globalization and the
dynamics of customer loyalty. Optimizing IT resources through our services, we build a strong
base to empower your technology operations. This includes identifying pain areas, deploying the
right resources to upgrade or solve them, implementing strategic business and IT tools, as well as
managing the project lifecycle. All of these are achieved through our focused quality that
complies with ISO 9000, Six Sigma, SEI CMM & PCMM level 5 standards and processes.

With over two decades of experience Wipro InfoTech has a commanding lead in leveraging
critical IT services for clients in India and Middle East. Our services are further backed with
strategic partnerships with some of the top global technology corporations - Oracle, Microsoft,
SAP and IBM among others. Our service offerings include:

Consulting: Strategic Cost Reduction, Business Transformation, Security Governance, Strategy,

E-Governance

Business Solutions: Enterprise Applications, Solutions for Fast Emerging Businesses,

Application Development and Portals, Application Maintenance, Third Party Testing, Data
Warehousing/Business Intelligence, Point Solutions

Professional Services: System Integration, Availability Services, Managed Services

The IT infrastructure in your organisation needs to be reliable, scalable, flexible and able to
withstand the pressures of day-to-day activities and business processes. For this you need
mission-critical solutions and IT products that can power your business to achieve quicker and
efficient results. With over two decades of experience delivering quality IT solutions and
products through strategic services, Wipro InfoTech is perfectly placed to handle your

15
technology requirements. From PCs, laptops and servers to critical software product
requirements, we deliver products that reflect the latest global quality standards. Our customised
solutions based on premier IT product platforms complement your business requirements. Wipro
InfoTech product delivery capabilities are driven by strong alliances with some of the world's
leading technology corporations. Our strategic partnerships including IBM, Cisco, Microsoft and
Sun among others, have been in place for more than a decade and this is a reflection of the
constant quality we deliver to your business.

We keep our product lines updated with the latest innovations in the respective segments. Our
end-to-end service and support across all solutions we deliver is an assurance of our total
commitment to attend to your immediate IT needs. Wipro Infotech offers your business the
opportunity to take advantage of our products to drive your business momentum with a strong IT
environment.

From adapting services and products to evolving specifics - we have driven past the crossroads.
At Wipro Infotech, today, we have the core competency to not only accommodate domain-
specific requisites but also to steer them forward. Your IT infrastructure is not limited to your
business requirement; with Wipro Infotech it is an asset that will help maximise ROI while
driving operational costs and inefficiencies down.

Our competency comes from the recognition that across domains, the challenges and priorities
are diverse. Leveraging our experience in working with your domain, we put together solutions
that work best for you. At Wipro Infotech, we believe that the flexibility to accommodate and
innovate comes from expertise, nothing less.

With dedicated industry experts, Wipro Infotech has the capability to function as your complete
strategic IT partner with our premium total outsourcing services. Our service offerings range
from consulting services, business solutions to professional services. Our products range (both
hardware and software) too are geared to achieve domain-specific functionality, guaranteeing a
smooth drive towards your business targets.

Our expertise, currently, extends to the following domains:

 Banking and Finance

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  Government
 Healthcare
 Telecom
 Enterprise

With over two decades of experience in meeting the IT needs of enterprises, Wipro Infotech has
gained a name for offering comprehensive IT solutions that encompass best-of-breed products,
best-practice IT services and best-in-class enterprise solutions.

Building on this experience, we've been able to meet greater challenges and evolve with the
changing business scenarios across the world.

In order to provide you with as much comprehensive, up-to-date information as possible, we've
put together some pages that will give you information on our company financials, press
releases, and the news & happenings at Wipro InfoTech.

Reason behind Selected Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

Wipro 23177.6
TCS 23044.5
Infosys Tech. 21140.0
Satyam Computer 8137.3
Total Sales (Rs. Cr.)
93185.0
(Software – Large)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the Wipro’s contribution is highest towards the same. So I have selected Wipro.

5. Indian Hotels Co Ltd

(Industry: Hotels – Large)

Overview

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Jamsetji N Tata initiated an element of Tata group; The Indian Hotels Company Limited was
incorporated in the year of 1902. The company and its subordinates are communally known as
Taj Hotels Resorts and Palaces, is one of Asia's prime and most excellent hotel company in
hospitality sector. The Taj Mahal Palace Hotel, Bombay was started in the year 1903, which was
the company's first property. IHCL covers 52 Destinations, 12 Countries, 5 Continents, 77
Hotels, 7 Authentic Palaces, 12 Resorts & SPAs, 3 Personal Jets and Luxury Yachts out of this
the company have 17 international hotels in the Maldives, Mauritius, Malaysia, United Kingdom,
United States of America, Bhutan, Sri Lanka, Africa, the Middle East and Australia. Business
divisions of the company are divided into three categories, the Luxury Division, Business Hotel
Division and Leisure Division. The Taj played an important role in launching several of India's
key tourist destinations. An innovator in dining, Taj was the first to introduce Sichuan, Thai,
Italian, Mexican, and Californian cuisine into the country.

As early as 1974, the Taj opened India's first international beach resort-Fort Aguada Beach
Resort in Goa. During the period 1978-82: Taj launched in Delhi with its luxury hotel - Taj
Mahal Hotel and then prepared India for the Asian Games by setting up Taj Palace, Delhi with
the largest convention centre in the country. In the year of 1982, Taj ascertained an attendance in
the Western Hemisphere with the historic St. James Court Hotel near Buckingham Palace,
London. Well before these destinations became world renown for their beauty, Taj expanded to
Kerala and Sri Lanka during 1984-92. In the year 2000, fused its position as the largest chain in
India with hotels in Ahmedabad and Hyderabad, the latter city being a joint venture by the way
of GVK Hotels resulted in a dominant position in the market for premium and luxury hotel
rooms. In 2001-02, the company hived off its air catering business to a new joint venture
company namely Taj SATS Air Catering by relationship with Singapore Airport Terminal
Services (SATS). As on 2002 the new Taj Exotica Resort & Spa, Maldives, within six months of
its launch, was awarded the title of "The Best Resort in the World" in the first ever Harpers and
Queen Travel Awards and in September of the same year the company along with ICICI Trustee
Services (I-Ventures) has acquired Lokhandwala Hotel's (LHL), Regent Hotel at Bandra in
Mumbai for a total consideration of Rs 452 crore.

The company has originated Taj Wellingtone Mews Luxury Residences located in Mumbai with
80 serviced apartments in the year 2004, in same year the company has launched 'Smart Basics'

18
concept, indiOne, at Bangalore through Roots Corporation Ltd, its wholly owned subsidiary and
also launched its exclusively developed two brands viz the high end 'Jiva Grande Spa' and the
smaller `Jiva Spa' traditional Indian ayurvedic & yogic systems, set in internationally
contemporary ambience. During the year 2005-06 IHCL entered into its third marketing alliance.
The first such alliance was occurred with Raffles Hotels and Resorts encompassing 14 Taj
Luxury Hotels and 15 Raffle Hotels. The second alliances were made with Shilla Hotels and
Resorts, Korea and the third marketing alliance was made with Silversea Cruises, European
Cruise Company in the year 2006-07, also the company tied up with Qantas Airline for frequent
flier loyalty program. The Taj brand campaign was launched in the US market in January 2007,
the campaign has two distinct elements namely the `Perspectives' and the `Portraits'.

Asia Pacific Hotels Ltd, Taj Lands End Ltd (subsidiary) and Indian Resorts Hotels Ltd, Gateway
Hotels & Gateway Resorts Ltd, Kuteeram Resorts Private Ltd (associates) were merged with the
company. IHCL acquired the erstwhile Ritz Carlton, Boston through an outright purchase and
completed the acquisition of the Campton Place Hotel in San Francisco in April 2007. The
company concentrates on its expansion of field; hence its key projects in different areas are
budding in speedy. Taj Hotels Resorts & Palaces Winner of the Selling Long Haul Travel
Awards 2007, Indian Hotels Company Ltd received the CNBC TV 18 International Travel
Award for the Outstanding Exporter of the Year 2007, in the Travel Tourism & Hospitality
Category and also Winner of the inaugural 'Genius of the Web 2007' award given by CNBC-
Web 18 in association with Frost & Sullivan for the Best Hotel Website in India. In the year
2008, Taj West End awarded best eco- friendly hotel by the department of tourism, Taj
Residency was awarded the best hotel in the five-star category, being the highest foreign
exchange earner in the country with the maximum number of tourist arrivals and the Gateway
hotel on Residency Road was awarded the best hotel in the four star category.

IHCL plans to integrate environment management in all its business areas as a part of EARTH
(Environment Awareness and Renewal at Taj Hotels). EARTH is a company-wide movement to
reinstate its vision and efforts on environment management in all its hotels.

Reason behind Selected Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

19
 Indian Hotels 1408.9
EIH 774.1
Asian Hotels 641.9
Mahindra Holiday 468.8
Total Sales (Rs. Cr.)
5784.6
(Hotels - Large)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the Indian Hotel’s contribution is highest towards the same. So I have selected
Indian Hotels.

6. Bata India Ltd

(Industry: Leather Footwear)

Overview

Bata India Ltd is the largest footwear retailer and the leader in the footwear industry in India.
The company is engaged in the business of manufacturing and trading of footwear and non

20
footwear items through their retail and wholesale. The company is having the widest retail
network with 1250 stores across the country. Their product range encompasses classic shoes
such as Ambassador for Men and comfort shoes such as Comfit for ladies, as well as a more
trendy collection for ladies in the Marie Claire range and a sporty fashion collection for young
adults in the North Star range. They are having their production facilities at Batanagar in West
Bengal, Patna, Hathidah in Bihar, Faridabad in Haryana, Bangalore in Karnataka and Hosur in
Tamilnadu.

The company was incorporated in the year 1931 as Bata Shoe Company Pvt Ltd in konngar,
West Bengal, which was then shifted to Batanagar. Batanagar was the first manufacturing
facility in the Indian shoe industry to receive the ISO 9001 certification. The Company went
public in 1973. They changed their name to Bata India Ltd. Over the years, Bata India has
established a leadership position in the footwear industry and is easily the most trusted name in
branded footwear.

The Company has entered into an agreement with Bata Ltd of Toronto, Canada for supply of
technical know-how and services such as Footwear technology and design, brand development,
product development, retailing and information systems for a period of ten years from January 1,
2001.

The company bagged the Retailer of the year award for the year 2006 in the footwear category as
a part of the Reid and Taylor Award for Retail Excellence which was presented during the Indian
Retail Summit 2006. They received the country's most coveted Retail Award at the 4th Images
Retail Awards (IRA) 2007.

Bata was honoured with Most Admired Brand of the year 2006-07 in Footwear category. They
have been rated as one of the Top 10 super brands in India and awarded Super Brands Award on
April 12 2007. In February 21, 2008, they have been given AMITY Corporate Excellence Award
2008. This award has been given for Bata's excellent performance and retail growth during 2007.

The company has entered into a joint development agreement with Calcutta Metropolitan Group
Ltd for developing around 262 acres of land in Batanagar. The company has formed a special
purpose vehicle called Riverbank Holdings Pvt Ltd. The development of 262 acres has been split

21
into two parts, IT SEZ for 25 acres developed by Riverbank Holdings Pvt Ltd and the remaining
237 acres will be done by the new company Riverbank Developers Pvt Ltd.

Reason behind Selected Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

Bata India 1096.0
Relaxo Footwear 553.7
Crew B.O.S.Prod. 444.3
Mirza International 378.9
Total Sales (Rs. Cr.)
3126.9
(Leather Footwear)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the Bata India’s contribution is highest towards the same. So I have selected Bata
India.

7. Oil and Natural Gas Corporation Ltd

(Industry: Oil Exploration / Allied Service)

Overview

More than half century survival in oil and gas industry is a record of work by Oil and Natural
Gas Corporation Limited (ONGC). It was originated in the year of 1956 as a private sector
company. Later, in the year 1993 the company was came to known as Public Sector Company.
ONGC's habitual activities deals with exploration, development and production of Crude Oil,
Natural Gas, LPG and some other value added petroleum products such as NGL, C2-C3,
22
Aromatic Rich Naphtha and Kerosene. The company going along with two of its folds namely
ONGC Videsh Limited (OVL) and Manglore Refinery & Petrochemicals Limited (MRPL) and
ten of Joint Ventures/Associates. ONGC's Basins are totally seven in numbers, Western Offshore
Basin (Mumbai & Baroda), KG Basin (Rajamundary), Cauvery Basin (Chennai), Assam &
Assam-Arakan Basin (Jorhat), CBM-BPM Basin (Kolkata) and Forntier Basin (Dehradun) and
ONGC has two plants situated in Uran and Hazira. The company covers five regions such as
Mumbai, Baroda, Nazira, Chennai and Kolkata and also ONGC running eleven institutes for
different specialisation in different locations.

During March 1999, ONGC, Indian Oil Corporation (IOC) and Gas Authority of India Limited
(GAIL) both of three agreed to have cross holding in each other's stock to pave the way for
Long-term strategic alliance amongst themselves for the domestic and overseas business
opportunities in the energy value chain. The ONGIO International Pvt Ltd was incorporated in
the year 2001 as 50:50 joint venture projects with Indian Oil Corporation Ltd with aim of
providing Training, Consultancy & Services in Hydrocarbon Sector and later company has
decided to wind up ONGIO due to loss. During 2001-02 the augment recovery from onshore
fields of 13 projects 2 were resourcefully commissioned. By the end of the same year 2001-02
the company 's subsidiary unit ONGC Videsh Ltd commenced its commercial production of gas.

In the year of 2004 ONGC initiated Phase-I of a collaborative project on CBM in Jharia Field
and successfully completed the same in 2005. During 2004-05 the company discovered its third
deep-water exploration campaign 'Sagar Samriddhi' in Krishna-Godavari (KG) Basin at the
location Vashistha (VA-1A) in block KG-OS-DW-IV. In the western offshore a shallow-water
oil and gas was recorded in D-33, about 60 Kilometers South-West of Mumbai High, Onshore,
Oil and Gas was found in Tiphuk-1 in North Assam Shelf and Oil was struck at Wamaj in
Cambay Basin. Offshore, four new Platforms (2 Well Platforms, 1 Process Platforms and 1
Clamp-on) were Commissioned for enhancing production. New trunk pipelines are being
laidsub-sea from Mumbai High Field to Urban Oil and Gas processing facility.

In March 2005 ONGC launched its retail marketing business with commissioning of its first
autofuels outlet at Manglore under the brand 'ONGC Values' and 'Shopp'njoy' for fuel and non-
fuel business respectively. The company has also received approval/license from the
Government for marketing of non-subsidised LPG cooking gas, Kerosene and Aviation refueling
23
sales. Tripura Power Development Company Pvt Ltd (TPDCL) was incorporated to set up a gas-
based power-generating project in Tripura. TPDCL has been renamed as ONGC Tripura Power
Company Pvt Ltd after the domination. In the same year the company has entered into various
alliances in form of execution of Memorandum of Understanding with Kakinada Seaport &
IL&FS with 26% equity stake for development of Port based SEZ at Kakinada, Andhra Pradesh.
During the year 2006 the company was awarded 60 out of 110 exploration blocks by the
Government in the five NELP rounds. Out of these 60 NELP Blocks 35 are in the form of
unincorporated joint ventures and remaining blocks are company's 100% participating interest.

For the sake of its excellent concert, the company has received numerous awards every year. The
highlights are NDTV Profit Business Leadership Award, Motilal Oswal CNBC TV18 Biggest
Wealth Creator of India for the period of 2001-06, Golden Peacock Award 2006 for Corporate
Governance in PSU category, is this award has been conferred to the company regularly. Dun &
Bradstreet-American Express Corporate Awards 2006 in the oil and gas exploration sector and
Greentech Gold Safety Award in petroleum sector apart from this, the company listed and ranked
in Indian level also in global level by various evaluators.

ONGC entering the alternative energy segment with a Rs 1,200 crore-plus investment to generate
200 mw of wind power for captive use and the country's largest field, is all set to produce an
additional 20.7 million tonnes of oil and 3.32 billion cubic metre (bcm) of gas with an
investment of about Rs 5,713 crore in Mumbai High, the project envisages drilling of 86 infill
wells. Five new well head platforms and six clamp-on structures are also planned. A new process
platform bridge connected to the existing process complex ICP in Mumbai High South is
proposed to handle the additional production. ONGC have future enhancement plans in all sector
under the company, in that the production plans covers to develop Deep/Ultra Deepwater field
and flow assurance issues, extraction by Twister Technology to produce about 16 TPD of
condensate is conceptualized. Further, from the condensate fractionation scheme, production of
about 1077 TPA of LPG and 3516 TPA of Naphtha is planned at coast of Rs.30.21 crores. Under
the Drilling, formulation of polyamines enhanced High Performance Water Based Mud
(HPWBM) system and integrated cementing solutions for HPHT Oil and Gas Wells and some
other plans in above said categories and also under in Technology. The company being set up
Rajiv Gandhi Urja Bhawan in Delhi for holistic research in Alternate Energy Sources. As on may

24
2008, part of the strategic alliance initiative, the ONGC proposed assignment of participating
interest to BG Exploration and Production India Limited (BGEPIL), a 25 % participating interest
in its Mahanadi basin deep water block, MN-DWN-2002/2.

Reason behind Selected Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

ONGC 59987.6
Oil India 7905.8
Jindal Drilling 1195.4
Aban Offshore 1182.0
Total Sales (Rs. Cr.)
(Oil Exploration / Allied 72088.9
Services)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the ONGC’s contribution is highest towards the same. So I have selected ONGC.

8. Reliance Industries Ltd

(Industry: Refineries)

Overview

Reliance Industries Ltd is an India-based company. The company is India's largest private sector
company on all major financial parameters. They are the first private sector company from India
to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 117th
amongst the world's Top 200 companies in terms of profits. The company operates world-class
manufacturing facilities across the country at Allahabad, Barabanki, Dahej, Hazira, Hoshiarpur,
Jamnagar, Nagothane, Nagpur, Naroda, Patalganga, Silvassa and Vadodara.

25
The company operates in three business segments: petrochemicals, refining, and oil and gas. The
petrochemicals segment includes production and marketing operations of petrochemical
products. The refining segment includes production and marketing operations of the petroleum
products. The oil and gas segment includes exploration, development and production of crude oil
and natural gas. The other segment of the company includes textile, retail business and special
economic zone (SEZ) development.

In the year 1966 the RIL was founded by Shri Dhirubhai H.Ambani, it was started as a small
textile manufacturer unit. In May 8, 1973 RIL was incorporated and conformed their name as
RIL in the year 1985. Over the years, the company has transformed their business from
manufacturing of textiles products into a petrochemical major.

The company has set up a texturising / twisting facilities in 1979, RIL has also set up plants for
Polyester Staple Fiber (PSF) in 1986 and for Linear Alkyl Benzene (LAB) & Purified
Terephthalic Acid (PTA) in 1988. RIL has setup a petrochemical facility to produce HDPE and
PVC at Hazira, Gujarat in technical collaboration with DuPont and BF Goodich respectively.
The Hazira petrochemical plant was commissioned in 1991-92.

In the year 1995-96, the company entered the telecom industry through a joint venture with
NYNEX, USA and promoted Reliance Telecom Private Limited in India. Reliance became the
first corporate in Asia to issue bonds in the U.S at the year of 1996-97. The company
commissioned an 80,000 tonne bottle grade PET chip plant at Hazira manufacturing complex.
Reliance's PET chips has been accepted internationally due to their high quality during the year
1997-98 and in the same year Reliance Industries Planned to invest around Rs. 5000 crores (USD
1,250 million) in building two world-scale plants at the site of the Jamnagar refinery in Gujarat.
In 1998-99, RIL introduced packaged LPG in 15 kg cylinders under the brand name Reliance
Gas. In 1999-2000, RIL commissioned the world's largest 1.4 million tonnes per annum
Paraxylene (PX) plant at its new integrated petrochemicals complex at Jamnagar which was
planned at 1997-98. Reliance Petroleum Limited (RPL) was amalgamated with Reliance
Industries Ltd in the year 2002-03.

In 2004-05, RIL acquired the polyester major, Trevira GmbH, headquartered in Frankfurt,
Germany which has the capacity of 130,000 tonnes per annum of polyester staple fibers,

26
polyester filament yarns and polyester chips. In the year 2006, the company set up a new export-
oriented refinery through its subsidiary, Reliance Petroleum Limited (RPL).

In the year 2007, Indian Petrochemicals Corporation Limited (IPCL) merged with the company.
Also, Reliance Retail entered the organised retail market in India with the launch of its
convenience store format under the brand name of 'Reliance Fresh'. During the year, the
company commissioned their largest expansion project. The company expanded its
polypropylene (PP) capacity by 280 KTA at Jamnagar that increased the combined capacity to
1,710 KTA.

During the year 2007-08, the company signed an agreement to certain polyester (capacity) assets
of Hualon, Malaysia. It took over the majority control of Gulf Africa Petroleum Corporation
(GAPCO) and started shipping products to the East African markets. Also, the company signed
MoU with GAIL (India) Ltd to explore opportunities of setting up petrochemical plants in
feedstock rich countries outside India. In April 2008, the company signed gas sales and purchase
agreement (GSPA) with the customers in power sector for supply of natural gas to be produced
from the KG-D6 block. During the year, Reliance Commercial Associates Ltd, Reliance
Neutraceuticals Pvt Ltd, Reliance Pharmaceuticals (India) Pvt Ltd, Reliance Petroinvestments
Ltd, Gull Africa Petroleum Corporation (Mauritius), Gapco Tanzania Ltd, Gapoil Tanzania Ltd,
Gapco Kenya Ltd, Gapco Uganda Ltd, Gapco Rwanda SARL, Gapoil Zanzibar Ltd, Transenergy
Kenya Ltd, Recron (Malaysia) SDH BHD, Peninsula Land Kenya Ltd, Reliance International
Exploration and Production INC, Wavely Investments Ltd, Reliance Digital Retail Ltd, Reliance
Lifestyle Holdings Ltd, Reliance Universal Ventures Ltd, Reliance Home Store Ltd, Reliance
Autozone Ltd, Reliance Trade Services Centre Ltd, Reliance Integrated Agri Solutions Ltd,
Reliance Agri Products Distribution Ltd, Reliance Food Processing Solutions Ltd, Reliance
Supply Chain Solutions Ltd, Reliance Digital Media Ltd, Strategic Manpower Solutions Ltd,
Reliance Gems and Jewels Ltd, Reliance Leisures Ltd, Reliance Loyalty & Analytics Ltd,
Reliance Retail Securities and Broking Company Ltd, Delight Proteins Ltd, Reliance F&B
Services Ltd, Reliance Hypermart Ltd, Reliance Financial Distribution and Advisory Services
Ltd, Reliance Retail Travel & Forex Services Ltd, Reliance Trends Ltd, Reliance Wellness Ltd,
Reliance Brands Ltd, Reliance Footprint Ltd, Abcus Retail Pvt Ltd, Bigdeal Retail Pvt Ltd,
Advantage Retail Pvt Ltd and RIL (Australia) PTY Ltd became subsidiaries of the company.

27
During the year 2008-09, Reliance People Serve Ltd, Reliance Infrastructure Management
Services Ltd, Reliance Global Business, BV, Reliance Gas Corporation Ltd, Reliance
Globalenergy Services Ltd, Reliance One Enterprises Ltd, Reliance Personal Electronics Ltd,
Reliance Global Energy Services (Singapore) Pte Ltd, Reliance Polymers (India) Pvt Ltd,
Reliance Polyolefins Pvt Ltd, Reliance Aromatics and Petrochemicals Pvt Ltd, Reliance Energy
and Project Development Pvt Ltd, Reliance Chemicals Pvt Ltd, Reliance Universal Enterprises
Pvt Ltd, International Oil Trading Ltd, Reliance Nutritional Food Processors Pvt Ltd, Reliance
Review Cinema Pvt Ltd, Reliance Replay Gaming Pvt Ltd, RIL USA Inc. Reliance Commercial
Land Infrastructure Pvt Ltd, Reliance Corporate IT Park Ltd, Reliance Eminent Trading &
Commercial Pvt Ltd, Reliance Progressive Traders Pvt Ltd, Reliance Prolific Traders Pvt Ltd,
Reliance Universal Traders Pvt Ltd, Reliance Prolific Commercial Pvt Ltd, Reliance Comtrade
Pvt Ltd, Reliance Ambit Trade Pvt Ltd, Reliance Petro Marketing Pvt Ltd, LPG Infrastructure
(India) Pvt Ltd and Reliance Infosolution Pvt Ltd beaome subsidiaries of the company. Also,
Abcus Retail Pvt Ltd ceased to be a subsidiary of the company.

During the year, Reliance Petroleum Ltd (RPL) merged with the company with effect from April
1, 2008. From April 2, 2009, the company commenced production of hydrocarbons in its KGD6
block in the Krishna Godavari basin with the production of sweet crude of 420 API. In
November 2009, the company discovered first oil exploration in the on land exploratory block
CB-ONN-2003/1 (CB 10 A&B) awarded under the NELP-V round of exploration bidding. In
December 2009, the company discovered gas in the exploration block KG-DWN-2003/1 (KG-V-
D3) of NELP-V. The deepwater block KG-DWN-2003/1 is located in the Krishna basin, about
45 kilometers off the coast in the Bay of Bengal. In April 2010, the company commissioned a 1
MW solar Photo Voltaic power plant at Thyagaraj stadium in New Delhi. The power plant is
expected to generate around 1.4 million units of electricity a year. It would cater to the power
requirements of the stadium and the surplus would be fed to the grid at 11 KV. In addition, the
company's subsidiary Reliance Marcellus LLC executed definitive agreements to enter into a
joint venture with United States based Atlas Energy, Inc, of Pittsburgh, Pennsylvania under
which Reliance will acquire a 40% interest in Atlas' core Marcellus Shale acreage position.

In June 2010, the company entered into an agreement to acquire asubstantial stake in Infotel
Broadband Services (P) Ltd, which emerged as asuccessful bidder in all the 22 circles of the

28
auction for Broadband Wireless Access (BWA) Spectrum conducted by the DOT. The company
sees the broadband opportunity as a new frontier of knowledge economy in which it can take a
leadership position and provide India with an opportunity to bein forefront among the countries
providing world-class 4G network and services. In August 2010, the company through their
subsidiary, Reliance Industries Investment and Holding Pvt Ltd acquired the equity shares of
EIH Ltd representing 14.12% from Oberoi Hotels Pvt Ltd and certain other promoters at a total
cost of Rs 1,021 crore.

Reason behind Selected Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

Reliance Industries Ltd 92091.9
IOCL 66066.3
Essar Oil 37319.0
Total Sales (Rs. Cr.)
(Refineries)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the Reliance Industries contribution is highest towards the same. So I have
selected Reliance Industries.

9. Steel Authority of India

(Industry: Steel – Large)

Overview

The Ministry of Steel and Mines drafted a policy statement to evolve a new model for managing
industry. The policy statement was presented to the Parliament on December 2, 1972. On this
basis the concept of creating a holding company to manage inputs and outputs under one
umbrella was mooted. This led to the formation of Steel Authority of India Ltd. The Company,
incorporated on January 24, 1973, was made responsible for managing five integrated steel
plants at Bhilai, Bokaro, Durgapur, Rourkela and Burnpur, the Alloy Steel Plant and the Salem
Steel Plant.

29
Steel Authority of India Limited (SAIL) is the leading steel-making company in India. SAIL is a
fully integrated iron and steel maker, producing both basic and special steels for domestic
construction, engineering, power, railway, automotive and defence industries and for sale in
export markets. The company's plants are divided as Integrated Steel Plants and Special Steel
Plants. The Integrated Steel Plants comprised Bhilai Steel Plant (BSP) in Chhattisgarh, Durgapur
Steel Plant (DSP) in West Bengal, Rourkela Steel Plant (RSP) in Orissa, Bokaro Steel Plant
(BSL) in Jharkhand and IISCO Steel Plant (ISP) in West Bengal. The Special Steel Plants
includes Alloy Steels Plants (ASP) in West Bengal, Salem Steel Plant (SSP) in Tamil Nadu and
Visvesvaraya Iron and Steel Plant (VISL) in Karnataka, totally 8 plants. SAIL, by virtue of its
Navratna' status, enjoys significant operational and financial autonomy.

SAIL International Ltd was incorporated to coordinate the export and import business the year
1974. In 1976, Durgapur Mishra Ispat Ltd., Bhiali Ispat Ltd., an Rourkela Ispat Ltd., were
formed as fully owned subsidiaries of SAIL for taking over the running business of Alloy Steels
Plants, Bhilai steel Plant and Rourkela Steel Plant on transfer from HSL. During the year 1978
SAIL was restructured as an operating company. In the year 1982, The Salem Steel Plant was
inaugurated at Salem in Tamil Nadu. It represents the dispersal of industries and balance regional
development bringing the latest sophistication in cold rolling. The number of technological
improvement schemes was undertaken during the year 1985, the most notable thing was the
conversion of open-hearth furnace No.10 into twin hearth furnace. A year after, in 1986, all the
Phase-I units under the plants' 4 million tonnes expansion programme were commissioned. A
vacuum arc-degassing unit was started in the converter shop and a second normalizing furnace in
plate mill was added. During the year 1988, The Visvesvaraya Irons & Steel Co. Ltd was became
a subsidiary of the company by acquisition of 60% of the shares and the Bhilai Steel Plant set up
a blast furnace bell-less top charging system in the same year. In 1990, the company made a
modernisation programme to revamp and technologically upgrade the plant. After the
modernisation the plant slated for a crude steel capacity of 1.9 million TPA. The Company's
R&D unit at Ranchi was set up in the year 1992 with a view to promote continuous improvement
in critical performance indices of the steel plant in order to increase productivity, reduce
production cost and improve quality by production optimization or by introduction of new
technologies. In 1993, SAIL launched the consultancy division with a view to harness the

30
resources and expertise in steel related areas and market engineering, technical, managerial and
training services.

Two major schemes viz. new sinter plant III and expansion of oxygen plant II were taken up for
implementation. C.O. Battery No. 10 was commissioned during the year 1994. At Rourkela steel
plant, five of phase II modernisation packages viz. power distribution, mobile equipment for
RMHS, II sizing plant at Satara and Tarkera intake facilities and make-up water pump houses for
Tarkera works were commissioned. SAIL has ventured into setting up a power project at Bhilai
by the form joint venture with M/s. Larsen & Toubro and CEA, USA Inc in the year 1995. In
1997, the major production facilities of modernisation like both continuous casting machines,
steel refining unit and coiler-4 were installed and the modernisation of rail & structural mill
(stage 1-phase) was commissioned. SAIL has made a marketing tie up with Tyazprom export
(TPE) of Russia in the year 1999 to sell the entire range of castings and pig iron produced by
Kulti Works, a division of Indian Iron and Steel Company (IISCO). During the year 2000, SAIL
signed a MoU with Egypt's public sector Metallurgical Industries Corporation (Micor) for the
establishment of a modern technical and management training centre for the Egyptian steel
industry. The Company has launched a new millennium special media campaign to hard sell its
wide range of products. The Durgapur Steel Plant of the company has commissioned the
computerised integrated production planning and control (PPC) system that helps in practically
every aspect of plant operation and dispatch. The Company, Tata Steel and Kalyani Steels Ltd.
entered into an agreement for creation of an Internet-based global, independent B2B Steel
Market place.

Major projects implemented during 2002-03 includes upgradation of BF-3 with increase in
useful volume and installation of INBA Cast House Slag Granulation Plant at BF-3 at DSP,
installation of De-scaling Unit before 950 mm Roughing Stand of Rail & Structural Mill of BSP
and installation of Combined Blowing Technology in Converter No. 2 at SMS-II of BSL. Efforts
were also made in nonsteel sectors and consultancy orders were procured from petroleum,
chemicals and power sectors besides steel sector. In addition to executing consultancy projects in
India, projects were executed during 2003-04 by SAILCON in Iran, Egypt and Georgia. During
the period of 2004-05, SAIL has wide use of e-commerce, e-procurements worth Rs. 298 crore
and e-selling worth Rs. 1,156 crore and during the same year the company earned the enviable

31
status of a virtual zero debt company. SAIL entered into an agreement with GAIL for supply of
natural gas for its integrated steel plants. A MoU was also signed with KIOCL for joint
development of some iron ore mines of the company. SAIL received the prestigious SCOPE
Gold Trophy for Excellence and Outstanding Contribution to the Public Sector Management-
Institutional category for the year 2004-05.

The Company bagged, 'Business world-FICCI-SEDF Corporate Social Responsibility Award -

2006'. SAIL has undertaken a massive modernisation and expansion plan during the year of
2006-07 with an indicative cost of over Rs. 40,000 crore to expand capacity of hot metal to over
25 million tonnes from current level of 14.6 million tonnes. The company introduced several
new products in the domestic market during the year 2006-07: HCR-EQR TMT for earthquake
resistant construction, rock bolt TMT for tunnel construction, EN series HR coils for LPG
cylinders, MC 12 HR coils for chains etc. In addition, Bhilai Steel Plant developed high strength
vanadium rails; Durgapur Steel Plant produced S-profile loco wheels for high-speed locos and
Rourkela Steel Plant rolled special plates, which were used, in the indigenously built rocket
PSLV C-7.

As on January 2008, India's two biggest steel makers, public sector Steel Authority of India Ltd
(SAIL) and private sector Tata Steel Ltd, have formed a joint venture company (JVC) to mine
coal blocks for securing assured coking coal supply to meet their increasing production needs.
As on June 2008, SAIL made a joint venture with Shipping Corporation of India may own a few
bulk carriers to have continuous availability of vessels. The Company is setting up three steel
processing units (SPU) in Madhya Pradesh for manufacturing various types of steel items used
by the construction industry.

The company's Corporate Plan, 2012 (CP12) was formulated in 2004 for 4 integrated steel plants
for increase in Hot Metal production to 20 Mt by 2012. After merger of in IISCO Feb 06, the Hot
Metal production Plan was revised to 22.5 Mt by 2012. Expansion of Special Steel Plants was
also included. Hon'ble Minister of Steel reviewed the Corporate Plan 2012 in Jul'2006, wherein it
was decided to take up the Expansion of Integrated Steel Plants and Special Steel Plant in one go
based on Composite Project Feasibility Report (CPFR).

Reason behind Selected Particular Company among other players in the Industry:

32
 Company Name Sales (Rs. Cr.)
SAIL 40551.4
Tata Steel 24716.8
JSW Steel 18202.5
Ispat Inds. 7782.9
Total Sales (Rs. Cr.)
(Steel - Large)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the SAIL contribution is highest towards the same. So I have selected SAIL.

10. Jaiprakesh Associates Ltd

(Industry: Construction)

Overview

Jaiprakash Associates Ltd is a diversified infrastructural industrial conglomerate in India. The

company is the leader in Engineering and Construction of Hydropower projects in India. They
are the only integrated solution provider for Hydropower projects in the country with a track
record of strong project implementation in different capacities. The company is in the business of
heavy civil engineering construction, expressways, cement, and real estate and hospitality.

The company is engaged in the business of integrated engineering construction and operates at
the locations of their clients and uses electric energy for implementation of various projects
undertaken by them. They are also engaged in the business of manufacture and marketing of
33
cement and own five star hotels at New Delhi, Mussoorie and Agra and a Golf Course with
associated recreational and residential facilities at Greater Noida as part of their real estate
business. Jaiprakash Associates Ltd, a part of the Jaypee Group was incorporated in the year in
the year 1995 under the name Bela Cement Ltd. The company was promoted by Jaiprakash
Gaur, a well known leader in the construction of multi-purpose river valley and hydropower
projects.

In the year 2000, Jaypee Rewa Cement Plant and Jaypee Bela Cement Plant were merged. In
April 1, 2002, the cement division of Jaiprakash Industries Ltd was hived off and merged with
the company. The name of the company was changed to Jaypee Cement Ltd. In the year 2003,
Jaiprakash Industries Ltd was amalgamated with the company with effect from April 1, 2002 and
the name of the company was changed from Jaypee Cement Ltd to Jaiprakash Associates Ltd
with effect from March 11, 2004. Subsequently, the subsidiaries of Jaiprakash Industries Ltd,
namely Jaypee Hotels Ltd, Jaiprakash Hydro-Power Ltd, Jaiprakash Power Ventures Ltd and
Jaypee Karcham Hydro Corporation Ltd became the subsidiaries of the company.

During the year 2003-04, the company completed the contracts such as Contract for civil and
hydro-mechanical works of 300 MW Baspa-II Hydroelectric Project in Himachal Pradesh,
Contract for construction of Pressure Shafts and Underground Power House Complex of the
Prestigious 1,500 MW Nathpa Jhakri Hydro-electric Project in Himachal Pradesh and EPC
Contract for 300 MW Chamera (stage II) Hydroelectric Project in Himachal Pradesh.

During the year 2004-05, the company completed the work of concrete gravity Dam and 1,000
MW capacity surface Power House of Indira Sagar (Narmada), Hydro-electric Project in Madhya
Pradesh.

During the year 2005-06, the company completed the work of construction of Dam and Power
House of 1,000 MW Indira Sagar (Narmada Sagar) Hydro-electric Project. They entered into
joint venture with Government of Madhya Pradesh and formed a Special Purpose Vehicle,
namely Madhya Pradesh Jaypee Minerals Ltd, for development of Amelia (North) Coal Block in
Sidhi (MP) at an investment of Rs 400 crore. In June 2006, Jaypee Greens Ltd merged with the
company with effect from April 1, 2005.

34
During the year 2006-07, the company completed the contracts such as, Dul-Hasti Hydroelectric
Project (390 MW) in Jammu & Kashmir, Vishnuprayag Hydroelectric Project (400 MW) in
Uttarakhand, Tehri Hydroelectric Project (1,000 MW) in Uttarakhand, Sardar Sarovat
Hydroelectric Project (1450 MW) in Gujarat and Tala Hydroelectric Project (1,020 MW) in
Bhutan. Thus, they completed the projects with power generation capacity of 4,260 MW.

In October 5, 2006, Jaypee Powergrid Ltd was incorporated as a subsidiary of Jaiprakash Hydro-
Power Ltd for transmission of energy from Karcham Wangtoo Hydro Electric Project of 1000
MW at Kinnaur in Himachal Pradesh from Wangtoo to the interconnecting point with the
northern grid at Abdullapur, Yamunanagar, and Haryana. In April 5, 2007, the company
incorporated Jaypee Infratech Ltd as a wholly owned subsidiary for implementation of Taj
Expressway Project comprising 165 KM 6/B lane access controlled Expressway connecting
Noida & Agra and related activities including development of land and in April 11, 2007, they
incorporated Bhilai Jaypee Cement Ltd in Chhattisgarh as a joint venture with Steel Authority of
India Ltd.

In May 25, 2007, the company incorporated Himalyan Expressway Ltd as a wholly owned
subsidiary for implementation of 27.14 km long Zirakpur- Parwanoo Road Project in the States
of Punjab, Haryana and Himachal Pradesh on BOT basis.

During the year 2007-08, the company completed the contracts, namely Teesta- V Hydro-electric
Project (510 MW) in Sikkim, Omkareshwar Hydro-electric Project (520 MW) in Madhya
Pradesh and construction of civil works of Zone-III Laole-Quazigund Section of Katra-
Baramullah Railway Line in J&K. Also, they handed over the 390 MW Dulhasti Hydro Electric
Project in the State of Jammu & Kashmir to NHPC. They commissioned the Wind Turbine
Generators with an aggregate capacity of 49 MW (40.25 MW in Maharashtra and 8.75 MW in
Gujarat).

During the year, the company signed an agreement with Gujarat Mineral Development
Corporation Ltd for setting up a 2.4 MTPA cement plant in Gujarat through a Special Purpose
Vehicle, namely Gujarat Jaypee Cement & Infrastructure Ltd. Also, the company along with the
affiliates acquired 74% equity shares in JPSK Sports Pvt Ltd.

35
In March 2008, the company commissioned the phase I of Chunar and Dalla Cement Plants in
UP and Grinding Unit at Panipat in Haryana. In April 23, 2008, the company incorporated a
subsidiary namely Jaypee Arunachal Power Ltd to put up a Power Project in joint venture with
Government of Arunachal Pradesh.

During the year 2008-09, Jaypee Hotels Ltd, Jaypee Cement Ltd, Jaiprakash Enterprises Ltd and
Gujarat Anjan Cement Ltd were amalgamated with the company with effect from April 1, 2008.
The company acquired Bina Power Supply Company Ltd, which was incorporated to set up 1250
MW (two phases of 625 MW each) coal fired Thermal Power Plant at Bina in Madhya Pradesh.
The company through their subsidiary, JPSK Sports Pvt Ltd targets to host the very first F1 Race
in India in the year 2011. During the year, the company completed the work of 450 MW
Baglihar-I Hydroelectric Project in J & K State. They commissioned their Cement Plant at Dalla
and Sidhi and Grinding Facilities at Sevagram.

In August 2008, the company signed four MoU with Madhya Pradesh Government to invest Rs
13,000 crore for setting up two cement manufacturing units, an aluminium production factory
and a power plant for generating power. The power generation from these units would
commence from 2011-2012.

In addition, the company entered into an MoU with Government of Chhattisgarh for setting up a
cement plant of 2 MTPA, Clinker plant of 1.5 MTPA & a captive power plant of 25 MW in
Chhattisgarh. They also entered into another MOU for, setting up an integrated aluminium
complex and a captive thermal power plant in Rewa. In February 2009, the company received
letter of intent from Sangam Power Generation Company Limited for setting up of 2 x 66O MW
Super Critical Technology - Karchhana Thermal Power Project at Allahabad, with approved coal
linkage. In May 14, 2009, MP Jaypee Coal Ltd was incorporated as a joint venture with Madhya
Pradesh State Mining Corporation Ltd for mining and sale of Coal from Dongri Tal-II Coal
Block at Singrauli in Madhya Pradesh.

During the year 2009-10, the company commissioned three new cement plants with aggregate
capacity of 4.4 MTPA and their clinker manufacturing unit in Himachal Pradesh. The three new
cements plants were Wanakbori (1.2 MTPA), Gujarat; Bagheri (2 MTPA), Himachal Pradesh

36
and Roorkee (1.2 MTPA) Uttarakhand. Also, the company in joint venture with SAIL
commissioned the cement plant of 2.2 MTPA capacity ahead of schedule (Units in Madhya
Pradesh & Chattisgarh). The company proposes to make strategic investment in Fertilizer
business through their subsidiary company, namely, Jaypee Fertilizers & Industries Ltd.

Reason behind Selected Particular Company among other players in the Industry:

Company Name Sales (Rs. Cr.)

JP Associates 10088.9
Punj Lloyd 7116.7
IVRCL Infra. 5477.1
Total Sales (Rs. Cr.)
86117.6
(Construction)

As the Contribution towards the Sales (Rs. Cr.) among the above mention competitive company
we can see that the JP Associates contribution is highest towards the same. So I have selected JP
Associates.

Chapter 2

37
 Theory of the Methodologies for Calculating the Index

1. Market Capitalization Weighted:

(A) Full Market Capitalization Method: In this method, the number of shares
outstanding multiplied by the market price of a company’s share determines
the scrip’s weightage in the index. The shares with the highest market
capitalization would have a higher weightage and would be the most
influential in this type of index.

(B) Free – float Market Capitalization Method: Free float is the percentage of
the shares that are freely available for purchase in the market. It excludes
strategic investments in a company such as the stake by government,
controlling shareholders and their families, the company’s management,
restricted shares due to IPO regulations and shares locked under the employee
stock capitalization. Companies which provide high shareholder value but
have less free – float would be marginalized.

38
 (C) Modified Capitalization Weighted: This method seeks to limit the influence
of the largest stocks in the index which otherwise would dominate the entire
index. This method sets a limit on the percentage weight of the largest stock
or a group of stocks.

2. Price Weighted Index:

In this method, the price of each stock in the index is summed up which is then
equated to an index staring value. An arbitrary date is set as the base and the
Laspeyre’s Price Index which measures price change against a fixed base period
quantity weight is used.

3. Equal Weighting:
In this method, each stock’s percentage weight in the index is equal and hence all
stocks have an equal influence on the index movement.

Chapter 3

39
 Calculations of the Methodologies for Calculating the Index

1. Market Capitalization Method:

(A) Full Market Capitalization Method:

Market
Weight Index
Capitalization
Name of the Total Share Closing (Market (Weight *
(Rs. Cr.)
Company (Rs. Cr.) Price (Rs.) Cap / Total Closing
(Total Share *
Market Cap) Price)
Closing Price)
State Bank
of India 634883509 2895.9 1838559153713 0.172009911 498.1235026
(SBI)
HSIL Ltd 55025508 138.9 7643043061 0.000715059 0.099321762
ITC Ltd 3818176790 164.3 627326446597 0.058690723 9.642885837
Wipro 2449412810 410.5 1005483958505 0.094069971 38.61572319
Indian
Hotels Co 723472787 118.85 76941330897 0.007198393 0.765549106
Ltd

40
 Bata India
64263770 340.65 21891453251 0.002048097 0.697684141
Ltd
Oil and
Natural Gas
2138872530 1355.5 2899241714415 0.271244093 367.6713685
Corporation
Ltd (ONGC)
Reliance
Industries 3270714336 959.6 3138577476826 0.293635607 281.7727289
Ltd
Steel
Authority of 4130400545 198.65 820504068264 0.076763824 15.24913373
India (SAIL)
Jaiprakesh
Associates 2124634633 118.85 252512826132 0.02362432 2.807750373
Ltd
1068868147166
Total 1 1215.445648
1
(B) Free – float Market Capitalization Method:

Free Float
Holding of (Rs. Cr.) Market Weight
Name of Closin Index
Total Holding of Central / (Total Capitalizatio (Market
the g (Weight *
Share (Rs. Promoter State Share – n (Rs. Cr.) Cap / Total
Compan Price Closing
Cr.) (Rs. Cr.) Governme Promoter – (Free Float * Market
y (Rs.) Price)
nt (Rs. Cr.) Central / Closing Price) Cap)
State
74584289944 0.17033043 493.259917
SBI 634883509 377207200 124978 2895.9 257551331
3 9 1
0.00068966 0.09579459
HSIL Ltd 55025508 33283903 0 138.9 21741605 3019908935
6 3
381817679 381817679 62732644659 0.14326447 23.5383526
ITC Ltd 0 0 164.3
0 0 7 1 6
`
244941281 194595376 20666993879
Wipro 0 410.5 503459047 0.04719785 19.3747174
0 3 4
4
Indian
0.01225069 1.30286140
Hotels 723472787 219066116 2900 118.85 504403771 53643341046
5 3
Co Ltd

41
 Bata 0.83421778
64263770 32785000 0 340.65 31478770 10723243001 0.0024489
India Ltd 8
213887253 158574067 74977023216 0.17122733 232.098653
ONGC 0 1355.5 553131857
0 3 4 6 5
Reliance
327071433 146392334 180182378 17290301002 0.39486392 378.911423
Industrie 4967212 959.6
6 3 1 48 6 2
s Ltd
413040054 354469028 11635134314 0.02657151 5.27843132
SAIL 0 198.65 585710260
5 5 9 4 7
JP
212463463 976781041 114785359 13642239940 0.03115520 3.70279590
Associate 0 118.85
3 2 9 3 6
s Ltd
43787998527 1158.39716
Total 1
84 5

(C) Modified Capitalization Weighted:

Name of the Weight (Full Closing Price

New Weight Index
Company Market) (Rs.)

State Bank of
0.172009911 0.185770704 2895.9 537.9733828
India (SBI)

HSIL Ltd 0.000715059 0.000772264 138.9 0.107267503

ITC Ltd 0.058690723 0.063385981 164.3 10.4143167

Wipro 0.094069971 0.101595569 410.5 41.70498104

Indian Hotels Co
0.007198393 0.007774265 118.85 0.826793034
Ltd

Bata India Ltd 0.002048097 0.002211944 340.65 0.753498872

Oil and Natural

Gas Corporation 0.271244093 0.231244093 1355.5 313.4513681
Ltd (ONGC)

42
 Reliance
0.293635607 0.253635607 959.6 243.3887285
Industries Ltd

Steel Authority
0.076763824 0.08290493 198.65 16.46906443
of India (SAIL)

Jaiprakesh
0.02362432 0.025514265 118.85 3.032370403
Associates Ltd

Total 1 0.954809623 1168.121771

2. Price Weighted Index:

Weight (Closing
Name of the
Closing Price (Rs.) Price / Total Closing Index
Company
Price)

State Bank of India

2895.9 0.432921725 1253.698022
(SBI)

HSIL Ltd 138.9 0.020764815 2.884232793

ITC Ltd 164.3 0.024561981 4.035533397
Wipro 410.5 0.061367578 25.1913906
Indian Hotels Co Ltd 118.85 0.015898762 1.690833358
Bata India Ltd 340.65 0.050925372 17.34772805

43
Oil and Natural Gas
Corporation Ltd 1355.5 0.202640077 274.6786238
(ONGC)

Reliance Industries
959.6 0.143455122 137.6595348
Ltd

Steel Authority of
198.65 0.029697124 5.899333627
India (SAIL)

Jaiprakesh
118.85 0.017767446 2.111660961
Associates Ltd

Total 6689.2 1725.196893

3. Equal Weighting:

Name of the
Closing Price (Rs.) Weight Index
Company

State Bank of India

2895.9 0.1 289.59
(SBI)

HSIL Ltd 138.9 0.1 13.89

ITC Ltd 164.3 0.1 16.43

Wipro 410.5 0.1 41.05

Indian Hotels Co Ltd 118.85 0.1 10.635

Bata India Ltd 340.65 0.1 34.065

44
Oil and Natural Gas
Corporation Ltd 1355.5 0.1 135.55
(ONGC)

Reliance Industries
959.6 0.1 95.96
Ltd

Steel Authority of
198.65 0.1 19.865
India (SAIL)

Jaiprakesh
118.85 0.1 11.885
Associates Ltd

Total 6689.2 1 668.92

Chapter 4

45
 Bibliography

 www.neseindia.com
 www.capitalline.com
 www.capital market.com
 www.quantshare.com

46