Equity Valuation

“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
1
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 Sandip Jain
Regd no.-
GJUJUL08AA255
Batch 2008-2010
STUDENT’S 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.
3
Place: NewDelhi
Date: Sandip Jain
PREFACE
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.
4
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 COULDN’T 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.
5
I ASSURE THAT ALL THE INFORMATION PROVIDED BY ME IS
ORIGINAL AND AUTHENTICATED.
Sandip Jain
(summer trainee)
CONTENT
Sl. No. Topic Page No.

1. Preface 4
2. Acknowledgement 5
3. Executive Summary 7
4. Indian Economy 8
5. Chapter 1. Introduction 12
6. Chapter 2. Research Methodology 18
7. Chapter 3. Company’s Profile 36
8. Chapter 4. Conclusion 95
9. Chapter 5. Bibliography 98
EXECUTIVE SUMMARY
6
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 INDIA’S

ECONOMY
7
The country’s gross domestic product (GDP) grew by 6.7% in 2008-09, lower than the government’s
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 9.2 9.3
9 8.6
7.7
8 9
7 7.8 5.8
6
5 5.8 GDP
4
3
2
1
0
q1 q2 q3 q4 Q1 Q2 Q3 Q4
2007-08
8
Quarters Rate Reason
Q1 9.2% India was the attraction of global investors
after a record 9.8% growth in 2006-07

Q2 9% Lower farm growth pulls down GDP a bit
But economy continues to roar

Q3 9.3% The rupee rose to 39.22 against the dollar,
reaching its stongest position in several
years
Q4 8.6% 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 Rate Reason
Q1 7.8% Economy stays robust even as the trouble
In the US grows into a global crisis

Q2 7.7% Lehmann Bros., big banks collapse
Q3 5.8% Exports slide, foreign investors quit,
Manufacturing shrinks
Q4 5.8% Economy does better than expected, sees
some signs of recovery.
Note:
Q1- April – June
Q2- July – September
Q3- October – December
Q4- January – March
9
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 year’s 8.2%.
It’s 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 can’t announce more interest rate cuts.
Government’s plans
NAME POSITION PLANS

MURLI DEORA Petroleum & natural Providing uninterrupted supplies of
gas minister petroleum products at all time

SUSHIL KUMAR SHINDE Power minister Power capacity addition will remain
the focus. There will be speed up in
the implementation of existing ultra
mega power projects.

ANAND SHARMA Commerce & There is the possibility for more
industry minister incentives for exporters.

KAMAL NATH Highways and Highway projects will start to execute
surface transport
minister
10
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Chapter 1
Introduction
Company’s 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 Chairman / Managing Director
Mr RAJIV BALHARA Director
13
Mr. KULDEEP SHARMA Director
Mr. YAJUR CHAUDHARY Director
Mr. RAJNEESH AGARWALA Director
Mr. VIPIN KUMAR Director
Mr. GAJRAJ SINGH Director
Mr. ANIL KAUSHIK 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 today’s 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 obligation—to 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 firm’s 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 firm’s
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.
18
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
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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 lower-
band. 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.
22
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 stock’s 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 stock’s 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. You’ll
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 ¾ 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 long-
time 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, you’ll earn a healthy profit
regardless of where the market is going.
Profitable Pattern Number Three
30
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%.
32
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 pattern’s height (distance from the resistance to the bottom of the lowest
trough).
Triple Top Pattern
33
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 pattern’s height (distance from the support to the top of the highest peak).
34
Chapter 3
35
Company’s 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 to tap the opportunity arising from a shortage of
10.99 million Learners schools in India, namely, Educomp Infrastructure
21,000 Schools and Educomp School Management.
4500 Professionals
27 Offices
Presence in India, North America and the Asia
Pacific Region
Works with 13 state governments in India 36

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. Venture with
1. AsknLearn
Educomp Products 2. Three Bricks
Educomp has over the years been at the forefront of 3. AuthorGen Tech.
various pioneering initiatives in the e-education space. 4. Savvica

5. Learning.com
A few notable examples are
6. Raffles Education Gr.
Introduced Smart classTM, a ‘teacher-led’ content
delivery system that has dramatically improved learning effectiveness in class.
37
Developed India’s richest 3 D K-12 content library with over 15,000 modules aligned to Indian and
international learning standards.
Developed Roots to WingsTM, India’s 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.
Educomp’s 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.
38
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) 55.02
FII 39.70
Others 5.28
PE ratio
EPS (Rs) 31.54 Mar, 09
Sales (Rs crore) 1839.04 Mar, 09
Face Value (Rs) 10 1994
Net profit margin (%) 25.51 Mar, 08
last dividend (%) 25 02/06/08
Return on average equity 24.43 Mar, 08
40
%
Othe rs
5%
FII
(India n(DII
40%
55%
Ratio Analysis
Ratio 2008-09 2007-08 2006-07

Leverage 1.28 1.22 1.03
Profitability 68.46 47.58 46.96
Net Profit 29.64 26.73 26.82
41
Liquidity 5.90 5.64 5.23
Charts on Monthly basis
May
date Open High Low Close Volume

29-May-09 2,849.00 2,883.80 2,805.00 2,823.55 127,700
28-May-09 2,835.00 2,849.00 2,757.20 2,817.30 146,300
42
27-May-09 2,920.00 2,920.00 2,763.25 2,820.55 135,300
26-May-09 2,900.00 2,932.90 2,716.10 2,738.00 263,100
25-May-09 2,750.00 2,917.00 2,730.25 2,881.35 307,900
22-May-09 2,634.90 2,750.00 2,620.00 2,723.85 304,900
21-May-09 2,545.00 2,699.00 2,530.00 2,638.50 234,500
20-May-09 2,669.90 2,720.00 2,538.00 2,555.15 238,300
19-May-09 2,811.00 2,950.00 2,500.00 2,671.95 315,300
18-May-09 2,506.00 2,599.00 2,506.00 2,506.00 0
15-May-09 2,445.00 2,445.00 2,360.00 2,377.50 162,600
14-May-09 2,400.00 2,470.00 2,358.00 2,393.60 223,200
13-May-09 2,444.90 2,520.00 2,435.00 2,471.80 339,300
12-May-09 2,389.00 2,452.90 2,385.25 2,423.20 304,300
11-May-09 2,355.00 2,449.95 2,330.00 2,402.65 471,300
8-May-09 2,251.20 2,367.00 2,250.00 2,310.70 514,000
7-May-09 2,300.00 2,346.00 2,240.00 2,261.45 378,000
6-May-09 2,395.00 2,430.00 2,238.00 2,269.00 409,700
5-May-09 2,400.00 2,447.00 2,332.00 2,376.80 355,900
4-May-09 2,540.00 2,640.00 2,352.00 2,377.25 621,100
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
intervention on students
14th may Educomp bags Rs 83.82 crore order from Gujarat
government to introduce computer-aided learning in
5099 secondary/senior secondary schools in the state

th
13 may 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
R=2500
2,500.00
2,400.00 High
low
2,300.00
close
2,200.00
S=2250
2,100.00
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 R=2475
2,450.00
High
2,400.00
low
2,350.00
close
2,300.00 S=2360
2,250.00
2,200.00
15-May- 14-May- 13-May- 12-May- 11-May-
09 09 09 09 09
*There is a fall of Rs.25 in a week
44
3,000.00
2,900.00 R=2875
2,800.00
2,700.00 High
2,600.00 low
2,500.00 close
2,400.00 S=2525
2,300.00
2,200.00
09 09 09 09 09
*A rise of Rs.217 in a week
2,950.00
R=2900
2,900.00
2,850.00
High
2,800.00
low
2,750.00
close
2,700.00
S=2725
2,650.00
2,600.00
09 09 09 09 09
*A fall of Rs.58
45
25
-M
22 ay-
0.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
-M 09
21 ay-
-M 09
20 ay-
-M 09
Support level – 2450

19 ay-
-M 09
Resistance level – 2800

18 ay-
-M 09
15 ay-
-M 09
14 ay-
-M 09
13 ay-
-M 09
* there is a rise of Rs.440 within a month.

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 Open High Low Close Volume

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

24th apr 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 High
Low
2,400.00 Clos e
2,300.00 S =2350
2,200.00
2,100.00
29-A pr-09 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 S = 22 5 0
H ig h
1 ,500 .0 0 L ow
C lo s e
1 ,000 .0 0
50 0.00
0 .0 0
2 3-A p r-0 9 2 2 -A p r-0 9 2 1 -A p r-09 20 -A p r-0 9
48
2 ,5 0 0 . 0 0 R = 2250
2 ,0 0 0 . 0 0
S = 2000
1 ,5 0 0 . 0 0 H ig h
Low
1 ,0 0 0 . 0 0 C lo s e
500.00
0.00
1 7 -A p r-0 9 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
R = 2 4 00
2,400 .0 0
2,300 .0 0
2,200 .0 0 H ig h
Low
2,100 .0 0 C lo s e
S = 21 50
2,000 .0 0
1,900 .0 0
1,800 .0 0
9 -A p r-09 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
High
1,500.00 Low
Close
1,000.00
500.00
0.00
-A 9
-A 9
-A 9
-A 9
-A 9
-A 9
-A 9
-A 9
-A 9
-A 9
-A 9
9- -0 9
9
8- -09
6- -09
2- -09
1- -09
r-0
28 r-0
27 r-0
24 r-0
23 r-0
16 r-0
13 r-0
22 r-0
21 r-0
20 r-0
17 r-0
15 r-0
r
r
r
r
pr
p
p
p
p
p
p
p
p
p
p
p
Ap
Ap
Ap
Ap
Ap
-A
29
March
Date
Open High Low Close Volume
31-Mar-09 2,061.30 2,140.00 2,031.50 2,090.65 431,100

30-Mar-09 2,180.00 2,180.00 2,031.00 2,050.65 312,800
27-Mar-09 2,165.00 2,255.00 2,150.00 2,199.35 448,300
26-Mar-09 2,070.00 2,160.00 2,050.00 2,135.90 414,000
25-Mar-09 2,074.80 2,074.80 1,970.00 2,044.15 563,000
24-Mar-09 2,040.00 2,145.00 2,022.00 2,054.65 637,000
23-Mar-09 1,950.25 2,037.00 1,940.00 2,015.65 665,200
50
20-Mar-09 1,931.95 1,945.45 1,826.00 1,898.00 723,600
19-Mar-09 1,998.00 2,002.20 1,852.20 1,931.95 747,100
18-Mar-09 1,950.00 2,024.30 1,942.10 1,964.50 724,600
17-Mar-09 1,950.00 2,039.90 1,933.00 1,954.30 931,000
16-Mar-09 1,780.00 1,944.95 1,780.00 1,931.35 929,600
13-Mar-09 1,585.15 1,793.00 1,585.15 1,762.90 994,600
12-Mar-09 1,542.00 1,574.90 1,521.10 1,560.60 381,300
9-Mar-09 1,540.00 1,547.00 1,495.15 1,513.80 430,800
6-Mar-09 1,535.00 1,577.00 1,473.60 1,560.25 771,900
5-Mar-09 1,590.00 1,634.00 1,521.00 1,546.35 705,000
4-Mar-09 1,550.00 1,600.00 1,536.10 1,570.80 761,700
3-Mar-09 1,600.00 1,635.00 1,515.75 1,530.25 916,400
2-Mar-09 1,610.00 1,643.00 1,510.00 1,605.35 724,500
News in the month of March
24th mar Asia’s largest private education group Raffles
Education Corporation establishes its second design
training centre at Pusa Road in New Delhi through
joint venture with Educomp Solutions Ltd.

th
14 mar 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
high
2,100.00
low
2,000.00
1,900.00 close
1,800.00
31- 30- 27- 26- 25-
Mar- Mar- Mar- Mar- Mar-
09 09 09 09 09
*A Rise of Rs.46
2,200.00
2,100.00
2,000.00 high
1,900.00 low
1,800.00 close
1,700.00
1,600.00
24- 23- 20- 19- 18-
09 09 09 09 09
*A rise of Rs.90 in a Week
2,500.00
2,000.00
high
1,500.00
low
1,000.00
500.00 close
0.00
17- 16- 13- 12- 9-
09 09 09 09 09
52
1,700.00
1,650.00
1,600.00 high
1,550.00
1,500.00 low
1,450.00 close
1,400.00
1,350.00
6- 5- 4- 3- 2-
09 09 09 09 09
*A fall of Rs.45 in a week.
2,500.00
Resistance level
2,000.00
1,500.00 High
Support level
Low
1,000.00 Close
500.00
0.00
27 Ma 09
26 Ma 09
25 Ma 09
24 Ma 09
23 Ma 09
20 Ma 09
19 Ma 09
18 Ma 09
17 Ma 09
16 Ma 09
13 Ma 09
12 Ma 09
9- ar- 9
6- a r 9
5- a r 9
4- a r 9
3- a r- 9
2- a r 9
ar 9
9
-M r- 0
M 0
M -0
M -0
M 0
M -0
-0
M -0
- r-
- r-
- r-
- r-
- r-
- r-
- r-
- r-
- r-
- r-
- r-
- r-
30 Ma
-
31
Resistance level – 1897.63
Support level – 1784.28
53
February

27-Feb-09 1,520.00 1,669.30 1,489.00 1,643.95 1,234,200
26-Feb-09 1,618.85 1,635.00 1,480.00 1,567.90 1,261,800
25-Feb-09 1,599.00 1,684.70 1,592.00 1,618.85 994,400
24-Feb-09 1,700.00 1,725.00 1,536.10 1,565.50 1,488,100
20-Feb-09 1,970.00 1,985.00 1,711.10 1,771.85 1,626,600
19-Feb-09 2,130.00 2,177.00 1,991.00 2,015.65 1,131,100
18-Feb-09 1,970.00 2,140.15 1,956.00 2,117.75 1,120,700
17-Feb-09 2,010.00 2,055.00 1,910.00 2,006.15 905,700
16-Feb-09 2,130.00 2,162.00 2,026.00 2,055.00 990,600
13-Feb-09 1,974.00 2,145.00 1,938.00 2,097.20 955,600
12-Feb-09 1,790.00 1,985.00 1,790.00 1,956.85 803,200
11-Feb-09 1,850.00 1,959.00 1,774.00 1,837.75 1,220,800
10-Feb-09 1,595.00 1,968.00 1,595.00 1,891.45 1,410,100
9-Feb-09 1,430.00 1,615.00 1,402.00 1,597.05 873,200
6-Feb-09 1,404.00 1,438.40 1,331.00 1,401.40 785,500
5-Feb-09 1,400.00 1,449.00 1,356.00 1,394.00 359,200
4-Feb-09 1,490.05 1,565.90 1,392.65 1,412.85 674,100
3-Feb-09 1,594.40 1,635.25 1,450.00 1,490.05 715,300
2-Feb-09 1,770.00 1,825.00 1,635.55 1,698.70 550,700
News in the month of February
4th Feb Education solutions provider educomp Solutions Ltd
54
has said it will work with the Government and
regulators to prove the company's credibility

th
4 Feb IT education solutions provider Educomp Solutions Ltd on
Tuesday informed the Bombay Stock Exchange (BSE) that
will appoint global consultancy firm Grant Thornton
as internal auditor
rd
3 Feb India’s 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
high
1,500.00
low
1,000.00
500.00 close
0.00
27- 26- 25- 24- 20-
Feb- Feb- Feb- Feb- Feb-
09 09 09 09 09
*A fall of Rs.128
55
2,200.00
2,100.00
high
2,000.00
low
1,900.00
1,800.00 close
1,700.00
19- 18- 17- 16- 13-
09 09 09 09 09
*A rise of Rs.82 in a week.
2,500.00
2,000.00
high
1,500.00
low
1,000.00
500.00 close
0.00
12- 11- 10- 9- 6-
09 09 09 09 09
*A Rise of Rs.555 in a week.
56
2,000.00
1,500.00 high
1,000.00 low
500.00 close
0.00
5- 4- 3- 2-
Feb- Feb- Feb- Feb-
09 09 09 09
*A fall of Rs.304.
57
27
-
26 Feb
- -
0.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
25 Feb 09
- -
24 Feb 09
- -
20 Feb 09
- -
Support level – 1650.28

19 Feb 09
- -
Resistance level – 1832.56

18 Feb 09
- -
17 Feb 09
- -
16 Feb 09
- -
13 Feb 09
- -
12 Feb 09
- -
11 Feb 09
- -
Support level
10 Feb 09
-F - 0
Resistance level
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
b-
09
Low
High
Close
58
January

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

th
20 Jan Shares of Educomp Solutions crashed on allegations
About the company fudging its books.

th
9 Jan Educomp Solutions, India’s 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 high
1,700.00 low
1,650.00 close
1,600.00
1,550.00
30- 29- 28- 27- 23-
Jan- Jan- Jan- Jan- Jan-
09 09 09 09 09
*A Rise of Rs.45 within a week
60
2,500.00
2,000.00
high
1,500.00
low
1,000.00
500.00 close
0.00
22- 21- 20- 19- 16-
09 09 09 09 09
*Rise of Rs.306 in a week
2,500.00
2,000.00
high
1,500.00
low
1,000.00
500.00 close
0.00
15- 14- 13- 12- 9-
09 09 09 09 09
61
30
-
29 Ja n
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
500.00
- -0
0.00
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- n-
Ja 09
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
0.00
7- n -
J 0
7-
09
6- an - 9
J 0
5- an - 9
6-
09
Ja 09
2- n -
J 09
5-
09
1- an -
Ja 09
n-
2-
09
09
1-
09
Low
High
Close
low
high
62
close
December
Volum
Date Open High Low Close
e
2,423.0 2,478.9 2,385.5 2,403.5
31-Dec-08 392,500
0 0 5 5
2,475.0 2,490.1 2,368.4 2,396.3
30-Dec-08 518,200
0 0 0 0
2,400.0 2,488.0 2,360.0 2,455.3
29-Dec-08 413,100
0 0 0 5
2,525.0 2,590.0 2,383.0 2,409.3
26-Dec-08 512,500
0 0 0 5
2,601.2 2,636.0 2,520.0 2,564.5
24-Dec-08 537,300
0 0 0 0
2,760.0 2,775.0 2,590.0 2,627.1
23-Dec-08 559,600
0 0 0 0
2,715.0 2,865.0 2,680.1 2,804.1
22-Dec-08 548,200
0 0 0 5
2,580.0 2,774.0 2,571.2 2,732.4
19-Dec-08 659,300
0 0 0 0
2,325.0 2,674.0 2,305.2 2,615.7
18-Dec-08 704,200
0 0 5 5
2,340.0 2,433.0 2,291.3 2,323.7
17-Dec-08 677,200
0 0 0 5
2,125.0 2,324.0 2,099.9 2,298.9
16-Dec-08 678,000
0 0 5 0
2,100.0 2,192.2 2,100.0 2,134.7
15-Dec-08 338,100
0 5 0 5
12-Dec-08 2,150.0 2,159.8 2,050.0 2,088.1 508,700
63
0 0 0 5
2,167.0 2,294.0 2,127.0 2,219.5
11-Dec-08 655,700
0 0 0 5
2,112.8 2,195.0 2,075.0 2,167.6
10-Dec-08 560,800
0 0 0 0
2,190.0 2,224.7 2,087.3 2,112.8
8-Dec-08 580,900
0 0 0 0
2,265.1 2,265.1 2,061.0 2,104.8
5-Dec-08 845,700
0 0 0 0
2,105.0 2,305.0 2,043.3 2,246.8
4-Dec-08 818,300
0 0 5 5
2,110.0 2,186.0 2,001.1 2,073.4
3-Dec-08 705,100
0 0 5 5
2,111.6 2,134.0 1,982.1 2,098.4
2-Dec-08 624,600
5 0 5 5
2,249.0 2,361.0 2,150.0 2,190.6
1-Dec-08 726,300
0 0 0 5
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
in EducationISTE"
11th Dec ‘ROOTS TO WINGS’ has been awarded 'Emerging Fran-
chisor 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
high
2,500.00
low
2,400.00
2,300.00 close
2,200.00
31- 30- 29- 26- 24-
Dec- Dec- Dec- Dec- Dec-
08 08 08 08 08
3,500.00
3,000.00
2,500.00 high
2,000.00
1,500.00 low
1,000.00 close
500.00
0.00
23- 22- 19- 18- 17-
08 08 08 08 08
*A rise of Rs.304
2,400.00
2,300.00
high
2,200.00
low
2,100.00
2,000.00 close
1,900.00
16- 15- 12- 11- 10-
08 08 08 08 08
*A rise of Rs.131.
65
31
-
30 De
- c
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
500.00
0.00
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
*A Fall of Rs.78 in a week
11 De -0 8
- c
10 De -0 8
1,800.00
1,900.00
2,000.00
2,100.00
2,200.00
2,300.00
2,400.00
-D c -0
8-
08
8- ec 8
D -0
5- ec 8
5-
08
D -0
4- ec 8
D -0
4-
08
3- ec 8
D -0
2- ec 8
3-
D -0
08
1- ec 8
D -0
2-
ec 8
08
-0
8
low
high
close
66
Low
High
Close
November

28-Nov-08 2,010.00 2,370.00 1,958.00 2,261.45 689,700
26-Nov-08 2,045.00 2,085.00 1,961.50 2,059.30 641,500
25-Nov-08 1,880.00 2,055.70 1,850.00 2,020.90 717,400
24-Nov-08 1,784.90 1,861.00 1,685.00 1,839.25 682,800
21-Nov-08 1,800.00 1,848.90 1,660.00 1,785.40 730,200
20-Nov-08 1,819.90 1,825.00 1,627.00 1,752.20 750,800
19-Nov-08 2,350.00 2,406.90 1,875.00 1,928.65 467,700
18-Nov-08 2,301.00 2,395.00 2,242.35 2,342.90 254,900
17-Nov-08 2,419.00 2,469.00 2,268.00 2,350.00 187,700
14-Nov-08 2,499.00 2,585.00 2,400.00 2,428.70 218,800
12-Nov-08 2,450.00 2,575.00 2,390.00 2,428.90 282,900
11-Nov-08 2,600.00 2,700.00 2,460.00 2,512.55 208,500
10-Nov-08 2,611.00 2,749.00 2,605.00 2,728.40 188,600
7-Nov-08 2,400.00 2,610.00 2,340.00 2,556.60 269,200
6-Nov-08 2,500.00 2,600.00 2,402.00 2,434.30 280,400
5-Nov-08 2,600.00 2,825.00 2,600.00 2,685.45 383,700
4-Nov-08 2,624.95 2,669.95 2,452.20 2,610.60 306,300
3-Nov-08 2,300.00 2,700.00 2,280.00 2,600.50 401,800
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
for the second quarter of the fiscal year 2009.

th
8 Nov 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
slew of private and public-run schools.

3rd Nov 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
high
1,500.00
low
1,000.00
close
500.00
0.00
28- 26- 25- 24- 21-
Nov- Nov- Nov- Nov- Nov-
08 08 08 08 08
68
3,000.00
2,500.00
2,000.00 high
1,500.00 low
1,000.00 close
500.00
0.00
19- 18- 17- 14- 12-
08 08 08 08 08
3,000.00
2,500.00
2,000.00 high
1,500.00 low
1,000.00 close
500.00
0.00
10- 7- 6- 5- 4-
08 08 08 08 08
*A Rise of Rs.128 in a week
69
28
-N
26 ov
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
500.00
0.00
-N -0
8
25 ov
-N - 0
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
70
Low
High
Close
October

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

th
7 Oct 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 high
0.00 low
31- 29- 28- 27- 24- close
Oct- Oct- Oct- Oct- Oct-
08 08 08 08 08
*A rise of Rs.447
2,500.00
2,000.00
1,500.00
1,000.00 high
500.00
0.00 low
23- 22- 21- 20- 17- close
08 08 08 08 08
*A rise of Rs.227 in the week
72
3,000.00
2,000.00
1,000.00 high
0.00 low
16- 15- 14- 13- 10- close
08 08 08 08 08
*A fall of 184 in a week
4,000.00
3,000.00
2,000.00 high
1,000.00
0.00 low
8- 7- 6- 3- 1- close
08 08 08 08 08
*A Fall of Rs.870 in a week.
73
31
-O
29 ct
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
4,000.00
0.00
500.00
-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
Low
High
Close
74
September

30-Sep-08 3,150.00 3,401.00 3,102.00 3,381.60 107,900
29-Sep-08 3,300.00 3,314.00 3,130.00 3,265.40 115,200
26-Sep-08 3,450.00 3,478.00 3,240.00 3,313.30 95,200
25-Sep-08 3,550.00 3,550.00 3,370.10 3,434.20 83,900
24-Sep-08 3,520.00 3,630.00 3,502.00 3,526.85 84,200
23-Sep-08 3,650.00 3,690.00 3,465.10 3,497.10 105,900
22-Sep-08 3,725.00 3,810.00 3,670.05 3,703.10 167,500
19-Sep-08 3,396.00 3,880.00 3,371.00 3,628.10 107,000
18-Sep-08 3,200.00 3,370.00 2,985.00 3,314.30 125,900
17-Sep-08 3,510.00 3,520.00 3,290.00 3,319.75 740,900
16-Sep-08 3,330.00 3,520.00 3,220.00 3,488.55 89,000
15-Sep-08 3,579.70 3,579.70 3,330.00 3,408.20 80,200
12-Sep-08 3,630.00 3,699.00 3,585.50 3,604.85 89,300
11-Sep-08 3,570.00 3,640.00 3,500.00 3,591.65 112,400
10-Sep-08 3,605.00 3,707.00 3,510.00 3,539.45 92,400
9-Sep-08 3,727.70 3,730.00 3,605.00 3,625.00 56,200
8-Sep-08 3,809.00 3,848.00 3,715.00 3,729.30 51,700
5-Sep-08 3,747.00 3,769.00 3,683.00 3,700.25 46,200
4-Sep-08 3,925.00 3,925.00 3,789.80 3,821.05 88,900
2-Sep-08 4,015.00 4,020.00 3,845.00 3,921.35 148,300
1-Sep-08 3,770.00 4,020.00 3,710.00 3,989.65 230,200
News in the month of September
26th Sept. Educomp gets Rs 109-cr contract from
Karnataka Govt
th
18 Sept 22 Indian companies, including Educomp Solutions,
Jain Irrigation and Glenmark Pharmaceuticals, have
been named in the latest '200 Best under a Billion'
75
list for the Asia-Pacific region by US magazine Forbes
th
16 Sept Educomp Solutions has partnered with Intel, Dell and
Acer to drive up the use of technology into classroom
teaching and learning in schools across India.

11th Sept 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 high
3,000.00
2,800.00 low
30- 29- 26- 25- 24- close
Sep- Sep- Sep- Sep- Sep-
08 08 08 08 08
76
5,000.00
4,000.00
3,000.00
2,000.00 high
1,000.00
0.00 low
23- 22- 19- 18- 17- c los e
S ep- S ep- S ep- S ep- S ep-
08 08 08 08 08
*A rise of Rs.178 in a week.
3,800.00
3,600.00
3,400.00
3,200.00 high
3,000.00
2,800.00 low
16- 15- 12- 11- 10- c los e
S ep- S ep- S ep- S ep- S ep-
08 08 08 08 08
*A fall of Rs.51
77
4,200.00
4,000.00 high
3,800.00
3,600.00 low
3,400.00 c los e
3,200.00
9- 8- 5- 4- 2-
S ep- S ep- S ep- S ep- S ep -
08 08 08 08 08
4,500.00
4,000.00
3,500.00
3,000.00
High
2,500.00
Low
2,000.00
Close
1,500.00
1,000.00
500.00
0.00
25 ep 0 8
24 Sep 8
22 ep 0 8
18 Sep 0 8
17 Sep 0 8
15 Sep 0 8
12 Sep 0 8
10 ep 0 8
Se 0 8
26 Sep 0 8
23 Sep 0 8
19 Sep 8
16 Sep 8
11 Sep 0 8
5- e p- 8
2- e p- 8
1- e p- 8
08
S 08
Se 08
S 0
S 0
S 0
- -0
- -0
- -0
-S -0
8- p-
4- e p-
p-
- -
-S -
-S -
- -
- -
- -
- -
-S -
9- ep-
- -
- -
29 ep
-S
30
78
August

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

th
14 Aug "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 high
3,600.00
3,400.00 low
3,200.00
3,000.00 close
2,800.00
29- 28- 27- 26- 25-
Aug- Aug- Aug- Aug- Aug-
08 08 08 08 08
3,500.00
3,400.00
3,300.00 high
3,200.00 low
3,100.00 close
3,000.00
2,900.00
22- 21- 20- 19- 18-
08 08 08 08 08
80
3,700.00
3,600.00
3,500.00 high
3,400.00 low
3,300.00 close
3,200.00
3,100.00
14- 13- 12- 11- 8-
08 08 08 08 08
*There is no rise or fall in this 5days
3,500.00
3,400.00
3,300.00 high
3,200.00 low
3,100.00 c los e
3,000.00
2,900.00
7- 6- 5- 4- 1-
A ug- Aug- A ug- A ug- A ug-
08 08 08 08 08
81
4,500.00
4,000.00
3,500.00
3,000.00
High
2,500.00
Low
2,000.00
Close
1,500.00
1,000.00
500.00
0.00
27 ug 8
22 ug 8
20 ug 8
19 ug 8
14 ug 8
13 ug 8
11 ug 8
8
26 ug 8
25 ug 8
21 ug 8
18 ug 8
12 ug 8
A 8
A 08
Au 08
A 08
Au 08
A 08
08
-A -0
-A -0
-A -0
-A -0
-A -0
-A -0
-A -0
-A -0
-A -0
-A -0
-A -0
-A -0
-A -0
8- ug-0
7- u g-
6- u g-
5- u g-
4- g-
1- u g-
g-
28 ug
-A
29
July

31-Jul-08 3,152.00 3,248.80 3,066.15 3,184.20 70,300
30-Jul-08 3,001.00 3,155.00 3,001.00 3,126.55 101,100
29-Jul-08 2,890.00 3,050.00 2,860.00 2,935.30 93,200
28-Jul-08 3,017.10 3,050.00 2,840.10 2,945.10 123,800
25-Jul-08 3,300.00 3,300.00 2,950.00 2,992.85 169,800
24-Jul-08 3,575.00 3,589.00 3,280.00 3,367.95 69,400
23-Jul-08 3,102.00 3,579.90 3,102.00 3,518.05 104,000
22-Jul-08 2,922.00 3,070.00 2,881.00 3,036.10 56,600
21-Jul-08 2,859.60 2,945.00 2,756.00 2,921.45 38,800
18-Jul-08 2,820.00 2,875.10 2,685.00 2,851.55 56,200
82
17-Jul-08 2,815.00 2,851.45 2,745.00 2,779.80 43,200
16-Jul-08 2,751.45 2,775.00 2,576.00 2,739.10 98,000
15-Jul-08 2,761.00 2,785.00 2,672.00 2,699.60 113,100
14-Jul-08 2,701.00 2,845.00 2,683.00 2,809.75 44,800
11-Jul-08 2,850.00 2,865.00 2,720.00 2,738.40 62,300
10-Jul-08 2,838.00 2,875.00 2,725.00 2,798.95 57,300
9-Jul-08 2,649.90 2,889.00 2,649.90 2,841.75 52,400
8-Jul-08 2,650.00 2,669.00 2,575.00 2,603.45 29,100
7-Jul-08 2,818.90 2,850.00 2,670.00 2,717.50 41,100
4-Jul-08 2,700.00 2,869.00 2,685.00 2,784.60 79,000
3-Jul-08 2,694.00 2,845.00 2,505.00 2,775.95 88,600
2-Jul-08 2,355.00 2,800.00 2,347.00 2,711.60 110,000
1-Jul-08 2,599.70 2,599.70 2,320.00 2,384.00 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
learning centers in cities across India."

th
11 July "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 high
2,000.00 low
1,000.00 close
0.00
31- 30- 29- 28- 25- 24-
Jul- Jul- Jul- Jul- Jul- Jul-
08 08 08 08 08 08
*A fall of Rs.183 in this week
4,000.00
3,000.00 high
2,000.00 low
1,000.00 close
0.00
23- 22- 21- 18- 17- 16-
08 08 08 08 08 08
84
3,000.00
2,900.00
2,800.00 high
2,700.00 low
2,600.00 close
2,500.00
2,400.00
15- 14- 11- 10- 9- 8-
08 08 08 08 08 08
*A rise of Rs.96
3,500.00
3,000.00
2,500.00 high
2,000.00
1,500.00 low
1,000.00 close
500.00
0.00
7- 4- 3- 2- 1-
Jul- Jul- Jul- Jul- Jul-
08 08 08 08 08
4,000.00
3,500.00
3,000.00
2,500.00 High
2,000.00 Close
1,500.00 Low
1,000.00
500.00
0.00
28 -Ju - 08
25 -Ju - 08
22 -Ju - 08
16 -Ju 08
14 -Ju - 08
10 -Ju 08
8- ul- 8
29 -Ju 08
24 -Ju 08
23 -Ju 08
21 -Ju - 08
18 -Ju 08
17 -Ju 08
15 -Ju - 08
11 -Ju 08
9- u l- 8
7- ul- 8
4- ul- 8
3- ul- 8
2- ul- 8
1- ul- 8
Ju 08
8
J 0
J 0
J 0
J 0
J 0
J 0
l- 0
-J l- 0
l-
l-
l-
l-
l-
l-
l-
l-
l
l
l
l
l
l
30 -Ju
31
85
June

30-Jun-08 2,835.00 2,835.00 2,569.00 2,587.85 51,800
27-Jun-08 2,900.00 2,940.00 2,810.00 2,840.95 31,800
26-Jun-08 2,920.00 3,057.00 2,900.00 2,958.70 105,000
25-Jun-08 2,401.00 2,949.00 2,401.00 2,878.30 80,000
24-Jun-08 3,297.70 3,310.00 2,931.00 2,988.90 56,400
23-Jun-08 3,320.00 3,390.00 3,200.00 3,308.45 50,100
20-Jun-08 3,450.05 3,479.70 3,300.05 3,311.90 17,200
19-Jun-08 3,540.00 3,575.00 3,425.00 3,443.65 12,600
18-Jun-08 3,750.00 3,750.00 3,590.50 3,610.55 26,100
17-Jun-08 3,525.00 3,710.00 3,520.10 3,675.55 70,500
16-Jun-08 3,499.00 3,572.00 3,478.80 3,530.85 15,600
13-Jun-08 3,467.00 3,510.00 3,405.10 3,450.90 25,400
12-Jun-08 3,380.00 3,500.00 3,348.00 3,459.20 29,600
86
11-Jun-08 3,385.00 3,525.90 3,385.00 3,448.90 19,100
10-Jun-08 3,385.00 3,435.00 3,292.05 3,372.90 22,600
6-Jun-08 3,540.00 3,640.00 3,456.00 3,497.10 25,000
5-Jun-08 3,650.00 3,695.00 3,445.10 3,495.95 64,600
4-Jun-08 3,775.00 3,819.70 3,625.00 3,653.70 36,800
3-Jun-08 3,800.00 3,849.00 3,750.00 3,793.35 29,700
2-Jun-08 3,975.00 4,065.00 3,860.00 3,870.05 45,900
3,500.00
3,000.00
2,500.00 high
2,000.00
low
1,500.00
1,000.00 close
500.00
0.00
30- 27- 26- 25-
Jun-08 Jun-08 Jun-08 Jun-08
*A fall of Rs.291
4,000.00
3,000.00 high
2,000.00 low
1,000.00 close
0.00
24- 23- 20- 19- 18-
Jun- Jun- Jun- Jun- Jun-
08 08 08 08 08
87
*A fall of Rs.622
3,800.00
3,700.00
3,600.00 high
3,500.00
3,400.00 low
3,300.00 close
3,200.00
3,100.00
17- 16- 13- 12- 11-
08 08 08 08 08
*A Rise of Rs.227
4,000.00
3,800.00
high
3,600.00
low
3,400.00
3,200.00 close
3,000.00
10- 6- 5- 4- 3-
08 08 08 08 08
*A Fall of Rs.421
88
4,500.00
4,000.00
3,500.00
3,000.00
High
2,500.00
Low
2,000.00
Close
1,500.00
1,000.00
500.00
0.00
Ju 08
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
5- un - 8
4- un - 8
3- un - 8
2- un - 8
08
J 0
J 0
J 0
J 0
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
6- u n-
n-
- -
27 Ju n
-
30
Relation with competitors
Last Price Market Cap. Sales Net Profit Total Assets
(Rs. cr.) Turnover

Educomp Sol 2,995.00 5,181.60 496.72 128.23 654.08
NIIT 59.80 986.60 467.38 32.77 445.35
Aptech 195.50 909.11 116.43 4.75 146.57
Everonn Systems 378.85 572.84 91.23 14.05 140.63
Edserv Softsyst 26.85 32.24 - - 8.07
Software Tech 11.55 15.71 45.76 3.20 33.88
89
Changes in price level from 06-09
Month Price(Rs.)
January’06 125
January’07 1004
December’07 4310
January’08 5678
October’08 1525
January’09 1784
April’09 2486
May’09 2823
Price Fluctuations within years
Price increased from Rs.125 in jan’06 to Rs.5678 in jan’08 , 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 jan’09 to Rs.2486 in Apr’09
There is an rise from april’09 Rs.2486 to may’09 Rs.2823
90
Price(Rs.)
6000
5000
4000
3000 Price(Rs.)
2000
1000
0
nu 0 6
ct y’08
09
7
8
nu 07
09
em ’0
Ja er’0
y’
Ja ry’
r’
ec ary
il’
be
ar
ar
pr
a
ob
nu
nu
A
Ja
Ja
O
D
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'être 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

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“A Study on the Equity valuation”

Under the Guidance of

Reporting Boss- Mr. Sachin Gupta.

GULF BULLS SECURITIES PVT

Submitted to: Submitted by:

I hereby declare that the project report conducted

Under the guidance of

Mr. Sachin Gupta (Equity Manager)

Submitted in partial fulfillment of the requirements

Is the original work and the same has not been

people and their diversified need satisfaction level.

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 COULDN’T 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.

ORIGINAL AND AUTHENTICATED.

Sl. No. Topic Page No.

necessary to track the changes in the price.

THE ROLLERCOASTER RIDE OF INDIA’S

after a record 9.8% growth in 2006-07

But economy continues to roar

reaching its stongest position in several

a surge in foreign capital inflows.

Government announces a Rs.66000 cr. Farm loan waiver scheme.

In the US grows into a global crisis

some signs of recovery.

Q1- April – June

Q2- July – September

Q3- October – December

Q4- January – March

NAME POSITION PLANS

gas minister petroleum products at all time

the focus. There will be speed up in

the implementation of existing ultra

mega power projects.

industry minister incentives for exporters.

to handle the various divisions of the company.

offered by these markets.

well furnished and fully computerized, driven by the well-qualified professionals.

Mr. VIVEK RANA Chairman / Managing Director

Mr RAJIV BALHARA Director

Mr. YAJUR CHAUDHARY Director

Mr. RAJNEESH AGARWALA Director

Mr. VIPIN KUMAR Director

Mr. GAJRAJ SINGH Director

Mr. ANIL KAUSHIK Director

Products of Gulf Bulls Securities

Portfolio Management Services