May - 2019 (Volume-9 ~ Issue-5 ~ Series-13)

Paper Type :: Research Paper
Title :: A Study on Factors Affecting Stock Returns for Listed Pharmaceutical Companies in India
Country :: India
Authors :: Ms. ProtushaBera || Dr. Sujit G Metre
Page No. :: 01-04

This research basically focus on establishing relation between movement of stock price according to macro-economic data and calculating beta, alpha over 10 year data from 2009-2018. Observing the trend of stock price movement and tracking on monthly basis with comparison to market so as to establish some relation between them and to recognize the relation between alpha, beta and P.E of pharmaceutical stock in Indian capital market.This sort of research is expected to take up the financial inclusion agenda from inclusion to financial wellbeing level.

Key words: Alpha, beta, financial wellbeing,macro-economic data, PE, stock returns

[1]. AshisMohanty, Pharmaceutical Industry in India: A Brief Report during, 2001-2010, Quest Journals, Journal of Research in Business and Management, Volume 2 ~ Issue 9 (2014) pp: 56-61, ISSN(Online) : 2347-3002, *Corresponding Author: Mr. AshisMohanty 56 | Page, Sr.Lecturer in MbaBhadrak Institute of Engineering & Technology, Barapada, Bhadrak .
[2]. Dr.Prameela S. Shetty, Dr.Devaraj K, Risk and Return Analysis of Pharmaceutical Industry, Volume 1, Issue 1 , September 2017, ISSN 2456 – 9151.
[3]. Dana-Maria BOLDEANU, Irina-BogdanaPUGNA, The analysis of the influence factors affecting the performance of pharmaceutical companies, Theoretical and Applied Economics Volume XXI (2014), No. 7(596), pp. 23-42
[4]. Fama, Eugene F. and French, Kenneth R., The Capital Asset Pricing Model: Theory and Evidence (August 2003). CRSP Working Paper No.550; Tuck Business School Working Paper No. 03-26. Available at SSRN: or
[5]. KolaniPamane1&AnaniEkoueVikpossi2, An Analysis of the Relationship between Risk and Expected Return in the BRVM Stock Exchange: Test of the CAPM, Vol. 5, No. 1; 2014.

Paper Type :: Research Paper
Title :: Stock Selection Skills of Indian Mutual Fund Managers-An Empirical Study of Thematic-Infrastructure Mutual Fund schemes
Country :: India
Authors :: Dr. Jaspal Gidwani || Prof. Amar Satijani
Page No. :: 05-10

Bundle of Investment avenues are available for Today's Investors in this financial world, ranging from Equity Stock investments to Gold, From Real Estate to Fixed Deposit and From Mutual Funds to Investments in Commodities. Based on Risk craving & return desire, Investors can choose from these investment options. As small investors generally do not have adequate time, knowledge, experience & resources for directly accessing the capital market, they have to rely on an intermediary, which undertakes informed investment decisions & provides consequential benefits of professional proficiency. Therefore Mutual Fund has been developed for such kind of investors through which they can have also access to capital Market indirectly. A mutual fund is the most suitable investment for the common investor as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost..............

Key words: Mutual Funds, Infrastructure Equity Mutual Funds, Stock Selectivity

[1]. Henriksson, R., 1984. Market timing and mutual fund performance: an empirical investigation. Journal of Business. 57, pp. 73–96.
[2]. Shah, Ajay and Thomas Susan, (1994) "Performance in Evaluation of Professional Portfolio Management in India", A paper prepared by CMIE, 10 April.
[3]. Dellva, L.W., DeMaskey, A.L., Smith, C.A. 2001. Selectivity and market timing performance of fidelity sector mutual funds. The Financial Review 36, pp. 39-54.
[4]. Mishra, Biswadeep (2002), "Selectivity and Timings Skills of Mutual Funds in India: An Empirical Analysis", The ICFAI Journal of Applied Finance, Vol. 8, No. 5, pp 5-16.
[5]. Tripathy, Nalini Prava, (2004) "An Empirical Analysis of Performance Evaluation of Mutual Funds in India-A Study on Equity Linked Schemes" The ICFAI Journal of Applied Finance, July 2004.
[6]. Kundu, Abhijit (2009), "Stock Selection Performance of Mutual Fund Managers in India: An Empirical Study", Journal of Business and Economic Issues, Vol. 1, No. 1, pp 59-73
[7]. Kaushik, A., Barnhart, S., Pennathur, A. 2010.Market timing and the determinants of Performance of sector funds over the business cycle. Managerial Finance 36, pp. 583-602.

Paper Type :: Research Paper
Title :: Comparative Study of Axis Bank & Yes Bank Using Ratio Analysis
Country :: India
Authors :: Mayuri Ingole || Diksha Shende
Page No. :: 11-19

The present study of the research entitled "Comparative Study of Ration Analysis Yes Bank And Axix Bank". The study was based on secondary data from records, reports and profile of the organization. The validity of any research is based on the systematic method of data collection analysis. The Ratio analysis is the process of identifying the financial soundness and cost effectiveness of the firm by establishing relationship between the items of balance sheet and profit and loss a/c. The present study has thrown major concentration in ratio analysis, from the 5years balance sheet and profit and loss a/c. An objective of the study includes the profitability, cost of goods sold and other experience company overall financial performance of the company. Short term-long term position of the company. Based on the five years balance sheet and profit and loss a/c suitable suggestion were given by the researcher for a better soundness and cost effectiveness of the company. Keywords : Yes Bank & Axix Bank, Financial Performance, Ratio, Soundness, Comparision.

[1]. I.M.Pandey: Financial management
[2]. M.Y.Khan & P.K.Jai : Financial Management
[3]. S.P. Jain & K.L. Narang : Cost & Management A/c
[4]. K.Rajeswara rao & G. Prasad : Accounting & Finance
[5]. P.Kulakarni : Financial Management

Paper Type :: Research Paper
Title :: Comparative study of financial gain of the organization with respect to performance appraisal system" {Selected organizations under study: Headstart manpower consultants & Iconic consultants}
Country :: India
Authors :: Ashwini Borkar
Page No. :: 20-27

A comparative study is being made of financial gain with respect to performance appraisal, in this paper two recruitment consultants are being surveyed namely Headstart manpower consultants and Iconic Consultants. The process of appraisals with respect to their performance are being measured by studing different parameters like career growth , satisfaction , development , work culture , organization structure etc. An questionnaire interview is being taken from both the consultants from all hierarchy members and the study is being made on how the performance appraisal affects the Fiancial gain of both the consultants

Key words: Headstart , Iconic , Performance appraisal , Financial gain

[1]. Donald L Kirkpatrick , 20006, Improving Employee Performance through Appraisal
[2]. Richard Rudman , 2003 , Performance Planning &Review

Paper Type :: Research Paper
Title :: A study of consumer attitude and their buying behavior towards Maruti Suzuki cars in Nagpur city
Country :: India
Authors :: Vijay Dhote
Page No. :: 28-36

The intent of the research paper is to find out the major factors which are responsible for influencing the preference of customer to purchase the car. The facilities, self-esteem, performance, publicity and service orientation are the factors affecting customer preference for light motor vehicle (Maruti Suzuki) cars. The factor analysis shows that facilities, self-esteem, performance, publicity and service orientation influencing the customer overall preference about light motor vehicle cars, the more factor loading is associated with the selfesteem factor.Therefore, the car manufacturers should emphasize on self-esteem factors which consist of comfort, style and model variants as by and of itself customers will have a superior recognition of aspect of the brand. The majority of customers prefer Maruti Suzuki brand of car in Nagpur city. There is tough competitions in the market so it is must to always studied and launch the cars according to the customer's preference.

Key words: Maruti Suzuki, customer satisfaction Marketing Product Quality

[1]. Marketing management – DR. RanjanSaxena, edition 2008, marketing research and information system, page 112
[2]. Research methodology- CR. Kothari, methods of data collection, page 95.
[3]. Advantage guide (Arya Cars Automotive).

Paper Type :: Research Paper
Title :: M2 – An Inclusive Measure of Portfolio Risk Adjusted Return
Country :: India
Authors :: Ms. Tejaswini Bhati || Dr. Pranay Parashar
Page No. :: 37-42

The aim of this study is to determine whether M2 is the most comprehensive risk adjusted return measure for evaluating portfolio performance or not. To conduct this study, the researcher has compared four risk adjusted return measures to evaluate risk adjusted returns of portfolios as given in the top10 Indian diversified equity mutual fund schemes (2009-2018). The measures are Sharpe Ratio, Treynor Ratio, Jensen's Alpha and Modigliani and Modigliani Measure (M2). In the Indian mutual fund industry, there are 53 diversified equity mutual fund schemes according to a CRISIL report as on 31st March 2018. The data for this study spans over a 10 year period i.e. from January 2009 to December 2018. The researcher has selected top...........

Key words: Sharpe Ratio, Treynor Ratio, Jensen's Alpha, M-squared, Rolling Returns, Total Returns Index (TRI)

[1]. CFA® Program Curriculum 2018. Corporate Finance and Portfolio Management Book (Reading 42 Portfolio Risk and Return: Part II)
[2]. Shivangi Agarwal and Nawazish Mirza (2017).A Study on the Risk-Adjusted Performance of Mutual Funds Industry in India
[3]. Md. Bokhtiar Hasan, and A. F. M. Mainul Ahsan, ―Can Mutual Funds Outguess the Market: Evidence from Bangladesh?‖ Journal of Finance and Accounting, vol. 4, no. 1 (2016): 11-19. doi: 10.12691/jfa-4-1-2.
[4]. Krzysztof Duda and Pavlo Batyuk (2009).Performance and Risk Evaluation of Danish Mutual and Hedge Funds.Aarhus School of Business University of Aarhus 2009
[5]. Deborah Kidd, CFA(2011). Measures of Risk-Adjusted Return: Let's Not Forget Treynor and Jensen. Investment Performance Measurement

Paper Type :: Research Paper
Title :: Payment Banks Institutions' Innovation for Inclusion
Country :: India
Authors :: Dr. Smita Rao || Dr. Hetal Gaglani
Page No. :: 43-52

Financial inclusion is very important for the stable and economic growth of any country this can be achieve through active participation of banks. With the vision to reach every nook and corner of the country there are 164 Scheduled Commercial Banks (scbs) - 21 Public Sector Banks, 22 Private Banks and 44 foreign banks,56 regional rural banks, 3 local area banks 1,562 urban cooperative banks and 94,384 rural cooperative banks, but still rural part of country do not have access to formal financing. RBI gave license to payments banks to provide small savings accounts, payments and remittance services to migrant labour workforce, low income households, small businesses, other unorganised sector entities and other users. This paper highlights the licensing and features of various payments banks. The paper recapitulates the role of payments banks in financial inclusion. This paper also highlighted the challenges faced by payments banks and suggestions to rise above the challenges are also discussed.

Key words: Financial Inclusion, innovations, Payments Bank, Scheduled Commercial Bank, RBI

[1]. Joseph, J, and Varghese, T. 2014. ―Role of Financial Inclusion in the Development of Indian Economy,‖ Journal of Economics and Sustainable Development, Vol.5, No.11. ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online).
[2]. Raghuram Rajan Committee. 2007. ―A Hundred Small Steps Report of the Committee on Financial Sector Reforms,‖ SAGE Publications India Pvt Ltd.
[3]. Monalisa. 2015. ―Financial Inclusion in Rural Areas of District Hisar‖, International Journal of Research and Development - A Management Review (IJRDMR), ISSN (Print): 2319–5479, Volume-4, Issue–1, 2015
[4]. Teena Shivnani & Samiksha Siwach. 2017. ―Customer Opinion towards Airtel Payment Banks in India: An Analytical Study‖, Proceedings of the Thirteenth Asia-Pacific Conference on Global Business, Economics, Finance and Banking (AP17Singapore Conference) ISBN: 978-1-943579-73-0 Singapore. 3-5, August 2017. Paper ID: S712 1

Paper Type :: Research Paper
Title :: A Study of Ratio Analysis at Raymond Textile (Chhindwada Mp)
Country :: India
Authors :: Anis Pathan || Akshay Adhau
Page No. :: 53-56

Ratio analysis is much different. Ratio analysis compares relationships between financial statement accounts. This means that one income statement or balance sheet account is being compared to another. These relationships between financial statement accounts will not only give a manager or investor an idea of the how healthy the business is on a whole, it will also give them keen insights into business operations. The main objectives of this study is to find out Ratio analysis which help in evaluation of financial position of company, Interpret the financial statement so that the strength and weakness of a firm. Ratio analysis also helps to determined historical performance and current financial condition of company and it help throw light on a long term solvency of a firm.............

Key words: Study of Ratio Analysis Raymond Chhindwara, Solvency, & liquidity.

[1]. C R Kothari,Research Methodology methods and technique.,
[2]. Ravi M. Kishore " Financial Management" 6th edition
[3]. Bhagavat i & Pillai Management Accounting
[4]. Dr.S.N.Maheshwari " Financials Analysis and Planning‟‟

Paper Type :: Research Paper
Title :: An approach to benefit an organisation: with Global mindset and Global Leadership dimensions
Country :: India
Authors :: Sanjeev Shrivastava || Sanchal Tarode
Page No. :: 57-60

This paper explores and proposes a conceptual approach for an organisations to foster and instil the dimensions of global mindset and global leadership in the competitive and expanding global era. The proposed concept will able an organisation to conceptualise the current organisational situation & constraints and help to frame a structured approach to make a global impact. The paper discusses the terminology of global mindset and global leadership competencies with the inferences from various case studies. Further, a concept of four parameters is proposed in view to instil the global mindset in various organisations with a defined methodology to achieve it. The proposed parameters defines the related global leadership competencies to be imparted. The concept develops a strategic perspective to synergise and cope up with the diversified global environment and review their approaches to various spheres of the business and use them in turning a constraint into opportunity. The approach is an effort to not only develop and strengthen the global perspective in the domestic organisation but also to boost the loss making units to strategies with global mindset.

Key words: Global Mindset, Global Leadership competencies, Globalisation

[1]. India Post losses touch Rs 15,000 crore in FY19; replaces Air India, BSNL as biggest loss- making PSU. (15 Apr'19).
[2]. Retrieved from
[3]. Kiran Mazumdar - Shaw retrieved from
[4]. Wim den Dekkar, Prof. Dr. Paul G.W.Jansen and Dr. Claartje Vinkenburg; Dimensions of an Individual Global Mindset; Serie Research Memoranda 0014, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. (2005)
[5]. Maria Cseh, Elizabeth B. Davis and Shaista E. Khilji; Developing a Global Mindset: Learning of Global Leaders; European Journal of Training and Development Vol. 37 No. 5, 2013 pp. 489-499

Paper Type :: Research Paper
Title :: A Comparative Study of Customer Satisfaction With Reference To Lakme and Revlon
Country :: India
Authors :: Gurupreet Saddal
Page No. :: 61-64

Lakmé is an Indian cosmetics brand which is owned by Hindustan Unilever. Having Kareena Kapoor as the ambassador, it ranked at number 1 among the cosmetics brands in India. Lakmé started as a 100% subsidiary of Tata Oil Mills (Tomco). It was named after the FrenchoperaLakmé, which itself is the French form of Lakshmi (the goddess of wealth) who is renowned for her beauty. It was started in 1952 famously, because the Prime Minister Jawaharlal Nehru was concerned that Indian women were spending precious foreign exchange on beauty products and personally requested JRD Tata to manufacture them in India. Simone Tata joined the company as director and went on to become the chairperson. In 1996, Tata sold off their stakes in Lakmé Lever to HLL, for Rs 200 Crore(45 million US$).............

Key words: Lakme , Revlon, Products, brand, company.

[1]. Philip Kotler, "Marketing Management", 11th edition, Pearson education Asia Publication.
[2]. Walker, Boyed, Mullins, Larrenche, "Marketing Strategy", 4th edition, Tata McGraw hill publications.
[3]. Marketing Management-V.S .Ramaswammi, S.Namakumari