punj lloyds share price, return and beta

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FINANCIAL MANAGMENT PUNJ Lloyd COMPANY Submitted to Dr.Sridevi Submitted by Rammohan (10)

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Page 1: Punj Lloyds Share Price, Return and Beta

FINANCIAL MANAGMENT PUNJ Lloyd COMPANY

Submitted to

Dr.Sridevi

Submitted by

Rammohan (10)

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Table of Contents

GROUP COMPANIES ................................................................................................................................ 5

Punj Lloyd GROUP OVERVIEW ................................................................................................................ 5

Operations of PUNJ Lloyd Group: ....................................................................................................... 6

About SEMBAWANG ENGINEERS & CONSTRUCTORS PTE LTD ............................................................... 7

Operation ............................................................................................................................................ 7

About SIMON CARVES LTD ...................................................................................................................... 7

OPERATIONS: ...................................................................................................................................... 7

BOARD OF DIRECTORS ............................................................................................................................ 8

COMMITTEES .......................................................................................................................................... 8

Share Holding Pattern ............................................................................................................................. 9

Graphical representation of share holding pattern .......................................................................... 10

Profit & loss account of Punj Lloyd ....................................................................................................... 11

Graphical representation of Profit & Loss A/c .................................................................................. 12

Dividends of PUNJ Lloyd ....................................................................................................................... 13

Calculation of Risk & RETURN ............................................................................................................... 14

Bibliography .......................................................................................................................................... 15

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Declaration

I am declaring that report on “Finance project on PUNJ

Lloyd” is original work done by me, submitted in

partial fulfilment of our academic project in Financial

management of 3rd term.

The “Report on PUNJ Lloyd” is correct to the best of

my knowledge; this report so far has not been published

anywhere else

Place: Bangalore Rammohan

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ACKNOWLEDGEMENT

We deeply grateful to my Prof Dr.Sridevi, who graciously spared her time

to share her views and who’s unstinted support and cooperation enabled this

project to see the light of the day. We were thankful and immensely obliged for

her constant guidance and words of inspiration

We were thankful to IT dep of IFIM BschooL who helped a lot in completion of

project and provided the wifi & computer lab.

.

Above all we have no words to express my gratitude to the almighty GOD who

blessed us the wisdom and enlightened us to complete this project.

Last but not the least, I specially wish all my friends a vote of thanks as without

their valuable supports this report would have not been possible.

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GROUP COMPANIES

The Punj Lloyd Group comprising Punj Lloyd, Sembawang Engineers and Constructors,

and Simon Carves has international offices spanning five continents. With its strong

presence across the Middle East, the Caspian, the Asia Pacific, Africa, South Asia, China and

Europe, the Group is on track to attain its vision of being amongst the top five EPC

companies in its segments and markets by 2012.

Punj Lloyd GROUP OVERVIEW

The Punj Lloyd Group is a US $ 2.5 billion diversified global conglomerate providing

Engineering & Construction in Oil & Gas, Infrastructure and Petrochemicals, and with

interests in Defence, Aviation, Marine and Upstream sectors.

With international offices spanning five continents, the Group has a strong presence across

the Middle East, the Caspian, the Asia Pacific, Africa, South Asia, China and Europe. The

Group comprises Punj Lloyd, headquartered in India, Semarang Engineers and Constructors

in Singapore, and Simon Carves in the United Kingdom.

Punj Lloyd Group is a diversified global conglomerate providing Engineering & Construction

services in Oil & Gas, Infrastructure and Petrochemicals, and with interests in Defence,

Aviation, Marine and Upstream sectors.

With a turnover of US $2.5 billion, the Group’s three brands - Punj Lloyd headquartered in

India, Sembawang Engineers & Constructors in Singapore, and Simon Carves in the

United Kingdom, each with its own subsidiaries and joint ventures, converge to offer

complementary services, rich experiences and the best practices from across the globe. 16

international offices and entities across the Middle East, the Caspian, Asia Pacific, Africa,

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South Asia, China and Europe, have established Punj Lloyd as a proven and reputable

Group.

Having built projects across the world, the Group continues to provide integrated design,

engineering, procurement, construction and project management services for the energy,

infrastructure and petrochemical sectors. From pipelines, tanks and terminals to refineries,

power plants to renewable, airports, rail transit systems to expressways, the Group can

offer EPC solutions across a wide spectrum of businesses.

A dynamic enterprise, the Group explores and pursues the enormous opportunity in

markets globally. Partnering with the best in their own arenas, Punj Lloyd brings

technology and quality to clients worldwide and reiterates its belief of delivering the best,

in services and manufacturing. An excellent track record for successful completion of

projects within tight schedules, lends credibility to the Group, encouraging clients to trust

it with repeat orders.

The skilled multicultural workforce has the experience of working in different geographies

and diverse terrain, empowering the Group to aggressively pursue its vigorous plans.

The Group’s key strengths are its varied experience, rich knowledge of local conditions,

high standards of health, safety, quality and environment, accolades and recognitions from

industry bodies and clients, its ability to manage operations in diverse industries and

economies, long-term relationships with world-class clients and ability to mobilise

financial resources. The huge fleet of equipment Punj Lloyd owns gives the company an

edge over its competitors.

Operations of PUNJ Lloyd Group:

Engineering & Construction services in Oil & Gas, Infrastructure and

Petrochemicals

Defence

Aviation

Upstream

Marine

Real Estate

.

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About SEMBAWANG ENGINEERS & CONSTRUCTORS PTE

LTD Headquartered in Singapore, Sembawang Engineers & Constructors has operations

spanning across the Asia Pacific, Middle East, South Asia and the United Kingdom. Well-

positioned and capable to take on any engineering challenge and large-scale projects

ranging from airport construction and new ports, to the full design and build of high-rise

buildings and to complex structures underground, Sembawang is a company offering

powerful solutions.

Operation:

Subway & Metro Systems

Roads & Bridges

Airports

Seaports & Terminals

Reservoirs & Treatment Plants – Sewage & Water Treatment

Power Plants

Tunnels & Cavern

Master planning

Mixed Developments & Industrial Developments

Commercial, Institutional, Healthcare & Residential

Leisure & Hospitality

The Meetings, Incentives, Conventions & Exhibitions (MICE)

About SIMON CARVES LTD

Our services range from front-end development through to the full EPC delivery of major

projects, including PMC where we manage projects on behalf of our customers. As of July

2006, we became part of the Punj Lloyd Group, which has enabled us to add in-house high

value engineering services through Simon Carves India, and construction capabilities

through Punj Lloyd, to our tried and trusted systems and resources, thereby offering a

unique EPC capability. Simon Carves’ activities span a broad range of markets within the

process and engineering industries. Ranging from petrochemicals, where we have

delivered a wide variety of polymer plants - particularly LDPE and are a recognised world

leader - through to chemicals, oil & gas facilities, refineries, nuclear and the fast growing

bio fuels sector.

OPERATIONS:

Oil & Gas Facilities

Refineries

Polymers & Petrochemicals

Chemicals

Renewable

Nuclear

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BOARD OF DIRECTORS

Name Status

Mr Atul Punj Chairman

Mr L. Chhabra Director (Corporate Affairs)

Mr Scott R Bayman Director

Mr P K Gupta Whole Time Director

Dr Naresh Kumar

Trehan

Director

Mr Rajan Jetley Director

Mr Sanjay Gopal

Bhatnagar

Director

Mr Niten Malhan Director

COMMITTEES

Name Status

Audit Committee

Dr Naresh Kumar

Trehan

Independent Director, Chairman of the

Committee

Mr Rajan Jetley Independent Director

Mr Sanjay

Gopal Bhatnagar Independent Director

Mr Niten Malhan Non Executive Director

Investors Grievance Committee

Dr Naresh Kumar

Trehan

Independent Director, Chairman of

Committee

Mr Atul Punj Executive Director

Mr L Chhabra Executive Director

Remuneration Committee

Dr Naresh Kumar

Trehan Independent Director

Mr Rajan Jetley Independent Director

Mr Sanjay Gopal

Bhatnagar Independent Director

Mr Niten Malhan Non Executive Director

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Share Holding Pattern

Share holding

pattern as on : 31/12/2009 30/09/2009 30/06/2009

Face value 2.00 2.00 2.00

No. Of

Shares % Holding

No. Of

Shares % Holding

No. Of

Shares % Holding

Promoter's holding

Indian Promoters 47037280 14.17 47332280 14.27 48093580 15.85

Foreign Promoters 77121970 23.23 77121970 23.25 77121970 25.41

Sub total 124159250 37.39 124454250 37.52 125215550 41.26

Non promoter's holding

Institutional investors

Banks Fin. Inst. and

Insurance 17601460 5.30 6458202 1.95 6109350 2.01

FII's 44691652 13.46 63831867 19.24 46984613 15.48

Sub total 131201661 39.51 139908647 42.18 100771106 33.20

Other investors

Private Corporate

Bodies 24318298 7.32 19351915 5.83 20017573 6.60

NRI's/OCB's/Foreign

Others 4665848 1.41 4551811 1.37 11690770 3.85

Others 1327188 0.40 1389510 0.42 1613306 0.53

Sub total 30311334 9.13 25293236 7.62 33321537 10.98

General public 46361335 13.96 42063060 12.68 44201570 14.56

Grand total 332033580 100.00 331719193 100.00 303509763 100.00

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Graphical representation of share holding pattern

37.39%

62.61%Promoter's holding

Non promoter's holding

HOLDING PATTERN

14.17%

23.23%Indian Promoters

Foreign Promoters

Promoter's holding

14.17%

23.23%

5.30%

13.46%

20.75%

7.32%

1.41%13.96%

Indian Promoters

Foreign Promoters

Banks Fin. Inst. and Insurance

FII's

mutual funds

Private Corporate Bodies

NRI's/OCB's/Foreign Others

Total share holding pattern

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Profit & loss account of Punj Lloyd

Profit & loss account of Punj Lloyd

Particulars Mar ' 05 Mar ' 06 Mar ' 07 Mar ' 08 Mar ' 09

Income

Operating income 1,429.43 1,368.21 2,238.85 4,511.10 6,919.87

Expenses

Material consumed 373.11 448.77 587.85 1,625.36 2,381.76

Manufacturing

expenses 430.59 395.56 702.48 1,504.38 2,390.15

Personnel expenses 172.36 138.63 236.56 358.53 574.59

Selling expenses 46.05 37.05 65.27 - -

Administrative

expenses 144.48 138.61 319.52 485.87 800.58

Expenses capitalised - - - - -

Cost of sales 1,166.59 1,158.61 1,911.68 3,974.14 6,147.08

Operating profit 262.84 209.61 327.17 536.96 772.79

Other recurring

income 32.92 11.10 27.54 30.66 35.75

Adjusted PBDIT 295.76 220.71 354.71 567.62 808.54

Financial expenses 221.74 125.99 208.26 113.28 194.28

Depreciation 56.80 44.21 84.46 113.39 119.48

Other write offs 19.59 14.98 2.57 - -

Adjusted PBT -2.37 35.52 59.42 340.95 494.78

Tax charges 3.35 17.69 35.75 119.51 173.68

Adjusted PAT -5.72 17.83 23.68 221.44 321.10

Nonrecurring items 5.58 11.52 32.92 - -

Other non cash

adjustments 8.29 5.80 4.99 - -

Reported net profit 8.14 35.15 61.58 221.44 321.10

Earnings before

appropriation 156.07 196.97 251.06 458.08 745.08

Equity dividend 1.82 5.22 7.84 12.14 9.10

Preference dividend - - - - -

Dividend tax 0.26 0.73 1.33 2.06 1.55

Retained earnings 153.99 191.01 241.89 443.88 734.43

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Graphical representation of Profit & Loss A/c

years Reported net profit in CRORES YOY Growth of profit

2005 8.14

2006 35.15 331.8181818

2007 61.58 75.19203414

2008 221.44 259.5972718

2009 321.1 45.00541908

0

50

100

150

200

250

300

350

2004 2005 2006 2007 2008 2009 2010

Reported net profit in CRORES

Reported net profit in CRORES

0

50

100

150

200

250

300

350

2004 2005 2006 2007 2008 2009 2010

YOY Growth of profit

YOY Growth of profit

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Dividends of PUNJ Lloyd

years Dividends (%) Dividends in rupees Dividend growth rate

2006 10 0.2

2007 15 0.3 50

2008 20 0.4 33.33333333

2009 15 0.3 -25

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35

0.4

0.45

2005 2006 2007 2008 2009 2010

Dividends in rupees

Dividends in rupees

-30

-20

-10

0

10

20

30

40

50

60

2005 2006 2007 2008 2009 2010

Dividend growth rate

Dividend growth rate

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Calculation of Risk & RETURN

X=Return on S&P CNX nifty for past 2 years from 1 march 2008 to 1 march 2010

Y=Return on PUNJ Lloyd for past 2 year from 1 march 2008 to 1 march 2010

ƩX=13.03623865

Ʃy=-22.26180524

ƩXY=3904.880224

ƩX^2=2750.604

N=483

β= (n*ƩXY-ƩXƩY)/ (n*ƩX2-(ƩX) 2)

=1.4200448

From above calculations we came to know that

β=1.4200448, which implies there is a high risk

associated the PUNJ Lloyd stock

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Bibliography

http://money.rediff.com/companies/punj-lloyd-ltd/13520182/dividends

http://money.rediff.com/companies/punj-lloyd-ltd/13520182/cash-flow

http://money.rediff.com/companies/punj-lloyd-ltd/13520182/profit-and-loss

http://money.rediff.com/companies/punj-lloyd-ltd/13520182/shareholding pattern

http://money.rediff.com/companies/punj-lloyd-ltd/13520182

http://www.nseindia.com/content/equities/scripvol/datafiles/01-03-2008-TO-01-03-

2010PUNJLLOYDALLN.csv

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EXCEL sheets

Date NIFTY (x) PUNJ LLOYD closing prices of share

RETURN ON NIFTY(X)

RETURN ON PUNJ LLOYD (Y)

XY x2

3-Mar-08 4953 358.15

4-Mar-08 4864.25 349.4 -1.791843327

-2.443110429 4.377671119 3.210703

5-Mar-08 4921.4 327.1 1.174898494 -6.382369777 -7.49863664 1.380386

7-Mar-08 4771.6 303.35 -3.043849311

-7.260776521 22.10070961 9.265019

10-Mar-08

4800.4 319.25 0.603571129 5.241470249 3.163600117 0.364298

11-Mar-08

4865.9 341.35 1.364469628 6.92247455 9.44550627 1.861777

12-Mar-08

4872 346.9 0.125362215 1.625897173 0.20382607 0.015716

13-Mar-08

4623.6 323.65 -5.098522167

-6.70221966 34.17141551 25.99493

14-Mar-08

4745.8 330.3 2.642962194 2.054688707 5.430464573 6.985249

17-Mar-08

4503.1 297.5 -5.113995533

-9.930366334 50.78384907 26.15295

18-Mar-08

4533 306.3 0.663987031 2.957983193 1.964062479 0.440879

19-Mar-08

4573.95 314.6 0.903375248 2.709761672 2.447931623 0.816087

24-Mar-08

4609.85 302.95 0.78487959 -3.703115067 -2.906499435

0.616036

25-Mar-08

4877.5 323.85 5.80604575 6.898828189 40.05491209 33.71017

26-Mar-08

4828.85 316.55 -0.997437212

-2.254129998 2.24835314 0.994881

27-Mar-08

4830.25 313.85 0.02899241 -0.852945822 -0.024728955

0.000841

28-Mar-08

4942 332.85 2.313544848 6.053847379 14.00584741 5.35249

31-Mar-08

4734.5 310.8 -4.198704978

-6.624605678 27.81476484 17.62912

1-Apr-08 4739.55 311.3 0.10666385 0.160875161 0.017159564 0.011377

2-Apr-08 4754.2 315.2 0.309101075 1.252810793 0.387245163 0.095543

3-Apr-08 4771.6 315.8 0.365992175 0.19035533 0.069668561 0.13395

4-Apr-08 4647 307.25 -2.611283427

-2.707409753 7.069814218 6.818801

7-Apr-08 4761.2 307.65 2.457499462 0.130187144 0.319934836 6.039304

8-Apr-08 4709.65 305.15 -1.082710241

-0.812611734 0.879823047 1.172261

9-Apr-08 4747.05 308.65 0.794114212 1.146976897 0.910830655 0.630617

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10-Apr-08 4733 317.3 -0.295973289

2.802527134 -0.829473173

0.0876

11-Apr-08 4777.8 330.95 0.946545531 4.301922471 4.071965491 0.895948

15-Apr-08 4879.65 331.6 2.131734271 0.196404291 0.418681757 4.544291

16-Apr-08 4887.3 332.7 0.156773539 0.33172497 0.052005698 0.024578

17-Apr-08 4958.4 341.25 1.454790989 2.569882777 3.738642307 2.116417

21-Apr-08 5037 360.4 1.585188771 5.611721612 8.895638082 2.512823

22-Apr-08 5049.3 357.95 0.244192972 -0.679800222 -0.166002437

0.05963

23-Apr-08 5022.8 362.35 -0.524825223

1.229221958 -0.645126689

0.275442

24-Apr-08 4999.85 353.05 -0.456916461

-2.566579274 1.172712319 0.208773

25-Apr-08 5111.7 355.25 2.237067112 0.623141198 1.39400868 5.004469

28-Apr-08 5089.65 356.4 -0.431363343

0.323715693 -0.139639084

0.186074

29-Apr-08 5195.5 369.5 2.079710786 3.675645342 7.644279262 4.325197

30-Apr-08 5165.9 366.15 -0.569723799

-0.906630582 0.51652902 0.324585

2-May-08 5228.2 375.85 1.205985404 2.649187491 3.194881448 1.454401

5-May-08 5192.25 372.65 -0.687617153

-0.851403485 0.585439641 0.472817

6-May-08 5144.65 361.4 -0.916750927

-3.018918556 2.767596385 0.840432

7-May-08 5135.5 353.4 -0.177854665

-2.213613724 0.393701526 0.031632

8-May-08 5081.7 349.2 -1.047609775

-1.188455008 1.245037084 1.097486

9-May-08 4982.6 337.5 -1.950134797

-3.350515464 6.533956795 3.803026

12-May-08

5012.65 331.65 0.603098784 -1.733333333 -1.045371225

0.363728

13-May-08

4957.8 334.8 -1.094231594

0.949796472 -1.039297308

1.197343

14-May-08

5011.75 339.95 1.088184275 1.53823178 1.673879635 1.184145

15-May-08

5115.25 349.4 2.065146905 2.779820562 5.740737829 4.264832

16-May-08

5157.7 345.85 0.829871463 -1.016027476 -0.843172207

0.688687

20-May-08

5104.95 340.3 -1.022742695

-1.60474194 1.641238097 1.046003

21-May-08

5117.65 351.45 0.248778147 3.276520717 0.815126752 0.061891

22-May-08

5025.45 340.2 -1.80160816 -3.201024328 5.766991549 3.245792

23-May-08

4946.55 333.8 -1.570008656

-1.881246326 2.953573015 2.464927

26-May- 4875.05 320.4 - -4.014379868 5.80259293 2.089331

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08 1.445451881

27-May-08

4859.8 317.3 -0.312817304

-0.967540574 0.302663434 0.097855

28-May-08

4918.35 317.45 1.20478209 0.047273873 0.056954716 1.4515

29-May-08

4835.3 310.35 -1.68857442 -2.236572689 3.776619431 2.851284

30-May-08

4870.1 320.6 0.719707154 3.302722732 2.376993177 0.517978

2-Jun-08 4739.6 287.45 -2.679616435

-10.33998752 27.70720051 7.180344

3-Jun-08 4715.9 280.9 -0.500042198

-2.278657158 1.139424733 0.250042

4-Jun-08 4585.6 277.9 -2.762993278

-1.067995728 2.950865018 7.634132

5-Jun-08 4676.95 278.9 1.992105722 0.35984167 0.716842649 3.968485

6-Jun-08 4627.8 273.05 -1.050898556

-2.097525995 2.204287039 1.104388

9-Jun-08 4500.95 259.3 -2.74104326 -5.035707746 13.80309278 7.513318

10-Jun-08 4449.8 245.15 -1.136426754

-5.456999614 6.20148036 1.291466

11-Jun-08 4523.6 254.45 1.658501506 3.793595758 6.291684276 2.750627

12-Jun-08 4539.35 259.65 0.348174021 2.043623502 0.711536611 0.121225

13-Jun-08 4517.1 267.05 -0.490158283

2.849990372 -1.396946386

0.240255

16-Jun-08 4572.5 266.8 1.226450599 -0.093615428 -0.114814698

1.504181

17-Jun-08 4653 276.1 1.760524877 3.485757121 6.136762127 3.099448

18-Jun-08 4582.4 267.4 -1.517300666

-3.151032235 4.781063309 2.302201

19-Jun-08 4504.25 252.7 -1.705438198

-5.497382199 9.375445593 2.908519

20-Jun-08 4347.55 242.2 -3.47893656 -4.155124654 14.45541507 12.103

23-Jun-08 4266.4 225.9 -1.866568527

-6.729975227 12.56195995 3.484078

24-Jun-08 4191.1 224.15 -1.76495406 -0.774679062 1.367272955 3.115063

25-Jun-08 4252.65 238.75 1.468588199 6.513495427 9.565642517 2.156751

26-Jun-08 4315.85 234.05 1.486132176 -1.968586387 -2.925579572

2.208589

27-Jun-08 4136.65 222.35 -4.152136891

-4.998931852 20.75624936 17.24024

30-Jun-08 4040.55 212.9 -2.323135871

-4.250056218 9.873458052 5.39696

1-Jul-08 3896.75 197.6 -3.558921434

-7.186472522 25.57609109 12.66592

2-Jul-08 4093.35 216.45 5.045229999 9.539473684 48.12883881 25.45435

3-Jul-08 3925.75 199.65 -4.09444587 -7.761607762 31.77948284 16.76449

4-Jul-08 4016 227.85 2.298923773 14.12471826 32.47165058 5.285051

7-Jul-08 4030 230.35 0.348605578 1.097213079 0.382494599 0.121526

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IFIM BschooL Bangalore

8-Jul-08 3988.55 220.5 -1.02853598 -4.276101585 4.398124334 1.057886

9-Jul-08 4157.1 232.5 4.225846486 5.442176871 22.997804 17.85778

10-Jul-08 4162.2 225.7 0.122681677 -2.924731183 -0.358810927

0.015051

11-Jul-08 4049 211.35 -2.719715535

-6.357997342 17.29194414 7.396853

14-Jul-08 4039.7 211.4 -0.229686342

0.02365744 -0.005433791

0.052756

15-Jul-08 3861.1 198.95 -4.42112038 -5.889309366 26.03734566 19.54631

16-Jul-08 3816.7 194.8 -1.149931367

-2.085951244 2.398700765 1.322342

17-Jul-08 3947.2 209.85 3.419184112 7.72587269 26.41618115 11.69082

18-Jul-08 4092.25 220.9 3.67475679 5.265665952 19.35004171 13.50384

21-Jul-08 4159.5 228.2 1.643350235 3.304662743 5.430718296 2.7006

22-Jul-08 4240.1 240 1.937732901 5.170902717 10.01982832 3.754809

23-Jul-08 4476.8 269.7 5.582415509 12.375 69.08239192 31.16336

24-Jul-08 4433.55 266.95 -0.966091851

-1.019651465 0.985076971 0.933333

25-Jul-08 4311.85 254.3 -2.744978629

-4.738715115 13.00767172 7.534908

28-Jul-08 4332.1 256.2 0.469636003 0.747149037 0.350888087 0.220558

29-Jul-08 4189.85 242.6 -3.283626878

-5.308352849 17.4306501 10.78221

30-Jul-08 4313.55 271.6 2.952372997 11.95383347 35.29217515 8.716506

31-Jul-08 4332.95 269.75 0.449745569 -0.681148748 -0.306343631

0.202271

1-Aug-08 4413.55 281.85 1.860164553 4.485634847 8.34401894 3.460212

4-Aug-08 4395.35 283.2 -0.412366462

0.47897818 -0.197514538

0.170046

5-Aug-08 4502.85 289.7 2.445766549 2.29519774 5.613517856 5.981774

6-Aug-08 4517.55 280.75 0.326459909 -3.089402831 -1.008566166

0.106576

7-Aug-08 4523.85 282.55 0.139456121 0.641139804 0.08941087 0.019448

8-Aug-08 4529.5 287.7 0.124893619 1.82268625 0.227641883 0.015598

11-Aug-08

4620.4 301 2.006844023 4.622871046 9.277381126 4.027423

12-Aug-08

4552.25 302.3 -1.474980521

0.431893688 -0.637034777

2.175568

13-Aug-08

4529.05 294.6 -0.509638091

-2.547138604 1.298118856 0.259731

14-Aug-08

4430.7 274.15 -2.171537077

-6.94161575 15.07397598 4.715573

18-Aug-08

4393.05 272.15 -0.849752861

-0.729527631 0.619918191 0.72208

19-Aug-08

4368.25 281.35 -0.564528061

3.380488701 -1.908380733

0.318692

20-Aug-08

4415.75 288.15 1.087391976 2.416918429 2.628137707 1.182421

Page 20: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

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IFIM BschooL Bangalore

21-Aug-08

4283.85 271.15 -2.987035045

-5.899705015 17.62262563 8.922378

22-Aug-08

4327.45 272.1 1.017776066 0.35035958 0.356587595 1.035868

25-Aug-08

4335.35 271.55 0.182555547 -0.202131569 -0.036900239

0.033327

26-Aug-08

4337.5 279.4 0.049592305 2.890812005 0.143362031 0.002459

27-Aug-08

4292.1 283.95 -1.046685879

1.628489621 -1.70451709 1.095551

28-Aug-08

4214 279.9 -1.819622096

-1.426307448 2.59534055 3.311025

29-Aug-08

4360 301.15 3.464641671 7.591997142 26.30354966 12.00374

1-Sep-08 4348.65 310.35 -0.260321101

3.054956002 -0.79526951 0.067767

2-Sep-08 4504 310.6 3.572373035 0.080554213 0.287769698 12.76185

4-Sep-08 4447.75 304.7 -1.248889876

-1.899549259 2.372327839 1.559726

5-Sep-08 4352.3 296.7 -2.146028891

-2.625533311 5.634470341 4.60544

8-Sep-08 4482.3 308.5 2.986926453 3.977081227 11.87924912 8.92173

9-Sep-08 4468.7 304.2 -0.303415657

-1.393841167 0.422913234 0.092061

10-Sep-08 4400.25 300.65 -1.53176539 -1.166995398 1.787563161 2.346305

11-Sep-08 4290.3 290.95 -2.498721664

-3.226342924 8.061732957 6.24361

12-Sep-08 4228.45 284.7 -1.441624129

-2.148135418 3.096803851 2.07828

15-Sep-08 4072.9 277.7 -3.678652934

-2.458728486 9.04480876 13.53249

16-Sep-08 4074.9 285.7 0.04910506 2.880806626 0.141462183 0.002411

17-Sep-08 4008.25 284.15 -1.63562296 -0.542527126 0.887369824 2.675262

18-Sep-08 4038.15 291.65 0.745961455 2.639450994 1.968928703 0.556458

19-Sep-08 4245.25 311.3 5.12858611 6.737527859 34.55399179 26.3024

22-Sep-08 4223.05 293.75 -0.522937401

-5.637648571 2.948137289 0.273464

23-Sep-08 4126.9 287.75 -2.276790471

-2.042553191 4.650465644 5.183775

24-Sep-08 4161.25 290.5 0.83234389 0.955690704 0.795463318 0.692796

25-Sep-08 4110.55 304.55 -1.218383899

4.836488812 -5.892700097

1.484459

26-Sep-08 3985.25 283.6 -3.048253883

-6.879001806 20.96894397 9.291852

29-Sep-08 3850.05 274.35 -3.39250988 -3.261636107 11.06513272 11.50912

30-Sep-08 3921.2 287.05 1.848027948 4.629123383 8.554749384 3.415207

1-Oct-08 3950.75 291.25 0.753595838 1.463159728 1.102631082 0.567907

3-Oct-08 3818.3 267.65 -3.352528001

-8.103004292 27.16554878 11.23944

Page 21: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

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IFIM BschooL Bangalore

6-Oct-08 3602.35 241.4 -5.655658277

-9.807584532 55.46834664 31.98647

7-Oct-08 3606.6 233.7 0.117978542 -3.189726595 -0.376319292

0.013919

8-Oct-08 3513.65 235.35 -2.577219542

0.706033376 -1.819603014

6.642061

10-Oct-08 3279.95 192.95 -6.651203165

-18.01572127 119.8262223 44.2385

13-Oct-08 3490.7 213.5 6.425402826 10.65042757 68.43328742 41.2858

14-Oct-08 3518.65 215 0.800699 0.702576112 0.562551991 0.641119

15-Oct-08 3338.4 186.35 -5.12270331 -13.3255814 68.26299992 26.24209

16-Oct-08 3269.3 186.4 -2.069853822

0.026831232 -0.055536727

4.284295

17-Oct-08 3074.35 168.35 -5.963050194

-9.683476395 57.7430558 35.55797

20-Oct-08 3122.8 167.1 1.575942882 -0.742500743 -1.17013876 2.483596

21-Oct-08 3234.9 175.75 3.589727168 5.176540993 18.58236984 12.88614

22-Oct-08 3065.15 167.05 -5.247457418

-4.950213371 25.97603387 27.53581

23-Oct-08 2943.15 164.7 -3.980229353

-1.406764442 5.599245123 15.84223

24-Oct-08 2584 150.05 -12.20291185

-8.894960534 108.5444193 148.9111

27-Oct-08 2524.2 165.6 -2.314241486

10.36321226 -23.98297575

5.355714

28-Oct-08 2684.6 172.4 6.354488551 4.106280193 26.09331047 40.37952

29-Oct-08 2697.05 170.25 0.463756239 -1.247099768 -0.578350298

0.21507

31-Oct-08 2885.6 174.65 6.990971617 2.584434655 18.06770932 48.87368

3-Nov-08 3043.85 194.35 5.484128084 11.27970226 61.85933196 30.07566

4-Nov-08 3142.1 203.9 3.227820031 4.913815282 15.86091139 10.41882

5-Nov-08 2994.95 194.75 -4.683173674

-4.48749387 21.01571315 21.93212

6-Nov-08 2892.65 198.9 -3.415749846

2.130937099 -7.278748066

11.66735

7-Nov-08 2973 198.65 2.777729763 -0.125691302 -0.349136471

7.715783

10-Nov-08

3148.25 213.5 5.894719139 7.475459351 44.06573331 34.74771

11-Nov-08

2938.65 197.2 -6.657666958

-7.634660422 50.82902642 44.32453

12-Nov-08

2848.45 192.5 -3.069436646

-2.38336714 7.31559444 9.421441

14-Nov-08

2810.35 182.9 -1.337569555

-4.987012987 6.670476744 1.789092

17-Nov-08

2799.55 170.95 -0.384293771

-6.533624932 2.510831365 0.147682

18-Nov-08

2683.15 161.15 -4.157811077

-5.732670371 23.83536037 17.28739

Page 22: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

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IFIM BschooL Bangalore

19-Nov-08

2635 154 -1.794532546

-4.436860068 7.962089793 3.220347

20-Nov-08

2553.15 143.1 -3.10626186 -7.077922078 21.9858794 9.648863

21-Nov-08

2693.45 149.85 5.49517263 4.716981132 25.92062561 30.19692

24-Nov-08

2708.25 142.75 0.549481149 -4.738071405 -2.603480918

0.30193

25-Nov-08

2654 135.25 -2.003138558

-5.253940455 10.52437071 4.012564

26-Nov-08

2752.25 137.8 3.701959307 1.885397412 6.979664497 13.7045

28-Nov-08

2755.1 137.05 0.10355164 -0.544267054 -0.056359746

0.010723

1-Dec-08 2682.9 136.55 -2.620594534

-0.364830354 0.956072431 6.867516

2-Dec-08 2657.8 134.15 -0.93555481 -1.757597949 1.644329216 0.875263

3-Dec-08 2656.45 143.05 -0.05079389 6.634364517 -0.336985179

0.00258

4-Dec-08 2788 152.6 4.952097724 6.675987417 33.0601421 24.52327

5-Dec-08 2714.4 149.1 -2.639885222

-2.293577982 6.05478262 6.968994

8-Dec-08 2784 148.95 2.564102564 -0.100603622 -0.257958004

6.574622

10-Dec-08

2928.25 155.2 5.181393678 4.196038939 21.74132963 26.84684

11-Dec-08

2920.15 155.7 -0.276615726

0.322164948 -0.089115891

0.076516

12-Dec-08

2921.35 150.15 0.041093779 -3.564547206 -0.146480717

0.001689

15-Dec-08

2981.2 154.8 2.048710357 3.096903097 6.344657448 4.197214

16-Dec-08

3041.75 164.1 2.031061318 6.007751938 12.20211257 4.12521

17-Dec-08

2954.35 158.9 -2.873345936

-3.168799512 9.1050572 8.256117

18-Dec-08

3060.75 161.2 3.60146902 1.447451227 5.212950753 12.97058

19-Dec-08

3077.5 163.95 0.547251491 1.705955335 0.9335866 0.299484

22-Dec-08

3039.3 158.7 -1.241267262

-3.202195791 3.974780804 1.540744

23-Dec-08

2968.65 151.5 -2.324548416

-4.536862004 10.54615538 5.403525

24-Dec-08

2916.85 151.4 -1.744900881

-0.066006601 0.115174976 3.044679

26-Dec-08

2857.25 142.1 -2.043300135

-6.142668428 12.55131523 4.175075

29-Dec-08

2922.2 144.6 2.273164756 1.759324419 3.999234265 5.167278

Page 23: Punj Lloyds Share Price, Return and Beta

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IFIM BschooL Bangalore

30-Dec-08

2979.5 145.5 1.960851413 0.622406639 1.220446938 3.844938

31-Dec-08

2959.15 147.1 -0.683000503

1.099656357 -0.751065846

0.46649

1-Jan-09 3033.45 153.8 2.510856158 4.554724677 11.4362585 6.304399

2-Jan-09 3046.75 158.05 0.438444675 2.763328999 1.211566885 0.192234

5-Jan-09 3121.45 156.65 2.451792894 -0.885795634 -2.171787442

6.011288

6-Jan-09 3112.8 161.2 -0.277114802

2.904564315 -0.804897766

0.076793

7-Jan-09 2920.4 138.35 -6.180930352

-14.17493797 87.61430431 38.2039

9-Jan-09 2873 115.35 -1.623065334

-16.62450307 26.98265462 2.634341

12-Jan-09 2773.1 114.9 -3.477201532

-0.390117035 1.356515552 12.09093

13-Jan-09 2744.95 109.75 -1.015109444

-4.482158399 4.549881321 1.030447

14-Jan-09 2835.3 114.3 3.291498934 4.145785877 13.6458498 10.83397

15-Jan-09 2736.7 111.35 -3.477586146

-2.580927384 8.975397315 12.09361

16-Jan-09 2828.45 113.55 3.352577922 1.975752133 6.623862981 11.23978

19-Jan-09 2846.2 113.8 0.627552193 0.220167327 0.138166489 0.393822

20-Jan-09 2796.6 110.3 -1.742674443

-3.075571178 5.359719289 3.036914

21-Jan-09 2706.15 100.75 -3.234284488

-8.658204896 28.00309779 10.4606

22-Jan-09 2713.8 95.4 0.28268943 -5.310173697 -1.501129974

0.079913

23-Jan-09 2678.55 92.4 -1.298916648

-3.144654088 4.084643548 1.687184

27-Jan-09 2771.35 93.05 3.46456105 0.703463203 2.437191215 12.00318

28-Jan-09 2849.5 96.45 2.819925307 3.65394949 10.30386464 7.951979

29-Jan-09 2823.95 93.8 -0.896648535

-2.747537584 2.463575549 0.803979

30-Jan-09 2874.8 94.7 1.800669275 0.959488273 1.727721053 3.24241

2-Feb-09 2766.65 89.5 -3.762000835

-5.491024287 20.65723795 14.15265

3-Feb-09 2783.9 86.5 0.623497732 -3.351955307 -2.089936532

0.388749

4-Feb-09 2803.05 87.1 0.687883904 0.693641618 0.477144904 0.473184

5-Feb-09 2780.05 85.1 -0.820534775

-2.296211251 1.884121182 0.673277

6-Feb-09 2843.1 85.85 2.267944821 0.881316099 1.998776282 5.143574

9-Feb-09 2919.9 91.7 2.701276775 6.814210833 18.40706947 7.296896

10-Feb-09 2934.5 95.7 0.500017124 4.362050164 2.181099777 0.250017

11-Feb-09 2925.7 97.05 -0.299880729

1.410658307 -0.423029242

0.089928

12-Feb-09 2893.05 95.25 - -1.854714065 2.069809421 1.245394

Page 24: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

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IFIM BschooL Bangalore

1.115972246

13-Feb-09 2948.35 94.35 1.911477506 -0.94488189 -1.806120479

3.653746

16-Feb-09 2848.5 91.7 -3.386639985

-2.808691044 9.512025395 11.46933

17-Feb-09 2770.5 87.7 -2.738283307

-4.362050164 11.94452915 7.498195

18-Feb-09 2776.15 86.55 0.203934308 -1.311288483 -0.267416709

0.041589

19-Feb-09 2789.35 86.3 0.47547863 -0.288850376 -0.137342181

0.22608

20-Feb-09 2736.45 84.4 -1.896499184

-2.201622248 4.175374798 3.596709

24-Feb-09 2733.9 84.15 -0.093186428

-0.296208531 0.027602615 0.008684

25-Feb-09 2762.5 82.7 1.046124584 -1.723113488 -1.802591381

1.094377

26-Feb-09 2785.65 82.95 0.83800905 0.302297461 0.253328008 0.702259

27-Feb-09 2763.65 79.15 -0.789761815

-4.581072936 3.617956476 0.623724

2-Mar-09 2674.6 72.05 -3.222188048

-8.970309539 28.90402419 10.3825

3-Mar-09 2622.4 70.1 -1.951693711

-2.706453851 5.282168962 3.809108

4-Mar-09 2645.2 72.55 0.869432581 3.495007133 3.038673071 0.755913

5-Mar-09 2576.7 70.25 -2.58959625 -3.170227429 8.209609062 6.706009

6-Mar-09 2620.15 70.15 1.686265378 -0.142348754 -0.240037776

2.843491

9-Mar-09 2573.15 69.2 -1.793790432

-1.354240912 2.429224391 3.217684

12-Mar-09

2617.45 70.3 1.721625245 1.589595376 2.736687529 2.963993

13-Mar-09

2719.25 73.65 3.889281553 4.765291607 18.53356074 15.12651

16-Mar-09

2777.25 77.05 2.132941068 4.616429056 9.846571123 4.549438

17-Mar-09

2757.45 75.4 -0.712935458

-2.14146658 1.526727457 0.508277

18-Mar-09

2794.7 77.3 1.350885782 2.519893899 3.404088841 1.824892

19-Mar-09

2807.15 78.5 0.445486099 1.552393273 0.691569623 0.198458

20-Mar-09

2807.05 80.65 -0.003562332

2.738853503 -0.009756705

1.27E-05

23-Mar-09

2939.9 83.9 4.732726528 4.029758215 19.0717436 22.3987

24-Mar-09

2938.7 80.05 -0.040817715

-4.588796186 0.187304174 0.001666

25-Mar-09

2984.35 81.6 1.55340797 1.936289819 3.007848036 2.413076

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IFIM BschooL Bangalore

26-Mar-09

3082.25 81.9 3.280446328 0.367647059 1.206046444 10.76133

27-Mar-09

3108.65 90.4 0.856517155 10.37851038 8.889372179 0.733622

30-Mar-09

2978.15 85.45 -4.197963746

-5.475663717 22.98663777 17.6229

31-Mar-09

3020.95 91 1.437133791 6.495026331 9.334221815 2.065354

1-Apr-09 3060.35 92.1 1.304225492 1.208791209 1.576536309 1.701004

2-Apr-09 3211.05 106.85 4.924273367 16.01520087 78.86322711 24.24847

6-Apr-09 3256.6 106.7 1.418539107 -0.140383715 -0.19913979 2.012253

8-Apr-09 3342.95 114.55 2.651538414 7.357075914 19.5075694 7.030656

9-Apr-09 3342.05 114.2 -0.026922329

-0.305543431 0.008225941 0.000725

13-Apr-09 3382.6 116.1 1.21332715 1.663747811 2.018670389 1.472163

15-Apr-09 3484.15 131.95 3.00212854 13.65202412 40.98513123 9.012776

16-Apr-09 3369.5 120.95 -3.290616076

-8.336491095 27.43219161 10.82815

17-Apr-09 3384.4 119.45 0.442202107 -1.240181893 -0.548411046

0.195543

20-Apr-09 3377.1 112.45 -0.215695544

-5.860192549 1.264017421 0.046525

21-Apr-09 3365.3 102.8 -0.349412218

-8.581591819 2.998513028 0.122089

22-Apr-09 3330.3 109 -1.040026149

6.031128405 -6.27253125 1.081654

23-Apr-09 3423.7 109.9 2.804552142 0.825688073 2.315685255 7.865513

24-Apr-09 3480.75 116.25 1.666325905 5.777979982 9.627997721 2.776642

27-Apr-09 3470 117.35 -0.308841485

0.946236559 -0.292237104

0.095383

28-Apr-09 3362.35 112.55 -3.102305476

-4.090328078 12.68944719 9.624299

29-Apr-09 3473.95 115.85 3.319107172 2.932030209 9.731722495 11.01647

4-May-09 3654 127.35 5.182861008 9.926629262 51.44833975 26.86205

5-May-09 3661.9 130.15 0.216201423 2.198665096 0.475354523 0.046743

6-May-09 3625.05 123.1 -1.006308201

-5.416826738 5.450997168 1.012656

7-May-09 3683.9 126.8 1.623425884 3.005686434 4.879509155 2.635512

8-May-09 3620.7 126.55 -1.71557317 -0.197160883 0.338243921 2.943191

11-May-09

3554.6 122.05 -1.825613832

-3.555906756 6.491712558 3.332866

12-May-09

3681.1 127.35 3.558768919 4.342482589 15.45389207 12.66484

13-May-09

3635.25 128.65 -1.245551601

1.020808795 -1.271470029

1.551399

14-May-09

3593.45 130.6 -1.149852142

1.515740381 -1.742877324

1.32216

15-May-09

3671.65 131.9 2.176181664 0.995405819 2.166183892 4.735767

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Finance Project on PUNJ Lloyd

26 | P a g e

IFIM BschooL Bangalore

18-May-09

4323.15 163.1 17.74406602 23.65428355 419.7231689 314.8519

19-May-09

4318.45 161.45 -0.108717023

-1.011649295 0.1099835 0.011819

20-May-09

4270.3 182 -1.114983385

12.72839889 -14.19195328

1.243188

21-May-09

4210.9 174.6 -1.391002974

-4.065934066 5.655726378 1.934889

22-May-09

4238.5 181.95 0.65544183 4.209621993 2.759162341 0.429604

25-May-09

4237.55 179.9 -0.02241359 -1.126683155 0.025253014 0.000502

26-May-09

4116.7 175.75 -2.851883754

-2.306837132 6.578831338 8.133241

27-May-09

4276.05 185.6 3.87081886 5.60455192 21.69420527 14.98324

28-May-09

4337.1 189.15 1.427719507 1.912715517 2.730821256 2.038383

29-May-09

4448.95 204.1 2.578912176 7.903780069 20.38315466 6.650788

1-Jun-09 4529.9 207.25 1.819530451 1.543361098 2.808192514 3.310691

2-Jun-09 4525.25 214.7 -0.102651273

3.5946924 -0.36899975 0.010537

3-Jun-09 4530.7 216.4 0.120435335 0.791802515 0.095361001 0.014505

4-Jun-09 4572.65 226.6 0.925905489 4.71349353 4.364249533 0.857301

5-Jun-09 4586.9 223 0.311635485 -1.58870256 -0.495096093

0.097117

8-Jun-09 4429.9 198.25 -3.422790992

-11.09865471 37.98837536 11.7155

9-Jun-09 4550.95 212.45 2.732567327 7.162673392 19.57248728 7.466924

10-Jun-09 4655.25 226.85 2.291829179 6.778065427 15.53416812 5.252481

11-Jun-09 4637.7 224.4 -0.376993717

-1.080008816 0.407156538 0.142124

12-Jun-09 4583.4 212.8 -1.170838993

-5.169340463 6.052465385 1.370864

15-Jun-09 4484 202.1 -2.168695728

-5.028195489 10.90462608 4.703241

16-Jun-09 4517.8 210.35 0.753791258 4.082137556 3.077079603 0.568201

17-Jun-09 4356.15 198.95 -3.578068972

-5.419538864 19.39148385 12.80258

18-Jun-09 4251.4 183.1 -2.404646305

-7.966825836 19.15739831 5.782324

19-Jun-09 4313.6 194.85 1.463047467 6.417258329 9.388753541 2.140508

22-Jun-09 4235.25 201.9 -1.816348294

3.618167821 -6.571852949

3.299121

23-Jun-09 4247 196.75 0.277433445 -2.550767707 -0.707668274

0.076969

24-Jun-09 4292.95 209.5 1.081940193 6.480304956 7.011302395 1.170595

25-Jun-09 4241.85 208.7 -1.19032367 -0.381861575 0.454538872 1.41687

Page 27: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

27 | P a g e

IFIM BschooL Bangalore

26-Jun-09 4375.5 218.3 3.150747905 4.599904169 14.49313842 9.927212

29-Jun-09 4390.95 222.3 0.353102503 1.832340815 0.647004127 0.124681

30-Jun-09 4291.1 209.65 -2.273995377

-5.690508322 12.94018962 5.171055

1-Jul-09 4340.9 213.8 1.160541586 1.979489626 2.29728003 1.346857

2-Jul-09 4348.85 217 0.183141745 1.496725912 0.274112995 0.033541

3-Jul-09 4424.25 220.5 1.733791692 1.612903226 2.796438213 3.006034

6-Jul-09 4165.7 198.7 -5.843928349

-9.886621315 57.77670658 34.1515

7-Jul-09 4202.15 201.55 0.875003001 1.4343231 1.255037017 0.76563

8-Jul-09 4078.9 183.8 -2.933022381

-8.806747705 25.83038813 8.60262

9-Jul-09 4080.95 186.05 0.050258648 1.224156692 0.06152446 0.002526

10-Jul-09 4003.9 184.8 -1.888040775

-0.671862403 1.268503611 3.564698

13-Jul-09 3974.05 183.1 -0.745523115

-0.91991342 0.685816718 0.555805

14-Jul-09 4111.4 203.65 3.456171915 11.2233752 38.78991418 11.94512

15-Jul-09 4233.5 216.35 2.969791312 6.236189541 18.52018152 8.81966

16-Jul-09 4231.4 213 -0.049604346

-1.548416917 0.076808209 0.002461

17-Jul-09 4374.95 222.1 3.39249421 4.272300469 14.49375461 11.50902

20-Jul-09 4502.25 222.45 2.90974754 0.157586673 0.458537433 8.466631

21-Jul-09 4469.1 231.3 -0.736298517

3.978422117 -2.929306307

0.542136

22-Jul-09 4398.9 239.05 -1.570786064

3.350626891 -5.263118028

2.467369

23-Jul-09 4523.75 243.9 2.838209552 2.028864254 5.758341907 8.055433

24-Jul-09 4568.55 251.4 0.99032882 3.07503075 3.045291575 0.980751

27-Jul-09 4572.3 243.4 0.082082937 -3.182179793 -0.261202662

0.006738

28-Jul-09 4564.1 239.9 -0.179340813

-1.437962202 0.257885311 0.032163

29-Jul-09 4513.5 242.8 -1.108652308

1.208837015 -1.340179947

1.22911

30-Jul-09 4571.45 242.9 1.283926 0.041186161 0.052879984 1.648466

31-Jul-09 4636.45 246.7 1.421868335 1.564429807 2.224413204 2.02171

3-Aug-09 4711.4 253.8 1.616538515 2.877989461 4.652380811 2.613197

4-Aug-09 4680.5 241.05 -0.655856009

-5.023640662 3.294784914 0.430147

5-Aug-09 4694.15 240.05 0.291635509 -0.414851691 -0.120985484

0.085051

6-Aug-09 4585.5 230.95 -2.314583045

-3.790876901 8.774299399 5.357295

7-Aug-09 4481.4 227.2 -2.270199542

-1.62372808 3.686186743 5.153806

10-Aug-09

4437.65 216.8 -0.97625742 -4.577464789 4.468783963 0.953079

Page 28: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

28 | P a g e

IFIM BschooL Bangalore

11-Aug-09

4471.35 224.5 0.759410949 3.551660517 2.697169885 0.576705

12-Aug-09

4457.5 230.3 -0.309749852

2.583518931 -0.800244606

0.095945

13-Aug-09

4605 239.15 3.309029725 3.842813721 12.71598483 10.94968

14-Aug-09

4580.05 237.95 -0.541802389

-0.501777127 0.271864046 0.29355

17-Aug-09

4387.9 223.7 -4.195369046

-5.988653078 25.12460975 17.60112

18-Aug-09

4458.9 234.2 1.6180861 4.693786321 7.594950404 2.618203

19-Aug-09

4394.1 229.2 -1.453273229

-2.134927412 3.102632854 2.112003

20-Aug-09

4453.45 234.1 1.350674768 2.137870855 2.887568222 1.824322

21-Aug-09

4528.8 241.3 1.691946693 3.075608714 5.203765993 2.862684

24-Aug-09

4642.8 254 2.517223105 5.263157895 13.24854266 6.336412

25-Aug-09

4659.35 256.4 0.356465926 0.94488189 0.336818198 0.127068

26-Aug-09

4680.85 258.4 0.461437754 0.780031201 0.359935846 0.212925

27-Aug-09

4688.2 264.15 0.157022763 2.225232198 0.349412108 0.024656

28-Aug-09

4732.35 273.1 0.941726036 3.388226387 3.190781003 0.886848

31-Aug-09

4662.1 269.1 -1.484463322

-1.464664958 2.174241408 2.203631

1-Sep-09 4625.35 257.95 -0.78827138 -4.1434411 3.266156033 0.621372

2-Sep-09 4608.35 257.9 -0.367539754

-0.019383601 0.007124244 0.135085

3-Sep-09 4593.55 255.25 -0.321156162

-1.02753005 0.329997608 0.103141

4-Sep-09 4680.4 260.55 1.890694561 2.07639569 3.925830038 3.574726

7-Sep-09 4782.9 268.05 2.189983762 2.878526195 6.303925625 4.796029

8-Sep-09 4805.25 265.9 0.46728972 -0.802089162 -0.37480802 0.21836

9-Sep-09 4814.25 264.15 0.187295146 -0.658142159 -0.123266832

0.035079

10-Sep-09 4819.4 259 0.106974087 -1.94964982 -0.20856201 0.011443

11-Sep-09 4829.55 257.65 0.21060713 -0.521235521 -0.109775917

0.044355

14-Sep-09 4808.6 259.85 -0.433787827

0.853871531 -0.370399076

0.188172

15-Sep-09 4892.1 265.65 1.736472154 2.232056956 3.87590475 3.015336

16-Sep-09 4958.4 263.7 1.355246213 -0.73404856 -0.994816531

1.836692

17-Sep-09 4965.55 271.25 0.144199742 2.86310201 0.412858571 0.020794

Page 29: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

29 | P a g e

IFIM BschooL Bangalore

18-Sep-09 4976.05 272.8 0.211456938 0.571428571 0.120832536 0.044714

22-Sep-09 5020.2 270.05 0.887249927 -1.008064516 -0.894405168

0.787212

23-Sep-09 4969.95 263.15 -1.000956137

-2.555082392 2.557525401 1.001913

24-Sep-09 4986.55 261.9 0.334007384 -0.47501425 -0.158658267

0.111561

25-Sep-09 4958.95 259.25 -0.553488885

-1.011836579 0.5600403 0.30635

29-Sep-09 5006.85 268.1 0.965930288 3.413693346 3.297389796 0.933021

30-Sep-09 5083.95 267.6 1.53989035 -0.186497576 -0.287185817

2.371262

1-Oct-09 5083.4 262.05 -0.01081836 -2.073991031 0.022437181 0.000117

5-Oct-09 5003.2 260.55 -1.577684227

-0.572409845 0.903081985 2.489088

6-Oct-09 5027.4 265.3 0.483690438 1.82306659 0.881799878 0.233956

7-Oct-09 4985.75 270.8 -0.828460039

2.073124764 -1.717501023

0.686346

8-Oct-09 5002.25 277.25 0.330943188 2.38183161 0.788250947 0.109523

9-Oct-09 4945.2 269.85 -1.140486781

-2.669071235 3.044040461 1.30071

12-Oct-09 5054.25 275.15 2.205168648 1.964054104 4.331070534 4.862769

14-Oct-09 5118.2 295.4 1.265271801 7.359622024 9.311922213 1.600913

15-Oct-09 5108.85 288.45 -0.182681411

-2.352742045 0.429802237 0.033372

16-Oct-09 5142.15 287.75 0.651810094 -0.242676374 -0.15817891 0.424856

17-Oct-09 5141.8 289.8 -0.006806491

0.712423979 -0.004849108

4.63E-05

20-Oct-09 5114.45 285.35 -0.531914894

-1.535541753 0.816777528 0.282933

21-Oct-09 5063.6 282.6 -0.994241805

-0.963728754 0.958179416 0.988517

22-Oct-09 4988.6 269.8 -1.481159649

-4.529370134 6.70872028 2.193834

23-Oct-09 4997.05 260.25 0.169386201 -3.539659007 -0.59956939 0.028692

26-Oct-09 4970.9 217.4 -0.523308752

-16.46493756 8.616245929 0.273852

27-Oct-09 4846.7 202 -2.498541512

-7.083716651 17.69896011 6.24271

28-Oct-09 4826.15 204.45 -0.423999835

1.212871287 -0.514257226

0.179776

29-Oct-09 4750.55 202.85 -1.566466024

-0.78258743 1.225896619 2.453816

30-Oct-09 4711.7 202.25 -0.817800044

-0.295785063 0.241893037 0.668797

3-Nov-09 4563.9 189.5 -3.136872042

-6.30407911 19.77508951 9.839966

4-Nov-09 4710.8 196.35 3.21873836 3.614775726 11.63501729 10.36028

5-Nov-09 4765.55 207.2 1.162222977 5.525846702 6.422266005 1.350762

Page 30: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

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IFIM BschooL Bangalore

6-Nov-09 4796.15 212.15 0.642108466 2.388996139 1.533994646 0.412303

9-Nov-09 4898.4 215.75 2.131918309 1.696912562 3.61767896 4.545076

10-Nov-09

4881.7 212.6 -0.34092765 -1.460023175 0.49776227 0.116232

11-Nov-09

5003.95 218.75 2.504250568 2.89275635 7.244186734 6.271271

12-Nov-09

4952.65 214.9 -1.0251901 -1.76 1.804334576 1.051015

13-Nov-09

4998.95 212.15 0.934853058 -1.27966496 -1.196298702

0.87395

16-Nov-09

5058.05 216.65 1.182248272 2.121140702 2.50771493 1.397711

17-Nov-09

5062.25 212.9 0.083035953 -1.730902377 -0.143727128

0.006895

18-Nov-09

5054.7 211.35 -0.149143168

-0.728041334 0.108582391 0.022244

19-Nov-09

4989 208.6 -1.299780402

-1.301159215 1.691221248 1.689429

20-Nov-09

5052.45 215.1 1.271797956 3.116011505 3.962937062 1.61747

23-Nov-09

5103.55 212.4 1.011390514 -1.255230126 -1.269527841

1.022911

24-Nov-09

5090.55 209.25 -0.254724652

-1.483050847 0.377769612 0.064885

25-Nov-09

5108.15 209.5 0.345738673 0.119474313 0.04130689 0.119535

26-Nov-09

5005.55 205.65 -2.008554956

-1.837708831 3.69113918 4.034293

27-Nov-09

4941.75 202.35 -1.27458521 -1.604668125 2.04528626 1.624567

30-Nov-09

5032.7 198.8 1.840441139 -1.754385965 -3.228844104

3.387224

1-Dec-09 5122 199.5 1.774395454 0.352112676 0.624787132 3.148479

2-Dec-09 5123.25 205.85 0.024404529 3.182957393 0.077678578 0.000596

3-Dec-09 5131.7 205.55 0.164934368 -0.145737187 -0.024037071

0.027203

4-Dec-09 5108.9 205.2 -0.444297211

-0.170274872 0.075652651 0.1974

7-Dec-09 5066.7 206.45 -0.826009513

0.609161793 -0.503173436

0.682292

8-Dec-09 5147.95 208.35 1.603607871 0.92031969 1.475831899 2.571558

9-Dec-09 5112 208.3 -0.698336231

-0.02399808 0.016758729 0.487673

10-Dec-09

5134.65 208.1 0.443075117 -0.096015362 -0.042542018

0.196316

11-Dec-09

5117.3 205.95 -0.337900344

-1.033157136 0.349104151 0.114177

14-Dec-09

5105.7 205 -0.226682039

-0.461277009 0.104563213 0.051385

Page 31: Punj Lloyds Share Price, Return and Beta

Finance Project on PUNJ Lloyd

31 | P a g e

IFIM BschooL Bangalore

15-Dec-09

5033.05 200.3 -1.422919482

-2.292682927 3.262303203 2.0247

16-Dec-09

5042.05 201.65 0.178818013 0.673989016 0.120521377 0.031976

17-Dec-09

5041.75 203.3 -0.005949961

0.818249442 -0.004868552

3.54E-05

18-Dec-09

4987.7 196.6 -1.072048396

-3.295622233 3.533066529 1.149288

21-Dec-09

4952.6 194.55 -0.703731179

-1.042726348 0.733799042 0.495238

22-Dec-09

4985.85 196.35 0.671364536 0.925212028 0.621154544 0.45073

23-Dec-09

5144.6 202.25 3.18401075 3.004838299 9.567437447 10.13792

24-Dec-09

5178.4 202.1 0.656999572 -0.074165637 -0.048726792

0.431648

29-Dec-09

5187.95 206.55 0.184419898 2.201880257 0.406070533 0.034011

30-Dec-09

5169.45 205.75 -0.356595572

-0.38731542 0.138114964 0.12716

31-Dec-09

5201.05 204.35 0.611283599 -0.680437424 -0.415940237

0.373668

4-Jan-10 5232.2 208.9 0.598917526 2.226572058 1.333533029 0.358702

5-Jan-10 5277.9 214.95 0.87343756 2.896122547 2.52958221 0.762893

6-Jan-10 5281.8 214.9 0.073893026 -0.023261224 -0.001718842

0.00546

7-Jan-10 5263.1 210.55 -0.354045969

-2.024197301 0.716658895 0.125349

8-Jan-10 5244.75 211.8 -0.348653835

0.593683211 -0.206989928

0.121559

11-Jan-10 5249.4 213.15 0.088660089 0.637393768 0.056511388 0.007861

12-Jan-10 5210.4 210.95 -0.742942051

-1.032136993 0.766817974 0.551963

13-Jan-10 5233.95 212.4 0.451980654 0.687366675 0.310676439 0.204287

14-Jan-10 5259.9 222.9 0.49580145 4.943502825 2.450995869 0.245819

15-Jan-10 5252.2 219.5 -0.146390616

-1.52534769 0.223296588 0.02143

18-Jan-10 5274.85 216.75 0.431247858 -1.25284738 -0.540287749

0.185975

19-Jan-10 5225.65 216.1 -0.932727945

-0.29988466 0.279710802 0.869981

20-Jan-10 5221.7 208.85 -0.075588683

-3.354928274 0.253594609 0.005714

21-Jan-10 5094.15 198.9 -2.442691078

-4.764184822 11.63743176 5.96674

22-Jan-10 5036 186.1 -1.141505452

-6.435394671 7.346038105 1.303035

25-Jan-10 5007.9 184.75 -0.557982526

-0.725416443 0.404769699 0.311344

Page 32: Punj Lloyds Share Price, Return and Beta

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IFIM BschooL Bangalore

27-Jan-10 4853.1 180.05 -3.091116037

-2.543978349 7.863732272 9.554998

28-Jan-10 4867.25 181.25 0.291566215 0.666481533 0.194323498 0.085011

29-Jan-10 4882.05 187.4 0.304073142 3.393103448 1.031751626 0.09246

1-Feb-10 4899.7 190 0.361528456 1.387406617 0.501586972 0.130703

2-Feb-10 4830.1 186.25 -1.420495132

-1.973684211 2.803608814 2.017806

3-Feb-10 4931.85 188.55 2.106581644 1.234899329 2.601416259 4.437686

4-Feb-10 4845.35 182.55 -1.753905735

-3.182179793 5.58124339 3.076185

5-Feb-10 4718.65 176.8 -2.614878182

-3.149821967 8.236400738 6.837588

6-Feb-10 4757.25 179.1 0.818030581 1.300904977 1.064180054 0.669174

8-Feb-10 4760.4 177.7 0.066214725 -0.781686209 -0.051759137

0.004384

9-Feb-10 4792.65 175.15 0.677464079 -1.435002814 -0.972162859

0.458958

10-Feb-10 4757.2 171.55 -0.739674293

-2.055381102 1.520312563 0.547118

11-Feb-10 4826.85 174.65 1.464096527 1.807053337 2.645700516 2.143579

15-Feb-10 4801.95 173.75 -0.515864384

-0.515316347 0.26583335 0.266116

16-Feb-10 4855.75 182.95 1.12037818 5.294964029 5.93236216 1.255247

17-Feb-10 4914 183.85 1.199608711 0.491937688 0.590132736 1.439061

18-Feb-10 4887.75 181.15 -0.534188034

-1.468588523 0.784502416 0.285357

19-Feb-10 4844.9 173.3 -0.8766815 -4.333425338 3.799033824 0.76857

22-Feb-10 4856.4 176 0.237363 1.557991922 0.369809637 0.056341

23-Feb-10 4870.05 174.05 0.281072399 -1.107954545 -0.311415442

0.079002

24-Feb-10 4858.6 171.1 -0.235110522

-1.694915254 0.398492411 0.055277

25-Feb-10 4859.75 171.75 0.02366937 0.379894798 0.00899187 0.00056

26-Feb-10 4922.3 174.9 1.287103246 1.834061135 2.360626041 1.656635

13.03623865 -22.26180524 3904.880224 2750.604

N 483

β 1.4200448