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Performance of Select Stocks in Ed Old Generation

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Performance of Select Stocks in Ed Old Generation International Journal of Management (IJM) Volume 9, Issue 2, MarchApril 2018, pp. 4355, Article ID: IJM_09_02_005 Available online at http://iaeme.com/Home/issue/IJM?Volume=9&Issue=2 Journal Impact Factor (2016): 8.1920 (Calculated by GISI) www.jifactor.com ISSN Print: 0976-6502 and ISSN Online: 0976-6510 © IAEME Publication PERFORMANCE OF SELECTED STOCKS IN OLD GENERATION PRIVATE SECTOR BANKS IN INDIA Dr. Nalla Bala Kalyan Assistant Professor, Department of Management Studies Sri Venkateswara College of Engineering, Tirupati, India Dr. S. Gautami Associate Professor, Department of Management Studies, Sri Venkateswara College of Engineering, Tirupati, India ABSTRACT A stock market or equity market is a public entity for the trading of company stock (shares) and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately. The present study is deliberate to examine the recital selected Stocks in Old Generation Private Sector Banks in India. The banking sector plays a magnificent role in an economy for the smooth as well as efficient functioning of the different activities of the society. The role of banks in promoting the economic and social welfare for the betterment and advancement of the life of the community is well recognized while the Indian economy is yet to strengthen the Indian banking system continuously to deal with improvement in asset quality, execution of sensible risk management practices and capital adequacy. Key words: India, Old Generation, Performance, Private Sector Banks, Stocks. Cite this Article: Dr. Nalla Bala Kalyan and Dr. S. Gautami, Performance of Selected Stocks in Old Generation Private Sector Banks in India. International Journal of Management, 9 (2), 2018, pp. 4355. http://iaeme.com/Home/issue/IJM?Volume=9&Issue=2 1. INTRODUCTION The Indian banking industry is one of the oldest trading industries that have been around even before the establishment of BSE in 1875. BSE is the oldest stock market in India. The history of India stock trading starts with 318 persons taking membership in Native share and Stock Brokers Association which we know by the name Bombay Stock Exchange or BSE in short. In 1965, BSE got permanent recognition from the Government of India. BSE and NSE represent themselves as synonyms of India stock market. The history of India stock market is almost the same as the history of BSE. A stock exchange provides services for stock brokers and traders to trade stocks, bonds and other securities. Stock exchanges also provide facilities http://iaeme.com/Home/journal/IJM 43 [email protected] Dr. Nalla Bala Kalyan and Dr. S. Gautami for issue and redemption of securities and other financial instruments and capital events including the payment of income and dividends. Securities traded on stock exchange include shares issued by companies, unit trusts, derivatives, pooled investment products and bonds. The old private sector banks were those banks which were working in the private sector before the great depression. The old private sector banks have been operating for a long time and may be referred to those banks, which are in operation from before 1991. These banks are more than 50 years old. The banks, which were not nationalized at the time of bank nationalization that took place during 1969 and 1980, are known to be the old private sector banks. 2. NEED FOR THE STUDY In the investment market, it is necessary to find out every aspect of the business due to competitions, particularly, in evaluating and determination of investment decisions. The investment decisions play a crucial part for an investor, the selection (or) choosing the best alternative of investment decisions depends on the performance of the company itself and in the market place. 3. SCOPE OF THE STUDY The present study and analysis evaluates the financial performance of selected equity stocks in old generation private sector banks for the period of past 5 years (2012-2017) and five banks only. From which the investors can come to know whether to invest or not to invest in old generation private sector banks Equities. 4. OBJECTIVES OF THE STUDY To evaluate risk and return of selected stocks of old generation private sector banks. To examine return selected stock through sharpe and Treynor ratios. To compare performance of selected stocks with bench mark. 5. LIMITATIONS OF THE STUDY Only past performance of the companies is analyzed and it is not the perfect measure to expect the future performances. The study is limited to five selected old generation private sector banks equities only. The study is conducted in limited time period only and in-depth and broad study is not possible for given period of time. 6. DATA ANALYSIS & INTERPRETATION Table 1 Selected Banks for Performance Evaluation SL.NO BANK NAME 1 Karnataka Bank 2 Karur Vysya Bank 3 Dhanlaxmi Bank 4 City Union Bank 5 Lakshmi Vilas Bank http://iaeme.com/Home/journal/IJM 44 [email protected] Performance of Selected Stocks in Old Generation Private Sector Banks in India 7.1. Calculation of Returns of Karnataka Bank Table 2 Year Opening price(Rs) Closing price (Rs) 2012-13 96 130.75 2013-14 134 117.25 2014-15 116.30 124.65 2015-16 127.95 102.65 2016-17 104.65 140.70 Return= (Closing price- Beginning Price)*100 Beginning Price Return (2012-2013) = (130.75-96)*100 = 36.19% 96 Return (2013-2014) = (117.25-134)*100 = -12.5% 134 Return (2014-2015) = (124.65-116.30)*100 = 7.17% 116.30 Return (2015-2016) = (102.65-127.95)*100 = -19.77% 127.95 Return (2016-2017) = (140.70-104.65)*100 = 34.44% 104.65 Calculation of Average Rate of Return = = = 9.10 Calculation of Standard Deviation: = Standard deviation = =23.15 Interpretation: The above calculation shows that 5 years Average Return of Karnataka Bank Equity is 9.016 and standard Deviation is 23.15. Table 3 Calculation of Beta 2 Year Market Returns x Returns y x Xy 2012-13 6.86 36.19 47.06 248.26 2013-14 17.53 -12.5 307.30 -219.12 2014-15 26.33 7.17 693.27 188.79 2015-16 -9.87 -19.77 97.42 195.13 2016-17 18.94 34.44 358.72 652.29 http://iaeme.com/Home/journal/IJM 45 [email protected] Dr. Nalla Bala Kalyan and Dr. S. Gautami = = = 0.66 Calculation of Risk Adjustment Return Risk adjusted return = = == 1.96 Interpretation: The above calculation shows that the beta of Karnataka Bank is less than the Bench Mark i.e., 0.66<1. The returns are greater than the Bench Mark for Five Years. The risk adjusted return of SBI equity is 1.96. Calculation of Sharpe Ratio Sharpe ratio = = = 0.13 : Treynor ratio = = = 4.53% Interpretation: The above calculation shows that Sharpe and treynor ratio of Karnataka Bank Equity is 0.13 and 4.53. 7.2. Calculation of Returns of Karur vysya bank Table 4 Year Opening Price(Rs) Closing Price(Rs) 2012-13 376.10 450.40 2013-14 454.20 375.30 2014-15 367.95 543.90 2015-16 545 436.80 2016-17 442.50 112 Return= (Ending price- Beginning Price)*100 Beginning Price Return (2012-2013) = (450.40-376.10)*100 =19.75% 376.10 Return (2013-2014) = (375.30-454.20)*100 = -17.37% 454.20 Return (2014-2015) = (543.90-367.95)*100 = 47.81% 367.95 Return (2015-2016) = (436.80-545)*100 = -19.85% 545 Return (2016-2017) = (112-442.50)*100 = -74.68% http://iaeme.com/Home/journal/IJM 46 [email protected] Performance of Selected Stocks in Old Generation Private Sector Banks in India 442.50 Calculation of Average Rate of Return: = = = (-8.87) Calculation of Standard Deviation: Standard deviation = = = 41.28 Interpretation: The above calculation shows that 5 years Average Return of Karur Vysya Bank Equity is -8.87 and Standard Deviation is 41.28. Table 5 Calculation of Beta 2 Year Market Returns x Return Y X XY 2012-13 6.86 19.75 47.06 135.48 2013-14 17.53 -17.37 307.30 -304.49 2014-15 26.33 47.81 693.27 1258.83 2015-16 -9.87 -19.85 97.42 195.91 2016-17 18.94 -74.68 358.72 -1414.43 -44.34 -128.7 B = = Calculation of Risk Adjustment Return Risk adjustment return= = = = -1.07 Interpretation: The above calculation shows that the Beta of Karur Vysya Bank is less than the Bench Mark i.e., 0.50>1 the returns are less than the Bench Mark for Five Years. The risk adjusted return is -1.70 == -0.36 = = -29.96 Interpretation: The above calculation shows that Sharpe and treynor ratio of Karur Vysya Bank Equity is -0.36 and -29.96. 7.3. Calculation of Returns of Dhanalaxmi Bank Table 6 Year Opining Closing Price(Rs) Price(Rs) 2012-13 70.30 45.75 2013-14 48.55 36.05 2014-15 35.55 30.90 2015-16 31.75 19.60 2016-17 20.05 29.75 Return= (Ending price- Beginning Price)*100 Beginning Price Return (2012-2013) = (45.75-70.30)*100 = -34.92% http://iaeme.com/Home/journal/IJM 47 [email protected] Dr. Nalla Bala Kalyan and Dr. S. Gautami 70.30 Return (2013-2014) = (36.05-48.55)*100 = -25.75% 48.55 Return (2014-2015) = (30.90-35.55)*100 = -13.08% 35.55 Return (2015-2016) = (19.60-31.75)*100 = -38.27% 31.75 Return (2016-2014) = (29.75-20.05)*100 = 48.38% 20.05 Calculation of Average Rate of Return: = = = (-12.73) Calculation of standard deviation: Standard deviation = = = 45.94 Interpretation: The above calculation shows that 5 years Average Return of Dhanalaxmi Bank Equity is -12.73 and Standard Deviation is 45.94.
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