88
BSE BSE BSE BSE BSE BSE BSE BSE BSE Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. May-08 May-08 May-08 Jun-08 Jun-08 Jun-08 Jul-08 Jul-08 Jul-08 Company Name Free Float No of shares Beta EPS Beta EPS Beta EPS A C C Ltd. 0.55 187745356 693.7 0.85 65.33 618.27 0.85 60.7 542.33 0.85 60.7 Ambuja Cements Ltd. 0.55 1525617511 106.81 0.78 8.14 85.47 0.78 8.38 79.62 0.78 8.38 Bajaj Auto Ltd. 0.55 289367020 297.7 0.91 Bharat Heavy Electricals Ltd. 0.35 489520000 1748.36 1.01 58.65 1456.5 1.01 60.6 1545.32 1.01 60.6 Bharti Airtel Ltd. 0.35 3797530096 424.8 0.68 32.9 398.36 0.68 36.24 380.49 0.68 36.24 Cipla Ltd. 0.65 802921357 209.23 0.51 9.02 212.38 0.51 9.27 217.03 0.51 9.27 D L F Ltd. 0.25 1697403220 632.53 1.63 15.1 488.2 1.63 15.81 453.67 1.63 15.81 Dr. Reddy'S Laboratories Ltd. 0.75 169201575.00 660.47 0.48 Grasim Industries Ltd. 0.75 91685012.00 2284.88 0.87 238.03 2152.15 0.87 238.31 1752.72 0.87 238.31 H D F C Bank Ltd. 0.80 459690703 1443.18 0.92 44.86 1148.9 0.92 40.82 1050.51 0.92 40.8 Hero Honda Motors Ltd. 0.50 199687500 801.58 0.44 Hindalco Industries Ltd. 0.70 1913476324 171.44 1.33 18.91 151.54 1.33 19.71 131.06 1.33 19.71 Hindustan Petroleum Corpn. Ltd. 0.50 338627250.00 245 0.78 Hindustan Unilever Ltd. 0.50 2182080402 242.02 0.47 8.06 227.35 0.47 8.48 220.43 0.47 8.48 0.90 290951303 533.22 0.92 63.35 447.87 0.92 81.96 416.22 0.92 81.96 I C I C I Bank Ltd. 1.00 1115458683 882.06 1.38 37.36 741.08 1.38 36.93 617.78 1.38 36.93 I T C Ltd. 0.70 3818176790 110.48 0.47 8.2 101.03 0.47 8.19 89.47 0.47 8.19 Infosys Technologies Ltd. 0.85 573901101 1842.43 0.45 76.03 1861.53 0.45 81.35 1639.48 0.45 81.3 Jaiprakash Associates Ltd. 0.55 2124634633 168.14 1.7 5.09 118.36 1.7 5.07 104.96 1.7 5.07 Jindal Steel & Power Ltd. 0.45 933943010 385.21 1.45 30 days Avg. Closing 30 days Avg. Closing 30 days Avg. Closing Housing Development Finance Corpn. Ltd.

Sensex valuation aug 11 update

Embed Size (px)

DESCRIPTION

This file is used for implied growth rate calculation of sensex and using the average implied growth rate a sensex value has been calculated which can be used as a correct sensex value (should be, in ideal case).

Citation preview

Page 1: Sensex valuation aug 11 update

BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE

Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs.May-08 May-08 May-08 Jun-08 Jun-08 Jun-08 Jul-08 Jul-08 Jul-08 Aug-08 Aug-08 Aug-08

Company Name Free Float No of shares Beta EPS Beta EPS Beta EPS Beta EPS

A C C Ltd. 0.55 187745356 693.7 0.85 65.33 618.27 0.85 60.7 542.33 0.85 60.7 589.64 0.85 60.7

Ambuja Cements Ltd. 0.55 1525617511 106.81 0.78 8.14 85.47 0.78 8.38 79.62 0.78 8.38

Bajaj Auto Ltd. 0.55 289367020 297.7 0.91

Bharat Heavy Electricals Ltd. 0.35 489520000 1748.36 1.01 58.65 1456.5 1.01 60.6 1545.32 1.01 60.6 1731.13 1.01 60.6

Bharti Airtel Ltd. 0.35 3797530096 424.8 0.68 32.9 398.36 0.68 36.24 380.49 0.68 36.24 410.34 0.68 36.24

Cipla Ltd. 0.65 802921357 209.23 0.51 9.02 212.38 0.51 9.27 217.03 0.51 9.27

D L F Ltd. 0.25 1697403220 632.53 1.63 15.1 488.2 1.63 15.81 453.67 1.63 15.81 516.14 1.63 15.81

Dr. Reddy'S Laboratories Ltd. 0.75 169201575.00 660.47 0.48

Grasim Industries Ltd. 0.75 91685012.00 2284.88 0.87 238.03 2152.15 0.87 238.31 1752.72 0.87 238.31 1979.47 0.87 238.31

H D F C Bank Ltd. 0.80 459690703 1443.18 0.92 44.86 1148.9 0.92 40.82 1050.51 0.92 40.8 1209.86 0.92 40.79

Hero Honda Motors Ltd. 0.50 199687500 801.58 0.44

Hindalco Industries Ltd. 0.70 1913476324 171.44 1.33 18.91 151.54 1.33 19.71 131.06 1.33 19.71 125.06 1.33 14.22

Hindustan Petroleum Corpn. Ltd. 0.50 338627250.00 245 0.78

Hindustan Unilever Ltd. 0.50 2182080402 242.02 0.47 8.06 227.35 0.47 8.48 220.43 0.47 8.48 241.83 0.47 8.48

Housing Development Finance Corpn. Ltd. 0.90 290951303 533.22 0.92 63.35 447.87 0.92 81.96 416.22 0.92 81.96 473.13 0.92 81.96

I C I C I Bank Ltd. 1.00 1115458683 882.06 1.38 37.36 741.08 1.38 36.93 617.78 1.38 36.93 677.82 1.38 36.93

I T C Ltd. 0.70 3818176790 110.48 0.47 8.2 101.03 0.47 8.19 89.47 0.47 8.19 93.91 0.47 8.19

Infosys Technologies Ltd. 0.85 573901101 1842.43 0.45 76.03 1861.53 0.45 81.35 1639.48 0.45 81.3 1678.88 0.45 81.3

Jaiprakash Associates Ltd. 0.55 2124634633 168.14 1.7 5.09 118.36 1.7 5.07 104.96 1.7 5.07 114.88 1.7 5.07

Jindal Steel & Power Ltd. 0.45 933943010 385.21 1.45

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

Page 2: Sensex valuation aug 11 update

Larsen & Toubro Ltd. 0.90 603167122 1457.05 1.2 74.33 1298.31 1.2 78.62 1242.14 1.2 78.59 1343.1 1.2 78.59

Mahanagar Telephone Nigam Ltd. 0.45 630000000.00 102.73 1.04

Mahindra & Mahindra Ltd. 0.75 578434478 327.93 1.1 37.87 280.59 1.1 36.57 259.09 1.1 36.57 281.25 1.1 36.57

Maruti Suzuki India Ltd. 0.50 288910060 784.11 0.74 60.22 724.63 0.74 59.05 583.96 0.74 59.05 634.82 0.74 59.05

N T P C Ltd. 0.20 8245464400 186.44 0.69 8.99 161.31 0.69 8.2 170.16 0.69 8.2 178.17 0.69 8.2

Oil & Natural Gas Corpn. Ltd. 0.20 2138872530 957.96 0.9 76.28 862.49 0.9 85.54 922.65 0.9 85.54 1032.22 0.9 85.54

Ranbaxy Laboratories Ltd. 0.40 420754157.00 492.15 0.8 13.26 540.95 0.8 5.97 490.07 0.8 5.96 508.66 0.8 5.96

Reliance Communications Ltd. 0.35 2064026881 564.1 1.31 12.53 522.32 1.31 10.03 452.32 1.31 10.03 425.45 1.31 10.03

Reliance Industries Ltd. 0.55 3270714336 1289.12 1.03 101.3 1112.06 1.03 104.6 1050.41 1.03 104.59 1120.09 1.03 104.59

Reliance Infrastructure Ltd. 0.60 244870262 1368.14 1.54 42.46 1017.06 1.54 42.91 861.89 1.54 43.02 1006.08 1.54 43.02

Satyam Computer Services Ltd. 0.60 1176424871.00 493.8 0.72 25.56 476.69 0.72 28.29 413.18 0.72 28.28 403.53 0.72 28.26

State Bank Of India 0.45 634883509 1642.18 1.08 105.99 1289.3 1.08 109.38 1283.5 1.08 109.38 1454.47 1.08 109.38

Sterlite Industries (India) Ltd. 0.45 3361207534 220.37 1.41 153.53 1.41 16.39

Sun Pharmaceutical Inds. Ltd. 0.40 207116391 276.83 0.31

Tata Consultancy Services Ltd. 0.30 1957220996 479.05 0.49 42.48 452.64 0.49 43.64 409.36 0.49 43.64 414.65 0.49 43.64

Tata Motors Ltd. 0.65 506381356 635.6 1.16 52.61 491.72 1.16 48.97 396 1.16 48.96 412.05 1.16 48.96

Tata Power Co. Ltd. 0.70 237307236 1393.62 1.01 1052.43 1.01 39.31

Tata Steel Ltd. 0.70 887214196 867.51 1.45 66.21 805.45 1.45 67.8 643.35 1.45 67.8 620.48 1.45 67.8

Wipro Ltd. 0.20 2449412810 298.97 0.75 20.96 288.93 0.75 20.61 244.69 0.75 20.61 258.88 0.75 20.6

Zee Entertainment Enterprises Ltd. 0.6 978076130 114.4 0.95

Page 3: Sensex valuation aug 11 update

Company Name cost of equity

A C C Ltd. 0.1597 103259945.80 693.70 71631424401 618.27 63842526689.77 542.33 56000966405.71 589.64 60886194441.51

Ambuja Cements Ltd. 0.1527 839089631.05 106.81 89623163492 85.47 71716990765.84 79.62 66808316424.20 0.00 0.00

Bajaj Auto Ltd. 0.1656 159151861.00 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00

Bharat Heavy Electricals Ltd. 0.1756 171332000.00 1748.36 299550015520 1456.50 249545058000.00 1545.32 264762766240.00 1731.13 296597965160.00

Bharti Airtel Ltd. 0.1427 1329135533.60 424.80 564616774673 398.36 529474431164.90 380.49 505722779179.46 410.34 545397474857.42

Cipla Ltd. 0.1258 521898882.05 209.23 109196903091 212.38 110840884569.78 217.03 113267714371.31 0.00 0.00

D L F Ltd. 0.2373 424350805.00 632.53 268414614687 488.20 207168063001.00 453.67 192515229704.35 516.14 219024424492.70

Dr. Reddy'S Laboratories Ltd. 0.1228 126901181.25 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00

Grasim Industries Ltd. 0.1617 68763759.00 2284.88 157116937664 2152.15 147989923931.85 1752.72 120523615674.48 1979.47 136115798027.73

H D F C Bank Ltd. 0.1666 367752562.40 1443.18 530733143004 1148.90 422510918941.36 1050.51 386327744326.82 1209.86 444929115145.26

Hero Honda Motors Ltd. 0.1188 99843750.00 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00

Hindalco Industries Ltd. 0.2075 1339433426.80 171.44 229632466691 151.54 202977741497.27 131.06 175546144916.41 125.06 167509544355.61

Hindustan Petroleum Corpn. Ltd. 0.1527 169313625.00 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00

Hindustan Unilever Ltd. 0.1218 1091040201.00 242.02 264053549446 227.35 248047989697.35 220.43 240497991506.43 241.83 263846251807.83

Housing Development Finance Corpn. Ltd. 0.1666 261856172.70 533.22 139626948407 447.87 117277524067.15 416.22 108989776201.19 473.13 123892010989.55

I C I C I Bank Ltd. 0.2124 1115458683.00 882.06 983901485927 741.08 826644120797.64 617.78 689108065183.74 677.82 756080204511.06

I T C Ltd. 0.1218 2672723753.00 110.48 295282520231 101.03 270025280765.59 89.47 239128594180.91 93.91 250995487644.23

Infosys Technologies Ltd. 0.1198 487815935.85 1842.43 898766714688 1861.53 908083999062.85 1639.48 799764470507.36 1678.88 818984418379.85

Jaiprakash Associates Ltd. 0.2443 1168549048.15 168.14 196479836956 118.36 138309465339.03 104.96 122650908093.82 114.88 134242914651.47

Jindal Steel & Power Ltd. 0.2194 420274354.50 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00

Larsen & Toubro Ltd. 0.1945 542850409.80 1457.05 790960189599 1298.31 704788115547.44 1242.14 674296208028.97 1343.10 729102385402.38

No of Free float shares

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

Page 4: Sensex valuation aug 11 update

Mahanagar Telephone Nigam Ltd. 0.1786 283500000.00 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00

Mahindra & Mahindra Ltd. 0.1846 433825858.50 327.93 142264513778 280.59 121727197636.51 259.09 112399941678.76 281.25 122013522703.13

Maruti Suzuki India Ltd. 0.1487 144455030.00 784.11 113268633573 724.63 104676448388.90 583.96 84355959318.80 634.82 91702942144.60

N T P C Ltd. 0.1437 1649092880.00 186.44 307456876547 161.31 266015172472.80 170.16 280609644460.80 178.17 293818878429.60

Oil & Natural Gas Corpn. Ltd. 0.1646 427774506.00 957.96 409790865768 862.49 368951233679.94 922.65 394686147960.90 1032.22 441557400583.32

Ranbaxy Laboratories Ltd. 0.1547 168301662.80 492.15 82829663347 540.95 91042784491.66 490.07 82479595888.40 508.66 85608323799.85

Reliance Communications Ltd. 0.2055 722409408.35 564.10 407511147250 522.32 377328882169.37 452.32 326760223584.87 425.45 307349082782.51

Reliance Industries Ltd. 0.1776 1798892884.80 1289.12 2318988795653 1112.06 ### 1050.41 1889575075122.77 1120.09 2014921931335.63

Reliance Infrastructure Ltd. 0.2284 146922157.20 1368.14 201010080152 1017.06 149428649201.83 861.89 126630738069.11 1006.08 147815443915.78

Satyam Computer Services Ltd. 0.1467 705854922.60 493.80 348551160780 476.69 336473983054.19 413.18 291645136919.87 403.53 284833636916.78

State Bank Of India 0.1826 285697579.05 1642.18 469166850364 1289.30 368349888669.17 1283.50 366692842710.68 1454.47 415538557800.85

Sterlite Industries (India) Ltd. 0.2154 1512543390.30 0.00 0 0.00 0.00 0.00 0.00 153.53 232220786712.76

Sun Pharmaceutical Inds. Ltd. 0.1059 82846556.40 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00

Tata Consultancy Services Ltd. 0.1238 587166298.80 479.05 281282015440 452.64 265774953488.83 409.36 240362396076.77 414.65 243468505797.42

Tata Motors Ltd. 0.1905 329147881.40 635.60 209206393418 491.72 161848596242.01 396.00 130342561034.40 412.05 135625384530.87

Tata Power Co. Ltd. 0.1756 166115065.20 0.00 0 0.00 0.00 0.00 0.00 1052.43 174824478068.44

Tata Steel Ltd. 0.2194 621049937.20 867.51 538767031020 805.45 500224671917.74 643.35 399552477097.62 620.48 385349065033.86

Wipro Ltd. 0.1497 489882562.00 298.97 146460189561 288.93 141541768638.66 244.69 119869364095.78 258.88 126820797650.56

Zee Entertainment Enterprises Ltd. 0.1696 586845678.00 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00

11866140905131

Calculated value of sensex 16844 14866.58 13629.87 14835.31

Page 5: Sensex valuation aug 11 update

Sensex may 2008 closing average 16844

Sensex average closing calculated 16844 14866.582709931 13629.86979 14835.309458051

cost of equity

market premimum 9.96%

risk free rate 7.50%

for calculation of implied growth rate

Company Name cost of equity EPS*(1+g)/(r-g) EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap

A C C Ltd. 0.1597 103259945.80 409.18201177502 42252112358 858.31018418779 88629063098.82 796.1400879 82209382329.38 858.050864605313 88602285772.79

Ambuja Cements Ltd. 0.1527 839089631.05 53.311327674735 44732982269 130.36092059447 109384496764.95 120.1048389 100778724942.08 0 0.00

Bajaj Auto Ltd. 0.1656 159151861.00 0 0 0 0.00 0 0.00 0 0.00

Bharat Heavy Electricals Ltd. 0.1756 171332000.00 334.00533041755 57225801271 709.31823789824 121528912335.58 665.695962 114055020564.00 709.138394860119 121498099468.17

Bharti Airtel Ltd. 0.1427 1329135533.60 230.50837957514 306376878086 657.86909928971 874397196323.38 598.7230252 795784047539.81 657.617677059266 874063022102.96

Cipla Ltd. 0.1258 521898882.05 71.703392794683 37421920539 234.95990799054 122625313306.83 206.8513888 107955508556.60 0 0.00

D L F Ltd. 0.2373 424350805.00 63.619663953351 26997055612 110.98622936674 47097095775.69 106.577627 45226301812.84 110.968464387989 47089557192.66

Dr. Reddy'S Laboratories Ltd. 0.1228 126901181.25 0 0 0 0.00 0 0.00 0 0.00

Grasim Industries Ltd. 0.1617 68763759.00 1472.4841016505 101253541897 3284.3355154171 225843255857.28 3051.673664 209844552382.32 3283.36670965432 225776637131.29

No of free-float shares

Avalible MarketCap

Avalible MarketCap

EPS*(1+g)/(r-g)

Page 6: Sensex valuation aug 11 update

H D F C Bank Ltd. 0.1666 367752562.40 269.21599692736 99004872709 529.0467722355 194558306119.05 493.2698248 181401242019.97 528.510677521508 194361155914.29

Hero Honda Motors Ltd. 0.1188 99843750.00 0 0 0 0.00 0 0.00 0 0.00

Hindalco Industries Ltd. 0.2075 1339433426.80 91.146586461527 122084784645 171.59761085577 229843575939.24 163.4166854 218885770920.93 123.77703455115 165791097547.99

Hindustan Petroleum Corpn. Ltd. 0.1527 169313625.00 0 0 0 0.00 0 0.00 0 0.00

Hindustan Unilever Ltd. 0.1218 1091040201.00 66.167536860079 72191442715 237.03643612677 258616280916.07 206.2389158 225014948167.64 236.899524744259 258466905093.78

Housing Development Finance Corpn. Ltd. 0.1666 261856172.70 380.17907724807 99552238109 1062.2408979035 278154336010.43 990.8920304 259471194634.42 1061.94496517928 278076844199.88

I C I C I Bank Ltd. 0.2124 1115458683.00 175.85479740925 196158760717 309.14165266609 344834740743.36 294.8886868 328936146211.82 309.083835918128 344770248549.82

I T C Ltd. 0.1218 2672723753.00 67.316848914721 179919341071 228.93023724979 611867282877.44 199.185934 532368977136.53 228.798007978241 611513870562.53

Infosys Technologies Ltd. 0.1198 487815935.85 634.53513603739 309536351216 2397.1688021907 ### 2070.353801 1009951577101.35 2394.23932917697 1167948099011.34

Jaiprakash Associates Ltd. 0.2443 1168549048.15 20.833333333333 24344771836 34.052581598403 39792111813.86 32.74917382 38269015895.63 34.0473372281493 39785983510.00

Jindal Steel & Power Ltd. 0.2194 420274354.50 0 0 0 0.00 0 0.00 0 0.00

Larsen & Toubro Ltd. 0.1945 542850409.80 382.12009047913 207434047709 763.99241680458 414733596546.46 723.6961473 392858750153.09 763.537542059096 414486667604.46

Mahanagar Telephone Nigam Ltd. 0.1786 283500000.00 0 0 0 0.00 0 0.00 0 0.00

Mahindra & Mahindra Ltd. 0.1846 433825858.50 205.19072388383 89017041945 390.2437621976 169297835159.64 368.0861313 159685281930.71 390.15286742561 169258402657.15

Maruti Suzuki India Ltd. 0.1487 144455030.00 404.96556918442 58499313446 974.34816300645 140749493117.54 893.6820326 129096864831.01 974.007910827694 140700341978.85

N T P C Ltd. 0.1437 1649092880.00 62.550443906376 103151491687 146.41142331003 241446035731.24 133.4349211 220046578411.18 146.356338746856 241355196170.31

Oil & Natural Gas Corpn. Ltd. 0.1646 427774506.00 463.31389698737 198193873407 1135.7116336684 485828483050.95 1057.817112 452507192563.40 1135.38806170618 485690067214.66

Ranbaxy Laboratories Ltd. 0.1547 168301662.80 85.725368502715 14427722063 90.28725006089 15195494314.89 83.2157157 14005343324.20 90.1070144437723 15165160360.83

Reliance Communications Ltd. 0.2055 722409408.35 60.980357803344 44052784202 88.743380282932 64109052845.17 84.45376435 61010193934.90 88.7259389274025 64096453045.84

Reliance Industries Ltd. 0.1776 1798892884.80 570.42142487105 1026127042538 1198.5327940323 ### 1126.061391 2025663824982.19 1198.12025835101 2155290007882.37

Reliance Infrastructure Ltd. 0.2284 146922157.20 185.91495025921 27315025548 319.80957195963 46987112205.52 307.2344048 45139541519.43 320.575313379921 47099616586.84

Satyam Computer Services Ltd. 0.1467 705854922.60 174.21887780141 122973252506 481.40576242364 339802627174.73 440.318445 310800941917.59 480.722370618071 339320251704.71

State Bank Of India 0.1826 285697579.05 580.55080846589 165861960494 1190.5768189849 340144914857.03 1121.811224 320498750950.73 1190.2944376032 340064239179.92

Sterlite Industries (India) Ltd. 0.2154 1512543390.30 0 0 0 0.00 0 0.00 134.079359275708 202800848648.13

Page 7: Sensex valuation aug 11 update

Sun Pharmaceutical Inds. Ltd. 0.1059 82846556.40 0 0 0 0.00 0 0.00 0 0.00

Tata Consultancy Services Ltd. 0.1238 587166298.80 343.12300087235 201470262455 1160.1965877807 681228336327.61 1015.685123 596376074579.12 1159.55808035762 680853426287.22

Tata Motors Ltd. 0.1905 329147881.40 276.11579963891 90882930472 493.50824611094 162437193660.85 466.7396591 153626369946.11 493.298386573955 162368118838.86

Tata Power Co. Ltd. 0.1756 166115065.20 0 0 0 0.00 0 0.00 460.003800362232 76413561289.42

Tata Steel Ltd. 0.2194 621049937.20 301.75006836205 187401861006 538.53510444668 334457192796.61 514.7900287 319710314989.52 538.438985243138 334397497971.28

Wipro Ltd. 0.1497 489882562.00 140.01336005344 68590103537 334.98995962427 164105739665.01 307.6151073 150695276852.71 334.712144201238 163969642733.82

Zee Entertainment Enterprises Ltd. 0.1696 586845678.00 0 0 0 0.00 0 0.00 0 0.00

Sensex value 16844 14866.58 13629.87 14835.31implied growth rate 8.31% 7.75% 8.30%

0.00 0.00 0.00

Page 8: Sensex valuation aug 11 update

BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE

Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No.Sep-08 Sep-08 Sep-08 Oct-08 Oct-08 Oct-08 Nov-08 Nov-08 Nov-08 Dec-08 Dec-08 Dec-08 Jan-09 Jan-09 Jan-09 Feb-09 Feb-09

Beta EPS Beta EPS Beta EPS Beta EPS Beta EPS Beta

600.35 0.85 60.7 509.44 0.85 60.7 443.96 0.85 60.7 470.64 0.85 63.98 499.75 0.85 63.98 541.6 0.85

1670.66 1.01 58.5 1291.54 1.01 58.5 1326.44 1.01 58.5 1361.95 1.01 59.07 1385.48 1.01 59.07 1382.32 1.01

397.28 0.68 36.16 341.6 0.68 36.16 325.69 0.68 36.16 354.2 0.68 39.31 319.75 0.68 39.31 321.13 0.68

441.77 1.63 15.16 273.74 1.63 15.17 236.33 1.63 15.18 261.75 1.63 12.6 210.87 1.63 12.63 152.3 1.63

1922.58 0.87 229.55 1315.73 0.87 229.55 998.49 0.87 229.55 1126.5 0.87 205.61 1245.17 0.87 205.61 1339.92 0.87

1261.3 0.92 44.53 1076.41 0.92 44.52 973.59 0.92 44.52 962.46 0.92 49.05 958.98 0.92 49.03 899.6 0.92

114.54 1.33 14.68 70.15 1.33 14.68 56.56 1.33 14.68 52.22 1.33 14.69 49.97 1.33 14.69 43.26 1.33

246.87 0.47 8.58 235.67 0.47 8.58 238.1 0.47 8.58 247.62 0.47 8.83 252.85 0.47 8.83 257.28 0.47

448.8 0.92 78.01 357.11 0.92 77.95 314.57 0.92 77.95 302.86 0.92 74.36 307.02 0.92 74.36 284.05 0.92

631.42 1.38 37.03 405.36 1.38 37.03 389.54 1.38 37.03 413.31 1.38 37.41 427.77 1.38 37.41 386.99 1.38

95.7 0.47 8.27 82.62 0.47 8.27 84.06 0.47 8.27 86.51 0.47 8.46 85.72 0.47 8.46 90.26 0.47

1616.59 0.45 86.79 1300.26 0.45 86.79 1247.25 0.45 86.79 1149.67 0.45 94 1226.63 0.45 94 1251.04 0.45

96.44 1.7 5.89 51.13 1.7 5.84 48.21 1.7 5.84 51.82 1.7 5.94 48.41 1.7 5.94 46.61 1.7

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

Page 9: Sensex valuation aug 11 update

1291.77 1.2 82.41 883.44 1.2 41.2 808.08 1.2 41.2 768.12 1.2 43.28 722.81 1.2 43.27 654.55 1.2

277.78 1.1 30.61 207.34 1.1 30.61 167.44 1.1 30.61 139.79 1.1 22.71 149.56 1.1 22.71 146.93 1.1

694.16 0.74 53.15 637.38 0.74 53.15 556.12 0.74 53.15 507.91 0.74 44.38 559.46 0.74 44.38 613.52 0.74

175.36 0.69 8.43 155.19 0.69 8.43 149.76 0.69 8.43 172.5 0.69 9.01 179.66 0.69 9.01 180.43 0.69

1043.36 0.9 84.57 812.43 0.9 84.57 707.83 0.9 84.57 677.36 0.9 75.82 660.53 0.9 75.82 681.88 0.9

388.92 0.8 -12.24 242.07 0.8 -12.23 211.07 0.8 -10.89 217.3 0.8 -38.52 218.95 0.8 -38.52 208.23 0.8

375.54 1.31 8.42 249.03 1.31 8.42 214.69 1.31 8.42 215.49 1.31 8.23 191.05 1.31 8.23 164 1.31

1011.96 1.03 106.51 703.53 1.03 98.39 600.8 1.03 98.39 621.08 1.03 99.12 606.26 1.03 99.12 655.52 1.03

920.93 1.54 44.87 528.03 1.54 44.93 512.09 1.54 45.34 579.15 1.54 47.35 548.52 1.54 47.35 529.15 1.54

373.6 0.72 30.93 286.72 0.72 30.92 260.27 0.72 30.91 190.99 0.72 30.91 63.25 0.72

1517.85 1.08 119.59 1350.98 1.08 119.59 1174.82 1.08 119.59 1217.9 1.08 130.14 1177.62 1.08 130.14 1099.98 1.08

126.72 1.41 19.91 70.77 1.41 19.91 60.26 1.41 19.91 66.53 1.41 19.32 67.25 1.41 19.32 65.77 1.41

219.15 0.31 52.55 211.45 0.31

384.23 0.49 43.62 272.12 0.49 43.62 258.52 0.49 43.62 251.09 0.49 44.09 253.47 0.49 44.09 247.86 0.49

402.78 1.16 37.98 243.62 1.16 37.98 151.96 1.16 37.98 158.78 1.16 17.57 155.81 1.16 17.57 138.64 1.16

1015.21 1.01 39.51 741.08 1.01 39.51 702.71 1.01 39.51 716.83 1.01 35.86 758.6 1.01 35.86 759.53 1.01

509.73 1.45 75.97 265.19 1.45 75.97 181.83 1.45 75.97 208.82 1.45 67.73 203.57 1.45 67.73 178.59 1.45

241.99 0.75 21.23 165.86 0.75 21.22 148.46 0.75 21.22 142.95 0.75 20.73 140.64 0.75 20.73 131.79 0.75

Page 10: Sensex valuation aug 11 update

600.35 61992108461.03 509.44 52604746788.35 443.96 45843285537.37 470.64 48598260891.31 499.75 51604157913.55 541.60 55925586645.28

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1670.66 286237519120.00 1291.54 221282131280.00 1326.44 227261618080.00 1361.95 233345617400.00 1385.48 237377059360.00 1382.32 236835650240.00

397.28 528038964788.61 341.60 454032698277.76 325.69 432886151938.18 354.20 470779806001.12 319.75 424991086868.60 321.13 426825293904.97

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

441.77 187465455124.85 273.74 116161789360.70 236.33 100286825745.65 261.75 111073823208.75 210.87 89482854250.35 152.30 64628627601.50

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1922.58 132203827778.22 1315.73 90474540629.07 998.49 68659925723.91 1126.50 77462374513.50 1245.17 85622569794.03 1339.92 92137935959.28

1261.30 463846306955.12 1076.41 395852535692.98 973.59 358040217227.02 962.46 353947131207.50 958.98 352667352290.35 899.60 330830205135.04

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

114.54 153418704705.67 70.15 93961254890.02 56.56 75758354619.81 52.22 69945213547.50 49.97 66931488337.20 43.26 57943890043.37

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

246.87 269345094420.87 235.67 257125444169.67 238.10 259776671858.10 247.62 270163374571.62 252.85 275869514822.85 257.28 280702822913.28

448.80 117521050307.76 357.11 93511457832.90 314.57 82372096246.24 302.86 79305760463.92 307.02 80395082142.35 284.05 74380245855.44

631.42 704322921619.86 405.36 452162331740.88 389.54 434515775375.82 413.31 461030228270.73 427.77 477159760826.91 386.99 431671355734.17

95.70 255779663162.10 82.62 220820436472.86 84.06 224669158677.18 86.51 231217331872.03 85.72 229105880107.16 90.26 241240045945.78

1616.59 788598363735.75 1300.26 634287548748.32 1247.25 608428425988.91 1149.67 560827346968.67 1226.63 598369661391.69 1251.04 610277248385.78

96.44 112694870203.59 51.13 59747912831.91 48.21 56335749611.31 51.82 60554211675.13 48.41 56569459420.94 46.61 54466071134.27

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1291.77 701237873867.35 883.44 479575766033.71 808.08 438666559151.18 768.12 416974256775.58 722.81 392377704707.54 654.55 355322735734.59

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

Page 11: Sensex valuation aug 11 update

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

277.78 120508146974.13 207.34 89949453501.39 167.44 72639801747.24 139.79 60644516759.72 149.56 64882995397.26 146.93 63742033389.41

694.16 100274903624.80 637.38 92072747021.40 556.12 80334331283.60 507.91 73370154287.30 559.46 80816811083.80 613.52 88626050005.60

175.36 289184927436.80 155.19 255922724047.20 149.76 246968149708.80 172.50 284468521800.00 179.66 296276026820.80 180.43 297545828338.40

1043.36 446322808580.16 812.43 347536841909.58 707.83 302791628581.98 677.36 289757339384.16 660.53 282557894448.18 681.88 291690880151.28

388.92 65455882696.18 242.07 40740783514.00 211.07 35523431967.20 217.30 36571951326.44 218.95 36849649070.06 208.23 35045455244.84

375.54 271293629211.76 249.03 179901614961.40 214.69 155094075878.66 215.49 155672003405.34 191.05 138016317465.27 164.00 118475142969.40

1011.96 1820407643702.21 703.53 1265575111243.34 600.80 1080774845187.84 621.08 1117256392891.58 606.26 1090596800338.85 655.52 1179210263844.10

920.93 135305022230.20 528.03 77579306666.32 512.09 75237367480.55 579.15 85089967342.38 548.52 80589741667.34 529.15 77743859482.38

373.60 263707399083.36 286.72 202382723407.87 260.27 183712860705.10 190.99 134811231667.37 0.00 0.00 0.00 0.00

1517.85 433646070361.04 1350.98 385971715344.97 1174.82 335643229819.52 1217.90 347951081525.00 1177.62 336443183040.86 1099.98 314261623003.42

126.72 191669498418.82 70.77 107042695731.53 60.26 91145864699.48 66.53 100629511756.66 67.25 101718542997.68 65.77 99479978780.03

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 219.15 18155822835.06 211.45 17517904350.78

384.23 225606906987.92 272.12 159779693229.46 258.52 151794231565.78 251.09 147431585965.69 253.47 148829041756.84 247.86 145535038820.57

402.78 132574183670.29 243.62 80187006866.67 151.96 50017312057.54 158.78 52262100608.69 155.81 51284531400.93 138.64 45633062277.30

1015.21 168641675341.69 741.08 123104552518.42 702.71 116730717466.69 716.83 119076262187.32 758.60 126014888460.72 759.53 126169375471.36

509.73 316567784488.96 265.19 164696232846.07 181.83 112925510081.08 208.82 129687647886.10 203.57 126427135715.80 178.59 110913308284.55

241.99 118546681178.38 165.86 81251921733.32 148.46 72727965154.52 142.95 70028712237.90 140.64 68897083519.68 131.79 64561622845.98

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

13999.71 10327.29 9336.86 9439.59 9179.74 9069.67

Page 12: Sensex valuation aug 11 update

13999.7101458353 10327.2902349211 9336.85665439975 9439.58819031717 9179.74337620307 9069.67390464763

EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap

804.194207416172 83041050270.47 629.261070585962 64977464042.76 570.709397723742 58931421476.50 612.76763087844 63274352352.50 610.250517247002 63014435335.35 603.741801960967 62342345747.68

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

648.138601263391 111046882831.66 524.523077356145 89867587889.58 481.234343802611 82450842592.39 493.94464967132 84628524717.49 492.147941696511 84320691146.75 487.494163798889 83523350071.99

604.921119070204 804022154381.28 449.454482688938 597385923677.67 400.864255615735 532802926288.99 445.256479589249 591806208587.71 443.126427944906 588975081258.82 437.631956329068 581672183795.85

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

102.760264496908 43606400961.28 89.2790896379289 37885653557.52 84.1108574743708 35692510078.49 70.628471151148 29971248588.91 70.6147441375582 29965423519.64 70.1973354446418 29788295804.79

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

2968.57439194971 204130334061.60 2334.11110008217 160502253165.28 2120.37209478934 145804755716.42 1934.0859151414 132995017754.08 1926.26897275869 132457495411.96 1906.0512266175 131067247188.78

Page 13: Sensex valuation aug 11 update

543.412092495341 199841189454.31 432.004859316034 158870893982.72 393.946022297087 144874659147.04 441.687519326379 162431717012.38 439.791611863253 161734492184.74 435.262560432638 160068921915.89

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

122.520323498424 164107816756.14 103.624771361708 138798482606.38 96.5983483333224 129387056731.32 97.9713113150903 131226049242.86 97.6791873405379 130834768626.58 96.9207459081173 129818886819.72

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

212.488271168974 231833246086.34 141.404628633289 154278134446.39 122.134438806754 133253582664.74 129.156496197403 140914929571.67 128.374209719174 140061423575.22 126.365509424493 137869850801.97

951.977932530014 249281297907.17 756.396648330747 198067131375.00 689.75948872547 180617779801.16 669.600080267269 175338914258.40 666.997843323506 174657502451.85 660.263647363748 172894111671.61

297.584238356521 331942922598.72 252.982821220577 282191884580.33 236.280395014588 263561018241.69 241.846963835845 269770295767.88 241.145012919106 268987298522.76 239.32201664197 266953821496.36

204.810956010188 547403107003.07 136.295603589429 364280497142.94 117.721656052664 314637466374.45 123.744502585507 330734871363.45 122.994995948382 328731647171.38 121.070465428223 323587908736.78

2252.45448233183 1098783191258.23 1476.18368563957 720105926096.77 1269.78760391883 619422628336.39 1414.18082240419 689859941342.22 1405.38788617677 685570606927.57 1382.82302816345 674563109598.48

38.2483085427713 44695024541.00 33.0861960499868 38662842901.12 31.2086422890127 36468829240.88 32.1014879537544 37512163192.56 32.0215183161391 37418714748.64 31.813525285372 37175664690.52

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

764.409105842983 414959796361.71 318.337002161612 172809372077.93 295.093855088005 160191820163.99 314.510377603214 170732087368.26 313.427315670288 170144146754.13 310.806222202128 168721285090.81

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

310.535163113335 134718183732.08 255.071898943199 110656785538.26 235.25453918431 102059502427.66 177.248454671798 76894963015.79 176.641957662301 76631848929.97 162.350070954184 70431658909.23

813.704083669576 117543647817.61 617.280987335966 89169343544.05 554.186014286625 80054957319.35 472.240767432045 68217554226.62 470.106773265613 67909288035.29 464.596881543821 67113356461.32

138.879534405165 229025251365.27 103.569260941191 170795330804.98 92.479516911033 152507312883.82 100.969641674514 166508317181.59 100.491311059032 165719505569.31 99.2572500674053 163684424374.54

1055.83453517131 451659096700.65 835.911858334956 357581782258.78 761.137858260023 325595371315.08 694.613271297137 297137848990.18 691.871766468986 295965103116.62 684.778713353013 292930875823.90

-172.733062160764 -29071261582.19 -133.291567896905 -22433192514.27 -107.17686104817 -18038043928.09 -386.480109497133 -65045245067.49 -384.82442512397 -64766590634.42 -380.545896249531 -64046507110.51

71.3744064743249 51561542752.45 60.236858384745 43515673226.59 56.107512715186 40532595064.57 55.5912969221298 40159675918.92 55.4236971437573 40038600262.19 54.9886098538435 39724289110.50

1156.38665021571 2080215717150.76 867.534703670534 1560602005750.00 796.919957365437 1433573641059.80 815.900543144096 1467717681766.37 812.973976944602 1462453102653.20 805.392293943654 1448814467047.99

322.308274050094 47354226906.85 278.305807188956 40889289553.49 263.721001832716 38746458488.21 278.756722947168 40955539069.40 278.010080854629 40845840802.51 276.535883974199 40629248616.70

487.30773069197 343968560529.96 367.133824820467 259143217502.49 328.808856042087 232091349631.78 335.684943165494 236944869576.06 0 0.00 0 0.00

1236.3999006099 353236458341.91 1012.42837041268 289248334388.44 932.737861208388 266480948835.51 1030.99040945156 294551464004.08 1027.41580004371 293530206750.21 1018.15127202974 290883353525.57

156.517217733966 236739083151.66 133.446168057006 201843119455.49 124.771856577619 188722846961.94 122.643117437902 185503036646.48 122.292703712031 184973020681.55 121.382515755831 183596321904.47

Page 14: Sensex valuation aug 11 update

0 0.00 0 0.00 0 0.00 0 0.00 980.399651592019 81222735030.16 961.073608554103 79621638915.63

1033.01043158106 606548911733.24 697.246388878478 409399581509.44 604.566279306147 354980944599.48 627.492654953179 368442539733.04 623.78748455022 366266988541.11 614.268409676131 360677708579.30

364.792562283243 120070699026.01 302.254476881698 99486420709.28 279.643637289584 92044110760.86 131.299177875295 43216846227.22 130.866788880544 43074526305.65 129.74543744963 42705435857.86

437.742839930198 72715680395.84 354.254816860535 58847062000.20 325.018272198994 53990431477.53 299.862115070485 49811614795.94 298.771376150955 49630426629.21 295.863649436096 49147409416.39

580.361148525903 360433254845.33 496.647533941514 308442919764.91 465.012007179928 288795677856.34 419.837201359003 260739867538.23 418.661954603026 260009980614.24 415.608652720462 258113727671.82

320.490150747899 157002536144.15 243.781574843554 119424342452.75 219.086666935972 107326737698.63 218.380554263051 106980825413.36 217.402694617897 106501789025.12 214.877524887402 105264752408.06

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

13999.71 10327.29 9336.86 9439.59 9179.74 9069.677.83% 5.76% 4.82% 5.00% 4.96% 4.85%

0.00 0.00 0.00 0.00 0.00 0.00

Page 15: Sensex valuation aug 11 update

BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE

Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs.Feb-09 Mar-09 Mar-09 Mar-09 Apr-09 Apr-09 Apr-09 May-09 May-09 May-09 Jun-09 Jun-09 Jun-09 Jul-09 Jul-09 Jul-09 Aug-09

EPS Beta EPS Beta EPS Beta EPS Beta EPS Beta EPS

63.98 549.11 0.85 66.48 617.6 0.85 66.48 678.51 0.85 66.48 810.94 0.85 78.54 809.71 0.85 78.54 822.37

59.07 1409.33 1.01 62.53 1587.76 1.01 62.53 1871.58 1.01 62.53 2176.57 1.01 63.94 2156.18 1.01 63.94 2258.51

39.31 295.67 0.68 40.79 343.29 0.68 40.79 402.51 0.68 40.79 404.89 0.68 44.17 406.69 0.68 22.08 405.1

12.64 160.22 1.63 9.13 223.42 1.63 9.13 299.85 1.63 9.13 359.76 1.63 5.52 341.41 1.63 5.52 386.72

205.61 1471.98 0.87 179.76 1641.59 0.87 179.76 1981.57 0.87 179.76 2323.72 0.87 181.54 2617.58 0.87 181.54 2654.7

49.02 871.72 0.92 52.77 1066.66 0.92 52.77 1280.22 0.92 52.77 1479.48 0.92 56 1431.56 0.92 55.93 1442.3

1543.68 0.44 75.57 1484.05

14.69 44.79 1.33 12.23 56.27 1.33 12.23 73.85 1.33 12.23 90.24 1.33 10.96 84.56 1.33 10.96 106

8.83 234.35 0.47 9.25 235.54 0.47 9.25 230.71 0.47 9.25 256.26 0.47 9.41 273.28 0.47 9.41 265.59

74.36 275.9 0.92 80.24 340.26 0.92 80.24 402 0.92 80.23 468.52 0.92 83.61 480.27 0.92 83.61 482.44

37.41 321.01 1.38 33.76 410.28 1.38 33.76 627.6 1.38 33.76 727.43 1.38 35.11 719.54 1.38 35.1 743.82

8.46 86.39 0.47 8.65 93.78 0.47 8.65 94.61 0.47 8.65 97.73 0.47 8.99 110.17 0.47 8.99 116.7

94 1275.18 0.45 101.62 1405.67 0.45 101.62 1570.33 0.45 101.62 1736.26 0.45 105.1 1868.57 0.45 105.1 2067.45

5.94 50.24 1.7 7.54 75.47 1.7 7.54 107.11 1.7 7.54 142.88 1.7 8.88 143.11 1.7 8.88 147.51

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

Page 16: Sensex valuation aug 11 update

43.27 610.79 1.2 46.26 824.71 1.2 46.26 1141.82 1.2 46.21 1514.84 1.2 64.9 1456.63 1.2 64.9 1505.24

21.06 175.87 1.1 29.64 223.31 1.1 29.64 288.28 1.1 29.64 364.39 1.1 37.35 382.33 1.1 37.35 408.52

44.38 711.71 0.74 42.18 808.37 0.74 42.18 908.96 0.74 42.18 1062.45 0.74 46.26 1201.25 0.74 46.26 1369.73

9.01 177.65 0.69 9.95 189.11 0.69 9.95 199.95 0.69 9.95 210.78 0.69 10.32 203.78 0.69 10.32 209.36

75.82 725.46 0.9 72.6 858.93 0.9 72.6 960.46 0.9 72.6 1096.5 0.9 61.94 1065.73 0.9 61.94 1171.07

-38.52 151.74 0.8 -69.83 180.32 0.8 -69.83 210.72 0.8 -69.83 274.96 0.8 -54.22 260.94 0.8

8.23 154.74 1.31 8.46 212.78 1.31 8.46 268.26 1.31 8.46 317.66 1.31 10.75 269.45 1.31 10.75 260.45

99.12 670.28 1.03 99.63 859.73 1.03 99.63 1028.32 1.03 99.63 1073.01 1.03 96.84 960.37 1.03 96.84 998.99

47.43 484.34 1.54 50.39 653.42 1.54 50.56 968.72 1.54 50.56 1226.6 1.54 54.69 1136.14 1.54 54.69 1148.78

130.14 990.04 1.08 143.67 1217.66 1.08 143.67 1528.95 1.08 143.67 1746.85 1.08 154.53 1671.31 1.08 154.53 1764.52

19.32 74.76 1.41 16.67 97.58 1.41 16.67 129.47 1.41 16.67 159.8 1.41 12.64 152.47 1.41 10.66 162.6

52.55 205.96 0.31 61.09 233.78 0.31 61.09 260.13 0.31 61.09 255.21 0.31 53.4 238.97 0.31 53.4 239.19

44.09 251.61 0.49 43.66 288.74 0.49 43.66 324.53 0.49 43.66 375.86 0.49 22.74 441.64 0.49 22.74 524

17.57 160.12 1.16 22.26 231.44 1.16 22.26 300.57 1.16 22.26 347.08 1.16 22.96 323.23 1.16 22.96 450.08

35.85 689.31 1.01 41.65 861.41 1.01 41.59 983 1.01 41.59 1133.71 1.01 49.94 1153.15 1.01 46.81 1292.79

67.73 176.3 1.45 71.2 248.99 1.45 71.2 319.26 1.45 71.2 428.32 1.45 61.64 405.82 1.45 56.57 453.86

20.73 136.18 0.75 20.3 170.23 0.75 20.3 224.58 0.75 20.29 235.93 0.75 24.74 254.93 0.75 24.73 309.68

Page 17: Sensex valuation aug 11 update

549.11 56701068838.24 617.60 63773342526.08 678.51 70062905824.76 810.94 83737620447.05 809.71 83610610713.72 822.37

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1409.33 241463327560.00 1587.76 272034096320.00 1871.58 320661544560.00 2176.57 372916091240.00 2156.18 369422631760.00 2258.51

295.67 392985503219.51 343.29 456278937329.54 402.51 534990343629.34 404.89 538153686199.30 406.69 540546130159.78 405.10

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

160.22 67989485977.10 223.42 94808456853.10 299.85 127241588879.25 359.76 152664445606.80 341.41 144877608335.05 386.72

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1471.98 101218877972.82 1641.59 112881899136.81 1981.57 136260201921.63 2323.72 159787722063.48 2617.58 179994640283.22 2654.70

871.72 320577263695.33 1066.66 392266948209.58 1280.22 470804185435.73 1479.48 544082561019.55 1431.56 526459858229.34 1442.30

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1543.68 154126800000.00 1484.05

44.79 59993223186.37 56.27 75369918926.04 73.85 98917158569.18 90.24 120870472434.43 84.56 113262490570.21 106.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

234.35 255685271104.35 235.54 256983608943.54 230.71 251713884772.71 256.26 279589961908.26 273.28 298159466129.28 265.59

275.90 72246118047.93 340.26 89099181322.90 402.00 105266181425.40 468.52 122684854033.40 480.27 125761664062.63 482.44

321.01 358073391829.83 410.28 457650388461.24 627.60 700061869450.80 727.43 811418109774.69 719.54 802617140765.82 743.82

86.39 230896605021.67 93.78 250648033556.34 94.61 252866394271.33 97.73 261205292380.69 110.17 294453975868.01 116.70

1275.18 622053125077.20 1405.67 685708226546.27 1570.33 766031998543.33 1736.26 846975296778.92 1868.57 911518223251.23 2067.45

50.24 58707904179.06 75.47 88190396663.88 107.11 125163288547.35 142.88 166962287999.67 143.11 167231054280.75 147.51

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

610.79 331567601801.74 824.71 447694161466.16 1141.82 619837454917.84 1514.84 822331514781.43 1456.63 790732192426.97 1505.24

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Page 18: Sensex valuation aug 11 update

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

175.87 76296953734.40 223.31 96877652461.64 288.28 125063318488.38 364.39 158081804578.82 382.33 165864640480.31 408.52

711.71 102810089401.30 808.37 116773112601.10 908.96 131303844068.80 1062.45 153476246623.50 1201.25 173526604787.50 1369.73

177.65 292961350132.00 189.11 311859954536.80 199.95 329736121356.00 210.78 347595797246.40 203.78 336052147086.40 209.36

725.46 310333293122.76 858.93 367428356438.58 960.46 410860302032.76 1096.50 469054745829.00 1065.73 455892124279.38 1171.07

151.74 25538094313.27 180.32 30348155836.10 210.72 35464526385.22 274.96 46276225203.49 0.00 0.00 0.00

154.74 111785631848.08 212.78 153714273908.71 268.26 193793547883.97 317.66 229480572656.46 269.45 194653215079.91 260.45

670.28 1205761922823.74 859.73 1546562179849.10 1028.32 1849837531297.54 1073.01 1930230054319.25 960.37 1727602759775.38 998.99

484.34 71160277618.25 653.42 96001875957.62 968.72 142326432122.78 1226.60 180214718021.52 1136.14 166924139681.21 1148.78

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

990.04 282852031162.66 1217.66 347882514106.02 1528.95 436817313488.50 1746.85 499070815963.49 1671.31 477489220842.06 1764.52

74.76 113077743858.83 97.58 147593984025.47 129.47 195828992742.14 159.80 241704433769.94 152.47 230617490719.04 162.60

205.96 17063076756.14 233.78 19367867955.19 260.13 21550874716.33 255.21 21143269658.84 238.97 19797841582.91 239.19

251.61 147736912441.07 288.74 169538397115.51 324.53 190553078949.56 375.86 220692325066.97 441.64 259316124202.03 524.00

160.12 52703158769.77 231.44 76177985671.22 300.57 98931978712.40 347.08 114240646676.31 323.23 106390469704.92 450.08

689.31 114504775593.01 861.41 143093178313.93 983.00 163291109091.60 1133.71 188326310567.89 1153.15 191555587435.38 1292.79

176.30 109491103928.36 248.99 154635223863.43 319.26 198276402950.47 428.32 266008109101.50 405.82 252034485514.50 453.86

136.18 66712207293.16 170.23 83392708529.26 224.58 110017825773.96 235.93 115577992852.66 254.93 124885761530.66 309.68

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

8901.62 10794.79 13078.62 14854.45 14742.05 15589.79

Page 19: Sensex valuation aug 11 update

8901.61668286561 10794.7877290269 13078.6190414546 14854.4458328333 14742.0541575544 15589.7896259576

EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g)

606.546577264462 62631966693.50 726.855276769514 75055036483.66 861.166624976716 88924019019.86 1134.84361423781 117183890097.67 1147.36989419017 118477353086.63 1197.21468257342

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

500.831992475048 85808546934.73 587.349406528845 100631748519.40 679.670891181968 116449373127.99 762.090624127284 130570510812.98 769.112037787751 131773503658.25 796.802503367731

436.709876220522 580446614358.75 540.077202930474 717835801302.19 663.579793199201 881987482520.00 824.121725941795 1095369469961.00 417.771047123598 555274343641.25 441.215345434168

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

49.6360834425103 21063111965.88 55.4739316404758 23540407548.15 61.1269538023501 25939272053.23 39.1944702344822 16632204995.55 39.4201218299654 16727960431.74 40.2951623136804

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

1612.05084516157 110850675812.44 1925.91705365293 132433296131.38 2274.06263775919 156373095173.78 2555.30345055151 175712270645.59 2582.81931011267 177604364581.13 2692.16558638779

Page 20: Sensex valuation aug 11 update

453.83721171991 166899797522.47 538.334868347528 197974027264.07 630.663127036079 231927980978.71 740.388515567754 272279773771.57 746.9697707627 274700047233.32 776.7107952676

0 0.00 0 0.00 0 0.00 0 0.00 2451.34484812111 244751462179.59 2691.39300354112

78.7262107451928 105448518237.41 89.6239914573867 120045370001.26 100.570679538518 134707729929.88 96.7456038080873 129584295636.50 97.4221491151504 130490483035.53 100.061482219388

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

126.039321517422 137513966682.27 165.651057965922 180731963579.00 220.023615849267 240054610060.93 274.249061591638 299216751283.00 280.218244416089 305729369711.60 305.281145488319

690.087130346893 180703574782.16 818.570965249302 214347860043.53 958.842195984549 251078747663.78 1105.42649618964 289462751493.39 1116.64835568513 292401264671.46 1160.55285464891

210.850351894515 235194855834.34 239.184732986862 266800687251.23 267.444291706801 298323057403.14 297.849393176647 332238691845.17 299.77349134746 334384943856.75 307.601331221175

117.863797959535 315017372425.24 154.906124476241 414021278372.82 205.751813740125 549917759806.06 262.008402094456 700276079763.43 267.711160180727 715517976758.22 291.655419547288

1421.58126137722 693469993405.55 1883.05780746547 918585606608.42 2528.45249107422 1233419418185.64 3236.3106695427 1578723917964.31 3310.69084549441 1615007753104.88 3624.93629837599

39.5572471870586 46224583547.87 44.0565190849545 51482203441.53 48.3837311209323 56538762947.31 60.2997119000689 70463170944.54 60.6335146891084 70853235875.95 61.8568215546943

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

323.588359716994 175660073678.88 372.246637430476 202074239675.81 421.705888726133 228923214510.05 640.363220482274 347621436659.65 645.318775183846 350311561560.18 663.18537137503

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

222.140076106053 96370109223.96 257.967543571352 111912991054.98 295.433969524939 128166895459.22 405.248810438105 175807413094.41 408.67100658637 177292050276.39 422.116511526427

425.540408718789 61471452507.68 519.773055164929 75083832277.04 629.358026864195 90913932651.41 782.657291355097 113058782502.42 792.694731697019 114508741248.13 832.989873659704

105.451716385919 173899674675.80 130.127163553876 214591778911.29 159.468420444787 262978236740.34 189.306513683692 312184023853.40 191.930085863168 316510538054.74 202.516515944264

634.786535240738 271545496528.06 755.073075466352 323001011851.52 887.275871867218 379553997773.72 839.302909727196 359032387592.91 848.022365939471 362762348666.71 882.608366073538

-666.068468745957 -112100430828.59 -804.721490021083 -135435964861.44 -962.220448836939 -161943301519.42 -839.108351320564 -141223330796.62 0 0.00 0

55.1346598793279 39829797023.00 62.8603028874879 45410874217.65 70.6438375132273 51033772861.50 96.4556581551946 69680474939.90 97.1402312248282 70175016966.11 99.8122377913276

785.984254320235 1413901482661.51 919.637323930678 1654329038615.41 1061.57904675806 1909666993865.83 1129.49529355442 2031841046990.13 1139.69421447974 2050187813275.33 1179.87969377704

287.348961280016 42217929260.44 323.801666862112 47573639400.34 358.493332572164 52670613763.32 412.532491299413 60610163536.80 415.03811143288 60978294651.93 424.769435987136

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

1092.35392523703 312082871905.98 1271.15358740089 363165502521.16 1458.92472989976 416811263348.54 1710.74675622241 488756206620.38 1725.46472896634 492961095801.85 1783.33518078921

102.287143653242 154713743045.38 115.797330529935 175148486907.44 129.21737179217 195446881616.18 104.780349830434 158484825569.34 88.9508985917821 134542093726.25 91.2246443452919

Page 21: Sensex valuation aug 11 update

1050.70957308 87047669906.19 1495.78473057397 123920614043.76 2242.81128577213 185809191681.28 2721.8696461952 225497527156.96 2825.6446871336 234094931938.97 3300.25186595495

579.84632655473 340466221435.92 756.474144071915 444176123312.60 994.730337127803 584072130355.41 629.071695196623 369369698948.44 642.077296505576 377006149732.69 696.382272414859

159.974273688451 52655193263.06 184.695439862202 60792112734.88 210.241899445463 69200675783.99 235.064114602843 77370855314.69 236.94580806921 77990210732.59 244.322955155423

333.594314514405 55415041305.91 390.658273109462 64894224508.50 452.063207488534 75094509186.48 595.226865325564 98876149542.35 563.061221283151 93532951485.04 583.333205859298

426.897884970872 265124904651.97 482.031720042823 299365769461.00 536.515763230893 333203081061.36 495.870860378583 307960566697.43 458.011976321809 284448309131.51 469.401160596966

202.849830523437 99372594678.09 247.294896858715 121145457642.67 298.620148223868 146288803276.73 412.164051387384 201911981457.95 417.203957432817 204380943543.73 438.08598604786

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

8901.62 10794.79 13078.62 14854.45 14742.05 15589.794.51% 6.25% 7.66% 8.46% 8.54% 8.83%

0.00 0.00 0.00 0.00 0.00 0.00

Page 22: Sensex valuation aug 11 update

BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE

No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs.Aug-09 Aug-09 Sep-09 Sep-09 Sep-09 Oct-09 Oct-09 Oct-09 Nov-09 Nov-09 Nov-09 Dec-09 Dec-09 Dec-09 Jan-10 Jan-10 Jan-10

Beta EPS Beta EPS Beta EPS Beta EPS Beta EPS Beta EPS

0.85 78.54 802.35 0.85 86.65 780.42 0.85 86.64 748.72 0.85 86.64 839.48 0.85 85.58 918.85 0.85 85.58

1.01 63.94 2254.75 1.01 68.88 2405 1.01 68.88 2241.19 1.01 68.88 2306.85 1.01 75.22 2382.62 1.01 75.22

0.68 22.08 419.21 0.68 23.91 339.67 0.68 23.91 296.49 0.68 23.91 321.68 0.68 24.68 322.9 0.68 24.68

1.63 5.52 419.67 1.63 1.98 428.28 1.63 1.98 369.69 1.63 1.98 372.67 1.63 2.34 367.84 1.63 2.34

0.87 181.54 2718.7 0.87 209.33 2342.91 0.87 209.31 2284.04 0.87 209.31 2419.23 0.87 238.36 2688.86 0.87 238.36

0.92 55.93 1516.25 0.92 59.58 1671.54 0.92 59.58 1719.37 0.92 55.93 1733.89 0.92 60.25 1694.74 0.92 60.14

0.44 75.57 1625.7 0.44 90.13 1621.03 0.44 90.13 1616.92 0.44 90.13 1688.96 0.44 101.92 1647.84 0.44 101.92

1.33 10.96 121.68 1.33 8.75 130.83 1.33 8.75 130.18 1.33 8.75 146.88 1.33 7.16 164.59 1.33 7.16

0.47 9.41 262.89 0.47 9.92 281.28 0.47 9.92 275.79 0.47 9.92 268.44 0.47 9.94 260.06 0.47 9.94

0.92 83.57 512.56 0.92 88.07 546.33 0.92 87.95 549.44 0.92 87.86 534.45 0.92 92.13 505.84 0.92 92.03

1.38 35.1 819.93 1.38 35.33 898.22 1.38 35.33 882.45 1.38 35.32 855.14 1.38 33.78 853.15 1.38 33.77

0.47 8.99 114.96 0.47 9.53 125.92 0.47 9.52 128.7 0.47 9.51 126.28 0.47 10.12 126.07 0.47 10.11

0.45 105.1 2263.74 0.45 105.89 2235.1 0.45 105.89 2332.31 0.45 105.89 2496.2 0.45 103.62 2585.53 0.45 103.62

1.7 8.87 155.88 1.7 13.64 159.1 1.7 13.64 151.04 1.7 13.64 148.71 1.7 14.55 154.66 1.7 9.69

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

Page 23: Sensex valuation aug 11 update

1.2 64.75 1615.72 1.2 66.8 1638.77 1.2 65.39 1612.56 1.2 65.39 1657.85 1.2 66.92 1608.47 1.2 66.76

1.1 37.35 425.36 1.1 52.89 457.56 1.1 52.89 506.58 1.1 52.7 522.17 1.1 65.93 564.01 1.1 63.79

0.74 46.26 1563.24 0.74 55.73 1510.87 0.74 55.73 1518.77 0.74 55.73 1575.13 0.74 72.14 1446.08 0.74 72.14

0.69 10.32 208.32 0.69 10.37 212.79 0.69 10.37 212.5 0.69 10.37 214.64 0.69 10.51 227.23 0.69 10.51

0.9 61.94 1165.51 0.9 63.25 1194.14 0.9 63.25 1165.67 0.9 63.25 1185.27 0.9 67.29 1176.95 0.9 67.29

1.31 10.75 298.93 1.31 7.62 237.5 1.31 7.62 172.84 1.31 7.62 176.36 1.31 5.63 180.41 1.31 5.63

1.03 96.84 1047.42 1.03 91.15 1056 1.03 91.15 1038.72 1.03 45.8 1063.3 1.03 47.47 1076.74 1.03 47.47

1.54 54.69 1186.43 1.54 55.49 1245.19 1.54 55.49 1096.8 1.54 55.49 1067.74 1.54 56.25 1116.89 1.54 56.25

1.08 154.53 1979.26 1.08 158.16 2255.72 1.08 158.16 2279.72 1.08 158.16 2241.27 1.08 158.17 2176.63 1.08 158.17

1.41 10.66 183.1 1.41 7.64 201.35 1.41 7.64 208.05 1.41 7.64 211.83 1.41 8.91 213.73 1.41 8.91

0.31 53.4 246.46 0.31 48.57 274.92 0.31 48.57 286.69 0.31 48.57 297.79 0.31 51.53 301.71 0.31 51.53

0.49 22.74 568.9 0.49 24.19 613.12 0.49 24.19 662.69 0.49 24.19 716.83 0.49 26.11 754.32 0.49 26.11

1.16 22.96 569.75 1.16 31.46 561.24 1.16 29.5 617.51 1.16 29.5 730.6 1.16 46.58 781.14 1.16 46.58

1.01 46.81 1296.66 1.01 43.44 1368.03 1.01 43.42 1322.8 1.01 43.42 1346.67 1.01 44.81 1409.49 1.01 44.79

1.45 56.57 479.57 1.45 40.78 529.53 1.45 40.78 526.91 1.45 40.78 574.02 1.45 48.96 628.73 1.45 48.96

0.75 24.73 337.2 0.75 27.31 353.13 0.75 27.31 374.65 0.75 27.3 398.06 0.75 30.69 418.64 0.75 30.68

Page 24: Sensex valuation aug 11 update

84917881627.55 802.35 82850617512.63 780.42 80586126901.24 748.72 77312786619.38 839.48 86684659300.18 918.85 94880401198.33

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

386955035320.00 2254.75 386310827000.00 2405.00 412053460000.00 2241.19 383987565080.00 2306.85 395237224200.00 2382.62 408219049840.00

538432804661.36 419.21 557186907040.46 339.67 451467466697.91 296.49 394075394357.06 321.68 427556318448.45 322.90 429177863799.44

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

164104943309.60 419.67 178087302334.35 428.28 181740962765.40 369.69 156878249100.45 372.67 158142814499.35 367.84 156093200111.20

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

182547151017.30 2718.70 186948031593.30 2342.91 161107298598.69 2284.04 157059176106.36 2419.23 166355348685.57 2688.86 184896121024.74

530409520749.52 1516.25 557604822739.00 1671.54 614713118154.10 1719.37 632302723213.69 1733.89 637642490419.74 1694.74 623244977601.78

148173117187.50 1625.70 162315984375.00 1621.03 161849714062.50 1616.92 161439356250.00 1688.96 168632100000.00 1647.84 164526525000.00

141979943240.80 121.68 162982259373.02 130.83 175238075228.24 130.18 174367443500.82 146.88 196735981728.38 164.59 220457347717.01

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

289769366983.59 262.89 286823558440.89 281.28 306887787737.28 275.79 300897977033.79 268.44 292878831556.44 260.06 283735914672.06

126329891957.39 512.56 134216999879.11 546.33 143059882831.19 549.44 143874255528.29 534.45 139949031499.52 505.84 132457326398.57

829700477589.06 819.93 914598037952.19 898.22 1001927298244.26 882.45 984336514813.35 855.14 953873338180.62 853.15 951653575401.45

311906861975.10 114.96 307256322644.88 125.92 336549374977.76 128.70 343979547011.10 126.28 337511555528.84 126.07 336950283540.71

1008535056573.08 2263.74 1104288446621.08 2235.10 1090317398218.33 2332.31 1137737985342.31 2496.20 1217686139068.77 2585.53 1261262736618.25

172372670092.61 155.88 182153425625.62 159.10 185916153560.67 151.04 176497648232.58 148.71 173774928950.39 154.66 180727795786.88

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

817120150847.35 1615.72 877094264122.06 1638.77 889606966067.95 1612.56 875378856827.09 1657.85 899964551886.93 1608.47 873158598651.01

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

Page 25: Sensex valuation aug 11 update

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

177226539714.42 425.36 184532167171.56 457.56 198501359815.26 506.58 219767503398.93 522.17 226530848532.94 564.01 244682122452.59

197864388241.90 1563.24 225817881097.20 1510.87 218252771176.10 1518.77 219393965913.10 1575.13 227535451403.90 1446.08 208893529782.40

345254085356.80 208.32 343539028761.60 212.79 350910473935.20 212.50 350432237000.00 214.64 353961295763.20 227.23 374723375122.40

500953890741.42 1165.51 498575464488.06 1194.14 510822648594.84 1165.67 498643908409.02 1185.27 507028288726.62 1176.95 503469204836.70

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

188151530404.76 298.93 215949844438.07 237.50 171572234483.12 172.84 124861242139.21 176.36 127404123256.61 180.41 130329881360.42

1797076002986.35 1047.42 1884196385397.22 1056.00 1899630886348.80 1038.72 1868546017299.46 1063.30 1912762804407.84 1076.74 1936939924779.55

168781235748.22 1186.43 174312854966.80 1245.19 182946000923.87 1096.80 161144222016.96 1067.74 156874664128.73 1116.89 164095888155.11

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

504119092185.31 1979.26 565469790310.50 2255.72 644453743014.67 2279.72 651310484911.87 2241.27 640325412997.39 2176.63 621857921487.60

245939555262.78 183.10 276946694763.93 201.35 304550611636.90 208.05 314684652351.92 211.83 320402066367.25 213.73 323275898808.82

19816067825.32 246.46 20418362290.34 274.92 22776175285.49 286.69 23751279254.32 297.79 24670876030.36 301.71 24995634531.44

307675140571.20 568.90 334038907387.32 613.12 360003401120.26 662.69 389109234551.77 716.83 420898417968.80 754.32 442911282510.82

148142878460.51 569.75 187532005427.65 561.24 184730956956.94 617.51 203252108243.31 730.60 240475442150.84 781.14 257110576076.80

214751895139.91 1296.66 215394760442.23 1368.03 227250392645.56 1322.80 219737008246.56 1346.67 223702174852.88 1409.49 234137523248.75

281869724497.59 479.57 297836918383.00 529.53 328864573245.52 526.91 327237422410.05 574.02 356495084951.54 628.73 390472727015.76

151706831800.16 337.20 165188399906.40 353.13 172992229119.06 374.65 183534501853.30 398.06 195002652629.72 418.64 205084435755.68

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

16566.24 16993.24 16828.94 17299.03 17551.31

Page 26: Sensex valuation aug 11 update

16566.2410643334 16993.244410582 16828.9396070858 17299.0267722242 17551.3100530822

Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap

123624323233.50 1363.74838139239 140820583947.42 1389.47467234343 143477079356.66 1812.23735667566 187131531227.06 1789.62429647462 184796507856.33 1790.85492746583 184923582745.79

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

136517766507.00 881.345746410163 151002729423.95 895.087936548862 153357206344.79 1107.26651268954 189710186152.12 1208.95170521833 207132113558.47 1209.59932847914 207243072146.99

586434993586.15 498.025671375169 661943616469.73 510.425812453819 678425084599.02 735.478798210287 977551004910.72 758.893122311654 1008671815069.07 759.649500098409 1009677143662.27

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

17099284565.42 14.6898753892521 6233660446.78 14.828816332663 6292620147.96 16.7792155268139 7120273616.07 19.8278689732529 8413972160.23 19.8337615372798 8416472674.52

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

185123425570.46 3202.47833994078 220214448770.41 3261.32912530341 224261249992.04 4219.2643169447 290132474647.69 4803.71007856409 330321162148.25 4806.89891045093 330540438215.61

Page 27: Sensex valuation aug 11 update

285637385203.40 851.967819469099 313313348692.10 866.725466167404 318740511080.40 1033.67639887505 380137144378.71 1113.27299903084 409408998044.32 1111.91966964169 408911307693.69

268718770197.31 3454.98713002507 344958871263.44 3613.14972068095 360750417424.24 8260.45080058205 824754384620.61 9331.28459146411 931670445929.00 9358.44866111153 934382608507.85

134025694019.80 81.483726542445 109142027071.18 82.429748924888 110409161072.73 96.148433348722 128784425561.73 78.6662816384528 105368247188.61 78.6958651909165 105407872387.66

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

333074002335.09 344.118743919959 375447383534.30 358.352043781197 390976485875.80 728.831497643665 795184463684.27 729.689690359044 796120786436.96 731.396448304869 797982927969.23

303897928734.42 1259.36230044719 329771792037.77 1279.4310968349 335026930250.55 1623.79417852963 425200528842.31 1702.33761660931 445767612928.55 1701.52921844238 445555928878.54

343116575813.02 315.585560352939 352022653525.11 319.113004006564 355957371177.34 369.824377628968 412523813211.30 353.653902828426 394486316686.81 353.676423639095 394511437720.61

779514367515.22 330.589882011816 883575430154.45 343.902364596471 919156018569.85 698.708421632183 1867454594917.47 742.903386965144 1985575528525.89 743.905240680305 1988253206747.43

1768301692788.92 3921.79790286908 1913115514202.65 4095.14923749957 1997679057736.27 8965.40128007286 4373465615709.53 8764.76131128203 4275590241564.92 8788.34975218627 4287097058939.86

72282729949.32 96.6136924153317 112897838310.19 97.4906902316997 113922653273.74 109.732157459964 128227408151.29 117.041090453773 136768254844.19 77.9690675158318 91110679630.77

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

360010450624.30 699.413173370081 379676727783.47 693.502856813583 376468310018.72 824.52793106566 447595325270.54 843.691144578251 457998083578.93 842.033284430061 457098113518.10

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

183125057999.98 612.335606970703 265647020384.18 621.028483379694 269418214955.15 749.573489753657 325184362701.22 937.588603035327 406750180631.62 907.588959739837 393735559624.26

120329577189.21 1041.87241443095 150503710882.80 1065.22054640649 153876465987.77 1470.09802396358 212363054154.60 1902.39048171315 274809874107.59 1904.02485574169 275045967656.91

333968544526.09 211.965668810235 349551075239.40 217.146993393732 358095560719.01 310.391979620856 511865203601.86 314.473009208307 518595200437.59 314.77825789322 519098583870.51

377557357788.57 928.708493186299 397277816890.77 945.205911771389 404334991976.29 1209.18463282477 517258358969.41 1286.12848019004 550172975265.82 1286.94024662697 550520228252.37

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

72105299648.92 72.1888156283597 52149879587.57 73.0401777227439 52764911574.47 85.4209759901957 61708916725.76 63.1042066270985 45587072573.88 63.1283768294575 45604533355.46

2122477186055.52 1139.65851811685 2050123599342.12 1157.04617678275 2081402134799.52 715.545473599538 1287189661209.06 741.497679310829 1333874899407.96 741.884373226074 1334570520340.69

62408041847.86 438.428352703125 64414839356.79 442.814863707545 65059315016.14 504.896421945263 74180471474.76 511.75343353252 75187918409.10 511.915546549252 75211736403.23

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

509494543786.17 1870.66849403066 534445459949.67 1897.7608489527 542185680161.66 2308.67655573569 659583302783.18 2308.41754561224 659509304217.96 2309.54705636412 659832002705.28

137981232836.94 66.6137979821171 100756259840.63 67.3421967237275 101857994542.76 77.7967691951678 117670989032.85 90.7175437639419 137214221204.40 90.74936642222 137262354355.84

Page 28: Sensex valuation aug 11 update

273414502347.04 3417.49563193767 283127744618.08 3712.32538437752 307553374331.98 -61628.3862999671 -5105699581441.21 -66330.1304728252 -5495222895236.27 -63758.3073299599 -5282156204180.06

408892201443.77 789.126543058656 463348511572.59 819.801872662597 481360031320.61 1569.68909040518 921668533479.95 1693.02313434137 994086127573.99 1696.52624903865 996143038465.07

80418383066.79 342.496831561494 112732106494.68 325.464313079401 107125889121.39 389.663993940273 128257078063.30 615.174523073937 202483390961.04 615.448731281117 202573646011.50

96900433524.64 555.831289547873 92331950903.44 564.238069177579 93728443649.76 697.989430618175 115946559776.05 720.195771215549 119635367492.24 720.259956428883 119646029623.13

291521561310.35 344.586538081642 214005447835.57 348.249001147402 216280020292.56 400.572364882923 248775442054.59 480.86404631802 298640585767.54 481.027295536585 298741971684.48

214610685221.42 501.988116620749 245915224663.73 513.054318538554 251336364010.83 703.445613631642 344605739433.53 790.55853203347 387280839083.52 790.964719958336 387479823464.80

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

16566.24 16993.24 16828.94 17299.03 17551.319.04% 9.16% 10.67% 10.67% 10.68%

0.00 0.00 0.00 0.00 0.00

Page 29: Sensex valuation aug 11 update

BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE

Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs.Feb-10 Feb-10 Feb-10 Mar-10 Mar-10 Mar-10 Apr-10 Apr-10 Apr-10 May-10 May-10 May-10 Jun-10 Jun-10 Jun-10 Jul-10

Beta EPS Beta EPS Beta EPS Beta EPS Beta EPS

884.31 0.85 85.58 969.81 0.85 85.6 930.93 0.85 85.6 862.25 0.85 85.6 858.33 0.85 78.85 832.58

2356.76 1.01 75.22 2396.77 1.01 87.26 2496.28 1.01 87.26 2354.66 1.01 87.26 2384.57 1.01 91.64 2424.41

294.88 0.68 24.68 301.1 0.68 24.82 305.05 0.68 24.82 272.69 0.68 24.82 267.43 0.68 22.83 296.74

321.34 0.51 12.29 334.21 0.51 12.49 331.42

308.57 1.63 2.34 307.15 1.63 4.54 324.75 1.63 4.54 285.69 1.63 4.54 277.19 1.63 5.17 305.73

2655.58 0.87 238.36 2847.49 0.87 191.53 2825.17 0.87 191.53 2431.4 0.87 191.53 1788.91 0.87

1630.73 0.92 60.02 1836.54 0.92 64.42 1950.91 0.92 64.31 1896.95 0.92 64.21 1935.7 0.92 68.62 2024.25

1642.06 0.44 101.92 1918.2 0.44 111.77 1941.4 0.44 111.77 1887.2 0.44 111.77 2004.89 0.44 111.34 1953.43

147.28 1.33 7.16 171.36 1.33 9.42 180.26 1.33 9.42 159.36 1.33 9.42 144.7 1.33 9.7 151.31

237.54 0.47 9.94 232.96 0.47 9.84 230.94 0.47 9.84 234.43 0.47 9.84 255.83 0.47 9.66 262.4

486.31 0.92 91.93 530.41 0.92 98.45 554.03 0.92 98.16 549.8 0.92 97.6 570.12 0.92 101.6 595.73

826.53 1.38 33.76 931.55 1.38 36.1 952.64 1.38 36.1 880.31 1.38 36.09 860 1.38 37.41 887.17

123.78 0.47 10.09 128.57 0.47 10.64 133.25 0.47 10.64 133.15 0.47 10.64 145.96 0.47 11.14 150.39

2494.47 0.45 103.62 2701.94 0.45 100.97 2714.6 0.45 100.97 2640.99 0.45 100.97 2730.82 0.45 100.38 2790.54

132.5 1.7 9.69 147.52 1.7 9.52 150.91 1.7 9.52 127.86 1.7 9.52 125.55 1.7 9.64 125.86

642.35 1.45 17.3 628.08

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

Page 30: Sensex valuation aug 11 update

1458.82 1.2 66.71 1603.61 1.2 70.41 1608.76 1.2 70.35 1585.59 1.2 70.29 1722.41 1.2 54.38 1849.01

500.33 1.1 63.79 546.9 1.1 34.52 521.5 1.1 34.52 538.6 1.1 34.52 606.38 1.1 37.32 624.5

1372.36 0.74 72.14 1441.36 0.74 86.45 1351.42 0.74 86.45 1248.88 0.74 86.45 1350.62 0.74 82.36 1344.34

204.89 0.69 10.51 203.26 0.69 10.61 207.56 0.69 10.61 202.09 0.69 10.61 199.12 0.69 10.04 200.54

1104.52 0.9 67.29 1082.79 0.9 78.3 1044.37 0.9 78.3 1066.04 0.9 78.3 1205.3 0.9 72.75 1268.85

165.69 1.31 5.63 164.39 1.31 2.41 170.45 1.31 2.41 146.73 1.31 2.41 179.53 1.31 -1.76 187.33

1003.9 1.03 47.47 1047.94 1.03 49.65 1083.76 1.03 49.65 1028.69 1.03 49.64 1046.22 1.03 53.26 1055.4

1026.18 1.54 56.25 1007.56 1.54 47.03 1107.67 1.54 47.03 1030.35 1.54 47.03 1142.61 1.54 43.95 1156.04

1944.37 1.08 158.17 2044.83 1.08 144.37 2147.68 1.08 144.37 2258.31 1.08 144.37 2320.08 1.08 140.26 2405.46

189.46 1.41 8.91 205.4 1.41 13.15 209.83 1.41 13.15 173.91 1.41 13.15 166.41 1.41 4.12 168.79

303.48 0.31 51.53 335.23 0.31 43.39 346.55 0.31 43.39 314.28 0.31

746.64 0.49 26.11 799.29 0.49 28.71 793.4 0.49 28.71 745.43 0.49 28.71 763.72 0.49 30.14 802.61

694.77 1.16 46.58 772.11 1.16 61.04 805.83 1.16 61.04 771.71 1.16 61.04 769.15 1.16 58.71 805.97

1271.22 1.01 44.79 1346.72 1.01 39.56 1349.86 1.01 39.56 1296.11 1.01 39.56 1270.45 1.01 35 1321.14

562.94 1.45 48.96 624.92 1.45 56.88 664.9 1.45 56.88 539.89 1.45 56.88 482.93 1.45 65.78 508.22

396.64 0.75 30.68 427.11 0.75 33.36 423.32 0.75 33.35 395.26 0.75 33.34 397.05 0.75 19.64 403.69

Page 31: Sensex valuation aug 11 update

884.31 91313802670.40 969.81 100142528036.30 930.93 96127781343.59 862.25 89035888266.05 858.33 88631109278.51 832.58

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

2356.76 403788404320.00 2396.77 410643397640.00 2496.28 427692644960.00 2354.66 403428607120.00 2384.57 408553147240.00 2424.41

294.88 391935486147.97 301.10 400202709166.96 305.05 405452794524.68 272.69 362441968657.38 267.43 355450715750.65 296.74

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 334.21 174423825369.93 331.42

308.57 130941927898.85 307.15 130339349755.75 324.75 137807923923.75 285.69 121232781480.45 277.19 117625799637.95 305.73

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

2655.58 182607663125.22 2847.49 195804116114.91 2825.17 194269309014.03 2431.40 167192203632.60 0.00 0.00 0.00

1630.73 599705136082.55 1836.54 675392290950.10 1950.91 717452151511.78 1896.95 697608223244.68 1935.70 711858635037.68 2024.25

1642.06 163949428125.00 1918.20 191520281250.00 1941.40 193836656250.00 1887.20 188425125000.00 2004.89 200175735937.50 1953.43

147.28 197271755099.10 171.36 229525312016.45 180.26 241446269514.97 159.36 213452110894.85 144.70 193816016857.96 151.31

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

237.54 259165689345.54 232.96 254168725224.96 230.94 251964824018.94 234.43 255772554320.43 255.83 279120814621.83 262.40

486.31 127343275345.74 530.41 138891132561.81 554.03 145076175360.98 549.80 143968523750.46 570.12 149289441179.72 595.73

826.53 921960065259.99 931.55 1039105536148.65 952.64 1062630559773.12 880.31 981949433231.73 860.00 959294467380.00 887.17

123.78 330829746146.34 128.57 343632092923.21 133.25 356140440087.25 133.15 355873167711.95 145.96 390110758987.88 150.39

2494.47 1216842217499.75 2701.94 1318049389710.55 2714.60 1324225139458.41 2640.99 1288317008420.49 2730.82 1332137513937.90 2790.54

132.50 154832748879.88 147.52 172384355583.09 150.91 176345736856.32 127.86 149410681296.46 125.55 146711332995.23 125.86

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 642.35 269963231613.08 628.08

1458.82 791921034824.44 1603.61 870520345659.38 1608.76 873316025269.85 1585.59 860738181274.78 1722.41 935010974343.62 1849.01

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Page 32: Sensex valuation aug 11 update

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

500.33 217056091783.31 546.90 237259362013.65 521.50 226240185207.75 538.60 233658607388.10 606.38 263063324077.23 624.50

1372.36 198244304970.80 1441.36 208211702040.80 1351.42 195219416642.60 1248.88 180406997866.40 1350.62 195103852618.60 1344.34

204.89 337882640183.20 203.26 335194618788.80 207.56 342285718172.80 202.09 333265180119.20 199.12 328367374265.60 200.54

1104.52 472485497367.12 1082.79 463189957351.74 1044.37 446754860831.22 1066.04 456024734376.24 1205.30 515596612081.80 1268.85

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

165.69 119696014869.51 164.39 118756882638.66 170.45 123134683653.26 146.73 105999132487.20 179.53 129694161081.08 187.33

1003.90 1805908567050.72 1047.94 1885131809697.31 1083.76 1949568152830.85 1028.69 1850503121664.91 1046.22 1882037713935.46 1055.40

1026.18 150768579275.50 1007.56 148032888708.43 1107.67 162741265865.72 1030.35 151381244671.02 1142.61 167874726038.29 1156.04

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1944.37 555501801777.45 2044.83 584202980568.81 2147.68 613586976574.10 2258.31 645193699744.41 2320.08 662841239202.32 2405.46

189.46 286566470726.24 205.40 310676412367.62 209.83 317376979586.65 173.91 263046421007.07 166.41 251702345579.82 168.79

303.48 25142272936.27 335.23 27772651101.97 346.55 28710474120.42 0.00 0.00 0.00 0.00 0.00

746.64 438401845336.03 799.29 469316150967.85 793.40 465857741467.92 745.43 437691374114.48 763.72 448430645719.54 802.61

694.77 228682073560.28 772.11 254138370707.75 805.83 265237237268.56 771.71 254006711555.19 769.15 253164092978.81 805.97

1271.22 211168793183.54 1346.72 223710480606.14 1349.86 224232081910.87 1296.11 215303397156.37 1270.45 211040884583.34 1321.14

562.94 349613851647.37 624.92 388106526755.02 664.90 412936103244.28 539.89 335298650594.91 482.93 299923646172.00 508.22

396.64 194307019391.68 427.11 209233741055.82 423.32 207377086145.84 395.26 193630981456.12 397.05 194507871242.10 403.69

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

16403.52 17507.07 17864.48 16940.69 17765.80 18318.31

Page 33: Sensex valuation aug 11 update

16403.5192993527 17507.0705276035 17864.4828716215 16940.6904631055 17765.7971886207 18318.3113923448

EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g)

1385.75436512272 143092920634.68 1145.02474606236 118235193218.06 1785.85407935227 184407195440.62 1403.79232709677 144955519610.47 1365.33547926697 140984467587.92 1392.38911634504

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

985.230742116208 168801553508.25 974.672665864367 166992617187.87 1399.9030164309 239848183611.14 1154.88063545797 197868009034.28 1267.72536520535 217201922271.36 1287.99325205609

533.570373517108 709187343117.81 420.208996136186 558514708302.99 760.61321172822 1010958047033.60 545.656110964708 725250926209.18 539.622870205523 717231931533.38 554.104439236201

0 0.00 0 0.00 0 0.00 409.729925042524 213837589822.12 464.94702612649 242655333147.89 484.597762337696

17.609044999186 7472412420.69 30.9351832573323 13127369918.07 38.4304865545165 16308007905.95 34.3796797263352 14589044767.51 40.198330516076 17058193914.15 40.5760556167846

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

3748.93024371852 257790535786.87 2500.24900608321 171926520094.30 3851.2172698961 264824176203.77 3049.8325353149 209717949448.75 0 0.00 0

Page 34: Sensex valuation aug 11 update

880.828753400556 323927031098.65 793.156631931364 291685383777.31 1185.81968864119 436088229042.17 953.287405340334 350573886017.56 1070.33634474104 393618933408.37 1088.40874741226

4182.44673513914 417591166211.55 3028.0189926154 302328771293.94 10132.7189687256 1011688659533.70 4732.67661177583 472528180456.99 5430.17031241293 542168567129.98 5732.85588183481

67.8487519331669 90878886305.94 79.1157453833129 105970273952.61 103.3640804206 138449304445.79 89.9563837267331 120490587317.63 95.7002927522937 128184171066.97 96.8162878142503

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

366.732120022772 400119485942.80 247.976607326906 270552447501.25 716.641051808018 781884197209.47 373.429002674673 407426054137.40 415.852657759833 453711967308.67 436.237242072658

1349.12674608652 353277166217.42 1212.14328490597 317407201349.48 1809.98383823696 473955440529.59 1449.00873323807 379431881094.60 1584.75914639594 414978964726.56 1611.41653938542

306.662624257869 342069486980.01 291.878831622547 325578777117.27 377.479337239968 421062604377.41 330.271790540557 368404536508.42 353.256225575024 394042724141.47 357.117955104115

372.266306944645 994965001012.54 268.137307109582 716656949777.23 774.904551955011 2071105802317.98 403.789084192939 1079216676524.59 479.565073234425 1281744962342.83 501.717987518347

4098.8235022419 1999471422630.10 2668.69287468877 1301830912162.53 8463.08109692072 4128425825468.83 4116.5364390506 2008112075476.10 4687.93029157883 2286847102386.09 4937.79923833206

69.5772558227 81304436064.51 62.1328702612477 72605306402.61 76.5054020937323 89400314794.96 68.7695007462844 80360534638.82 71.4224215592535 83460602729.63 72.0652755648583

0 0.00 0 0.00 0 0.00 0 0.00 154.106835549722 64767150834.70 155.743789777212

712.150958678397 386591439758.03 657.631640481671 356995605532.92 885.64479342328 480772639047.06 756.85435166099 410858694958.08 607.272441988468 329658093993.69 613.403050010629

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

754.421792602089 327287681846.71 352.838190116059 153070330738.69 490.109426355413 212622142647.58 412.135836815658 178795183225.17 463.814448542965 201214701323.86 470.51686768213

1394.65848248262 201465432926.78 1338.14565270695 193301870406.15 2273.09739376913 328360352209.84 1696.62862279106 245086538604.14 1724.52184540667 249115854913.88 1765.61342170327

222.828322846466 367464600668.45 176.865975300433 291668420582.20 316.417891078921 521802491282.86 228.674788877811 377105966173.90 232.322447205766 383121293551.20 238.428110296884

1014.6789063802 434053767925.41 986.473960429375 421988411104.54 1493.35006577683 638817086672.75 1194.80141672872 511105585809.23 1167.85407673432 499578200755.11 1189.37004858166

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

54.2886012786046 39218596329.83 20.5596492616615 14852484059.00 26.9773825628955 19488714976.09 23.4219517317306 16920238292.92 -17.6811290365641 -12773013966.26 -17.8907726688832

607.255145173583 1092386959910.95 543.373262540697 977470295775.02 774.172788649045 1392653921106.54 641.508761843736 1154005547217.56 718.720637094283 1292901440227.83 729.944408029095

451.158472585396 66285176031.30 339.687595708252 49907634335.54 427.409400339888 62795911105.49 379.722666288245 55789673268.80 364.92397286005 53615417306.59 368.561314533257

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

1911.85905715434 546213504113.81 1504.0256557567 429696488678.78 2103.50184063114 600965383395.54 1761.97843827117 503392974152.37 1783.42863616322 509521243760.28 1809.75952867909

78.9724546941061 119449264363.34 103.993097336271 157294072012.80 133.727235073202 202268245513.07 117.402987508495 177577112757.45 37.9283430155603 57368264533.22 38.3434756840717

Page 35: Sensex valuation aug 11 update

4117.90921582118 341154598098.61 1741.73933843764 144297106335.97 -64769.0719029466 -5365894568383.12 0 0.00 0 0.00 0

902.583229726035 529966454357.19 691.352058072372 405938629106.12 1848.58432576093 1085426416576.74 1019.06516758693 598360722688.02 1203.36999183809 706578304194.56 1257.98587384212

517.404334114875 170302540401.09 590.479034671307 194354923273.18 804.921401414121 264938173968.98 684.103541944663 225171231489.32 683.357360425108 224925627423.02 692.644574350792

586.658932988367 97452886903.52 441.875437332046 73402167082.69 634.656925624643 105426076579.77 523.574122607347 86973549513.95 484.181446772014 80429832599.16 491.922346376727

420.359247662345 261064084362.14 437.057626803338 271434611678.99 558.004540088321 346548684579.17 491.818803916989 305444037286.42 585.962291471719 363911844320.08 582.373743392359

582.850677974098 285528383389.39 509.099950244932 249399187940.06 856.625179364234 419645737540.66 642.819791195021 314906206214.92 403.561871896059 197697923729.96 412.792250299475

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0

16403.52 12943.70 17864.48 16940.69 17765.80 18318.319.22% 7.90% 10.66% 9.30% 9.63% 9.75%

0.00 -4563.37 0.00 0.00 0.00 0.00

Page 36: Sensex valuation aug 11 update

BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE

No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs.Jul-10 Jul-10 Aug-10 Aug-10 Aug-10 Sep-10 Sep-10 Sep-10 Oct-10 Oct-10 Oct-10 Nov-10 Nov-10 Nov-10 Dec-10 Dec-10 Dec-10

Beta EPS Beta EPS Beta EPS Beta EPS Beta EPS Beta EPS

0.85 78.85 849.57 0.85 78.85 975.43 0.85 60.44 1002.18 0.85 60.44 1049.06 0.85 60.44

0.91 78.69 1501.7 0.91 78.69

1.01 91.64 2481.05 1.01 91.64 2456.24 1.01 97.37 2544.53 1.01 97.37 2355.44 1.01 97.37 2288.98 1.01 97.37

0.68 22.83 319.99 0.68 22.83 355.18 0.68 22.31 340.93 0.68 22.31 328.75 0.68 22.31 343.25 0.68 22.31

0.51 12.49 313.15 0.51 12.49 312.56 0.51 12.33 337.46 0.51 12.33 344.27 0.51 12.33 363.37 0.51 12.33

1.63 5.17 315.57 1.63 5.17 343.36 1.63 5.66 375.16 1.63 5.66 328.8 1.63 5.66 289.84 1.63 5.66

0.92 68.55 2137.47 0.92 68.39 2347.47 0.92 73.04 2383.76 0.92 73.04 2347.87 0.92 72.86 2262.67 0.92 72.77

0.44 111.34 1864.85 0.44 111.34 1773.47 0.44 106.76 1846.77 0.44 106.76 1881.05 0.44 106.76 1848.11 0.44 106.76

1.33 9.7 167.58 1.33 9.7 186.47 1.33 10.17 211.26 1.33 10.17 217.53 1.33 10.17 228.32 1.33 10.17

0.47 9.66 263.17 0.47 9.66 286.94 0.47 9.67 299.45 0.47 9.67 300.79 0.47 9.67 297.53 0.47 9.67

0.92 101.49 616.39 0.92 20.27 681.09 0.92 21.23 717.94 0.92 21.21 708.62 0.92 21.19 697.76 0.92 21.17

1.38 37.4 974.49 1.38 36.37 1080.39 1.38 38.06 1131.58 1.38 38.05 1199.73 1.38 38.04 1123.8 1.38 38.04

0.47 11.11 158.83 0.47 5.55 169.92 0.47 5.85 172.38 0.47 5.84 173.33 0.47 5.83 169.33 0.47 5.83

0.45 100.38 2789.1 0.45 100.38 2947.18 0.45 103.9 3058.64 0.45 103.9 3030.94 0.45 103.9 3264.5 0.45 103.88

1.7 9.64 117.98 1.7 9.63 120.27 1.7 6.08 128.32 1.7 6.08 124.67 1.7 6.08 1.7 6.08

1.45 17.3 663.86 1.45 17.3 703.95 1.45 19.15 716.1 1.45 19.15 675.92 1.45 19.15 691.61 1.45 19.15

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

30 days Avg. Closing

Page 37: Sensex valuation aug 11 update

1.2 54.22 1819.68 1.2 54.22 1942.74 1.2 56.1 2032.7 1.2 55.84 2069.77 1.2 55.84 1975.26 1.2 55.84

1.1 37.32 629.91 1.1 37.29 668.1 1.1 39.73 717.39 1.1 38.67 776.04 1.1 38.63 768.38 1.1 38.63

0.74 82.36 1232.5 0.74 82.36 1376.77 0.74 83.34 1510.38 0.74 83.34 1447.92 0.74 83.34 1407.33 0.74 83.34

0.69 10.04 196.02 0.69 10.04 205.84 0.69 7.85 208.24 0.69 7.85 187.85 0.69 7.85 193.86 0.69 7.85

0.9 72.75 1272.17 0.9 72.75 1389.78 0.9 72.31 1357.56 0.9 72.31 1300.56 0.9 72.31 1313.29 0.9 72.31

1.31 -1.76 167.91 1.31 -1.76 166.15 1.31 -3.21 177.86 1.31 -3.21 161.6 1.31 -3.21 133.07 1.31 -3.21

1.03 53.26 979.38 1.03 53.25 987.37 1.03 56.52 1055.45 1.03 56.51 1045.38 1.03 56.51 1040.88 1.03 56.51

1.54 43.95 1064.78 1.54 43.95 1056.05 1.54 38.38 1073.89 1.54 38.38 986.15 1.54 38.38 815.72 1.54 38.38

1.08 140.26 2742.42 1.08 140.23 3039.86 1.08 140.41 3210.93 1.08 140.41 3114.94 1.08 140.41 2795.43 1.08 140.41

1.41 4.12 164.43 1.41 4.12 168.32 1.41 4.69 174.33 1.41 4.69 175.55 1.41 4.69 174.31 1.41 4.69

0.49 30.14 860.85 0.49 30.14 897.97 0.49 32.51 985.21 0.49 32.51 1054.68 0.49 32.51 1120.46 0.49 32.51

1.16 58.71 969.33 1.16 58.71 1049.61 1.16 52.85 1155.24 1.16 52 1223.13 1.16 50.41 1313.64 1.16 49.87

1.01 35 1299.25 1.01 35 1289.29 1.01 37.89 1406.01 1.01 37.89 1349.79 1.01 37.89 1306.51 1.01 37.89

1.45 64.69 524.52 1.45 64.69 602.53 1.45 77.57 635.75 1.45 77.57 613.04 1.45 77.57 648.95 1.45 77.57

0.75 19.63 414.76 0.75 19.62 423.19 0.75 19.37 456.56 0.75 19.36 423.48 0.75 19.36 462.66 0.75 19.36

Page 38: Sensex valuation aug 11 update

85972165674.16 849.57 87726552153.31 975.43 100722848931.69 1002.18 103485052481.84 1049.06 108325878740.95 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1501.70 238998349663.70

415379014120.00 2481.05 425083258600.00 2456.24 420832511680.00 2544.53 435959413960.00 2355.44 403562246080.00 2288.98 392175521360.00

394407678240.46 319.99 425310079396.66 355.18 472082358824.05 340.93 453142177470.25 328.75 436953306671.00 343.25 456225771908.20

172967727489.01 313.15 163432634913.96 312.56 163124714573.55 337.46 176119996736.59 344.27 179674128123.35 363.37 189642396770.51

129736771612.65 315.57 133912383533.85 343.36 145705092404.80 375.16 159199448003.80 328.80 139526544684.00 289.84 122993837321.20

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

744423124438.20 2137.47 786060069553.13 2347.47 863288107657.13 2383.76 876633848146.62 2347.87 863435208682.09 2262.67 832102690365.61

195037776562.50 1864.85 186193617187.50 1773.47 177069895312.50 1846.77 184388442187.50 1881.05 187811085937.50 1848.11 184522232812.50

202669671809.11 167.58 224462253663.14 186.47 249764151095.40 211.26 282968705745.77 217.53 291366953331.80 228.32 305819440006.98

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

286288948742.40 263.17 287129049697.17 286.94 313063075274.94 299.45 326711988189.45 300.79 328173982058.79 297.53 324617191003.53

155995577762.57 616.39 161405526290.55 681.09 178347620664.24 717.94 187997020628.24 708.62 185556521098.67 697.76 182712763063.15

989601479797.11 974.49 1087003331996.67 1080.39 1205130406526.37 1131.58 1262230736509.14 1199.73 1338249245755.59 1123.80 1253552467955.40

401950925213.67 158.83 424508713688.99 169.92 454149220109.76 172.38 460724120542.14 173.33 463263208107.49 169.33 452572313095.49

1361269881626.86 2789.10 1360567426679.23 2947.18 1437681369818.40 3058.64 1492053334028.24 3030.94 1478540832605.20 3264.50 1592475122582.33

147073583200.16 117.98 137865416700.74 120.27 140541394021.00 128.32 149948213858.61 124.67 145683009832.86 0.00 0.00

263965916574.36 663.86 279003332978.37 703.95 295852131850.28 716.10 300958465257.45 675.92 284071841693.64 691.61 290665946315.75

1003735836224.30 1819.68 987814033704.86 1942.74 1054617205134.85 2032.70 1103452028000.46 2069.77 1123575492691.75 1975.26 1072270700461.55

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

Page 39: Sensex valuation aug 11 update

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

270924248633.25 629.91 273271246527.74 668.10 289839056063.85 717.39 311222332629.32 776.04 336666219230.34 768.38 333343113154.23

194196675030.20 1232.50 178040824475.00 1376.77 198881351653.10 1510.38 218181988211.40 1447.92 209159327037.60 1407.33 203295897369.90

330709086155.20 196.02 323255186337.60 205.84 339449278419.20 208.24 343407101331.20 187.85 309782097508.00 193.86 319693145716.80

542781681938.10 1272.17 544201893298.02 1389.78 594512452948.68 1357.56 580729558365.36 1300.56 556346411523.36 1313.29 561791980984.74

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

135328954466.21 167.91 121299763756.05 166.15 120028323197.35 177.86 128487737369.13 161.60 116741360389.36 133.07 96131019969.13

1898551550617.92 979.38 1761799713515.42 987.37 1776172867664.98 1055.45 1898641495262.16 1045.38 1880526643912.22 1040.88 1872431625930.62

169847890609.49 1064.78 156439774543.42 1056.05 155157144111.06 1073.89 157778235395.51 986.15 144887285322.78 815.72 119847342071.18

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

687234098501.61 2742.42 783502754738.30 3039.86 868480642650.93 3210.93 917354927499.02 3114.94 889930816886.01 2795.43 798647583403.74

255302198848.74 164.43 248707509667.03 168.32 254591303455.30 174.33 263681689231.00 175.55 265526992167.17 174.31 263651438363.19

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

471265543079.87 860.85 505462108321.98 897.97 527257721333.44 985.21 578482109240.75 1054.68 619272552018.38 1120.46 657896351153.45

265283317971.96 969.33 319052915877.46 1049.61 345476907796.25 1155.24 380244798508.54 1223.13 402590648176.78 1313.64 432381822922.30

219461257238.33 1299.25 215824998461.10 1289.29 214170492411.71 1406.01 233559442821.85 1349.79 224220453856.31 1306.51 217030993834.45

315629999083.78 524.52 325753113060.14 602.53 374201218661.12 635.75 394832497574.90 613.04 380728453501.09 648.95 403030356745.94

197760691453.78 414.76 203183691415.12 423.19 207313401412.78 456.56 223660782506.72 423.48 207455467355.76 462.66 226649066134.92

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

18619.98 19784.30 20705.18 20585.04 20436.80

Page 40: Sensex valuation aug 11 update

18619.9836258187 19784.3025569707 20705.1803594599 20585.0430523289 20436.7964157048

Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap

143778024686.30 1476.34925711452 152447744271.52 1158.53080819436 119629828461.78 1186.92588247353 122561902292.83 1174.53920656634 121282854810.02 0 0.00

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

0.00 0 0.00 0 0.00 0 0.00 1383.51445837904 220188900771.43 1384.44339365499 220336742549.35

220674459861.27 1349.93656309226 231287331227.72 1461.38897757654 250382696306.14 1489.67659377939 255229270165.41 1477.37186115813 253121075715.95 1478.23513666079 253268982434.37

736479899514.34 600.345097052589 797940000915.14 606.135137041959 805635748805.97 627.088173526161 833485174133.94 617.89753248467 821269566549.14 618.538461027096 822121447449.37

252911030407.97 551.496141236412 287825219566.17 574.974643158043 300078623471.28 609.406294553279 318048463841.59 594.098265453636 310059220568.10 595.155249228805 310610859218.70

17218481864.71 41.7006832865416 17695718521.69 46.145122863121 19581720033.79 46.6516159566974 19796650785.78 46.4323253699158 19703594648.75 46.4477616907746 19710145063.93

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

Page 41: Sensex valuation aug 11 update

400265105799.43 1144.75621129418 420987030026.75 1248.64777420895 459193418500.40 1276.03714040287 469265928100.72 1260.99085801857 463732619199.30 1260.26633410385 463466173673.15

572389829451.94 6824.69687613002 681403328726.11 7061.46855739237 705043501277.14 7672.54154622471 766055320005.87 7397.11104634613 738555306033.62 7415.93298211656 740434558683.20

129678972157.10 100.168870898501 134169534006.27 106.4407271607 142570267931.94 107.908379805821 144536090943.75 107.271945705487 143683629835.80 107.316695523137 143743569237.41

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

475952368274.64 507.659324782545 553876731750.27 542.353295310001 591729248328.04 581.745912031875 634708176794.18 564.115895519185 615473120034.55 565.327176649105 616794676442.00

421959367628.94 339.292417062919 88845813758.23 362.935271720374 95036841190.53 370.546929736375 97030000826.50 366.736155385856 96032126040.05 366.632380005203 96004951816.05

398350323876.09 358.819374296106 400248186687.22 380.354552829228 424269788571.94 385.27877945149 429762559914.81 383.000115157381 427220804042.30 383.153251114097 427391620874.90

1340953582547.64 291.667624486866 779546987947.13 328.104113501914 876931657613.57 351.333622157823 939017717168.74 340.102964930387 909001272835.17 340.833240937361 910953098865.26

2408737156486.37 5829.59957062022 2843771570172.86 6484.6926774567 3163336427153.18 7012.13889309582 3420633096445.72 6775.02789218561 3304966571636.38 6789.95656546775 3312249016364.50

84211809165.98 73.899569734299 86355271871.71 47.1382610816739 55083370118.44 47.632815300027 55661280979.55 47.4187519553438 55411137461.88 47.4338232269259 55428748981.94

65455120716.00 160.641233192872 67513390586.22 179.997634720981 75648389743.89 182.245727806836 76593205614.40 181.271570653583 76183792345.64 181.340102310652 76212594443.57

332986097070.84 637.321490238038 345970232150.07 669.464638458453 363419153333.78 676.744124223212 367370825164.31 672.237486262284 364924394900.40 672.554137459744 365096289132.71

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

204122384060.93 490.481288259039 212783465957.16 531.423201443299 230545126592.96 526.218044219748 228286994791.82 521.778861453566 226361162517.25 522.052335440623 226479802604.46

255051739800.55 1895.22462934721 273774730689.09 1973.52296671746 285085319362.86 2033.04099817628 293682998382.78 2006.9971613026 289920835145.88 2008.81654716634 290183654585.41

393190099082.45 257.879771838099 425267695634.23 208.16399007942 343281753912.36 215.187928347216 354864880499.34 212.108395957284 349786445561.38 212.323223558944 350140716229.70

508782184983.22 1255.77201668283 537187254085.12 1275.5803996903 545660775340.80 1304.42237613446 557998637566.26 1291.85390599706 552622166462.06 1292.73454768815 552998882526.43

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

-12924462498.65 -18.5210550529949 -13379784422.85 -34.2441000148603 -24738260031.21 -34.72469959824 -25085449691.90 -34.5162633528275 -24934873387.17 -34.5309177708095 -24945459876.59

1313091801903.09 764.052552458479 1374448700230.84 825.884103401419 1485677037278.24 841.318296848071 1513441498052.05 834.542903693518 1501253291514.60 835.018343885262 1502108557492.68

54149823391.69 379.415430509484 55744533525.42 335.128013281489 49237730649.47 339.041814608955 49812754783.35 337.346632896849 49563695029.36 337.465926905793 49581221962.50

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

517043916006.29 1889.43694490029 539807560925.64 1924.63350263375 549863132260.98 1958.8057142493 559626050390.33 1943.95446564237 555383084617.46 1944.99706214713 555680951914.80

57996170707.07 39.5870565078307 59877140662.35 45.633412984587 69022517186.67 46.2217061136327 69912336070.56 45.9667260462453 69526667654.98 45.98466094616 69553794969.30

Page 42: Sensex valuation aug 11 update

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

738646909486.56 1446.39625450815 849275135357.73 1655.54270730161 972078883951.62 1764.20227430185 1035880119736.36 1715.74791061559 1007429350349.99 1719.08607599642 1009389408561.43

227982494210.77 720.758743717563 237236213495.16 659.112464606855 216945471329.68 659.042955375922 216922592513.58 634.458289469913 208830601815.69 627.969941644062 206694975875.02

81715712641.71 515.580311089361 85645656992.45 568.67647489345 94465729704.63 579.684154650313 96294271145.14 574.895961993239 95498880209.72 575.231892041464 95554683251.59

361683176760.75 600.686784696352 373056489912.54 729.107912548643 452812423300.36 738.214156970039 458467855826.39 734.268184626549 456017209950.28 734.545782571139 456189612136.33

202219725150.45 442.277052244044 216663815467.12 449.078931035288 219995937275.79 462.103389156785 226376392189.01 456.304688399693 223535709805.85 456.709877409483 223734204836.06

0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

18619.98 19784.30 20705.18 20585.04 20436.8010.09% 10.22% 10.35% 10.29% 10.29%

0.00 0.00 0.00 0.00 0.00

Page 43: Sensex valuation aug 11 update

BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE BSE

Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs. Rs. No. Rs.Jan-11 Jan-11 Jan-11 Feb-11 Feb-11 Feb-11 Mar-11 Mar-11 Mar-11 Apr-11 Apr-11 Apr-11 May-11 May-11 May-11 Jun-11 Jun-11 Jun-11

30 days Avg. Closing Beta EPS 30 days Avg. Closing Beta EPS Beta EPS Beta EPS Beta EPS Beta EPS

1489.54 0.91 78.691,268.30

0.91 78.691,459.80

0.91 135.81,462.80

0.91 135.81,344.35

0.91 135.81,405.90

0.91 119.58

2301.09 1.01 97.372,000.65

1.01 97.372,060.85

1.01 122.82,000.75

1.01 122.81,944.10

1.01 122.82,046.55

1.01 125.82

344.32 0.68 22.31331.1

0.68 22.31357.5

0.68 20.32378.8

0.68 20.32374.15

0.68 20.32395.25

0.68 19.01

364.16 0.51 12.33299.7

0.51 12.33321.05

0.51 12.82308.85

0.51 12.82326.1

0.51 12.82330.35

0.51 12.06

287.9 1.63 5.66212.05

1.63 5.66267.2

1.63 7.48222.9

1.63 7.48238.55

1.63 7.48210.55

1.63 6.82

2260.31 0.92 72.772,049.70

0.92 72.772,342.95

0.92 84.672,292.50

0.92 84.672,388.30

0.92 84.672,502.60

0.92 71.66

1864.29 0.44 106.761,464.95

0.44 106.761,586.55

0.44 96.541,709.65

0.44 96.541,853.15

0.44 96.541,877.75

0.44 99.86

230.95 1.33 10.17200.8

1.33 10.17208.65

1.33 10.93215.55

1.33 10.93197.1

1.33 10.93181

1.33 11.16

299.37 0.47 9.67282.1

0.47 9.67284.6

0.47 10.59285.2

0.47 10.59304.85

0.47 10.59342.75

0.47 11.05

700.3 0.92 21.17629.5

0.92 21.17698.9

0.92 43.27705.45

0.92 43.27682.55

0.92 43.27703.85

0.92 24.97

1117.88 1.38 38.04971

1.38 38.041,112.75

1.38 45.031,114.25

1.38 45.031,086.00

1.38 45.031,093.10

1.38 47.39

169.79 0.47 5.83169

0.47 5.83181.45

0.47 7.88191.95

0.47 7.88193.35

0.47 7.88202.45

0.47 6.8

3297.95 0.45 103.883003.05

0.45 103.883236.75

0.45 112.252905.95

0.45 112.252791.85

0.45 112.252907.4

0.45 116.14

104.42 1.7 6.0877.5

1.7 6.0892.5

1.7 5.2192.7

1.7 5.2186.5

1.7 5.2180.85

1.7 5.48

696.22 1.45 19.15659.05

1.45 19.15698.6

1.45 22.1653.2

1.45 22.1649.55

1.45 22.1651.15

1.45 22.46

30 days Avg.

Closing 30 days

Avg. Closing 30 days

Avg. Closing 30 days

Avg. Closing

Page 44: Sensex valuation aug 11 update

1971.44 1.2 55.841528.05

1.2 55.841653.25

1.2 61.41597.9

1.2 61.41644

1.2 61.41822.65

1.2 65.21

767.39 1.1 38.63614.1

1.1 38.63698.6

1.1 45.82753.8

1.1 45.82672.15

1.1 45.82701.3

1.1 46.07

1409.68 0.74 83.341206.7

0.74 83.341263.55

0.74 79.221319.75

0.74 79.221227.5

0.74 79.221158.45

0.74 82.12

195.29 0.69 7.85170.05

0.69 7.85193

0.69 11.04181.95

0.69 11.04168.95

0.69 11.04186.85

0.69 11.33

1310.7 0.9 72.31270.65

0.9 72.31290.1

0.9 78.69308.9

0.9 78.69281.6

0.9 78.69273.95

0.9 66.36

133.59 1.31 -3.2186

1.31 -3.21107.7

1.31 -3.2199.8

1.31 -3.2189.4

1.31 -3.2195.7

1.31 -3.21

1046.35 1.03 56.51964.95

1.03 56.511047.8

1.03 62981.95

1.03 62951.75

1.03 62897.6

1.03 64.46

817.09 1.54 38.38609.55

1.54 38.38687.8

1.54 34.03657.1

1.54 34.03569.3

1.54 34.03536

1.54 42.42

2766.17 1.08 140.412632

1.08 140.412767.9

1.08 159.232805.6

1.08 159.232297.8

1.08 159.232405.95

1.08 130.16

176.7 1.41 4.69163.5

1.41 4.69173.4

1.41 4.22181.1

1.41 4.22171.6

1.41 4.22168.05

1.41 3.99

1125.98 0.49 32.511112.95

0.49 32.511182.5

0.49 38.671163.6

0.49 38.671158.8

0.49 38.671180.35

0.49 41.26

1312.29 1.16 49.871081.8

1.16 49.871247.5

1.16 31.461229.1

1.16 31.461092.5

1.16 31.46993.5

1.16 29.99

1313.94 1.01 37.891154.65

1.01 37.891330.35

1.01 37.851303.05

1.01 37.851232.6

1.01 37.851303.6

1.01 40.87

656.65 1.45 77.57605.95

1.45 77.57620.5

1.45 81.82614.75

1.45 81.82589.1

1.45 81.82608.7

1.45 75.25

468.09 0.75 19.36438.4

0.75 19.36478.3

0.75 19.75450.25

0.75 19.75446.65

0.75 19.75417.6

0.75 20.19

Page 45: Sensex valuation aug 11 update

30 days Avg. Closing 30 days Avg. Closing Sensex Contribution Sensex Contribution Sensex Contribution

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1489.54 237063063033.94 1268.30 201852305306.30 1459.80 232329886687.80 1462.80 232807342270.80 1344.35 213955804335.35 1405.90 223751601379.90

2301.09 394250351880.00 2000.65 342775365800.00 2060.85 353089552200.00 2000.75 342792499000.00 1944.10 333086541200.00 2046.55 350639504600.00

344.32 457647946929.15 331.10 440076775174.96 357.50 475165953262.00 378.80 503476540127.68 374.15 497296059896.44 395.25 525340819655.40

364.16 190054696887.33 299.70 156413094950.39 321.05 167555636082.15 308.85 161188469721.14 326.10 170191225436.51 330.35 172409295685.22

287.90 122170596759.50 212.05 89983588200.25 267.20 113386535096.00 222.90 94587794434.50 238.55 101228884532.75 210.55 89347061992.75

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

2260.31 831234794318.34 2049.70 753782427151.28 2342.95 861625866075.08 2292.50 843072749302.00 2388.30 878303444779.92 2502.60 920337562662.24

1864.29 186137704687.50 1464.95 146266101562.50 1586.55 158407101562.50 1709.65 170697867187.50 1853.15 185025445312.50 1877.75 187481601562.50

230.95 309342149919.46 200.80 268958232101.44 208.65 279472784501.82 215.55 288714875146.74 197.10 264002328422.28 181.00 242437450250.80

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

299.37 326624704973.37 282.10 307782440702.10 284.60 310510041204.60 285.20 311164665325.20 304.85 332603605274.85 342.75 373954028892.75

700.30 183377877741.81 629.50 164838460714.65 698.90 183011279100.03 705.45 184726437031.22 682.55 178729930676.39 703.85 184307467154.90

1117.88 1246948952552.04 971.00 1083110381193.00 1112.75 1241226649508.25 1114.25 ### 1086.00 1211388129738.00 1093.10 1219307886387.30

169.79 453801766021.87 169.00 451690314257.00 181.45 484965724981.85 191.95 513029324388.35 193.35 516771137642.55 202.45 541092923794.85

3297.95 1608792565636.51 3003.05 1464935646154.34 3236.75 1578938230362.49 2905.95 ### 2791.85 1361908920502.82 2907.40 1418276051890.29

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

696.22 292603411089.99 659.05 276981813333.23 698.60 293603664053.70 653.20 274523208359.40 649.55 272989206965.47 651.15 273661645932.68

1971.44 1070197011896.11 1528.05 829502568694.89 1653.25 897467440001.85 1597.90 867420669819.42 1644.00 892446073711.20 1822.65 989426299421.97

Sensex Contribution

30 days Avg.

Closing Sensex

Contribution 30 days

Avg. Closing Sensex

Contribution 30 days

Avg. Closing 30 days

Avg. Closing

Page 46: Sensex valuation aug 11 update

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

767.39 332913625554.32 614.10 266412459704.85 698.60 303070744748.10 753.80 327017932137.30 672.15 291596050790.77 701.30 304242074566.05

1409.68 203635366690.40 1206.70 174313884701.00 1263.55 182526153156.50 1319.75 190644525842.50 1227.50 177318549325.00 1158.45 167343929503.50

195.29 322051348535.20 170.05 280428244244.00 193.00 318274925840.00 181.95 300052449516.00 168.95 278614242076.00 186.85 308133004628.00

1310.70 560684045014.20 270.65 115777170048.90 290.10 124097384190.60 308.90 132139544903.40 281.60 120461300889.60 273.95 117188825918.70

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

133.59 96506672861.48 86.00 62127209118.10 107.70 77803493279.30 99.80 72096458953.33 89.40 64583401106.49 95.70 69134580379.09

1046.35 1882271570010.48 964.95 1735841689187.76 1047.80 1884879964693.44 981.95 ### 951.75 1712096303108.40 897.60 1614686253396.48

817.09 120048625426.55 609.55 89556400921.26 687.80 101053059722.16 657.10 96542549496.12 569.30 83642784093.96 536.00 78750276259.20

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

2766.17 790288072240.74 2632.00 751956028059.60 2767.90 790782329052.50 2805.60 801553127782.68 2297.80 656475897141.09 2405.95 687374090315.35

176.70 267266417066.01 163.50 247300844314.05 173.40 262275023878.02 181.10 273921607983.33 171.60 259552445775.48 168.05 254182916739.92

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1125.98 661137509122.82 1112.95 653486732249.46 1182.50 694324148331.00 1163.60 683226705283.68 1158.80 680408307049.44 1180.35 693061740788.58

1312.29 431937473282.41 1081.80 356072178098.52 1247.50 410611982046.50 1229.10 404555661028.74 1092.50 359594060429.50 993.50 327008420170.90

1313.94 218265228768.89 1154.65 191804760033.18 1330.35 220991176988.82 1303.05 216456235708.86 1232.60 204753429365.52 1303.60 216547598994.72

656.65 407812441262.38 605.95 376325209446.34 620.50 385361486032.60 614.75 381790448893.70 589.10 365860518004.52 608.70 378033096773.64

468.09 229309128446.58 438.40 214764515180.80 478.30 234310829404.60 450.25 220569623540.50 446.65 218806046317.30 417.60 204574957891.20

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

20489.61 17736.83 19335.19 18901.59 18288.41 18640.94

Page 47: Sensex valuation aug 11 update

20489.611276462 17736.8320286952 19335.193 18901.594989 18288.412159 18640.935168

EPS*(1+g)/(r-g) Avalible MarketCap EPS*(1+g)/(r-g) Avalible MarketCap Avalible MarketCap Avalible MarketCap Avalible MarketCap

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

1386.13305777947 220605655739.22 1287.05137203729 204836621062.34 2194.8253 349310527851.70 2166.2708705 344766040477.17 2124.2796307 338083056513.66 1913.764213 304579136017.67

1479.80498532894 253537947746.38 1386.90145913017 237620600795.69 1730.8895 296556755807.28 1711.0518584 293157937008.73 1681.7658949 288140314303.87 1758.1763777 301231875141.10

619.705464600922 823672553367.18 553.798735085865 736073577265.36 495.56089 658667588733.44 486.08273849 646069839995.77 472.35592286 627825041574.14 456.93372626 607326852073.03

597.083835447709 311617386210.29 495.752061678439 258732446763.96 501.18642 261568631581.22 486.2138745 253754477537.62 465.10239496 242736419969.14 460.8367448 240510181916.59

46.4758124139335 19722048410.88 44.7703502499706 18998334168.71 58.804518 24953744606.32 58.406994362 24785055075.24 57.813176816 24533068121.39 53.343719055 22636450122.51

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

EPS*(1+g)/(r-g)

EPS*(1+g)/(r-g)

Avalible MarketCap

EPS*(1+g)/(r-g)

EPS*(1+g)/(r-g)

Page 48: Sensex valuation aug 11 update

1261.78165602576 464023437192.79 1172.83077582027 431311523069.49 1348.6748 495978623368.44 1331.3644776 489612698138.06 1305.8972673 480247066297.08 1130.4257238 415716956541.13

7450.34994388743 743870877210.01 5763.23285284309 575422780151.05 5020.8182 501297321502.93 4824.4053237 481686719041.31 4553.7370885 454662187425.43 5039.6753356 503180084284.52

107.398033834402 143852516490.40 102.497822351802 137289009432.21 109.32079 146427918606.75 108.4047709 145200973769.48 107.04198048 143375606731.59 110.91862167 148568109514.11

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

567.539591096873 619208509545.79 455.177516447812 496616969035.90 482.46114 526384501306.64 465.80450092 508211436311.43 442.58791152 482881203939.61 490.27549959 534910279618.06

367.073212286179 96120386469.95 341.195925850147 89344259283.95 689.23066 180479302022.90 680.38432677 178162835771.78 667.36949047 174754820550.91 393.89799503 103144621413.38

383.431581012195 427702086376.47 366.632311124398 408963194912.07 430.83623 480580018239.69 427.36749076 476710778395.64 422.20267646 470949641445.88 450.67404222 502708273593.31

342.167095769883 914518124359.19 274.424500609177 733460881183.31 358.99847 959503738413.49 346.60429341 926377527899.98 329.32887089 880205095779.88 301.70799975 806382137395.80

6819.62678329875 3326722621442.60 5346.08641428867 2607906147321.20 5574.7923 2719472542132.62 5365.9889133 ### 5077.0574797 2476669545819.28 5604.501395 2733965092962.81

47.4612094591464 55460751137.53 45.7935002714408 53511951153.65 39.010884 45586131009.27 38.758220918 45290882161.94 38.380526823 44849528086.77 40.833016437 47715382490.11

181.464653330316 76264940042.97 173.929385078048 73098060042.26 199.33429 83775089086.07 197.8120131 83135316119.06 195.54305142 82181729712.29 201.41939834 84651407621.80

673.129777400523 365408775510.46 638.650417348937 346691640776.81 696.25883 377964393578.13 689.72200516 374415873150.59 680.02153302 369149967875.20 734.2465885 398586061462.62

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

522.549557897257 226695510563.57 492.935423314673 213848133204.55 579.17727 251262078332.09 573.17250796 248657055332.24 564.28345048 244800752341.28 577.79960936 250664411571.08

2012.12806719114 290662020309.94 1822.60898656786 263285035832.93 1705.5607 246376823080.11 1676.5502652 242186118861.70 1634.3129631 236084728110.96 1745.3562169 252125484676.58

212.714355000144 350785728304.53 190.570500060081 314268454787.12 263.41294 434392406393.80 258.47768638 426253712248.31 251.32319344 414455288884.94 266.51757724 439512239020.48

1294.33641565955 553684120806.57 1200.50391940501 513544971074.54 1290.7307 552141669994.09 1273.7061608 544859023741.65 1248.6817285 534154209570.13 1077.6868925 461006978055.79

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

-34.5575545377877 -24964702527.67 -32.9541052122537 -23806355649.09 -32.69961 -23622505848.92 -32.42104882 -23421270697.11 -32.00676926 -23121991245.33 -32.49034393 -23471330133.66

835.882886422402 1503663776911.35 784.640051556563 1411483405874.21 852.10651 1532848335553.40 842.56545155 ### 828.47082352 1490330269702.87 878.45887742 1580253424177.16

337.682719678278 49613073624.30 324.532139666285 47680962040.50 285.88213 42002419198.92 283.83276606 41701322273.46 280.7745822 41252007303.27 354.44707124 52076128319.24

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

1946.89274600655 556222544204.08 1834.13397259421 524007635623.52 2059.9619 588526136660.93 2038.1450436 582293104696.30 2005.8668306 573071297391.37 1670.478252 477251592452.44

46.017257360136 69603098459.81 44.0477704790746 66624164095.58 39.351104 59520252738.32 39.041504711 59051969898.67 38.580311409 58354395016.79 36.986504817 55943693391.41

Page 49: Sensex valuation aug 11 update

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

1725.17979525435 1012967435144.04 1409.93006953754 827863420497.19 1627.2082 955441821654.63 1575.0931711 924841627519.18 1502.0021104 881925019968.48 1694.1727986 994761171673.24

628.530014976536 206879322825.84 595.053927842725 195860739668.18 372.06004 122462773761.89 368.43051513 121268123497.27 363.04935216 119496925107.83 352.07511943 115884779652.50

575.842773894562 95656159930.44 539.69083173916 89650777702.19 533.50299 88622883316.03 527.38854106 87607181883.17 518.3618821 86107717842.01 571.10688727 94869457814.46

735.050295500399 456502939859.36 704.527540496301 437546784780.90 737.98785 458327306022.39 732.35198697 454827155516.63 723.95169535 449610154930.38 674.83569569 419106666428.86

457.447335827576 224095472855.29 415.162241265042 203380742396.58 417.05904 204309950462.34 410.09286251 200897342145.18 399.94280276 195925004869.12 420.98961934 206235473298.03

0 0.00 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00

20489.61 17736.83 19335.19 18901.60 18288.41 18640.9410.30% 9.85% 9.77% 9.69% 9.56% 9.71%

11.59%0.00 0.00 0.00 0.00 0.00 0.00

Page 50: Sensex valuation aug 11 update

BSE BSE BSE BSE BSE BSE

Rs. No. Rs. Rs. No. Rs.Jul-11 Jul-11 Jul-11 latest latest latest

Beta EPS 9-Aug-11 Beta EPS

1,464.850.91 119.58 1450.4 0.91 119.58

1,838.351.01 125.82 1756.95 1.01 125.82

4370.68 19.01 406.55 0.68 19.01

307.850.51 12.06 296.3 0.51 12.06

230.91.63 6.82 201.2 1.63 6.82

24370.92 71.66 466.9 0.92 71.66

1,787.200.44 99.86 1866.6 0.44 99.86

168.41.33 11.16 152.25 1.33 11.16

323.950.47 11.05 319.2 0.47 11.05

688.50.92 24.97 657.4 0.92 24.97

1,037.751.38 47.39 958.25 1.38 47.39

208.30.47 6.8 199.1 0.47 6.8

2766.80.45 116.14 2427 0.45 116.14

66.71.7 5.48 62 1.7 5.48

586.351.45 22.46 522.3 1.45 22.46

30 days Avg. Closing

Page 51: Sensex valuation aug 11 update

1725.951.2 65.21 1636.25 1.2 65.21

718.251.1 46.07 693.5 1.1 46.07

1207.90.74 82.12 1200 0.74 82.12

176.30.69 11.33 170.6 0.69 11.33

268.650.9 66.36 286 0.9 66.36

101.551.31 -3.21 85.95 1.31 -3.21

827.71.03 64.46 773 1.03 64.46

540.951.54 42.42 473.75 1.54 42.42

2218.251.08 130.16 2257 1.08 130.16

159.91.41 3.99 139.45 1.41 3.99

1134.450.49 41.26 975 0.49 41.26

947.41.16 29.99 816.5 1.16 29.99

1285.51.01 40.87 1190 1.01 40.87

565.11.45 75.25 501.3 1.45 75.25

389.950.75 20.19 350 0.75 20.19

Page 52: Sensex valuation aug 11 update

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

1464.85 233133603585.85 1450.40 230833859194.40

1838.35 314968182200.00 1756.95 301021757400.00

437.00 580832228183.20 406.55 540360051185.08

307.85 160666570839.09 296.30 154638638751.42

230.90 97982600874.50 201.20 85379381966.00

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

2437.00 896212994568.80 466.90 171703671384.56

1787.20 178440750000.00 1866.60 186368343750.00

168.40 225560589073.12 152.25 203928739230.30

0.00 0.00 0.00 0.00

323.95 353442473113.95 319.20 348260032159.20

688.50 180287974903.95 657.40 172144247932.98

1037.75 ### 958.25 ###

208.30 556728357749.90 199.10 532139299222.30

2766.80 ### 2427.00 ###

0.00 0.00 0.00 0.00

586.35 246427867761.08 522.30 219509295355.35

1725.95 936932664794.31 1636.25 888238983035.25

30 days Avg. Closing

Sensex Contribution

30 days Avg. Closing

Sensex Contribution

Page 53: Sensex valuation aug 11 update

0.00 0.00 0.00 0.00

718.25 311595422867.63 693.50 300858232869.75

1207.90 174487230737.00 1200.00 173346036000.00

176.30 290735074744.00 170.60 281335245328.00

268.65 114921621036.90 286.00 122343508716.00

0.00 0.00 0.00 0.00

101.55 73360675417.94 85.95 62091088647.68

827.70 ### 773.00 ###

540.95 79477540937.34 473.75 69604371973.50

0.00 0.00 0.00 0.00

2218.25 633748654727.66 2257.00 644819435915.85

159.90 241855688108.97 139.45 210924175777.33

0.00 0.00 0.00 0.00

1134.45 666110807673.66 975.00 572487141330.00

947.40 311834702838.36 816.50 268749245163.10

1285.50 213540916314.60 1190.00 197676927588.00

565.10 350955319511.72 501.30 311332333518.36

389.95 191029705051.90 350.00 171458896700.00

0.00 0.00 0.00 0.00

17902.00 15706.66

Page 54: Sensex valuation aug 11 update

17901.995804 15706.6585241

EPS*(1+g)/(r-g)

0 0.00 0 0.00

0 0.00 0 0.00

1869.0045118 297455546262.68 2156.64236723 343233646256.89

1721.8640805 295010416646.32 1951.73335581 334394379317.04

441.37044338 586641139780.64 547.762575663 728050703289.55

436.71853252 227922913891.23 622.502523836 324883371263.43

52.689089709 22358657632.64 56.6537894515 24041081160.05

0 0.00 0 0.00

0 0.00 0 0.00

EPS*(1+g)/(r-g)

Avalible MarketCap

Avalible MarketCap

Page 55: Sensex valuation aug 11 update

1104.335128 406122073070.48 1271.71397352 467676072401.29

4699.057395 469171511782.08 7645.96394897 763401713030.37

109.23569774 146313944955.38 119.582256374 160172471440.08

0 0.00 0 0.00

460.82975729 502783791015.97 700.874109809 764681829642.06

384.80670034 100764009779.64 443.130029567 116036333550.80

444.10042899 495375679645.19 484.391344588 540318531290.27

283.58754295 757951162084.44 431.307144498 ###

5240.9252795 ### 8318.09442283 ###

40.352708597 47154119221.00 43.2540880503 50544523419.79

198.63086661 83479459247.32 215.656616241 90634945184.20

721.78388277 391820676549.82 799.13364403 433810026146.75

0 0.00 0 0.00

566.98595721 245973169642.36 634.726896208 275360940660.30

1692.3155931 244463499763.66 2047.06861683 295709358456.12

257.619822 424839014212.51 318.198860747 524739475681.36

1052.1401508 450078733240.12 1216.6 520430463999.60

0 0.00 0 0.00

-31.9892764 -23109354237.45 -35.073845423 -25337675920.77

860.72623148 ### 972.695305241 ###

349.83745069 51398872925.40 377.860433604 55516070025.68

0 0.00 0 0.00

1638.5530313 468130634185.78 1838.97124143 525389631618.76

36.459161835 55146064249.31 39.6858316222 60026542308.68

Page 56: Sensex valuation aug 11 update

0 0.00 0 0.00

1599.4254523 939128723038.10 2348.35827664 ###

345.86932414 113842155283.56 384.519318287 126563718971.66

559.3115957 92910082187.50 633.979830328 105313600850.35

665.49299698 413304383983.08 722.536080682 448730987532.05

408.42032367 200077994530.81 492.225960265 241132914497.48

0 0.00 0 0.00

17902.00 23612.799.55% 10.44%

0.00 7906.13

for ideal sensex value 14105

Page 57: Sensex valuation aug 11 update

Date Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10implied growth rate 0.0831 0.0775 0.0830 0.0783 0.0576 0.0482 0.0500 0.0496 0.0485 0.0451 0.0625 0.0766 0.0846 0.0854 0.0883 0.0904 0.0916 0.1067 0.1067 0.1068mean Implied Growth Rate 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865Rate of Inflation 7.69% 8.33% 9.02% 9.77% 10.45% 10.45% 9.70% 10.45% 9.63% 8.03% 8.70% 8.63% 9.29% 11.89% 11.72% 11.64% 11.49% 13.51% 14.97% 16.22%GDP Growth 7.80% 7.80% 7.80% 7.50% 7.50% 7.50% 6.10% 6.10% 6.10% 5.80% 5.80% 5.80% 6.00% 6.00% 6.00% 8.60% 8.60% 8.60% 6.50% 6.50%Benchmark Intrest Rate 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 5.50% 4.50% 4.00% 3.75% 3.38% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25%

FII Activity -10577.70 -1012.90 -2065.80 -7937.00 -14248.60 -2820.30 1330.90 -3009.50 -2690.50 269.00 7384.20 20606.90 3224.90 11625.30 4028.70 19939.50 8304.10 5317.80 10367.20 5902.40MF Activity 3186.90 1412.50 -368.90 2292.10 1429.50 -975.40 340.70 -864.20 -1521.10 1477.20 38.90 2291.00 839.20 1825.60 570.60 -2333.70 -5194.40 -695.30 -1761.50 -1311.10DII Activity 8627.97 1527.19 2972.38 9212.96 10796.3 2874.15 1906.28 3718.14 2774.56 3951.53 -782.33 -82.45 2633.78 5818.98 4984.71 696.04 -47.51 2391.04 49.67 12222.03

Date Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11implied growth rate 0.1068 0.0922 0.0790 0.1066 0.0930 0.0963 0.0975 0.1009 0.1022 0.1035 0.1029 0.1029 0.1030 0.0985 0.0977 0.0969 0.0956 0.0971 0.0955 0.0899mean Implied Growth Rate 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865Rate of Inflation 16.22% 14.86% 14.86% 13.33% 13.91% 13.73% 11.25% 9.88% 9.82% 9.70% 8.33% 0.00% 0.00%GDP Growth 6.50% 6.50% 8.60% 8.60% 8.60% 8.90% 8.90% 8.90% 8.90% 8.90% 8.90% 0.00% 0.00%Benchmark Intrest Rate 3.25% 3.25% 3.38% 3.63% 3.75% 3.75% 4.08% 4.50% 5.00% 5.00% 5.25% 5.25% 5.50%

FII Activity 5902.40 2113.50 18833.60 9764.50 -8629.90 10244.60 17120.60 11185.30 29195.80 24770.80 18519.90 1476.10 -5429.70MF Activity -1311.10 -697.40 -3806.40 -1616.50 98.70 -1092.50 -4404.80 -3169.60 -7236.00 -5802.10 -99.90 1376.60 199.20DII Activity 12222.03 1311.95 -5135.85 2190.66 6361.19 -4777.05 -6271.92 -4552.68 -11866.63 -11812.9 2468.82 634.99 5237.14

Std. Dev 0.0187Mean 0.0865

14105Mean + 1std dev 0.1051Mean - 1 Std dev 0.0678

Correlation

FII Activity MF Activity DII Activity

implied growth rate 1 0.107603104 0.092261693 -0.229776159 0.4399032228 -0.33962303 -0.262849473Rate of Inflation 1 0.689012147 -0.542216427 0.2139765986 -0.3024064208 -0.0176560255GDP Growth 1 -0.090794059 0.3348126034 -0.4384358124 -0.2942671629Benchmark Intrest Rate 1 -0.4115504221 0.2047423838 0.1288705428FII Activity 1 -0.6482515574 -0.7659452372MF Activity 1 0.7473315287DII Activity 1

Calculation of Ideal Sensex value

Here ideal sensex value is calculated using average 'implied growth rate' and trailing twlelve months EPS

taking average implied growth rate for the period (June 2008 to Present), SENSEX value comes out to be

implied growth rate

Rate of Inflation

GDP Growth

Benchmark Intrest Rate

Above sheet shows that implied growth rate is not correlated with anything any of the macroeconomic factors, hence their impact can be ignored

Jun-08

Aug-08

Oct-08

Dec-08

Feb-09

Apr-09

Jun-09

Aug-09

Oct-09

Dec-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Aug-11

0.0000

0.0200

0.0400

0.0600

0.0800

0.1000

0.1200

implied growth ratemean Implied Growth Rate

Page 58: Sensex valuation aug 11 update

Here ideal sensex value is calculated using average 'implied growth rate' and trailing twlelve months EPS Jun-08

Aug-08

Oct-08

Dec-08

Feb-09

Apr-09

Jun-09

Aug-09

Oct-09

Dec-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Aug-11

0.0000

0.0200

0.0400

0.0600

0.0800

0.1000

0.1200

implied growth ratemean Implied Growth Rate

Page 59: Sensex valuation aug 11 update

Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-110.0922 0.0790 0.1066 0.0930 0.0963 0.0975 0.1009 0.1022 0.1035 0.1029 0.1029 0.1030 0.0985 0.0977 0.0969 0.0956 0.0971 0.0955 0.08990.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.0865 0.086514.86% 14.86% 13.33% 13.91% 13.73% 11.25% 9.88% 9.82% 9.70% 8.33% 0.00% 0.00%

6.50% 8.60% 8.60% 8.60% 8.90% 8.90% 8.90% 8.90% 8.90% 8.90% 0.00% 0.00%

3.25% 3.38% 3.63% 3.75% 3.75% 4.08% 4.50% 5.00% 5.00% 5.25% 5.25% 5.50%

2113.50 18833.60 9764.50 -8629.90 10244.60 17120.60 11185.30 29195.80 24770.80 18519.90 1476.10 -5429.70-697.40 -3806.40 -1616.50 98.70 -1092.50 -4404.80 -3169.60 -7236.00 -5802.10 -99.90 1376.60 199.201311.95 -5135.85 2190.66 6361.19 -4777.05 -6271.92 -4552.68 -11866.63 -11812.9 2468.82 634.99 5237.14

Page 60: Sensex valuation aug 11 update

Date Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08implied growth rate 8.31% 7.75% 8.30% 7.83% 5.76% 4.82%Buy Condition 0 0 0 0 1 1Sell Condition 0 0 0 0 0 0Buy Call 0 0 0 1 0Sell Call 0 0 0 0 0Sensex value 14874.78 13930.31 15197.1 14378.13 10774.81 9760.769

for +/- 1 std . Dev.buying point (Mean - 1 std. Dev.) 0.067785Selling Point (Mean + 1 Std.Dev.) 0.105124

profit/Loss on buying 1 sensex Inestment ROIOn timing the market 6204.38 9760.77 63.56%On long term investment 5147.02 14874.78 34.60%

Page 61: Sensex valuation aug 11 update

Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-095.00% 4.96% 4.85% 4.51% 6.25% 7.66% 8.46% 8.54% 8.83% 9.04%

1 1 1 1 1 0 0 0 0 00 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 0

9973.626 9676.366 9582.982 9489.503 11374.81 13519.47 15185.98 15031.92 15965.15 16824.25

Page 62: Sensex valuation aug 11 update

Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-109.16% 10.67% 10.67% 10.68% 9.22% 7.90% 10.66% 9.30% 9.63% 9.75%

0 0 0 0 0 0 0 0 0 00 1 1 1 0 0 1 0 0 00 0 0 0 0 0 0 0 0 00 1 0 0 0 0 1 0 0 0

17149.51 16878.96 17369.3 17652.36 16456.68 17291.42 17574.56 16871.6 17632.06 18192.86

Page 63: Sensex valuation aug 11 update

Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-1110.09% 10.22% 10.35% 10.29% 10.29% 10.30% 9.85% 9.77% 9.69% 9.56%

0 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 0

18463.63 19566.04 20383.09 20014.45 19965.95 20021.8 18000 18000 18800 18000

Page 64: Sensex valuation aug 11 update

Jun-11 Jul-11 NOW9.71% 9.55% 8.99%

0 0 00 0 00 0 00 0 0

17800 18000 16800

Page 65: Sensex valuation aug 11 update

SUMMARY OUTPUT

Regression StatisticsMultiple R 0.5554433182R Square 0.3085172798Adjusted R Square 0.1425614269Standard Error 0.0181042103Observations 32

ANOVAdf SS MS F

Regression 6 0.00365592554 0.000609320923327 1.8590322335Residual 25 0.008194060764 0.000327762430561Total 31 0.011849986304

Coefficients Standard Error t Stat P-valueIntercept 0.1003695369 0.028089525969 3.57320152127098 0.0014687688Rate of Inflation -0.0513858923 0.198735438846 -0.258564313511789 0.7980883473GDP Growth -0.0896611064 0.277695295632 -0.322875856417041 0.7494742597

-0.0700641077 0.487680138439 -0.143668159117907 0.8869143152FII Activity 9.5845622E-07 5.60566889E-07 1.7097981344309 0.0996886694MF Activity -2.417526E-06 2.22256239E-06 -1.08772038276258 0.2870943604DII Activity 7.7238834E-07 1.19658904E-06 0.64549173748351 0.5244892545

RESIDUAL OUTPUT

Observation Predicted Y Residuals Standard Residuals1 0.0740420152 0.015614593309 0.9604216337559732 0.0816856867 0.003535205405 0.2174432393469313 0.085744795 0.004269819559 0.2626278504420234 0.0783882094 0.006669352934 0.4102182307148755 0.0752977047 -0.00878701837 -0.5404714920154356 0.0859461629 -0.02829755686 -1.740524729029677 0.0879865985 -0.02680933982 -1.648987548844238 0.0884540992 -0.02779901541 -1.709860466060629 0.0903907945 -0.03052605365 -1.87759499992716

10 0.088154272 -0.03021392583 -1.8583966568038811 0.0947095814 -0.02116341163 -1.3017180771017212 0.1026060818 -0.01625958598 -1.0000938110907513 0.0910354759 0.00266189 0.16372739859895614 0.0978264216 -0.00306000099 -0.18821438986728215 0.0930223844 0.005345461707 0.32878839457522516 0.1096908128 -0.00849850126 -0.52272539546122717 0.1049573786 -0.00259562194 -0.15965138627755618 0.0920639602 0.016064012608 0.988064493783772

Benchmark Intrest Rate

Page 66: Sensex valuation aug 11 update

19 0.0988053581 0.008037360777 0.4943615895550320 0.1021966541 0.005978102868 0.36770085584423621 0.0893535529 0.015271340294 0.93930884428148822 0.1059409543 -0.00032212328 -0.01981314295434523 0.0982244327 0.008236940463 0.50663732698695824 0.0792868179 0.024858522203 1.5289967553814725 0.0914774219 0.01707668023 1.0503516038044126 0.105963878 0.004166673099 0.25628352307949627 0.0990266626 0.014568113477 0.89605480395732728 0.120150869 -0.00496235526 -0.30522430204014329 0.1125463726 0.004423088529 0.27205511070401630 0.1043298 0.011066574906 0.68068234251354331 0.0952684405 0.020469939405 1.2590640215345432 0.0948754159 0.020980838513 1.29048837861374

Page 67: Sensex valuation aug 11 update

Significance F0.12806667702

Lower 95% Upper 95% Lower 95.0% Upper 95.0%0.04251807526 0.1582209986 0.0425180753 0.1582209986-0.4606891904 0.3579174058 -0.4606891904 0.3579174058-0.6615852737 0.4822630609 -0.6615852737 0.4822630609

-1.0744601543 0.9343319388 -1.0744601543 0.9343319388-1.960529E-07 2.112965E-06 -1.960529E-07 2.112965E-06

-6.9949793E-06 2.159927E-06 -6.994979E-06 2.159927E-06-1.6920329E-06 3.23681E-06 -1.692033E-06 3.23681E-06

Page 68: Sensex valuation aug 11 update

Date

Date implied growth ratRate of Inflation GDP Growth

6/1/2008 Jun-08 8.97% 7.69% 7.80% 6.00%

7/1/2008 Jul-08 8.52% 8.33% 7.80% 6.00%

8/1/2008 Aug-08 9.00% 9.02% 7.80% 6.00%

9/1/2008 Sep-08 8.51% 9.77% 7.50% 6.00%

10/1/2008 Oct-08 6.65% 10.45% 7.50% 6.00%

11/1/2008 Nov-08 5.76% 10.45% 7.50% 6.00%

12/1/2008 Dec-08 6.12% 9.70% 6.10% 5.50%

1/1/2009 Jan-09 6.07% 10.45% 6.10% 4.50%

2/1/2009 Feb-09 5.99% 9.63% 6.10% 4.00%

3/1/2009 Mar-09 5.79% 8.03% 5.80% 3.75%

4/1/2009 Apr-09 7.35% 8.70% 5.80% 3.38%

5/1/2009 May-09 8.63% 8.63% 5.80% 3.25%

6/1/2009 Jun-09 9.37% 9.29% 6.00% 3.25%

7/1/2009 Jul-09 9.48% 11.89% 6.00% 3.25%

8/1/2009 Aug-09 9.84% 11.72% 6.00% 3.25%

9/1/2009 Sep-09 10.12% 11.64% 8.60% 3.25%

10/1/2009 Oct-09 10.24% 11.49% 8.60% 3.25%

11/1/2009 Nov-09 10.81% 13.51% 8.60% 3.25%

12/1/2009 Dec-09 10.68% 14.97% 6.50% 3.25%

1/1/2010 Jan-10 10.82% 16.22% 6.50% 3.25%

2/1/2010 Feb-10 10.46% 14.86% 6.50% 3.25%

3/1/2010 Mar-10 10.56% 14.86% 8.60% 3.38%

4/1/2010 Apr-10 10.65% 13.33% 8.60% 3.63%

5/1/2010 May-10 10.41% 13.91% 8.60% 3.75%

6/1/2010 Jun-10 10.86% 13.73% 8.90% 3.75%

7/1/2010 Jul-10 11.01% 11.25% 8.90% 4.08%

8/1/2010 Aug-10 11.36% 9.88% 8.90% 4.50%

9/1/2010 Sep-10 11.52% 9.82% 8.90% 5.00%

10/1/2010 Oct-10 11.70% 9.70% 8.90% 5.00%

11/1/2010 Nov-10 11.54% 8.33% 8.90% 5.25%

12/1/2010 Dec-10 11.57% 0.00% 0.00% 5.25%

1/1/2011 Jan-11 11.59% 0.00% 0.00% 5.50%

Benchmark Intrest Rate

Page 69: Sensex valuation aug 11 update

FII Activity MF Activity DII Activity

-10577.70 3186.90 8627.97-1012.90 1412.50 1527.19-2065.80 -368.90 2972.38-7937.00 2292.10 9212.96

-14248.60 1429.50 10796.3-2820.30 -975.40 2874.151330.90 340.70 1906.28

-3009.50 -864.20 3718.14-2690.50 -1521.10 2774.56

269.00 1477.20 3951.537384.20 38.90 -782.33

20606.90 2291.00 -82.453224.90 839.20 2633.78

11625.30 1825.60 5818.984028.70 570.60 4984.71

19939.50 -2333.70 696.048304.10 -5194.40 -47.515317.80 -695.30 2391.04

10367.20 -1761.50 49.675902.40 -1311.10 12222.032113.50 -697.40 1311.95

18833.60 -3806.40 -5135.859764.50 -1616.50 2190.66

-8629.90 98.70 6361.1910244.60 -1092.50 -4777.0517120.60 -4404.80 -6271.9211185.30 -3169.60 -4552.6829195.80 -7236.00 -11866.6324770.80 -5802.10 -11812.918519.90 -99.90 2468.82

1476.10 1376.60 634.99-5429.70 199.20 5237.14

Page 70: Sensex valuation aug 11 update

Date Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08implied growth rate 8.31% 7.75% 8.30% 7.83% 5.76% 4.82% 5.00%

Page 71: Sensex valuation aug 11 update

Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-094.96% 4.85% 4.51% 6.25% 7.66% 8.46% 8.54% 8.83% 9.04% 9.16%

Page 72: Sensex valuation aug 11 update

Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-1010.67% 10.67% 10.68% 9.22% 7.90% 10.66% 9.30% 9.63% 9.75% 10.09%

Page 73: Sensex valuation aug 11 update

Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-1110.22% 10.35% 10.29% 10.29% 10.30% 9.85% 9.77% 9.69% 9.56% 9.71%

Page 74: Sensex valuation aug 11 update

Jul-11 NOW9.55% 8.99%

Page 75: Sensex valuation aug 11 update

implied growth rate 8.31% 7.75% 8.30% 7.83% 5.76% 4.82% 5.00%

Page 76: Sensex valuation aug 11 update

4.96% 4.85% 4.51% 6.25% 7.66% 8.46% 8.54% 8.83% 9.04% 9.16%

Page 77: Sensex valuation aug 11 update

10.67% 10.67% 10.68% 9.22% 7.90% 10.66% 9.30% 9.63% 9.75% 10.09%

Page 78: Sensex valuation aug 11 update

10.22% 10.35% 10.29% 10.29% 10.30% 9.85% 9.77% 9.69% 9.56% 9.71%

Page 79: Sensex valuation aug 11 update

9.55% 8.99%