Hardik Bhadeshiya Livres

The book explores the evolution of the Indian mutual fund industry, starting from the establishment of the Unit Trust of India in 1964, which initially struggled to expand the market. The emergence of nationalized bank-sponsored mutual funds in the late 1980s marked a turning point, followed by the entry of private sector mutual funds in the early 1990s, offering diverse products and improved services. It focuses on five key players—Reliance, HDFC, ICICI, Birla Sun Life, and UTI—selected based on their assets under management.

The study investigates weak form efficiency in the Indian stock market, exploring the unpredictable nature of stock movements and their responses to information. It employs objective-oriented research tools, using descriptive statistics to analyze price change randomness and inferential tests to examine the independence and volatility of key indices like SENSEX and NIFTY. Key analytical methods include serial correlation tests, runs tests, variance ratio tests, unit root tests, and ARCH/GARCH models, providing a comprehensive understanding of market behavior.

The study explores the relationship between Economic Value Added (EVA) and Earnings per Share (EPS) across various banks, demonstrating that all banks generated positive EVA, indicating shareholder wealth creation. It establishes a significant correlation between EVA and EPS, as both metrics are influenced by profitability and capital employed. The analysis, supported by t-tests, reveals that all banks except IndusInd Bank exhibit a significant relationship between these two performance measures, rejecting the null hypothesis for the majority.

This book explores investment avenues for investors, utilizing statistical and accounting techniques to analyze investor behavior. It emphasizes the importance of understanding real interest rates amidst inflation and advocates for optimizing risk and reward to ensure higher returns without losing principal.

Die Entwicklung der indischen Investmentfondsbranche wird detailliert untersucht, beginnend mit der Gründung des Unit Trust of India im Jahr 1964. Trotz anfänglicher Ineffizienzen trugen staatliche Banken in den späten 1980er Jahren zur Expansion bei. In den 1990er Jahren traten private Fondsanbieter mit vielfältigen Produkten und besseren Dienstleistungen auf, um den unterschiedlichen Bedürfnissen der Anleger gerecht zu werden. Die Studie fokussiert sich auf fünf führende Investmentfondsanbieter, die aufgrund ihres verwalteten Vermögens ausgewählt wurden: Reliance, HDFC, ICICI, Birla Sun Life und UTI.

Das Buch untersucht die verschiedenen Investitionsmöglichkeiten für Anleger und nutzt statistische sowie buchhalterische Techniken, um deren Verhalten zu analysieren. Angesichts steigender Inflation wird betont, dass Renditen optimiert werden müssen, um das Risiko des Kapitalverlusts zu minimieren.