A Question Of Vaccination Effectiveness - Free Essay Example

Sample details Pages: 3 Words: 752 Downloads: 2 Date added: 2019/08/07 Category Medicine Essay Level High school Tags: Vaccines Essay Did you like this example? Analysis Immunization Effectiveness To begin, vaccination effectiveness for both children and adolescents directly influence their health and promote healthy living in societies today. Klein informs adolescent health specialists about the sudden declining utilization of meningitis immunizations among adolescents in her abstract due to lenient vaccination requirements enforced by schools. Immunizations are not a priority. Don’t waste time! Our writers will create an original "A Question Of Vaccination Effectiveness" essay for you Create order Instructing the urgency in giving more meningococcal meningitis vaccines, Klein discloses, Adolescent immunization rates for some vaccines recommended by the Advisory Committee on Immunization Practices are disappointingly low.   The CDC recommends four inoculations for the average adolescent, yet numerous parents withdraw their adolescents from receiving some immunizations.   An adolescent who is not given important vaccines risks accumulating diseases like meningitis. Disease transmission imposes life threatening side effects. Hence, the United States demonstrates an importance in vaccinating their children only to prevent illness transmission across the country. The United States disease prevention   induces better health standards for Americans nationwide. Spain vaccination rates are high overall, indicating strong effectiveness in their uses. Spain includes strict vaccination schedules much like the United States does, although Spanish families do not make receiving vaccinations a similar priority. Additionally, Kollmann informs immunologists about the trends in responses to vaccinations among younger children in his abstract due to the mechanisms that correlate vaccination outcomes. Infants are more susceptible to illness. Guiding the need for disease prevention , Kollmann enlightens,We propose that systems vaccinology should be applied to age-specific studies focused on protection, to derive the necessary insight for optimal design of vaccines for the very young. Designing effective vaccines for individuals based on their age helps ensure a positive response in patients. Positive responses after taking certain shots encourage other people to unite in the action. Civilians that receive immunizations create smaller chances for transmitting disease. Consequently, The United States designs vaccines effectively to increase disease prevention rates. The United States increases disease prevention rates due to the effectiveness in creating age-specific immunizations. Spains age- specific vaccinations have been more effective this year in comparison to the United States. Spains immunization effectiveness creates substantial reductions in illnesses. Side Effects Furthermore, side effects provide significant reasons for citizens from varied cultures to abstain from receiving inoculations. In the journal abstract, Anderberg informs economists about controversial vaccine usage due to differences between education and income.   More educated parents avoid immunizations.   Enlightening disputed vaccination use, Anderberg conveys, Using a supplementary data source we find evidence of a corresponding positive income effect, indicating that wealthier parents avoided the MMR dilemma by purchasing single vaccines. Affluent and intellectual individuals avert from receiving the measles, mumps, and rubella (MMR) vaccine because they understand its potential risks. Knowing immunization dangers leads consumers to withdraw from using them. Educated consumers who choose to abstain from immunizations eliminate risks like acquiring unwanted side effects. For example, more educated parents in The United States acknowledge potential risks that are included in receiving vaccines just by investigating their ingredients. Some immunizations in the United States are made with questionable components such as aluminum, gelatin, and thimerosal; that have been proven to cause side effects in some patients. Spains vaccines are genetically modified with some untrustworthy ingredients as well, such as gelatin and aluminum. Spains toxic ingredient use in immunizations leads to harmful side effects for their own patients. More importantly, Brewer informs in his abstract to psychologists that the urge to receive immunizations are increasingly low because consumers thoughts and feelings are the motivation behind getting vaccinated. Psychological concepts aid action. Instructing the ways social processes affect motivation to become vaccinated, Brewer claims, Substantial research has shown that social norms are associated with vaccination, but few interventions examined whether normative messages increase vaccination uptake.   Social influence is a considerable reason for civilians to avoid getting vaccinated due to that it minimizes motivation. Numerous individuals avert going to the doctors office because they hesitate to put viruses in their own bodies. Directly injecting an illness into someones body causes them to worry about acquiring deadly side effects. Likewise, The United States implements social norms that receiving vaccinations is healthy, yet side effects like pneumonia, HPV, or influenza provides reasons to be uncertain about their usage. The United States does not recognize the harsh side effects included in vaccinations, but instead, promotes them. Spains vaccination requirements are less strict when it comes to taking them on a regular basis, especially because Spanish citizens are against genetically modified substance use. Because Spains immunizations contain potentially harmful ingredients, most patients avoid them to decrease the likelihood for accumulating side effects.

Image Of Nursing A Look At An Historical Image - 987 Words

The field of nursing encompasses a vast array of knowledge, skills, and professionalism. However, often times the image of nursing does not mirror these things. What is image? Many individuals may answer this question differently depending on their age, personal experiences, and exposure to media. The image of nursing is the overall idea, perception, or belief of what nursing is. Image is an important factor in nursing, as a false image may discredit the true heart of nursing, leading to misconceptions that may directly affect how patient care is implemented, as well as recruitment into the profession. This paper will discuss the image of nursing with a look at an historical image compared to contemporary image of nursing, how the public’s image affects nursing recruitment, and a look at both personal and professional strategies that can be used to improve the image of nursing. The image of nursing has continued to evolve throughout history. One era in particular that h as had an impact on the public’s idea of nursing is the Victorian era of the mid 1800’s. Prior to this time, nursing was known to be a religious-type of charity practice; however, in the mid 1800’s, some novels and poems that depicted nursing in different ways influenced the public’s image of nursing. In Charles Dickens’ s novel Martin Chuzzlewit, one specific character, Sairy Gamp, is a nurse who had a greater interest the bottle and profiting from the ill, than for the care of her patientsShow MoreRelatedThe History Of Nursing Practice1613 Words   |  7 PagesThe history of nursing is fundamentally the foundation of nursing today. Historical nursing leaders have paved the way for our nurses in the 21st century by their views, dedication, and achievements. Not only have these leaders paved the way for nursing as a profession, but they have also instilled historical changes in health care and in our society overall. The current definition of nu rsing today is â€Å"the protection, promotion, and optimization of health and abilities, prevention of illness andRead MoreNursing Professional Identity Essay1693 Words   |  7 Pagesthe impact of historical development of nursing on contemporary representations of the nursing profession. It examines the professional identity of nursing and further discusses the contribution of modern nursing, social, cultural and political factors that influences the professional identity of a nurse. The essay also looks into the professional regulations and the role of the nurse’s and midwifery Council (NMC) in the protection of the public. Finally, this essay will discuss nursing education, theRead MoreNursing Professional Identity Essay1599 Words   |  7 Pagesfocus on how historical developments of nursing impact on contemporary representations of the nursing profession. It will examine professional identity of the profession and further discusses the value of modern nursing, socia l, cultural and political factors that influence the professional identity of the nurse. I will also discuss the professional regulation and the role of the nurse’s midwifery Council (NMC) in the protection of the public. Finally, this essay will discuss nursing education, theRead MoreSocietal Standards of Feminine Beauty Essay783 Words   |  4 PagesWhile women have made historical strides in the past decades, the culture at large is bound to the narcissistic constraints about how women should look. These unattainable beauty standards, largely proliferated through the media, have drastic impacts on women and their body image. Societal standards of feminine beauty are presented in all forms of popular and alternative media, bombarding women with images that portray the ideal body. Such standards of beauty are almost completely far-fetched forRead MoreAnalysis Of Tiara And Eva Marie By Catherine Opie1917 Words   |  8 Pagescreated in 1906 by artist Mary Cassatt is titl ed â€Å"Young Mother Nursing Her Child†. The second is a photograph, titled â€Å"Self-Portrait/Nursing†, by Catherine Opie, taken in 2004. The third, titled â€Å"Tiara and Eva Marie†, was created in 2011 by Canadian artist Kate Hansen. Each of these artistic renderings celebrate the tender and intimate bond shared between a mother and child, through images of partially-dressed and fully nude mothers nursing, or holding their infant children in various maternal posesRead MoreDifferences Between Christianity And Buddhism1184 Words   |  5 PagesChristians believe we were made in God’s image and we are one with Him. Buddhists believe that through karma, humans can be reincarnated into higher or lower levels of life. When thinking of why it is possible to know anything at all, Christians believe humans know the world around them as well as God himself because of God’s grace given to them. In Buddhism, the only way to know the true meaning of reality a person has to withdraw from the world. They have to look from within to get in touch withRead MoreThe Changing Image of Australian Nursing Essay3967 Words   |  16 PagesThe Changing Image of Australian Nursing Jacqueline Bloomfield RN, CM, Dip App.Sci (Nur), BN, Grad Cert Onc Nur, Grad Dip Midwifery, MN, MCN (NSW). ABSTRACT The way in which the public perceives nursing significantly influences nurseï ¿ ½s role performance, job satisfaction and occupational expectations. The public image of Australian nursing has been subject to a plethora of influencing factors since health-care services were first established in this country over two centuries ago, Since itsRead More Ehrenreich’s Nickel and Dimed: On (Not) Getting By in America1015 Words   |  5 Pagesto determine whether those individuals formerly on welfare and largely unskilled, could earn a living wage on the minimum wage. In the book, Ehrenreich documented her experiences working a series of minimum wage jobs as a waitress, a maid and a nursing home dietary assistant. Ehrenreich found that in order to make ends meet and afford a place to live and food to eat, she needed to work two jobs, which left her in a constant state of exhaustion and pain. She also observed of her fellow serversRead MoreHistory Of Historical Development Of Nursing2266 Words   |  10 Pages Overview of Historical Development of Nursing from Ancient Times to the Present Betania Negre Nursing Theoretical Concepts Christene Johnson International Institute for Health Care Professionals April 25, 2015 Abstract Treating the sick people is not a recent practice; communities have cared for the ill through history, beginning in ancient times. Nursing has been around for centuries, but it was not always considered a profession (History of Nursing in the United States, 2015). TheRead MoreHistorical Characters Of The Astell, Galileo, And Florence Nightingale1753 Words   |  8 Pagesraining, dull summer day, not typical for South Jersey climate. I was rocking in my rocking chair on the porch while reading my Western Civilization history book. I was on the 15 chapter, reading about outstanding historical characters of the 17 century. I don’t know if it was relaxing historical book, or atmosphere, created by the weather, but I felt how I was drowning in sleep. Suddenly, I heard the loud noise coming from our garage where my crazy brother was recently working on some mysterious machine

Parallel LellaraP Free Essays

Then Nodal thought to himself, â€Å"What if there was a parallel world Now we enter the life of London, who is doing anything except for read Eng a book. â€Å"l really hate doing homework,† London said. â€Å"To bad it’s the beginning of the year. We will write a custom essay sample on Parallel LellaraP or any similar topic only for you Order Now † his friend Christian said. Just like Nodal, London wanted the new parallel universe e machine, but they both don’t have the money. Even though they were very opposite, the e machine was the only thing Nodal and London wanted. So for Christmas London got the machine, and for Nodal graduation ca me around and they tooth got the machine. But the thing is, it din ‘t come with batteries. Know a powerful device that let’s you travel from universe to Universe needs batteries. The battery is not going to stop them the machine has a lot of money an d they didn’t have the money for batteries. So every day London and Nodal asked their parents for money. They asked their friends for money, they asked their enemies for money, and they even asked complete strangers for money. Until one day London and Nodal did the last thing they could, they took the batteries out of the remote. So when London and Nod mol got the batteries out of the remote and into the machine, they were ready. They powered it up and selected maneuvered for the destination on dial and there was a flash! The next thing they knew London and Nodal were in each other s universes. To them everything looked the same but little did they know everything was a bout to change. â€Å"Where am l? ‘ London said â€Å"everything looks the same except there is no TV in this room. Is it my room in this world? † London was so shocked he didn’t know what to d o. But there is no time for Loon’s stories. Now we travel to where Nodal went. â€Å"Where am I? ‘ Nodal said â€Å"Oh no I traveled to a world without any books! Oh hers one, City of Ember, what is this? ‘ As London on and Nodal were just getting used to the worlds they’ve traveled to, they read the box the machine came in which said â€Å"Thank you for buying the world traveler 237 please be noted that this machine only goes one way then disappears until you buy another one. Once again thanks oh and have a good day. † â€Å"Alright I had enough fun time to go back. Oh no, where did the machine go? † London said frightened. Someone should have told him to read the box. â€Å"It’s time to go baa KC to my world, I can’t stay in a world no books. Where’s the machine, I musty misplaced it I’ll find it Oh no I can’t find it I’m stuck here forever!!!! † Nodal said. It took London and Nodal a very long time to get used to the new world they were in. But finally they had to except the fact that they were never going back to t heir old worlds. And in the end, they forgot all about going to different universes and just live d their life. That’s why you should always read the box. How to cite Parallel LellaraP, Papers

Fundamental and technical analysis of banking stocks free essay sample

Fundamental Technical Analysis of Banking stocks† is the systematic study of the performance of banking companies stock’s in stock market and future value of the share price with help of fundamental analysis and technical analysis. While decision in share price based on actual movement of shares price measured more in money percentage term nothing else. In the Analysis, calculations are based on FACTS not on HOPE. The subject of Analysis is to determine future share price movement with the help of RATIO ANALYSIS, STUDY OF GRAPH. This analysis does not discuss how to buy sell shares, but does discuss the methods, which enables the investor to arriving at buying selling decision. The Technical Approach to investment is essentially a reflection of the idea that prices moves in a trend that are determined by the changing attitude of investor’s toward a variety of economic, monetary, political and psychological forces. Theart of technical analysis, for it is an art, is to identify a trend reversal at a relatively early stage and ride on that trend until the weight of the evidence shows or proves the trend has reversed. And the Technical analysis states that the support and resistance is enough for price prediction untill the new high or low occurs. OBJECTIVE It was good opportunity to familiarize myself with the stock market i. e. the capital market their co-relation with economical environment through â€Å"Fundamental and Technical analysis of BANK NIFTY Stocks. † The analysis of banking stock gives me the opportunity to understand thoroughly this behavioural pattern’s of different stocks in industry overall capital market. The main objective of the project research is as follows. 1. To Study the Analysis and obtain the knowledge of stock market and banking industry. 2. To Study the present behaviour predicting the future behaviour of bank stocks in Capital market. 3. To perform Technical analysis based on charts using support and resistance. 4. To compare other banking stock with Bank Nifty Index. To analyze the performance of company’s through Balance Sheet Technical graph for particular shares. SCOPE The fundamental technical analysis of banking stocks ? Study on the economical, industrial and company analysis for the project. ? Selecting the sample from the available banking stock. ? Evaluating each bank and its stock in the market. ? Analysing each bank fundamentally and interpretation. ? Technical analysis for its share traded in NSE and BSE. ? Comparison of stock with Bank nifty. ? Interpretation and concluding. RESEARCH METHODLOGY During my project, I collected data through various sources primary secondary. Primary source includes:- 1) Discussion with branch manager 2) Discussion with experts 3) Questionnaires for investors 4) Live trading in the market Secondary source includes:- 1) Various books related to stock market 2) Books and journals related to Banks. 3) Web sites were used as the vital information source. Reliance Money felt need of evaluating the price patterns of leading scripts mainly from the five main blue chip companies and also interested in determining the trends along with price performance in near future. This equity analysis will facilitate to investor for profitable investment. Sampling technique The sample is taken from the population of 89 schedule bank where the information available in hand and most of the stocks are selected from the bank nifty, the sample size is 5 such as 1. State Bank Of India 2. Hdfc Bank 3. Panjab National Bank 4. Yes Bank Sample selection methods Sample is taken based on public and private sector bank mix. Large cap mid cap and mix. This sample will give the clear picture of the bank nifty. HDFC SECURITIES LTD. Company’s Mission â€Å"To create reputation synonymous with quality, competitiveness, fairness and transparency dealings and be a responsible corporate citizen†. We are one of the leading stock broking companies in India and a subsidiary of HDFC Bank- a renowned private sector bank. As a stock broking company, we have completed 10 years of operation serving a diverse customer base of retail and institutional investors. There are millions of reasons why you can choose our services and here are a few of them: Your Interest is Our Priority Your financial needs and interests are our priority. We simplify investing for you and provide 360-degree view on financial planning that suit your future goals and needs. One Stop Shop for Your Investments We offer a suite of products and services across various asset classes such as equity, gold, debt and real estate. Be it stocks, derivatives, mutual fund, fixed deposits, NCDs, insurance, bonds, currency derivatives or PMS, we have a product that suits each of your investment needs. Multiple Platforms Seamless Trading You can trade with us via online, mobile, telephone or any of our branches. These multiple platforms make your trading experience highly convenient and hassle-free. You can even place an order for IPO / NCD applications though your trading account online or through our 24 Hour Customer Care Number. Similarly, there is no need to issue cheques or delivery instructions. Through our 4-in-1 Advantage account, you can seamlessly move funds and securities within savings, demat and trading account. Our web portal is based on Web 2. 0 technology and our state-of-the art technology enables seamless trading experience on both the exchanges BSE and NSE. Our mobile trading application is compatible to all smart phones such as smart phones such as Blackberry, Android, Windows, Java and iPhone. Once you activate mobile trading on your smart phone, you can place order in Equities Derivatives and get Stock Quotes on the move. You can even create Multiple Personalized Market watch and track the stocks and other asset classes such as gold, bonds etc the way you want. Timely and Relevant Information We offer the right news and views that impacts your money. Our views are backed by extensive research. We believe in empowering you with accurate and unbiased research so that you make an informed investment decision. Tracking your Portfolio Just investing money is not enough, you have to monitor your portfolio to ensure you money works as hard as you to build a robust financial portfolio. You can use our portfolio tracker to monitor your entire financial portfolio, which encompasses various asset classes. You can also make a watchlist of stocks and enrol for SMS alerts, which will help you track the markets closer to make a timely investment decision. Transparency We empower you to take the right decisions and handle your own portfolio. Backed by our trusted pedigree, it is our constant endeavour to provide services in a transparent manner. We believe in offering high quality investment services in a cost effective manner to achieve your financial goals. Our Background We are a subsidiary of HDFC Bank – a renowned private sector bank of India. With a decade of experience in trading and a rating of A1+1, we have a proven pedigree in the financial services industry. Our Reach We cater to your investment needs through our 190 plus branches. If you are pressed for time, you can even get your investment and service relate queries answered through our 24-Hour Customer Care. Our call centre facility also offers services in 7 regional languages. Business Objectives The primary objective of HDFC is to enhance residential housing stock in the country through the provision of housing finance in a systematic and professional manner, and to promote home ownership. Another objective is to increase the flow of resources to the housing sector by integrating the housing finance sector with the overall domestic financial markets. Organizational Goals HDFC’s main goals are to a) develop close relationships with individuals, b) maintain its position as the premier housing finance institution in the country, c) transform ideas into viable and creative solutions, d) provide consistently high returns to shareholders, and e) to grow through diversification by leveraging off the existing client base. Their housing needs. HDFC was promoted with an initial share capital of Rs. 100 million. HDFC Securities, A trusted financial service provider promoted by HDFC Bank and JP Morgan Partners and their associates, is a leading stock broking company in the country, serving a diverse customer base of institutional and retail investors. HDFCsec. com provides investors a robust platform to trade in Equities in NSE and BSE, and derivatives in NSE. Our website will support you with the highest standards of service,convenienceand hassle-free trading tools. Our research team tracks the economy, industries and companies to provide you the latest information and analysis. Our content offers financial information, analysis, investment guidance, news views, and is designed to meet the requirements of everyone from a beginner to a savvy and well-informed trader. HDFC GROUP HDFC Ltd HDFC Bank HDFC Financial Service HDFC Life HDFC ERGO HDFC AMC SHARE HOLDINGS FOR HDFC SECURITIES KEY PEOPLE IN THE ORGANIZATION INTRODUCTION TO CAPITAL MARKETS Financial System The financial system of every economy consists of various constituents such as 1Financial Institutions 2Financial Companies 3Financial Markets 4Financial Instruments 5Financial Services 6Financial regulations The financial market in India comprised of capital market and money market whereas the financial system of the country comprised of institutions, which operate the financial markets and the financial instruments with which the financial system is put into operation. Tax anomy of financial markets can be understood on functional, sectoral and institutional basis. On a functional basis we can divide financial markets into 1Money market (short term) 2Capital market (long term) The institutional classification can be made into 1 Organized financial market 2 Non-Organized financial market Capital Market Scenario The stock market in India dates back to the 18th century when the East India Company was ruling the roost in the country and was perhaps the most dominant and powerful institution and its securities were traded. The securities trading were done in an unorganized form at Bombay and Calcutta in early 19th century. The decade of 90’s has witnessed several changes in reformation of capital market. Automation, transparency,. Strict surveillance, depository system, on line trading, investor’s protection, new rules and regulations, etc. are some of the activities which only reflect the growth of Indian capital market. By any reckoning Indian corporate sector has grown very significantly in the last couple of decades whether to look at it in terms of public and private limited companies, their share capitalization, their sales turnover or their contribution to capital formation with this came the legislation of SEBI to act as a regulatory body to protect investors What is Capital Market? A Capital Market deals in financial assets, excluding coins and currency. The financial assets comprise of banking accounts, pension funds, provident fund, mutual fund, insurance policy, shares, debentures, and other securities. If the stock exchanges are well regulated and function smoothly, then it is an indication of healthy capital market. Stock exchange provide a good leverage of the capital market and their relationship is directly proportional. India has multi-stock exchange system with 24 stock exchanges functioning across the country. In our country, capital markets are generally also known as security/stock market. The Indian capital market currently provides excellent investment opportunities to domestic and foreign investors in both equity and fixed income Segments. The Indian Capital Markets can be broadly classified into three types of markets. 1Money market 2Primary market 3Secondary market Money market The money market is part of overall financial system and securities or capital market. It deals in short term financial assets whish can be readily converted into cash. Money market is a place for trading in money and short tern financial assets that are as liquid as money. It provides a platform for short term surplus funds of lenders or investors and short term requirements of borrowers, the instruments can be traded at low cost and are highly liquid. Primary market Primary market is generally referred to the market of issues or market for new mobilization of resources by the companies and the government undertakings, for new projects as also for expansion, modernization, addition, and diversification and up gradation. Primary market operations include new issues of shares by new and existing companies, further and right issues to existing share holders, public offers, and issue of debt instruments such as debentures, bonds, etc. Raising money from capital market is cheap for the company and involves a low servicing cost. The investors benefit by way of dividend and or capital appreciation. The following are the market intermediaries associated with the primary market 1 Merchant banker/book building lead manager 2 Registrar and transfer agent Underwriter/broker to the issue 4Advisor to the issue 5Banker to the issue 6Depository 7. Depository participant Defects in Indian Primary Market 1. Aggressive pricing and over pricing. 2. Price rigging before and during issues. 3. Poor, wrong and vague disclosures in offer documents. 4. Poor information accessibility. 5. Misleading projections subject to vague assumptions. 6. Delay in penal actions against the erring market intermediaries. 7. SEBI not assuming any responsibility for disclosure/offer documents. 8. Bunching of issues. 9. Existence of grey or unofficial market. 10. Lack of transparency 11. Uninformed and uneducated investors. Delay in listing and trading permission. The Secondary Market The secondary market is the market where scrips are traded. It is a market place, which provides liquidity to the scrips issued in the primary market. Thus, the growth of secondary market is dependent upon primary market. More the number of companies entering the primary market, the greater is the volume at the secondary market. Trading activities in the secondary market are done through recognized exchanges, which are 24 in number including Over the Counter Exchange of India, National Stock Exchange of India, and Inter-connected Stock Exchange of India. Secondary market operations involves buying and selling of securities on the stock exchange through its members. The following intermediaries are involved in the secondary marker. 1Broker/member of Stock Exchange- buyer broker and selling broker 2Portfolio manager 3Investment advisor 4Share transfer agent 5Depository 6Depository participant. WORKING OF A BROKING FIRM Stock Broker According to SEBI Stock Broker is a member of a recognized stock exchange(s) and is engaged in buying, selling and dealing in securities. In other words broker is an intermediary who arranges to buy and sell securities on behalf of clients i. e. the buyer and the seller. A broker can deal in securities only after getting registered with SEBI. through stock exchanges. The constitution of a broking firm may be a Proprietary Concern, a Partnership firm or a Corporate. Dematerialization and Rematerialization Dematerialization It is the process in which the physical form of holding securities is replaced with electronic (book-entry) form of holding. The securities held in dematerialized form are fungible. They do not bear any distinguishable features like distinctive number, certificate number. Once the shares are dematerialized they lose their identification feature in terms of share certificate distinctive number and folio numbers. Each security is identified in the depository system by ISIN (International Securities) Identification number) this is a convenient method for preventing all the problems that occur with physical securities through dematerialization. Pre-requisites for dematerialization request 1. The registered holder of the securities should make the request 2. The request should be made in the prescribed dematerialization request form 3. Securities to be dematerialized must be recognized by a Depository as eligible. In other words only those securities whose ISIN has been activated by a Depository, can be dematerialized. 4 . The company/issuer should have established connectivity with any Depository like NSDL, CDSL, Stock Holding Corporation ltd, only after this connectivity is established that the securities of the company/issuer are recognized to be â€Å"available for dematerialization† 5. The holder of securities should have a beneficiary account in the same name as it appears on the security certificates to be dematerialized INTRODUCTION BANK NIFTY Bank nifty is calculated on the basis of liquidity of stock and on the basis of market capailization. it is calculated by free flot method. Bank Nifty consists of a list of 12 Banking stocks which are part of Bank Nifty. Bank Nifty is the second most popular index on National Stock Exchange of India after Nifty. CNX Bank Index is popularly known as Bank Index. Stocks weightage in bank nifty is determined based on their free float market cap outstanding. Bank Nifty index stocks are selected from banking stocks which are traded on National Stock Exchange of India, which are highly liquid and large capitalized. These banks consistent of 12 banks both public sector banks and private sector banks. Bank Nifty Index provides investors a bench mark of banking stocks performance in Indian capital markets. CNX Bank Index (Bank Nifty) value is calculated on free float market capitalization method. Base date of calculation of Bank Nifty is January 01, 2000 and the starting index value of bank nifty is 1000. Bank Nifty is now highly represented in total market movement. After 2008-09, weight age of bank stocks started to increase even in nifty replacing earlier dominant Information Technology Stocks. Facts about market representation of Bank Nifty The CNX Bank Index represent about 15. 89%of the free float market capitalization of the stocks listed on NSE and 89. 06% of the free float market capitalization of the stocks forming part of the Banking sector universe as on June 28, 2013. The total traded value for the last six months ending June 2013 of all the Index constituents is approximately 15. 55% of the traded value of all stocks on the NSE and 84. 49% of the traded value of the stocks forming part of the Banking sector universe. source : National Stock Exchange of India To be included in the bank index, a stock should be a banking stock with a free float market capitalization company turnover of top 500 stocks. It should also have a trading frequency of atleast 90%. Such Banking stock should also have positive net worth. Bank Index is rebalanced with changes, if any twice a year. The dates of re balancing are 31 January and 31 July . A six week prior notice is given to market if any changes are effected during such semi-annual bank nifty re-balancing reviews. Weightage of bank nifty stocks picture Name Market Cap(cr) Net Profit (cr) EPS P/E ratio Book Value Devidend payout ratio Axis Bank Ltd 50,781. 33 5,179. 43 120. 92 8. 97 151. 39 0. 1488587 Bank of Baroda 25,748. 38 4,480. 72 103. 58 5. 88 756. 64 0. 2075691 Bank of India 12,505. 57 2,749. 35 52. 73 3. 98 400. 88 0. 1896453 Canara Bank 10,496. 89 2,872. 10 64. 42 3. 68 561. 58 0. 1707544 HDFC Bank Ltd 153,624. 36 6,726. 28 31. 66 20. 29 151. 39 4. 3430195 ICICI Bank Ltd 117,831. 00 8,325. 47 79. 51 12. 85 578. 21 0. 2515406 IDBI Bank Ltd 8,449. 78 1,360. 72 14. 82 5. 74 137. 47 0. 0236167 Kotak Mahindra Bank Ltd 55,092. 05 1,360. 72 20. 2 35. 45 123 0. 1386138 Yes Bank 12,411. 28 1,300. 68 40. 95 8. 41 161. 14 0. 146501 Punjab National Bank 18,263. 97 4,747. 67 119. 31 4. 33 924. 45 0. 2263012 State Bank of India 118,881. 68 14,104. 98 179.. 98 9. 67 1445. 6 0. 23058117 Union Bank of India 7,119. 75 2,157. 93 31. 17 3. 83 287. 96 0. 256657 FUNDAMENTAL ANALYSIS Fundamental analysis of a business involves analyzing its financial statements and health, its management and competitive advantages, and its competitors and markets. When applied to futures and forex, it focuses on the overall state of the economy, and considers factors including interest rates, production, earnings, employment, GDP, housing, manufacturing and management. When analyzing a stock, futures contract, or currency using fundamental analysis there are two basic approaches one can use; bottom up analysis and top down analysis. [1] The term is used to distinguish such analysis from other types of investment analysis, such as quantitative analysis and technical analysis. Fundamental analysis is performed on historical and present data, but with the goal of making financial forecasts. There are several possible objectives: to conduct a company stock valuation and predict its probable price evolution, to make a projection on its business performance, to evaluate its management and make internal business decisions, to calculate its credit risk. Two analytical models When the objective of the analysis is to determine what stock to buy and at what price, there are two basic methodologies 1. Fundamental analysis maintains that markets may misprice a security in the short run but that the correct price will eventually be reached. Profits can be made by purchasing the mispriced security and then waiting for the market to recognize its mistake and reprice the security. 2. Technical analysis maintains that all information is reflected already in the stock price. Trends are your friend and sentiment changes predate and predict trend changes. Investors emotional responses to price movements lead to recognizable price chart patterns. Technical analysis does not care what the value of a stock is. Their price predictions are only extrapolations from historical price patterns. Investors can use any or all of these different but somewhat complementary methods for stock picking. For example many fundamental investors use technicals for deciding entry and exit points. Many technical investors use fundamentals to limit their universe of possible stock to good companies. Fundamental analysis includes: 1. Economic analysis 2. Industry analysis 3. Company analysis The analysis of a business health starts with financial statement analysis that includes ratios. It looks at dividends paid, operating cash flow, new equity issues and capital financing. The earnings estimates and growth rate projections published widely by Thomson Reuters and others can be considered either fundamental (they are facts) or technical (they are investor sentiment) based on your perception of their validity. The fundamental analysis consist of financial ratios to gauge the company’s over all performance. 1. Price/Earnings (P/E) Ratio Price/Earnings or P/E ratio is the ratio of a companys share price to its earnings per share. It tells whether the share price of a company is fairly valued, undervalued or overvalued. Formula P/E Ratio = Current Share Price Earnings per Share Leading and Trailing P/E Ratio If the EPS is the figure for the current period the P/E ratio is called trailing P/E ratio. For better analysis the EPS should be the one expected to prevail in the next reporting period, say next year. P/E ratio calculated based on expected P/E ratio is called leading P/E and is a more meaningful estimate of the companys justified P/E ratio. Analysis For financial analysis justified P/E ratio is calculated using dividend discount method. P/E Ratio = Expected Payout Ratio Required Rate of Return ? Dividend Growth Rate If the justified P/E calculated using dividend discount analysis is higher than the current P/E ratio the share is undervalued and should be purchased. If the justified P/E is lower than P/E ratio the share is overvalued and should be sold. 2. Dividend Payout Ratio Dividend payout ratio is the ratio of dividend per share divided by earnings per share. It is a measure of how much earnings a company is paying out to its shareholders as compared to how much it is retaining for reinvestment. Formula Dividend Payout Ratio = Dividend per Share Earnings per Share Dividend payout ratio can also be calculated as total dividends divided by net income. 3. Return On Equity (ROE) Ratio Return on equity or return on capital is the ratio of net income of a business during a year to its stockholders equity during that year. It is a measure of profitability of stockholders investments. It shows net income as percentage of shareholder equity. Formula The formula to calculate return on equity is: ROE = Annual Net Income Average Stockholders Equity Net income is the after tax income whereas average shareholders equity is calculated by dividing the sum of shareholders equity at the beginning and at the end of the year by 2. The net income figure is obtained from income statement and the shareholders equity is found on balance sheet. You will need year ending balance sheets of two consecutive financial years to find average shareholders equity. Analysis Return on equity is an important measure of the profitability of a company. Higher values are generally favorable meaning that the company is efficient in generating income on new investment. Investors should compare the ROE of different companies and also check the trend in ROE over time. However, relying solely on ROE for investment decisions is not safe. It can be artificially influenced by the management, for example, when debt financing is used to reduce share capital there will be an increase in ROE even if income remains constant. 4. Return On Assets (ROA) Ratio Return on assets is the ratio of annual net income to average total assets of a business during a financial year. It measures efficiency of the business in using its assets to generate net income. It is a profitability ratio. Formula The formula to calculate return on assets is: ROA = Annual Net Income Average Total Assets Net income is the after tax income. It can be found on income statement. Average total assets are calculated by dividing the sum of total assets at the beginning and at the end of the financial year by 2. Total assets at the beginning and at the end of the year can be obtained from year ending balance sheets of two consecutive financial years. Analysis Return on assets indicates the number of cents earned on each dollar of assets. Thus higher values of return on assets show that business is more profitable. This ratio should be only used to compare companies in the same industry. The reason for this is that companies in some industries are most asset-insensitive i. e. they need expensive plant and equipment to generate income compared to others. Their ROA will naturally be lower than the ROA of companies which are low asset-insensitive. An increasing trend of ROA indicates that the profitability of the company is improving. Conversely, a decreasing trend means that profitability is deteriorating. CAGR Compounded Annual Growth Rate. The YOY growth rate of an investment over a specified period of time. The compound annual growth rate is calculated by taking the nth root of the total percentage growth rate, where n is the number of years in the period being considered. This can be written as follows: Capital Adequacy Ratio (CAR), also known as Capital to Risk (Weighted) Assets Ratio (CRAR), is a ratio of a banks capital to its risk. National regulators track a banks CAR to ensure that it can absorb a reasonable amount of loss and complies with statutory Capital requirements. Formula Capital adequacy ratios (CARs) are a measure of the amount of a banks core capital expressed as a percentage of its risk-weighted asset. Capital adequacy ratio is defined as: TIER 1 CAPITAL = (paid up capital + statutory reserves + disclosed free reserves) (equity investments in subsidiary + intangible assets + current b/f losses) TIER 2 CAPITAL = A) Undisclosed Reserves + B) General Loss reserves + C) hybrid debt capital instruments and subordinated debts where Risk can either be weighted assets () or the respective national regulators minimum total capital requirement. If using risk weighted assets, ? 10%. [1] The percent threshold varies from bank to bank (10% in this case, a common requirement for regulators conforming to the Basel Accords) is set by the national banking regulator of different countries. Two types of capital are measured: tier one capital ( above), which can absorb losses without a bank being required to cease trading, and tier two capital ( above), which can absorb losses in the event of a winding-up and so provides a lesser degree of protection to depositors. Capital adequacy ratio is the ratio which determines the banks capacity to meet the time liabilities and other risks such as credit risk, operational risk etc. In the most simple formulation, a banks capital is the cushion for potential losses, and protects the banks depositors and other lenders. Banking regulators in most countries define and monitor CAR to protect depositors, thereby maintaining confidence in the banking system. [1] CAR is similar to leverage; in the most basic formulation, it is comparable to the inverse of debt-to-equity leverage formulations (although CAR uses equity over assets instead of debt-to-equity; since assets are by definition equal to debt plus equity, a transformation is required). Unlike traditional leverage, however, CAR recognizes that assets can have different levels of risk. TECHNICAL ANALYSIS The methods used to analyze securities and make investment decisions fall into two very broad categories: Fundamental Analysis and Technical Analysis. Fundamental analysis involves analyzing the characteristics of a company in order to estimate its value. Technical analysis takes a completely different approach; it doesn’t care one bit about the â€Å"value† of a company or a commodity. Technicians (some time called chartists) are only interested in the price movement in the market. Despite all the fancy and exotic tools it employs, technical analysis really just studies supply and demand in a market in an attempt to determine what direction, or trend will continue in the future. In other words, technical analysis attemptsto understand the emotions in the market by studying the market itself, as opposed to its components. If you understand the benefits and limitation of technical analysis it can give you a new set of tools or skills than will enable you to better trader or investor. Definition: Technical analysis is a method of evaluating the securities by analyzing the statistics generated by themarket activity, such as past price and volume. In technical analysis, analyst use charts and othertools to identify patterns that can suggest future activity. Just as there are many investment styles on fundamental side, there is also much different type of technical traders. Some rely on chart patterns. In any case, technical analysts exclusive use of Assumptions: 1. The Market Discounts Everything A major criticism of technical analysis is that it only considers price movement, ignoring thefundamental factors of the company. However, technical analysisassumes that, at any given a time,a stocks price reflects everything that has or couldaffect the company- including Fundamental Factors. Technical analysts believe that the company’s fundamentals, along with broader economic factors and market psychology, are all priced into the stock, removing the need to actually consider these factors separately. This only leaves the analysis of price movement, which technical theory views as a product of supply and demand for a particular stock in the market. 2. Price Moves In Trends In technical analysis, price movements are believed to follow trends. This means that after a trend has been established, the future price movement is more likely to be in the same direction as the trend that to be against it. Most technical trading strategies are based on this assumption. 3. History Tends To Repeat Itself Another important idea in technical analysis is that history tends to repeat itself, mainly in terms o