Ruchi Mar09
-
Upload
baburao-badwe -
Category
Documents
-
view
231 -
download
0
description
Transcript of Ruchi Mar09
-
!"
#$
%$&!
'(
)'* +$ ",!-./$ 0 "
1212132452"6"78$
.9:;."C=!B!D78E+.+.E+.>.>.$,>"
!"#$%&$'()*%&$+$%,$$%-./0--&$ %"1,-%2)3444456789633:;.I*$ &J$+
HKL +* */ * -$/ $2M$0
,$&*K0L&-K*/
>L &* 2$L LK N+* + // *O % AP O**E&* $ / AP LK&'C2M$ AIP0*L-$$ & Q&RDSIP0*LS#*&*O*T$UVO***/ O* E' * H$/ A &CW !*O*2M$+R)$/
"#$XY&@LZ"&+*/
D[ &&G'(*$ $ Q$* ' \]V &D$/
*#$*$**2$D[0)*X-$*@H$/*U$^E&F**/
_ A & `0L&&FH$$&$a/
)?#
$F G!H!(')+6
IJK!$)0,$*9
')'*/&-*=6
DL)++'=b
+126$!)G+$=9
@2'#$67
-
DL
*$+@$Kc&d&ef
&Y P)&**$>!O#/?O# 2"gP ')* 'LYOh* , $$% A O# 2"gP L(NDS'0Lf0L*OhP & Q&YV% Q$V/$$$AD*E&* &($ v A * &GA D* &* $/ &Y&A$&KD[G*ZA* -K* KL%d2%*%L2%-%'w2)x%G(%$L&+D[$**/
#%^DmL[+Z0$%*+&*Z0/ **P 2-% >SZ-y*$$&$&J ^ * 0*
&AP )&** $
-
M
$\$$/&Sd&e*Dm*
*% &Y &A
$%&$0*$&( E&*&"% v *&A$*&$*S&%"&&OO*0d$'A(RZf**$/K$&0E* $ z +&A%A$*\]222 +' iD $ *%^QvLG*+@$$*vLG*fVAF*kL%Q&A&s*$%**#*/0/$*+fV @/ - &* &$ * A ;$ Pi$-($ f +S*P 0D$&Y* O# */ &*'*,*/
&Y &A v &Y &A $2M$ +@B
k+ U' B
K*/ &Y &A k+* 0-% &'(% SG&'D*vLG,%tF%qO* $ v 2.- $-L .&, ' ;^C 0QN&CV */ _ + Q2"g V & * / 2 "gO# (S( ; fA;$&&;$
O &'C U i*$/A'(&-K$%O&'C,($/+P2"g )* &O O*s&a***/A$C* % ^ ?( *k$&'C&G$** O*% .- $L .&$B
2$K2(-LS%;,**2L*f**k$O* % &2) ;$X&$+/j%%$ d ( *f A *A# K+* kLA a G +L f'EA;$&&;$
%'}+%-./2222-% 0p ,$%
&B!IN'O.+C!> '#
+.P Q #.$.." =!$H.
@2R DH'
% $ >..,>>+.?612$?6,>!$G!
I !I,!L12)L T52.$F.I$>.U
.,> .FS>V$+.$ $>
CIOTFW$ #!!&'@2"
-
X
2v'2"gS0,'$ * &'C 2 {++,&$*%&%0,
P$$/GK(**%2"g $&G*0*SG * ;-$/+ *0B+2"gvAP$2G$$2iL2%*A* *-;-**$ E2GOO#*$/
_ Q - Vm $ $ ( %&O &$}% L% 2$L$$ * &A & 2$* $/N*$ "&A% &$*%&%0,(;s+*+H$f ' ;$ & $2*$2|HK& +& &$&*$*$/&A 2"g $ $& * $ &AH$/2"g&A (&A ***2"gO*+ &*!%NDEG & &D*% SO*&*E&E*/A(A&A$&G(&qA&G***&+% O&* &G */ &G Q2"gV&)H-( &2` + $$f*A$A(P +X d&* E &$ & -2-$f 2S iKd&*+22H,L(H$/A*&2$/k+E*$/A(*E*k+2"g &(f&+*qK^H$% A * 2% L-Z$f'#$2&KfAP$$ND!$/$$$R2"g,y$$&*$/*G
'i&$'2&((NDEG$&u k+2"g f 2"g $&2i-**f2*&G&*]~EQ2*tFfV&G& qK^ -L(&$&**% QO
t E0L Y >*'$ */V ?P? O** *% *$2 qK^ ;.k$ U v&R` d+$fk+K$,R+Ud&($*%APC&**, .K, kL qK^$&($$f * 2"g@%
-
0
&A & &A $ E&*&" *% K$ * (i$ C%$((%$&A%$&A&
0 R $ &An&i*"*\$/
&Y&A$% &&G+^%&+C%,%i,?I*%% O+*S*$U `% 0-$ !$&G `% - &Pi, */ GA *(
*$ $% ne*0 */ *0 dI+R*$C*&*d^ EH$%**/AP*&'s*+*/*H*%^&A
$ . + +^%&+% % O&* $ * &Y &A
$*&G(&A$
&$&+/&*e&$,$/$&J%^c>+&C**$$*&($ & /+$$ ZqO#* $K &$K &- &D*H$K *NS*Ne &$/ , &$} /&, U/ A +&-*%A&&A&$C* * / 'K*N&Sd&e&SR " *$ *((;;$/-*^'*+**
&U &G/ L '*+)&- &NF 0* ' &0H$%*&U**&G/A(&U-$C&G+/An+&$%*KU-*/AA'C/
&Y O&* ((*;j&A&$%B`&'O#O#%? ZM'$%$&A%$$ +*% G &A22G& *% B
$ ((% E2G&rA&$*%"%&%0, *$ *N % $%&qA > #+&*C&$/AEEO#&* B* d +p+# $&u S' '( &'O# &+**/
+ i-$ ? & XY'*;j&&G$
%O!O# ;* &'u!% y!%l! & )* &G%" 2 &G E&*D[Z$Gp'*/
'*;j &!%F$S@'&(*%A*I$$*/A@'0*# $# 'S&' *$$" G&(*/&*#-(eC_$ G &($ EA*
*$/
'*;j $% &qA% *
`iB
+L%&G$"G$/'^ + kL $C R
/@# &2) ( r
$
)$/&Y &A $ D[
0*%*Dm*L>0/GKDm*%$K&'O#&&Gl% '( & EAC&&*0a/&YO&*((>&+&A%$&B&$$$/
2 2 - * , Q2&u*V 'L 'L *$&*E+*%
-
Y
GmG 0-$ Ci, P$O*$+%&&LLe2GL,*/$ 'L (L K*$*0**$&$&+#L(-$&+*/d&&'**&*2(+*GG]+2"g ? F*K +**$&O $ 2L **% ASF* &$*% &% 0,K&O$+**]+ R &p 2$ & +2 &$ ^ k2$ 2{+ f d$+r i,*$%-.&'**'L&*&AGI*&TPKO]L&P* ; ] 2F& 222 i 2+$*%cG(
p /2&FE & && iP & L$G */A R I* & I*P** $ * 2F&222P & ( Z0*$/ d* 2F& 222
P*&2#L*[2!,L $ *% A K*,L Q!0V'$/ O*T$&Gm*$@DmHK**&^]
&d&e%&'**
J?'7I>Z[.8>.>\$?'J$7I>Z[.8]!@2DCDC.?C!$.$9&.!#%^%(12?H_52$!B!#'+.*>?&'?/$>I%$52."?$DC'>L$?'? !..(#.>.>?>?>&12?>&."`!-.>(!@2'I&a$!"
-
b
+*&'*2$**/ 2+L$G&`2+L&;+*' GR% + $* ; L , - #*O*2L C * i*$/ $&E* B Q&'&V 0, H$*/ &" , %Za*%&,*22,v $$ 2{ P >>(I.&$,' (* */ ~~S&2F+*
B&*P+$2G$& &-&+%G%k&O,kL ,( * Oi&D*&-* @ ** $ ipf
M(&/
'*&&%2&FE k$/)#$'O#%&*& Ci,*OL* *!Lk*/E0nR'+K/ )#K **kZ$% )#$'P iZ0&$/(Za*ePd'Z0&$%*S*_*Ai&$/ 'P C -A ,
-
B * '-K+(O#( QX+V ' **/-kL*&$+*/
_$%^ 2 EAC+@ P&**G'*%>"&*&*$*%
+Q2$Vi$Li%L$$0fO*2$&*$*fii$L2$/2d*k$/
*+2$k*%*P2 P +@ @DmL[L$f
*'nSs-I+BC
2'APBC&[*K',P ) d`* > )^ Q+-V;L$/
B Q+-V E )*$^*+-?*%AP&"^*UH$/
+- ;$K $CC +-y *-$/ * Q&V H$/
@S*Dm+p/
O#( % " &*sA(E*D[&'S+/*DPE" L* L ' +$ *{$ * */ --$,(LA("&*1#U(K*$)&$$2L,U$&'mSP- E d&*0"u,%$,*/
A(&/Dm2@u,o-(&G' D[ w6449x+$dB
&;$-qK;$*/+XPr
Z!IP `*L $$
**/rZ&Mu, + */ A2 2&+ C* *
-
;-'O#D[&+&&AC*(,(`0I*&D*/.-*$u,o&*&+220DP&&APC* */M .&$;&* Q.&$;&,~&>' w$xV O#,y&$C*O*+ */' Z*/ #-X'+,e */ A*L $ ,
]$&+* 2(Ah*%Ano%XY+*&$* \/ K d *d]EA( *(+ no*$$$$w$///x*$&$*/+KiP$0B
$ $+**%$&E*/
Having said all above%c&*E% ' &no2>Ino-($wMMBAx p '* / $ u,o ?
&A -($ &$ $/A( EAC MMBA $ $ * n o - L &($$/
"PORR*SO#(R e &A $ ^+] M ZqO#* $/ *O#( 2 2 &qA C$!&$$|2M$ *& * L/ * &A $ OR$&0}2$$&+/&A
$ & + | -i*K $ ,( */&AB
N & %, y% * & &, BE0Z+N/ &A+ &* &,&i$*]$%&'%&*& ,# &qA |networking +N/
&qA * %),,G &$0
*
)$% | $* +N / $.%.&-2
-
'
%&'()!D."?12.
K&@L+&*O*C*>(iX*/#'O|(*"*%* W 2iL +&* XEk++&*'A0$/=969P* E# >U E0
*/=969PEI*LN*H$$/*=969+|*A;%+AIU(**/&!O#&(%ZA*i,%2+ &**i, '2+*E# &NA * &' |_ $ u,o ZA UI/-*+>+ v &i$ * (**/*%I#%+^
&+C*0+*/
=969da& */ da & ZA* AZA$ $K **((&K*Z~0$*/&>,&-L2^'A , 2$/&0+*(Classical) &0+*(New-Classical) #'O QV |#'OPZA+& * kL ZAU* zA#O#**AAORK$E&***/i(*ZA%%&"^ + |* * $ * f% |E&*U&J*/=969 &X& *" * $ X($/ QV E&* ;$ $/&@$|E&*;$G
Z$ O*CSi$*$,*h+$A*L#'O+@H$/A(I*E/NHK,Q@L-$V+$,$E+
-
M
*ZA&(L*/|22***.$|L&$^dq&*L***/**Capital market &$ /k+?Za+-ZA"z G-% d' 2( A|Capital market k+'2+**&G*/+*2+H$/?'*+**Z ,,=6:Dj2$$*#26:S74Dm*ZO#&(**f'% 0* &t #O#O$$ A( >L#O#*+ C &*2G+L&+&E**,.K ^ 0**$ &!O# =9b9$+u,oH$AG*)@'@@ u,oH$A( AP 0 &+&/ kL )# 21 $ 21vP *! **/)@'@ @ & 0**/ A( &! C* *&C**/'2+*UZ!** |22** 2 C*d $ &+*/ >L0*#O#*'2+w*2., x O# ; &*/ &* + 2+L k+ '*ZA*O$2/'*;Shok absorbei,/d#+2+Lk+0*E&*0*'*$@**2+z+&O** &*P +O* 0 &$
/#*+0*Za&'D* (Consumer durablesx+*$ 64 ,%ZARO*L&"^LK&,UL v ZA UL &, v* R Uip/A(+U$/+U$U$A(ZAU$$ &($/ +P P
IqO#**+O*&*E/K D* 0* " &P+2*/*
/'*22* A G k*% '*k+GZa*"Za-(AZakL*%'*"a|-Z*kL&$k+A!(L
*/>LZa-Intergrated k+ " u, &$&+/ * $2 .- $B
U(*/$%ByZa&'DO#/*+,$* y Za$ A I0 $*$/ kL K&n*;/?$+Small manS2("'&* ?$big man-+O*"'q
-
Y
0L ( E& , kL*'(K$I&**/*' E& , &+
*X-$%'>$%//'-%A A% P* H ', +$/ AP UP&U*';*%E?%E'*(%**%N2-j%i$%' *k% &$ +*% &$% /E/'- ' ,K'd$ E ;$$/|*&qAS,hSAP *%
(,% h ,+L\$$/
0L$ ,S&'(/
* 0L A ,&*$C*
*^,, &$} a & U *$O*S&' 2/ E#S#,'-%*,& *A2 &'-
&+,U$L$/ZK$ H$ * - ,0LP'22*+ &">&, .$X+ */2^P ,P 22** A* * v A* *K(+**A(AP&*&'LSOSO$/ , G v L(v&qA&GE*/ A*L &'$
!*$$%kLA*%&$'',ZK$$$/2^';*%E%E'*(OGSE&O*0LKAP&$*S&** 0LP *S&&GASE'+% %h*|+L Q$VK +*/ N 2-jr *@k$$/$%&'%%*'*O0&*L A K )*P,-&$$/
*X-$P 22** ! M k+ A 0P'O$ *% A (;*($*/E'$*$**A +$/ * A GQ&'V 2 EA $ /O*,2f*$&G ($% A( *&GKE2L'AG$ / &$* &*
22** &' *QGVSU ( L AP****/,,&$}&K* # , */ >( &' AP-L$jRip'*%,&'P *% &G*AEO*CU(U(
-
b
R'*/,$***$P&'K$,$*L'*(&'A2$2G&'(*fx&'P*,&K*22*%*d'SE&OGj*$SO*PO#*$,*O*2**/*A$O*&' -*/
_ ,B
*'( Q&'V kL$, 2 &'O*$/ (A QLV $X &&'* $ *fx ) ;. &, B
A 0L& $ w$%&' &0S&*0L&/xO*&*2 &*$ )*C O*&G@p'*%'&,*$ hA*% ' &*2G +P d,*K,y$/A(('d$Z$$/A*&&n*%*OO;L*+*/A,&H$*)*P&'*/
A*L> q
-
>,O*$&A22 &' "SQ; ~ 2-V L[PE&,P22**i-$*/* /A 2X $&P*HX2$*/%'(%vG,$O*,O*2$$*/
',(%&00-
, $P 22&0 *%&**&' */
&'*, ;* `$2L +*&
' v'+22O>,y*/
;S*,O*&*S&&'* K
&$*$,&'^**
*/(&DS;.*(*
**/*$&(K%AP2$O# Z R ES&G'0, KS `$ , &A * EAC* Z* |$&$,'@L'**/ O**K%*&*R'*/O*&'K+' &$&$$ Q,VZ0 * ^ &B
&'
,#P2G*+R0*%AE+0LQ&'Vi, ! UK A 0 v O* K A&&'*O0&/
' L[ 0L ,***&'P*$$/A(($&*&&'*,2,.$/, BK,kL &$&$$ &*K,,$ SPerformK%*)*- C O*&G '398%+$%
IH21.$%&P%2)X,o$%2)344448
"4#HB
*":-&*S+$&$&$NL;EL/)#m**$] 0 Z! *% / A;$%2/*&'2%/*2&F& -/ &G&$&*/&P',Z!&(*/
G*DmL[.,2PQGV$SM >U'&($*/(+j*no@&($ * / Q GV2M$ ,_ H$% *SM K- O&NF E&*&" Z,K/
&, Q+$V w, $x G &'*$ *N/&, N* * * Q d 2 - *V ' P',PEm*$/
', E & G>&-(K*EZaP>&-B
i-/*',E&APB
* &'K$*/A}> A$ $ / * k+t*S2*$fQ+$VRU#&'&C*/*A*I2**,ip%H-*U$$$ / )S2 $$*/B*>Q$` V/QO$-.V>C> E Z! * )#m* $]>UA$L$]^ ;L ] Es -$/ * * E* E w&$ Lx $ -$/
'+$$O,'B
*/$)@O P2M$/ +$$ Z! */ * s);s) Q;SS;"X-V&;* * $$/ $$;* $&*-/$&*;i*/&*$Z!*; PG*A$*%Q>L/VR*EZ!(*/*'v+*/$&*A$ &(* & K O,'$2.&sL- O,)$ & -',*/
&PN*$&$KEZ!*&(*%&G&$&**/
&ORPQV2GI*/ ;. & ,#&$&$/,#L(#*22$$*/L(O**+$%Qk#.V/*M0*G0!+$&N$*/L(O**vLS
-
qO$$/L(#*#.$>Y0(*/>Y* E */ *#* ,#*/$&* L( O** /A*L(#C&*+O* ZA, / >L &+^%G&&[-aIqO#*RQ.&$&,$*$ 0 $ $`H - > $ - ( U E/ * ` >E*K $-