Securities Analysis and Portfolio Management

ISBN Number : 978-93-5202-992-1

Student Price : Rs.650

Student Dollar Price : 26$

Library Price : Rs.1450

Library Dollar Price : 58$

Book Edition : Twelfth

Year of Publication : 2019

No. Of Pages : 492

Book Weight :870

About The Book

It is gratifying to note that this book has come for the eleventh revision, for which the credit should be given to the faculty and students alike interested in this subject. This is particularly tuned to the Indian students and to the Indian environment or to the similarity of this. The theoretical part is kept simple and lucid for the average student to understand easily. The tenor of the treatment is that the subject is practical oriented and useful for self study and the student’s own analysis and research, on many topics of this subject.

Every edition has included some new changes such as new case studies or examples in addition of the updating of the material. Many errors which crept into it at various stages have also been rectified. The effort of each edition is at improving the subject and further simplification of the material. In a subject as this, there are bound to be some repetitions and they are purposely kept intact for the benefit of the students. Each chapter is made self-sufficient, so that the reader can concentrate only on those topics without going back and forth. As such, some concepts and material have to be repeated quite often such as the return and risk, types of return and risk, etc.

The revision has to bear in mind that although the conceptual part of portfolio management or security analysis may remain unchanged, the environment in which practical operations take place change from time to time depending on a host of factors. For this reason, the material needs to be updated from time to time. The portfolio management depends on the securities pricing, their risk-return characteristics and the corporate state of affairs, which depends on the economy, industry, and savings and investment trends in the sector and the economy. In fact, the stock market being a window of the economy, has to reflect all facts and figures of the economy — internal and external.

The GDP growth rate was robust up to 2007-08 but declined to around 6.8%, in 2008-09 and hopes are that it will continue to grow at around 8% in 2009-10 and 8.5% in 2010-11. Despite such hope, the IIP growth rate was only 8% and in particular the infrastructure industrial growth rate was lower at 6.6% in 2009-10 and 5% in 2011-12. Even then, the continued growth rate of GDP in the economy of India was maintained by the growth of around 9 to 10% in services sector.


Contents :

1. Introduction to Securities
2. Markets for Securities and Taxes
3. Risk and Return − Concepts and Analysis
4. Economic Analysis
5. Industry Analysis
6. Basis for Company Analysis
7. Company Studies and Earnings Forecasts
8. Company Analysis and Equity Research
9. Security Pricing
10. Financial Arithmetics for Equity and Bonds
11. Bond Analysis − Macro-Level
12. Bond Analysis − Micro-Level
13. Bond Management Strategies
14. Options Trading
15. Valuation of Rights, Warrants and Convertible Claims
16. Futures Trading
17. Fundamental Analysis
18. Technical Analysis
19. Efficient Market Theory (Random Walk Hypothesis)
20. Introduction to Portfolio Theory
21. Capital Market Theory
22. Risk and Return in Portfolio Management
23. Capital Asset Pricing Model (CAPM)
24. Portfolio Analysis
25. Diversification and Techniques of Risk Reduction
26. Basics of Portfolio Management in India
27. Markowitz Model
28. modern Portfolio Theory
29. Portfolio Management: Construction, Revision and Evaluation
30. Portfolio Management by Corporates
31. Portfolio Revision-Further Aspects
32. Linear Programming Application
33. Portfolio Management in Mutual Funds
34. Trading in Portfolio Management
35. Securities Market Report (BSE)
Selected Bibliography

About The Author

Dr. V.A. Avadhani, is a retired Adviser in the Reserve Bank of India and a past Director of Research and Training in the Bombay Stock Exchange. He was also a former Adviser in the Hyderabad Stock Exchange.

Dr. Avadhani was Gold medalist from Presidency College, Madras and had a brilliant academic record. He has done in his M.A. in Economics from Madras University and another M.A. from Bombay University by thesis in International Economics. He also holds a Law degree, LL.B. from the Osmania University. He took his Ph.D. degree covering both economics and finance in his comprehensives, from the University of Nebraska, USA. He also holds a certificate in the CAPITAL MARKET STUDIES from the NEW YORK INSTITUTE OF FINANCE, NEW YORK, USA. He is a certificated associate of the Indian Institute of Bankers - a professional qualification for practical bankers (CAIIB).

Dr. Avadhani has vast teaching and research experience at home and abroad. He taught "Money and Central Banking" at the RBIs Bankers Training College, Mumbai. He was visiting Professor at Bajaj Institute of Management, Bombay, Indian Institute of Management, Kolkata and a number of Management Institutes all over India. He taught at the University of Nebraska on Money Management and at the 10th SEANZA, Central Banking course as a Director faculty at Bangkok, Thailand. He studied the working of the Central Banks in Singapore, Australia, and Thailand, and the stock exchanges in New York, London, Singapore, etc.

Dr. Avadhani is a prolific writer. He has authored about twenty books and published about thirty research papers in various journals and financial papers. He developed training modules for brokers and investors and many Russian brokers and international delegates were trained by him including many mutual funds staff. He is considered an expert in the areas of Finance - Capital Markets, Money and International Economics.

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