Structural Reforms and Disinvestment in Indian Economy

Structural Reforms and Disinvestment in Indian Economy: Is it a prudent strategy?

Structural Reforms and Disinvestment in Indian Economy: Is it a prudent strategy?By:Jyoti Gupta (G15085)Kumar Utsav (G15087)Rishabh Singla (G15105)Shashank Jain (G15110)Udit Asati (G15115)HistoryIndian Economy near bankruptcy in the year 1990-91Predominant reason: Balance of paymentsRupee devaluedFiscal Deficit at 8.40% of GDPGross Public Sector Deficit at 10.90% of GDPForeign exchange reserves near to depletion 67 tons of gold pledged as collateral for loans from IMF; structural reforms imposed

What are Structural Reforms??Pre-conditions for loans from IMF and World BankKey aspects:Trade liberalizationRemoval of price controls and subsidiesEncouragement to FDI and FIIBalance of budgets (austerity)Improving governance

Trade LiberalizationLiberalization implies to be less strict Economically, loosening of government regulations in a country to allow free international tradeTrade Sector Reforms :- Elimination of Import Licensing Rationalization of Tariff Structure Adoption of Flexible Exchange rateAbolishment of quantitative restrictions

Pre-liberalization vs Post-liberalizationFluctuations in Indias foreign tradePros and consProsConsEconomic welfare: goods and services at lowest opportunity costUnequal growth of industries; more unemploymentLower pricesIncreased competition leads to increase in efficiencyExploitation of environmentEconomies of scaleIncreased employmentRestrictive growth for developing nationsExercising control over exchange ratesIndia Today28 Free Trade Agreements (FTAs) and Comprehensive Economic Cooperation and Partnership Agreements(CECAs) with countries like Singapore, Mauritius, Australia, Indonesia, Thailand, New Zealand, Japan, South Korea etc.202 Special Economic Zones (SEZs) in 7 Zones.India accounts for 1.44% of exports and 2.12% of imports for merchandise trade and 3.34% of exports and 3.31% of imports for commercial services trade worldwide.One of the most sought investment destination, attracting highest foreign investments in 2014.Fastest growing economy in the world.

Impacts

1. Stock market on a rise2. Share of import/export in GDP has increased by almost 200%.

3. From being an agrarian economy to one of the biggest exporters of services.

Growth in per capita

Disinvestment in PSUs1318-07-201513New economic policy; July 1991 clearly indicated that PSUs had shown a very negative rate of return on capital employed Pillars of growth had become a burden on the economy10 to 15 % of the total GDP were getting reduced on account of low savings from PSUs

DisinvestmentDivestment or disinvestment, as the name suggests, implies the conversion of assets into cash14Price policy of public sector undertakings Underutilisation of capacity Problems related to planning and construction of projectsProblems of labour, personnel and management Lack of Autonomy

15Factors responsible for low profit in PSUsObjectives of DisinvestmentTo reduce the financial burden on the GovernmentTo improve public financesTo introduce, competition and market disciplineFund growthTo encourage wider share of ownershipTo depoliticise non-essential services

16Importance of disinvestment in PSUs

Presently, the Government has about Rs. 2 lakh crore locked up in PSUsDisinvestment of the Government stake is, thus, far too significant.

The importance of disinvestment lies in utilisation of funds for

Financing the increasing fiscal deficit

Financing large-scale infrastructure development

For investing in the economy to encourage spending

For retiring Government debt- Almost 40-45% of the Centres revenue receipts go towards repaying public debt/interest

For social programs like health and education

17Needs of DisinvestmentMore Economic Sense: To extract the locked out funds beyond 51% equity for redeployment in area where development is needed and resources for funding social sector programmes.Increased Competition: All key developments in these PSUs will be closely scrutinized by the investor community and hence competitive spirits will increase in the operations of the PSUs. Robust Economy: The funds help in reducing the current account deficit of the country and hence make Economy more robust and attractive for foreign investments, thereby opening doors for employment and socio-economic growth1819This ensures that the government retains a majority stake in the company, typically greater than 51%, thus ensuring management control.Sale of a large block of shares along with sale of a large block of shares along with transfer of management control to a Strategic Partner identified through a process of competitive bidding. Complete privatization is a form of majority disinvestment wherein 100% control of the company is passed on to a buyer. Examples of this include 18 hotel properties of ITDC Minority divestment

Majority divestment

Complete Privatization18-07-2015Types of disinvestment

20Selection of PSU by MODIApproved by CCDFormulation of IMG and selection of global advisorsSubmission of expression of interestSubmission of initial technical proposalDue diligence/commercial negotiationsFinalize shareholders agreement and share purchase agreementsFinancial bidsSelection of strategic partner and signing of SHA and SPA2-3 Months

2-3 Months

1 Week

18-07-2015Disinvestment Process

2118-07-2015Potential Untapped

The current value of market capitalization of CPSEs of the country is Rs. 13,52,950.42 CroreCPSEs constitute 13.34% and 13.68% of the total market capitalization of companies listed at BSE and NSE respectivelyFor the last 03 years, the targets set for disinvestments funds are being missed.For 2015-16, the government has set a target of Rs 69,500 crore from PSU disinvestment (Rs 41,000 crore minority stake sale in PSUs and Rs 28,500 crore from strategic stake sale)21Historical Data22Historical DataThe Government of India till now has raised a sum of Rs 1,78,792.42 crore through disinvestment since 1991.The Government of India has raised Rs 100,143.45 crore in the last five years through disinvestment.As on 31st March 2014, there were 290 Central Public Sector Enterprises wherein, 169 are Holding CPSEs and 121 are the Subsidiary. Out of this, 07 are Maharatna, 17 are Navaratnas and 54 mini-ratnas. ONGC Public Offer in 2003-04 has been the largest CPSE FPO, raising Rs. 10,542 crore. Coal India Public Offer in 2010-11 has been the largest CPSE IPO, raising Rs. 15,199 crore. 23Impacts of DisinvestmentExposes the privatized companies to market discipline, thereby forcing them to become more efficient and survive or cease on their own financial and economic strengthWider distribution of wealth through offering of shares of privatized companies to small investors and employeesHave a beneficial effect on the capital market, the increase in floating stock would give the market more depth and liquidity, give investors easier exit options.End of public sector monopoly in the telecom and civil aviation sector and privatization has brought to consumers greater satisfaction by way of more choices as well as cheaper and better quality of products and services.Opening up the public sector to appropriate private investment would increase economic activity and have an overall beneficial effect on the economy, employment and tax revenues in the medium to long term

242518-07-2015ChallengesPros & ConsConsProsPrivate sector cannot achieve equal distribution of resources for all classes. Private enterprises only focus on profit maximization. They wont cater poor people. Therefore Government needs to control all or some industrial sectors.Government controlled units cannot compete in free market economy due to political interference and price control mechanisms. Ultimately more public money is wasted in running these loss making entities.Governments dividend income will decline. (Because theyll have fewer shares). Consequently, Fiscal deficit will increase.Government has spent far more crores rupees to revive these PSUs compared to the dividend it has got.The funds received from disinvestment are used to finance fiscal deficit. This is an unhealthy practice. Need amendments in FRBM act to ensure this doesnt happen.Employees of PSUs will be affected and may lose their jobs due to disinvestmentOverstaffing is one of the main reasons why PSUs dont make optimum profit.Disinvestment would lead to private monopoliesUnlikely to happen in todays world. CCI is always watching and punishing the firms that try to create monopoly or oligopoly.To complete the disinvestment targets, Government asks one PSUs to buy shares of another PSU. In such cases, disinvestment doesnt decrease Government control over those companies.Need for a clear policy on disinvestment to stop this practice.2618-07-201527Way Ahead.

18-07-201528IPO Summary - Coal India Limited (CIL)Navratna PSU and the largest coal producing company in the world with the highest market capitalization is Coal India Ltd. at Rs. 2,65,951 crore (BSE)IPO in October 2010. Biggest in history of Indian Stock MarketFund raised - close to INR 1,500,000 million by selling 631.63 million equity sharesThe price band of the IPO was fixed at INR 225-245Issue was highly successful in terms of the response from investors and was oversubscribed by 15.28 timesThe highest oversubscription came from non-institutional investors at 25.4 timesNovember 2010 - Listed at price of INR 287.75 and closed at INR 342.35 on the BSE with the huge turnover of INR 63,241 millionWent past the INR 400 mark to peak at INR 422 on the National Stock Exchange (NSE) on May 31, 2011From about 78 million tonnes at the time of its formulation, production reached a level of about 436 million tonnes in 2011/12

Subsidies as Structural Reforms18-07-201529Subsidies in India amount to around 14% of total expenditure of central government.Over the last 10 years, subsidy pay out of the government has witnessed a steady increase from Rs 48,000 crore in FY06 to Rs 2.61 lakh crore (budget estimate) in 2014-15 - an annual increase of about 22 percent on an average. SubsidiesInstruments of Fiscal policy through which government provides assistance that can be shared by the population at large.

Affect decisions concerning production, consumption and allocation of resources.Account for a significant part of government's expendituresDistinctly affect the supply or demand curves of a product.

Why are subsidies vital to economy?

18-07-2015Types of SubsidiesSUBSIDIES 2015-SALIENT FEATURESRs 2.27 lakh crore ($37 billion) expected to be spent on major subsidies during the fiscal year starting 2015- 16Out of Rs 2.27 lakh crore, Rs 1.24 lakh crore ($20.11 billion) to be given in food subsidies.The subsidy bill on food, petroleum and fertilizers is estimated at Rs 2,27,387.56 crore for 2015-16Of the total food subsidy, nearly Rs 65,000 crore is for implementation of National Food Security Act (NFSA).Fertilizer subsidy has been pegged at Rs 72,968.56 crore for the next fiscal, higher than Rs 70,967.31 crore estimated for this year.Petroleum subsidy has been halved to Rs 30,000 crore for 2015-16 from estimated Rs 60,270 crore in the current fiscal.Why are structural reforms important?Economic Benefits of subsidy reforms:1. Effects on budgetary expenditure 2. Effects on sectoral efficiency and productivitySocial Benefits of subsidy reforms:1.Effects on income distribution across producers and consumers2.Effects on social capitalEnvironmental benefits of subsidy reforms:Ill designed subsidies can harm the environment in indirect way.Pros and consProsConsEconomic welfare: goods and services at lowest costIll structured and ill designed subsidies lead to greater fiscal deficit.Reduces cost of productionExploitation of environmentIncreased employmentInefficient transfer to receipientsPositive externalities in the society through better healthcare and educationFirms may become inefficient in production if they rely upon subsidiesReduced pollution levelsHigher taxes.FDI as Structural Reform4018-07-201540FDIrefers to capital inflows from abroad that invest in the production capacity of the economy.41

Current Status42Net FDI inflows touched 1.7% of gross domestic product (GDP) in the just-ended fiscal year

Foreign investment inflows to India are predominantly to infrastructure, mainly telecom, oil and gas, mining sectors, as well as the services sectorMacroeconomic Analysis of FDI43FDI causes a flow of money into the economy which stimulates economic activity and as a result employment increases.

Long run aggregate supply shifts outwards and Aggregate demand also shifts outwards as investment is a component of aggregate demand.

It may give domestic producers an incentive to become more efficient

The government of the country experiencing increasing levels of FDI haves a greater voice at international summits as their country will have more stakeholders in it.Merits 44Economic growth

Benefit to Trade

Employment and skill levels

Technology diffusion and knowledge transfer

Linkages and spill-overs to domestic firmsDemeritsDomestic firms may suffer if they are relatively uncompetitive.

Inflation may increase slightly if there is a gap between demand and supply sides.

If there is a lot of FDI into one industry e.g. the automotive industry then a country can become too dependent on it and it may turn into a risk

It is conspicuous that FDI can affect local communities, when larger projects come in34FDI and Current Account Deficit: Has India taken FDI seriously ?

FII make our FOREX market extremely volatile --- rupee rises with the rise of SENSEX and falls with the fall in SENSEX on the back of infusion of dollars by FIIs or their withdrawal.

We cant overnight become an exporting nation - 'Make in India' is yet to catch the imagination of foreigners.

Thus Modi government should pull all stops and welcome FDI

35Conclusion There is a long way in front of India to fully extract the benefits of FDI and a lot needs to be done to exploit the benefits of FDI as a facilitator to India's behemoth economy.

3618-07-2015THANK YOUChart41347.88945155335.291367.17039135151.431440.50389095975.361522.34339484795.681619.69348185516.391737.74010282127.291876.31905877517.971957.03156063384.32087.82723656716.682222.31614542066.442319.06292560184.352453.78693752765.812547.92768100713.842764.95891510278.522971.4647.473254.2169.523566.0119.583898.9589.344162.5096.764493.7437.964877.8428.5

GDPGDP Growth Rate(Rs. 000' Crore)Y-O-Y Growth (%)

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Million (Ann)Mar-90Mar-90Mar-90Mar-91Mar-91Mar-91Mar-92Mar-92Mar-92Mar-93Mar-93Mar-93Mar-94Mar-94Mar-94Mar-95Mar-95Mar-95Mar-96Mar-96Mar-96Mar-97Mar-97Mar-97Mar-98Mar-98Mar-98Mar-99Mar-99Mar-99Mar-00Mar-00Mar-00Mar-01Mar-01Mar-01Mar-02Mar-02Mar-02Mar-03Mar-03Mar-03Mar-04Mar-04Mar-04Mar-05Mar-05Mar-05Mar-06Mar-06Mar-06Mar-07Mar-07Mar-07Mar-08Mar-08Mar-08Mar-09Mar-09Mar-09Mar-10Mar-10Mar-10Mar-11Mar-11Mar-11Company NameIndustry groupsalespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)salespatcnt(sales)A B B Ltd.Generators, transformers & switchgears1980.5355.071980.532197.586.52197.52538.599.32538.53191.2166.73191.24532.9305.64532.96211.7507.76211.78969625.4896911732.21549.111732.210591.7648.510591.78729.4377.48729.4775837277587932.8540.17932.810416653.31041611757.6992.811757.615767.31241.915767.3244581543.22445832131.82186.832131.846218.93403.146218.964014.14904.164014.173709.85474.173709.865151.93546.465151.966381.7633.966381.7A C C Ltd.Cement9637.8168.49637.811406.91104.211406.9140901104.71409015057.9655.715057.916181.3607.716181.3204271561.12042723294.62267.823294.624510.5749.924510.523731.1134.423731.125858.3568.425858.326792.2-588.526792.229361.2571.729361.2322601304.33226033718.81038.933718.839003.72002.439003.7454983783.94549849646.87255.7349646.864680.612318.464680.678666.214385.978666.282746.112127.982746.188031.716067.388031.786092.911209.486092.9Adani Enterprises Ltd.Trading2377.293.62377.23831.5131.93831.56733.9236.86733.911345402.81134516022.1538.816022.124121.7625.124121.721844.4656.921844.428043.31109.728043.330062.4118330062.428124.432728124.427617.3534.727617.370686.91240.970686.9135135.31082.9135135.393364.71183.493364.7100617.11506.9100617.1113796.53120.7113796.5113311.93264.2113311.9114334.82544.1114334.829129.62691.129129.6Aditya Birla Nuvo Ltd.Diversified4050198.540504791.1150.44791.16617.4378.46617.48092.8581.338092.89084.6978.69084.610780.71326.410780.714024.21847.514024.2164142147.71641418145.42125.118145.414666.21060.414666.211871.4-2412.311871.415259.5685.215259.515501.4434.615501.415926.31053.315926.317176.11312.817176.119880.41137.219880.427547.51869.327547.535502.42249.735502.441355.62430.741355.650009.41374.350009.449902.3283449902.349902.3283449902.3Ambuja Cements Ltd.Cement1171.9144.61171.91532.4390.91532.41741.13561741.11714.7348.81714.73209.1624.93209.14292.39914292.37305.61415.67305.69303.51321.19303.511457.81301.811457.812523.41505.612523.413027.84278.513027.814473.21929.714473.215826.31789.315826.3202512220.92025123012.83367.923012.830258.44682.930258.44677810021.67467784677810021.674677863962176916396270898.914022.770898.977639.312183.777639.383116.912636.183116.9Ashok Leyland Ltd.Commercial vehicles7076.8185.047076.89448.3262.69448.310580.4244.410580.49766.245.59766.212176.6353.312176.615410.7705.915410.720503.91130.820503.925235.71249.325235.720790.4184.120790.421135.3203.621135.326916.8784.926916.826845916.82684527120922.52712031400.21202.131400.239953.41935.839953.449080.32714.149080.362005.43273.262005.485139.3363585139.391922.74693.191922.768269.61902.668269.680717.54236.780717.5123933.66313123933.6Asian Paints Ltd.Paints & varnishes3044.6211.33044.63584.2151.33584.24577.8298.64577.85089.31985089.35636.2267.65636.26875.5438.96875.58543.45228543.48991.3553.88991.310068.2671.910068.211228.4794.911228.413413.7974.313413.714763.61055.814763.616049.51143.116049.518169.11420.118169.120383.61477.920383.623533.71734.823533.727991.21867.827991.233880.62720.533880.640946.7375240946.750418.73623.650418.757937.2774557937.272444.57751.572444.5Axis Bank Ltd.Banking services17.32112.1150.2160.3310.8510.6861.21365.31921.92783.13345.84850.86590.310710.318153.625145.333884.9Bajaj Auto Ltd.Two & three wheelers98033.97557.898033.995902.5654595902.5123999.217001.1123999.2172743.533397.3172743.5Bank Of BarodaBanking services566.695182.3661.51755.52082.72313.64613.53422.15027.72746.65459.27727.896706768.48269.610264.614355.22227230583.342416.8Bank Of IndiaBanking services194.9566.3-3311.2-10891.5503.52764.83600.23645.12011.41728.22518.85052.2851010083.23400.57014.411231.72009430073.517410.724887.1Bharat Forge Ltd.Automobile ancillaries1848.5103.91848.52327.3145.32327.3259897.625982300.371.32300.32296.6120.82296.63240.7255.33240.74535.4508.14535.45547.5171.95547.55624.4351.75624.44619.6369.14619.65745.5458.15745.55337.9293.65337.94724.8212.94724.86921814.569219077.11254.69077.113165.21615.313165.217042.42070.317042.420270.72450.920270.723678.42735.923678.4211891003.921189193371270.91933730783.43108.330783.4Bharat Heavy Electricals Ltd.Boilers & turbines30316.71203.230316.732661.7369.432661.734732.21500.834732.236427.61331.636427.636972.71368.736972.742110.91409.342110.949527.53501.649527.5573124631.95731263645.87195.363645.868569.15446.368569.168463.15994.468463.166326.73126.166326.775515.24679.575515.277357.34445.177357.389067.16581.589067.1106963.79534106963.7147722.116791.6147722.1190670.224147190670.2217756.728593.4217756.7285042.331382.1285042.3346140.243106.4346140.2346140.243106.4346140.2Bharat Petroleum Corpn. Ltd.Refinery60577.21225.760577.273626.61278.173626.688416.61484.688416.6101772.91700.7101772.9114474.12175.1114474.1132570.72921.8132570.7148227.53857.7148227.5180005.34075.9180005.3206974.75214206974.7256498.47060.4256498.43574297016.33574294683398326.6468339422740.48498.3422740.4485784.912500.3485784.9540844.116945.6540844.1638570.19658638570.1851496.22916.1851496.21074522.718053.81074522.71216840.715804.71216840.71453920.77358.11453920.71314997.215375.31314997.21314997.215375.31314997.2Bharti Airtel Ltd.Telecommunication services3.392.43.363.8-16.883.91.3166.92.2166.9291.73.7291.780948.912106.780948.9112314.720120.8112314.7178516.140332.3178516.1257035.162441.9257035.1340142.977438.4340142.9356095.494261.5356095.4356095.494261.5356095.4Cairn India Ltd.Crude oil & natural gas-701.2812.7-788.212.729.84433.9229.8432-689.53232-689.532Cipla Ltd.Drugs & pharmaceuticals928.943.2928.91236.463.11236.4151482.615141990.3103.61990.32454.7146.12454.72987.1285.42987.13623.6289.63623.64525.8707.54525.85159.21019.75159.26236.41149.56236.47716.51330.67716.510637.21790.710637.214007.22076.314007.215729.82477.415729.820556.62955.920556.624011.74096.124011.731038.16076.431038.136579.56680.336579.542952.47014.342952.453091.37768.153091.356786.210814.956786.256786.210814.956786.2Coal India Ltd.Other financial services1369.73.41369.71369.73.41369.72169-22621691896.2-4141896.21940.5-334.71940.52035.4-131.42035.41361.4-2721361.41212.13920.61212.1966.25408.2966.21068.660621068.61039.25811.81039.21040.62802.11040.61927516819272057.82455.92057.83122.613329.83122.62469.413373.32469.44164.617116.74164.64380.428212.94380.44964.7245384964.74985.933715.74985.96356.5386036356.56356.5386036356.5Crompton Greaves Ltd.Generators, transformers & switchgears5125.9130.85125.96191.5212.26191.57317.3108.47317.37911.1114.97911.18976.3299.98976.310936.5425.910936.515006.1640.415006.115351.8307.615351.816064.5215.216064.516557.7231.216557.716650.6-1465.716650.614048.8-731.614048.817594.641.317594.616978.3281.716978.318708.6708.318708.622546.51147.922546.528021.11630.528021.137006.71923.737006.744017.73139.244017.750342.83970.950342.856276.86173.456276.864111.86943.364111.8D L F Ltd.Commercial complexes489.312.6489.3656.320.6656.3625.426625.4332.68.3332.627527.3275366.96109.52366.96749.6889.04749.681519.71921519.71245169.4712451245169.4712451302.2548.11302.21550.2256.71550.22963.9344.42963.92700.2269.52700.24729.2354.84729.24420.4676.94420.49839.42285.29839.411306.24069.111306.25530025745.95530028340.715775.828340.724118.77650.624118.724118.77650.624118.7Divi'S Laboratories Ltd.Drugs & pharmaceuticals1094.962.91094.91604.2161.51604.21966.6262.81966.62197.9365.72197.92602.75492602.73203.1728.43203.13682.2660.33682.23942.1704.73942.17404.11917.57404.110475.53535.610475.512038.24244.612038.29444.834429444.813260.74355.713260.7Dr. Reddy'S Laboratories Ltd.Drugs & pharmaceuticals262.30.9262.3535.530.2535.51060.5102.81060.51333.4205.31333.41747.2252.11747.21975.8400.11975.82207.6501.72207.62500.83372500.83316.6488.43316.64258.6517.64258.64946.1603.24946.19972.81444.79972.816113.34596.516113.3160703920.91607017551.5283217551.516379.5654.616379.521541.82111.221541.841966.911768.641966.936154475336154453155609453154882684614882657492893457492Educomp Solutions Ltd.Computer software207.117.6207.1247.618.9247.6311.163.3311.15231395231065.7285.81065.72621700.626215011.71315.95011.78322.22218.78322.28322.22218.78322.2Essar Oil Ltd.Refinery1.60.31.61181.6135.31181.64541.7433.84541.73903492.739032834368.828341769424.717692540.3202.42540.32723.3189.22723.32298.9250.52298.91727.3104.31727.31950.93167.731950.931383.6165.121383.61383.6165.121383.68496.878.888496.86492.7-936.86492.74739.8-674.94739.86519.3-411.86519.3418163.8-5135.1418163.8423396.6294.6423396.6423396.6294.6423396.6Financial Technologies (India) Ltd.Computer software24.61.824.660.51060.543.36-6.4843.3641.3-25.641.332.20.332.219.50.119.52.82.8173.159.9173.163.6-94.163.613926.2139268.4127.4268.4320.593.1320.5909424.79091022.91006.11022.91431.59612.51431.53615.736863615.73325.23443.73325.23325.23443.73325.2G A I L (India) Ltd.LNG storage & distribution3270.6-528.93270.67910.1227.37910.110468.5935.510468.527835.42105.327835.431204.53205.431204.533627.63676.233627.641909.65155.241909.643228.66195.543228.654533.910203.154533.961931.110599.261931.177204.98612.777204.99200111261.79200195710.711858.495710.7106557.816391.1106557.8113036.918693.4113036.9129309.919539.1129309.9148788.323100.7148788.3165458.523866.7165458.5185808.126014.6185808.1244146.728037244146.725375831398.425375825375831398.4253758G M R Infrastructure Ltd.Infrastructural construction14.9116.616.916.6109.479.5109.4267.2402.1267.2259.7574.7259.723243.82312.5355.512.528.8100627100976.71056.3134.51056.31056.3134.51056.3Glaxosmithkline Pharmaceuticals Ltd.Drugs & pharmaceuticals3400.3153.63400.34164.21064164.24937.749.54937.75542.3103.35542.36309.84190.46309.846134.41233.936134.46134.41233.936134.47063.44797063.47624.1411.97624.18795.1866.48795.19030.8770.69030.89520.1705.49520.111201.7491.411201.711678.9980.611678.9120951722.31209514908.93330.914908.915938.65020.815938.617108.25455.117108.217613.95376.517613.917962.25765.717962.219703.55122.919703.522098.15636.922098.1Glenmark Pharmaceuticals Ltd.Drugs & pharmaceuticals57831.5578681.252681.2804.176.9804.1993.7130.9993.71453.5216.81453.51928.7170.91928.72613.6227.82613.63336.5331.93336.53814.24203814.25381.3634.85381.36208.36736208.38387.613488387.614087.13890.214087.18737.92179.38737.910345.51284.610345.510345.51284.610345.5Grasim Industries Ltd.Synthetic textiles8759.9600.48759.910281.31005.310281.312625.1106012625.114630.61377.114630.618697.82278.718697.821044.43086.421044.42820233182820231733.12745.631733.1360262307.83602639100.51141.839100.546623.9233146623.952062.4377952062.4507973029.650797542683675.85426861502.67792.661502.672320.38857.172320.376610.88632.176610.896271.315358.196271.3116047.222326116047.2121790.316479.6121790.389393.52092189393.589393.52092189393.5H C L Technologies Ltd.Computer software2759.71009.72759.74003.11999.14003.17254.44267.87254.47241.24019.57241.28725.23124.78725.211285.73257.211285.7144763292.71447630334.66382.930334.63770711017.63770746177.67806.446177.646750.99971.646750.950787.610565.350787.650787.610565.350787.6H D F C Bank Ltd.Banking services13.71202.8405631.58241200.42101.22970.43876509566538707.811414.515901.922449.42948739264Hero Honda Motors Ltd.Two & three wheelers1497.8-3.21497.82118.8158.32118.82713.8161.82713.83015156.330153646.5154.53646.54771.2194.44771.26326.6263.46326.67677.1503.67677.111502.676611502.615364.71213.715364.722537.51920.822537.533698.82468.733698.846381.84629.346381.8528605807.65286069244.97283.269244.987924.68104.787924.6102540.69713.4102540.6117317.58578.9117317.5125188.39678.8125188.3141442.412817.6141442.4174103.722318.3174103.7174103.722318.3174103.7Hindalco Industries Ltd.Copper & copper products6023.7644.16023.76701.6648.26701.68568.6880.48568.69772.311559772.39207.415979207.411181.52919.511181.514218.74011.414218.713085.5390313085.516723.64962.116723.620108.55667.920108.523099.76123.723099.725864.56780.825864.526631.1686026631.154990.25821.454990.268212.38389.368212.3104651.713293.6104651.7124859.216555.5124859.2198821.925643.3198821.9209935.628609.4209935.619695122302.7196951205729.719156.3205729.7205729.719156.3205729.7Hindustan Petroleum Corpn. Ltd.Refinery66443.42002.666443.476995.21201.476995.289963.11297.789963.1106020.92271.5106020.9119529.23069.7119529.2133431.43912.8133431.4148815.95142.5148815.9181146.36122.2181146.3205486.77011.6205486.7260377.18793260377.1344060.610574.1344060.6486404.410880.1486404.4454814.27879.8454814.2544073.815373.6544073.8578611.719039.4578611.765722112773.3657221775263.94055.5775263.997688415709.89768841130472.211346.91130472.21325886.25747.91325886.21160499.413011.81160499.41160499.413011.81160499.4Hindustan Unilever Ltd.Cosmetics, toiletries, soaps & detergents11932.1549.711932.114634.4658.614634.417810.6895.117810.620868.71003.720868.724360.61309.224360.632468.41821.732468.437829.62468.437829.671378.8402571378.883633566783633102615.78059.3102615.7109783.110737.3109783.111431213273.3114312118354.716403118354.711035218258.6110352112031.417717.9112031.4109967.311973.4109967.3121088.714081121088.713189718553.7131897148955.619254.7148955.6175593.3619971.6175593.36184623.422020.3184623.4205988.923059.7205988.9Housing Development & Infrastructure Ltd.Commercial complexes63.8-3.963.8673145.76734291.91139.34291.912153.85418.112153.823945.714105.223945.717197.68304.317197.614936.55966.614936.514936.55966.614936.5Housing Development Finance Corpn. Ltd.Housing finance services298.1457.8555.51053.61461.51956.92278.82683.7333913.44018.113.430.74736.530.744.65800.144.654.26902.954.254.88517.854.851.710365.951.71257372.115703.872.182.824362.582.8108.822965.2108.8104.628416104.696.635315.996.6I C I C I Bank Ltd.Banking services15.84165.1401.3502.2633.510531611258312061.816371.12005225400.731102.241577.337581.340249.851513.8I D B I Bank Ltd.Banking services3516.34741.248696107.77960.710072.811441.715012.912588.767926909.7-20759.73543.74014.13543.76135.6731006135.6750546145.250545608.96303.17294.68585.410311.316503.2I T C Ltd.Tobacco products18075.6526.218075.622864.9775.222864.929721.71156.229721.737441.11553.137441.142138.22063.242138.245603.62616.445603.651351.62610.851351.658687.7346958687.768509.3526268509.375992.46234.275992.479719.47924.479719.486997.510062.686997.598491.611897.298491.6110284.113713.5110284.1118197.715928.5118197.7133611.321914133611.3162366.522353.5162366.5195050.626999.7195050.6214673.831201214673.8232478.432675.6232478.4263996.340616263996.3306335.749882.1306335.7I V R C L Ltd.Infrastructural construction340.63468.31.168.399.47.999.4150.313150.3393.836.8393.8465.423.9465.4785.242.8785.21051.851.61051.82116.488.32116.42671.91282671.93919.9130.93919.94404.5155.14404.57734.4391.87734.410534.9567.110534.915178.9929.615178.923348.81414.623348.836860.42104.836860.449729.92288.849729.955104702.25510455104702.255104Idea Cellular Ltd.Telecommunication services553-1980.25531083.1-3306.61083.11500-1189.615003212.5-2418.63212.56712.2-2124.56712.28514.8-1598.18514.811655.2-2069.111655.216254.3260.516254.320070.7125620070.7436645020.64366467199.910443.667199.998570.810012.198570.8118502.410536.6118502.4118502.410536.6118502.4Indiabulls Financial Services Ltd.Other asset financing services0.40.10.4004.90.6236.10.6742.6747.71531747.7701.13819.6701.1226.51901.7226.5122.92622.5122.9333.86086.6333.8Indian Hotels Co. Ltd.Hotels & restaurants1382.5115.31382.51562.890.31562.82032.2219.22032.22381.4335.42381.42937.2551.82937.23725821.1372552431405.752435768.21468.85768.25956.51379.65956.56032.81191.46032.86041.71132.36041.76880.11167.96880.15810.38075810.35695.7404.85695.76685.9606.56685.98480.41058.68480.411166.21837.811166.215414.33223.915414.317651.73774.617651.716202.62340.316202.614740.5153114740.516744.21412.516744.2Indian Oil Corpn. Ltd.Refinery174887.36745.4174887.3195676.87300.4195676.8207325.47867.8207325.4243016.66770243016.6237147.57720237147.5394072.610188.5394072.6461311.912487.1461311.9615584.614090.3615584.6595160.217065595160.2695728.222131.4695728.2959471.124428.2959471.1122517627196.312251761151824.228839.21151824.21243788.361139.81243788.31359089.370040.71359089.3156768648906.315676861994309.149143.61994309.12384984.474985.62384984.42705595.969616.62705595.93300033.9294863300033.92913840.8102193.52913840.82913840.8102193.52913840.8Infosys Ltd.Computer software93.822.593.8141.335.1141.3289.780.9289.7554.2133.2554.2889.7210.1889.71402.1369.81402.12586.7603.62586.75088.91352.65088.98843.52935.28843.519005.66288.119005.626035.98079.626035.936226.99579.336226.947608.912434.747608.96860019040686009028024210902801314903782013149015648044700156480202970581902029702114005803021140025385064430253850Infrastructure Development Finance Co. Ltd.Infrastructure finance services350.4912881492.30.91404.40.91866.31799.52591.53040.23756.44628.76691.795.27359.295.2126.110128.4126.1100.412771.5100.4J S W Steel Ltd.Steel0.8-8.40.865.5-347.865.526.2-290.426.29295.6-1481.89295.613462-496.21346220003.4-3524.720003.427860.4-1106.727860.435904.95286.835904.9703598701.17035968015.28565.368015.292972.61292092972.612517817281.9125178151307.14585151307.1193964.320227.4193964.3250920.920106.7250920.9Jaiprakash Associates Ltd.Infrastructural construction726.96-865.2726.961714.2-625.81714.22594.6-259.12594.63245.47-146.473245.477846.6798.27846.677846.6798.27846.67270601121.72706026762.21697.426762.2302182076.33021834522.96399.934522.937604.2414937604.243675.36096.743675.361517.59049.761517.5105012.417123.2105012.4105012.417123.2105012.4Jindal Steel & Power Ltd.Steel3332.243723332.244107.6882.84107.651051012.551055755.51075.55755.59931.71450.89931.7139273054.61392724498.75157.124498.728779.55729.428779.539197.97029.939197.961316.312369.661316.384575.315364.884575.378955.814796.878955.878955.814796.878955.8Kotak Mahindra Bank Ltd.Banking services11.895.711.8221.4253.8423642453.7301.5211.1394.5121.8394.5442.6621.4442.6389.7496389.7545.2449.6787.3848.91182.31413.72939.327615631.28181.8L I C Housing Finance Ltd.Housing finance services33.267.3134.7215.3413.5516.6633.4856.51011.41085.81212.61275.41689.71424.81437.22085.72791.53871.95316.26621.89744.9Larsen & Toubro Ltd.Industrial construction9361.1429.79361.112801.3913.412801.314174.91020.614174.921538.81188.321538.827392.71956.427392.732747.42773.632747.442876.23886.942876.253477.64113.553477.6569145314.45691473030.24707.473030.274336.63416.374336.675549.93150.675549.981199.3346881199.387762.9433187762.998945.25327.598945.21337819838.5133781150290.310116150290.3179713.114022.3179713.1253103.121733.1253103.134356634816.1343566373837.943751.7373837.9373837.943751.7373837.9Lupin Ltd.Drugs & pharmaceuticals26.69.526.641780.5417588.920.3588.9680.337.9680.3917.168.6917.11092.1109.31092.11103.9124.91103.9993.9142.35993.98108.3519.78108.38782.5721.88782.510084.9730.710084.911973950.91197312185.8822.912185.817174.3179017174.3205172979.82051726616.24433.826616.229938.54169.729938.537284.16489.337284.145057.98099.845057.9M M T C Ltd.Trading51137.4419.451137.451137.4419.451137.481323916.98132351849.2922.951849.232213.9518.932213.952733674.45273362594.4501.662594.44796782.84796745145.2173.545145.242984.8180.742984.848026.9149.748026.953381.2123.953381.272681185.47268162594.3250.462594.391420.9506.291420.9151383.11071.7151383.1163936.91082.9163936.9233464.11268233464.12640352004.8264035370177.81402.2370177.8452643.62162.4452643.6452643.62162.4452643.6Mahindra & Mahindra Ltd.Passenger cars & multi utility vehicles9028.1131.39028.19983101.3998311967.3187.311967.314584.5238.814584.516741.8678.516741.820391.41135.420391.427831.41623.427831.435214.42093.435214.439976.32514.739976.341020.32259.141020.343207.92634.843207.942778.71205.642778.739360.5969.139360.544997.11455.344997.158888.43405.258888.476547.75126.776547.792764.9857192764.9112384.910683.9112384.9130147.711033.7130147.7146681.38408.5146681.3203961.220877.5203961.2255695.526621255695.5Maruti Suzuki India Ltd.Passenger cars & multi utility vehicles11870.8419.911870.815118.6483.315118.619406.4290.619406.421715.4378.121715.428270.2861.228270.241960.1247641960.164647.54276.564647.577826.35100.777826.383059.56519.183059.578855.65229.978855.69440733019440790615-269490615923131045923139203814649203811128154211112811348598536134859151252118911512521745801562017458021221217308212212234337121872343373222492497632224932224924976322249Mundra Port & Special Economic Zone Ltd.Shipping transport infrastructure services454.0819.6454.08454.0819.6454.08845.221.92845.22726.6618.52726.63856.8672.43856.856081874.456086712.62134.16712.610338.94610.910338.912812.57009.812812.512812.57009.812812.5N H P C Ltd.Electricity generation2439.44932439.41789414.917892364.7705.42364.75392.8936.75392.85150773.751505150773.751509952299499521199230531199212175401212175170264434170261340651441340611996.4510511996.413941.56213.813941.514761.37333.814761.316873.57959.416873.518911.99821.418911.923221.510878.323221.52721810838.52721835154.720944.835154.735154.720944.835154.7N M D C Ltd.Minerals781.1-176.9781.125851202.125852594.58432594.52743.1707.32743.12997.4721.82997.45745.8955.25745.86513.81299.86513.87603.11750.17603.17281.914047281.97904.916007904.910150.52349.810150.511300.52565.511300.512142.3312212142.314536.94326.314536.922299.97554.422299.937109.21827837109.241858.423202.141858.457113.132509.857113.175640.343723.875640.362390.934472.662390.962390.934472.662390.9N T P C Ltd.Electricity generation20417.75365.520417.724065.97009.624065.938931.310070.638931.345074.58865.745074.559368.410579.759368.46393911245.56393983813.813526.183813.898575.216794.498575.2124255.121535124255.1140721.628157.3140721.6163889.234245.3163889.2190498.137338190498.117904935396179049191645360751916452125865260821258622956158070229561268813582022688133280896864732808937248174148372481419728820134197284661098728246610946610987282466109National Aluminium Co. Ltd.Aluminium & aluminium products8726.21568.68726.29030.3719.49030.39823.5591.59823.511699.21348.811699.211978.51567.111978.514834.83001.714834.8175076145.61750717871.64917.617871.618670.85469.618670.815896.52482.515896.5223255115.32232525268.26558.325268.224928.44093.524928.428951.55209.228951.534904.67373.734904.646121.212348.446121.253776.31562253776.366182.823813.866182.856014.916315.256014.95624112722.75624154201.18142.254201.154201.18142.254201.1Nestle India Ltd.Dairy products2565146.325653122167.931223978.8205.73978.84901.6226.54901.65661.2354.65661.27121.6404.77121.69974.6415.59974.612073.2528.612073.214293.4743.314293.416060.5861.916060.515464.3984.715464.316803.11185.916803.119272.81731.519272.820589.52015.220589.522855.22630.822855.223731.62519.223731.626439.63095.726439.62944231512944236474.94138.136474.944720.45340.844720.452325.9655052325.963827.88186.663827.8Oil & Natural Gas Corpn. Ltd.Crude oil & natural gas80665.54087.280665.596495.67912.796495.697576.5619142.497576.56116032.1120102.14116032.11132277.219454.6132277.2132893.520338.8132893.5152402.926777.8152402.9151078.227545151078.2202388.636294.7202388.6238391.952287.8238391.9235434.861978.7235434.8352835.1105293.2352835.1330861.686644.3330861.6468503.7129830.5468503.7497974.7144307.8497974.7596869156429.2596869621531.8167016.5621531.8664043.1161263.2664043.1624588.6167675.6624588.6624588.6167675.6624588.6Power Finance Corpn. Ltd.Infrastructure finance services731.81082.11434.51475.21562.31967.82259.95276.85413.66224.720.66041.320.65.87783.35.82.611718.92.626.516069.926.54.79841.24.710.69709.510.6599861.459141.612067.6141.619699.613623572.513613623572.5136Power Grid Corpn. Of India Ltd.Electricity distribution213.4-18.2213.46312.52366.16312.56454.21878.86454.27997.620767997.69700.92759.59700.910413.23057.510413.214199.93371.614199.917227.74444.217227.720116.36008.820116.325412.27424.925412.223233.86761.523233.823273.86308.623273.822433.17309.122433.125153.77671.725153.731706.1990831706.136131.51211736131.54636414291.74636457135.416721.557135.471634.820140.771634.871634.820140.771634.8Punjab National BankBanking services857.9-959.22377.15012.53763.64081.44636.45623.9842211086.914101.214393.115400.820487.630908.839053.644335Ranbaxy Laboratories Ltd.Drugs & pharmaceuticals2064.546.92064.52587.81212587.83396.9162.13396.94622.2351.64622.25944.7634.95944.77139.21100.67139.28940.11404.88940.110427.31605.310427.312421.31741.712421.3150621498.671506216670.31935.816670.317757.11806.117757.119597.82624.319597.831317.64784.731317.638889.87947.738889.838658.75275.238658.732840.32120.432840.335991.53951.235991.5365626177.23656239734.1-1044839734.146533.75719.846533.754233.811487.354233.8Reliance Capital Ltd.Investment services121.3255.8464.31109.21015.71012.6905.3906.2700.536.81012.236.8253.71026.3253.7100.31057.9100.3127.91058.1127.921.45376.121.457.56461.857.55210220.45266.19680.266.155.23394.255.255.23394.255.2Reliance Communications Ltd.Telecommunication services55.8775.3355.87102136.419270.8102136.4147951.325864.5147951.3150895.848026.7150895.8135575.24789.3135575.2135575.24789.3135575.2Reliance Industries Ltd.Refinery18444.4621.418444.421030.41129.721030.423221.1882.623221.131086.23217.531086.241779.95754.941779.953884.210648.553884.257266.613052.757266.664416.91322764416.997195.21567097195.2106241.517036.9106241.5158471.624032.5158471.6230241.726456.2230241.7454038.832427454038.8500958.141043.1500958.1562470.351371.1562470.373164175716.8731641891244.690693.4891244.61183537.1119439.11183537.11392694.6195063.91392694.61463280.7153093.21463280.72003997.9162356.72003997.92586511.52028632586511.5Reliance Infrastructure Ltd.Electricity generation3763.9117.83763.94574.1330.64574.15721.3382.25721.38010.7628.98010.79944.5616.69944.511810.41266.411810.415308.91734.815308.918217.91994.918217.919638.82630.719638.818296.22695.618296.2223043028.32230422962.92955.122962.9267393051.22673937435.51218.737435.535127.32383.835127.341512.25202.941512.239434.16503.439434.1575258014.55752561010.410846.361010.497597.811388.897597.897146.811516.997146.897146.811516.997146.8Reliance Power Ltd.Electricity generation-0.1-1.322.51.622.5946.7248985.52732.385.585.52732.385.5Rural Electrification Corpn. Ltd.Infrastructure finance services86.4863.686.417.3-937.817.324.971724.924.971724.9155.5696.1947.83002.175.93132.875.97.53359.77.5388557866091.77813.66375.16602.68601.512720.823271.823271.8Sesa Goa Ltd.Minerals1035.1341035.1115554.511551497.13241497.12226.7364.12226.72864.4272.42864.42638.5135.22638.52726.8256.72726.82461.4176.62461.43419.6276.53419.62987.8322.62987.82605.372.32605.33476.9183.13476.92982.3155.92982.34009.2125.94009.26488.5987.86488.515034.14623.815034.117717.7539417717.720171.56064.120171.535717.81492035717.850797.119424.950797.153104.921180.953104.982907.83432882907.8Shriram Transport Finance Co. Ltd.Auto finance services19.223.240.72102.917.576.717.532.544.339.449.47152.8206.323.7238.323.735.4368.435.449.2493.249.2111.81416.4111.8132.21904132.21293898.3129326.56124326.58731.212298.8Siemens Ltd.Generators, transformers & switchgears2915.2790.532915.273832.8140.53832.84371.7164.74371.75282.6248.25282.66752.2276.36752.28839.5351.28839.510597.6372.410597.611689.87-1037.5311689.8710258.2-560.210258.210838351.21083811263.684011263.612281.9687.212281.913619.5865.613619.5151101393.81511019155.51513.719155.529251.82547.529251.847947.13601.147947.180582.65965.480582.686100.75933.386100.786143.310448.586143.395609.28272.195609.295609.28272.195609.2State Bank Of IndiaBanking services1.6850.21.61070.11750.52120.42750.47155831613492.5186121027820515.516042.524316.2310503681043045.244066.745413.167291.291212.391660.582645.2Steel Authority Of India Ltd.Steel76191.41904.676191.482883.12446.982883.194403.23657.194403.2102796.24234.1102796.2117981.35453.4117981.3139944.311085.7139944.3148312.413186.1148312.4142396.95151.7142396.9147183.91329.9147183.9150549.4-15736.6150549.4163104.3-17200.2163104.3162764.6-7286.6162764.6155720.9-17068.9155720.9193424.8-3043.1193424.824376225120.8243762318843.868169.7318843.8323779.640129.7323779.6393125.962022.9393125.9456850.475367.8456850.4488372.761704488372.7440597.267543.7440597.2440597.267543.7440597.2Sterlite Industries (India) Ltd.Copper & copper products709.987.4709.9809.5102.3809.51704.5244.61704.52755.34132755.35297847.352976061.91148.76061.99508.91401.69508.99165.61250.19165.610415.61566.710415.612824.41617.312824.4188432240.71884320658.8127920658.823430.531213.8723430.5323782.21676.723782.232895.91971.532895.942790.51064.242790.579231515279231124575.77840.3124575.7134515.99516.3134515.9122777.412364.3122777.4136764.78241.3136764.7162538.814197.1162538.8Sun Pharmaceutical Inds. Ltd.Drugs & pharmaceuticals538.674.4538.6837.4214.4837.41097.5369.81097.51662.9490.71662.92639.4545.52639.43559590.435594769.3836.64769.35594.41351.85594.46955.71686.46955.77898.32314.17898.38928.924068928.910443.73064.610443.713530.24612.913530.217221.36289.317221.324273.510140.424273.528336.512652.928336.518911.68986.518911.618911.68986.518911.6Suzlon Energy Ltd.Boilers & turbines211.318.2211.3399.449399.41116224.611161530.7283.71530.73875.3846.93875.35249.11114.45249.1332665233267911.514597911.5191753614.71917537884.68211.937884.653914.310611.453914.369422.412657.169422.472544.7-4682.272544.735057.2-14140.935057.235057.2-14140.935057.2Tata Chemicals Ltd.Fertilisers2661.5407.42661.52994.3444.52994.33484.2597.53484.24147.5749.54147.55043.82765.85043.87701.72866.57701.715153.73923.115153.715985.22499.615985.216435.32886.316435.314619.61816.714619.615194.21172.915194.214708.91649.514708.913971.41268.213971.416140.81965.816140.826338.82205.326338.830989.73405.530989.736395.83530.336395.841246.64442.141246.642085.79491.842085.785380.14520.585380.1551484347.85514863540.74084.963540.7Tata Communications Ltd.Telecommunication services3177568.831773761.1785.83761.15982.31041.45982.37349.21123.87349.229110.5176129110.535604.83030.735604.844323.24095.644323.252092.75047.452092.761422.99679.261422.968579.413249.568579.470036.98402.770036.972994.217788.372994.265099.814070.565099.845402.87800.745402.831680.53776.631680.533030.47561.833030.437911.74795.437911.737573.24685.637573.2328333044.63283337494.35159.537494.332180.44831.832180.432180.44831.832180.4Tata Consultancy Services Ltd.Computer software15.42.510.22.520.5151.720.580545.718314.280545.7112392.827168.7112392.8149446.437572.9149446.4182936.745087.6182936.722407946962.1224079230472.856185.1230472.8292770.275699.9292770.2Tata Global Beverages Ltd.Tea2606.8414.92606.82943.3515.72943.33480.4528.63480.43805.3542.33805.34159.1558.84159.13993.2583.63993.25196.9460.85196.96921.9586.16921.987191021.7871987621287.687629136.51245.69136.58244.41002.18244.47628.2719.67628.27484.37067484.37775.3915.37775.38932.71288.18932.79710.11869.39710.110563.83065.710563.811364.53128.611364.513633.51603.413633.517056.23925.617056.217056.23925.617056.2Tata Motors Ltd.Commercial vehicles19058.61025.419058.625012.71420.525012.730243.61281.430243.628759.4300.428759.435430.91013.435430.955114.63189.555114.676364.65058.276364.697683.27623.697683.2702652946.67026563178.9978.563178.986162.171286162.179123.6-5003.479123.686418.1-537.386418.1106077.33001.1106077.3152087.48103.4152087.4202174.212369.5202174.2234394.115288.8234394.1310007.119134.6310007.1324347.820289.2324347.8285132.810165.5285132.8379494.422400.8379494.4379494.422400.8379494.4Tata Power Co. Ltd.Electricity generation4196.4409.54196.44740.9348.34740.95547.9264.85547.97593.1672.77593.19510.8959.79510.810608.51195.110608.511707.5223011707.511924.71179.311924.712064.41646.412064.411597.31663.411597.314038.92386.414038.93379539973379537978.35082.337978.342798.45364.242798.4421615268.54216139730.7551039730.7456006106.4456004704969684704959205.3869959205.372710.5922272710.571169.39387.671169.371169.39387.671169.3Tata Steel Ltd.Steel20665.11415.820665.122334.51601.322334.527872.92005.527872.933521.5119133521.537909.71808.437909.746274.12641.946274.158541.25657.958541.2634854692.16348564292.73220.864292.7551602822.35516061562.84225.961562.871966.35534.471966.375954.1204975954.197884.910123.197884.9119178.817462.2119178.8158676.234741.6158676.2171329.435063.8171329.4197663.842221.5197663.8221893.646870.3221893.6268435.352017.4268435.326757650468267576319019.468611.5319019.4Torrent Power Ltd.Electricity generation25892.331195.1325892.3328236.41435.228236.436671.72112.436671.743657.34078.943657.358655.18365.558655.165830.910657.265830.9Ultratech Cement Ltd.Cement26931.5388.326931.530579.228.530579.237852.92297.637852.954840.47822.854840.46285810076.16285871604.29770.271604.277291.310932.477291.377291.310932.477291.3Union Bank Of IndiaBanking services219.6100.5294.5112.6502.71064.8804.92156.72500.91536.31012.41554.73141.35526.97120.57190.66751.88453.913870.317265.520749.220767.9Unitech Ltd.Housing construction507.540.1507.558846.5588798.951.3798.9964.971.9964.91140.6115.21140.61609.8131.41609.82525.6156.62525.62675.5188.22675.52274.2133.72274.21847.9126.11847.92141.1118.52141.11765.4105.31765.4212969.721292356.6106.42356.63740140.737404948.3288.74948.36551691.3655124467.1984024467.128105.11030328105.118450.87396.618450.818614.55254.718614.518614.55254.718614.5United Phosphorus Ltd.Pesticides274.882.88274.8817.32.717.344.44.744.4935.557.2935.51061.6-2791061.61336-503.913362489.6-292.42489.62570.9-398.72570.91745.9-109.61745.92043.8-549.62043.89093.5399.79093.511339.5542.911339.513924.81139.213924.814950.71070.414950.716582.9919.116582.926259.81477.426259.8279841812.92798431982.6157531982.6United Spirits Ltd.Beer & alcohol11348.4223.911348.412849.3157.712849.314740.6131.114740.616554.1213.516554.117874.8267.317874.836013.7420.236013.746787.44940.246787.455189.33112.855189.374707.22966.674707.292059.73760.292059.792059.73760.292059.7Welspun Corp Ltd.Steel pipes & tubes187.1-21187.1291.3210.52291.32987.094.8987.092563.67.92563.62847.87.32847.8396615.539668938.7719.88938.711131.3338.311131.319117.7613.719117.728857.21425.628857.2417313512.14173160970.12333.560970.169058.4540269058.469058.4540269058.4Wipro Ltd.Computer software1844.445.61844.42242.456.92242.42222.9392222.92445.950.92445.92470.866.62470.87983.5321.97983.511621.9477.611621.912640.1635.312640.114184.3856.514184.318325.51038.518325.523619.32430.623619.331385.16574.231385.134884.68661.134884.640500.38132.340500.351926.99148.851926.972784.414948.272784.4102641202051026411375852842113758517658130633176581216128297382161282300634898023006326401248437264012Yes Bank Ltd.Banking services-26.54553.2943.72000.23038.44777.47271.4Zee Entertainment Enterprises Ltd.Media-broadcasting1.5-1.21.53.1-0.73.154.75.554.7228.492.1228.4458.3202.1458.3881.8227.5881.8912.7289.1912.71768.7436.91768.72268.5611.42268.52877.32672.42877.33831.9812.33831.94039.5797.94039.54769.3943.44769.35027.61183.75027.66467.41622.76467.48311690.883118676.81662.18676.810419.92951.210419.912100.83097.412100.812787.45588.412787.420999.45764.220999.4

Sheet20000

&APage &PGDPGDP Growth RateRs. 000'CroreY-o-Y Growth Rate (%)Gross Domestic Product

Sheet31272241129

Per capita income (Rs.)Rs.Per Capita Income

0000

&APage &PGross capital formationGross capital formation as % of GDP(Rs. 000'Crore)As % of GDPGross Capital Formation

130.010.2282207.4230.337

&APage &PGross savingsGross savings as % of GDP(Rs. 000'Crore)As % of GDPGross Savings

00000000

19912011US$ BillionExports and Imports

000000

19912011Composition of GDP (1991 v/s 2011)

0000

Net FDI InflowsNet FDI OutflowUS$ MillionNet FDI Inflows and Outflows

00

SensexSensex

199119921993199419951996199719981999200020012002200320042005200620072008200920102011GDP108357210990721158025122381613020761396974150837815732631678410178652618643011972606204828622227582971464325421635660113898958416250944937434877842GDP (2004-05 series)1347889.451553271367170.391351531440503.890959691522343.394847891619693.481855081737740.10282121876319.058775071957031.560633772087827.236567132222316.145420572319062.925601822453786.937527632547927.681007112764958.915102682004-05 old series2004-05 new series238876829714641.2439315999199119921993199419951996199719981999200020012002200320042005200620072008200920102011GDP108357210990721158025122381613020761396974150837815732631678410178652618643011972606204828622227582971464325421635660113898958416250944937434877842GDP (2004-05 series)1347889.451553271367170.391351531440503.890959691522343.394847891619693.481855081737740.10282121876319.058775071957031.560633772087827.236567132222316.145420572319062.925601822453786.937527632547927.681007112764958.915102682971464325421635660113898958416250944937434877842GDP1347.91367.21440.51522.31619.71737.71876.31957.02087.82222.32319.12453.82547.92765.02971.53254.23566.03899.04162.54493.74877.8GDP Growth Rate529.0%143.0%536.0%568.0%639.0%729.0%797.0%430.0%668.0%644.0%435.0%581.0%384.0%852.0%747.0%952.0%958.0%934.0%676.0%796.0%850.0%(Rs.)199119921993199419951996199719981999200020012002200320042005200620072008200920102011GDP (2004-05 series)1347889.451553271367170.391351531440503.890959691522343.394847891619693.481855081737740.10282121876319.058775071957031.560633772087827.236567132222316.145420572319062.925601822453786.937527632547927.681007112764958.915102682971464325421635660113898958416250944937434877842population (million)851.7867.8883.9899.9922941.6959.8978.1996.41014.81033.21050.61068.21085.61089110611221138115411701186Per Capita Income158261575416297169171756718455195492000920954218992244523356238532546927286294233178334261360703840841129Growth in Per Capita Income-45.1%344.5%380.2%384.5%505.5%592.7%235.0%472.4%451.2%249.5%405.7%212.6%677.9%713.3%783.2%801.9%779.9%527.9%648.1%708.3%( Rs. Crore)199119921993199419951996199719981999200020012002200320042005200620072008200920102011Savings1300101410891596821899332474622910023130683635063897474842564990335348856465218206851,050,7031,235,2881,486,0441,837,4981,798,3472,207,423Investment ( Rs. Crore)1482061444661734981947242593553117823308063858084081095062445117885206566180357593251,064,0411,279,8911,531,5681,901,9281,927,1072,389,2132,322,097Savings as % of GDP2280.0%2150.0%2120.0%2190.0%2440.0%2440.0%2270.0%2380.0%2230.0%2480.0%2370.0%2350.0%2630.0%2980.0%3240.0%3350.0%3460.0%3690.0%3220.0%3370.0%Investment as % of GDP2600.0%2210.0%2310.0%2250.0%2550.0%2620.0%2400.0%2530.0%2330.0%2590.0%2430.0%2280.0%2520.0%2760.0%3280.0%3470.0%3570.0%3810.0%3450.0%3650.0%2950.0%( Rs. 000'Crore)199119921993199419951996199719981999200020012002200320042005200620072008200920102011Savings130.0141.1159.7189.9247.5291.0313.1363.5389.7484.3499.0534.9646.5820.71050.71235.31486.01837.51798.32207.40.0Investment148.2144.5173.5194.7259.4311.8330.8385.8408.1506.2511.8520.7618.0759.31064.01279.91531.61901.91927.12389.22322.1Savings as % of GDP2280.0%2150.0%2120.0%2190.0%2440.0%2440.0%2270.0%2380.0%2230.0%2480.0%2370.0%2350.0%2630.0%2980.0%3240.0%3350.0%3460.0%3690.0%3220.0%3370.0%Investment as % of GDP2600.0%2210.0%2310.0%2250.0%2550.0%2620.0%2400.0%2530.0%2330.0%2590.0%2430.0%2280.0%2520.0%2760.0%3280.0%3470.0%3570.0%3810.0%3450.0%3650.0%2950.0%199119921993199419951996199719981999200020012002200320042005200620072008200920102011Merchandise Exports (US$ million)184771826618869226832685532310341333568034298375424545244703537746628585206105152128888166162189001182235250468Merchandise Imports (US$ million)2791521064243162673935904436704894851187475445538357912562776446480003118908157056190670257629308521300609380935Service Exports (US$ million)455150224730526461357344747494291318615709162681714020763268684324957659737809034210596395759197583Service Imports (US$ million)35713815360147305533754467488110110211164514576138161712016724278233448944311514905204760033111397US$ Billion199119921993199419951996199719981999200020012002200320042005200620072008200920102011Merchandise Exports18.518.318.922.726.932.334.135.734.337.545.544.753.866.385.2105.2128.9166.2189.0182.2250.5Merchandise Imports27.921.124.326.735.943.748.951.247.555.457.956.364.580.0118.9157.1190.7257.6308.5300.6380.9Service Exports4.65.04.75.36.17.37.59.413.215.716.317.120.826.943.257.773.890.3106.095.8132.0Service Imports3.63.83.64.75.57.56.78.111.011.614.613.817.116.727.834.544.351.552.060.084.3Merchandise Trade Deficit-9.4-2.8-5.4-4.1-9.0-11.4-14.8-15.5-13.2-17.8-12.5-11.6-10.7-13.7-33.7-51.9-61.8-91.5-119.5-118.4-130.5Service Trade Deficit1.01.21.10.50.6-0.20.71.32.24.11.73.33.610.115.423.229.538.953.935.747.7SensexSensexGrowth19911908.8519922615.373701.3%19933346.062793.8%19943926.91735.9%19953110.49-2079.0%19963085.2-81.3%19973658.981859.8%19983055.41-1649.6%19995005.826383.5%20003972.12-2065.0%20013262.33-1786.9%20023377.28352.4%20035838.967288.9%20046602.691308.0%20059397.934233.5%200613786.914670.2%200720286.994714.7%20089647.31-5244.6%200917464.818103.3%201020509.091743.1%201118436.19-1010.7%SectoralAutomobilessalesDateNumbersDateNumbersPassenger carsTwo wheelersPassenger carsTwo wheelers199117918081787501808220CAGR199216716091672301608820Passenger carsTwo wheelers19931651504164850150387014.410.5199421117712106701770570199526522092648202209240199634526603454902660030199741129634109902962700199841830434179353042855199941034024099513402354200063937776385903776778200159137465907183745516200262143086209514307908200366449926644064991808200488256298819505629301200510476576104710965761722006112075661119657756556020071354849213537268491978200815178069151671680689912009166084421659777844179320102122105112121915105110092011264613330264589913329895PowerInstalled Capacity: All IndiaInstalled Capacity: All IndiaThermal Installed Capacity: All IndiaHydro Installed Capacity: All IndiaNuclear Installed Capacity: All IndiaDateMwMwMwMwFrequencyYearTotalThermalHydroNuclearThermalHydroNuclearAnnualL - 2019916608645767.9118753.4215656925.5%2837.7%236.8%AnnualL - 1919926906548085.8819194.3117856962.4%2779.2%258.5%AnnualL - 1819937233050749.4319575.9420057016.3%2706.5%277.2%AnnualL - 1719947675354369.3720379.0420057083.6%2655.1%261.2%AnnualL - 1619958117158113.5420832.7922257159.4%2566.5%274.1%AnnualL - 1519968329460082.9420985.5822257213.4%2519.5%267.1%AnnualL - 1419978579561912.2921658.0822257216.3%2524.4%259.3%AnnualL - 1319988910264972.7621904.5122257291.9%2458.4%249.7%AnnualL - 1219999329468589.4222479.1322257352.0%2409.5%238.5%AnnualL - 1120009788471347.6923856.7826807289.0%2437.2%273.8%AnnualL - 10200110162672343.8325152.9128607118.6%2475.0%281.4%AnnualL - 9200210504675936.1226261.2227207228.8%2500.0%258.9%AnnualL - 8200310787776762.1526766.8327207115.7%2481.2%252.1%AnnualL - 7200411268377969.0729506.8427206919.3%2618.6%241.4%AnnualL - 6200511842680902.4430942.2427706831.5%2612.8%233.9%AnnualL - 5200612428782410.5532325.7733606630.7%2600.9%270.3%AnnualL - 4200713232986014.8534653.7839006500.1%2618.8%294.7%AnnualL - 3200814306191906.8535953.6641206424.3%2513.2%288.0%AnnualL - 2200914796593725.2436877.7641206334.3%2492.3%278.4%AnnualL - 12010159398102453.9836863.445606427.5%2312.7%286.1%AnnualL2011153775111527.4237467.447807252.6%2436.5%310.8%CAGR4.3SteelCrude Steel ProductionCrude Steel ProductionFinished Steel ProductionFinished Steel ProductionFinished Steel ImportsFinished Steel ImportsDate'000 tonnesDate'000 tonnesDate'000 tonnesFrequencyYearDateIvalFinished Steel ProductionGrowth RateDateIvalAnnualL - 2019911356619911180.49AnnualL - 19199214330563.2%1992744.55AnnualL - 18199315200607.1%1993864.23AnnualL - 171994.03.3117603199415199-0.7%1994899.77AnnualL - 161995.03.31197741995178211725.1%19951611.47AnnualL - 151996.03.31225361996214032010.0%19961651.53AnnualL - 141997.03.3123802199722720615.3%19971597.85AnnualL - 131998.03.3124702199823372287.0%19981663.76AnnualL - 121999.03.3123332199923649118.5%19991236.43AnnualL - 112000.03.31256572000271731490.1%20001115.71AnnualL - 102001.03.3126889200129267770.6%20011142.54AnnualL - 92002.03.3127964200230635467.4%20021160.87AnnualL - 82003.03.3130210200333671991.0%20031527.7AnnualL - 72004.03.31387272004385841459.1%20042014.45AnnualL - 62005.03.3143437200541318708.6%20052599.6AnnualL - 52006.03.3146460200644390743.5%20064633.31AnnualL - 42007.03.31508172007501961308.0%20075337.61AnnualL - 32008.03.31538572008560751171.2%20086871.89AnnualL - 22009.03.3154520200957164194.2%20095871.5AnnualL - 12010.03.3165839201060625605.5%20108078.41AnnualL2011.03.3169575201166013888.7%2011CAGR8.2Corporate PerformanceMar-90Mar-91Mar-92Mar-93Mar-94Mar-95Mar-96Mar-97Mar-98Mar-99Mar-00Mar-01Mar-02Mar-03Mar-04Mar-05Mar-06Mar-07Mar-08Mar-09Mar-10Mar-11FrequencyUnitExpressionB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexB S E 100 indexAnnual Finance StandaloneRs. Million (Ann)sales697558.98801237.21044421.21195189.31331237.81724966.172068242.842445427.132639950.72946941.263700735.554521582.274700734.015352486.986081668.277680688.79298953.811799577.313814458.816412153.416924354.818042105.8Annual Finance StandaloneRs. Million (Ann)pat31098.4242404.561893.166552.5395402.62152955.68194290.99213920.17263949.45254007.35299605.75352807.6367915.4563432.82717855.24927966.141057141.871445693.091828239.61808705.122119375.22341416.4Annual Finance Standalonecnt(sales)49485557596061646569727674798182818385848686199119921993199419951996199719981999200020012002200320042005200620072008200920102011Sales Growth1486.3%3035.1%1443.6%1138.3%2957.6%1990.0%1823.7%795.5%1162.9%2557.9%2218.1%396.2%1386.5%1362.3%2629.2%2106.9%2689.1%1707.6%1880.4%312.1%660.4%PAT Growth3635.6%4595.9%752.8%4334.9%6032.6%2702.4%1010.3%2338.7%-376.7%1795.2%1775.7%428.2%5314.2%2740.7%2926.9%1392.0%3675.5%2646.1%-106.8%1717.6%1047.7%Annual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneAnnual Finance StandaloneRs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Rs. Million (Ann)Mar-90Mar-90Mar-91Mar-91Mar-92Mar-92Mar-93Mar-93Mar-94Mar-94Mar-95Mar-95Mar-96Mar-96Mar-97Mar-97Mar-98Mar-98Mar-99Mar-99Mar-00Mar-00Mar-01Mar-01Mar-02Mar-02Mar-03Mar-03Mar-04Mar-04Mar-05Mar-05Mar-06Mar-06Mar-07Mar-07Mar-08Mar-08Mar-09Mar-09Mar-10Mar-10Mar-11Mar-11Company NameIndustry groupsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatsalespatNational Aluminium Co. Ltd.Aluminium & aluminium products8726.21568.69030.3719.49823.5591.511699.21348.811978.51567.114834.83001.7175076145.617871.64917.618670.85469.615896.52482.5223255115.325268.26558.324928.44093.528951.55209.234904.67373.746121.212348.453776.31562266182.823813.856014.916315.25624112722.754201.18142.254201.18142.2Aluminium & aluminium products Total8726.21568.69030.3719.49823.5591.511699.21348.811978.51567.114834.83001.7175076145.617871.64917.618670.85469.615896.52482.5223255115.325268.26558.324928.44093.528951.55209.234904.67373.746121.212348.453776.31562266182.823813.856014.916315.25624112722.754201.18142.254201.18142.2Shriram Transport Finance Co. Ltd.Auto finance services19.223.240.72102.917.576.732.544.339.449.47152.8206.323.7238.335.4368.449.2493.2111.81416.4132.219041293898.3326.561248731.212298.8Auto finance services Total0000019.2023.2040.720102.917.576.7032.5044.3039.4049.470152.80206.323.7238.335.4368.449.2493.2111.81416.4132.219041293898.3326.5612408731.2012298.8Bharat Forge Ltd.Automobile ancillaries1848.5103.92327.3145.3259897.62300.371.32296.6120.83240.7255.34535.4508.15547.5171.95624.4351.74619.6369.15745.5458.15337.9293.64724.8212.96921814.59077.11254.613165.21615.317042.42070.320270.72450.923678.42735.9211891003.9193371270.930783.43108.3Automobile ancillaries Total1848.5103.92327.3145.3259897.62300.371.32296.6120.83240.7255.34535.4508.15547.5171.95624.4351.74619.6369.15745.5458.15337.9293.64724.8212.96921814.59077.11254.613165.21615.317042.42070.320270.72450.923678.42735.9211891003.9193371270.930783.43108.3Axis Bank Ltd.Banking services17.32112.1150.2160.3310.8510.6861.21365.31921.92783.13345.84850.86590.310710.318153.625145.333884.9Bank Of BarodaBanking services566.695182.3661.51755.52082.72313.64613.53422.15027.72746.65459.27727.896706768.48269.610264.614355.22227230583.342416.8Bank Of IndiaBanking services194.9566.3-3311.2-10891.5503.52764.83600.23645.12011.41728.22518.85052.2851010083.23400.57014.411231.72009430073.517410.724887.1H D F C Bank Ltd.Banking services13.71202.8405631.58241200.42101.22970.43876509566538707.811414.515901.922449.42948739264I C I C I Bank Ltd.Banking services15.84165.1401.3502.2633.510531611258312061.816371.12005225400.731102.241577.337581.340249.851513.8I D B I Bank Ltd.Banking services3516.34741.248696107.77960.710072.811441.715012.912588.767926909.7-20759.73543.74014.16135.67310050546145.25608.96303.17294.68585.410311.316503.2Kotak Mahindra Bank Ltd.Banking services11.895.7221.4253.8423642453.7301.5211.1394.5121.8442.6621.4389.7496545.2449.6787.3848.91182.31413.72939.327615631.28181.8Punjab National BankBanking services857.9-959.22377.15012.53763.64081.44636.45623.9842211086.914101.214393.115400.820487.630908.839053.644335State Bank Of IndiaBanking services1.6850.21070.11750.52120.42750.47155831613492.5186121027820515.516042.524316.2310503681043045.244066.745413.167291.291212.391660.582645.2Union Bank Of IndiaBanking services219.6100.5294.5112.6502.71064.8804.92156.72500.91536.31012.41554.73141.35526.97120.57190.66751.88453.913870.317265.520749.220767.9Yes Bank Ltd.Banking services-26.54553.2943.72000.23038.44777.47271.4Banking services Total1.61069.811.85544.108524.904126.90-446.2019986.27024015.7036639.8050902394.535490.2442.642542.6389.739478.10302973543.783560.16135.67102907.15054111524.260126799.30148531.60216521.90284301.20315059.30371671.1United Spirits Ltd.Beer & alcohol11348.4223.912849.3157.714740.6131.116554.1213.517874.8267.336013.7420.246787.44940.255189.33112.874707.22966.692059.73760.292059.73760.2Beer & alcohol Total000000000000000000000011348.4223.912849.3157.714740.6131.116554.1213.517874.8267.336013.7420.246787.44940.255189.33112.874707.22966.692059.73760.292059.73760.2Bharat Heavy Electricals Ltd.Boilers & turbines30316.71203.232661.7369.434732.21500.836427.61331.636972.71368.742110.91409.349527.53501.6573124631.963645.87195.368569.15446.368463.15994.466326.73126.175515.24679.577357.34445.189067.16581.5106963.79534147722.116791.6190670.224147217756.728593.4285042.331382.1346140.243106.4346140.243106.4Suzlon Energy Ltd.Boilers & turbines211.318.2399.4491116224.61530.7283.73875.3846.95249.11114.433266527911.51459191753614.737884.68211.953914.310611.469422.412657.172544.7-4682.235057.2-14140.935057.2-14140.9Boilers & turbines Total30316.71203.232661.7369.434732.21500.836427.61331.636972.71368.742110.91409.349527.53501.657523.34650.164045.27244.369685.15670.969993.86278.170202397380764.35793.980683.35097.196978.68040.5126138.713148.7185606.725003.5244584.534758.4287179.141250.535758726699.9381197.428965.5381197.428965.5A C C Ltd.Cement9637.8168.411406.91104.2140901104.715057.9655.716181.3607.7204271561.123294.62267.824510.5749.923731.1134.425858.3568.426792.2-588.529361.2571.7322601304.333718.81038.939003.72002.4454983783.949646.87255.7364680.612318.478666.214385.982746.112127.988031.716067.386092.911209.4Ambuja Cements Ltd.Cement1171.9144.61532.4390.91741.13561714.7348.83209.1624.94292.39917305.61415.69303.51321.111457.81301.812523.41505.613027.84278.514473.21929.715826.31789.3202512220.923012.83367.930258.44682.94677810021.674677810021.67639621769170898.914022.777639.312183.783116.912636.1Ultratech Cement Ltd.Cement26931.5388.330579.228.537852.92297.654840.47822.86285810076.171604.29770.277291.310932.477291.310932.4Cement Total10809.731312939.31495.115831.11460.716772.61004.519390.41232.624719.32552.130600.23683.433814207135188.91436.238381.7207439820369043834.42501.448086.33093.653969.83259.8889485758.6106335.68495.3134277.71957516629930162.87205486.242153225249.235920.8242962.339183.4246501.134777.9D L F Ltd.Commercial complexes489.312.6656.320.6625.426332.68.327527.3366.96109.52749.6889.041519.71921245169.471245169.471302.2548.11550.2256.72963.9344.42700.2269.54729.2354.84420.4676.99839.42285.211306.24069.15530025745.928340.715775.824118.77650.624118.77650.6Housing Development & Infrastructure Ltd.Commercial complexes63.8-3.9673145.74291.91139.312153.85418.123945.714105.217197.68304.314936.55966.614936.55966.6Commercial complexes Total489.312.6656.320.6625.426332.68.327527.3366.96109.52749.6889.041519.71921245169.471245169.471302.2548.11550.2256.72963.9344.42700.2269.54793350.95093.4822.614131.33424.5234609487.279245.739851.145538.324080.139055.213617.239055.213617.2Ashok Leyland Ltd.Commercial vehicles7076.8185.049448.3262.610580.4244.49766.245.512176.6353.315410.7705.920503.91130.825235.71249.320790.4184.121135.3203.626916.8784.926845916.827120922.531400.21202.139953.41935.849080.32714.162005.43273.285139.3363591922.74693.168269.61902.680717.54236.7123933.66313Tata Motors Ltd.Commercial vehicles19058.61025.425012.71420.530243.61281.428759.4300.435430.91013.455114.63189.576364.65058.297683.27623.6702652946.663178.9978.586162.171279123.6-5003.486418.1-537.3106077.33001.1152087.48103.4202174.212369.5234394.115288.8310007.119134.6324347.820289.2285132.810165.5379494.422400.8379494.422400.8Commercial vehicles Total26135.41210.44344611683.1408241525.838525.6345.947607.51366.770525.33895.496868.56189122918.98872.991055.43130.784314.21182.1113078.91496.9105968.6-4086.6113538.1385.2137477.54203.2192040.810039.2251254.515083.6296399.518562395146.422769.6416270.524982.3353402.412068.1460211.926637.550342828713.8Educomp Solutions Ltd.Computer software207.117.6247.618.9311.163.35231391065.7285.82621700.65011.71315.98322.22218.78322.22218.7Financial Technologies (India) Ltd.Computer software24.61.860.51043.36-6.4841.3-25.632.20.319.50.12.8173.159.963.6-94.113926.2268.4127.4320.593.1909424.71022.91006.11431.59612.53615.736863325.23443.73325.23443.7H C L Technologies Ltd.Computer software2759.71009.74003.11999.17254.44267.87241.24019.58725.23124.711285.73257.2144763292.730334.66382.93770711017.646177.67806.446750.99971.650787.610565.350787.610565.3Infosys Ltd.Computer software93.822.5141.335.1289.780.9554.2133.2889.7210.11402.1369.82586.7603.65088.91352.68843.52935.219005.66288.126035.98079.636226.99579.347608.912434.7686001904090280242101314903782015648044700202970581902114005803025385064430Tata Consultancy Services Ltd.Computer software15.42.510.220.5151.780545.718314.2112392.827168.7149446.437572.9182936.745087.622407946962.1230472.856185.1292770.275699.9Wipro Ltd.Computer software1844.445.62242.456.92222.9392445.950.92470.866.67983.5321.911621.9477.612640.1635.314184.3856.518325.51038.523619.32430.631385.16574.234884.68661.140500.38132.351926.99148.872784.414948.2102641202051375852842117658130633216128297382300634898026401248437Computer software Total1844.445.62242.456.92316.761.52587.2862785.1149.38598.2465.112554.96681.2214083.5979.516803.21460.426193.63400.936468.77364.957818.21719068225.320681.58580120890.311135825138.7237037.755751.5337080.478530.3458317116123.4566227.8138540.1698555.3149863.6734370.8179422.8873067.2204794.6Hindalco Industries Ltd.Copper & copper products6023.7644.16701.6648.28568.6880.49772.311559207.4159711181.52919.514218.74011.413085.5390316723.64962.120108.55667.923099.76123.725864.56780.826631.1686054990.25821.468212.38389.3104651.713293.6124859.216555.5198821.925643.3209935.628609.419695122302.7205729.719156.3205729.719156.3Sterlite Industries (India) Ltd.Copper & copper products709.987.4809.5102.31704.5244.62755.34135297847.36061.91148.79508.91401.69165.61250.110415.61566.712824.41617.3188432240.720658.8127923430.531213.8723782.21676.732895.91971.542790.51064.2792315152124575.77840.3134515.99516.3122777.412364.3136764.78241.3162538.814197.1Copper & copper products Total6733.6731.57511.1750.510273.1112512527.6156814504.42444.317243.44068.223727.6541322251.15153.127139.26528.832932.97285.241942.78364.446523.38059.850061.638073.8778772.47498.1101108.210360.8147442.214357.8204090.221707.5323397.633483.6344451.538125.7319728.434667342494.427397.6368268.533353.4Hindustan Unilever Ltd.Cosmetics, toiletries, soaps & detergents11932.1549.714634.4658.617810.6895.120868.71003.724360.61309.232468.41821.737829.62468.471378.84025836335667102615.78059.3109783.110737.311431213273.3118354.71640311035218258.6112031.417717.9109967.311973.4121088.71408113189718553.7148955.619254.7175593.3619971.6184623.422020.3205988.923059.7Cosmetics, toiletries, soaps & detergents Total11932.1549.714634.4658.617810.6895.120868.71003.724360.61309.232468.41821.737829.62468.471378.84025836335667102615.78059.3109783.110737.311431213273.3118354.71640311035218258.6112031.417717.9109967.311973.4121088.71408113189718553.7148955.619254.7175593.3619971.6184623.422020.3205988.923059.7Cairn India Ltd.Crude oil & natural gas-701.2812.7-788.229.84433.9232-689.532-689.5Oil & Natural Gas Corpn. Ltd.Crude oil & natural gas80665.54087.296495.67912.797576.5619142.4116032.1120102.14132277.219454.6132893.520338.8152402.926777.8151078.227545202388.636294.7238391.952287.8235434.861978.7352835.1105293.2330861.686644.3468503.7129830.5497974.7144307.8596869156429.2621531.8167016.5664043.1161263.2624588.6167675.6624588.6167675.6Crude oil & natural gas Total000080665.54087.296495.67912.797576.5619142.4116032.1120102.14132277.219454.6132893.520338.8152402.926777.8151078.227545202388.636294.7238391.952287.8235434.861978.7352835.1105293.2330861.686644.3468503.7129830.5497974.7144307.8596869155727.92621544.5166228.3664072.94161697.12624620.6166986.1624620.6166986.1Nestle India Ltd.Dairy products2565146.33122167.93978.8205.74901.6226.55661.2354.67121.6404.79974.6415.512073.2528.614293.4743.316060.5861.915464.3984.716803.11185.919272.81731.520589.52015.222855.22630.823731.62519.226439.63095.729442315136474.94138.144720.45340.852325.9655063827.88186.6Dairy products Total2565146.33122167.93978.8205.74901.6226.55661.2354.67121.6404.79974.6415.512073.2528.614293.4743.316060.5861.915464.3984.716803.11185.919272.81731.520589.52015.222855.22630.823731.62519.226439.63095.729442315136474.94138.144720.45340.852325.9655063827.88186.6Aditya Birla Nuvo Ltd.Diversified4050198.54791.1150.46617.4378.48092.8581.339084.6978.610780.71326.414024.21847.5164142147.718145.42125.114666.21060.411871.4-2412.315259.5685.215501.4434.615926.31053.317176.11312.819880.41137.227547.51869.335502.42249.741355.62430.750009.41374.349902.3283449902.32834Diversified Total4050198.54791.1150.46617.4378.48092.8581.339084.6978.610780.71326.414024.21847.5164142147.718145.42125.114666.21060.411871.4-2412.315259.5685.215501.4434.615926.31053.317176.11312.819880.41137.227547.51869.335502.42249.741355.62430.750009.41374.349902.3283449902.32834Cipla Ltd.Drugs & pharmaceuticals928.943.21236.463.1151482.61990.3103.62454.7146.12987.1285.43623.6289.64525.8707.55159.21019.76236.41149.57716.51330.610637.21790.714007.22076.315729.82477.420556.62955.924011.74096.131038.16076.436579.56680.342952.47014.353091.37768.156786.210814.956786.210814.9Divi'S Laboratories Ltd.Drugs & pharmaceuticals1094.962.91604.2161.51966.6262.82197.9365.72602.75493203.1728.43682.2660.33942.1704.77404.11917.510475.53535.612038.24244.69444.8344213260.74355.7Dr. Reddy'S Laboratories Ltd.Drugs & pharmaceuticals262.30.9535.530.21060.5102.81333.4205.31747.2252.11975.8400.12207.6501.72500.83373316.6488.44258.6517.64946.1603.29972.81444.716113.34596.5160703920.917551.5283216379.5654.621541.82111.241966.911768.6361544753453155609488268461574928934Glaxosmithkline Pharmaceuticals Ltd.Drugs & pharmaceuticals3400.3153.64164.21064937.749.55542.3103.36309.84190.46134.41233.936134.41233.937063.44797624.1411.98795.1866.49030.8770.69520.1705.411201.7491.411678.9980.6120951722.314908.93330.915938.65020.817108.25455.117613.95376.517962.25765.719703.55122.922098.15636.9Glenmark Pharmaceuticals Ltd.Drugs & pharmaceuticals57831.5681.252804.176.9993.7130.91453.5216.81928.7170.92613.6227.83336.5331.93814.24205381.3634.86208.36738387.6134814087.13890.28737.92179.310345.51284.610345.51284.6Lupin Ltd.Drugs & pharmaceuticals26.69.541780.5588.920.3680.337.9917.168.61092.1109.31103.9124.9993.9142.358108.3519.78782.5721.810084.9730.711973950.912185.8822.917174.31790205172979.826616.24433.829938.54169.737284.16489.345057.98099.8Ranbaxy Laboratories Ltd.Drugs & pharmaceuticals2064.546.92587.81213396.9162.14622.2351.65944.7634.97139.21100.68940.11404.810427.31605.312421.31741.7150621498.6716670.31935.817757.11806.119597.82624.331317.64784.738889.87947.738658.75275.232840.32120.435991.53951.2365626177.239734.1-1044846533.75719.854233.811487.3Sun Pharmaceutical Inds. Ltd.Drugs & pharmaceuticals538.674.4837.4214.41097.5369.81662.9490.72639.4545.53559590.44769.3836.65594.41351.86955.71686.47898.32314.18928.9240610443.73064.613530.24612.917221.36289.324273.510140.428336.512652.918911.68986.518911.68986.5Drugs & pharmaceuticals Total6656244.68523.9320.310909.139713514.8773.317412.041378.419662.83254.7323261.53869.2327778.53740.133056.84393.441103.64941.2747184.65997.4565485.28052.181469.712790.298718.716089.3117012.119963.2125651.818539.4142213.723109.4185176.140389.8208734.645321235153.731941.3247835.450321278185.859599.7Power Grid Corpn. Of India Ltd.Electricity distribution213.4-18.26312.52366.16454.21878.87997.620769700.92759.510413.23057.514199.93371.617227.74444.220116.36008.825412.27424.923233.86761.523273.86308.622433.17309.125153.77671.731706.1990836131.5121174636414291.757135.416721.571634.820140.771634.820140.7Electricity distribution Total0000213.4-18.26312.52366.16454.21878.87997.620769700.92759.510413.23057.514199.93371.617227.74444.220116.36008.825412.27424.923233.86761.523273.86308.622433.17309.125153.77671.731706.1990836131.5121174636414291.757135.416721.571634.820140.771634.820140.7N H P C Ltd.Electricity generation2439.44931789414.92364.7705.45392.8936.75150773.75150773.79952299411992305312175401217026443413406514411996.4510513941.56213.814761.37333.816873.57959.418911.99821.423221.510878.32721810838.535154.720944.835154.720944.8N T P C Ltd.Electricity generation20417.75365.524065.97009.638931.310070.645074.58865.759368.410579.76393911245.583813.813526.198575.216794.4124255.121535140721.628157.3163889.234245.3190498.13733817904935396191645360752125865260822956158070268813582023280896864737248174148419728820134661098728246610987282Reliance Infrastructure Ltd

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Structural Reforms and Disinvestment in Indian Economy