The document discusses the conceptual overview of dividend decision policy. It defines dividend decision as the policy formulated regarding earnings distribution to shareholders versus retention. Key points discussed include: - Factors influencing dividend decisions like liquidity, earnings stability, financing needs, and legal requirements. - Forms of dividends like cash, stock, and property dividends. - Models of dividend policy including Walter's, Gordon's, and Modigliani-Miller models. - Dimensions considered in dividend policy including stability, mean payout ratio, and questions around growth versus return of capital to shareholders. The document provides an overview of the conceptual factors involved in a company's dividend decision-making process.

1. INTRODUCTION
The Dividend Decision is a decision made by the directors of a
company. It relates to the amount and timing of any cash payments
made to the company's stockholders. The decision is an important one
for the firm as it may influence its capital structure and stock price. In
addition, the decision may determine the amount of taxation that
stockholders pay.
Dividend decision is the very important financial decision the main
issue involved in dividend decision making is whether the profit
should be used by the owners or be retained and reinvested in the
business itself. Such decision is some what more complex in the
case of earnings rests with board of directors, who recommended a
particular dividend rate to the shareholder for their formal approval
in the annual general meeting of the company it is to be
remembered that the decision regarding the distributions of the
earning to the shareholders is a significant one. The decision
regarding the may amount higher income, lower income or no
income at all to the shareholder. Dividend payment may affect the
mood behavior and responses of prospective investor stock
exchanges, financial institution etc. as well as influencing the
mood of present shareholder.
The second aspect of the financing decision is the determination of
an appropriate capital structure, given the facts of a particular case.
Thus, the financing decision covers two inter related aspects
namely capital structure theory and capital structure decision. And
in what proportion should funds be raised to maximize the return
to the share holders? The third major decision of financial
management is the decision relating to the dividend policy. The
dividend should be analyzed in relation to the financing decision of
a firm.

2. Two alternatives are available in dealing with the profits of a firm;
they can be distributed to the share holders in the form of
dividends or they can be retained in the business itself. The
decision as to which course should be followed depends largely on
a significant element in the dividend decision, the dividend pay out
ratio, that is, what proportion of net profits should be paid out to
the share holders. The final decision will depend upon the
preference of the share holders and investment opportunities
available within the firm. The second major aspect of the dividend
decision is the factors determining dividend policy of a firm in
practice. To conclude, the traditional approach had a very narrow
perception.

3. Nature of Dividend Decision:-
The dividend decision of the firm is crucial for the finance
manager because it determines:
1. the amount of profit to be distributed among the shareholders,
and
2. the amount of profit to be retained in the firm.
There is a reciprocal relationship between cash dividends and
retained earnings.
While taking the dividend decision the management take into
account the effect of the decision on the maximization of
shareholders' wealth.
Maximizing the market value of shares is the objective.
Dividend pays out or retention is guided by this objective.
FACTORS AFFECTING DIVIDEND POLICY:-
• External factor
• Internal factor
External Factors Affecting Dividend Policy:-
• General State of Economy:
• State of Capital Market
• Legal Restrictions
• Contractual Restrictions:

4. General State of Economy:-
• In case of uncertain economic and business conditions, the
management may like to retain whole or large part of
earnings to build up reserves to absorb future shocks.
• In the period of depression the management may also retain a
large part of its earnings to preserve the firm's liquidity
position.
• In periods of prosperity the management may not be liberal
in dividend payments because of availability of larger
profitable investment opportunities.
• In periods of inflation, the management may retain large
portion of earnings to finance replacement of obsolete
machines
State of Capital Market:-
• Favorable Market: liberal dividend policy.
• Unfavorable market: Conservative dividend policy.
Internal Factors affecting dividend decisions:-
• Desire of the Shareholders:
• Financial Needs of the Company
• Nature of earnings
• Desire to retain the control of management:
• Liquidity position:

5. Desire of the Shareholders:-
Though the directors decide the rate of dividend, it is always at the
interest of theshareholders.Shareholders expected two types of
returns.
[I] Capital Gains: i.e., an increase in the market value of shares. [ii]
Dividends: regular return on their investment.
Cautious investors look for dividends because,
[I] It reduces uncertainty (capital gains are uncertain).
[ii] Indication of financial strength of the company.
[iii] Need for income: Some invest in shares so as to get regular
income to meet their living expenses

6. Company profile:-
Hindustan Unilever Limited (HUL) (BSE: 500696) is India's
largest consumer goods company based in Mumbai, Maharashtra.
It is owned by the British-Dutch company Unilever which controls
52% majority stake in HUL. Its products include foods, beverages,
cleaning agents and personal care products.
HUL was formed in 1933 as Lever Brothers India Limited and
came into being in 1956 as Hindustan Lever Limited through a
merger of Lever Brothers, Hindustan Vanaspati Mfg. Co. Ltd. and
United Traders Ltd. It is headquartered in Mumbai, India and has
employee strength of over 16,500 employees and contributes to
indirect employment of over 65,000 people. The company was
renamed in June 2007 as “Hindustan Unilever Limited”.
Lever Brothers started its actual operations in India in the summer
of 1888, when crates full of Sunlight soap bars, embossed with the
words "Made in England by Lever Brothers" were shipped to the
Kolkata harbour and it began an era of marketing branded Fast
Moving Consumer Goods (FMCG).
Hindustan Unilever's distribution covers over 2 million retail
outlets across India directly and its products are available in over
6.4 million outlets in the country. As per Nielsen market research
data, two out of three Indians use HUL products.

7. HUL BRANDS:-
FOOD BRANDS:-
 Annapurna salt and atta
 Bru coffee
 Brooke Bond (3 Roses, Taj Mahal, Taaza, Red Label) tea
 Kissan squashes, ketchups, juices and jams
 Lipton tea
Homecare Brands:-
• Active Wheel detergent
• CIF Cream Cleaner
• Comfort fabric softeners
• Domex disinfectant/toilet cleaner
• Rin detergents and bleach
Personal Care Brands:-
• Axe deodorant and
• after shaving lotion
• Close Up toothpaste
• Dove bar & skin cleansing,
• Denim shaving products
• Fair & Lovely – fairness products
• Hamam
• Lakmé beauty products and salons

8. Company profile of ITC(India Tobacco
Company)
ITC is an Indian public conglomerate company headquartered in
Kolkata, West Bengal, India. Its diversified business includes four
segments: Fast Moving Consumer Goods (FMCG), Hotels,
Paperboards, Paper & Packaging and Agri Business. ITC's annual
turnover stood at $7 billion and market capitalization of over $33
billion. The company has its registered office in Kolkata. It started
off as the Imperial Tobacco Company, and shares ancestry with
Imperial Tobacco of the United Kingdom, but it is now fully
independent, and was rechristened to India Tobacco Company in
1970 and then to I.T.C. Limited in 1974.
ITC was incorporated on August 24, 1910 under the name Imperial
Tobacco Company of India Limited. As the Company's ownership
progressively Indianised, the name of the Company was changed
from Imperial Tobacco Company of India Limited to India
Tobacco Company Limited in 1970 and then to I.T.C. Limited
in 1974. In recognition of the Company's multi-business portfolio
encompassing a wide range of businesses - Cigarettes & Tobacco,
Hotels, Information Technology, Packaging, Paperboards &
Specialty Papers, Agri-business, Foods, Lifestyle Retailing,
Education & Stationery and Personal Care - the full stops in the
Company's name were removed effective September 18, 2001.
The Company now stands rechristened 'ITC Limited'.

9. ITC Product Brands:-
Cigarettes:-
• Gold flack kings
• Classic
• Menthol
• Menthol Rush
• Regular
• Citric Twist
• Mild & Ultra Mild)
• 555
• Benson & Hedges
• Silk Cut
• Scissors
• Capstan
• Berkeley
• Bristol
Foods:-
• Minto
• Sunfeast
• Candyman
• Bingo
• Yippee
• Biscuits

10. • Noodles and Snack Foods
Personal care:-
• Fiama di Wills
• Vivel
• Essenza di Wills
• Superia
• Vivel di Wills
Stationary:-
1.Classmate:-
• Notebooks
• Pens
• Pencils
• Mechanical Pencils

11. • Math Instruments
Conceptual overview of dividend decision policy:-
Dividend decision refers to the policy that the management
formulates in regard to earnings for distribution as dividends
among shareholders. Dividend decision determines the division of
earnings between payments to shareholders and retained earnings.
The Dividend Decision, in corporate finance, is a decision made by
the directors of a company about the amount and timing of any
cash payments made to the company's stockholders. The Dividend
Decision is an important part of the present day corporate world.
The Dividend decision is an important one for the firm as it may
influence its capital structure and stock price. In addition, the
Dividend decision may determine the amount of taxation that
stockholders pay.
Forms of Dividend:-
• Scrip Dividend:- An unusual type of dividend involving the
distribution of promissory notes that calls for some type of
payment at a future date.
• Bond Dividend:-A type of liability dividend paid in the
dividend payer's bonds.
• Property Dividend:- A stockholder dividend paid in a form
other than cash, scrip, or the firm's own stock.

12. • Cash Dividend:- A dividend paid in cash to a company's
shareholders , normally out of the its current earnings or
accumulated profits
• Optional Dividend- Dividend which the shareholder can
choose to take as either cash or stock.
Factors influencing the dividend decision
 Liquidity of funds
 Stability of earnings
 Financing policy of the firm
 Dividend policy of competitive firms
 Past dividend rates
 Debt obligation
 Ability to borrow
 Growth needs of the company
 Profit rates
 Legal requirements
 Policy of control
 Corporate taxation policy
 Tax position of shareholders
 Effect of trade policy
 Attitude of the investor group
Significance of dividend decision:-
• The firm has to balance between the growth of the company
and the distribution to the shareholders
• It has a critical influence on the value of the firm
• It has to also to strike a balance between the long term
financing decision( company distributing dividend in the

13. absence of any investment opportunity) and the wealth
maximization
• The market price gets affected if dividends paid are less.
• Retained earnings helps the firm to concentrate on the
growth, expansion and modernization of the firm
• To sum up, it to a large extent affects the financial structure,
flow of funds, corporate liquidity, stock prices, and growth of
the company and investor's satisfaction.
Dimensions of Dividend Policy:-
The dimensions of dividend policy could be explained as important
factors for formulating a dividend policy. These dimensions
are more like questions the firms ask themselves when they
make the important dividend decision
Questions of Dividend Policy:-
The questions that are normally asked by companies when they
make their dividend decisions are regarding the stability of the
dividends and the mean payout ratio.
Though both these questions are crucial in the context of making
dividend policies they are basically different from each other.
Measures of Dividend Policy:-
* Dividend Payout: measures the percentage of earnings that the
company pays in dividends
= Dividends / Earnings

14. * Dividend Yield: measures the return that an investor can make
from dividends alone
= Dividends / Stock Price
DIVIDEND DECISION POLICY OF MODEL:-
• Walter’s model
• Gordon’s model
• Modigliani and Miller Hypothesis
• Informational contents
• Market imperfection
WALTER’S MODEL:-
James E. Walter's model shows the relevance of dividend policy
and its bearing on the value of the share
• Assumptions
• Valuation
• Optimum Payout Ratio
• Criticism
ASSUMPTION:-
1. Retained earnings are the only source of financing
investments in the firm, there is no external finance involved.

15. 2. The cost of capital, k e and the rate of return on investment, r
are constant i.e. even if new investments decisions are taken,
the risks of the business remains same.
3. The firm's life is endless i.e. there is no closing down.
Basically, the firm's decision to give or not give out dividends
depends on whether it has enough opportunities to invest the retain
earnings i.e. a strong relationship between investment and dividend
decisions is considered.
Walter has given a mathematical model for the above made
statements:
Where,
• P = Market price of the share
• D = Dividend per share
• r = Rate of return on the firm's investments
• ke = Cost of equity
• E = Earnings per share
TYPE OF ASSUMPTION:-
• Internal Financing
• Constant Return and Cost of Capital
• 100% Payout or Retention
• Constant EPS and DIV
• Infinite Time
VALUATION:-

16. Market price per share is the sum of the present value of the
infinite stream of constant dividends and present value of the
infinite stream of capital gains.
OPTIMUM PAUOUT RATIO:-
• Growth Firms - retain all earnings
• Normal Firms - distribute all earnings
• Declining Firms - No effect
MEAN PAYOUT RATIO:-
The factor of mean payout ratio is an important dimensions of any
dividend policy
The dividend payout ratios provided by various business entities are
influenced by the following factors:
• Taxability
• Necessity of Funds
• Difference in value of earnings that have been maintained
and expenses of external equity
• Ability to receive financing from sources that are external
• Questions of Control
• Choice of the shareholders
Gordon’s model:-
Myron J. Gordon has also supported dividend relevance and
believes in regular dividends affecting the share price of the firm

17. • Assumptions
• Valuation
• Optimum Payout Ratio
• criticism
ASSUMPTION:-
Gordon's assumptions are similar to the ones given by Walter.
However, there are two additional assumptions proposed by him:
1. The product of retention ratio b and the rate of return r gives
us the growth rate of the firm g.
2. The cost of capital ke, is not only constant but greater than the
growth rate i.e. ke>g.
The market price of the share is calculated as follows:
Where,
• P = Market price of the share
• E = Earnings per share
• b = Retention ratio (1 - payout ratio)
• r = Rate of return on the firm's investments
• ke = Cost of equity
• br = Growth rate of the firm (g)
Therefore the model shows a relationship between the payout ratio,
rate of return, cost of capital and the market price of the share.

18. Types of assumption:-
• All Equity Firm
• No External Financing
• Constant Return and Cost of Capital
• Perpetual Earnings
• No Taxes
• Constant Retention
• Cost of Capital greater than Growth Rate
VALUATION:-
Market value of a share is equal to the present value of an infinite
stream of dividends to be received by shareholders
P = EPS (1-b)/(1-br)
OPTIMUM PAYOUT RATIO:-
• Growth Firms -Retain all earnings
• Normal Firms -Distribute all earnings
• Declining Firms -No effect
MODIGLIANI AND MILLER HYPOTHESIS:-

19. According to M-M, under a perfect market Situation, the dividend
policy of a firm is Irrelevant as it does not affect the value of the
Firm. They argue that the value of the firm depends on firm
earnings which results from its Investment policy. Thus when
investment Decision of the firm is given, dividend decision is of no
significance
ASSUMPTIONS:-
The MM approach has taken into consideration the following
assumptions:
1. There is a rational behavior by the investors and there exists
perfect capital markets.
2. Investors have free information available for them.
3. No time lag and transaction costs exist.
4. Securities can be split into any parts i.e. they are divisible
5. No taxes and floatation costs.
6. The investment decisions are taken firmly and the profits are
therefore known with certainty. The dividend policy does not
affect these decisions.
.

20. Research Methodology:-
• Panel data approach is used to measure the relationship
between the dividend policy and Stock Prices.
• The result of the study is based on the fixed-effect model as it
provides statistically better results than
• Pooled OLS and random-effect model when characteristics of
sample differ. All the companies differ
• in their size, assets, no. of shareholders, management,
leverage etc. that’s why random effect model is
• Used. The basic test is to regress dependent variable (market
price of shares) against the two important
• variables Dividend Yield and Retention Ratio after including
the control variables Profit after Tax,
• Earnings per Shares and Return on Equity are included to see
their effect on Stock Prices. This
• Provided a crude test for measuring the relationship between
Stock Prices and dividends.
• The following regression line is used for this purpose:
• MPi = α0+α1RRi+α2DYi+α3 PATi+α4 EPSi+α5ROEi+ €i
• Fixed-effect model is used to see the effect of dividends on
the Stock Prices. It is expected that
• all the Dividend Yield, Profit after Tax Earnings per Shares
and Return on Equity will be positively
• associated to Stock Prices while Retention Ratio will be
positively or negatively related to Stock

21. • Prices. This will depend on investors’ perception. If investors
consider that companies have profitable
• Investment opportunities inside than Retention Ratio will be
positively related to Stock Prices. If
• investors get better and profitable investment opportunities
outside than the company has provided, in
• That case Retention Ratio will be negatively related to Stock
Prices.
DATA COLLECTION:-
Data Collection is obtaining useful information? The issue is not:
How do we collect data It is: How do we obtain useful data?
Statistics is a tool for converting data into information.
But where then does data come from? How is it gathered? How do
we ensure its accurate? Is the data reliable? Is it representative of
the population from which it was drawn? This chapter explores
some of these issues.
For the purpose of analyzing the data is necessary to collect the
vital information.
The financial statistics of the respondent companies have been
collected from the
Secondary sources. The companies range from medium-sized firms
(19.8% of the sample
Firms have sales less than or equal to Rs. 2 bn; 18.5% have assets
less than or equal to
Rs. 2 bn; 37.2% have market capitalization less than or equal to
Rs. 2 bn) to very large
sized firms (37% have sales greater than Rs. 10 bn; and 22.2%
have assets greater than
Rs. 25 bn; and 20.5% have market capitalization greater than Rs.
25 bn).

22. The median Return on Capital Employed (ROCE) is 12.8%. 41%
of the respondent
firms have ROCE greater than 15%. The median EVA of
respondent firms is negative and
34.6% have positive EVA. The median debt to total value ratio of
respondent firms is
21.26% and 29.6% have less than or equal to 5%. 88% of the
respondent firms are in the
Private sector as against 12% in the public sector.
SECONDRY DATA:-
Secondary data means data that are already available i.e. they refer
the data which have already been collected and analyzed by
someone else. when the researcher utilizes secondary data, then he
hase to look into various sources from where he can obtain them,
in this case he is certainly not confronted with the problem that are
usually associated with the collection of original data. Secondary
data may either be published data or unpublished data are available
in:
• Various publication of foreign government or of
international bodies and their subsidiary organizational;
• Technical and trade journals;
• Books, magazines and newspaper;
• Report and publication of various association connected with
business san industry, stock exchanges etc.;
• Report prepared by research scholars, universities,
economists etc.;
• Public record and statistics, historical document and other
resources of published information.
The source of unpublished data is many; they may be found in
diaries, letters, unpublished biographies and autobiographies
and also may be available with scholars and research workers,.

23. Data collection of hul of 3 years:-
Date Close Price Date Close price Date Close price Date close price
30-Mar-12 410.05 8-Feb-12 388.55 20-Dec-11 396.7 25-Oct-11 341.05
29-Mar-12 408.35 7-Feb-12 382.15 19-Dec-11 396.2 24-Oct-11 336.9
28-Mar-12 412.5 6-Feb-12 387.05 16-Dec-11 392.8 21-Oct-11 326.1
27-Mar-12 416.05 3-Feb-12 401.4 15-Dec-11 395.2 20-Oct-11 330.45
26-Mar-12 403.35 2-Feb-12 390.7 14-Dec-11 384.45 19-Oct-11 331.45
23-Mar-12 403.1 1-Feb-12 384.75 13-Dec-11 386.05 18-Oct-11 329.45
22-Mar-12 395.85 31-Jan-12 378.95 12-Dec-11 383.3 17-Oct-11 333.9
21-Mar-12 403.2 30-Jan-12 382.35 9-Dec-11 385.7 14-Oct-11 331.45
20-Mar-12 395.4 27-Jan-12 389.95 8-Dec-11 392.95 13-Oct-11 326.75
19-Mar-12 393.85 25-Jan-12 393.55 7-Dec-11 396.75 12-Oct-11 329.35
16-Mar-12 390.2 24-Jan-12 393.1 5-Dec-11 395 11-Oct-11 325.8
15-Mar-12 388.1 23-Jan-12 395.65 2-Dec-11 394.9 10-Oct-11 331.15
14-Mar-12 381.55 20-Jan-12 391.15 1-Dec-11 390.6 7-Oct-11 329.35
13-Mar-12 381.8 19-Jan-12 391.4 30-Nov-11 397.15 5-Oct-11 321.9
12-Mar-12 380.55 18-Jan-12 392.25 29-Nov-11 388.2 4-Oct-11 326.25
9-Mar-12 382.25 17-Jan-12 397.6 28-Nov-11 381.9 3-Oct-11 334.15
7-Mar-12 385 16-Jan-12 386.35 25-Nov-11 375.8 30-Sep-11 340.6
6-Mar-12 380.2 13-Jan-12 391.65 24-Nov-11 385 29-Sep-11 343.8
5-Mar-12 382.55 12-Jan-12 394.05 23-Nov-11 383.65 28-Sep-11 334.75
3-Mar-12 381.35 11-Jan-12 392.5 22-Nov-11 384.9 27-Sep-11 338.8
2-Mar-12 382.85 10-Jan-12 395.45 21-Nov-11 390.2 26-Sep-11 328.9
1-Mar-12 380.35 9-Jan-12 393.45 18-Nov-11 389.85 23-Sep-11 331.15
29-Feb-12 380.2 7-Jan-12 395.65 17-Nov-11 390.7 22-Sep-11 331.9
28-Feb-12 381.25 6-Jan-12 396.8 16-Nov-11 391.9 21-Sep-11 338.75
27-Feb-12 380.05 5-Jan-12 393.35 15-Nov-11 391.35 20-Sep-11 343
24-Feb-12 385.9 4-Jan-12 395.45 14-Nov-11 399.55 19-Sep-11 337.85
23-Feb-12 388.2 3-Jan-12 407.95 11-Nov-11 395.65 16-Sep-11 339.35
22-Feb-12 378.5 2-Jan-12 402.4 9-Nov-11 392.9 15-Sep-11 349.25
21-Feb-12 381.95 30-Dec-11 407.4 8-Nov-11 380.7 14-Sep-11 352.6
17-Feb-12 385.1 29-Dec-11 414.3 4-Nov-11 379.65 13-Sep-11 341.35
16-Feb-12 384.05 28-Dec-11 411.65 3-Nov-11 382.25 12-Sep-11 346
15-Feb-12 388.5 27-Dec-11 416.75 2-Nov-11 390.05 9-Sep-11 333.15

24. 14-Feb-12 391.85 26-Dec-11 419.2 1-Nov-11 388.1 8-Sep-11 324.75
13-Feb-12 391.75 23-Dec-11 411.7 31-Oct-11 375.8 7-Sep-11 320.5
10-Feb-12 387.4 22-Dec-11 408.4 28-Oct-11 351.05 6-Sep-11 320
9-Feb-12 393.35 21-Dec-11 401.5 26-Oct-11 343 5-Sep-11 319.85
Date Close price Date Close price Date Close price Date Close Price
5-Jan-11 325.7 3-Nov-10 296 2-Sep-10 269.9 5-Jul-10 266.15
4-Jan-11 320.9 2-Nov-10 294.6 1-Sep-10 266.55 2-Jul-10 268.4
3-Jan-11 313.15 1-Nov-10 294.55 31-Aug-10 264.5 1-Jul-10 272.5
31-Dec-10 312.9 29-Oct-10 294.7 30-Aug-10 263.65 30-Jun-10 267.55
30-Dec-10 309.3 28-Oct-10 291.3 27-Aug-10 263.95 29-Jun-10 262.65
29-Dec-10 304.7 27-Oct-10 293 26-Aug-10 265.65 28-Jun-10 266.75
28-Dec-10 294.4 26-Oct-10 298.25 25-Aug-10 268 25-Jun-10 266.25
27-Dec-10 296.25 25-Oct-10 306.3 24-Aug-10 269.65 24-Jun-10 270.9
24-Dec-10 295 22-Oct-10 301.25 23-Aug-10 268.85 23-Jun-10 266.2
23-Dec-10 291.1 21-Oct-10 306.45 20-Aug-10 268.9 22-Jun-10 261.75
22-Dec-10 293.5 20-Oct-10 293.4 19-Aug-10 274.05 21-Jun-10 258.75
21-Dec-10 293.75 19-Oct-10 297 18-Aug-10 269.25 18-Jun-10 257.75
20-Dec-10 295.15 18-Oct-10 296.95 17-Aug-10 265.65 17-Jun-10 253
16-Dec-10 294 15-Oct-10 298.6 16-Aug-10 269.9 16-Jun-10 255.9
15-Dec-10 298.75 14-Oct-10 299.15 13-Aug-10 265.8 15-Jun-10 260.15
14-Dec-10 298.25 13-Oct-10 303.35 12-Aug-10 266 14-Jun-10 255.45
13-Dec-10 301 12-Oct-10 291.8 11-Aug-10 261.25 11-Jun-10 252.75
10-Dec-10 296 11-Oct-10 294.85 10-Aug-10 260.2 10-Jun-10 252
9-Dec-10 289.1 8-Oct-10 295.8 9-Aug-10 256.05 9-Jun-10 249.55
8-Dec-10 296.4 7-Oct-10 296.35 6-Aug-10 255.05 8-Jun-10 251.4
7-Dec-10 295.75 6-Oct-10 301.15 5-Aug-10 255.3 7-Jun-10 251.05
6-Dec-10 300.3 5-Oct-10 304 4-Aug-10 256.65 4-Jun-10 251.7
3-Dec-10 299.25 4-Oct-10 308.55 3-Aug-10 253.35 3-Jun-10 247.05
2-Dec-10 296.95 1-Oct-10 309.7 2-Aug-10 253.45 2-Jun-10 237.75
1-Dec-10 297.6 30-Sep-10 309.05 30-Jul-10 251.45 1-Jun-10 233.8
30-Nov-10 298.25 29-Sep-10 306 29-Jul-10 256.5 31-May-10 237.2
29-Nov-10 297.8 28-Sep-10 306.2 28-Jul-10 252.35 28-May-10 236.35
26-Nov-10 293.1 27-Sep-10 308.85 27-Jul-10 260.4 27-May-10 233
25-Nov-10 297.2 24-Sep-10 314.95 26-Jul-10 261.95 26-May-10 231.55
24-Nov-10 299.8 23-Sep-10 303.3 23-Jul-10 261.95 25-May-10 230.55
23-Nov-10 300.3 22-Sep-10 298 22-Jul-10 262.3 24-May-10 231.7
22-Nov-10 299.65 21-Sep-10 294.95 21-Jul-10 261.75 21-May-10 230.7
19-Nov-10 299 20-Sep-10 293.2 20-Jul-10 262.65 20-May-10 236.95
18-Nov-10 299.55 17-Sep-10 281.8 19-Jul-10 264.6 19-May-10 233.35
16-Nov-10 298.45 16-Sep-10 278.1 16-Jul-10 266.15 18-May-10 240.05
15-Nov-10 303.7 15-Sep-10 278.05 15-Jul-10 263.35 17-May-10 240.05

25. 12-Nov-10 301.8 14-Sep-10 278.15 14-Jul-10 257.6 14-May-10 233.9
11-Nov-10 309.2 13-Sep-10 279.15 13-Jul-10 259.8 13-May-10 238.2
10-Nov-10 314.75 9-Sep-10 279.05 12-Jul-10 262.15 12-May-10 238.5
9-Nov-10 319 8-Sep-10 274.25 9-Jul-10 262.4 11-May-10 236.85
8-Nov-10 306.65 7-Sep-10 270.65 8-Jul-10 266.45 10-May-10 236.95
5-Nov-10 302.85 6-Sep-10 271.65 7-Jul-10 267.6 7-May-10 234.6
4-Nov-10 299.2 3-Sep-10 272.9 6-Jul-10 267.35 6-May-10 232.15

26. date Close price Date Close price Date Close price Date Close price
5-May-10 228.75 22-Feb-10 246.15 10-Dec-09 273.05 30-Sep-09 262.6
4-May-10 232.35 19-Feb-10 241 9-Dec-09 276.7 29-Sep-09 263.25
3-May-10 233.75 18-Feb-10 242.5 8-Dec-09 277 25-Sep-09 259.5
30-Apr-10 239.8 17-Feb-10 240.55 7-Dec-09 271.75 24-Sep-09 259.95
29-Apr-10 235.6 16-Feb-10 237.15 4-Dec-09 271.95 23-Sep-09 258.45
28-Apr-10 241.95 15-Feb-10 229.75 3-Dec-09 270.65 22-Sep-09 264.65
27-Apr-10 242.65 11-Feb-10 233.4 2-Dec-09 274.8 18-Sep-09 261.65
26-Apr-10 241.5 10-Feb-10 230.1 1-Dec-09 278.65 17-Sep-09 261.2
23-Apr-10 239.1 9-Feb-10 232.6 30-Nov-09 285.2 16-Sep-09 257
22-Apr-10 237.35 8-Feb-10 236.5 27-Nov-09 284.3 15-Sep-09 259.6
21-Apr-10 232.85 6-Feb-10 231 26-Nov-09 286.7 14-Sep-09 259.9
20-Apr-10 227.8 5-Feb-10 229.05 25-Nov-09 284.25 11-Sep-09 256.1
19-Apr-10 224.75 4-Feb-10 231.05 24-Nov-09 279.9 10-Sep-09 262.1
16-Apr-10 227 3-Feb-10 236.45 23-Nov-09 280.85 9-Sep-09 265.45
15-Apr-10 225.45 2-Feb-10 236.5 20-Nov-09 276.6 8-Sep-09 266.25
13-Apr-10 223.55 1-Feb-10 237.25 19-Nov-09 275.5 7-Sep-09 274
12-Apr-10 224.5 29-Jan-10 242.3 18-Nov-09 276.75 4-Sep-09 273.05
9-Apr-10 221.35 28-Jan-10 255.3 17-Nov-09 276.6 3-Sep-09 267.65
8-Apr-10 222.7 27-Jan-10 259.35 16-Nov-09 274.3 2-Sep-09 267.15
7-Apr-10 225 25-Jan-10 263.95 13-Nov-09 269.8 1-Sep-09 262.45
6-Apr-10 229.9 22-Jan-10 257.95 12-Nov-09 264.4 31-Aug-09 259.95
5-Apr-10 229.1 21-Jan-10 256.75 11-Nov-09 265.75 28-Aug-09 260.35
1-Apr-10 230.4 20-Jan-10 257.8 10-Nov-09 263.85 27-Aug-09 256.4
31-Mar-10 239.55 19-Jan-10 255.45 9-Nov-09 271.4 26-Aug-09 263.1
30-Mar-10 241.85 18-Jan-10 257.3 6-Nov-09 272.6 25-Aug-09 269.5
29-Mar-10 239.7 15-Jan-10 256.4 5-Nov-09 279.7 24-Aug-09 268.95
26-Mar-10 238.5 14-Jan-10 256.05 4-Nov-09 277.95 21-Aug-09 260.75
25-Mar-10 232 13-Jan-10 262.5 3-Nov-09 273.1 20-Aug-09 256.6
23-Mar-10 228.5 12-Jan-10 262.15 30-Oct-09 283.5 19-Aug-09 256.9
22-Mar-10 228.25 11-Jan-10 266.1 29-Oct-09 283.1 18-Aug-09 258.6
19-Mar-10 228.95 8-Jan-10 265.95 28-Oct-09 279.8 17-Aug-09 248.4
18-Mar-10 224.85 7-Jan-10 264.8 27-Oct-09 280.4 14-Aug-09 256.9
17-Mar-10 223.9 6-Jan-10 265.35 26-Oct-09 277.85 13-Aug-09 263.4
16-Mar-10 226.7 5-Jan-10 263.85 23-Oct-09 280.65 12-Aug-09 256.75
15-Mar-10 225.55 4-Jan-10 264.7 22-Oct-09 278.3 11-Aug-09 263.15
12-Mar-10 219.4 31-Dec-09 264.8 21-Oct-09 273.65 10-Aug-09 260.65
11-Mar-10 228.8 30-Dec-09 266.1 20-Oct-09 280.25 7-Aug-09 269.6
10-Mar-10 239.75 29-Dec-09 265 17-Oct-09 285.25 6-Aug-09 278.65
9-Mar-10 236.05 24-Dec-09 265.65 16-Oct-09 286.55 5-Aug-09 290.4
8-Mar-10 238.75 23-Dec-09 264.3 15-Oct-09 289.2 4-Aug-09 294
5-Mar-10 243 22-Dec-09 261.3 14-Oct-09 293.85 3-Aug-09 285.1
4-Mar-10 243.45 21-Dec-09 262.1 12-Oct-09 290.6 31-Jul-09 291.5
3-Mar-10 239.1 18-Dec-09 263.35 9-Oct-09 286.9 30-Jul-09 281.4
2-Mar-10 234.45 17-Dec-09 268.8 8-Oct-09 287.45 29-Jul-09 268.35
26-Feb-10 236.2 16-Dec-09 263.8 7-Oct-09 280.2 28-Jul-09 276.65
25-Feb-10 235.2 15-Dec-09 266.35 6-Oct-09 281.75 27-Jul-09 299.65
24-Feb-10 242.15 14-Dec-09 267.55 5-Oct-09 267.05 24-Jul-09 282.65
23-Feb-10 244.9 11-Dec-09 272.95 1-Oct-09 265.4 23-Jul-09 276.75
Date Close price Date close price
22-Jul-09 269.3 29-May-09 230.8
21-Jul-09 269.7 28-May-09 231
20-Jul-09 267 27-May-09 230.15
17-Jul-09 266.75 26-May-09 231
16-Jul-09 266.2 25-May-09 233.05
15-Jul-09 270.55 22-May-09 232
14-Jul-09 269.45 21-May-09 230.4
13-Jul-09 263.85 20-May-09 233.45
10-Jul-09 267.35 19-May-09 229.5
9-Jul-09 265.75 18-May-09 239.6
8-Jul-09 270.3 15-May-09 224.3
7-Jul-09 273.45 14-May-09 224.85

28. DATA COLLECTION OF ITC COMPANY OF
3YEARS:-
Date Close Price date close price date close price
30-Mar-12 226.9 9-Feb-12 203.9 22-Dec-11 203.75
29-Mar-12 224.55 8-Feb-12 204.45 21-Dec-11 202.25
28-Mar-12 226.8 7-Feb-12 205.55 20-Dec-11 199.4
27-Mar-12 226.05 6-Feb-12 202.4 19-Dec-11 197.5
26-Mar-12 222.7 3-Feb-12 200.65 16-Dec-11 195.8
23-Mar-12 222.45 2-Feb-12 199.05 15-Dec-11 199.6
22-Mar-12 219.7 1-Feb-12 201.6 14-Dec-11 199.85
21-Mar-12 223.85 31-Jan-12 203.95 13-Dec-11 197.35
20-Mar-12 223.6 30-Jan-12 200.85 12-Dec-11 196
19-Mar-12 220.5 27-Jan-12 201.8 9-Dec-11 197.15
16-Mar-12 216.15 25-Jan-12 206.05 8-Dec-11 199
15-Mar-12 208.9 24-Jan-12 205.95 7-Dec-11 204.95
14-Mar-12 212.5 23-Jan-12 204.6 5-Dec-11 204.15
13-Mar-12 209.05 20-Jan-12 201.3 2-Dec-11 206.5
12-Mar-12 206.8 19-Jan-12 209.2 1-Dec-11 203.65
9-Mar-12 208.25 18-Jan-12 209.8 30-Nov-11 200.7
7-Mar-12 209.95 17-Jan-12 208.4 29-Nov-11 197.9
6-Mar-12 210.4 16-Jan-12 209.1 28-Nov-11 196.45
5-Mar-12 207 13-Jan-12 207.05 25-Nov-11 192.25
3-Mar-12 205 12-Jan-12 204.95 24-Nov-11 192.3
2-Mar-12 205.25 11-Jan-12 203.3 23-Nov-11 193.3
1-Mar-12 206.85 10-Jan-12 205.15 22-Nov-11 196.2
29-Feb-12 207.65 9-Jan-12 202 21-Nov-11 199.45
28-Feb-12 210.7 7-Jan-12 201.65 18-Nov-11 201.8
27-Feb-12 212.3 6-Jan-12 202.1 17-Nov-11 207.75
24-Feb-12 209.4 5-Jan-12 199.8 16-Nov-11 212.6
23-Feb-12 208.6 4-Jan-12 199.55 15-Nov-11 210.65
22-Feb-12 208.55 3-Jan-12 200.35 14-Nov-11 211.5
21-Feb-12 207.4 2-Jan-12 198.65 11-Nov-11 212.65
17-Feb-12 205.45 30-Dec-11 201.3 9-Nov-11 212
16-Feb-12 203.95 29-Dec-11 200.7 8-Nov-11 210.8
15-Feb-12 203.15 28-Dec-11 202.05 4-Nov-11 210.35
14-Feb-12 202.55 27-Dec-11 205.05 3-Nov-11 210.2
13-Feb-12 202.8 26-Dec-11 204.95 2-Nov-11 209.35
10-Feb-12 203.8 23-Dec-11 204 1-Nov-11 208.3

29. Date close price date close price date close price
2-Nov-11 209.35 16-Aug-11 200.5 2-Jun-11 195.3
1-Nov-11 208.3 12-Aug-11 198 1-Jun-11 193.85
31-Oct-11 213.15 11-Aug-11 198.75 31-May-11 193.35
28-Oct-11 215.5 10-Aug-11 197.1 30-May-11 187.6
26-Oct-11 212.2 9-Aug-11 199.75 27-May-11 188.95
25-Oct-11 211.05 8-Aug-11 195 26-May-11 187
24-Oct-11 206.95 5-Aug-11 196.4 25-May-11 189.1
21-Oct-11 204 4-Aug-11 199.95 24-May-11 186.95
20-Oct-11 205.05 3-Aug-11 206.85 23-May-11 190.2
19-Oct-11 207.1 2-Aug-11 204.75 20-May-11 186.55
18-Oct-11 204.25 1-Aug-11 208.9 19-May-11 189.05
17-Oct-11 205.75 29-Jul-11 208.35 18-May-11 188.95
14-Oct-11 205.2 28-Jul-11 206.25 17-May-11 187.85
13-Oct-11 201.9 27-Jul-11 200.9 16-May-11 186.1
12-Oct-11 204 26-Jul-11 200.9 13-May-11 189
11-Oct-11 199.55 25-Jul-11 205.4 12-May-11 183.8
10-Oct-11 200.1 22-Jul-11 207.4 11-May-11 186.35
7-Oct-11 199.15 21-Jul-11 207.1 10-May-11 185.6
5-Oct-11 194.1 20-Jul-11 205.75 9-May-11 184.45
4-Oct-11 191.65 19-Jul-11 204.1 6-May-11 183.6
3-Oct-11 194.35 18-Jul-11 201.65 5-May-11 182.5
30-Sep-11 198 15-Jul-11 201.75 4-May-11 186.8
29-Sep-11 202.25 14-Jul-11 203 3-May-11 186.85
28-Sep-11 197.1 13-Jul-11 204 2-May-11 191.15
27-Sep-11 193.45 12-Jul-11 201.65 29-Apr-11 192.35
26-Sep-11 188.5 11-Jul-11 202.6 28-Apr-11 191.85
23-Sep-11 191.65 8-Jul-11 200.55 27-Apr-11 193.65
22-Sep-11 190.95 7-Jul-11 203.4 26-Apr-11 191.65
21-Sep-11 197.6 6-Jul-11 196.7 25-Apr-11 190.25
20-Sep-11 198.5 5-Jul-11 195.65 21-Apr-11 190.15
19-Sep-11 195.35 4-Jul-11 198.75 20-Apr-11 190.6
16-Sep-11 197.95 1-Jul-11 201.55 19-Apr-11 187.5
15-Sep-11 199.4 30-Jun-11 202.95 18-Apr-11 190.2
14-Sep-11 199.45 29-Jun-11 199.55 15-Apr-11 191.5
13-Sep-11 197.05 28-Jun-11 193.85 13-Apr-11 190.1
12-Sep-11 196.2 27-Jun-11 193.6 11-Apr-11 185
9-Sep-11 197.65 24-Jun-11 195.1 8-Apr-11 183.75
8-Sep-11 199.15 23-Jun-11 191.45 7-Apr-11 182.55
7-Sep-11 200.05 22-Jun-11 185.2 6-Apr-11 182.95
6-Sep-11 202.8 21-Jun-11 184.85 5-Apr-11 184.2
5-Sep-11 202.75 20-Jun-11 186.45 4-Apr-11 184.85
2-Sep-11 203.25 17-Jun-11 191.75 1-Apr-11 182.5
30-Aug-11 200 16-Jun-11 194 31-Mar-11 182.1
29-Aug-11 201.95 15-Jun-11 194.15 30-Mar-11 177.6
26-Aug-11 196.85 14-Jun-11 193.85 29-Mar-11 179.25
25-Aug-11 202.35 13-Jun-11 190.9 28-Mar-11 178.7
24-Aug-11 201.95 10-Jun-11 191.65 25-Mar-11 177.45
23-Aug-11 203.2 9-Jun-11 195 24-Mar-11 173

30. 22-Aug-11 202 8-Jun-11 194.95 23-Mar-11 171.95
19-Aug-11 199.2 7-Jun-11 193.55 22-Mar-11 170.05
18-Aug-11 203.85 6-Jun-11 192.8 21-Mar-11 167.9
17-Aug-11 204.25 3-Jun-11 193.45 18-Mar-11 167.95
17-Mar-11 168.05 25-Jan-11 168 6-Dec-10 169.05
16-Mar-11 171.2 24-Jan-11 169.1 3-Dec-10 171.3
15-Mar-11 170.1 21-Jan-11 168.9 2-Dec-10 170.9
14-Mar-11 173.45 20-Jan-11 171.65 1-Dec-10 171.4
11-Mar-11 171.35 19-Jan-11 175.45 30-Nov-10 171.9
10-Mar-11 171.3 18-Jan-11 176.15 29-Nov-10 168.6
9-Mar-11 171.75 17-Jan-11 171.95 26-Nov-10 167.65
8-Mar-11 171.95 14-Jan-11 170.55 25-Nov-10 169.7
7-Mar-11 172.65 13-Jan-11 173.15 24-Nov-10 173.7
4-Mar-11 172.4 12-Jan-11 173.75 23-Nov-10 172.5
3-Mar-11 173.55 11-Jan-11 170.1 22-Nov-10 175.9
1-Mar-11 173.6 10-Jan-11 170.6 19-Nov-10 170.95
28-Feb-11 169 7-Jan-11 172.5 18-Nov-10 171.95
25-Feb-11 156.3 6-Jan-11 178.9 16-Nov-10 169.95
24-Feb-11 150.65 5-Jan-11 179.8 15-Nov-10 175.15
23-Feb-11 155.6 4-Jan-11 177.5 12-Nov-10 173.85
22-Feb-11 156.7 3-Jan-11 174.8 11-Nov-10 175.35
21-Feb-11 158.2 31-Dec-10 174.65 10-Nov-10 177
18-Feb-11 155.75 30-Dec-10 174.55 9-Nov-10 177.8
17-Feb-11 158.45 29-Dec-10 174.2 8-Nov-10 175.65
16-Feb-11 156.9 28-Dec-10 171.2 5-Nov-10 177.15
15-Feb-11 157.1 27-Dec-10 169.75 4-Nov-10 177
14-Feb-11 157.5 24-Dec-10 169.9 3-Nov-10 175.55
11-Feb-11 155.1 23-Dec-10 166.9 2-Nov-10 173.4
10-Feb-11 156.15 22-Dec-10 167.4 1-Nov-10 171.85
9-Feb-11 153.9 21-Dec-10 167.15 29-Oct-10 171.2
8-Feb-11 156.1 20-Dec-10 166.95 28-Oct-10 167.05
7-Feb-11 157.1 16-Dec-10 168.05 27-Oct-10 167.85
4-Feb-11 153 15-Dec-10 167 26-Oct-10 171.75
3-Feb-11 159.45 14-Dec-10 168.4 25-Oct-10 169.15
2-Feb-11 159 13-Dec-10 167.15 22-Oct-10 171.2
1-Feb-11 159.6 10-Dec-10 170.3 21-Oct-10 174.35
31-Jan-11 162.6 9-Dec-10 167.3 20-Oct-10 168
28-Jan-11 168.15 8-Dec-10 166.75 19-Oct-10 170.5
27-Jan-11 167.8 7-Dec-10 168.2 18-Oct-10 171.55
19-Oct-10 170.5 6-Oct-10 172.9 23-Sep-10 176.5
18-Oct-10 171.55 5-Oct-10 173.8 22-Sep-10 174.7
15-Oct-10 171.95 4-Oct-10 175.25 21-Sep-10 172.65
14-Oct-10 175.05 1-Oct-10 178.65 20-Sep-10 176.65
13-Oct-10 175.1 30-Sep-10 178.3 17-Sep-10 168.35
12-Oct-10 170.95 29-Sep-10 173.6 16-Sep-10 167.4
11-Oct-10 172.95 28-Sep-10 178.4 15-Sep-10 167.65
8-Oct-10 172.45 27-Sep-10 178.4 14-Sep-10 165.2
7-Oct-10 171.9 24-Sep-10 179.25 13-Sep-10 163.2

31. 9-Sep-10 162.35 15-Jul-10 300.1 20-May-10 262.4
8-Sep-10 164.3 14-Jul-10 298.5 19-May-10 259.2
7-Sep-10 166.2 13-Jul-10 299.1 18-May-10 268.65
6-Sep-10 165.8 12-Jul-10 299.95 17-May-10 266.15
3-Sep-10 164 9-Jul-10 300.35 14-May-10 268.15
2-Sep-10 165.45 8-Jul-10 303.15 13-May-10 266.5
1-Sep-10 163.15 7-Jul-10 302 12-May-10 265.05
31-Aug-10 163.15 6-Jul-10 302.9 11-May-10 259.55
30-Aug-10 159.3 5-Jul-10 302.15 10-May-10 261.8
27-Aug-10 161.2 2-Jul-10 302.55 7-May-10 259.15
26-Aug-10 163.9 1-Jul-10 303 6-May-10 259.05
25-Aug-10 160.5 30-Jun-10 305.45 5-May-10 262.15
24-Aug-10 159.85 29-Jun-10 296.35 4-May-10 262.3
23-Aug-10 159.5 28-Jun-10 297.65 3-May-10 264.95
20-Aug-10 162.7 25-Jun-10 301.45 30-Apr-10 265.85
19-Aug-10 165.3 24-Jun-10 305.75 29-Apr-10 267.15
18-Aug-10 162.5 23-Jun-10 302.85 28-Apr-10 269.95
17-Aug-10 159.55 22-Jun-10 301.8 27-Apr-10 269.55
16-Aug-10 158.25 21-Jun-10 299.1 26-Apr-10 267.4
13-Aug-10 156.25 18-Jun-10 294.9 23-Apr-10 266.95
12-Aug-10 152.95 17-Jun-10 293.9 22-Apr-10 264.25
11-Aug-10 154.95 16-Jun-10 290.9 21-Apr-10 262.45
10-Aug-10 157.25 15-Jun-10 291.7 20-Apr-10 263.2
9-Aug-10 158.95 14-Jun-10 286.1 19-Apr-10 264.85
6-Aug-10 158.75 11-Jun-10 281.55 16-Apr-10 269.1
5-Aug-10 155.8 10-Jun-10 280.05 15-Apr-10 262.75
4-Aug-10 155.3 9-Jun-10 277.6 13-Apr-10 268.6
3-Aug-10 154.4 8-Jun-10 289.7 12-Apr-10 271.4
2-Aug-10 312.8 7-Jun-10 287.7 9-Apr-10 269.25
30-Jul-10 308.75 4-Jun-10 290.85 8-Apr-10 267.75
29-Jul-10 310.1 3-Jun-10 285.5 7-Apr-10 269.45
28-Jul-10 307.35 2-Jun-10 281.3 6-Apr-10 266.25
27-Jul-10 304.25 1-Jun-10 283 5-Apr-10 264.8
26-Jul-10 302.7 31-May-10 283.2 1-Apr-10 264
23-Jul-10 301.65 28-May-10 283.2 31-Mar-10 263.05
22-Jul-10 297.7 27-May-10 275.9 30-Mar-10 268.85
21-Jul-10 292.35 26-May-10 269.1 29-Mar-10 269.2
20-Jul-10 291.45 25-May-10 260.5 26-Mar-10 264.4
19-Jul-10 291.35 24-May-10 268.05 25-Mar-10 264.75
16-Jul-10 298.35 21-May-10 271.3 23-Mar-10 260.95

32. date close price date close price date close price

33. 22-Mar-10 261.6 8-Jan-10 256.5 27-Oct-09 260.6
19-Mar-10 261.3 7-Jan-10 255.95 26-Oct-09 264.7
18-Mar-10 261.25 6-Jan-10 256.75 23-Oct-09 260.2
17-Mar-10 262.85 5-Jan-10 256.15 22-Oct-09 247.85
16-Mar-10 259.8 4-Jan-10 253.65 21-Oct-09 243.7
15-Mar-10 259.35 31-Dec-09 250.8 20-Oct-09 250.45
12-Mar-10 258.45 30-Dec-09 250.7 17-Oct-09 250.5
11-Mar-10 255.65 29-Dec-09 256.2 16-Oct-09 252.4
10-Mar-10 254.25 24-Dec-09 255.85 15-Oct-09 256.4
9-Mar-10 251.05 23-Dec-09 253.6 14-Oct-09 258.7
8-Mar-10 251.25 22-Dec-09 246.25 12-Oct-09 258.35
5-Mar-10 244.75 21-Dec-09 244.8 9-Oct-09 249.65
4-Mar-10 246.05 18-Dec-09 247 8-Oct-09 250.75
3-Mar-10 243.7 17-Dec-09 249.25 7-Oct-09 244.95
2-Mar-10 241.95 16-Dec-09 249.4 6-Oct-09 247.55
26-Feb-10 232.25 15-Dec-09 251.45 5-Oct-09 238.55
25-Feb-10 247.6 14-Dec-09 250.7 1-Oct-09 232.55
24-Feb-10 247.65 11-Dec-09 252.75 30-Sep-09 233.05
23-Feb-10 249.25 10-Dec-09 254.2 29-Sep-09 234.25
22-Feb-10 247.6 9-Dec-09 256.55 25-Sep-09 235
19-Feb-10 248.5 8-Dec-09 258.6 24-Sep-09 232.55
18-Feb-10 248.25 7-Dec-09 254.8 23-Sep-09 230.5
17-Feb-10 251.75 4-Dec-09 256.7 22-Sep-09 233.35
16-Feb-10 250.15 3-Dec-09 255.45 18-Sep-09 226.9
15-Feb-10 249.35 2-Dec-09 257 17-Sep-09 228.8
11-Feb-10 247.15 1-Dec-09 258.05 16-Sep-09 231.05
10-Feb-10 243.9 30-Nov-09 257.1 15-Sep-09 229.05
9-Feb-10 243.9 27-Nov-09 256.3 14-Sep-09 223.9
8-Feb-10 245.35 26-Nov-09 261.3 11-Sep-09 227.1
6-Feb-10 248.05 25-Nov-09 268.9 10-Sep-09 229.05
5-Feb-10 248.35 24-Nov-09 263.8 9-Sep-09 227
4-Feb-10 253.35 23-Nov-09 268.8 8-Sep-09 228.65
3-Feb-10 252.6 20-Nov-09 259.9 7-Sep-09 231.05
2-Feb-10 244.4 19-Nov-09 256.65 4-Sep-09 233.25
1-Feb-10 246.5 18-Nov-09 258.75 3-Sep-09 226.8
29-Jan-10 250.15 17-Nov-09 254.65 2-Sep-09 228.05
28-Jan-10 254.25 16-Nov-09 255.6 1-Sep-09 230.15
27-Jan-10 255.9 13-Nov-09 254.5
25-Jan-10 255.1 12-Nov-09 252.95
22-Jan-10 249.1 11-Nov-09 256.85
21-Jan-10 244.5 10-Nov-09 257.45
20-Jan-10 247.1 9-Nov-09 259.05
19-Jan-10 249.9 6-Nov-09 248.85
18-Jan-10 250.55 5-Nov-09 252.15
15-Jan-10 252.75 4-Nov-09 254.6
14-Jan-10 248.15 3-Nov-09 248.55
13-Jan-10 248.95 30-Oct-09 254.8
12-Jan-10 250.05 29-Oct-09 259.3
11-Jan-10 256.6 28-Oct-09 259.1

34. DATA ANALYSIS HUL OF DIVIDEND DECISION
POLICY:-
Dividend Payment Dates:-
YEAR DIVIDEND TYPE
DIVIDEND RATE
PER SHARE
DATE OF
PAYMENT
2011-12 56 I INTERIM 3.5 22-Nov-11
2010-11
55 F FINAL 3.5 1-Aug-11
55 I INTERIM 3 15-Nov-10
2009-10
54 F FINAL 3.5 30-Jul-10
54 I INTERIM 3 23-Nov-09
2008-09
53 F FINAL 4 6-Jul-09
53 I INTERIM 3.5 18-Aug-08

35. ANALYSIS OF HUL SHAREPICE
360
365
370
375
380
385
390
395
400
405
11/22/2011
11/29/2011
12/6/2011
12/13/2011
12/20/2011
date
closeprice
Series1
ANALYSIS OF DATA 22 NOV TO22DEC 2011:-

36. ANALYSIS OF HUL SHAREPICE
300
305
310
315
320
325
330
335
8/1/2011
8/8/2011
8/15/2011
8/22/2011
8/29/2011
date
closeprice
Series1
ANALYSIS OF DATA 1AUG TO 1SEP 2011:-

37. ANALYSIS OF HUL SHAREPICE
280
285
290
295
300
305
310
11/15/201011/22/201011/29/2010
12/6/201012/13/2010
date
closeprice
Series1
ANALYSIS OF DATA 15NOV TO 15DEC 2010:-

38. ANALYSIS OF HUL SHAREPICE
235
240
245
250
255
260
265
270
275
280
7/30/2010
8/6/2010
8/13/2010
8/20/2010
8/27/2010
date
closeprice
Series1
ANALYSIS OF DATA 30 JULTO 30AUG 2010:-

39. ANALYSIS OF HUL SHAREPICE
245
250
255
260
265
270
275
280
285
290
11/23/200911/30/2009
12/7/200912/14/200912/21/2009
date
closeprice
Series1
ANALYSIS OF DATA 23 NOV TO 23 DEC
2009:-

40. DATA ANALYSIS OF ITC DIVIDEND
DECISION POLICY:-
Dividend payment dates:-
YEAR
TOTAL DIVIDEND
(RS.IN LACK) TYPE
DIVIDEND
RATE PER
SHARE
DATE OF
PAYMENT
2011-12 4,72,20 INTERIM 34 11-Nov-11
2010-11
4,71,18 FINAL 34 1-Sep-11
4,35,16 INTERIM 38 9-Jul-10
2009-10
4,32,11 FINAL 38 30-Jul-10
3,45,41 INTERIM 36 23-Oct-09
2008-09
3,42,39 FINAL 36 8-Nov-09
2,34,98 INTERIM 35 18-Aug-08
ANALYSIS OF DATA 11 NOV-11DEC-2011:-

41. ANALYSIS OF ITC SHARE PRICE
180
185
190
195
200
205
210
215
11/11/2011
11/18/2011
11/25/2011
12/2/2011
12/9/2011
date
closeprice
Series1

42. ANALYSIS OF ITC SHARE PRICE
180
185
190
195
200
205
9/2/2011
9/9/2011
9/16/2011
9/23/2011
9/30/2011
date
closeprice
Series1
ANALYSIS OF DATA 1SEP-1OCT-2011:-

43. ANALYSIS OF ITC SHARE PRICE
0
50
100
150
200
250
300
350
7/9/2010
7/16/2010
7/23/2010
7/30/2010
8/6/2010
date
closeprice
Series1
ANALYSIS OF DATA 9-JUL-9AUG 2010:-

44. ANALYSIS OF ITC SHARE PRICE
0
50
100
150
200
250
300
350
7/30/2010
8/6/2010
8/13/2010
8/20/2010
8/27/2010
date
closeprice
Series1
ANALYSIS OF DATA 30-JUL-30AUG 2010:-
ANALYSIS OF DATA 23-OCT-23NOV 2009:-

45. ANALYSIS OF ITC SHARE PRICE
235
240
245
250
255
260
265
270
275
10/23/200910/30/2009
11/6/200911/13/200911/20/2009date
closeprice
Series1
ANALYSIS OF DATA 8NOV-8DEC 2009:-

46. ANALYSIS OF ITC SHARE PRICE
240
245
250
255
260
265
270
275
11/9/2009
11/16/2009
11/23/2009
11/30/2009
12/7/2009date
closeprice
Series1
DIVIDEND DECISION OF DATA FINDING:-