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Median = 13.

BSE Sensex : I year Forward PE Multiple

25.0x

23.0x

21.0x

19.0x

17.0x

15.0x

13.0x

11.0x

9.0x

7.0x
98

03

05
1

06

9
-9

-0

-0
-0

-0
-

p-
ul

ul
ep

eb

eb
pr

pr
ec

Se
-J

-J
-A

-A
-S

-D
F

F
12

10
9-

8-

8-
10

22
10

12

FY10 FY11 FY12 FY13 Avg 10-11 Avg 11-12 Avg 12-13
Ideal Entry 12714 14352 15795 18164 13533 15074 16980
12.5x 12225 13800 15188 17466 13013 14494 16327
13.5x 13203 14904 16403 18863 14054 15653 17633
Ideal Exit 16137 18216 20048 23055 17177 19132 21551
16x 15648 17664 19440 22356 16656 18552 20898
17x 16626 18768 20655 23753 17697 19712 22204

CMP Up-6 mth Up- 12 mth Up-18 mth Up-24 mth Up-30 mth Up-36 mth
15850 2% 8% 15% 21% 26% 36%
CMP Dn-6 mth Dn- 12 mth Dn-18 mth Dn-24 mth Dn-24 mth Dn-24 mth
15850 -20% -15% -9% -5% 0% 7%
FY09 FY10 E FY11 E FY12 E FY13 E FY14 E

EPS growth 1% 16% 24% 14% 18% 15%


EPS (LHS)
Y-o-Y % chg (RHS)
FY99 265.0 Sensex EPS growth trend
FY00 319.0 20%
1400.0 40%
FY01 291.0 -9%
1200.0 30%
FY02 308.0 6%
1000.0 20%
FY03 284.0 -8%
800.0
FY04 373.0 31% 10%
600.0
FY05 456.0 22% 0%
400.0
FY06 547.0 20%
200.0 -10
FY07 720.0 32%
1.24 0.0 -20
FY08 833.0 16%

FY99
FY00
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09E
FY10E
FY11E
FY12E
FY09E 843.0 1%
FY10E 978.0 16%
FY11E 1104.0 13%
EPS (LHS) Y-o-Y % chg
FY12E 1215.0 10%
(RHS)
FY13E 1397.3 15%
FY14E 1606.8 15% 1.14
FY15E 1847.9 15%

GDP Growth
FY01 4.4 GDP growth trend
FY02 5.8
12.0
FY03 3.8
FY04 8.5 10.0 9.5 9.7
9.0
FY05 7.5 8.5
8.0
FY06 9.5 8.0 7.5 7
6.7 6.5
FY07 9.7 5.8
FY08 9.0 9.0 6.0
4.4
FY09E 6.7 8.8 3.8
4.0
FY10E 6.5
FY11E 8.0 2.0
FY12E 7.5
FY13E 7.5 0.0
FY01

FY02

FY03

FY04

FY05

FY06

FY07

FY08

FY09E

FY10E

FY11E
FY14E 7.5
FY15E 7.5

GDP Growth
Sensex
(LHS)
EPS growth (RHS)
GDP Growth & Sensex EPS growth trend
FY01 4.4% -9%
12.0% 40%
FY02 5.8% 6%
FY03 3.8% -8% 10.0% 30%
FY04 8.5% 31% 8.0% 20%
FY05 7.5% 22% 6.0% 10%
FY06 9.5% 20%
4.0% 0%
FY07 9.7% 32%
FY08 9.0% 37% 2.0% -10%
FY09E 6.7% -14% 0.0% -20%
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08

FY15E
FY09E
FY10E
FY11E
FY12E
FY13E
FY14E

FY10E 6.5% 10%

GDP Growth Sensex EPS


(LHS) growth (RHS)
6.0% 10%
4.0% 0%
2.0% -10%
0.0% -20%

FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08

FY15E
FY09E
FY10E
FY11E
FY12E
FY13E
FY14E
FY11E 8.0% 20%
FY12E 7.5% 15%
FY13E 7.5% 15% GDP Growth Sensex EPS
FY14E 7.5% 15% (LHS) growth (RHS)
FY15E 7.5% 15%

8160
15009
6849
0.84

17.08
PS growth trend
40%
30%
20%
10%
0%
-10%
-20%
FY05
FY06
FY07
FY08
FY09E
FY10E
FY11E
FY12E

S) Y-o-Y % chg
(RHS)

growth trend

9.5 9.7
9.0
8.0
7.5
6.7 6.5
9 28
7.5 23
FY06

FY07

FY08

FY09E

FY10E

FY11E

FY12E

sex EPS growth trend


40%
30%
20%
10%
0%
-10%
-20%
FY08

FY15E
FY09E
FY10E
FY11E
FY12E
FY13E
FY14E

Sensex EPS
growth (RHS)
FY08
FY09E
FY10E
FY11E

Sensex EPS
growth (RHS)
FY12E
FY13E
FY14E
FY15E
0%
10%

-20%
-10%
Median = 11.8
Rolling EPS

Sensex Levels Vs. PE


23.0 22000
21.0
17000
19.0
17.0 12000
15.0
13.0 7000

11.0
2000
9.0
7.0 -3000
16-Jul-99
10-Apr-98
11-Sep-98
12-Feb-99

17-Dec-99

20-Oct-00
23-Mar-01
24-Aug-01
25-Jan-02
28-Jun-02

3-Oct-03

15-Jul-04

20-May-05
21-Oct-05
24-Mar-06

12-Jan-07
15-Jun-07

18-Apr-08
19-May-00

28-Nov-02
1-May-03

5-Mar-04

17-Dec-04

11-Aug-06

16-Nov-07

19-Sep-08
1 Yr forward Sensex

FY08 FY09 FY10 Avg 08-09 Avg 09-10


Ideal Entry 11956 13390 16068 12673 14729
13x 11513 12894 15473 12204 14184
14x 12398 13886 16663 13142 15275
Ideal Exit 14612 16366 19639 15489 18002
16x 14170 15870 19044 15020 17457
17x 15055 16862 20234 15959 18548

CMP Up-6 mth Up- 12 mth Up-18 mth Up-24 mth


14300 8% 14% 26% 37%
CMP Dn-6 mth Dn- 12 mth Dn-18 mth Dn-24 mth
14300 -11% -6% 3% 12%

FY2009 FY2010 FY2011 1027 1192 1382

EPS growth 16 16 16 885.6 1001 1201 1381 1.16


Year Closing level EPS Growth (%) P/E Risk Free Rate
(1 Yr fwd) (10 YR GSEC YTM)
3/31/1999 3739.96 13.4 12.2
3/31/2000 5001.28 280 23.2 11.4
3/30/2001 3604.38 216 -23% 15.3 10.9
3/27/2002 3469.35 236 9% 12.8 8.8
3/31/2003 3048.72 272 15% 8.8 6.9
3/31/2004 5590.6 348 28% 12.4 5.4
3/31/2005 6492.82 450 29% 12.4 6.2
3/31/2006 11279.96 523 16% 15.7 7.1
3/30/2007 13072.1 718 37% 15.7 7.8
3/31/2008 15644.44 833 16% 18.6 7.9
3/31/2009 9708.5 843 1% 9.9 7.6
3/31/2010 978 16% 6.9
3/31/2011 1104 13%
3/31/2012 1215 10%

Valuations at previous bottoms


Period Sensex Values P/E
Apr-93 1980 27
Sep-01 2595 15
Apr-03 2905 12
May-04 4228 15
Valuations at previous peaks
Period Sensex Values P/E
Apr-92 4546 53
Sep-94 4643 46
Feb-00 6151 27
Feb-06 9900 18
Jan-08 21207 25
Peak P/E Trough P/E Current 1 Yr % gap between ROE (%)
Five years Five years forward P/E peak P/E and current P/E

Developed Economies
1 Dow Jones 21.9 10.9 16.9 29.1 8.5
2 S & P 500 21.0 9.9 17.9 17.4 8.9

BRIC Nations
4 Brazil - Bovespa 25.5 6.6 16.8 51.9 12.3
5 Russia - RTS Index 21.9 2.6 13.3 64.6 10.2
6 India - Sensex 25.0 8.1 19.8 26.4 14.9

7 Shanghai SE Composite 52.3 12.6 23.0 127.2 13.4


2) Superior ROE of India to drive higher earni

Developed Economies
Dow Jones
S & P 500
Highest ROE ensures the highest earnings growth, thus FTSE
deserves higher P/E than others
BRIC Nations
Brazil - Bovespa
Russia - RTS Index
India - BSE Sensex
Shanghai SE Composite
r ROE of India to drive higher earnings growth compared to peers
ROE (%) (CY09E/FY10E)

8.5
8.9
11.8

12.3
10.2
14.9 Highest ROE to drive the highest earnings growth, hence higher P/E
13.4
Peak P/E Current 1 Yr Percentage gap between
Five years forward P/E peak P/E and current P/E
Developed Economies
Dow Jones 21.9 16.9 (22.6) 100
S & P 500 21.0 17.9 (14.8)
FTSE 96.0 15.0 (84.4)

BRIC Nations
Brazil - Bovespa 25.5 16.8 (34.2)
Russia - RTS Index 21.9 13.3 (39.2)
India - Sensex 25.0 16.2 (35.3)
Shanghai SE Composite 52.3 23.0 (56.0)
85

15
0.15
15
Deven Motilal 9920477432
FY99 12.184 FY00
Year Avg 10 Year G-Sec Date 10 Yr G-Sec Date
FY99 12.2 26-Nov-98 12.213 1-Apr-99
FY00 11.4 26-Nov-98 12.219 2-Apr-99
FY01 10.9 27-Nov-98 12.229 5-Apr-99
FY02 8.8 30-Nov-98 12.225 6-Apr-99
FY03 6.9 1-Dec-98 12.225 7-Apr-99
FY04 5.4 2-Dec-98 12.223 8-Apr-99
FY05 6.2 3-Dec-98 12.223 9-Apr-99
FY06 7.1 4-Dec-98 12.223 12-Apr-99
FY07 7.8 7-Dec-98 12.223 13-Apr-99
FY08 7.9 8-Dec-98 12.230 14-Apr-99
FY09 7.6 9-Dec-98 12.220 15-Apr-99
FY10 YTD 6.9 10-Dec-98 12.220 16-Apr-99
11-Dec-98 12.220 19-Apr-99
Please Note Daily Data for G-Sec is available from Nov 98 only. 14-Dec-98 12.217 20-Apr-99
15-Dec-98 12.217 21-Apr-99
16-Dec-98 12.217 22-Apr-99
17-Dec-98 12.217 23-Apr-99
18-Dec-98 12.217 26-Apr-99
21-Dec-98 12.217 27-Apr-99
22-Dec-98 12.226 28-Apr-99
23-Dec-98 12.226 29-Apr-99
24-Dec-98 12.226 30-Apr-99
25-Dec-98 12.226 3-May-99
28-Dec-98 12.226 4-May-99
29-Dec-98 12.226 5-May-99
30-Dec-98 12.215 6-May-99
31-Dec-98 12.215 7-May-99
1-Jan-99 12.215 10-May-99
4-Jan-99 12.215 11-May-99
5-Jan-99 12.215 12-May-99
6-Jan-99 12.215 13-May-99
7-Jan-99 12.215 14-May-99
8-Jan-99 12.215 17-May-99
11-Jan-99 12.214 18-May-99
12-Jan-99 12.214 19-May-99
13-Jan-99 12.214 20-May-99
14-Jan-99 12.214 21-May-99
15-Jan-99 12.214 24-May-99
18-Jan-99 12.214 25-May-99
19-Jan-99 12.214 26-May-99
20-Jan-99 12.213 27-May-99
21-Jan-99 12.213 28-May-99
22-Jan-99 12.213 31-May-99
25-Jan-99 12.213 1-Jun-99
26-Jan-99 12.213 2-Jun-99
27-Jan-99 12.213 3-Jun-99
28-Jan-99 12.182 4-Jun-99
29-Jan-99 12.182 7-Jun-99
1-Feb-99 12.223 8-Jun-99
2-Feb-99 12.222 9-Jun-99
3-Feb-99 12.212 10-Jun-99
4-Feb-99 12.212 11-Jun-99
5-Feb-99 12.243 14-Jun-99
8-Feb-99 12.222 15-Jun-99
9-Feb-99 12.232 16-Jun-99
10-Feb-99 12.212 17-Jun-99
11-Feb-99 12.212 18-Jun-99
12-Feb-99 12.212 21-Jun-99
15-Feb-99 12.222 22-Jun-99
16-Feb-99 12.222 23-Jun-99
17-Feb-99 12.231 24-Jun-99
18-Feb-99 12.221 25-Jun-99
19-Feb-99 12.221 28-Jun-99
22-Feb-99 12.231 29-Jun-99
23-Feb-99 12.231 30-Jun-99
24-Feb-99 12.231 1-Jul-99
25-Feb-99 12.260 2-Jul-99
26-Feb-99 12.260 5-Jul-99
1-Mar-99 12.260 6-Jul-99
2-Mar-99 12.259 7-Jul-99
3-Mar-99 12.110 8-Jul-99
4-Mar-99 12.110 9-Jul-99
5-Mar-99 12.089 12-Jul-99
8-Mar-99 12.080 13-Jul-99
9-Mar-99 11.989 14-Jul-99
10-Mar-99 12.009 15-Jul-99
11-Mar-99 12.050 16-Jul-99
12-Mar-99 12.050 19-Jul-99
15-Mar-99 12.070 20-Jul-99
16-Mar-99 12.070 21-Jul-99
17-Mar-99 12.070 22-Jul-99
18-Mar-99 12.069 23-Jul-99
19-Mar-99 12.059 26-Jul-99
22-Mar-99 12.049 27-Jul-99
23-Mar-99 12.049 28-Jul-99
24-Mar-99 12.049 29-Jul-99
25-Mar-99 12.049 30-Jul-99
26-Mar-99 12.059 2-Aug-99
29-Mar-99 12.059 3-Aug-99
30-Mar-99 12.059 4-Aug-99
31-Mar-99 12.069 5-Aug-99
6-Aug-99
9-Aug-99
10-Aug-99
11-Aug-99
12-Aug-99
13-Aug-99
16-Aug-99
17-Aug-99
18-Aug-99
19-Aug-99
20-Aug-99
23-Aug-99
24-Aug-99
25-Aug-99
26-Aug-99
27-Aug-99
30-Aug-99
31-Aug-99
1-Sep-99
2-Sep-99
3-Sep-99
6-Sep-99
7-Sep-99
8-Sep-99
9-Sep-99
10-Sep-99
13-Sep-99
14-Sep-99
15-Sep-99
16-Sep-99
17-Sep-99
20-Sep-99
21-Sep-99
22-Sep-99
23-Sep-99
24-Sep-99
27-Sep-99
28-Sep-99
29-Sep-99
30-Sep-99
1-Oct-99
4-Oct-99
5-Oct-99
6-Oct-99
7-Oct-99
8-Oct-99
11-Oct-99
12-Oct-99
13-Oct-99
14-Oct-99
15-Oct-99
18-Oct-99
19-Oct-99
20-Oct-99
21-Oct-99
22-Oct-99
25-Oct-99
26-Oct-99
27-Oct-99
28-Oct-99
29-Oct-99
1-Nov-99
2-Nov-99
3-Nov-99
4-Nov-99
5-Nov-99
8-Nov-99
9-Nov-99
10-Nov-99
11-Nov-99
12-Nov-99
15-Nov-99
16-Nov-99
17-Nov-99
18-Nov-99
19-Nov-99
22-Nov-99
23-Nov-99
24-Nov-99
25-Nov-99
26-Nov-99
29-Nov-99
30-Nov-99
1-Dec-99
2-Dec-99
3-Dec-99
6-Dec-99
7-Dec-99
8-Dec-99
9-Dec-99
10-Dec-99
13-Dec-99
14-Dec-99
15-Dec-99
16-Dec-99
17-Dec-99
20-Dec-99
21-Dec-99
22-Dec-99
23-Dec-99
24-Dec-99
27-Dec-99
28-Dec-99
29-Dec-99
30-Dec-99
31-Dec-99
3-Jan-00
4-Jan-00
5-Jan-00
6-Jan-00
7-Jan-00
10-Jan-00
11-Jan-00
12-Jan-00
13-Jan-00
14-Jan-00
17-Jan-00
18-Jan-00
19-Jan-00
20-Jan-00
21-Jan-00
24-Jan-00
25-Jan-00
26-Jan-00
27-Jan-00
28-Jan-00
31-Jan-00
1-Feb-00
2-Feb-00
3-Feb-00
4-Feb-00
7-Feb-00
8-Feb-00
9-Feb-00
10-Feb-00
11-Feb-00
14-Feb-00
15-Feb-00
16-Feb-00
17-Feb-00
18-Feb-00
21-Feb-00
22-Feb-00
23-Feb-00
24-Feb-00
25-Feb-00
28-Feb-00
29-Feb-00
1-Mar-00
2-Mar-00
3-Mar-00
6-Mar-00
7-Mar-00
8-Mar-00
9-Mar-00
10-Mar-00
13-Mar-00
14-Mar-00
15-Mar-00
16-Mar-00
17-Mar-00
20-Mar-00
21-Mar-00
22-Mar-00
23-Mar-00
24-Mar-00
27-Mar-00
28-Mar-00
29-Mar-00
30-Mar-00
31-Mar-00
11.417 FY01 10.902 FY02 8.847 FY03 6.894 FY04 5.416
10 Yr G-Sec Date 10 Yr G-Sec Date 10 Yr G-Sec Date 10 Yr G-Sec Date 10 Yr G-Sec
12.069 3-Apr-00 10.356 2-Apr-01 10.120 1-Apr-02 7.432 1-Apr-03 6.096
12.068 4-Apr-00 10.357 3-Apr-01 10.160 2-Apr-02 7.237 2-Apr-03 6.083
11.998 5-Apr-00 10.357 4-Apr-01 10.160 3-Apr-02 7.236 3-Apr-03 5.990
11.998 6-Apr-00 10.397 5-Apr-01 10.160 4-Apr-02 7.133 4-Apr-03 5.973
11.967 7-Apr-00 10.370 6-Apr-01 10.160 5-Apr-02 7.148 5-Apr-03 5.977
11.926 10-Apr-00 10.292 9-Apr-01 10.060 6-Apr-02 7.132 7-Apr-03 5.966
11.967 11-Apr-00 10.222 10-Apr-01 10.070 8-Apr-02 7.182 8-Apr-03 5.952
11.938 12-Apr-00 10.222 11-Apr-01 10.100 9-Apr-02 7.186 9-Apr-03 5.904
11.937 13-Apr-00 10.226 12-Apr-01 10.100 10-Apr-02 7.318 10-Apr-03 5.871
11.937 14-Apr-00 10.227 13-Apr-01 10.100 11-Apr-02 7.257 12-Apr-03 5.869
11.947 17-Apr-00 10.255 16-Apr-01 10.110 12-Apr-02 7.272 16-Apr-03 5.872
11.947 18-Apr-00 10.271 17-Apr-01 10.100 13-Apr-02 7.257 17-Apr-03 5.867
11.947 19-Apr-00 10.259 18-Apr-01 10.070 15-Apr-02 7.306 19-Apr-03 5.865
11.936 20-Apr-00 10.259 19-Apr-01 10.070 16-Apr-02 7.281 21-Apr-03 5.861
11.936 21-Apr-00 10.259 20-Apr-01 10.070 17-Apr-02 7.294 22-Apr-03 5.885
11.936 24-Apr-00 10.352 23-Apr-01 10.220 18-Apr-02 7.300 23-Apr-03 5.892
11.936 25-Apr-00 10.403 24-Apr-01 10.220 19-Apr-02 7.315 24-Apr-03 5.893
11.935 26-Apr-00 10.366 25-Apr-01 10.160 20-Apr-02 7.300 25-Apr-03 5.898
11.935 27-Apr-00 10.373 26-Apr-01 10.110 22-Apr-02 7.349 26-Apr-03 5.892
11.925 28-Apr-00 10.357 27-Apr-01 10.110 23-Apr-02 7.309 28-Apr-03 5.894
11.905 1-May-00 10.366 1-May-01 10.130 24-Apr-02 7.288 29-Apr-03 5.943
11.904 2-May-00 10.442 2-May-01 10.110 25-Apr-02 7.287 30-Apr-03 5.892
11.884 3-May-00 10.462 3-May-01 10.100 26-Apr-02 7.295 2-May-03 5.949
11.863 4-May-00 10.466 4-May-01 10.080 27-Apr-02 7.287 3-May-03 5.959
11.863 5-May-00 10.465 5-May-01 10.080 29-Apr-02 7.332 5-May-03 5.935
11.863 8-May-00 10.469 7-May-01 10.080 30-Apr-02 7.426 6-May-03 5.941
11.863 9-May-00 10.481 8-May-01 10.110 2-May-02 7.425 7-May-03 5.946
11.872 10-May-00 10.507 9-May-01 10.100 3-May-02 7.425 8-May-03 5.924
11.800 11-May-00 10.517 10-May-01 10.080 4-May-02 7.444 9-May-03 5.918
11.800 12-May-00 10.500 11-May-01 10.040 8-May-02 7.491 10-May-03 5.924
11.800 15-May-00 10.508 12-May-01 10.040 9-May-02 7.426 12-May-03 5.924
11.818 16-May-00 10.509 14-May-01 10.030 10-May-02 7.503 13-May-03 5.904
11.837 17-May-00 10.515 15-May-01 10.040 11-May-02 7.536 14-May-03 5.897
11.857 18-May-00 10.515 16-May-01 10.010 15-May-02 7.676 17-May-03 5.860
11.847 19-May-00 10.519 17-May-01 9.960 16-May-02 7.831 19-May-03 5.860
11.857 22-May-00 10.572 18-May-01 9.960 17-May-02 7.892 20-May-03 5.862
11.856 23-May-00 10.570 19-May-01 9.960 18-May-02 7.864 21-May-03 5.861
11.795 24-May-00 10.655 21-May-01 9.970 22-May-02 8.209 22-May-03 5.837
11.795 25-May-00 10.894 22-May-01 9.980 23-May-02 8.170 23-May-03 5.861
11.755 26-May-00 10.791 23-May-01 9.970 24-May-02 7.979 24-May-03 5.783
11.786 29-May-00 10.731 24-May-01 9.890 25-May-02 7.848 26-May-03 5.783
11.885 30-May-00 10.854 25-May-01 9.870 29-May-02 7.796 28-May-03 5.789
11.725 31-May-00 10.839 26-May-01 9.870 30-May-02 7.790 29-May-03 5.802
11.713 1-Jun-00 10.860 28-May-01 9.790 31-May-02 7.654 30-May-03 5.796
11.712 2-Jun-00 10.871 29-May-01 9.790 1-Jun-02 7.650 31-May-03 5.800
11.702 5-Jun-00 10.886 30-May-01 9.720 5-Jun-02 7.615 2-Jun-03 5.811
11.702 6-Jun-00 10.893 31-May-01 9.690 6-Jun-02 7.653 3-Jun-03 5.811
11.731 7-Jun-00 10.962 1-Jun-01 9.750 7-Jun-02 7.695 4-Jun-03 5.935
11.731 8-Jun-00 11.035 2-Jun-01 9.740 8-Jun-02 7.703 5-Jun-03 5.935
11.731 9-Jun-00 11.128 4-Jun-01 9.820 12-Jun-02 7.614 6-Jun-03 5.761
11.730 12-Jun-00 11.102 5-Jun-01 9.820 13-Jun-02 7.614 7-Jun-03 5.761
11.730 13-Jun-00 11.071 6-Jun-01 9.820 14-Jun-02 7.614 9-Jun-03 5.761
11.760 14-Jun-00 11.079 7-Jun-01 9.870 15-Jun-02 7.649 11-Jun-03 5.765
11.750 15-Jun-00 11.079 8-Jun-01 9.830 19-Jun-02 7.667 12-Jun-03 5.767
11.739 16-Jun-00 11.084 9-Jun-01 9.830 20-Jun-02 7.685 13-Jun-03 5.770
11.824 19-Jun-00 11.085 11-Jun-01 9.790 21-Jun-02 7.652 14-Jun-03 5.897
11.824 20-Jun-00 11.109 12-Jun-01 9.780 22-Jun-02 7.627 16-Jun-03 5.750
11.812 21-Jun-00 11.071 13-Jun-01 9.730 26-Jun-02 7.655 17-Jun-03 5.895
11.814 22-Jun-00 11.053 14-Jun-01 9.720 27-Jun-02 7.652 20-Jun-03 5.737
11.813 23-Jun-00 11.050 15-Jun-01 9.720 28-Jun-02 7.615 21-Jun-03 5.736
11.821 26-Jun-00 11.049 16-Jun-01 9.720 29-Jun-02 7.385 23-Jun-03 5.732
11.821 27-Jun-00 11.052 18-Jun-01 9.710 1-Jul-02 7.467 24-Jun-03 5.706
11.819 28-Jun-00 11.042 19-Jun-01 9.650 2-Jul-02 7.439 25-Jun-03 5.706
11.691 29-Jun-00 11.024 20-Jun-01 9.600 3-Jul-02 7.420 27-Jun-03 5.730
11.701 30-Jun-00 11.020 21-Jun-01 9.570 4-Jul-02 7.427 28-Jun-03 5.732
11.710 3-Jul-00 10.980 22-Jun-01 9.590 5-Jul-02 7.425 1-Jul-03 5.725
11.821 4-Jul-00 10.946 23-Jun-01 9.590 8-Jul-02 7.425 2-Jul-03 5.722
11.872 5-Jul-00 10.961 25-Jun-01 9.580 9-Jul-02 7.351 3-Jul-03 5.723
11.841 6-Jul-00 10.966 26-Jun-01 9.510 10-Jul-02 7.352 5-Jul-03 5.729
11.850 7-Jul-00 10.983 27-Jun-01 9.520 11-Jul-02 7.342 8-Jul-03 5.734
11.850 10-Jul-00 10.954 28-Jun-01 9.520 12-Jul-02 7.338 9-Jul-03 5.717
11.849 11-Jul-00 10.948 29-Jun-01 9.540 15-Jul-02 7.377 12-Jul-03 5.719
11.787 12-Jul-00 10.951 30-Jun-01 9.570 16-Jul-02 7.381 14-Jul-03 5.716
11.766 13-Jul-00 10.947 2-Jul-01 9.460 17-Jul-02 7.358 15-Jul-03 5.715
11.775 14-Jul-00 10.932 3-Jul-01 9.400 18-Jul-02 7.336 16-Jul-03 5.716
11.775 17-Jul-00 10.885 4-Jul-01 9.400 19-Jul-02 7.330 17-Jul-03 5.721
11.774 18-Jul-00 10.887 6-Jul-01 9.390 22-Jul-02 7.334 18-Jul-03 5.719
11.772 19-Jul-00 10.928 7-Jul-01 9.340 23-Jul-02 7.337 19-Jul-03 5.710
11.751 20-Jul-00 10.986 9-Jul-01 9.340 24-Jul-02 7.343 21-Jul-03 5.707
11.750 21-Jul-00 11.067 10-Jul-01 9.500 25-Jul-02 7.333 22-Jul-03 5.707
11.739 24-Jul-00 11.163 11-Jul-01 9.500 26-Jul-02 7.312 23-Jul-03 5.699
11.737 25-Jul-00 11.352 13-Jul-01 9.430 29-Jul-02 7.314 24-Jul-03 5.682
11.739 26-Jul-00 11.349 14-Jul-01 9.460 30-Jul-02 7.327 25-Jul-03 5.666
11.739 27-Jul-00 11.349 16-Jul-01 9.380 31-Jul-02 7.316 28-Jul-03 5.642
11.788 28-Jul-00 11.249 17-Jul-01 9.340 1-Aug-02 7.280 29-Jul-03 5.644
11.767 31-Jul-00 11.326 18-Jul-01 9.340 2-Aug-02 7.270 30-Jul-03 5.643
11.766 1-Aug-00 11.338 20-Jul-01 9.350 5-Aug-02 7.190 31-Jul-03 5.626
11.684 2-Aug-00 11.334 21-Jul-01 9.320 6-Aug-02 7.200 1-Aug-03 5.616
11.620 3-Aug-00 11.373 23-Jul-01 9.340 7-Aug-02 7.160 2-Aug-03 5.561
11.646 4-Aug-00 11.350 24-Jul-01 9.340 8-Aug-02 7.170 4-Aug-03 5.570
11.489 7-Aug-00 11.359 25-Jul-01 9.340 9-Aug-02 7.230 5-Aug-03 5.573
11.488 8-Aug-00 11.424 27-Jul-01 9.340 12-Aug-02 7.190 6-Aug-03 5.577
11.524 9-Aug-00 11.457 28-Jul-01 9.360 13-Aug-02 7.200 7-Aug-03 5.562
11.514 10-Aug-00 11.475 1-Aug-01 9.360 14-Aug-02 7.230 8-Aug-03 5.561
11.581 11-Aug-00 11.411 2-Aug-01 9.360 15-Aug-02 7.230 9-Aug-03 5.536
11.645 14-Aug-00 11.407 3-Aug-01 9.350 16-Aug-02 7.200 11-Aug-03 5.533
11.644 15-Aug-00 11.386 4-Aug-01 9.350 19-Aug-02 7.180 12-Aug-03 5.539
11.516 16-Aug-00 11.273 6-Aug-01 9.300 20-Aug-02 7.160 13-Aug-03 5.534
11.565 17-Aug-00 11.410 7-Aug-01 9.310 21-Aug-02 7.170 14-Aug-03 5.550
11.539 18-Aug-00 11.378 8-Aug-01 9.340 22-Aug-02 7.180 16-Aug-03 5.559
11.506 21-Aug-00 11.373 9-Aug-01 9.320 23-Aug-02 7.170 18-Aug-03 5.545
11.536 22-Aug-00 11.298 10-Aug-01 9.280 26-Aug-02 7.180 19-Aug-03 5.544
11.529 23-Aug-00 11.507 11-Aug-01 9.280 27-Aug-02 7.180 20-Aug-03 5.544
11.529 24-Aug-00 11.418 13-Aug-01 9.250 28-Aug-02 7.170 21-Aug-03 5.550
11.552 25-Aug-00 11.400 14-Aug-01 9.250 29-Aug-02 7.150 22-Aug-03 5.564
11.568 28-Aug-00 11.425 15-Aug-01 9.250 30-Aug-02 7.130 23-Aug-03 5.559
11.553 29-Aug-00 11.427 16-Aug-01 9.240 2-Sep-02 7.170 25-Aug-03 5.314
11.559 30-Aug-00 11.436 17-Aug-01 9.240 3-Sep-02 7.170 26-Aug-03 5.243
11.587 31-Aug-00 11.488 18-Aug-01 9.240 4-Sep-02 7.140 27-Aug-03 5.278
11.586 1-Sep-00 11.481 20-Aug-01 9.190 5-Sep-02 7.120 28-Aug-03 5.262
11.600 4-Sep-00 11.535 21-Aug-01 9.190 6-Sep-02 7.170 29-Aug-03 5.269
11.632 5-Sep-00 11.540 22-Aug-01 9.190 9-Sep-02 7.180 30-Aug-03 5.266
11.632 6-Sep-00 11.589 23-Aug-01 9.170 10-Sep-02 7.180 1-Sep-03 5.272
11.655 7-Sep-00 11.566 24-Aug-01 9.100 11-Sep-02 7.170 2-Sep-03 5.282
11.654 11-Sep-00 11.542 25-Aug-01 9.100 12-Sep-02 7.160 3-Sep-03 5.284
11.654 12-Sep-00 11.506 27-Aug-01 9.070 13-Sep-02 7.180 4-Sep-03 5.275
11.623 13-Sep-00 11.485 28-Aug-01 9.070 16-Sep-02 7.180 5-Sep-03 5.279
11.621 14-Sep-00 11.467 29-Aug-01 9.080 17-Sep-02 7.180 6-Sep-03 5.278
11.580 15-Sep-00 11.457 30-Aug-01 9.100 18-Sep-02 7.170 8-Sep-03 5.286
11.609 18-Sep-00 11.486 31-Aug-01 9.120 20-Sep-02 7.170 9-Sep-03 5.300
11.598 19-Sep-00 11.466 1-Sep-01 9.360 23-Sep-02 7.180 10-Sep-03 5.328
11.582 20-Sep-00 11.588 3-Sep-01 9.350 24-Sep-02 7.180 11-Sep-03 5.338
11.581 21-Sep-00 11.507 4-Sep-01 9.350 25-Sep-02 7.190 12-Sep-03 5.326
11.527 25-Sep-00 11.574 6-Sep-01 9.300 26-Sep-02 7.190 15-Sep-03 5.327
11.508 26-Sep-00 11.570 7-Sep-01 9.310 27-Sep-02 7.160 16-Sep-03 5.316
11.553 27-Sep-00 11.626 8-Sep-01 9.340 30-Sep-02 7.160 17-Sep-03 5.292
11.567 28-Sep-00 11.602 10-Sep-01 9.280 1-Oct-02 7.140 18-Sep-03 5.315
11.571 29-Sep-00 11.636 11-Sep-01 9.280 2-Oct-02 7.140 19-Sep-03 5.309
11.571 2-Oct-00 11.637 12-Sep-01 9.170 3-Oct-02 7.130 20-Sep-03 5.309
11.541 3-Oct-00 11.592 13-Sep-01 9.230 4-Oct-02 7.120 22-Sep-03 5.307
11.567 4-Oct-00 11.683 14-Sep-01 9.270 7-Oct-02 7.110 23-Sep-03 5.310
11.553 5-Oct-00 11.622 15-Sep-01 9.270 8-Oct-02 7.090 24-Sep-03 5.276
11.542 6-Oct-00 11.635 17-Sep-01 9.910 9-Oct-02 7.100 25-Sep-03 5.261
11.582 9-Oct-00 11.636 18-Sep-01 9.430 10-Oct-02 7.090 26-Sep-03 5.251
11.562 10-Oct-00 11.661 19-Sep-01 9.360 11-Oct-02 7.090 27-Sep-03 5.251
11.559 11-Oct-00 11.720 20-Sep-01 9.530 14-Oct-02 7.080 29-Sep-03 5.244
11.563 12-Oct-00 11.709 21-Sep-01 9.730 15-Oct-02 7.080 1-Oct-03 5.145
11.552 13-Oct-00 11.764 22-Sep-01 9.730 16-Oct-02 7.090 3-Oct-03 5.153
11.541 16-Oct-00 11.723 24-Sep-01 9.360 17-Oct-02 7.070 6-Oct-03 5.131
11.571 17-Oct-00 11.636 25-Sep-01 9.300 18-Oct-02 7.040 7-Oct-03 5.064
11.573 18-Oct-00 11.626 26-Sep-01 9.310 21-Oct-02 7.040 8-Oct-03 5.069
11.567 19-Oct-00 11.645 27-Sep-01 9.230 22-Oct-02 7.050 9-Oct-03 5.036
11.550 20-Oct-00 11.626 28-Sep-01 9.120 23-Oct-02 7.050 10-Oct-03 5.074
11.550 23-Oct-00 11.655 29-Sep-01 9.120 24-Oct-02 7.050 13-Oct-03 5.035
11.552 24-Oct-00 11.666 1-Oct-01 9.200 25-Oct-02 7.060 14-Oct-03 5.020
11.551 25-Oct-00 11.666 2-Oct-01 9.200 28-Oct-02 7.050 15-Oct-03 5.002
11.540 26-Oct-00 11.666 3-Oct-01 9.120 29-Oct-02 6.990 16-Oct-03 4.953
11.530 27-Oct-00 11.668 4-Oct-01 9.070 30-Oct-02 6.930 17-Oct-03 4.971
11.522 30-Oct-00 11.662 5-Oct-01 9.100 31-Oct-02 6.920 18-Oct-03 4.970
11.526 31-Oct-00 11.702 6-Oct-01 9.100 1-Nov-02 6.930 20-Oct-03 5.015
11.522 1-Nov-00 11.696 8-Oct-01 9.100 4-Nov-02 6.930 21-Oct-03 5.033
11.516 2-Nov-00 11.597 9-Oct-01 9.100 5-Nov-02 6.860 22-Oct-03 5.085
11.517 3-Nov-00 11.696 10-Oct-01 9.120 6-Nov-02 6.870 23-Oct-03 5.135
11.503 6-Nov-00 11.441 11-Oct-01 9.110 7-Nov-02 6.810 24-Oct-03 5.090
11.497 7-Nov-00 11.415 12-Oct-01 9.140 8-Nov-02 6.830 27-Oct-03 5.114
11.493 8-Nov-00 11.361 13-Oct-01 9.140 11-Nov-02 6.820 28-Oct-03 5.172
11.491 9-Nov-00 11.351 15-Oct-01 9.150 12-Nov-02 6.800 29-Oct-03 5.118
11.474 10-Nov-00 11.358 16-Oct-01 9.120 13-Nov-02 6.760 30-Oct-03 5.080
11.474 13-Nov-00 11.323 17-Oct-01 9.110 14-Nov-02 6.690 31-Oct-03 5.082
11.473 14-Nov-00 11.283 18-Oct-01 9.120 15-Nov-02 6.540 1-Nov-03 5.086
11.472 15-Nov-00 11.346 19-Oct-01 9.120 18-Nov-02 6.600 3-Nov-03 5.152
11.441 16-Nov-00 11.285 20-Oct-01 9.120 19-Nov-02 6.590 4-Nov-03 5.078
11.420 17-Nov-00 11.296 22-Oct-01 9.020 20-Nov-02 6.540 5-Nov-03 5.068
11.409 20-Nov-00 11.368 23-Oct-01 8.890 21-Nov-02 6.590 6-Nov-03 5.060
11.401 21-Nov-00 11.368 24-Oct-01 8.910 22-Nov-02 6.450 7-Nov-03 5.077
11.397 22-Nov-00 11.367 25-Oct-01 8.910 25-Nov-02 6.420 10-Nov-03 5.068
11.403 23-Nov-00 11.370 26-Oct-01 8.910 26-Nov-02 6.410 11-Nov-03 5.060
11.402 24-Nov-00 11.361 27-Oct-01 8.910 27-Nov-02 6.380 12-Nov-03 5.075
11.401 27-Nov-00 11.418 29-Oct-01 8.880 28-Nov-02 6.370 13-Nov-03 5.088
11.397 28-Nov-00 11.418 30-Oct-01 8.860 29-Nov-02 6.440 14-Nov-03 5.108
11.393 29-Nov-00 11.414 31-Oct-01 8.810 2-Dec-02 6.390 17-Nov-03 5.133
11.361 30-Nov-00 11.472 1-Nov-01 8.820 3-Dec-02 6.390 18-Nov-03 5.177
11.360 1-Dec-00 11.469 2-Nov-01 8.790 4-Dec-02 6.370 19-Nov-03 5.130
11.360 4-Dec-00 11.461 3-Nov-01 8.790 5-Dec-02 6.380 20-Nov-03 5.106
11.359 5-Dec-00 11.462 5-Nov-01 8.780 6-Dec-02 6.380 21-Nov-03 5.102
11.319 6-Dec-00 11.425 6-Nov-01 8.770 9-Dec-02 6.390 22-Nov-03 5.100
11.260 7-Dec-00 11.419 7-Nov-01 8.720 10-Dec-02 6.410 25-Nov-03 5.129
11.117 8-Dec-00 11.292 8-Nov-01 8.720 12-Dec-02 6.380 27-Nov-03 5.112
11.179 11-Dec-00 11.280 9-Nov-01 8.720 13-Dec-02 6.370 28-Nov-03 5.137
11.341 12-Dec-00 11.280 10-Nov-01 8.720 16-Dec-02 6.350 1-Dec-03 5.222
11.381 13-Dec-00 11.321 12-Nov-01 8.630 17-Dec-02 6.330 2-Dec-03 5.191
11.421 14-Dec-00 11.346 13-Nov-01 8.630 18-Dec-02 6.330 3-Dec-03 5.183
11.361 15-Dec-00 11.343 14-Nov-01 8.630 19-Dec-02 6.330 4-Dec-03 5.177
11.361 18-Dec-00 11.204 15-Nov-01 8.640 20-Dec-02 6.320 5-Dec-03 5.203
11.357 19-Dec-00 11.028 16-Nov-01 8.640 23-Dec-02 6.300 8-Dec-03 5.171
11.369 20-Dec-00 11.044 17-Nov-01 8.640 24-Dec-02 6.290 9-Dec-03 5.192
11.373 21-Dec-00 11.008 19-Nov-01 8.460 25-Dec-02 6.290 10-Dec-03 5.213
11.312 22-Dec-00 11.078 20-Nov-01 8.370 26-Dec-02 6.260 11-Dec-03 5.210
11.278 25-Dec-00 11.079 21-Nov-01 8.330 27-Dec-02 6.220 12-Dec-03 5.191
11.292 26-Dec-00 10.977 22-Nov-01 8.200 30-Dec-02 6.150 13-Dec-03 5.193
11.292 27-Dec-00 10.946 23-Nov-01 8.120 31-Dec-02 6.070 15-Dec-03 5.198
11.305 28-Dec-00 10.946 24-Nov-01 8.120 1-Jan-03 6.040 16-Dec-03 5.216
11.275 1-Jan-01 10.800 26-Nov-01 8.120 2-Jan-03 5.990 17-Dec-03 5.191
11.275 2-Jan-01 10.810 27-Nov-01 8.020 3-Jan-03 6.020 18-Dec-03 5.172
11.256 3-Jan-01 10.790 28-Nov-01 7.860 4-Jan-03 6.052 19-Dec-03 5.146
11.223 4-Jan-01 10.690 29-Nov-01 7.870 6-Jan-03 6.000 22-Dec-03 5.155
11.222 5-Jan-01 10.670 30-Nov-01 7.870 7-Jan-03 5.990 23-Dec-03 5.144
11.184 6-Jan-01 10.670 1-Dec-01 7.870 8-Jan-03 6.000 24-Dec-03 5.148
11.189 8-Jan-01 10.660 3-Dec-01 7.880 9-Jan-03 6.010 26-Dec-03 5.124
11.229 9-Jan-01 10.680 4-Dec-01 7.780 10-Jan-03 6.000 29-Dec-03 5.116
11.258 10-Jan-01 10.690 5-Dec-01 7.800 11-Jan-03 6.008 30-Dec-03 5.109
11.277 11-Jan-01 10.710 6-Dec-01 7.800 13-Jan-03 5.990 31-Dec-03 5.132
11.247 12-Jan-01 10.670 7-Dec-01 8.070 14-Jan-03 5.910 1-Jan-04 5.135
11.227 13-Jan-01 10.670 8-Dec-01 8.070 15-Jan-03 5.830 2-Jan-04 5.110
11.233 15-Jan-01 10.620 10-Dec-01 8.070 16-Jan-03 5.920 5-Jan-04 5.114
11.233 16-Jan-01 10.630 11-Dec-01 8.220 17-Jan-03 5.890 6-Jan-04 5.108
11.218 17-Jan-01 10.620 12-Dec-01 8.010 18-Jan-03 5.862 7-Jan-04 5.122
11.005 18-Jan-01 10.570 13-Dec-01 8.000 20-Jan-03 5.880 8-Jan-04 5.116
10.965 19-Jan-01 10.550 14-Dec-01 7.940 21-Jan-03 5.870 9-Jan-04 5.117
10.928 20-Jan-01 10.550 15-Dec-01 7.940 22-Jan-03 5.850 12-Jan-04 5.132
10.857 22-Jan-01 10.580 17-Dec-01 7.940 23-Jan-03 5.880 13-Jan-04 5.140
10.856 23-Jan-01 10.540 18-Dec-01 8.060 24-Jan-03 5.930 14-Jan-04 5.127
10.828 24-Jan-01 10.540 19-Dec-01 8.040 25-Jan-03 6.014 15-Jan-04 5.132
10.850 25-Jan-01 10.570 20-Dec-01 8.000 27-Jan-03 6.100 16-Jan-04 5.138
10.859 26-Jan-01 10.570 21-Dec-01 8.040 28-Jan-03 6.210 19-Jan-04 5.139
10.868 27-Jan-01 10.570 22-Dec-01 8.040 29-Jan-03 6.080 20-Jan-04 5.147
10.847 29-Jan-01 10.620 24-Dec-01 8.200 30-Jan-03 6.290 21-Jan-04 5.144
10.847 30-Jan-01 10.620 26-Dec-01 8.400 31-Jan-03 6.360 22-Jan-04 5.142
10.816 31-Jan-01 10.560 27-Dec-01 8.410 3-Feb-03 6.190 23-Jan-04 5.140
10.754 1-Feb-01 10.610 28-Dec-01 8.290 4-Feb-03 6.190 27-Jan-04 5.145
10.686 2-Feb-01 10.620 29-Dec-01 8.290 5-Feb-03 6.270 28-Jan-04 5.150
10.685 3-Feb-01 10.620 31-Dec-01 7.940 6-Feb-03 6.280 29-Jan-04 5.199
10.591 5-Feb-01 10.600 1-Jan-02 7.890 7-Feb-03 6.510 30-Jan-04 5.202
10.591 6-Feb-01 10.530 2-Jan-02 7.890 8-Feb-03 6.571 3-Feb-04 5.203
10.453 7-Feb-01 10.490 3-Jan-02 7.890 10-Feb-03 6.460 4-Feb-04 5.173
10.408 8-Feb-01 10.400 4-Jan-02 7.910 11-Feb-03 6.530 5-Feb-04 5.188
10.407 9-Feb-01 10.330 5-Jan-02 7.910 12-Feb-03 6.600 6-Feb-04 5.210
10.038 10-Feb-01 10.330 7-Jan-02 7.890 13-Feb-03 6.600 7-Feb-04 5.223
10.141 12-Feb-01 10.350 8-Jan-02 7.890 14-Feb-03 6.740 9-Feb-04 5.218
10.444 13-Feb-01 10.350 9-Jan-02 7.910 15-Feb-03 6.537 10-Feb-04 5.237
10.443 14-Feb-01 10.410 10-Jan-02 7.900 17-Feb-03 6.330 11-Feb-04 5.275
10.421 15-Feb-01 10.470 11-Jan-02 7.930 18-Feb-03 6.380 12-Feb-04 5.284
10.405 16-Feb-01 10.420 12-Jan-02 7.930 19-Feb-03 6.560 16-Feb-04 5.329
10.375 17-Feb-01 10.420 14-Jan-02 7.910 20-Feb-03 6.540 17-Feb-04 5.329
10.402 19-Feb-01 10.290 15-Jan-02 7.900 21-Feb-03 6.610 19-Feb-04 5.327
10.402 20-Feb-01 10.290 16-Jan-02 7.880 22-Feb-03 6.619 20-Feb-04 5.329
10.404 21-Feb-01 10.290 17-Jan-02 7.900 24-Feb-03 6.650 23-Feb-04 5.257
10.407 22-Feb-01 10.100 18-Jan-02 7.870 25-Feb-03 6.560 24-Feb-04 5.261
10.383 23-Feb-01 10.110 19-Jan-02 7.870 26-Feb-03 6.460 25-Feb-04 5.239
10.396 24-Feb-01 10.110 21-Jan-02 7.810 27-Feb-03 6.450 26-Feb-04 5.247
10.503 26-Feb-01 10.100 22-Jan-02 7.770 28-Feb-03 6.290 27-Feb-04 5.267
10.503 27-Feb-01 10.070 23-Jan-02 7.770 3-Mar-03 6.050 28-Feb-04 5.265
10.783 28-Feb-01 9.800 24-Jan-02 7.770 4-Mar-03 6.250 1-Mar-04 5.261
10.783 1-Mar-01 9.670 25-Jan-02 7.770 5-Mar-03 6.330 3-Mar-04 5.252
10.723 2-Mar-01 9.870 26-Jan-02 7.770 6-Mar-03 6.260 4-Mar-04 5.235
10.614 3-Mar-01 9.870 28-Jan-02 7.740 7-Mar-03 6.400 5-Mar-04 5.250
10.613 5-Mar-01 10.040 29-Jan-02 7.710 8-Mar-03 6.447 6-Mar-04 5.233
10.615 6-Mar-01 10.040 30-Jan-02 7.680 10-Mar-03 6.490 8-Mar-04 5.234
10.724 7-Mar-01 9.880 31-Jan-02 7.670 11-Mar-03 6.420 9-Mar-04 5.227
10.723 8-Mar-01 9.830 1-Feb-02 7.660 12-Mar-03 6.350 10-Mar-04 5.216
10.735 9-Mar-01 9.880 2-Feb-02 7.660 13-Mar-03 6.360 11-Mar-04 5.222
10.710 10-Mar-01 9.880 4-Feb-02 7.560 15-Mar-03 6.328 12-Mar-04 5.204
10.710 12-Mar-01 9.890 5-Feb-02 7.570 17-Mar-03 6.481 13-Mar-04 5.187
10.726 13-Mar-01 9.970 6-Feb-02 7.580 18-Mar-03 6.491 15-Mar-04 5.198
10.769 14-Mar-01 10.110 7-Feb-02 7.480 19-Mar-03 6.448 16-Mar-04 5.202
10.870 15-Mar-01 10.070 8-Feb-02 7.410 20-Mar-03 6.470 17-Mar-04 5.177
10.831 16-Mar-01 10.070 9-Feb-02 7.410 21-Mar-03 6.314 18-Mar-04 5.177
10.870 17-Mar-01 10.070 11-Feb-02 7.310 22-Mar-03 6.232 19-Mar-04 5.163
11.047 19-Mar-01 10.040 12-Feb-02 7.280 24-Mar-03 6.347 20-Mar-04 5.162
10.875 20-Mar-01 10.040 13-Feb-02 7.210 25-Mar-03 6.378 22-Mar-04 5.163
10.884 21-Mar-01 10.060 14-Feb-02 7.210 26-Mar-03 6.340 23-Mar-04 5.179
10.786 22-Mar-01 10.090 15-Feb-02 7.230 27-Mar-03 6.326 24-Mar-04 5.177
23-Mar-01 10.110 16-Feb-02 7.230 28-Mar-03 6.311 25-Mar-04 5.169
24-Mar-01 10.110 18-Feb-02 7.210 29-Mar-03 6.321 26-Mar-04 5.162
26-Mar-01 10.110 19-Feb-02 7.220 31-Mar-03 6.153 27-Mar-04 5.162
27-Mar-01 10.280 20-Feb-02 7.290 29-Mar-04 5.161
28-Mar-01 10.270 21-Feb-02 7.300 31-Mar-04 5.159
29-Mar-01 10.200 22-Feb-02 7.520
30-Mar-01 10.170 23-Feb-02 7.520
31-Mar-01 10.170 25-Feb-02 7.490
26-Feb-02 7.390
27-Feb-02 7.300
28-Feb-02 7.360
1-Mar-02 7.362
4-Mar-02 7.456
5-Mar-02 7.260
6-Mar-02 7.464
7-Mar-02 7.518
8-Mar-02 7.622
11-Mar-02 7.549
12-Mar-02 7.548
13-Mar-02 7.611
14-Mar-02 7.635
15-Mar-02 7.491
18-Mar-02 7.481
19-Mar-02 7.493
20-Mar-02 7.425
21-Mar-02 7.464
22-Mar-02 7.454
23-Mar-02 7.454
25-Mar-02 7.433
FY05 6.209 FY06 7.112 FY07 7.778 FY08 7.915 FY09
Date 10 Yr G-Sec Date 10 Yr G-Sec Date 10 Yr G-Sec Date 10 Yr G-Sec Date
1-Apr-04 5.128 1-Apr-05 6.685 3-Apr-06 7.559 3-Apr-07 8.186 2-Apr-08
2-Apr-04 5.115 2-Apr-05 6.734 4-Apr-06 7.553 4-Apr-07 8.163 3-Apr-08
5-Apr-04 5.128 4-Apr-05 6.749 5-Apr-06 7.548 5-Apr-07 8.169 4-Apr-08
6-Apr-04 5.134 5-Apr-05 6.737 7-Apr-06 7.548 9-Apr-07 8.140 7-Apr-08
7-Apr-04 5.119 6-Apr-05 6.813 10-Apr-06 7.549 10-Apr-07 8.020 8-Apr-08
8-Apr-04 5.115 7-Apr-05 6.875 12-Apr-06 7.578 11-Apr-07 8.053 10-Apr-08
12-Apr-04 5.086 8-Apr-05 7.016 13-Apr-06 7.614 12-Apr-07 8.031 11-Apr-08
13-Apr-04 5.083 11-Apr-05 7.016 17-Apr-06 7.560 13-Apr-07 8.103 15-Apr-08
15-Apr-04 5.078 12-Apr-05 7.000 18-Apr-06 7.459 16-Apr-07 8.097 16-Apr-08
16-Apr-04 5.082 13-Apr-05 6.992 19-Apr-06 7.330 17-Apr-07 8.106 17-Apr-08
17-Apr-04 5.082 15-Apr-05 7.006 20-Apr-06 7.431 18-Apr-07 8.084 21-Apr-08
19-Apr-04 5.068 16-Apr-05 7.091 21-Apr-06 7.416 19-Apr-07 8.061 29-Apr-08
20-Apr-04 5.066 19-Apr-05 7.079 24-Apr-06 7.374 20-Apr-07 8.073 30-Apr-08
21-Apr-04 5.071 20-Apr-05 7.077 25-Apr-06 7.336 23-Apr-07 8.094 2-May-08
22-Apr-04 5.069 21-Apr-05 7.064 26-Apr-06 7.372 24-Apr-07 8.015 5-May-08
23-Apr-04 5.073 23-Apr-05 7.101 27-Apr-06 7.424 25-Apr-07 7.984 6-May-08
24-Apr-04 5.072 25-Apr-05 7.110 28-Apr-06 7.401 26-Apr-07 8.044 7-May-08
27-Apr-04 5.111 26-Apr-05 7.120 2-May-06 7.481 27-Apr-07 8.103 8-May-08
28-Apr-04 5.119 27-Apr-05 7.104 3-May-06 7.510 30-Apr-07 8.178 9-May-08
29-Apr-04 5.155 28-Apr-05 7.254 4-May-06 7.514 3-May-07 8.151 12-May-08
30-Apr-04 5.125 29-Apr-05 7.229 5-May-06 7.531 4-May-07 8.156 13-May-08
3-May-04 5.123 30-Apr-05 7.353 8-May-06 7.530 7-May-07 8.157 14-May-08
5-May-04 5.116 2-May-05 7.331 9-May-06 7.494 8-May-07 8.123 15-May-08
6-May-04 5.109 3-May-05 7.257 10-May-06 7.504 9-May-07 8.083 16-May-08
7-May-04 5.126 4-May-05 7.233 11-May-06 7.527 10-May-07 8.111 20-May-08
10-May-04 5.206 5-May-05 7.232 12-May-06 7.548 11-May-07 8.145 21-May-08
11-May-04 5.196 6-May-05 7.251 15-May-06 7.597 14-May-07 8.157 22-May-08
12-May-04 5.192 7-May-05 7.254 16-May-06 7.577 15-May-07 8.145 23-May-08
13-May-04 5.181 9-May-05 7.244 17-May-06 7.568 16-May-07 8.113 26-May-08
14-May-04 5.219 10-May-05 7.215 18-May-06 7.620 17-May-07 8.112 27-May-08
15-May-04 5.230 11-May-05 7.208 19-May-06 7.607 18-May-07 8.152 28-May-08
17-May-04 5.255 12-May-05 7.193 22-May-06 7.601 21-May-07 8.105 29-May-08
18-May-04 5.195 13-May-05 7.171 23-May-06 7.591 22-May-07 8.116 30-May-08
19-May-04 5.189 14-May-05 7.171 24-May-06 7.612 23-May-07 8.129 2-Jun-08
20-May-04 5.183 16-May-05 7.193 25-May-06 7.605 24-May-07 8.156 3-Jun-08
21-May-04 5.196 17-May-05 7.162 26-May-06 7.615 25-May-07 8.146 4-Jun-08
22-May-04 5.196 18-May-05 7.158 29-May-06 7.630 28-May-07 8.067 5-Jun-08
24-May-04 5.179 19-May-05 7.070 30-May-06 7.656 29-May-07 8.108 6-Jun-08
25-May-04 5.187 20-May-05 6.994 31-May-06 7.667 30-May-07 8.102 9-Jun-08
26-May-04 5.195 21-May-05 7.016 1-Jun-06 7.674 31-May-07 8.092 10-Jun-08
27-May-04 5.201 24-May-05 6.956 2-Jun-06 7.673 1-Jun-07 8.089 11-Jun-08
28-May-04 5.240 25-May-05 6.921 5-Jun-06 7.653 4-Jun-07 8.100 12-Jun-08
29-May-04 5.241 26-May-05 6.977 6-Jun-06 7.673 5-Jun-07 8.089 13-Jun-08
31-May-04 5.283 27-May-05 6.965 7-Jun-06 7.670 6-Jun-07 8.144 16-Jun-08
1-Jun-04 5.278 28-May-05 7.000 8-Jun-06 7.676 7-Jun-07 8.111 17-Jun-08
2-Jun-04 5.295 30-May-05 7.024 9-Jun-06 7.807 8-Jun-07 8.139 18-Jun-08
3-Jun-04 5.284 31-May-05 6.982 12-Jun-06 7.802 11-Jun-07 8.234 19-Jun-08
4-Jun-04 5.277 1-Jun-05 6.941 13-Jun-06 7.814 12-Jun-07 8.276 20-Jun-08
5-Jun-04 5.236 2-Jun-05 6.920 14-Jun-06 7.794 13-Jun-07 8.252 23-Jun-08
7-Jun-04 5.270 3-Jun-05 6.899 15-Jun-06 7.803 14-Jun-07 8.231 24-Jun-08
8-Jun-04 5.271 4-Jun-05 6.906 16-Jun-06 7.799 15-Jun-07 8.187 25-Jun-08
9-Jun-04 5.290 6-Jun-05 6.896 19-Jun-06 7.912 18-Jun-07 8.109 26-Jun-08
10-Jun-04 5.324 7-Jun-05 6.867 20-Jun-06 7.909 19-Jun-07 8.135 27-Jun-08
11-Jun-04 5.328 8-Jun-05 6.799 21-Jun-06 7.914 20-Jun-07 8.150 30-Jun-08
12-Jun-04 5.327 9-Jun-05 6.804 22-Jun-06 7.963 21-Jun-07 8.145 1-Jul-08
14-Jun-04 5.396 10-Jun-05 6.833 23-Jun-06 8.145 22-Jun-07 8.142 2-Jul-08
15-Jun-04 5.413 11-Jun-05 6.895 26-Jun-06 8.118 25-Jun-07 8.133 3-Jul-08
16-Jun-04 5.393 13-Jun-05 6.868 27-Jun-06 8.139 26-Jun-07 8.158 4-Jul-08
17-Jun-04 5.381 14-Jun-05 6.901 28-Jun-06 8.122 27-Jun-07 8.193 7-Jul-08
18-Jun-04 5.495 15-Jun-05 6.917 29-Jun-06 8.127 28-Jun-07 8.182 8-Jul-08
19-Jun-04 5.478 16-Jun-05 6.932 30-Jun-06 8.107 29-Jun-07 8.153 9-Jul-08
21-Jun-04 5.577 17-Jun-05 6.940 3-Jul-06 8.141 2-Jul-07 8.100 10-Jul-08
22-Jun-04 5.649 18-Jun-05 6.941 4-Jul-06 8.150 3-Jul-07 8.082 11-Jul-08
23-Jun-04 5.774 20-Jun-05 6.925 5-Jul-06 8.146 4-Jul-07 8.024 14-Jul-08
24-Jun-04 5.763 21-Jun-05 6.872 6-Jul-06 8.165 5-Jul-07 7.989 15-Jul-08
25-Jun-04 5.886 22-Jun-05 6.822 7-Jul-06 8.209 6-Jul-07 8.001 16-Jul-08
26-Jun-04 5.886 23-Jun-05 6.809 10-Jul-06 8.273 9-Jul-07 7.907 17-Jul-08
28-Jun-04 5.790 24-Jun-05 6.852 11-Jul-06 8.289 10-Jul-07 7.936 18-Jul-08
29-Jun-04 5.814 25-Jun-05 6.862 12-Jul-06 8.373 11-Jul-07 7.930 21-Jul-08
30-Jun-04 5.846 27-Jun-05 6.927 13-Jul-06 8.352 12-Jul-07 7.929 22-Jul-08
1-Jul-04 5.818 28-Jun-05 6.898 14-Jul-06 8.353 13-Jul-07 7.940 23-Jul-08
2-Jul-04 5.801 29-Jun-05 6.873 17-Jul-06 8.366 16-Jul-07 7.930 24-Jul-08
3-Jul-04 5.709 30-Jun-05 6.896 18-Jul-06 8.368 17-Jul-07 7.850 25-Jul-08
5-Jul-04 5.701 1-Jul-05 6.935 19-Jul-06 8.340 18-Jul-07 7.797 28-Jul-08
6-Jul-04 5.706 2-Jul-05 7.060 20-Jul-06 8.308 19-Jul-07 7.836 29-Jul-08
7-Jul-04 5.714 4-Jul-05 7.072 21-Jul-06 8.240 20-Jul-07 7.805 30-Jul-08
8-Jul-04 5.756 5-Jul-05 7.059 24-Jul-06 8.216 23-Jul-07 7.734 31-Jul-08
10-Jul-04 5.788 6-Jul-05 7.115 25-Jul-06 8.264 24-Jul-07 7.775 1-Aug-08
12-Jul-04 5.863 7-Jul-05 7.160 26-Jul-06 8.236 25-Jul-07 7.812 4-Aug-08
13-Jul-04 5.824 8-Jul-05 7.184 27-Jul-06 8.220 26-Jul-07 7.824 5-Aug-08
14-Jul-04 5.857 9-Jul-05 7.183 28-Jul-06 8.256 27-Jul-07 7.824 6-Aug-08
15-Jul-04 5.967 11-Jul-05 7.231 31-Jul-06 8.232 30-Jul-07 7.782 7-Aug-08
16-Jul-04 5.970 12-Jul-05 7.224 1-Aug-06 8.292 31-Jul-07 7.852 8-Aug-08
17-Jul-04 5.845 13-Jul-05 7.240 2-Aug-06 8.292 1-Aug-07 7.904 11-Aug-08
19-Jul-04 5.858 14-Jul-05 7.203 3-Aug-06 8.287 2-Aug-07 7.888 12-Aug-08
20-Jul-04 5.839 15-Jul-05 7.179 4-Aug-06 8.285 3-Aug-07 7.877 13-Aug-08
21-Jul-04 5.854 16-Jul-05 7.197 7-Aug-06 8.250 6-Aug-07 7.854 14-Aug-08
22-Jul-04 5.932 18-Jul-05 7.177 8-Aug-06 8.247 7-Aug-07 7.836 18-Aug-08
23-Jul-04 5.933 19-Jul-05 7.169 9-Aug-06 8.104 8-Aug-07 7.903 20-Aug-08
24-Jul-04 5.910 20-Jul-05 7.177 10-Aug-06 8.113 9-Aug-07 7.984 21-Aug-08
26-Jul-04 5.926 21-Jul-05 7.165 11-Aug-06 8.114 10-Aug-07 7.982 22-Aug-08
27-Jul-04 5.951 22-Jul-05 7.156 14-Aug-06 8.136 13-Aug-07 7.976 25-Aug-08
28-Jul-04 6.035 23-Jul-05 7.170 16-Aug-06 8.112 14-Aug-07 7.993 26-Aug-08
29-Jul-04 6.236 25-Jul-05 7.170 17-Aug-06 8.044 16-Aug-07 8.026 27-Aug-08
30-Jul-04 6.133 26-Jul-05 7.013 18-Aug-06 7.990 17-Aug-07 8.000 28-Aug-08
31-Jul-04 6.139 29-Jul-05 6.971 21-Aug-06 8.036 21-Aug-07 7.986 29-Aug-08
2-Aug-04 6.193 30-Jul-05 6.988 22-Aug-06 8.028 22-Aug-07 7.931 1-Sep-08
3-Aug-04 6.237 2-Aug-05 6.981 23-Aug-06 7.996 23-Aug-07 7.950 2-Sep-08
4-Aug-04 6.154 3-Aug-05 6.979 24-Aug-06 7.935 24-Aug-07 7.926 4-Sep-08
5-Aug-04 6.156 4-Aug-05 6.982 25-Aug-06 7.928 27-Aug-07 7.928 5-Sep-08
6-Aug-04 6.298 5-Aug-05 6.999 28-Aug-06 7.951 28-Aug-07 7.942 8-Sep-08
7-Aug-04 6.259 6-Aug-05 7.015 29-Aug-06 7.949 29-Aug-07 7.946 9-Sep-08
9-Aug-04 6.409 8-Aug-05 7.003 30-Aug-06 7.921 30-Aug-07 7.972 10-Sep-08
10-Aug-04 6.523 9-Aug-05 7.054 31-Aug-06 7.880 31-Aug-07 7.939 11-Sep-08
11-Aug-04 6.665 10-Aug-05 7.041 1-Sep-06 7.886 3-Sep-07 7.924 12-Sep-08
12-Aug-04 6.643 11-Aug-05 7.021 4-Sep-06 7.737 4-Sep-07 7.919 15-Sep-08
13-Aug-04 6.601 12-Aug-05 7.044 5-Sep-06 7.740 5-Sep-07 7.930 16-Sep-08
14-Aug-04 6.621 13-Aug-05 7.077 6-Sep-06 7.772 6-Sep-07 7.926 17-Sep-08
16-Aug-04 6.563 16-Aug-05 7.075 7-Sep-06 7.796 7-Sep-07 7.900 18-Sep-08
17-Aug-04 6.507 18-Aug-05 7.069 8-Sep-06 7.749 10-Sep-07 7.867 19-Sep-08
18-Aug-04 6.489 19-Aug-05 7.070 11-Sep-06 7.698 11-Sep-07 7.893 22-Sep-08
19-Aug-04 6.532 22-Aug-05 7.074 12-Sep-06 7.783 12-Sep-07 7.898 23-Sep-08
21-Aug-04 6.548 23-Aug-05 7.079 13-Sep-06 7.736 13-Sep-07 7.901 24-Sep-08
23-Aug-04 6.386 24-Aug-05 7.089 14-Sep-06 7.792 14-Sep-07 7.891 25-Sep-08
24-Aug-04 6.304 25-Aug-05 7.092 15-Sep-06 7.837 17-Sep-07 7.888 26-Sep-08
25-Aug-04 6.181 26-Aug-05 7.084 18-Sep-06 7.777 18-Sep-07 7.894 29-Sep-08
26-Aug-04 6.241 27-Aug-05 7.072 19-Sep-06 7.746 19-Sep-07 7.872 1-Oct-08
27-Aug-04 6.095 29-Aug-05 7.079 20-Sep-06 7.643 20-Sep-07 7.860 3-Oct-08
28-Aug-04 6.032 30-Aug-05 7.080 21-Sep-06 7.675 21-Sep-07 7.865 6-Oct-08
30-Aug-04 6.119 31-Aug-05 7.094 22-Sep-06 7.625 24-Sep-07 7.892 7-Oct-08
31-Aug-04 6.087 1-Sep-05 7.079 25-Sep-06 7.623 25-Sep-07 7.917 8-Oct-08
1-Sep-04 5.986 2-Sep-05 7.059 26-Sep-06 7.558 26-Sep-07 7.920 10-Oct-08
2-Sep-04 6.002 5-Sep-05 7.037 27-Sep-06 7.588 27-Sep-07 7.920 13-Oct-08
3-Sep-04 5.978 6-Sep-05 7.025 28-Sep-06 7.624 28-Sep-07 7.920 14-Oct-08
4-Sep-04 5.879 8-Sep-05 7.029 29-Sep-06 7.647 1-Oct-07 7.927 15-Oct-08
6-Sep-04 5.909 9-Sep-05 7.021 3-Oct-06 7.622 3-Oct-07 7.898 16-Oct-08
7-Sep-04 5.919 10-Sep-05 7.037 4-Oct-06 7.590 4-Oct-07 7.907 17-Oct-08
8-Sep-04 5.945 12-Sep-05 7.039 5-Oct-06 7.581 5-Oct-07 7.927 20-Oct-08
9-Sep-04 5.951 13-Sep-05 7.020 6-Oct-06 7.607 8-Oct-07 7.936 22-Oct-08
10-Sep-04 5.934 14-Sep-05 7.016 9-Oct-06 7.640 9-Oct-07 7.932 23-Oct-08
11-Sep-04 5.945 15-Sep-05 7.008 10-Oct-06 7.619 10-Oct-07 7.907 24-Oct-08
13-Sep-04 6.142 17-Sep-05 7.023 11-Oct-06 7.632 11-Oct-07 7.895 27-Oct-08
14-Sep-04 6.082 19-Sep-05 6.998 12-Oct-06 7.625 12-Oct-07 7.900 29-Oct-08
15-Sep-04 6.126 20-Sep-05 7.008 13-Oct-06 7.622 15-Oct-07 7.913 31-Oct-08
16-Sep-04 6.127 21-Sep-05 7.012 16-Oct-06 7.670 16-Oct-07 7.913 3-Nov-08
17-Sep-04 6.115 22-Sep-05 7.030 17-Oct-06 7.674 17-Oct-07 7.928 4-Nov-08
20-Sep-04 6.158 23-Sep-05 7.052 18-Oct-06 7.680 18-Oct-07 7.917 5-Nov-08
21-Sep-04 6.119 24-Sep-05 7.047 19-Oct-06 7.680 19-Oct-07 7.896 6-Nov-08
22-Sep-04 6.147 26-Sep-05 7.048 20-Oct-06 7.662 22-Oct-07 7.878 7-Nov-08
23-Sep-04 6.060 27-Sep-05 7.081 23-Oct-06 7.660 23-Oct-07 7.828 10-Nov-08
24-Sep-04 6.053 28-Sep-05 7.099 26-Oct-06 7.640 24-Oct-07 7.831 11-Nov-08
25-Sep-04 6.067 29-Sep-05 7.083 27-Oct-06 7.611 25-Oct-07 7.820 12-Nov-08
27-Sep-04 6.115 30-Sep-05 7.111 30-Oct-06 7.615 26-Oct-07 7.824 14-Nov-08
28-Sep-04 6.197 1-Oct-05 7.094 31-Oct-06 7.641 29-Oct-07 7.824 17-Nov-08
29-Sep-04 6.254 3-Oct-05 7.146 1-Nov-06 7.614 30-Oct-07 7.856 18-Nov-08
30-Sep-04 6.246 5-Oct-05 7.141 2-Nov-06 7.603 31-Oct-07 7.862 19-Nov-08
1-Oct-04 6.406 6-Oct-05 7.170 3-Nov-06 7.630 1-Nov-07 7.860 20-Nov-08
4-Oct-04 6.449 7-Oct-05 7.146 6-Nov-06 7.661 2-Nov-07 7.861 21-Nov-08
5-Oct-04 6.488 10-Oct-05 7.169 7-Nov-06 7.632 5-Nov-07 7.869 24-Nov-08
6-Oct-04 6.510 11-Oct-05 7.150 8-Nov-06 7.602 6-Nov-07 7.891 25-Nov-08
7-Oct-04 6.588 13-Oct-05 7.138 9-Nov-06 7.600 7-Nov-07 7.900 26-Nov-08
8-Oct-04 6.578 14-Oct-05 7.130 10-Nov-06 7.612 8-Nov-07 7.909 28-Nov-08
9-Oct-04 6.701 17-Oct-05 7.142 13-Nov-06 7.582 12-Nov-07 7.947 1-Dec-08
11-Oct-04 6.756 18-Oct-05 7.152 14-Nov-06 7.577 13-Nov-07 7.887 2-Dec-08
12-Oct-04 6.799 19-Oct-05 7.170 15-Nov-06 7.525 14-Nov-07 7.877 3-Dec-08
14-Oct-04 6.756 20-Oct-05 7.175 16-Nov-06 7.541 15-Nov-07 7.880 4-Dec-08
15-Oct-04 6.776 21-Oct-05 7.157 17-Nov-06 7.526 16-Nov-07 7.886 5-Dec-08
16-Oct-04 6.789 24-Oct-05 7.109 20-Nov-06 7.481 19-Nov-07 7.879 8-Dec-08
18-Oct-04 6.867 25-Oct-05 7.140 21-Nov-06 7.465 20-Nov-07 7.877 10-Dec-08
19-Oct-04 6.756 26-Oct-05 7.102 22-Nov-06 7.475 21-Nov-07 7.890 11-Dec-08
20-Oct-04 6.758 27-Oct-05 7.087 23-Nov-06 7.445 22-Nov-07 7.887 12-Dec-08
21-Oct-04 6.725 28-Oct-05 7.088 24-Nov-06 7.441 23-Nov-07 7.888 15-Dec-08
23-Oct-04 6.628 31-Oct-05 7.101 27-Nov-06 7.392 26-Nov-07 7.889 16-Dec-08
25-Oct-04 6.699 2-Nov-05 7.100 28-Nov-06 7.371 27-Nov-07 7.902 17-Dec-08
26-Oct-04 6.883 3-Nov-05 7.090 29-Nov-06 7.385 28-Nov-07 7.918 18-Dec-08
27-Oct-04 6.879 4-Nov-05 7.096 30-Nov-06 7.422 29-Nov-07 7.922 19-Dec-08
28-Oct-04 6.925 7-Nov-05 7.124 1-Dec-06 7.419 30-Nov-07 7.908 22-Dec-08
29-Oct-04 6.876 8-Nov-05 7.128 4-Dec-06 7.390 3-Dec-07 7.893 23-Dec-08
30-Oct-04 6.923 9-Nov-05 7.135 5-Dec-06 7.387 4-Dec-07 7.887 24-Dec-08
1-Nov-04 6.922 10-Nov-05 7.129 6-Dec-06 7.393 5-Dec-07 7.872 26-Dec-08
2-Nov-04 6.932 11-Nov-05 7.109 7-Dec-06 7.400 6-Dec-07 7.886 29-Dec-08
3-Nov-04 6.937 14-Nov-05 7.099 8-Dec-06 7.392 7-Dec-07 7.876 30-Dec-08
4-Nov-04 6.952 16-Nov-05 7.103 11-Dec-06 7.514 10-Dec-07 7.883 31-Dec-08
5-Nov-04 7.183 17-Nov-05 7.104 12-Dec-06 7.652 11-Dec-07 7.888 1-Jan-09
6-Nov-04 7.228 18-Nov-05 7.093 13-Dec-06 7.599 12-Dec-07 7.887 2-Jan-09
8-Nov-04 7.313 21-Nov-05 7.086 14-Dec-06 7.698 13-Dec-07 7.891 7-Jan-09
9-Nov-04 7.193 22-Nov-05 7.079 15-Dec-06 7.651 14-Dec-07 7.896 9-Jan-09
10-Nov-04 7.158 23-Nov-05 7.069 18-Dec-06 7.613 17-Dec-07 7.903 12-Jan-09
11-Nov-04 7.244 24-Nov-05 7.053 19-Dec-06 7.597 18-Dec-07 7.896 13-Jan-09
13-Nov-04 7.219 25-Nov-05 7.068 20-Dec-06 7.600 19-Dec-07 7.889 14-Jan-09
16-Nov-04 7.136 28-Nov-05 7.076 21-Dec-06 7.598 20-Dec-07 7.873 15-Jan-09
17-Nov-04 7.190 29-Nov-05 7.070 22-Dec-06 7.591 24-Dec-07 7.872 16-Jan-09
18-Nov-04 7.144 30-Nov-05 7.082 26-Dec-06 7.601 26-Dec-07 7.866 19-Jan-09
20-Nov-04 7.072 1-Dec-05 7.083 27-Dec-06 7.618 27-Dec-07 7.864 20-Jan-09
22-Nov-04 7.071 2-Dec-05 7.094 28-Dec-06 7.614 28-Dec-07 7.824 21-Jan-09
23-Nov-04 7.120 5-Dec-05 7.088 29-Dec-06 7.611 31-Dec-07 7.793 22-Jan-09
24-Nov-04 7.205 6-Dec-05 7.093 2-Jan-07 7.536 1-Jan-08 7.760 23-Jan-09
25-Nov-04 7.216 7-Dec-05 7.096 3-Jan-07 7.533 2-Jan-08 7.741 27-Jan-09
27-Nov-04 7.192 8-Dec-05 7.095 4-Jan-07 7.578 3-Jan-08 7.773 28-Jan-09
29-Nov-04 7.204 9-Dec-05 7.104 5-Jan-07 7.564 4-Jan-08 7.750 29-Jan-09
30-Nov-04 7.201 12-Dec-05 7.116 8-Jan-07 7.482 31-Jan-08 7.579 30-Jan-09
1-Dec-04 7.181 13-Dec-05 7.113 9-Jan-07 7.488 1-Feb-08 7.505 2-Feb-09
2-Dec-04 6.838 14-Dec-05 7.112 10-Jan-07 7.511 4-Feb-08 7.507 3-Feb-09
3-Dec-04 6.794 15-Dec-05 7.095 11-Jan-07 7.524 6-Feb-08 7.581 4-Feb-09
4-Dec-04 6.727 16-Dec-05 7.098 12-Jan-07 7.737 7-Feb-08 7.490 5-Feb-09
6-Dec-04 6.782 19-Dec-05 7.102 15-Jan-07 7.844 8-Feb-08 7.477 6-Feb-09
7-Dec-04 6.786 20-Dec-05 7.122 16-Jan-07 7.765 11-Feb-08 7.527 9-Feb-09
8-Dec-04 6.758 21-Dec-05 7.114 17-Jan-07 7.810 12-Feb-08 7.568 10-Feb-09
9-Dec-04 6.744 22-Dec-05 7.129 18-Jan-07 7.804 13-Feb-08 7.555 11-Feb-09
10-Dec-04 6.707 23-Dec-05 7.122 19-Jan-07 7.839 14-Feb-08 7.588 12-Feb-09
11-Dec-04 6.670 26-Dec-05 7.114 22-Jan-07 7.923 15-Feb-08 7.565 13-Feb-09
13-Dec-04 6.746 27-Dec-05 7.125 23-Jan-07 7.876 18-Feb-08 7.608 16-Feb-09
14-Dec-04 6.796 28-Dec-05 7.113 24-Jan-07 7.858 19-Feb-08 7.582 17-Feb-09
15-Dec-04 6.805 29-Dec-05 7.120 25-Jan-07 7.896 20-Feb-08 7.670 18-Feb-09
16-Dec-04 6.711 30-Dec-05 7.114 29-Jan-07 7.908 21-Feb-08 7.695 19-Feb-09
17-Dec-04 6.708 2-Jan-06 7.099 31-Jan-07 7.764 22-Feb-08 7.647 24-Feb-09
18-Dec-04 6.752 3-Jan-06 7.079 2-Feb-07 7.698 25-Feb-08 7.668 25-Feb-09
20-Dec-04 6.735 4-Jan-06 7.089 5-Feb-07 7.717 26-Feb-08 7.690 26-Feb-09
21-Dec-04 6.684 5-Jan-06 7.086 6-Feb-07 7.754 27-Feb-08 7.685 27-Feb-09
22-Dec-04 6.620 9-Jan-06 7.081 7-Feb-07 7.742 28-Feb-08 7.691 2-Mar-09
23-Dec-04 6.555 10-Jan-06 7.092 8-Feb-07 7.779 29-Feb-08 7.617 3-Mar-09
24-Dec-04 6.556 12-Jan-06 7.101 9-Feb-07 7.826 3-Mar-08 7.557 4-Mar-09
27-Dec-04 6.555 13-Jan-06 7.105 12-Feb-07 7.827 4-Mar-08 7.584 5-Mar-09
28-Dec-04 6.510 16-Jan-06 7.089 13-Feb-07 7.907 5-Mar-08 7.592 6-Mar-09
29-Dec-04 6.526 17-Jan-06 7.087 14-Feb-07 8.084 7-Mar-08 7.719 9-Mar-09
30-Dec-04 6.550 18-Jan-06 7.089 15-Feb-07 8.063 10-Mar-08 7.710 12-Mar-09
31-Dec-04 6.554 19-Jan-06 7.096 19-Feb-07 8.026 11-Mar-08 7.711 13-Mar-09
1-Jan-05 6.704 20-Jan-06 7.096 20-Feb-07 7.998 12-Mar-08 7.702 16-Mar-09
3-Jan-05 6.562 23-Jan-06 7.104 21-Feb-07 7.957 13-Mar-08 7.695 17-Mar-09
4-Jan-05 6.529 24-Jan-06 7.191 22-Feb-07 7.932 14-Mar-08 7.665 18-Mar-09
5-Jan-05 6.535 25-Jan-06 7.283 23-Feb-07 7.946 17-Mar-08 7.714 19-Mar-09
6-Jan-05 6.579 30-Jan-06 7.296 26-Feb-07 7.896 18-Mar-08 7.650 20-Mar-09
7-Jan-05 6.547 31-Jan-06 7.281 27-Feb-07 7.880 19-Mar-08 7.669 23-Mar-09
8-Jan-05 6.562 1-Feb-06 7.294 28-Feb-07 7.980 24-Mar-08 7.791 24-Mar-09
10-Jan-05 6.577 2-Feb-06 7.276 1-Mar-07 7.953 25-Mar-08 7.775 25-Mar-09
11-Jan-05 6.552 3-Feb-06 7.274 2-Mar-07 7.951 26-Mar-08 7.809 26-Mar-09
12-Jan-05 6.573 6-Feb-06 7.271 5-Mar-07 7.959 27-Mar-08 7.821 30-Mar-09
13-Jan-05 6.567 7-Feb-06 7.267 6-Mar-07 7.956 28-Mar-08 7.955 31-Mar-09
14-Jan-05 6.601 8-Feb-06 7.293 7-Mar-07 7.960 31-Mar-08 7.959
15-Jan-05 6.710 10-Feb-06 7.291 8-Mar-07 7.991
17-Jan-05 6.704 13-Feb-06 7.278 9-Mar-07 8.025
18-Jan-05 6.704 14-Feb-06 7.298 12-Mar-07 7.949
19-Jan-05 6.744 15-Feb-06 7.302 13-Mar-07 7.966
20-Jan-05 6.738 17-Feb-06 7.287 14-Mar-07 7.974
22-Jan-05 6.736 20-Feb-06 7.318 15-Mar-07 7.991
24-Jan-05 6.749 21-Feb-06 7.315 16-Mar-07 8.030
25-Jan-05 6.758 22-Feb-06 7.340 20-Mar-07 8.052
27-Jan-05 6.763 23-Feb-06 7.373 21-Mar-07 8.079
28-Jan-05 6.741 24-Feb-06 7.355 22-Mar-07 7.972
29-Jan-05 6.714 27-Feb-06 7.370 23-Mar-07 7.948
31-Jan-05 6.708 28-Feb-06 7.358 26-Mar-07 7.990
1-Feb-05 6.714 1-Mar-06 7.409 28-Mar-07 7.983
2-Feb-05 6.687 2-Mar-06 7.422 29-Mar-07 7.968
3-Feb-05 6.728 3-Mar-06 7.422 30-Mar-07 7.976
4-Feb-05 6.723 6-Mar-06 7.466
5-Feb-05 6.718 7-Mar-06 7.442
7-Feb-05 6.646 8-Mar-06 7.411
8-Feb-05 6.545 9-Mar-06 7.399
9-Feb-05 6.533 10-Mar-06 7.409
10-Feb-05 6.490 13-Mar-06 7.413
11-Feb-05 6.437 14-Mar-06 7.418
12-Feb-05 6.456 16-Mar-06 7.416
14-Feb-05 6.479 17-Mar-06 7.389
15-Feb-05 6.508 20-Mar-06 7.403
16-Feb-05 6.530 21-Mar-06 7.370
17-Feb-05 6.505 22-Mar-06 7.391
18-Feb-05 6.483 23-Mar-06 7.388
19-Feb-05 6.511 24-Mar-06 7.388
21-Feb-05 6.507 27-Mar-06 7.434
22-Feb-05 6.495 28-Mar-06 7.430
23-Feb-05 6.504 29-Mar-06 7.495
24-Feb-05 6.497 31-Mar-06 7.546
25-Feb-05 6.494
26-Feb-05 6.469
28-Feb-05 6.536
1-Mar-05 6.606
2-Mar-05 6.629
3-Mar-05 6.634
4-Mar-05 6.614
5-Mar-05 6.579
7-Mar-05 6.528
9-Mar-05 6.552
10-Mar-05 6.569
11-Mar-05 6.562
12-Mar-05 6.564
14-Mar-05 6.570
15-Mar-05 6.589
16-Mar-05 6.626
17-Mar-05 6.656
18-Mar-05 6.672
19-Mar-05 6.665
21-Mar-05 6.697
22-Mar-05 6.718
23-Mar-05 6.728
24-Mar-05 6.663
28-Mar-05 6.670
29-Mar-05 6.670
30-Mar-05 6.653
31-Mar-05 6.691
7.605 FY10 YTD 6.910
10 Yr G-Sec Date 10 Yr G-Sec
8.018 2-Apr-09 6.935
7.993 6-Apr-09 7.024
7.954 8-Apr-09 6.922
7.975 9-Apr-09 6.746
7.996 13-Apr-09 6.710
7.966 15-Apr-09 6.652
8.058 16-Apr-09 6.491
8.059 17-Apr-09 6.409
8.122 20-Apr-09 6.386
8.115 21-Apr-09 6.222
8.214 22-Apr-09 6.093
8.026 23-Apr-09 6.162
7.923 24-Apr-09 6.134
7.886 27-Apr-09 6.098
7.898 28-Apr-09 6.181
7.807 29-Apr-09 6.228
7.928 4-May-09 6.352
7.943 5-May-09 6.256
7.952 6-May-09 6.213
7.940 7-May-09 6.248
7.811 8-May-09 6.289
7.833 11-May-09 6.343
7.838 12-May-09 6.396
7.922 13-May-09 6.374
7.951 14-May-09 6.385
7.975 15-May-09 6.411
8.033 18-May-09 6.255
8.026 19-May-09 6.415
8.064 20-May-09 6.362
8.097 21-May-09 6.391
8.076 22-May-09 6.471
8.097 25-May-09 6.515
8.108 26-May-09 6.547
8.093 27-May-09 6.625
8.121 28-May-09 6.699
8.145 29-May-09 6.703
8.184 1-Jun-09 6.694
8.237 2-Jun-09 6.686
8.287 3-Jun-09 6.591
8.284 4-Jun-09 6.562
8.260 5-Jun-09 6.546
8.344 8-Jun-09 6.604
8.408 9-Jun-09 6.644
8.362 10-Jun-09 6.759
8.341 11-Jun-09 6.842
8.369 12-Jun-09 6.897
8.463 15-Jun-09 6.885
8.665 16-Jun-09 6.906
8.625 17-Jun-09 6.890
8.578 18-Jun-09 6.908
8.725 19-Jun-09 6.918
8.622 22-Jun-09 6.949
8.625 23-Jun-09 7.002
8.699 24-Jun-09 7.015
8.806 25-Jun-09 7.001
8.796 26-Jun-09 7.001
8.832 29-Jun-09 7.005
8.928 30-Jun-09 7.012
9.142 1-Jul-09 6.984
9.303 2-Jul-09 6.889
9.314 3-Jul-09 6.824
9.334 6-Jul-09 7.001
9.465 7-Jul-09 7.075
9.394 8-Jul-09 7.002
9.474 9-Jul-09 6.995
9.397 10-Jul-09 7.027
9.284 13-Jul-09 6.952
9.127 14-Jul-09 7.002
9.076 15-Jul-09 7.030
9.123 16-Jul-09 7.012
9.042 17-Jul-09 6.981
9.024 20-Jul-09 7.052
9.116 21-Jul-09 7.056
9.096 22-Jul-09 7.059
9.407 23-Jul-09 7.032
9.331 24-Jul-09 7.057
9.319 27-Jul-09 7.092
9.262 28-Jul-09 7.129
9.222 29-Jul-09 7.109
9.016 30-Jul-09 7.134
9.018 31-Jul-09 7.151
9.068 3-Aug-09 7.001
9.081 4-Aug-09 7.004
8.897 5-Aug-09 7.045
8.951 6-Aug-09 7.101
9.078 7-Aug-09 7.143
9.184 10-Aug-09 7.096
9.100 11-Aug-09 7.065
9.153 12-Aug-09 7.033
9.183 13-Aug-09 7.030
9.094 14-Aug-09 7.105
9.006 17-Aug-09 7.091
8.903 18-Aug-09 7.152
8.897 20-Aug-09 7.179
8.809 21-Aug-09 7.236
8.710 24-Aug-09 7.330
8.677 25-Aug-09 7.319
8.568 26-Aug-09 7.187
8.502 27-Aug-09 7.183
8.485 28-Aug-09 7.296
8.503 31-Aug-09 7.430
8.453 1-Sep-09 7.438
8.360 2-Sep-09 7.370
8.364 3-Sep-09 7.457
8.278 4-Sep-09 7.466
8.201 7-Sep-09 7.324
8.083 8-Sep-09 7.374
8.152 9-Sep-09 7.333
8.374 10-Sep-09 7.371
8.385 11-Sep-09 7.359
8.445 14-Sep-09 7.261
8.405 15-Sep-09 7.233
8.611 16-Sep-09 7.064
8.588 17-Sep-09 7.152
8.437 18-Sep-09 7.075
8.635 22-Sep-09 7.135
8.454 23-Sep-09 7.080
8.295 24-Sep-09 7.089
8.092 25-Sep-09 7.130
8.052 29-Sep-09 7.155
8.063 1-Oct-09 7.213
7.783 5-Oct-09 7.195
7.812 6-Oct-09 7.209
7.906 7-Oct-09 7.284
7.934 8-Oct-09 7.209
7.706 9-Oct-09 7.284
7.704 12-Oct-09 7.345
7.585 14-Oct-09 7.374
7.575 15-Oct-09 7.370
7.565 16-Oct-09 7.405
7.778 20-Oct-09 7.404
7.598 21-Oct-09 7.344
7.528
7.451
7.570
7.605
7.712
7.710
7.708
7.717
7.693
7.648
7.461
7.508
7.474
7.363
7.252
7.188
7.146
7.204
7.114
7.080
7.051
7.020
6.785
6.810
6.760
6.694
6.617
6.474
6.162
6.161
6.015
5.865
5.499
5.518
5.617
5.681
5.598
5.565
5.557
5.437
5.262
5.242
5.356
6.155
6.254
6.253
5.999
6.067
6.038
6.093
5.762
5.760
6.009
6.014
5.908
5.967
6.006
6.166
6.255
5.988
5.822
5.835
5.904
5.774
5.772
5.951
5.895
5.867
5.880
6.031
6.094
6.093
6.028
6.189
6.199
6.136
6.020
6.026
6.038
6.152
6.081
6.301
6.527
6.874
7.074
6.309
6.534
6.467
6.463
6.510
6.639
6.704
6.804
6.971
7.075
7.010
Q1FY2009 Q2FY2009 Q3FY2009 Q4FY2009 Q1FY2010 Q2FY2010E Q3FY2010E
Company name Year End Conso. /Adj. net profit
Adj. net profit
Adj.
(Rsnet
in profit
mn)Adj.(Rsnet
in profit
mn)Adj.(Rsnet
inprofit
mn)
Adj.(Rs
net
inprofit
mn) Adj.
(Rs in
netmn)
profit (Rs in mn)
Standalone
(Rs in mn) (Rs in mn) (Rs in mn) (Rs in mn) (Rs in mn) (Rs in mn) (Rs in mn)
ACC December C 2,467 2,600 2,610 3,993 4,710
BHEL March S 3,844 6,158 7,906 13,475 4,706
Bharti Airtel March C 22,100 16,681 19,764 20,477 26,951
DLF March C 18,640 19,354 6,708 1,591 3,960
Grasim Inds March C 6,719 4,864 4,596 5,688 7,440
HDFC March S 4,681 5,342 5,468 7,334 5,649
HDFC Bank March S 4,644 5,280 4,294 6,309 6,061
Hero Honda Motor March S 2,729 3,063 3,004 4,022 5,001
HUL March S 5,435 4,565 6,587 4,862 5,382
Hindalco March S 6,968 7,200 5,448 2,688 4,806
ICICI Bank March S 7,280 10,142 12,722 7,438 8,782
Infosys March C 13,020 14,320 16,410 16,130 15,270
ITC March S 7,487 8,027 9,032 8,090 8,787
JP Asso March S 1,252 2,031 1,655 3,853 2,495
L&T March S 5,024 4,603 6,041 10,846 7,271
M&M March S 1,593 1,766 12 4,181 4,009
Maruti March S 4,659 2,961 2,136 2,431 5,835
NTPC March S 17,265 21,105 22,509 21,134 21,936
ONGC March S 65,929 48,084 24,748 22,068 48,479
Rel. Comm. March C 15,122 15,308 14,103 14,543 16,464
Reliance Inds. March S 41,100 41,220 35,922 38,543 36,360
Reliance Infra. March S 2,525 2,890 2,512 3,462 3,166
SBI March C 16,409 25,906 36,076 33,288 27,585
Sterlite Inds. March C 11,511 12,855 5,262 5,244 6,727
Sun Pharma. March C 5,015 5,128 4,086 3,949 1,638
Tata Motors March C 10,631 2,755 (845) 5,914 (5,984)
Tata Power Co. March C 2,479 2,618 1,151 3,546 5,528
Tata Steel March C 44,338 50,838 10,146 (26,265) (20,142)
TCS March C 12,906 12,710 13,621 13,328 15,339
Wipro March C 8,956 9,782 10,039 10,100 10,155

Total 372,726 370,155 293,720 272,259 294,365 407,170 427,529

Tata Motors S 5,150 2754.70 -845.40 5914.20 2,200


Tata Steel S 16,869 20278.90 5440.20 14592.90 7,898

Total 339,777 339,595 289,015 313,118 330,590 373,555 392,232

YoY growth (%) (21.0)


QoQ growth (%) 8.1

YoY growth (%) (2.7)


QoQ growth (%) 5.6
Sensex net profit (Rs in mn)
Q1FY2009 339,777
Q2FY2009 339,595 Sensex net profit (Rs in mn)
Q3FY2009 289,015 360,000
Q4FY2009 313,118
Q1FY2010 330,590
340,000

320,000

300,000

280,000
Q1FY2009 Q2FY2009 Q3FY2009 Q4FY2009 Q1FY2010
Q4FY2010E
Adj. net profitMarket
(Rs in cap
mn) Q1FY2010 Q1FY2009
(Rs in mn) (Rs in mn)

448,905 25,914,163

411,844 25,914,163

Based on FY2009 (Tata Steel and Tata Motors - consolidated)


P/E = Price / EPS, so EPS865
= Price / (P/E)
995.26 1094.79
P/E = Market cap. / Adjusted
20 net profit 19706.21

Based on FY2009 (Tata Steel and Tata Motors - standalone)


P/E = Price / EPS, so EPS847
= Price / (P/E)
949.04 1043.95
P/E = Market cap. / Adjusted
20 net profit 18791.01

Based on trailing 4 quarters


P/E = Price / EPS, so EPS814
= Price / (P/E)
P/E = Market cap. / Adjusted
21 net profit

Based on FY2010E
P/E = Price / EPS, so EPS973
= Price / (P/E)
P/E = Market cap. / Adjusted
18 net profit