CMA(Dr.) Ashok Panigrahi

The primary objective of this research is to determine demographic factors that influence the adoption of internet banking services to improve the situation. As banks are spending a lot of money and time on technology to provide easy and better banking services, hence it becomes critical to examine whether technological advances improve the extent of customer satisfaction. An empirical study has been carried out with the help of 372 respondents in the district of Ganjam, Odisha, India who have access to technology-based banking services. The results of the chi-square test show that there are relationships between demographic factors and various technological banking services provided by the banks to the customers. By using factor analysis and multiple regression analysis it is also inferred from the study that the intense use of technology has negative effects on users' openness to technology-based banking services. This study has clarified many demographical factors which affect the acceptance of technological banking services among the customers in the Ganjam district and has suggested the required measures to adopt more customer-friendly e-banking services. Keywords: Demographic Factors, Banking Industry, Electronic Payment, E-banking

This paper is an attempt to highlight the growth, prospect, and challenges of tourism industry in is a unique place for tourist because of its long coastal lines, religious destinations, rich cultural heritage, historical monuments, and diversified wildlife. Hospitality of the local people makes Odisha as one of the best tourist destinations in India. It has more opportunities for religious tourism, medical tourism, heritage tourism, adventure tourism, rural tourism etc. Lack of good connectivity, safety of travellers, hotels of international standard and pollution are the basic challenges before this sector. The data have been collected from secondary source and that is from different Statistical Bulletins, Department of Tourism, and Govt. of Odisha. The researcher to arrive at any conclusion has used descriptive and inferential statistics like regression and ANOVA. The major finds of the study recommend that the GDP of the state depended on the tourism sector. A detailed analysis on different aspects of tourism in Odisha recommended that the growth of tourism in Odisha possible by government intervention on mitigating challenges of this sector in general and popularising tourist destinations in specific term. Keywords: Accommodation, Hospitality, Lodging, Tourist, and Tourism

Purpose:  All of the choices made in the workplace concerning cash, receivables, inventory, and payables influence how a corporation maintains its liquidity level. Liquidity plays a vital role in the successful functioning of every business. The important part in managing working capital is maintaining liquidity on a day-to-day basis to ensure the smooth running of the organisation and to meet its obligations. Hence, it is very important to keep a close eye on the liquidity position of the company as without it, the company cannot survive. But efforts to increase the profitability would tend to reduce firms' liquidity and too much attention on liquidity would tend to affect profitability. No doubt, every firm tries to maximise profitability by maintaining liquidity. But the question arises, is it the liquidity or profitability that helps in maximizing shareholder’s wealth by increasing the share price of Indian cement companies? Hence, the study is aimed to understand the impact of liquidity and profitability on the share price of Indian cement companies. Approach: To determine wheather investors in the cement sector should prefer companies those are liquid or profitable, we applied the t-test, correlation test, and the resultant p-value. It is found that, having a quicker cash conversion cycle (CCCy) increases the company's market value indicating that, higher the liquidity, more is the chances that the share price may go up. Findings: It is found that the profitability in cement companies isn't as high as the company's ability to pay its debts, i.e. liquidity. In other words, the liquidity of Indian cement companies are more and the profitability is less, and the market value of a firm rises in tandem with the growth in its liquidity. Moreover, when the market value grows, the CCC decreases, whereas the economic value added (EVA) increases. Value: Prior studies reveal that the working capital requirements of Indian cement companies are much more as compared to other industries. Although low operational cash affects the daily operations of the business, excess working capital usage will harm the firm's profitability. Hence, the question, why do Indian cement businesses need so much of working capital? This study's purpose was to answer it. The findings of this research states that, companies believe that maintaining liquidity will increase their share price. Paper Type: Conceptual Research Keywords: Liquidity, Profitability, Market Capitalization, Economic value added (EVA), Market Price

Theoretical and practical features of the widely used discounted cash flow (DCF) valuation approach are examined in depth in this paper. This research evaluates Exide Industries by using the DCF Valuation technique. It is widely accepted that the discounted cash flow approach is an effective tool for analyzing the situation of an organization even in the most complicated circumstances. The DCF approach, on the other hand, is prone to huge assumption bias, and even little modifications in an analysis' underlying assumptions may substantially affect the valuation findings. As a result, of the sensitivity analysis, we discovered bullish, base, and worst-case scenarios with target share prices of Rs. 253.25, Rs. 171.37, and Rs.133.25, respectively, by adjusting growth and WACC (Weighted-Average Cost of Capital) values. Keywords: DCF, Stock Valuation, Exide Industries, WACC, Cash Flow, Battery Industry

Rapido is the bike taxi service provider, which connects travellers to drivers for short distance drive. It is fundamentally a bike taxi form of Uber, a lot less expensive and more helpful in rush hour traffic as monstrous as Bengaluru’s. India’s biggest Bike Taxi service provider and accessible more than 11 urban areas and most individuals need every day travel simpler, more secure, and moderate, there are more motivations to pick Rapido Rides and reach on time with low fares and efficiently. Founded by IIT grad Aravind Sanka, Pavan Guntupalli, and Rishikesh SR in November 2015, and Investors such as former Google India Head RajanAnandan and Pawan Munjal Of Hero MotoCorp have stakes in Rapido. Rapido competes with the other organisation on least fares and give promotion code to all clients to get more discount on their cost and get more advantages by Rapido. It likewise gives an occasion for individuals with a bike (with a proper driving permit) to turn into a rider on the platform and bring in extra additional cash in their extra time. Their definitive vision is to innovate consistent commuting for all, directly at your doorstep. Joining top ability, problematic advancements, and development. Keywords: Rapido, Bike Taxi, Traffic, Promotion code.

The goal for making this paper on conglomerates is to introduce the rising trend of conglomerates in big companies. This paper shall introduce what might be the reasons for Conglomerates, and their increasing trends. What are the benefits that companies enjoy being a conglomerate and what might be the disadvantages for it too? Further, the conglomerates are classified in two types, which are also explained with examples. Then we have taken examples of many companies to explain details about conglomeration. At the end there is a case study on Facebook, about how it acquired some companies and what the effects on both companies actually were, in terms of growth and benefit. Keywords: Conglomerate, Market share, MNC, Facebook, Expansion, Diversification.

Kingfisher Airlines Ltd. was owned by biggest liquor tycoon of India with an ambition to become an industry leader. Growing share in aviation market, wide number of destinations and numerous awards, depicted a very attractive and innovative picture for the company. Kingfisher airlines achieved success in gaining customer satisfaction by offering great and comfortable flying experience to its passengers. However, in the Indian aviation sector, Kingfisher Airlines had a short but lasting impression. By the end of 2011, Kingfisher Airlines suffered a huge financial crisis. Kingfisher Airlines, UB Holdings Ltd. was provided loan by many private and public sector banks in India, considering the reputation of its CMD. He was unable to repay loans to many public sector banks, however private banks recovered all loans. This paper describes the downfall of Kingfisher Airlines and the study of financial condition of United Breweries Holdings. Here, we have tried to understand the business of Kingfisher Airlines and studied the role of banks in extending loans and recovery attempts. Moreover, we have attempted to emphasize the reasons behind the financial failure of the company from the point of view of mistakes in strategic decision making. Keywords: Kingfisher airlines, Vijay Mallya, Aviation industry, Bankrupt.

Integrated Marketing Communication is a business process or a strategy used to plan, develop, execute for brand communication program or to describe the product to your customers. The advancement of powerful communication mix in pharmaceutical advertising is complex task which identifies the target audience, deciding the correspondence targets, designing a message, choosing method of delivery and collecting feedback. Pharmaceutical promotion is divided in two phases’ in-clinic and out-of-clinic which includes information leaflets, samples, gifts and clinical-trails, seminars, camps, advertisement, etc. The paper describes about Marketing mix which includes product mix, price mix and distribution channels. It also differentiate the promotional tools like internet based, Electronic detailing, Personal selling, E-Sampling used synergistically for prescription and OTC drugs while promoting the pharmaceutical products by using Integrated Marketing Strategy. Pharmaceutical industry faces many challenges like regulatory barriers and doctor’s non-readiness for prescribing the drug products this can be overcome by convincing doctors by providing them adequate information about the quality of product and advantages over competitor’s edge whereas in case of regulatory they must follow the norms led down by the authorities. Keywords: IMC, Pharmaceutical, OTC, Marketing Mix, FDA.

This paper is an attempt to highlight the socio-economic and religious life of tribal rubber cultivators in Tripura. It has been found that the majority of cultivators have a monthly income between Rs. 10,000-20,000. Income from rubber cultivation fluctuates due to the quality and quantity of latex. Hinduism is the popular religion among rubber cultivators. Rubber cultivators have the basic knowledge of writing, speaking and normal arithmetic calculation. The majority of households are actively involved in politics. Firewood is the main source of fuel, but the popularity of LPG is also growing. Electricity is the main source of energy. The use of tape water and tube well is increasing continuously. So, it can be concluded that the social-economic life of tribal rubber cultivators is empowered after rehabilitation in the rubber plantation. Keywords: Empowerment, Revenue, Religion, Rubber, Cultivation

Background: In spite of many years of rigorous exploration and several papers after Modigliani and Millers’ original work, surprisingly there is absence of agreement even today among the finance specialists on the fundamental issue of corporate finance, concerning why finance managers utilize various combinations of debt and equity. Most of the researchers opine differently as to what is the ideal debt and equity formation, which can maximize the profitability of the origination. The degree of collision of capital structure on profitability as well as to scrutinize the model debt and equity structure in the selected IT companies of India is the prime intent of the study. We have chosen the top five IT companies of India from the period 2014-2015 to 2018-19 based on market capitalisation. Different analysis such as Proportion Analysis, Correlation Analysis and Regression Analysis are taken into consideration to find out the noteworthy association between the debt-equity mix and profitability of companies.  Findings: The after-effects of correlation examination show that, both DER and DTA have a negative relationship with NP, though not significantly, while both DER and DTA have a significant negative relationship with ROA. Nevertheless, all other profitability factors for example ROCE, RONW and RLTF have a strong and positive relationship with DER and DTA, which may be a result of the advantage of trading on equity dealt in by the organization. As the study based on the experimental variability’s such as NP, ROCE, RONW, ROA and ROLF, with the predictor variable as Debt Equity Ratio (DER) and Debt to Total Assets Ratio (DTA), taken together to establish the association with capital structure. After the analysis, results shows that, the R2 esteems as computed in the regression examination are 22.9%, 88.4%, 93.1%, 71.8% and 88.7%. It demonstrates that; expect Net Profit, which shows a moderate positive relationship but other variables show a strong positive relationship with capital structure.   Keywords: Capital Structure, Profitability, Debt-Equity, IT Industry, Ratio Analysis.

This study attempts to validate whether the working capital management strategies can be considered as the causes of good or bad financial performance of an organization, particularly in Indian cement industry. Whether the decisions of finance managers of Indian cement companies concerning the components of working capital such as account receivables, inventory, accounts paybles, cash holding etc. affect the firm’s performance individually and in total, a sample of 31 Indian cement companies listed on the Bombay Stock Exchange are being selected and their financial statements are analyzed for a period of 11-years (2010-2020). The findings of Pearson’s correlation coefficient and random effect regression model analysis show that there exists a negative relationship between financial performance measured in terms of return on assets (ROA) and inventory turnover period (ITP) as well as accounts payable period (APP). In contrast, a firm’s performance is not significantly affected by the accounts receivable period (ARP) and cash conversion cycle (CCC). Similarly, it has been observed that liquidity ratios such as current ratio (CR) and quick ratio (QR) have a significant positive association with ROA. Moreover, the size of the firms and leverage are inversely related to ROA but the age of the firms is not significantly affecting their financial performances.

This study looks into how artificial intelligence (AI) is changing the managerial and economic landscape in India. The paper examines how AI impacts the GDP growth, employment prospects, productivity and other business and economic aspects of the Indian economy. It also looks at how management practises are changing as a result of AI, notably in relation to the development of new business models, improved decision-making processes, and widespread task automation. The methodology entails comprehensive research of the available literature, case studies of significant Indian businesses, and an analysis of key statistical data. The results highlight how AI has the ability to considerably boost India's economic development and also recognise the need to address talent gaps and ethical issues at the same time. Insights on the future of AI in India are highlighted in the paper's conclusion, with a focus on the necessity of talent development and strategic adoption.

Stress is generally indicated as a deviation from normal functioning of body and mind. Stress can approach in an organization due to many reasons such as control over work, managerial style of manager etc. Stress in limited quantity is beneficial to organization and employee as well. It helps to achieve personal as well as goals of organization. But stress in excess quantity can cause harmful effects on the body, mind and psychology of employees. Stress can be measured by using psychological methods involving use of questionnaires. Physical measurement involve measuring of various physical constants of body such as blood pressure. Physiological measures include measurements of various hormonal levels etc. And the measures to relieve this stress include sports, music, dancing, hobbies etc. Excessive stress can be reduced by help of professional counsellors. But the stress at workplace is an important issue must be dealt with to achieve progress. Day by day challenges for human is increasing in many different fields as if progress in turn creates new problems. Slowly the nature of working has been changed and still these changes are in progress. Because of these changes, number of illnesses has been increased, morality and human aspects are faded and new problems are occurred every day, so that we are facing job stress which called “illness of the century”. As a measure to minimize stress, delegating some work, share burden with colleagues, leave and time off work with family and love ones, as well as reducing work overtime ranked highest as strategies for stress management. Findings of a number of studies on this aspect says that stress has a great impact on the professionals and thereby affects the level of productivity. Thus it is recommended that professionals should exhibit self-control and good self-esteem; engage in continuous professional development on skills for better organization, integration of work within specified project constraints and delegation of assignment, authority and breaking work into manageable parts so as to be able to cope with stress.

The financial performance of the top two companies of the FMCG sector HUL and ITC are analyzed in this research paper by using the two most popular financial tools of analysis i.e., ROE and ROA. Similar to the DuPont method, components of Return on Equity (ROE) and Return on Asset (ROA) are segregated to do the analysis of financial performance and to accomplish the objective. To calculate ROE and ROA, ratios such as net profit ratio (NPR), total asset turnover ratio (TATR), and equity multiplier (EQM) will be used. It is observed that the use of financial leverage was mainly responsible for the whole decrease in return on equity (ROE). In terms of return on equity, we found that the Asset Turnover Ratio increases somewhat, while in the case of ITC, the ratio either remains the same or slightly decreases in value. As a result, HUL's total asset turnover ratio (TATR) is greater than that of ITC, suggesting that HUL is more efficient in its asset use. We were able to demonstrate statistically, via the use of the One-way Anova test, that there is a significant meaningful association among the ratios. Keywords: Financial analysis, Return on Equity (ROE), Return on Asset (ROA), ITC, HUL, Du Pont Analysis

According to WHO coronavirus tracker, the novel virus COVID-19 has spread to an unprecedented 216 countries and territories as of March 27, 2020. The world is grappling with uncertainties and several countries have imposed restrictions that would severely affect the economic activities not just for now, but also for a prolonged period. After agriculture, textile sector is on the second rank. This sector is one of the oldest and it has accorded a big amount to the national economy, it gives about 15% of production value-addition, and about one third of our gross export earnings, it also serves employment to millions of people. It is a unique sector in this country. One of the finest and earliest that came into presence in India, it produces around 15% of total industrial production and contributes to 30% of exports and it is the second largest sector serving employment to Indian citizen after agriculture sector. Textile industry serves the most common requirement of citizens and of great importance, developing day-by-day and enhancing quality of Indian people. However, because of this Covid-19, this sector is at risk. The production, turnover, employment, export, everything has come down and it is very difficult to predict when things will revive in Indian textile sector. This paper is an analysis of the impact of Covid-19 on Indian Textile Sector. Keywords: Covid-19, Indian textile sector, Production, Exports, Imports.

Zomato started in 2008 underneath the name, ‘Foodiebay’ to begin with. Later in 2010, it had been renamed to ‘Zomato’. Constantly 2011, Zomato extended to increasingly urban regions the country over in Mumbai, Delhi NCR, Chennai, Bangalore, Kolkata and Pune. After that in the year 2012, the corporate extended working all around in various countries like the UAE, Qatar, Sri Lanka, UK, South Africa and Philippines. In the year 2013, Zomato had moved their organizations in Brazil, New Zealand, Turkey and Indonesia, with its applications and site open in various lingos isolated from English. After that in April 2014, Zomato impelled its organizations in Portugal Republic, trailed by Canada, Lebanon and Ireland around a similar time. The acquiring of Settled - based sustenance zone ‘Urban spoon’ signified the organization’s passageway into the United States, Canada and Australia, and conveyed it into direct test with ‘Wail’, ‘Zagat' and ‘Open Table’. With the introduction of .xxx zones in 2011, Zomato also impelled ‘zomato.xxx’, a site dedicated to finding spot to eat near to your territory. It later moved a print adjustment of the site substance named, ‘Citibank Zomato Restaurant Guide’, got together with Citibank in May 2012, at any rate later it was halted. Keywords: Zomato, Online food, Cloud kitchen, Bistros.

We all must agree that the word "trend" is now the buzzword of the stock market. As a part of investment strategy and analysis, it is always suggested that the investors should keep an eye on medium-term and short-term changes in addition to longer-term (secular) patterns. Traders and investors use the RSI as a momentum indicator. Overbought and oversold situations are indicated by RSI values between 70 and 30. Over the past two decades, several techniques have been developed to analyze NIFTY 50 data for investment purposes. In this paper, we have estimated the returns by looking at the two trends i.e., 50-50 and 60-40. In addition to this, how to trade and back-test our strategy is also explained. Applying these two RSI strategies to the NIFTY 50 chart revealed that 50-50 offers a higher long-term return, while 60-40 provides a superior short-term return. Finally, the strategies' returns F-statistics and P-values were calculated and analyzed to determine their significance level and acceptability. Keywords: Trading Strategy, RSI, Technical Indicator, Momentum Trading, Technical Analysis

Brand equity development has been a recent trend in the pharmaceutical industry and is seeing a rapid growth in this segment of the market. Brand equity is the most influential factor among various competitors and thus affects the industry in all sense. In the early days, the pharmaceutical industry did not take much note to the branding and to increase the market share. It has become essential to increase the brand equity among the consumers. The brand equity not only helps in attracting the consumers but also the people who are unaware about the brands that are existing. These methods are not only useful in the means to earn the brand equity but also help in the company to retain in the market with a good position among the competitors. These are also the key factors that affect the growth of the industries, not only the sales force is attributed to build the brand , but also the appropriate knowledge has to be provided to increase the standards of the brand. There are also chances that arises that the generic drugs are acquiring and affecting the branding of the drugs. Due to the rise in the generic market, the company must also make advances in their strategies. This includes the lowering of the prices of the drugs as well as the competition from these products. The impact of the brands in these days can be widely seen with the use of the various consumer-oriented strategies deployed by the Pharma companies in the development of their brands and in promoting their products. Apart from using, various advertisements to increase awareness about the products needs of the consumers are driving the ‘brand equity’. This will not only enhance the product marketing standards but also may establish a distinct mark as and when compared with other competitors. Keywords: Brand equity, Pharmaceutical organizations, Brand loyalty, Brand strategy, Brand awareness, Generics.

This study examines how the COVID-19 pandemic impacted stock market volatility and interconnectedness between India and other selected global economies. The analysis, using data from 2016 to 2024, reveals a substantial rise in volatility within both the Indian market and those of several other countries after the pandemic. Interestingly, the volatility transmission patterns also changed. While the Indian market’s volatility significantly influenced Brazil, China, and Mexico throughout the entire period, the influence of the US market became negligible post-pandemic. In contrast, Russia exhibited a weak but statistically significant impact on India’s volatility only after the pandemic. These findings highlight the lasting impact of the pandemic on global financial markets and emphasize the need for investors and policymakers to adapt. By understanding these new dynamics, investors can make more informed decisions, and policymakers can develop stronger risk management strategies and international coordination during periods of increased volatility. This study offers valuable insights for navigating the current financial landscape and the interconnectedness of emerging economies.

Dopamine — A neurotransmitter that plays a key role in the way the brain controls reward and pleasure centres as well as motivation. This relationship is significant because in the world of advertising where companies seek to link their products more favourably with emotional reactions it plays a lead role. This study investigates how dopamine interacts with various advertising genres, focusing on digital and traditional marketing strategies that affect consumer behaviour. The research examines how marketers can exploit dopamine-triggered reactions to lift revenues and boost customer engagement. The research aimed to find out what marketing strategies most successfully trigger the dopamine release processes and hence increase the likelihood of making a purchase.

This study explores the resilience of the Indian stock market in the face of global shocks in the post-pandemic era, focusing on its volatility dynamics and interconnections with international indices. Through a combination of Vector Autoregression (VAR), DCC-GARCH, and wavelet analysis, we analysed the time-varying relationships between the National Stock Exchange (NSE) of India and major global indices, including those from the U.S., Europe, Asia-Pacific, Hong Kong and Japan. Time series data of the selected indices have been collected for the period 1 January 2021 to 30 September 2024. Results reveal that while the NSE demonstrates resilience through rapid adjustments following shocks, it remains vulnerable to substantial spillover effects from markets such as the S&P 500 and European indices. Wavelet coherence analysis identifies periods of high correlation, particularly during major economic events, indicating that regional and global factors can periodically compromise market stability. Moreover, the DCC-GARCH results show a persistent but fluctuating correlation with specific markets, reflecting a connected and adaptive nature of the Indian market that is influenced by regional dynamics. This study emphasises the importance of strategic risk management. It highlights critical periods and indices that policymakers and investors should monitor closely to understand the economic resilience of the Indian financial market better. Further research could explore sector-specific impacts and the role of macroeconomic factors in shaping market responses.

This study examines the volatility and hedging effectiveness of commodities, specifically gold and oil, on the Indian stock market, focusing on both aggregate and sectoral indices. Data have been collected from 1 January 2021 to 31 December 2024 to cover the post-COVID-19 period. Utilizing the Asymmetric Dynamic Conditional Correlation Generalized Autoregressive Conditional Heteroskedasticity (ADCC-GARCH) model, we analyze the volatility spillovers and time-varying correlations between commodity and stock market returns. The analysis of spillover connectedness reveals that both commodities exhibit limited and inconsistent hedging potential. Gold demonstrates low and stable spillovers in most sectors, indicating its diminished role as a reliable safe-haven asset in Indian markets. Oil shows relatively higher but volatile spillover effects, particularly with sectors closely tied to energy and industrial activities, reflecting its dependence on external economic and geopolitical factors. This study contributes to the literature by providing a sector-specific perspective on commodity–stock market interactions, challenging conventional assumptions of hedging efficiency of gold and oil. It also emphasizes the need to explore alternative hedging mechanisms for risk management in the post-crisis phase.