Balance Sheet of Dabur India ------------------- in Rs. Cr.

-------------------
Mar 19 Mar-18 Mar-17 Mar-16 Mar-15

12 mths 12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS

Equity Share Capital 176.63 176.15 176.15 175.91 175.65

Total Share Capital 176.63 176.15 176.15 175.91 175.65
Reserves and Surplus 3,717.20 4,050.71 3,481.73 2,695.87 2,160.54
Total Reserves and Surplus 3,717.20 4,050.71 3,481.73 2,695.87 2,160.54
Employees Stock Options 74.99 0 0 0 0
Total Shareholders Funds 3,968.82 4,226.86 3,657.88 2,871.78 2,336.19

NON-CURRENT LIABILITIES

Long Term Borrowings 26.05 201.04 200.64 0 0

Deferred Tax Liabilities [Net] 8.32 96.03 98.28 64.47 50.35
Other Long Term Liabilities 4.56 4.25 3.71 0 0
Long Term Provisions 52.76 50.04 47.52 45.03 42.79
Total Non-Current Liabilities 91.69 351.36 350.15 109.5 93.14
CURRENT LIABILITIES
Short Term Borrowings 108.72 85.49 83.04 86.51 129.13
Trade Payables 998.32 960.62 914.52 931.34 756.64
Other Current Liabilities 330.14 123.98 157.05 187.75 170.22
Short Term Provisions 81.09 64.39 54.38 268.13 203.04
Total Current Liabilities 1,518.27 1,234.48 1,208.99 1,473.73 1,259.03
Total Capital And Liabilities 5,578.78 5,812.70 5,217.02 4,455.01 3,688.36
ASSETS

NON-CURRENT ASSETS

Tangible Assets 971.88 971.34 929.18 673.49 662.43

Intangible Assets 15.37 8.78 12.8 17.04 20.09
Capital Work-In-Progress 21.69 26.82 28.25 24.96 12.22
Other Assets 49.37 50.36 51.35 0 0
Fixed Assets 1,058.31 1,057.30 1,021.58 715.49 694.74
Non-Current Investments 2,236.74 2,719.69 2,319.03 1,763.39 1,407.00
Long Term Loans And Advances 13.14 9.61 8.92 23.66 12.3
Other Non-Current Assets 146.24 67.26 81.88 0.02 2
Total Non-Current Assets 3,454.43 3,853.86 3,431.41 2,502.56 2,116.04
CURRENT ASSETS
Current Investments 725.4 713.39 735.12 661.48 371.17
Inventories 732.9 704.79 599.27 615.56 550.6
Trade Receivables 431.46 321.34 333.25 420.69 338.79
Cash And Cash Equivalents 124.71 87.02 26.16 54.16 123.94
Short Term Loans And Advances 4.56 1.41 3.35 123.91 114.08
OtherCurrentAssets 105.32 130.89 88.46 76.65 73.74
Total Current Assets 2,124.35 1,958.84 1,785.61 1,952.45 1,572.32
Total Assets 5,578.78 5,812.70 5,217.02 4,455.01 3,688.36

OTHER ADDITIONAL INFORMATION

CONTINGENT LIABILITIES, COMMITMENTS

Contingent Liabilities 618.31 684.68 772.41 1,277.89 1,553.80

CIF VALUE OF IMPORTS

Raw Materials 0 0 0 38.88 26.4

Stores, Spares And Loose Tools 0 0 0 0.38 2.25
Trade/Other Goods 0 0 0 102.96 37.66
Capital Goods 0 0 0 6.13 6.67

EXPENDITURE IN FOREIGN EXCHANGE

Expenditure In Foreign Currency 84.46 80.39 93.23 4.66 4.54

REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS

Dividend Remittance In Foreign

- - - 0.02 0.03
Currency

EARNINGS IN FOREIGN EXCHANGE

FOB Value Of Goods - 202.65 158.16 188.2 199.92

Other Earnings 250.65 - - - -
BONUS DETAILS
Bonus Equity Share Capital 163.23 163.23 163.23 163.23 163.13

NON-CURRENT INVESTMENTS

Non-Current Investments Quoted

2,138.00 2,595.93 2,595.93 1,180.84 1,177.89
Market Value
Non-Current Investments
98.74 123.76 123.76 606.29 230.37
Unquoted Book Value

CURRENT INVESTMENTS

Current Investments Quoted

700.4 646.64 643.24 334.24 164.27
Market Value
Current Investments Unquoted
25 66.75 91.88 328.3 208.27
Book Value

Source : Dion Global Solutions Limited

 2019 2018
CL 1410 1149
CA 1274 1158

CA - CL -135 9

Change in -145
Profit & Loss account of Dabur
------------------- in Rs. Cr. -------------------
India
Mar 19 Mar-18 Mar-17 Mar-16 Mar-15

12 mths 12 mths 12 mths 12 mths 12 mths

INCOME
Revenue From Operations
6,189.54 5,552.26 5,357.84 5,822.23 5,493.39
[Gross]
Less: Excise/Sevice Tax/Other
0 16.77 79.19 82.53 74.38
Levies
Revenue From Operations
6,189.54 5,535.49 5,278.65 5,739.70 5,419.01
[Net]
Other Operating Revenues 83.65 56.8 12 10.3 12.27
Total Operating Revenues 6,273.19 5,592.29 5,290.65 5,750.00 5,431.28
Other Income 274.74 283.23 274.64 196.64 137.85
Total Revenue 6,547.93 5,875.52 5,565.29 5,946.64 5,569.13
EXPENSES
Cost Of Materials Consumed 2,262.51 2,060.26 1,843.18 1,847.75 1,921.09
Purchase Of Stock-In Trade 984.91 916.46 944.6 988.14 937.25
Changes In Inventories Of
10.09 -74.03 -8.19 -23.77 -32.25
FG,WIP And Stock-In Trade
Employee Benefit Expenses 572.33 461.13 425.3 431.77 392.99
Finance Costs 29.8 21.89 16.23 9.83 9.89
Depreciation And Amortisation
108.83 102.5 75.43 72.82 65.97
Expenses
Other Expenses 1,076.11 999.64 974.39 1,407.36 1,273.70
Total Expenses 5,044.58 4,487.85 4,270.94 4,733.90 4,568.64
Mar-19 Mar-18 Mar-17 Mar-16 Mar-15

12 mths 12 mths 12 mths 12 mths 12 mths

Profit/Loss Before Exceptional,

1,503.35 1,387.67 1,294.35 1,212.74 1,000.49
ExtraOrdinary Items And Tax

Exceptional Items 0 -14.54 0 0 -23.96

Profit/Loss Before Tax 1,503.35 1,373.13 1,294.35 1,212.74 976.53

Tax Expenses-Continued Operations

Current Tax 369.28 340.33 310.83 259.11 204.35

Deferred Tax -130.22 -39.25 -14.81 14.12 9.6
Total Tax Expenses 239.06 301.08 296.02 273.23 213.95
Profit/Loss After Tax And
1,264.29 1,072.05 998.33 939.51 762.58
Before ExtraOrdinary Items
Profit/Loss From Continuing
1,264.29 1,072.05 998.33 939.51 762.58
Operations
Profit/Loss For The Period 1,264.29 1,072.05 998.33 939.51 762.58
Mar-19 Mar-18 Mar-17 Mar-16 Mar-15

12 mths 12 mths 12 mths 12 mths 12 mths

OTHER ADDITIONAL INFORMATION

EARNINGS PER SHARE

Basic EPS (Rs.) 7.16 6.09 5.67 5.34 4

Diluted EPS (Rs.) 7.13 6.06 5.64 5.31 4

VALUE OF IMPORTED AND INDIGENIOUS RAW MATERIALS

Imported Raw Materials 0 0 0 40.12 23.88

Indigenous Raw Materials 0 0 0 1,158.42 1,198.74

STORES, SPARES AND LOOSE TOOLS

Imported Stores And Spares 0 0 0 0.05 0.02

Indigenous Stores And Spares 0 0 0 16.75 17.36

DIVIDEND AND DIVIDEND PERCENTAGE

Equity Share Dividend 1,597.01 477.03 396.34 395.79 351.29

Tax On Dividend 0 0 80.69 80.57 64.13
Equity Dividend Rate (%) 275 750 225 225 200

Source : Dion Global Solutions Limited

Dabur India Previous Years »
Cash Flow ------------------- in Rs. Cr. -------------------
Mar 19 Mar-19 Mar-18 Mar-17 Mar-16

12 mths 12 mths 12 mths 12 mths 12 mths

Net Profit/Loss Before

1,503.35 0 1,373.13 1,294.35 1,212.74
Extraordinary Items And Tax
Net CashFlow From Operating
1,123.57 0 813.67 926.94 960.29
Activities
Net Cash Used In Investing
416.71 0 -262.38 -682.12 -497.64
Activities
Net Cash Used From Financing
-1,619.39 0 -493.44 -273.66 -451.47
Activities
Foreign Exchange Gains / Losses 1.07 0 1.2 3.18 3.31
Net Inc/Dec In Cash And Cash
-78.04 0 59.05 -25.66 14.49
Equivalents
Cash And Cash Equivalents Begin
57.8 0 -1.25 24.41 35.83
of Year
Cash And Cash Equivalents End
-20.24 0 57.8 -1.25 50.32
Of Year

Source : Dion Global Solutions Limited

 Average Rf Average Rp Beta CAPM KoAdditional
DiscountingRp
factor/
# Cost of equity capital
7.62% 5.55% 0.61 11.00% 0% 11.00%

Calculation of Weighted Average Cost of Capital (WACC)

Component PercentageCost of CapiWACC

Equity 99.00% 11.00% 10.89%
Debt 1.00% 9.00% 0.09%
10.98%

WORKINGS:
Data for NIFTY 50 Data for 10 Year Gov Bonds
Date LastReturn
Price (over 10 year period) Date
Month End Return (%)
31-Dec-18 36,068 14.10% 31 Dec 18 6.516
31-Dec-17 34,056 5.36% 31 Dec 17 7.758
31-Dec-16 26,626 7.05% 31 Dec 16 7.857
31-Dec-15 25,838 10.81% 31 Dec 15 8.825
31-Dec-14 21,171 12.54% 31 Dec 14 8.049
31-Dec-13 21,483 14.51% 31 Dec 13 8.572
31-Dec-12 19,423 19.12% 31 Dec 12 7.913
31-Dec-11 15,454 17.11% 31 Dec 11 7.679
31-Dec-10 20,509 17.84% 31 Dec 10 5.26
31-Dec-09 17,464 13.31% 31 Dec 09 7.791
31-Dec-08 9,647
31-Dec-07 20,206
31-Dec-06 13,471
31-Dec-05 9,256
31-Dec-04 6,498
31-Dec-03 5,541
31-Dec-02 3,377
31-Dec-01 3,184
31-Dec-00 3,972
31-Dec-99 5,005
 Calculation of ERP
Date Rm Rf Rp= Rm-Rf
2018 14.10% 6.52% 7.58%
2017 5.36% 7.76% -2.40%
2016 7.05% 7.86% -0.81%
2015 10.81% 8.83% 1.99%
2014 12.54% 8.05% 4.49%
2013 14.51% 8.57% 5.94%
2012 19.12% 7.91% 11.21%
2011 17.11% 7.68% 9.43%
2010 17.84% 5.26% 12.58%
2009 13.31% 7.79% 5.52%
#
Note:
Additional risk premium is added because of:
1. Company Default spread because interest coverage ratio is higher than industry
2. Co. specific risk premium owing to substitutes
Formula (1-Payout ratio )XReturn on Equity
2019
Earnings Retention Ratio (%) 40.256 -26.31 55.5 60.29

Return on Equity (in %) 31.85%

Growth Rate 13%

57.87 53.93 40.256
 Cash Flow Statement to free cash flo
39.94
Rs Cr 2020 2021 2022 2023 2024
Net Profit 1,264
Add Depreciation/Ammortization 109
Less Fixed Capital expenditure -125
Less Increase in Working Capital 145
Less Net Debt repayment -175

FCF 1,218 1,376 1,555 1,757 1,986

WACC 11.00% discount & g 13%

Terminal Value Growth & CF 131,628 7.62%
Pv of terminal value 46,357.24
Value of business from 2020-2030 13,219
Total 59,576.46
nt to free cash flows
94
2025 2026 2027 2028 2029 2030 Total
1,264
109
-125
145

2,244 2,535 2,865 3,238 3,658 4,134

Date Nifty50 Return Dabur Price Return
8/25/2014 7906.3 0% 214 2%
8/26/2014 7904.8 0.396% 218 2% Formula
8/27/2014 7936.0 0.23% 223 0% Beta
8/28/2014 7954.4 1% 223 -2%
9/1/2014 8027.7 1% 218 0%
9/2/2014 8083.0 0% 218 0%
9/3/2014 8114.6 0% 218 -1%
9/4/2014 8096.0 0% 217 0%
9/5/2014 8086.9 1% 217 0%
9/8/2014 8173.9 0% 218 1%
9/9/2014 8153.0 -1% 219 -1%
9/10/2014 8094.1 0% 217 0%
9/11/2014 8085.7 0% 217 -1%
9/12/2014 8105.5 -1% 215 0%
9/15/2014 8042.0 -1% 216 -2%
9/16/2014 7932.9 1% 212 0%
9/17/2014 7975.5 2% 213 0%
9/18/2014 8114.8 0% 214 1%
9/19/2014 8121.5 0% 216 0%
9/22/2014 8146.3 -2% 216 -2%
9/23/2014 8017.5 0% 213 2%
9/24/2014 8002.4 -1% 217 0%
9/25/2014 7911.9 1% 218 -1%
9/26/2014 7968.9 0% 216 -2%
9/29/2014 7958.9 0% 213 1%
9/30/2014 7964.8 0% 214 0%
10/1/2014 7945.5 -1% 213 -2%
10/7/2014 7852.4 0% 208 0%
10/8/2014 7842.7 2% 209 0%
10/9/2014 7960.5 -1% 209 -1%
10/10/2014 7860.0 0% 208 -2%
10/13/2014 7884.3 0% 204 0%
10/14/2014 7864.0 -1% 203 -1%
10/16/2014 7748.2 0% 201 -1%
10/17/2014 7779.7 1% 199 0%
10/20/2014 7879.4 1% 199 2%
10/21/2014 7927.8 1% 202 3%
10/22/2014 7995.9 0% 207 -3%
10/27/2014 7991.7 0% 202 2%
10/28/2014 8027.6 1% 206 2%
10/29/2014 8090.5 1% 210 1%
10/30/2014 8169.2 2% 213 3%
10/31/2014 8322.2 0% 219 2%
11/3/2014 8324.2 0% 222 -2%
11/5/2014 8338.3 0% 218 1%
11/7/2014 8337.0 0% 220 -1%
11/10/2014 8344.3 0% 219 1%
11/11/2014 8362.7 0% 221 2%
11/12/2014 8383.3 0% 226 -1%
11/13/2014 8357.8 0% 224 0%
11/14/2014 8389.9 0% 223 2%
11/17/2014 8430.8 0% 228 -2%
11/18/2014 8425.9 -1% 224 0%
11/19/2014 8382.3 0% 224 1%
11/20/2014 8401.9 1% 227 -2%
11/21/2014 8477.3 1% 223 3%
11/24/2014 8530.2 -1% 228 3%
11/25/2014 8463.1 0% 234 -1%
11/26/2014 8475.8 0% 232 1%
11/27/2014 8494.2 1% 235 -1%
11/28/2014 8588.3 0% 233 2%
12/1/2014 8555.9 0% 237 -1%
12/2/2014 8524.7 0% 235 1%
12/3/2014 8537.7 0% 236 0%
12/4/2014 8564.4 0% 236 -1%
12/5/2014 8538.3 -1% 235 -1%
12/8/2014 8438.3 -1% 232 0%
12/9/2014 8340.7 0% 231 0%
12/10/2014 8355.7 -1% 230 -1%
12/11/2014 8292.9 -1% 227 0%
12/12/2014 8224.1 0% 227 -2%
12/15/2014 8219.6 -2% 222 -3%
12/16/2014 8067.6 0% 216 -2%
12/17/2014 8029.8 2% 212 5%
12/18/2014 8159.3 1% 224 -2%
12/19/2014 8225.2 1% 220 1%
12/22/2014 8324.0 -1% 223 1%
12/23/2014 8267.0 -1% 225 -2%
12/24/2014 8174.1 0% 220 1%
12/26/2014 8200.7 1% 222 -1%
12/29/2014 8246.3 0% 221 2%
12/30/2014 8248.3 0% 224 1%
12/31/2014 8282.7 1% 226 0%
1/2/2015 8395.5 0% 227 -1%
1/5/2015 8378.4 -3% 223 -3%
1/6/2015 8127.4 0% 217 2%
1/7/2015 8102.1 2% 220 1%
1/8/2015 8234.6 1% 222 0%
1/9/2015 8284.5 0% 221 2%
1/12/2015 8323.0 0% 227 0%
1/13/2015 8299.4 0% 228 6%
1/14/2015 8277.5 3% 242 0%
1/15/2015 8494.2 0% 241 1%
1/16/2015 8513.8 0% 243 3%
1/19/2015 8550.7 2% 249 -1%
1/20/2015 8695.6 0% 245 -2%
1/21/2015 8729.5 0% 242 0%
1/22/2015 8761.4 1% 242 0%
1/23/2015 8835.6 1% 241 0%
1/27/2015 8910.5 0% 240 1%
1/28/2015 8914.3 0% 243 3%
1/29/2015 8952.3 -2% 249 -1%
1/30/2015 8808.9 0% 247 2%
2/2/2015 8797.4 0% 253 2%
2/3/2015 8756.5 0% 257 1%
2/4/2015 8723.7 0% 258 0%
2/5/2015 8711.7 -1% 259 2%
2/6/2015 8661.0 -2% 264 -5%
2/9/2015 8526.3 0% 252 4%
2/10/2015 8565.5 1% 261 1%
2/11/2015 8627.4 1% 263 -2%
2/12/2015 8711.5 1% 258 2%
2/13/2015 8805.5 0% 263 -2%
2/16/2015 8809.3 1% 258 1%
2/18/2015 8869.1 0% 259 -1%
2/19/2015 8895.3 -1% 258 -1%
2/20/2015 8833.6 -1% 256 0%
2/23/2015 8755.0 0% 256 1%
2/24/2015 8762.1 0% 259 -1%
2/25/2015 8767.3 -1% 255 0%
2/26/2015 8683.8 2% 254 1%
2/27/2015 8844.6 1% 256 -1%
3/2/2015 8956.8 0% 253 1%
3/3/2015 8996.3 -1% 255 0%
3/4/2015 8922.7 0% 255 1%
3/5/2015 8937.8 -2% 257 3%
3/9/2015 8756.8 -1% 265 -3%
3/10/2015 8712.0 0% 257 1%
3/11/2015 8700.0 1% 258 1%
3/12/2015 8776.0 -1% 262 0%
3/13/2015 8647.8 0% 263 0%
3/16/2015 8633.2 1% 262 4%
3/17/2015 8723.3 0% 273 0%
3/18/2015 8685.9 -1% 274 -3%
3/19/2015 8634.7 -1% 266 -3%
3/20/2015 8570.9 0% 257 1%
3/23/2015 8550.9 0% 260 -1%
3/24/2015 8543.0 0% 257 1%
3/25/2015 8530.8 -2% 259 -2%
3/26/2015 8342.2 0% 254 1%
3/27/2015 8341.4 2% 256 0%
3/30/2015 8492.3 0% 257 0%
3/31/2015 8491.0 1% 256 0%
4/1/2015 8586.3 1% 257 2%
4/6/2015 8659.9 0% 263 0%
4/7/2015 8660.3 1% 265 4%
4/8/2015 8714.4 1% 274 -2%
4/9/2015 8778.3 0% 270 0%
4/10/2015 8780.3 1% 271 1%
4/13/2015 8834.0 -1% 274 -3%
4/16/2015 8706.7 -1% 267 -1%
4/17/2015 8606.0 -2% 263 -1%
4/20/2015 8448.1 -1% 260 0%
4/21/2015 8377.8 1% 259 -1%
4/22/2015 8429.7 0% 256 2%
4/23/2015 8398.3 -1% 262 0%
4/24/2015 8305.3 -1% 261 -2%
4/27/2015 8213.8 1% 254 -2%
4/28/2015 8285.6 -1% 250 -1%
4/29/2015 8239.8 -1% 246 -1%
4/30/2015 8181.5 2% 243 4%
5/4/2015 8332.0 0% 252 1%
5/5/2015 8324.8 -3% 255 -1%
5/6/2015 8097.0 0% 254 -2%
5/7/2015 8057.3 2% 248 1%
5/8/2015 8191.5 2% 252 -1%
5/11/2015 8325.3 -2% 248 1%
5/12/2015 8127.0 1% 252 0%
5/13/2015 8235.5 0% 252 1%
5/14/2015 8224.2 0% 255 0%
5/15/2015 8262.3 1% 256 0%
5/18/2015 8373.7 0% 256 0%
5/19/2015 8365.7 1% 256 0%
5/20/2015 8423.3 0% 255 -2%
5/21/2015 8421.0 0% 250 2%
5/22/2015 8459.0 -1% 256 1%
5/25/2015 8370.3 0% 259 1%
5/26/2015 8339.3 0% 261 0%
5/27/2015 8334.6 0% 260 1%
5/28/2015 8319.0 1% 262 -1%
5/29/2015 8433.7 0% 260 1%
6/1/2015 8433.4 -2% 263 -2%
6/2/2015 8236.5 -1% 257 -2%
6/3/2015 8135.1 0% 252 -2%
6/4/2015 8130.6 0% 247 1%
6/5/2015 8114.7 -1% 249 -2%
6/8/2015 8044.1 0% 243 1%
 6/9/2015 8022.4 1% 245 0%
6/10/2015 8124.5 -2% 245 -1%
6/11/2015 7965.4 0% 243 0%
6/12/2015 7982.9 0% 243 2%
6/15/2015 8013.9 0% 247 0%
6/16/2015 8047.3 1% 248 3%
6/17/2015 8091.5 1% 256 1%
6/18/2015 8174.6 1% 258 1%
6/19/2015 8225.0 2% 260 0%
6/22/2015 8353.1 0% 261 0%
6/23/2015 8381.5 0% 260 1%
6/24/2015 8360.8 0% 264 1%
6/25/2015 8398.0 0% 267 0%
6/26/2015 8381.1 -1% 266 0%
6/29/2015 8318.4 1% 267 2%
6/30/2015 8368.5 1% 271 1%
7/1/2015 8453.0 0% 273 -2%
7/2/2015 8444.9 0% 269 3%
7/3/2015 8484.9 0% 276 0%
7/6/2015 8522.2 0% 277 1%
7/7/2015 8510.8 -2% 279 -1%
7/8/2015 8363.0 0% 277 0%
7/9/2015 8328.5 0% 278 -2%
7/10/2015 8360.5 1% 273 1%
7/13/2015 8459.7 0% 277 3%
7/14/2015 8454.1 1% 287 -1%
7/15/2015 8523.8 1% 283 0%
7/16/2015 8608.0 0% 282 0%
7/17/2015 8609.8 0% 283 2%
7/20/2015 8603.5 -1% 290 1%
7/21/2015 8529.5 1% 293 -1%
7/22/2015 8633.5 -1% 289 0%
7/23/2015 8589.8 -1% 289 -1%
7/24/2015 8521.5 -2% 287 0%
7/27/2015 8361.0 0% 287 -1%
7/28/2015 8337.0 0% 285 -1%
7/29/2015 8375.0 1% 281 1%
7/30/2015 8421.8 1% 283 0%
7/31/2015 8532.8 0% 284 -1%
8/3/2015 8543.0 0% 282 0%
8/4/2015 8516.9 1% 283 5%
8/5/2015 8568.0 0% 297 1%
8/6/2015 8588.7 0% 299 0%
8/7/2015 8564.6 0% 299 -1%
8/10/2015 8525.6 -1% 296 -2%
8/11/2015 8462.3 -1% 290 -1%
8/12/2015 8349.5 0% 289 -2%
 8/13/2015 8355.8 2% 283 1%
8/14/2015 8518.5 0% 285 3%
8/17/2015 8477.3 0% 293 0%
8/18/2015 8466.5 0% 293 -2%
8/19/2015 8495.2 -1% 288 0%
8/20/2015 8372.8 -1% 288 0%
8/21/2015 8300.0 -6% 289 -8%
8/24/2015 7809.0 1% 265 0%
8/25/2015 7880.7 -1% 265 1%
8/26/2015 7791.9 2% 266 3%
8/27/2015 7949.0 1% 275 -1%
8/28/2015 8002.0 0% 271 -3%
8/31/2015 7971.3 -2% 264 -1%
9/1/2015 7785.9 -1% 261 4%
9/2/2015 7717.0 1% 271 2%
9/3/2015 7823.0 -2% 276 0%
9/4/2015 7655.0 -1% 277 -3%
9/7/2015 7558.8 2% 268 -1%
9/8/2015 7688.3 2% 266 0%
9/9/2015 7818.6 0% 266 2%
9/10/2015 7788.1 0% 271 1%
9/11/2015 7789.3 1% 273 0%
9/14/2015 7872.3 -1% 273 0%
9/15/2015 7829.1 1% 273 -3%
9/16/2015 7899.1 1% 265 0%
9/18/2015 7981.9 0% 266 1%
9/21/2015 7977.1 -2% 270 0%
9/22/2015 7812.0 0% 269 -1%
9/23/2015 7846.0 0% 267 0%
9/24/2015 7868.5 -1% 266 0%
9/28/2015 7795.7 1% 266 0%
9/29/2015 7843.3 1% 266 0%
9/30/2015 7948.9 0% 267 1%
10/1/2015 7950.9 2% 270 -1%
10/5/2015 8119.3 0% 266 1%
10/6/2015 8152.9 0% 268 1%
10/7/2015 8177.4 -1% 271 -1%
10/8/2015 8129.4 1% 269 1%
10/9/2015 8189.7 -1% 271 0%
10/12/2015 8143.6 0% 270 -3%
10/13/2015 8131.7 0% 262 1%
10/14/2015 8107.9 1% 264 0%
10/15/2015 8179.5 1% 263 0%
10/16/2015 8238.2 0% 264 0%
10/19/2015 8275.0 0% 264 -1%
10/20/2015 8261.7 0% 262 0%
10/21/2015 8251.7 1% 262 -3%
10/23/2015 8295.5 0% 254 1%
10/26/2015 8260.5 0% 258 2%
10/27/2015 8232.9 -1% 262 0%
10/28/2015 8171.2 -1% 263 0%
10/29/2015 8111.8 -1% 264 -1%
10/30/2015 8065.8 0% 261 0%
11/2/2015 8050.8 0% 262 0%
11/3/2015 8060.7 0% 262 0%
11/4/2015 8040.2 -1% 261 -1%
11/5/2015 7955.5 0% 259 1%
11/6/2015 7954.3 0% 260 0%
11/9/2015 7915.2 -2% 259 -1%
11/10/2015 7783.4 0% 257 1%
11/13/2015 7762.3 1% 260 -2%
11/16/2015 7806.6 0% 254 1%
11/17/2015 7837.5 -1% 257 2%
11/18/2015 7731.8 1% 262 2%
11/19/2015 7842.8 0% 266 1%
11/20/2015 7856.5 0% 268 0%
11/23/2015 7849.3 0% 267 0%
11/24/2015 7831.6 1% 268 2%
11/26/2015 7883.8 1% 272 -1%
11/27/2015 7942.7 0% 268 -1%
11/30/2015 7935.3 0% 265 2%
12/1/2015 7954.9 0% 271 2%
12/2/2015 7931.4 -1% 276 -2%
12/3/2015 7864.1 -1% 269 -2%
12/4/2015 7781.9 0% 264 2%
12/7/2015 7765.4 -1% 269 0%
12/8/2015 7701.7 -1% 268 -2%
12/9/2015 7612.5 1% 262 0%
12/10/2015 7683.3 -1% 262 -1%
12/11/2015 7610.5 1% 261 -1%
12/14/2015 7650.0 1% 259 3%
12/15/2015 7700.9 1% 265 -1%
12/16/2015 7750.9 1% 262 2%
12/17/2015 7844.4 -1% 268 -1%
12/18/2015 7762.0 1% 266 1%
12/21/2015 7834.5 -1% 270 0%
12/22/2015 7786.1 1% 270 0%
12/23/2015 7866.0 0% 272 -1%
12/24/2015 7861.0 1% 269 0%
12/28/2015 7925.1 0% 270 0%
12/29/2015 7929.0 0% 270 -1%
12/30/2015 7896.3 1% 267 1%
12/31/2015 7946.4 -2% 269 0%
1/4/2016 7791.3 0% 269 0%
 1/5/2016 7784.6 -1% 268 0%
1/6/2016 7741.0 -2% 268 -3%
1/7/2016 7568.3 0% 260 1%
1/8/2016 7601.4 0% 262 -2%
1/11/2016 7563.9 -1% 256 -3%
1/12/2016 7510.3 1% 248 1%
1/13/2016 7562.4 0% 250 1%
1/14/2016 7536.8 -1% 253 -4%
1/15/2016 7437.8 -1% 243 -1%
1/18/2016 7351.0 1% 240 1%
1/19/2016 7435.1 -2% 243 0%
1/20/2016 7309.3 0% 242 -4%
1/21/2016 7276.8 2% 234 0%
1/22/2016 7422.5 0% 234 -2%
1/25/2016 7436.1 0% 231 0%
1/27/2016 7437.8 0% 230 3%
1/28/2016 7424.6 2% 237 3%
1/29/2016 7563.5 0% 244 0%
2/1/2016 7556.0 -1% 244 -4%
2/2/2016 7455.5 -1% 234 1%
2/3/2016 7361.8 1% 237 2%
2/4/2016 7404.0 1% 240 2%
2/5/2016 7489.1 -1% 244 0%
2/8/2016 7387.3 -1% 244 -1%
2/9/2016 7298.2 -1% 242 -3%
2/10/2016 7215.7 -3% 236 -2%
2/11/2016 6976.4 0% 233 4%
2/12/2016 6981.0 3% 241 0%
2/15/2016 7163.0 -2% 242 -2%
2/16/2016 7048.3 1% 238 -1%
2/17/2016 7108.5 1% 235 1%
2/18/2016 7191.8 0% 237 0%
2/19/2016 7210.8 0% 238 2%
2/22/2016 7234.5 -2% 242 -4%
2/23/2016 7109.5 -1% 232 -1%
2/24/2016 7018.7 -1% 230 1%
2/25/2016 6970.6 1% 232 1%
2/26/2016 7029.8 -1% 235 -2%
2/29/2016 6987.0 3% 231 2%
3/1/2016 7222.3 2% 235 1%
3/2/2016 7368.9 1% 237 1%
3/3/2016 7475.6 0% 238 2%
3/4/2016 7485.4 0% 243 0%
3/8/2016 7485.3 1% 242 -1%
3/9/2016 7531.8 -1% 239 0%
3/10/2016 7486.1 0% 239 2%
3/11/2016 7510.2 0% 243 0%
3/14/2016 7538.8 -1% 244 -1%
3/15/2016 7460.6 1% 241 0%
3/16/2016 7498.8 0% 240 0%
3/17/2016 7512.5 1% 241 1%
3/18/2016 7604.4 1% 243 1%
3/21/2016 7704.3 0% 246 -1%
3/22/2016 7714.9 0% 243 0%
3/23/2016 7716.5 -1% 242 -2%
3/28/2016 7615.1 0% 237 1%
3/29/2016 7597.0 2% 238 1%
3/30/2016 7735.2 0% 240 1%
3/31/2016 7738.4 0% 243 0%
4/1/2016 7713.0 1% 244 0%
4/4/2016 7758.8 -2% 243 -1%
4/5/2016 7603.2 0% 239 1%
4/6/2016 7614.4 -1% 241 0%
4/7/2016 7546.5 0% 241 1%
4/8/2016 7555.2 2% 243 1%
4/11/2016 7671.4 0% 246 4%
4/12/2016 7709.0 2% 256 2%
4/13/2016 7850.5 1% 260 2%
4/18/2016 7914.7 0% 266 -2%
4/20/2016 7914.8 0% 260 0%
4/21/2016 7912.0 0% 260 -1%
4/22/2016 7899.3 -1% 258 1%
4/25/2016 7855.0 1% 259 0%
4/26/2016 7962.6 0% 259 2%
4/27/2016 7979.9 -2% 265 -1%
4/28/2016 7847.3 0% 262 2%
4/29/2016 7849.8 -1% 268 7%
5/2/2016 7805.9 -1% 288 -2%
5/3/2016 7747.0 -1% 282 -3%
5/4/2016 7706.5 0% 273 0%
5/5/2016 7735.5 0% 275 3%
5/6/2016 7733.5 2% 282 -1%
5/9/2016 7866.0 0% 280 1%
5/10/2016 7887.8 0% 282 1%
5/11/2016 7848.9 1% 285 -1%
5/12/2016 7900.4 -1% 283 -1%
5/13/2016 7814.9 1% 282 -2%
5/16/2016 7860.8 0% 277 -1%
5/17/2016 7890.8 0% 273 2%
5/18/2016 7870.1 -1% 278 -2%
5/19/2016 7783.4 0% 274 -2%
5/20/2016 7749.7 0% 269 3%
5/23/2016 7731.0 0% 278 -1%
5/24/2016 7748.9 2% 275 2%
5/25/2016 7934.9 2% 281 2%
5/26/2016 8069.6 1% 286 0%
5/27/2016 8156.6 0% 288 1%
5/30/2016 8178.5 0% 290 -3%
5/31/2016 8160.1 0% 282 0%
6/1/2016 8180.0 0% 282 3%
6/2/2016 8219.0 0% 291 2%
6/3/2016 8220.8 0% 297 -1%
6/6/2016 8201.0 1% 295 1%
6/7/2016 8266.5 0% 299 0%
6/8/2016 8273.0 -1% 299 -1%
6/9/2016 8203.6 0% 295 -1%
6/10/2016 8170.0 -1% 293 1%
6/13/2016 8110.6 0% 295 1%
6/14/2016 8108.9 1% 299 1%
6/15/2016 8206.6 -1% 304 1%
6/16/2016 8140.8 0% 305 0%
6/17/2016 8170.2 1% 306 -1%
6/20/2016 8238.5 0% 305 -1%
6/21/2016 8219.9 0% 301 0%
6/22/2016 8203.7 1% 301 -1%
6/23/2016 8270.5 -2% 298 1%
6/24/2016 8088.6 0% 302 3%
6/27/2016 8094.7 0% 310 -2%
6/28/2016 8127.9 1% 304 -2%
6/29/2016 8204.0 1% 297 1%
6/30/2016 8287.8 0% 301 1%
7/1/2016 8328.3 1% 303 -1%
7/4/2016 8370.7 0% 300 0%
7/5/2016 8336.0 0% 300 2%
7/7/2016 8337.9 0% 307 -1%
7/8/2016 8323.2 2% 305 1%
7/11/2016 8467.9 1% 307 0%
7/12/2016 8521.0 0% 306 1%
7/13/2016 8519.5 1% 309 -1%
7/14/2016 8565.0 0% 306 -1%
7/15/2016 8541.4 0% 304 1%
7/18/2016 8508.7 0% 306 -1%
7/19/2016 8528.5 0% 303 -2%
7/20/2016 8565.8 -1% 297 0%
7/21/2016 8510.1 0% 298 1%
7/22/2016 8541.2 1% 300 0%
7/25/2016 8635.7 -1% 299 -1%
7/26/2016 8590.7 0% 296 2%
7/27/2016 8615.8 1% 300 0%
7/28/2016 8666.3 0% 300 -1%
7/29/2016 8638.5 0% 296 -1%
 8/1/2016 8636.5 0% 295 0%
8/2/2016 8622.9 -1% 294 -1%
8/3/2016 8544.8 0% 290 0%
8/4/2016 8551.1 2% 288 0%
8/5/2016 8683.2 0% 289 -1%
8/8/2016 8711.3 0% 285 -1%
8/9/2016 8678.3 -1% 282 -1%
8/10/2016 8575.3 0% 279 3%
8/11/2016 8592.2 1% 287 1%
8/16/2016 8642.5 0% 291 2%
8/17/2016 8624.0 1% 296 0%
8/18/2016 8673.3 0% 295 -1%
8/19/2016 8666.9 0% 292 -1%
8/22/2016 8629.2 0% 289 -2%
8/23/2016 8632.6 0% 284 1%
8/24/2016 8650.3 -1% 287 0%
8/25/2016 8592.2 0% 285 -1%
8/26/2016 8572.5 0% 281 0%
8/29/2016 8607.5 2% 281 2%
8/30/2016 8744.3 0% 287 -1%
8/31/2016 8786.2 0% 283 1%
9/1/2016 8774.7 0% 287 1%
9/2/2016 8809.7 2% 290 1%
9/6/2016 8943.0 0% 292 -1%
9/7/2016 8918.0 0% 290 1%
9/8/2016 8952.5 -1% 292 -2%
9/9/2016 8866.7 -2% 286 -1%
9/12/2016 8715.6 0% 283 1%
9/14/2016 8726.6 0% 286 0%
9/15/2016 8742.5 0% 287 0%
9/16/2016 8779.8 0% 286 1%
9/19/2016 8808.4 0% 287 -1%
9/20/2016 8775.9 0% 284 -1%
9/21/2016 8777.2 1% 283 -1%
9/22/2016 8867.5 0% 278 -1%
9/23/2016 8831.5 -1% 275 0%
9/26/2016 8723.0 0% 275 0%
9/27/2016 8706.4 0% 275 -2%
9/28/2016 8745.2 -2% 271 -2%
9/29/2016 8591.3 0% 264 0%
9/30/2016 8611.2 1% 265 2%
10/3/2016 8738.1 0% 270 1%
10/4/2016 8769.2 0% 273 1%
10/5/2016 8744.0 0% 276 1%
10/6/2016 8709.5 0% 280 -1%
10/7/2016 8697.6 0% 278 1%
10/10/2016 8708.8 -2% 279 -1%
10/13/2016 8573.3 0% 277 -1%
10/14/2016 8583.4 -1% 273 -3%
10/17/2016 8520.4 2% 265 1%
10/18/2016 8677.9 0% 268 1%
10/19/2016 8659.1 0% 270 1%
10/20/2016 8699.4 0% 274 1%
10/21/2016 8693.0 0% 278 0%
10/24/2016 8709.0 0% 277 0%
10/25/2016 8691.3 -1% 278 4%
10/26/2016 8615.3 0% 289 -2%
10/27/2016 8615.3 0% 283 0%
10/28/2016 8638.0 0% 284 0%
11/1/2016 8626.3 -1% 284 1%
11/2/2016 8514.0 0% 288 0%
11/3/2016 8485.0 -1% 287 2%
11/4/2016 8433.8 1% 292 0%
11/7/2016 8497.0 1% 291 0%
11/8/2016 8543.5 -1% 292 0%
11/9/2016 8432.0 1% 292 0%
11/10/2016 8525.8 -3% 291 -6%
11/11/2016 8296.3 -2% 275 -3%
11/15/2016 8108.5 0% 265 2%
11/16/2016 8111.6 0% 269 1%
11/17/2016 8080.0 0% 271 1%
11/18/2016 8074.1 -2% 273 -1%
11/21/2016 7929.1 1% 270 0%
11/22/2016 8002.3 0% 270 2%
11/23/2016 8033.3 -1% 276 -2%
11/24/2016 7965.5 2% 271 0%
11/25/2016 8114.3 0% 270 1%
11/28/2016 8126.9 0% 272 0%
11/29/2016 8142.1 1% 272 2%
11/30/2016 8224.5 0% 278 1%
12/1/2016 8192.9 -1% 280 -1%
12/2/2016 8086.8 1% 278 1%
12/5/2016 8128.8 0% 281 -2%
12/6/2016 8143.1 -1% 275 0%
12/7/2016 8102.0 2% 274 0%
12/8/2016 8246.8 0% 273 0%
12/9/2016 8261.8 -1% 274 -1%
12/12/2016 8170.8 1% 271 2%
12/13/2016 8221.8 0% 275 -2%
12/14/2016 8182.5 0% 270 -1%
12/15/2016 8153.6 0% 266 0%
12/16/2016 8139.5 0% 266 -1%
12/19/2016 8104.4 0% 263 2%
12/20/2016 8082.4 0% 269 -1%
12/21/2016 8061.3 -1% 266 -2%
12/22/2016 7979.1 0% 260 -1%
12/23/2016 7985.8 -1% 257 -1%
12/26/2016 7908.3 2% 255 4%
12/27/2016 8032.9 0% 265 1%
12/28/2016 8034.9 1% 269 0%
12/29/2016 8103.6 1% 269 1%
12/30/2016 8185.8 0% 272 0%
1/2/2017 8179.5 0% 272 -1%
1/3/2017 8192.3 0% 270 0%
1/4/2017 8190.5 1% 271 1%
1/5/2017 8273.8 0% 273 -1%
1/6/2017 8243.8 0% 271 -1%
1/9/2017 8236.0 1% 268 1%
1/10/2017 8288.6 1% 272 0%
1/11/2017 8380.7 0% 273 0%
1/12/2017 8407.2 0% 273 1%
1/13/2017 8400.3 0% 276 -1%
1/16/2017 8412.8 0% 272 0%
1/17/2017 8398.0 0% 272 0%
1/18/2017 8417.0 0% 273 -1%
1/19/2017 8435.1 -1% 271 0%
1/20/2017 8349.3 1% 270 0%
1/23/2017 8391.5 1% 271 0%
1/24/2017 8475.8 1% 272 1%
1/25/2017 8602.8 0% 276 -1%
1/27/2017 8641.3 0% 271 1%
1/30/2017 8632.8 -1% 275 -1%
1/31/2017 8561.3 2% 270 0%
2/1/2017 8716.4 0% 272 -1%
2/2/2017 8734.3 0% 268 -2%
2/3/2017 8741.0 1% 263 1%
2/6/2017 8801.0 0% 265 -1%
2/7/2017 8768.3 0% 261 0%
2/8/2017 8769.0 0% 261 0%
2/9/2017 8778.4 0% 260 0%
2/10/2017 8793.5 0% 259 2%
2/13/2017 8805.0 0% 264 0%
2/14/2017 8792.3 -1% 264 -2%
2/15/2017 8724.7 1% 260 0%
2/16/2017 8778.0 0% 261 0%
2/17/2017 8821.7 1% 260 0%
2/20/2017 8879.2 0% 259 3%
2/21/2017 8907.8 0% 267 -1%
2/22/2017 8926.9 0% 265 0%
2/23/2017 8939.5 0% 264 1%
2/27/2017 8896.7 0% 267 2%
2/28/2017 8879.6 1% 271 0%
3/1/2017 8945.8 -1% 271 0%
3/2/2017 8899.8 0% 271 0%
3/3/2017 8897.5 1% 272 0%
3/6/2017 8963.5 0% 272 -1%
3/7/2017 8946.9 0% 270 0%
3/8/2017 8924.3 0% 269 0%
3/9/2017 8927.0 0% 269 -1%
3/10/2017 8934.5 2% 268 0%
3/14/2017 9087.0 0% 268 0%
3/15/2017 9084.8 1% 268 0%
3/16/2017 9153.7 0% 269 1%
3/17/2017 9160.0 0% 272 0%
3/20/2017 9126.8 0% 273 1%
3/21/2017 9121.5 -1% 276 1%
3/22/2017 9030.5 1% 278 -1%
3/23/2017 9086.3 0% 276 0%
3/24/2017 9108.0 -1% 276 -2%
3/27/2017 9045.2 1% 269 0%
3/28/2017 9100.8 0% 269 0%
3/29/2017 9143.8 0% 270 -1%
3/30/2017 9173.8 0% 269 1%
3/31/2017 9173.8 1% 272 1%
4/3/2017 9237.8 0% 275 1%
4/5/2017 9265.2 0% 278 0%
4/6/2017 9262.0 -1% 279 -1%
4/7/2017 9198.3 0% 277 2%
4/10/2017 9181.5 1% 281 1%
4/11/2017 9237.0 0% 284 0%
4/12/2017 9203.5 -1% 283 0%
4/13/2017 9150.8 0% 282 2%
4/17/2017 9139.3 0% 287 -1%
4/18/2017 9105.2 0% 284 0%
4/19/2017 9103.5 0% 284 0%
4/20/2017 9136.4 0% 285 0%
4/21/2017 9119.4 1% 285 1%
4/24/2017 9218.0 1% 287 0%
4/25/2017 9306.6 0% 288 0%
4/26/2017 9351.8 0% 288 -2%
4/27/2017 9342.2 0% 283 -1%
4/28/2017 9304.0 0% 281 -1%
5/2/2017 9313.8 0% 279 -3%
5/3/2017 9312.0 1% 270 0%
5/4/2017 9359.9 -1% 270 -1%
5/5/2017 9285.3 0% 267 0%
5/8/2017 9314.0 0% 268 0%
5/9/2017 9316.8 1% 268 4%
5/10/2017 9407.3 0% 277 -2%
5/11/2017 9422.4 0% 273 1%
5/12/2017 9400.9 0% 274 -2%
5/15/2017 9445.4 1% 270 -1%
5/16/2017 9512.3 0% 268 1%
5/17/2017 9525.8 -1% 270 -1%
5/18/2017 9429.5 0% 267 1%
5/19/2017 9427.9 0% 270 1%
5/22/2017 9438.3 -1% 271 -1%
5/23/2017 9386.2 0% 268 -2%
5/24/2017 9360.5 2% 263 0%
5/25/2017 9509.8 1% 264 0%
5/26/2017 9595.1 0% 264 3%
5/29/2017 9604.9 0% 273 0%
5/30/2017 9624.5 0% 273 1%
5/31/2017 9621.3 0% 274 2%
6/1/2017 9616.1 0% 280 0%
6/2/2017 9653.5 0% 279 0%
6/5/2017 9675.1 0% 280 -1%
6/6/2017 9637.2 0% 277 0%
6/7/2017 9663.9 0% 278 -1%
6/8/2017 9647.3 0% 276 0%
6/9/2017 9668.3 -1% 276 1%
6/12/2017 9616.4 0% 280 2%
6/13/2017 9606.9 0% 286 -1%
6/14/2017 9618.2 0% 284 0%
6/15/2017 9578.0 0% 283 0%
6/16/2017 9588.0 1% 283 0%
6/19/2017 9657.5 0% 282 0%
6/20/2017 9653.5 0% 281 0%
6/21/2017 9633.6 0% 282 0%
6/22/2017 9630.0 -1% 283 0%
6/23/2017 9575.0 -1% 284 0%
6/27/2017 9511.4 0% 284 0%
6/28/2017 9491.3 0% 284 0%
6/29/2017 9504.1 0% 284 1%
6/30/2017 9520.9 1% 286 1%
7/3/2017 9615.0 0% 289 0%
7/4/2017 9613.3 0% 289 1%
7/5/2017 9637.6 0% 293 1%
7/6/2017 9674.5 0% 296 0%
7/7/2017 9665.8 1% 297 1%
7/10/2017 9771.0 0% 299 0%
7/11/2017 9786.0 0% 300 0%
7/12/2017 9816.1 1% 300 0%
7/13/2017 9891.7 0% 298 0%
7/14/2017 9886.3 0% 299 -1%
7/17/2017 9916.0 -1% 297 -1%
7/18/2017 9827.2 1% 295 2%
7/19/2017 9899.6 0% 301 -2%
7/20/2017 9873.3 0% 296 1%
7/21/2017 9915.3 1% 297 1%
7/24/2017 9966.4 0% 301 0%
7/25/2017 9964.5 1% 302 0%
7/26/2017 10020.7 0% 301 2%
7/27/2017 10020.5 0% 307 0%
7/28/2017 10014.5 1% 305 0%
7/31/2017 10077.1 0% 305 -3%
8/1/2017 10114.7 0% 297 0%
8/2/2017 10081.5 -1% 296 1%
8/3/2017 10013.7 1% 300 1%
8/4/2017 10066.4 0% 302 4%
8/7/2017 10057.4 -1% 314 -1%
8/8/2017 9978.5 -1% 310 -1%
8/9/2017 9908.0 -1% 305 -1%
8/10/2017 9820.3 -1% 301 -1%
8/11/2017 9710.8 1% 298 1%
8/14/2017 9794.2 1% 302 1%
8/16/2017 9897.3 0% 304 0%
8/17/2017 9904.2 -1% 303 1%
8/18/2017 9837.4 -1% 305 -2%
8/21/2017 9754.3 0% 299 -1%
8/22/2017 9765.5 1% 296 -1%
8/23/2017 9852.5 0% 294 0%
8/24/2017 9857.0 1% 295 4%
8/28/2017 9912.8 -1% 307 -1%
8/29/2017 9796.0 1% 304 2%
8/30/2017 9884.4 0% 309 0%
8/31/2017 9917.9 1% 310 -1%
9/1/2017 9974.4 -1% 308 -1%
9/4/2017 9912.8 0% 305 1%
9/5/2017 9952.2 0% 308 -1%
9/6/2017 9916.2 0% 304 0%
9/7/2017 9929.9 0% 305 -1%
9/8/2017 9934.8 1% 302 1%
9/11/2017 10006.0 1% 304 -1%
9/12/2017 10093.0 0% 302 0%
9/13/2017 10079.3 0% 303 0%
9/14/2017 10086.6 0% 302 1%
9/15/2017 10085.4 1% 305 -1%
9/18/2017 10153.1 0% 303 2%
9/19/2017 10147.5 0% 309 0%
9/20/2017 10141.2 0% 309 -1%
9/21/2017 10121.9 -2% 305 -2%
 9/22/2017 9964.4 -1% 300 2%
9/25/2017 9872.6 0% 307 -1%
9/26/2017 9871.5 -1% 303 -1%
9/27/2017 9735.8 0% 301 2%
9/28/2017 9769.0 0% 306 -2%
9/29/2017 9788.6 1% 300 2%
10/3/2017 9859.5 1% 306 1%
10/4/2017 9914.9 0% 310 0%
10/5/2017 9888.7 1% 311 0%
10/6/2017 9979.7 0% 311 1%
10/9/2017 9988.8 0% 312 0%
10/10/2017 10017.0 0% 312 0%
10/11/2017 9984.8 1% 312 3%
10/12/2017 10096.4 1% 320 -1%
10/13/2017 10167.5 1% 316 0%
10/16/2017 10230.8 0% 316 -1%
10/17/2017 10234.5 0% 315 0%
10/18/2017 10210.8 -1% 314 0%
10/19/2017 10146.5 0% 313 -1%
10/23/2017 10184.8 0% 311 1%
10/24/2017 10207.7 1% 313 1%
10/25/2017 10295.3 0% 318 0%
10/26/2017 10343.8 0% 317 0%
10/27/2017 10323.0 0% 317 0%
10/30/2017 10363.7 0% 317 3%
10/31/2017 10335.3 1% 327 5%
11/1/2017 10440.5 0% 344 -2%
11/2/2017 10423.8 0% 337 -1%
11/3/2017 10452.5 0% 335 1%
11/6/2017 10451.8 -1% 337 0%
11/7/2017 10350.2 0% 336 -1%
11/8/2017 10303.2 0% 334 3%
11/9/2017 10309.0 0% 344 -2%
11/10/2017 10321.8 -1% 338 -1%
11/13/2017 10225.0 0% 333 0%
11/14/2017 10186.6 -1% 333 -1%
11/15/2017 10118.0 1% 330 1%
11/16/2017 10214.8 1% 335 -1%
11/17/2017 10283.6 0% 332 0%
11/20/2017 10298.8 0% 333 1%
11/21/2017 10326.9 0% 335 0%
11/22/2017 10342.3 0% 335 0%
11/23/2017 10348.8 0% 335 1%
11/24/2017 10389.7 0% 340 -1%
11/27/2017 10399.5 0% 338 1%
11/28/2017 10370.3 0% 340 -1%
11/29/2017 10361.3 -1% 335 1%
11/30/2017 10226.5 -1% 340 -1%
12/1/2017 10121.8 0% 336 0%
12/4/2017 10127.8 0% 337 1%
12/5/2017 10118.3 -1% 339 0%
12/6/2017 10044.1 1% 338 1%
12/7/2017 10166.7 1% 341 2%
12/8/2017 10265.7 1% 346 0%
12/11/2017 10322.3 -1% 345 0%
12/12/2017 10240.2 0% 343 -1%
12/13/2017 10193.0 1% 341 0%
12/14/2017 10252.1 1% 340 -1%
12/15/2017 10333.3 1% 338 2%
12/18/2017 10388.8 1% 343 1%
12/19/2017 10463.2 0% 345 0%
12/20/2017 10444.2 0% 346 0%
12/21/2017 10440.3 1% 345 1%
12/22/2017 10493.0 0% 349 0%
12/26/2017 10531.5 0% 349 0%
12/27/2017 10490.8 0% 348 -2%
12/28/2017 10477.9 1% 340 1%
12/29/2017 10530.7 -1% 345 0%
1/2/2018 10442.2 0% 344 2%
1/3/2018 10443.2 1% 350 0%
1/4/2018 10504.8 1% 350 1%
1/5/2018 10558.8 1% 353 1%
1/8/2018 10623.6 0% 357 -1%
1/9/2018 10637.0 0% 355 0%
1/10/2018 10632.2 0% 353 1%
1/11/2018 10651.2 0% 355 0%
1/12/2018 10681.3 1% 353 1%
1/15/2018 10741.5 0% 356 -1%
1/16/2018 10700.5 1% 354 0%
1/17/2018 10788.5 0% 354 2%
1/18/2018 10817.0 1% 360 0%
1/19/2018 10894.7 1% 359 0%
1/22/2018 10966.2 1% 358 0%
1/23/2018 11083.7 0% 359 -1%
1/24/2018 11086.0 0% 354 -2%
1/25/2018 11069.7 1% 349 2%
1/29/2018 11130.4 -1% 355 0%
1/30/2018 11049.7 0% 354 -1%
1/31/2018 11027.7 0% 351 -2%
2/1/2018 11016.9 -2% 345 -2%
2/2/2018 10760.6 -1% 340 -2%
2/5/2018 10666.5 -2% 335 0%
2/6/2018 10498.3 0% 335 0%
2/7/2018 10476.7 1% 334 1%
 2/8/2018 10576.8 -1% 336 0%
2/9/2018 10455.0 1% 336 1%
2/12/2018 10539.8 0% 340 -1%
2/14/2018 10500.9 0% 336 0%
2/15/2018 10545.5 -1% 335 1%
2/16/2018 10452.3 -1% 338 -1%
2/19/2018 10378.4 0% 335 0%
2/20/2018 10360.4 0% 336 -2%
2/21/2018 10397.5 0% 330 -2%
2/22/2018 10382.7 1% 323 1%
2/23/2018 10491.0 1% 326 0%
2/26/2018 10582.6 0% 327 -1%
2/27/2018 10554.3 -1% 324 -1%
2/28/2018 10492.8 0% 321 0%
3/1/2018 10458.3 -1% 321 0%
3/5/2018 10358.8 -1% 321 -1%
3/6/2018 10249.3 -1% 318 0%
3/7/2018 10154.2 1% 319 1%
3/8/2018 10242.7 0% 321 1%
3/9/2018 10226.8 2% 323 0%
3/12/2018 10421.4 0% 323 -1%
3/13/2018 10426.8 0% 321 0%
3/14/2018 10410.9 0% 321 0%
3/15/2018 10360.2 -2% 321 -1%
3/16/2018 10195.2 -1% 317 0%
3/19/2018 10094.3 0% 315 0%
3/20/2018 10124.3 0% 315 1%
3/21/2018 10155.3 0% 318 -2%
3/22/2018 10114.8 -1% 313 0%
3/23/2018 9998.0 1% 314 -1%
3/26/2018 10130.7 1% 311 3%
3/27/2018 10184.2 -1% 320 1%
3/28/2018 10113.7 1% 324 2%
4/2/2018 10211.8 0% 331 1%
4/3/2018 10245.0 -1% 333 -1%
4/4/2018 10128.4 2% 331 0%
4/5/2018 10325.2 0% 332 2%
4/6/2018 10331.6 0% 338 0%
4/9/2018 10379.3 0% 338 -2%
4/10/2018 10402.3 0% 333 2%
4/11/2018 10417.2 0% 340 0%
4/12/2018 10458.7 0% 340 -1%
4/13/2018 10480.6 0% 336 1%
4/16/2018 10528.3 0% 339 0%
4/17/2018 10548.7 0% 339 4%
4/18/2018 10526.2 0% 351 1%
4/19/2018 10565.3 0% 354 -1%
4/20/2018 10564.0 0% 350 1%
4/23/2018 10584.7 0% 353 0%
4/24/2018 10614.3 0% 352 1%
4/25/2018 10570.5 0% 354 -1%
4/26/2018 10617.8 1% 352 3%
4/27/2018 10692.3 0% 362 1%
4/30/2018 10739.3 0% 364 1%
5/2/2018 10718.0 0% 367 -1%
5/3/2018 10679.7 -1% 365 0%
5/4/2018 10618.3 1% 365 0%
5/7/2018 10715.5 0% 364 0%
5/8/2018 10717.8 0% 365 0%
5/9/2018 10741.7 0% 364 0%
5/10/2018 10716.5 1% 363 0%
5/11/2018 10806.5 0% 362 1%
5/14/2018 10806.6 0% 366 0%
5/15/2018 10801.8 -1% 366 1%
5/16/2018 10741.1 -1% 369 -1%
5/17/2018 10682.7 -1% 366 1%
5/18/2018 10596.4 -1% 370 0%
5/21/2018 10516.7 0% 368 0%
5/22/2018 10536.7 -1% 370 -2%
5/23/2018 10430.3 1% 363 0%
5/24/2018 10513.8 1% 365 2%
5/25/2018 10605.2 1% 373 0%
5/28/2018 10688.7 -1% 373 2%
5/29/2018 10633.3 0% 380 -1%
5/30/2018 10614.3 1% 377 0%
5/31/2018 10736.2 0% 378 1%
6/1/2018 10696.2 -1% 382 0%
6/4/2018 10628.5 0% 380 -1%
6/5/2018 10593.2 1% 376 -1%
6/6/2018 10684.7 1% 374 1%
6/7/2018 10768.3 0% 379 0%
6/8/2018 10767.7 0% 377 1%
6/11/2018 10787.0 1% 381 0%
6/12/2018 10842.8 0% 382 0%
6/13/2018 10856.7 0% 383 0%
6/14/2018 10808.0 0% 382 -1%
6/15/2018 10817.7 0% 379 1%
6/18/2018 10799.8 -1% 381 -2%
6/19/2018 10710.5 1% 375 0%
6/20/2018 10772.0 0% 375 2%
6/21/2018 10741.1 1% 380 0%
6/22/2018 10821.8 -1% 380 0%
6/25/2018 10762.5 0% 379 1%
6/26/2018 10769.2 -1% 381 2%
6/27/2018 10671.4 -1% 388 -2%
6/28/2018 10589.1 1% 382 1%
6/29/2018 10714.3 -1% 386 -2%
7/2/2018 10657.3 0% 379 0%
7/3/2018 10699.9 1% 380 -1%
7/4/2018 10769.9 0% 376 0%
7/5/2018 10749.8 0% 374 -2%
7/6/2018 10772.7 1% 367 1%
7/9/2018 10852.9 1% 373 0%
7/10/2018 10947.3 0% 374 1%
7/11/2018 10948.3 1% 376 0%
7/12/2018 11023.2 0% 375 -1%
7/13/2018 11018.9 -1% 373 -2%
7/16/2018 10936.8 1% 365 3%
7/17/2018 11008.0 0% 375 -1%
7/18/2018 10980.5 0% 372 0%
7/19/2018 10957.1 0% 373 -1%
7/20/2018 11010.2 1% 370 0%
7/23/2018 11084.8 0% 371 0%
7/24/2018 11134.3 0% 371 -1%
7/25/2018 11132.0 0% 369 0%
7/26/2018 11167.3 1% 371 3%
7/27/2018 11278.3 0% 383 2%
7/30/2018 11319.5 0% 391 7%
7/31/2018 11356.5 0% 419 3%
8/1/2018 11346.2 -1% 429 -1%
8/2/2018 11244.7 1% 426 2%
8/3/2018 11360.8 0% 434 0%
8/6/2018 11387.1 0% 433 2%
8/7/2018 11389.5 1% 440 0%
8/8/2018 11450.0 0% 442 0%
8/9/2018 11470.7 0% 443 -1%
8/10/2018 11429.5 -1% 440 0%
8/13/2018 11355.8 1% 438 3%
8/14/2018 11435.1 0% 450 -2%
8/16/2018 11385.0 1% 442 3%
8/17/2018 11470.8 1% 453 -1%
8/20/2018 11551.8 0% 450 1%
8/21/2018 11570.9 0% 456 5%
8/23/2018 11582.8 0% 481 -2%
8/24/2018 11557.1 1% 472 1%
8/27/2018 11692.0 0% 479 1%
8/28/2018 11738.5 0% 482 -2%
8/29/2018 11691.9 0% 474 0%
8/30/2018 11676.8 0% 477 0%
8/31/2018 11680.5 -1% 475 -3%
9/3/2018 11582.3 -1% 463 -4%
 9/4/2018 11520.3 0% 445 2%
9/5/2018 11477.0 1% 454 -1%
9/6/2018 11536.9 0% 451 3%
9/7/2018 11589.1 -1% 465 -4%
9/10/2018 11438.1 -1% 447 -1%
9/11/2018 11287.5 1% 441 2%
9/12/2018 11369.9 1% 451 3%
9/14/2018 11515.2 -1% 465 -1%
9/17/2018 11377.8 -1% 459 2%
9/18/2018 11278.9 0% 467 -1%
9/19/2018 11234.3 -1% 464 -2%
9/21/2018 11143.1 -2% 453 -5%
9/24/2018 10967.4 1% 429 1%
9/25/2018 11067.5 0% 434 0%
9/26/2018 11053.8 -1% 433 0%
9/27/2018 10977.5 0% 434 -2%
9/28/2018 10930.5 1% 424 3%
10/1/2018 11008.3 -1% 436 -3%
10/3/2018 10858.3 -2% 422 -2%
10/4/2018 10599.3 -3% 413 1%
10/5/2018 10316.5 0% 417 -2%
10/8/2018 10348.0 0% 407 -4%
10/9/2018 10301.0 2% 390 3%
10/10/2018 10460.1 -2% 402 -3%
10/11/2018 10234.7 2% 391 4%
10/12/2018 10472.5 0% 405 -3%
10/15/2018 10512.5 1% 394 3%
10/16/2018 10584.8 -1% 404 -1%
10/17/2018 10453.0 -1% 400 0%
10/19/2018 10303.5 -1% 402 0%
10/22/2018 10245.3 -1% 402 -1%
10/23/2018 10146.8 1% 398 1%
10/24/2018 10224.8 -1% 402 -2%
10/25/2018 10124.9 -1% 396 0%
10/26/2018 10030.0 2% 395 3%
10/29/2018 10250.8 -1% 407 -3%
10/30/2018 10198.4 2% 394 -3%
10/31/2018 10386.6 0% 382 -4%
11/1/2018 10380.5 2% 368 0%
11/2/2018 10553.0 0% 367 -1%
11/5/2018 10524.0 0% 364 0%
11/6/2018 10530.0 1% 363 1%
11/7/2018 10598.4 0% 367 2%
11/9/2018 10585.2 -1% 375 0%
11/12/2018 10482.2 1% 374 -2%
11/13/2018 10582.5 0% 367 3%
11/14/2018 10576.3 0% 376 3%
11/15/2018 10616.7 1% 386 2%
11/16/2018 10682.2 1% 393 3%
11/19/2018 10763.4 -1% 406 -4%
11/20/2018 10656.2 -1% 391 2%
11/21/2018 10600.0 -1% 398 0%
11/22/2018 10526.8 1% 398 5%
11/26/2018 10628.6 1% 416 0%
11/27/2018 10685.6 0% 418 -1%
11/28/2018 10728.8 1% 412 0%
11/29/2018 10858.7 0% 412 -1%
11/30/2018 10876.8 0% 406 1%
12/3/2018 10883.8 0% 410 -1%
12/4/2018 10869.5 -1% 406 0%
12/5/2018 10782.9 -2% 407 -2%
12/6/2018 10601.2 1% 398 3%
12/7/2018 10693.7 -2% 409 -1%
12/10/2018 10488.5 1% 403 2%
12/11/2018 10549.2 2% 410 4%
12/12/2018 10737.6 1% 428 1%
12/13/2018 10791.5 0% 432 2%
12/14/2018 10805.5 1% 441 0%
12/17/2018 10888.3 0% 439 0%
12/18/2018 10908.7 1% 440 3%
12/19/2018 10967.3 0% 454 -3%
12/20/2018 10951.7 -2% 441 -1%
12/21/2018 10754.0 -1% 435 -3%
12/24/2018 10663.5 1% 423 -1%
12/26/2018 10729.8 0% 420 2%
12/27/2018 10779.8 1% 427 1%
12/28/2018 10859.9 0% 430 -1%
12/31/2018 10862.5 -1% 428 -3%
1/2/2019 10792.5 -1% 414 1%
1/3/2019 10672.3 1% 419 -1%
1/4/2019 10727.3 0% 416 0%
1/7/2019 10771.8 0% 418 -1%
1/8/2019 10802.2 0% 414 1%
1/9/2019 10855.2 0% 419 0%
1/10/2019 10821.6 0% 418 0%
1/11/2019 10795.0 -1% 419 3%
1/14/2019 10737.6 1% 430 -2%
1/15/2019 10886.8 0% 423 -1%
1/16/2019 10890.3 0% 421 -1%
1/17/2019 10905.2 0% 417 1%
1/18/2019 10907.0 1% 421 1%
1/21/2019 10961.8 0% 425 1%
1/22/2019 10922.8 -1% 430 -1%
1/23/2019 10831.5 0% 428 0%
1/24/2019 10849.8 -1% 427 0%
1/25/2019 10780.5 -1% 427 -1%
1/28/2019 10661.5 0% 424 -1%
1/29/2019 10652.2 0% 420 2%
1/30/2019 10651.8 2% 428 3%
1/31/2019 10831.0 1% 441 2%
2/1/2019 10893.7 0% 449 -1%
2/4/2019 10912.3 0% 444 0%
2/5/2019 10934.3 1% 446 1%
2/6/2019 11062.5 0% 451 1%
2/7/2019 11069.4 -1% 457 -2%
2/8/2019 10943.6 -1% 449 -1%
2/11/2019 10888.8 -1% 446 -1%
2/12/2019 10831.4 -1% 443 -1%
2/14/2019 10746.0 0% 437 -1%
2/15/2019 10724.4 -1% 431 -3%
2/18/2019 10641.0 0% 419 0%
2/19/2019 10604.3 1% 418 1%
2/20/2019 10735.5 1% 422 0%
2/21/2019 10789.8 0% 424 2%
2/22/2019 10791.7 1% 432 -1%
2/25/2019 10880.1 0% 429 -1%
2/26/2019 10835.3 0% 426 1%
2/27/2019 10806.7 0% 432 1%
2/28/2019 10792.5 1% 435 2%
3/1/2019 10863.5 1% 442 -1%
3/5/2019 10987.5 1% 440 -1%
3/6/2019 11053.0 0% 434 -1%
3/7/2019 11058.2 0% 430 0%
3/8/2019 11035.4 1% 429 2%
3/11/2019 11168.0 1% 439 1%
3/12/2019 11301.2 0% 444 -2%
3/13/2019 11341.7 0% 437 0%
3/14/2019 11343.3 1% 436 -3%
3/15/2019 11426.8 0% 423 1%
3/18/2019 11462.2 1% 425 0%
3/19/2019 11532.4 0% 424 0%
3/20/2019 11521.0 -1% 423 0%
3/22/2019 11456.9 -1% 422 -1%
3/25/2019 11354.3 1% 417 1%
3/26/2019 11483.3 0% 422 -3%
3/27/2019 11445.0 1% 408 0%
3/28/2019 11570.0 1% 408 -2%
4/1/2019 11669.2 0% 398 0%
4/2/2019 11713.2 -1% 399 0%
4/3/2019 11644.0 0% 401 0%
4/4/2019 11598.0 1% 402 -1%
 4/5/2019 11666.0 -1% 398 0%
4/8/2019 11604.5 1% 398 1%
4/9/2019 11672.0 -1% 401 0%
4/10/2019 11584.3 0% 401 0%
4/11/2019 11596.7 0% 401 1%
4/12/2019 11643.5 0% 404 0%
4/15/2019 11690.3 1% 403 1%
4/16/2019 11787.2 0% 406 -1%
4/18/2019 11752.8 -1% 402 0%
4/22/2019 11594.5 0% 401 0%
4/23/2019 11576.0 1% 400 -1%
4/24/2019 11726.2 -1% 396 -1%
4/25/2019 11641.8 1% 392 1%
4/26/2019 11754.7 0% 395 0%
4/30/2019 11748.2 0% 395 -4%
5/2/2019 11724.8 0% 380 -1%
5/3/2019 11712.3 -1% 378 -1%
5/6/2019 11598.3 -1% 375 -1%
5/7/2019 11497.9 -1% 373 -2%
5/8/2019 11359.5 -1% 365 0%
5/9/2019 11301.8 0% 365 1%
5/10/2019 11278.9 -1% 367 -2%
5/13/2019 11148.2 1% 361 2%
5/14/2019 11222.0 -1% 366 -1%
5/15/2019 11157.0 1% 361 -1%
5/16/2019 11257.1 1% 359 2%
5/17/2019 11407.2 4% 367 3%
5/20/2019 11828.3 -1% 380 0%
5/21/2019 11709.1 0% 380 1%
5/22/2019 11737.9 -1% 383 0%
5/23/2019 11657.0 2% 383 4%
5/24/2019 11844.1 1% 396 0%
5/27/2019 11924.8 0% 397 0%
5/28/2019 11928.8 -1% 395 0%
5/29/2019 11861.1 1% 396 -1%
5/30/2019 11945.9 0% 394 0%
5/31/2019 11922.8 1% 393 3%
6/3/2019 12088.5 -1% 406 -1%
6/4/2019 12021.7 -1% 403 -1%
6/6/2019 11843.8 0% 400 0%
6/7/2019 11870.7 0% 401 1%
6/10/2019 11922.7 0% 406 0%
6/11/2019 11965.6 0% 407 0%
6/12/2019 11906.2 0% 406 0%
6/13/2019 11914.0 -1% 406 -2%
6/14/2019 11823.3 -1% 398 0%
6/17/2019 11672.2 0% 398 -5%
6/19/2019 11691.5 1% 379 2%
6/20/2019 11831.8 -1% 385 1%
6/21/2019 11724.1 0% 390 0%
6/24/2019 11699.7 1% 390 0%
6/25/2019 11796.5 0% 392 0%
6/26/2019 11847.5 0% 392 2%
6/27/2019 11841.5 0% 398 0%
6/28/2019 11788.8 1% 398 0%
7/1/2019 11865.6 0% 399 0%
7/2/2019 11910.3 0% 400 1%
7/3/2019 11916.8 0% 405 -1%
7/4/2019 11946.8 -1% 400 1%
7/5/2019 11811.2 -2% 404 -1%
7/8/2019 11558.6 0% 399 1%
7/9/2019 11555.9 0% 403 1%
7/10/2019 11498.9 1% 407 0%
7/11/2019 11582.9 0% 406 0%
7/12/2019 11552.5 0% 405 1%
7/15/2019 11588.3 1% 408 3%
7/16/2019 11662.6 0% 422 1%
7/17/2019 11687.5 -1% 428 -1%
7/18/2019 11596.9 -2% 426 -2%
7/19/2019 11419.3 -1% 417 0%
7/22/2019 11346.2 0% 418 1%
7/23/2019 11331.0 -1% 421 -1%
7/24/2019 11271.3 0% 418 0%
7/25/2019 11252.2 0% 420 1%
7/26/2019 11284.3 -1% 425 0%
7/29/2019 11189.2 -1% 425 -1%
7/30/2019 11085.4 0% 420 1%
7/31/2019 11118.0 -1% 423 0% 14000.0
8/1/2019 10980.0 0% 422 0%
12000.0
8/2/2019 10997.3 -1% 424 1%
8/5/2019 10862.6 1% 427 1% 10000.0
8/6/2019 10948.3 -1% 430 0%
8/7/2019 10855.5 2% 429 1% 8000.0

8/8/2019 11032.5 1% 435 1% 6000.0

8/9/2019 11109.7 -2% 439 -2%
8/13/2019 10925.8 1% 429 1% 4000.0
8/14/2019 11029.4 0% 432 -1% 600
2000.0
8/16/2019 11047.8 0% 428 1%
8/19/2019 11053.9 0% 432 0% 500 0.0
8/25/2014 5/25/2015
8/20/2019 11017.0 -1% 432 -1%
400
8/21/2019 10918.7 -1% 427 -1%
8/23/2019 10829.3 424
300

200

100

0
400

300

200

100

0
3 63 123 183 243 30
Covariance of market and dabur returns /Variance of market
0.61

0.6958
 Nifty50
14000.0

12000.0

10000.0

8000.0

6000.0

4000.0 Dabur Price

600
2000.0

500 0.0
8/25/2014 5/25/2015 2/25/2016 11/25/2016 8/25/2017 5/25/2018 2/25/2019
400

300

200

100

0
400

300

200

100

0
3 63 123 183 243 303 363 423 483 543 603 663 723 783 843 903 963 1023108311431203