rohit bansal | Rajiv Gandhi Institute Of Petroleum Technology (original) (raw)

Papers by rohit bansal

For sharing the information between solutions, biogeography based optimization (BBO) procedure us... more For sharing the information between solutions, biogeography based optimization (BBO)
procedure uses migration operator based on biogeography. Differential evolution (DE) is
another well-organized, robust and most common evolutionary procedure for solving global
optimization problems. We have implemented BBO with DE algorithm and proposes a new
efficient approach namely BBO/DE. To generate an effective candidate solution BBO/DE
hybridize the BBO with the DE effectively and the BBO migration operators are adjusted on
the basis of iteration count to enhance the performance. To certify the effectiveness of our
suggested approach, we have used 6 benchmark functions and applied our proposed
solution. From the comparison results it can be induced that the suggested methodology is
effective and efficient both in comparison to traditional BBO and DE

Nonlinearity and Algebraic(annihilator) immunity are two core properties of a Boolean function be... more Nonlinearity and Algebraic(annihilator) immunity are two core properties of a Boolean function because optimum values of Annihilator Immunity and nonlinearity are required to resist fast algebraic attack and differential cryptanalysis respectively. For a secure cypher system, Boolean function(S-Boxes) should resist maximum number of attacks. It is possible if a Boolean function has optimal trade-off among its properties. Before constructing Boolean functions, we fixed the criteria of our constructions based on its properties. In present work, our construction is based on annihilator immunity and nonlinearity. While keeping above facts in mind,, we have developed a multi-objective evolutionary approach based on NSGA-II and got the optimum value of annihilator immunity with good bound of nonlinearity. We have constructed balanced Boolean functions having the best trade-off among balancedness, Annihilator immunity and nonlinearity for 5, 6 and 7 variables by the proposed method.

This article describes how swarm intelligence (SI) and bio-inspired techniques shape in-vogue top... more This article describes how swarm intelligence (SI) and bio-inspired techniques shape in-vogue topics in the advancements of the latest algorithms. These algorithms can work on the basis of SI, using physical, chemical and biological frameworks. The authors can name these algorithms as SI-based, inspired by biology, physics and chemistry as per the basic concept behind the particular algorithm. A couple of calculations have ended up being exceptionally effective and consequently have turned out to be the mainstream devices for taking care of real-world issues. In this article, the reason for this survey is to show a moderately complete list of the considerable number of algorithms in order to boost research in these algorithms. This article discusses Ant Colony Optimization (ACO), the Cuckoo Search, the Firefly Algorithm, Particle Swarm Optimization and Genetic Algorithms in detail. For ACO a real-time problem, known as Travelling Salesman Problem, is considered while for other algorithms a min-sphere problem is considered, which is well known for comparison of swarm techniques.

Initial public offer (IPOs) is a prominent milestone in the life cycle of a firm and has a signif... more Initial public offer (IPOs) is a prominent milestone in the life cycle of a firm and has a significant effect on the firm's performance. Worldwide, underpricing is one of the most observed anomalies in the new issue market. In this paper, we describe the impact of Indian stock market crisis on initial performance of IPO underpricing and to examine the changes occurs, due to the market crisis. We composed variables the likes of firm's age, issue size (total amount to be raised), market capitalization, subscription rate, number of shares offered to investor's and pricing mechanism (dummy variable). This paper attempts to explore the relationship between the dependent variables underpricing of an issue and firm's age, issue size (total amount to be raised), market capitalization, subscription rate and number of shares offered to investor's and pricing mechanism. We determine 51.4% R square & 43.3% adjusted R square. However, Durbin-Watson has given 1.793 values, whi...

I n t e r n a ti o nal l y I n de xe d & L i st e d Ref e r r e d e -J o ur n al ABSTRACT INTRODU... more I n t e r n a ti o nal l y I n de xe d & L i st e d Ref e r r e d e -J o ur n al ABSTRACT INTRODUCTION: The initial public offering (IPO) is an important life cycle of a firm and has significant effects on the firm's ownership structure. Ownership structure plays a dominant role in shareholding pattern in initial public offerings.

The initial public offering (IPO) is a prominent life cycle of a firm and has significant possess... more The initial public offering (IPO) is a prominent life cycle of a firm and has significant possessions on the firm's ownership structure. Ownership structure portrays a dominant role in shareholding pattern in initial public offerings. Paper navigates the association between ownership structure and the level of underpricing at Indian stock market. We assemble of a large sample of 83 firms for listed on Bombay stock exchange during market crisis 2008-2011. It argued that higher underpricing induces investor's participation. Shareholding patterns segmented into four divisions, i.e. Indian promoters, foreign promoters, Institutional non promoters and non institutional non promoters. Activating a sample of Indian IPOs of 83, for that, we confirm of statistically significant connection between ownership structures, i.e. Indian promoters, foreign promoters, institutional non promoters and non institutional non promoters, firm's age and level of underpricing. Comprehensive, our ...

Most financial statement analyses focus on firms belonging to industries that either contribute s... more Most financial statement analyses focus on firms belonging to industries that either contribute significantly to economic figures or posit in a highly competitive business environment. The objective of this paper is an analysis done to see the extent to which a company has implemented using rules financial performance is good and right. This study investigates performance of commercial banking sector for the period of April-2011 to March-2014. Financial statements of Axis bank, ICICI bank, Federal bank and HDFC bank for the indicated periods were obtained from database such as CMIE, Prowess, money control and yahoo finance. Necessary information derived from these financial statements were summarized and used to compute the financial ratios for the four-year period. Financial ratios are tools used to measure the profitability, liquidity and solvency performance of four major Indian commercial banks. This research is to analyze the financial statements of these banks using liquidity ratios, activity ratios, leverage ratios, profitability ratios, and market value ratios. For liquidity, the following ratios were used: current ratio, quick or acid-test ratio. For activity, Inventory turnover ratio, debtor turnover ratio and working capital turnover ratios were used. For leverage, the following ratios were used i.e. debt ratio, equity ratio, and interest coverage ratio. For profitability, profit margin, net profit margin, return on assets, return on shareholder's equity, and earnings per share were used. For market value, price-earnings ratio and earning par share ratios were used.

Fast Moving Consumer Goods (FMCG) industry plays an important role in economic development of a c... more Fast Moving Consumer Goods (FMCG) industry plays an important role in economic development of a country. The FMCG system of India is featured by a large group of FMCG companies, serving many kinds of consumer and durables goods for the people. The Hindustan Unilever Ltd. popularly known as HUL or erstwhile as HLL is one of the leading FMCG Company in India. Hindustan Unilever Limited (HUL) is India's largest fast moving consumer goods company with a heritage of over 80 years in India and touches the lives of two out of three Indians. Apart from HUL we have taken V2 Retail erstwhile known as Vishal Retail, Shoppers Stop, which is leading stores providing goods in fashion and cosmetics verticals and Pantaloons Fashion & Retail one of the biggest rival of Shoppers stop and V2 retail in the business. The objective of this research is to measure the financial and accounting performance of Indian leading IT companies for the period of 2009 to 2013. Financial statements and income statements of HUL, Vishal retail, Shoppers stop, and Pantaloons fashion & retail have been taken from database i.e. CMIE, Prowess, and Money Control and Yahoo Finance. Required information derived from these financial statements were summarized and used to compute financial ratios for the five-year period. A graphical representation is provided in order to compare financial ratios such as profitability, liquidity, solvency, assets turnover and market based ratios.

Natural gas is fast becoming the main component in India’s vast energy sector. Due to its ease of... more Natural gas is fast becoming the main component in India’s vast energy sector. Due to
its ease of handling and greater efficiency, natural gas is proving its utility both as fuel
and feedstock. It has helped to attract investments and catalyse new demand and supply.
This sector has witnessed significant developments over the years. The objective of this
paper is an analysis done to see the extent to which a company has implemented using
rules financial performance is good and right. Data has been taken from 2009 to 2013 in
this study. Financial statements of GAIL, EGL, IGL and GGC for the indicated periods
were obtained from websites such as prowess, CMIE, money control and yahoo finance.
Necessary information derived from these financial statements were summarized and
used to compute the financial ratios for the five-year period. Financial ratios are tools
used to measure the profitability, liquidity and solvency performance of four major
Indian gas distribution companies. This research is to analyze the financial statements of
these companies using liquidity ratios, activity ratios, leverage ratios, profitability ratios,
and market value ratios. For liquidity, the following ratios were used: current ratio,
quick or acid-test ratio. For activity, Inventory turnover ratio, debtor turnover ratio and
working capital turnover ratios were used. For leverage, the following ratios were used
i.e. debt ratio, equity ratio, and interest coverage ratio. For profitability, net profit
margin, return on assets, return on shareholder’s equity, and earnings per share were
used. For market value, price-earnings ratio and earning par share ratios were used.

IT sector plays a vital role in strengthening the Indian economy. In order to compare and set ben... more IT sector plays a vital role in strengthening the Indian economy. In order to compare and set benchmark, a financial statement analysis should be made of all companies. The objective of the present paper is to measure the financial and accounting performances of leading Indian IT companies for the period 2010-2014. Financial statements and income statements of Tata Consultancy Services (TCS), Wipro, Infosys and Tech Mahindra were taken from databases like CMIE Prowess, Money Control and Yahoo Finance. The information derived from these financial statements were summarized and used to compute financial ratios for the five-year period. A graphical representation is provided in order to compare the financial ratios of one industry against the others for the same period. Based on factors like current ratio, return on shareholder's equity, earnings per share, debtor turnover ratio and most importantly debt equity ratio, it is concluded that Infosys is the most sought-after company for investors. Along similar lines is TCS whose working capital turnover, total asset turnover and DuPont analysis returns show encouraging signs for shareholders who have profits as their prime point of consideration.

The Oil sector is considered to be one of the important areas of concern in today’s world scenari... more The Oil sector is considered to be one of the important areas of concern in today’s world
scenario. Most financial statement analyses focus on firms belonging to industries that either
contribute significantly to economic figures or posit in a highly competitive business
environment. The objective of this paper is to analyze comparative financial performance of
the Indian oil companies like Indian Oil Corporation Ltd,, Bharat Petroleum Corporation
Ltd., Hindustan Petroleum Corporation Ltd., and Cairn India with some of the leading global
companies like British Petroleum and Royal Dutch Shell Plc. during 2010-2014. Various
ratios like liquidity ratios, activity ratios, leverage ratios, profitability ratios and market
value ratios have been used to measure financial performance of selected oil companies.
Result reveals that the current ratio is the highest for the Cairn India, which shows good
short term financial strength of the company. It was found that British Petroleum (BP) and
Royal Dutch Shell Plc (RDS) have better return on assets and shareholder’s equity but it has
been depreciating for the period 2012-14. Over the period of 2010-2014, the Indian Oil
PSU’s had generated more earning per shares to their shareholder’s investment compared to
Cairn India, British Petroleum and Royal Dutch Shell. However, profitability of BP and RDS
were much better in the period of 2010-14 as compared to all Indian oil companies.

Sustainable economic development is much needed to ensure human wellbeing and reduce social inequ... more Sustainable economic development is much needed to ensure human wellbeing and reduce social inequality. In recent times, global leaders have come closer to arrive at consensus to transform current unsustainable
economic developments into sustainable green economic growth. Viability of green economy depends on several factors such as government policy, investment climate, and concerns for environment. This chapter discusses drivers of green economy and the role of renewables to drive green growth in India.

This paper examines the impact on under pricing and firm market value arising from IPO firms impl... more This paper examines the impact on under pricing and firm market value arising from IPO firms implementing a range of Ex-ante uncertainty attributes such as the new firms, according to their incorporation of the year. Furthermore, we analyzed the several determinants of Ex-ante uncertainty such as subscription rate, issue size, market capitalization and ownership pattern and test the relationship between Ex-ante uncertainty and underpricing. We dealt with firms as new firms, which have been started their business since last one to five years. Using a comprehensive sample of 82 listed IPO firms from across India. We tested binary probit regression (Quadratic hill climbing) and QML (Huber/White) standard errors and covariance. Evidence was encountered a mixed impact from the New firm's on the Ex-ante uncertainty, that is subscription rate, issue size, market capitalization and non institutional non promoters have a significant association with a degree of underpricing of New firms. McFadden R-squared obtained 26.2% value.

The Indian capital market regulator, Securities and Exchange Board of India (SEBI) introduced a u... more The Indian capital market regulator, Securities and Exchange Board of India (SEBI) introduced a unique accreditation mechanism for Initial Public Offerings (IPOs) in 2007, whereby all IPOs have to undergo mandatory quality grading by independent rating agencies. In this paper, we claim that such an objective—autonomous and exogenous certifying mechanism—provides a better opportunity to test the well-established credit rating hypothesis, especially in the context of the emerging markets with institutional voids. Employing a sample of 142 Indian IPOs (January 2007 to December 2011), we also experiment ex-ante uncertainty with the efficacy of IPO grading mechanism. Grading decreases IPO underpricing and positively influences the demand of retail investors, issue size, earnings before interest and dividend, long-term debt-equity, equity ratio and profit to the book value ratio. Grading also diminishes the number of shares offered, debt-equity ratio and earnings before interest, dividend and tax, fixed assets ratio, and has much impact on ex-ante uncertainty. Notwithstanding, grading does not affect the subscription rate, offer timing (difference in days between offer days and listing days), firm's age, debtors turnover ratio, creditor payment method, cash to price earnings ratio, Post-Issue Promoter's Holding (PIPH), interest coverage ratio, inventory turnover ratio, market capitalization, price earnings ratio, return on capital employed and return on net worth of the IPOs. IPO grading is important to capture firm size, business group affiliation and firm's quality of corporate governance. Our findings reveal that in the emerging markets, a regulator's role to signal the quality of an IPO contributes to market welfare.