Lesson 4 Practice - Stocks

Valuation of Equity
- Value of stocks like any other financial asset = the present value of all future cash streams
- Future cash flows include
(a)
(b)
- D0
- D1
- P0
- P1
- D1/P0
- (P1-P0)/P0
-g
rs
tion of Equity
of stocks like any other financial asset = the present value of all future cash streams
e cash flows include
Dividend
Capital gain
The lates dividend which has already been paid
Dividend the stock holder expects to receive in year t
D0 is known with certainty. However, D1, D2, D3 .Dt is not known and is an estimate which may d
Actual market price of the stock today
Price expected 1 year from time 0
Expected dividend yield
Expected Capital gain yield
Expected growth rate
Minimum acceptable or required rate of return. Investors are expected to be rational. Therefore
their minimum rate of return should factor in risk, inflation and the real rate of return
e which may differ from investor to investor
1 Value of stock = the PV of expected future dividends

D1/(1+rs)1 +D2/(1+rs)2+D3/(1+rs)3+.+D/(1+rs)
Dividend
2015
2016
2017
2018
2019
2020
15
16
17
20
22
25
rs
15%
2 Constant growth shares

D1/rs-g
D0 =
1.15
rs
15%
8%
3 market multiples
P/E
Forecasted earnings per share

Price of similar stock
What is the price of the stock?
7.5
120
ri = rRF +( RPM)bi
4 CAPM
required rate of return for stock i can be found by the above formula
Risk free rate
12%
Risk premium
4%
Beta of the stcok
2
AGRICULTURAL
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GEMS
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INVESTMENT
INVESTMENT SERVICES
GEMS
12
AGRICULTURAL
Eaagads Ltd Ord 1.25 AIM
Kakuzi Ltd Ord.5.00
Kapchorua Tea Co. Ltd Ord Ord 5.00 AIM
The Limuru Tea Co. Ltd Ord 20.00 AIMS
Rea Vipingo Plantations Ltd Ord 5.00
Sasini Ltd Ord 1.00
Williamson Tea Kenya Ltd Ord 5.00 AIM
Car & General (K) Ltd Ord 5.00
Marshalls (E.A.) Ltd Ord 5.00
Sameer Africa Ltd Ord 5.00
BANKING
Barclays Bank of Kenya Ltd Ord 0.50
CFC Stanbic of Kenya Holdings Ltd ord.5.00
Diamond Trust Bank Kenya Ltd Ord 4.00
Equity Group Holdings Ltd Ord 0.50
Housing Finance Co.Kenya Ltd Ord 5.00
I&M Holdings Ltd Ord 1.00
Kenya Commercial Bank Ltd Ord 1.00
National Bank of Kenya Ltd Ord 5.00
NIC Bank Ltd Ord 5.00
Standard Chartered Bank Kenya Ltd Ord 5.00
The Co-operative Bank of Kenya Ltd Ord 1.00
Express Kenya Ltd Ord 5.00 AIMS
Hutchings Biemer Ltd Ord 5.00
Kenya Airways Ltd Ord 5.00
Longhorn Publishers Ltd Ord 1.00 AIMS
Nation Media Group Ltd Ord. 2.50
Scangroup Ltd Ord 1.00
Standard Group Ltd Ord 5.00
TPS Eastern Africa Ltd Ord 1.00
Uchumi Supermarket Ltd Ord 5.00
ARM Cement Ltd Ord 1.00
Bamburi Cement Ltd Ord 5.00
Crown Paints Kenya Ltd Ord 5.00
E.A.Cables Ltd Ord 0.50
E.A.Portland Cement Co. Ltd Ord 5.00
AGRICULTURAL
AGRICULTURAL
AGRICULTURAL
AGRICULTURAL
AGRICULTURAL
AGRICULTURAL
AGRICULTURAL
AGRICULTURAL
BANKING
BANKING
BANKING
BANKING
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BANKING
BANKING
ENERGY & PETROLEUM

KenGen Co. Ltd Ord. 2.50
KenolKobil Ltd Ord 0.05
Kenya Power & Lighting Co Ltd Ord 2.50
Kenya Power & Lighting Co Ltd 4%
Total Kenya Ltd Ord 5.00
Umeme Ltd Ord 0.50
INSURANCE
British-American Investments Co.(Kenya) Ltd Ord 0.10
CIC Insurance Group Ltd ord.1.00
Jubilee Holdings Ltd Ord 5.00
Kenya Re Insurance Corporation Ltd Ord 2.50
Liberty Kenya Holdings Ltd Ord.1.00
Pan Africa Insurance Holdings Ltd Ord 5.00
INVESTMENT
Centum Investment Co Ltd Ord 0.50
Olympia Capital Holdings ltd Ord 5.00
Trans-Century Ltd Ord 0.50 AIM
INVESTMENT SERVICES
Nairobi Securities Exchange Ltd Ord 4.00
A.Baumann & Co Ltd Ord 5.00 AIM
B.O.C Kenya Ltd Ord 5.00
British American Tobacco Kenya Ltd Ord 10.00
Carbacid Investments Ltd Ord 1.00
East African Breweries Ltd Ord 2.00
Eveready East Africa Ltd Ord.1.00
Kenya Orchards Ltd Ord 5.00 AIM
Mumias Sugar Co. Ltd Ord 2.00
Unga Group Ltd Ord 5.00
Safaricom Ltd Ord 0.05
GEMS
Atlas Development & Support Services Ltd
Flame Tree Group Holdings Ltd Ord 0.825
Home Afrika Ltd Ord 1.00
Kurwitu Ventures Ltd Ord 100.00
AGRICULTURAL
BANKING
ENERGY & PETROLEUM

ENERGY & PETROLEUM
ENERGY & PETROLEUM
ENERGY & PETROLEUM
ENERGY & PETROLEUM
ENERGY & PETROLEUM
ENERGY & PETROLEUM
ENERGY & PETROLEUM
INSURANCE
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INSURANCE
INSURANCE
INSURANCE
INSURANCE
INSURANCE
INVESTMENT
INVESTMENT
INVESTMENT
INVESTMENT
INVESTMENT SERVICES
INVESTMENT SERVICES
TELECOMMUNICATION & TECHNOLO
GEMS
GEMS
GEMS
GEMS
GEMS
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
ENERGY & PETROLEUM

INSURANCE
INVESTMENT
INVESTMENT SERVICES
GEMS
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
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10
1-Apr-15
2-Apr-15
3-Apr-15
4-Apr-15
5-Apr-15
6-Apr-15
7-Apr-15
8-Apr-15
32.25
33.75
280
130
1124
27.5
14.35
280
33.75
280
130
1124
27.5
14.15
280
34.5
280
130
993
27.5
15.1
280
49.5
12
5.65
49.5
12
5.75
49.5
11.9
5.55
16.55
126
239
51
37.5
127
60.5
24
55.5
338
21
16.45
126
234
49.5
37.25
127
61
23.5
57.5
336
21
16.45
126
234
49.5
35.75
127
61.5
24
57
336
21
5.6
20.25
7.95
8.65
235
46
35.75
33.75
10.5
0
80
159
119
15.95
59
5.6
20.25
7.75
8.55
240
46.75
33.25
34
10.5
0
78.5
159
119
15.5
59
5.65
20.25
7.45
8.4
240
44.25
35
34.25
10.35
0
79
149
119
15.65
59.5
280.00
130.00
1124.00
27.50
14.35
280.00
49.50
12.00
5.50
16.45
126.00
242.00
52.00
37.75
127.00
60.50
24.00
59.50
345.00
21.25
5.60
20.25
8.10
8.70
245.00
46.00
38.25
33.75
10.10
78.50
160.00
119.00
16.00
59.00
10.05
9.25
17.85
5.30
5.50
26.25
18.00
27.00
9.85
569.00
18.50
25.00
121.00
63.00
5.90
18.25
19.90
11.10
135.00
798.00
21.75
316.00
3.90
112.00
2.40
44.50
ECHNOLOGY
17.00
11.40
9.20
3.20
1500.00
269.73
22.33
100.05
69.82
22.43
0
10.85
9
17.45
5.3
5.5
24.25
19
0
26
9.8
570
18.8
25.25
125
0
59.5
5.8
18.55
0
19.9
0
11.1
133
800
21
321
3.9
112
2.3
43.75
0
16.6
0
11.4
9.25
3.25
1500
269.94
22.38
98.65
61.66
18.71
0
10.9
9.05
17.4
5.3
5.5
26
19
0
26
9.5
570
18.6
25
128
0
60.5
5.65
18.1
0
19.65
0
11.1
133
799
20.75
324
3.9
112
2.2
43.5
0
15.9
0
11.4
9.45
3.4
1500
269.94
22.38
98.65
61.66
18.71
269.94
22.38
98.65
61.66
18.71
269.94
22.38
98.65
61.66
18.71
269.94
22.38
98.65
61.66
18.71
269.91
22.42
98.03
61.83
18.64
0
10.65
9.05
17.3
5.3
5.5
25
19
0
25
9.5
571
18.65
25
121
0
60.5
5.6
18.25
0
19.55
0
11.1
133
799
20.75
324
3.7
112
2.3
43
0
15.95
0
11.3
9.3
3.5
1500
251.44
22.32
97.95
60.77
18.69
96.30
45.61
241.46
57.95
265.00
84.94
141.27
84.17
32.68
241.28
57.95
206.02
80.15
124.42
84.17
32.68
241.28
57.95
269.94
80.15
137.20
84.17
32.68
241.28
57.95
269.94
80.15
137.20
84.17
32.68
241.28
57.95
269.94
80.15
137.20
84.17
32.68
241.28
57.95
269.94
80.15
137.20
84.33
33.13
240.96
57.95
205.95
79.93
124.46
84.21
32.13
240.96
57.85
203.83
79.36
123.80
11
12
13
14
15
16
17
18
9-Apr-15
10-Apr-15
11-Apr-15
12-Apr-15
13-Apr-15
14-Apr-15
15-Apr-15
16-Apr-15
34.75
280
130
950
27.5
16.5
280
49.75
11.9
5.6
16.3
125
231
47.5
36
127
61.5
23
56.5
339
21
5.65
20.25
7.7
8.3
236
43.75
35.25
33.75
10.35
0
79
155
117
15.7
59.5
0
10.3
8.9
17.3
5.3
5.5
24.75
19
0
25.25
9.4
520
18.65
24.5
121
0
59.5
5.55
17.65
0
19.65
0
11.1
135
720
20.75
323
3.65
112
2.3
42.5
0
16.35
0
11.4
9.35
3.5
1500
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
77.82
31.91
221.71
57.83
203.18
79.23
118.49
77.82
31.91
221.71
57.83
245.54
79.23
126.96
77.82
31.91
221.71
57.83
245.54
79.23
126.96
77.82
31.91
221.71
57.83
245.54
79.23
126.96
77.82
31.91
221.71
57.83
245.54
79.23
126.96
77.82
31.91
221.71
57.83
245.54
79.23
126.96
77.82
31.91
221.71
57.83
245.54
79.23
126.96
77.82
31.91
221.71
57.83
245.54
79.23
126.96
19
20
21
22
23
24
25
26
17-Apr-15
18-Apr-15
19-Apr-15
20-Apr-15
21-Apr-15
22-Apr-15
23-Apr-15
24-Apr-15
36
280
141
952
27.5
15.5
278
35
284
141
952
27.5
15.9
278
35
284
130
952
27.5
15.35
278
35
284
130
952
27.5
15.75
280
45.5
11.9
5.65
45.5
11.9
5.65
45.5
11.9
5.45
45.5
12
5.45
15.6
125
226
47.5
35
125
64
23
57.5
344
21.5
15.45
124
225
48.25
34.25
120
64.5
23.75
57.5
344
21.5
15.3
124
226
48
33
120
64.5
23.25
58
344
21
15.4
124
227
49.25
32.75
116
64
23.25
58
345
21
5.7
20.25
7.25
8.1
236
44
37.25
34
10.35
0
74
150
101
15.65
59
5.6
20.25
7.4
8.15
238
44.5
37.25
34
10.5
0
73.5
150
101
15.5
59.5
5.8
20.25
7.45
8.05
236
45.75
37.25
34
10.15
0
73.5
150
110
15.65
54.5
5.8
20.25
7.4
8
224
45.75
37.25
34
10.5
0
73.5
150
110
15.6
56
0
9.95
8.85
17.1
5.3
5.5
23.5
17.45
0
24.5
9.25
566
17.8
23.75
126
0
59.5
5.5
17.6
0
19.6
0
11.1
134
785
20.5
330
4
110
2.25
45.25
0
17.25
0
11.4
9.8
3
1500
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
245.54
22.42
97.56
60.91
18.62
247.14
21.02
97.65
60.10
18.43
0
9.75
8.95
17.15
5.3
5.5
22.5
19
0
22.25
9.2
569
17.75
23
121
0
60
5.65
16.7
0
19.25
0
11.1
134
728
20.25
329
4.05
110
2.25
46.25
0
17.2
0
11.4
9.8
3
1500
247.63
21.02
97.12
60.33
18.48
0
9.75
8.95
17.1
5.3
5.5
23.75
19
0
20.25
9.2
571
17.9
23.25
121
0
60
5.6
17.65
0
19.4
0
11.1
132
772
21
320
4.25
110
2.2
45
0
17.05
0
11.35
9.7
3
1500
245.98
20.95
97.05
60.22
17.66
0
9.7
9
17.35
5.3
5.5
23.25
17.45
0
20.5
9.2
570
17.9
23
120
0
60
5.65
17.25
0
19.5
0
11.1
132
705
21
319
4.3
110
2.25
45.5
0
17.2
0
11.1
9.8
3.05
1500
246.32
20.98
96.91
59.04
17.94
246.32
20.98
96.91
59.04
17.94
77.82
31.91
221.71
57.83
245.54
79.23
126.96
77.82
31.91
221.71
57.83
245.54
79.23
126.96
77.82
31.91
221.71
57.83
245.54
79.23
126.96
83.00
32.60
237.65
57.00
203.76
78.87
122.80
83.15
31.80
223.34
57.03
203.92
78.73
119.85
83.33
31.95
234.03
57.13
203.56
78.63
122.00
82.98
31.77
217.28
57.15
203.66
77.98
118.57
82.98
31.77
217.28
57.15
246.32
77.98
127.10
27
28
29
30
31
32
33
34
25-Apr-15
26-Apr-15
27-Apr-15
28-Apr-15
29-Apr-15
30-Apr-15
1-May-15
2-May-15
33.25
284
125
952
27.5
16.25
280
33.25
284
125
952
27.5
16.45
280
35
259
125
952
27.5
16.45
280
33
284
125
952
27.5
16.45
280
45.5
12
5.3
45.5
12
5.7
48.75
12
5.75
48.75
12
5.55
15.6
124
228
49.5
34.25
120
63
23.25
59
347
20
15.5
124
229
49.5
34.25
123
62.5
22.5
58.5
346
20
15.7
124
230
49.5
33.75
125
62
22.5
59
348
20.25
15.95
124
230
49.25
33.75
127
62.5
22
59
344
20.75
5.6
20.25
7.3
7.75
225
44.75
35
34.75
10.65
0
76
150
110
15.55
55
5.6
20.25
7.25
7.75
225
45.25
33.25
34.75
10.2
0
75.5
149
109
15.55
54.5
5.6
20.25
7.15
7.75
226
44.75
32.75
35
10.5
0
76
150
102
15.75
54.5
5.75
20.25
7.1
8
234
43.75
35
34.5
10.1
0
76
150
102
15.85
55
0
9.8
9.05
17.4
5.3
5.5
24.5
17.1
0
22.25
9.25
570
18.05
23.25
120
0
61
5.5
16.1
0
19.5
0
11.1
135
712
20.25
320
4.4
110
2.15
50
0
17.1
0
11
9.75
3.15
1500
246.32
20.98
96.91
59.04
17.94
246.32
20.98
96.91
59.04
17.94
245.43
20.93
97.60
59.12
17.80
0
10
9.05
17.2
5.3
5.5
23.75
17.1
0
21.75
9.3
569
17.95
24.5
120
0
62
5.4
16.35
0
19.55
0
11.1
135
715
20.25
319
4.2
110
2.15
50
0
17.2
0
10.75
9.4
3.05
1500
245.46
21.07
97.71
58.80
17.72
0
9.95
9.1
17.05
5.3
5.5
23.75
17.1
0
21
9.25
598
17.95
23.75
124
0
64
5
16
0
19.55
0
11.1
135
723
20.5
320
4.15
110
2.05
49
0
17.3
0
10.75
8.55
3.1
1500
242.14
22.17
98.15
58.99
17.73
0
9.95
9.45
17.1
5.3
5.5
24
18.8
0
22
9.2
570
17.8
22.5
122
0
63.5
5.1
15.75
0
19.6
0
11.1
135
719
20.5
321
4.15
110
2.05
49
0
17.4
0
10.75
9.4
3.1
1500
245.42
22.10
98.00
59.85
17.89
245.42
22.10
98.00
59.85
17.89
245.42
22.10
98.00
59.85
17.89
82.98
31.77
217.28
57.15
246.32
77.98
127.10
82.98
31.77
217.28
57.15
246.32
77.98
127.10
83.33
31.73
219.59
57.20
204.05
78.36
119.18
83.04
31.90
220.34
57.10
203.98
78.25
119.27
86.57
32.65
222.40
57.08
203.43
78.57
120.42
83.41
32.28
221.40
57.08
203.90
78.92
119.61
83.41
32.28
221.40
57.08
245.42
78.92
127.92
83.41
32.28
221.40
57.08
245.42
78.92
127.92
35
36
37
38
39
40
41
42
3-May-15
4-May-15
5-May-15
6-May-15
7-May-15
8-May-15
9-May-15
10-May-15
33.5
295
125
952
27.5
16.35
280
0
48.75
12
5.4
0
15.8
124
228
49.5
33.75
138
62.5
20.5
59
321
21.25
34
295
125
952
27.5
16.55
274
0
48.75
12
5.4
0
15.8
124
235
49
33.25
137
62
20.75
59
329
21.75
36
300
125
952
27.5
16.6
274
0
46.75
12
5.3
0
15.75
124
242
47.25
34.25
137
60.5
21.5
59.5
332
22
36
300
125
950
27.5
16.75
274
0
48.75
12
5.4
0
15.75
123
240
45.5
33.5
137
59
21
60
322
21.75
36
300
125
950
27.5
16.75
274
0
48.75
12
5.25
0
15.95
123
240
46.5
32.75
134
60.5
20.5
59
320
21.5
5.6
20.25
7.05
8.15
225
44
35
34.5
10.35
0
79.5
147
115
16
55
5.75
20.25
6.95
7.65
225
44
35
34.75
10.35
0
79.5
147
115
15.8
55
5.95
20.25
7
7.95
220
44
35.75
35
10.3
0
80
145
126
16
54
5.8
20.25
7.15
8
220
44
39
36.75
10.7
0
80
147
138
15.8
53
5.85
20.25
7.1
7.8
220
42.75
39
35
10.75
0
80.5
150
138
15.55
54
0
9.9
9.3
17.15
5.3
5.5
23
17
0
23
9.2
570
17.45
21
122
0
64.5
5.3
15.4
0
19.4
0
11.1
135
719
21
322
4.2
105
2.05
45.75
0
17.45
0
10.75
9.4
3.15
1500
245.42
22.10
98.00
59.85
17.89
247.05
16.54
96.65
59.06
17.89
0
9.85
9.25
17.3
5.3
5.5
24.5
17
0
23.25
9.2
590
17.1
22.75
121
0
64.5
5.4
14.15
0
19.55
0
11.1
131
720
20
328
4
105
2.05
44.75
0
17.5
0
10.7
9
3.25
1500
246.29
16.54
97.86
59.02
17.87
0
9.8
9.1
17.2
5.3
5.5
24
17
0
24
9.3
589
17.2
23.75
123
0
64.5
5.35
13.8
0
19.3
0
11.1
131
720
20
325
4.1
105
2.05
44
0
17.55
0
10
9.7
3.25
1500
247.30
16.01
98.72
58.50
17.68
0
9.7
9.05
17.25
5.3
5.5
24
17
0
24.75
9.25
584
17.35
23
125
0
67
5.5
13.6
0
19.35
0
11.1
131
720
20
325
4
105
2
47.25
0
17.15
0
10.75
8.9
3.25
1500
247.04
16.54
97.14
59.26
17.47
0
9.65
9
17.3
5.3
5.5
23.75
18.45
0
24.75
9.25
584
17.1
23
123
0
65
5.3
14.05
0
19.3
0
11.1
130
726
20
321
4
105
2
44
0
17.05
0
10.75
8.4
3.1
1500
247.04
16.50
96.69
59.29
17.58
247.04
16.50
96.69
59.29
17.58
247.04
16.50
96.69
59.29
17.58
83.41
32.28
221.40
57.08
245.42
78.92
127.92
83.14
32.37
221.53
54.60
203.73
77.85
119.07
85.82
32.09
220.53
54.50
203.50
78.44
119.29
85.75
32.28
220.53
54.55
203.53
78.61
119.33
85.23
32.92
220.53
54.50
203.82
78.20
119.40
85.35
32.38
221.78
54.50
203.37
77.99
119.47
85.35
32.38
221.78
54.50
247.04
77.99
128.21
85.35
32.38
221.78
54.50
247.04
77.99
128.21
43
44
45
46
47
48
49
11-May-15
12-May-15
13-May-15
14-May-15
15-May-15
16-May-15
17-May-15
33
300
125
950
27.5
16.1
274
0
46
11.95
5.15
0
15.45
125
238
47.5
32.75
134
57.5
20
58.5
320
22
0
5.45
20.25
6.95
7.95
217
42.25
37.75
35.75
10.55
0
77.5
152
161
14.65
54
33
295
116
950
27.5
15.85
274
0
46
11.95
5.4
0
15.45
123
239
47.75
32
134
58
20.5
57
313
22.75
0
5.6
20.25
7.05
7.95
217
41.5
37.75
36
11
0
79.5
149
165
14.7
59
32.75
298
116
950
27.5
16.15
274
0
46
11.95
5.2
0
15.4
122
235
49.25
31.75
134
58
20.75
56
320
22
0
5.6
20.25
7.05
7.4
211
41.25
37.5
34.75
11.05
0
78
150
165
14.7
59
0
9.4
8.65
16.85
5.3
5.5
22.75
18.4
0
23.5
9.1
570
17.35
24.75
125
0
62.5
5
13.65
0
19
0
11.1
130
773
20
306
3.85
105
2
45
0
16.1
0
11.1
9
3.1
1500
247.04
16.50
96.69
59.29
17.58
247.04
16.50
96.69
59.29
17.58
246.51
15.78
88.39
58.77
17.26
0
9.45
8.6
16.95
5.3
5.5
22.75
18.4
0
23
9
580
17.4
24.75
96.5
0
63.5
4.85
13.5
0
19.05
0
11.1
130
770
20
303
4.05
105
1.95
45.75
0
16.35
0
11.1
9
3
1500
244.48
15.84
87.72
58.68
18.12
0
9.5
8.9
16.65
5.3
5.5
24
18.4
0
23
9
575
17.35
24.75
91
0
63.5
5
13.55
0
19.95
0
11.1
120
774
20
302
4.2
105
2
46
0
16.35
0
11
8.4
3
1500
244.91
15.79
87.86
57.80
18.13
244.91
15.79
87.86
57.80
18.13
244.91
15.79
87.86
57.80
18.13
85.35
32.38
221.78
54.50
247.04
77.99
128.21
85.35
32.38
221.78
54.50
247.04
77.99
128.21
83.33
32.16
233.53
54.43
203.42
73.58
121.37
84.51
28.20
232.78
54.53
203.30
73.20
120.66
84.03
27.57
231.28
54.60
203.30
72.83
120.15
84.03
27.57
231.28
54.60
244.91
72.83
128.48
84.03
27.57
231.28
54.60
244.91
72.83
128.48
50
51
52
53
54
55
56
18-May-15
19-May-15
20-May-15
21-May-15
22-May-15
23-May-15
24-May-15
33
298
116
950
27.5
15.45
274
0
46
11.95
5.15
0
15.35
124
236
49
31.5
134
58
21
55
305
22
0
5.6
20.25
6.9
7.45
216
40.75
37.5
34.75
10.75
0
74
146
158
14.5
59
33
299
126
950
27.5
15.2
274
0
46
11.95
4.75
0
15.3
123
238
48
30.25
134
59
20.75
54.5
319
22
0
5.5
20.25
7.2
7.4
215
40.25
37.5
35
10.7
0
74
149
156
14.15
59
33
299
126
950
27.5
15.45
274
0
46
11.9
4.8
0
15.25
121
235
48
29.75
134
61
21
54
320
22
0
5.5
20.25
7
7.4
215
40
37.5
34.75
10.75
0
78.5
145
165
14.45
59
33
299
130
950
27.5
15.5
274
0
46
11.9
4.85
0
15.2
122
231
47.5
31.25
134
60
21
54
320
22
0
5.5
20.25
7
7.25
212
40
37
36.25
10.7
0
79
148
165
14.8
59
32.5
299
130
950
27.5
15.95
274
0
46
11.9
5.3
0
15.2
117
230
46.75
30.75
121
59.5
21
54
320
22
0
5.5
20.25
7.1
7.4
205
39.75
37
35
10.7
0
74
147
166
14.75
59
0
9.6
8.85
16.45
5.3
5.5
23
18.4
0
22.75
9
571
17.3
24.5
87.5
0
62.5
5.1
13.95
0
19.55
0
11.1
120
772
19.05
304
4.55
105
2
47
0
16.5
0
11.7
8.4
2.95
1500
244.85
15.78
86.76
57.41
18.07
0
9.55
8.9
16.25
5.3
5.5
22
17.7
0
22.5
8.95
570
17.2
24.75
82.5
0
62
4.6
13.7
0
19.45
0
11.1
120
772
19.55
305
4.55
105
2
49.25
0
16.6
0
9.45
8.9
16.35
5.3
5.5
23.5
18
0
21.5
8.85
591
17.05
24.75
76
0
62
5
13.55
0
20
0
11.1
120
743
19.15
304
4.3
105
2
45.75
0
16.45
0
9.55
8.95
16.45
5.3
5.5
23.5
18
0
22
8.55
598
17
24
74.5
0
62
5.5
13.75
0
20.25
0
11.1
120
744
19.15
300
4.35
105
2.05
43.5
0
16.3
0
9.5
8.85
16.4
5.3
5.5
23.5
18
0
21.5
8.65
585
17
24.5
73.5
0
62
5.25
13.75
0
20.25
0
11.1
120
730
19
301
4.35
105
2.05
45.5
0
16.2
11.05
7.9
2.9
1500
11.05
7.25
2.95
1500
11
7.25
3
1500
11.1
7.95
3.05
1500
246.39
15.68
87.83
57.61
17.98
246.42
15.68
87.60
57.59
18.03
247.00
15.69
87.35
57.72
18.13
246.99
15.80
85.63
56.30
18.08
246.99
15.80
85.63
56.30
18.08
246.99
15.80
85.63
56.30
18.08
83.37
26.94
230.54
54.78
203.49
72.08
119.82
82.98
26.04
230.66
54.78
229.26
72.72
124.74
85.68
25.22
223.31
54.65
228.73
72.60
123.52
86.57
25.14
223.56
54.68
228.51
72.54
123.69
84.89
24.96
220.03
54.68
228.85
70.96
122.68
84.89
24.96
220.03
54.68
246.99
70.96
126.31
84.89
24.96
220.03
54.68
246.99
70.96
126.31
57
58
59
60
61
62
63
25-May-15
26-May-15
27-May-15
28-May-15
29-May-15
30-May-15
31-May-15
32.5
299
130
950
27.5
15.5
274
0
46
11.9
5.5
0
15.25
117
232
47
30.75
121
60
20.75
54.5
307
22
0
5.55
20.25
7.1
7.1
201
39.5
36.25
34.75
10.7
0
74.5
147
165
14.75
59
32
273
130
950
27.5
15.35
274
0
41.5
11.9
5.1
0
15.35
103
226
47.25
30.5
117
56.5
21
51.5
302
22
0
5.6
20.25
7.05
6.95
195
39
33.25
33.5
10.75
0
73
147
161
14.85
59
0
9.4
8.9
16.3
5.3
5.5
23.25
18
0
21.75
8.6
574
16.7
24.75
74.5
0
62
5.3
13.55
0
20.25
0
11.1
120
730
19.05
300
4.2
105
2.05
45
0
16
0
9.15
8.6
16.15
5.3
5.5
23.5
17.8
0
22.25
8.3
574
16.95
24.75
80
0
60.5
5
13
0
21.25
0
11.1
120
772
18.2
300
4.45
105
2
44.25
0
15.85
11.1
8.25
3
1500
11.1
8.7
3.05
1500
246.93
15.85
84.80
55.79
18.06
246.93
15.85
84.80
55.79
18.06
246.93
15.85
84.80
55.79
18.06
246.93
15.85
84.80
55.79
18.06
243.12
14.63
81.86
54.55
17.96
243.12
14.63
81.86
54.55
17.96
243.12
14.63
81.86
54.55
17.96
83.48
25.09
220.04
54.60
228.78
70.29
122.40
83.48
25.09
220.04
54.60
246.93
70.29
126.03
83.48
25.09
220.04
54.60
246.93
70.29
126.03
83.48
25.09
220.04
54.60
246.93
70.29
126.03
83.54
25.68
230.33
54.73
228.26
68.21
124.51
83.54
25.68
230.33
54.73
243.12
68.21
127.48
83.54
25.68
230.33
54.73
243.12
68.21
127.48
64
65
66
67
68
69
70
71
1-Jun-15
2-Jun-15
3-Jun-15
4-Jun-15
5-Jun-15
6-Jun-15
7-Jun-15
8-Jun-15
30.25
280
130
950
27.5
15.25
270
0
41.5
11.9
5.15
0
15.3
103
230
47.25
29.75
116
59.5
20.25
51.5
284
21.5
0
5.3
20.25
7
7
195
38.75
36.5
33.25
10.6
0
73
147
163
15
59
30
297
130
950
27.5
15.95
270
0
41.5
11.9
5.15
0
15.3
102
227
47.25
29.75
117
59
20
51.5
279
21.75
0
5.6
20.25
7
7
194
39
36.25
33.75
10.55
0
73
147
164
14.85
59
32
300
130
950
27.5
16.3
274
0
41.5
11.9
4.8
0
15.4
112
225
47.75
29.25
118
57.5
21.5
51
289
21.75
0
5.6
20.25
7.05
7.05
195
37
33.25
34
10.8
0
74
147
160
14.85
59
30
297
130
950
27.5
15.95
270
0
41.5
11.9
5.2
0
15.35
108
226
47
29.75
116
58.5
20
51
279
21.5
0
5.85
20.25
6.9
7.15
193
37.25
36.5
33.75
10.55
0
70.5
146
164
14.65
57
243.12
14.63
81.86
54.55
17.96
0
9.15
8.5
16.05
5.3
5.5
23
17.8
0
22.25
8.1
531
17.2
24.75
75
0
60
5
13
0
21.25
0
11.1
120
785
17.7
304
4.65
105
2
45.5
0
16.5
0
9.1
8.35
16.3
5.3
5.5
22.75
17.5
0
22.25
8.1
544
17
24.75
80
0
61
5.25
13.05
0
21
0
11.1
120
720
17.85
316
4.35
100
2
45
0
16.45
0
9.05
8.4
16.85
5.3
5.5
22.5
17.5
0
22
8.05
554
17
24.5
80
0
61.5
5.1
13
0
21
0
11.1
120
720
17.8
315
4.05
100
1.95
44.75
0
16.35
0
9
8.3
17.25
5.3
5.5
23
17.5
0
22.25
7.85
553
17
24.5
74.5
0
61.5
5.1
13
0
20.5
0
11.1
127
707
17.7
313
4.1
100
1.95
43.75
0
16.1
11
8.7
2.95
1500
11
8.9
2.95
1500
10.7
8.1
2.95
1500
11.1
7.9
2.95
1500
247.11
14.55
81.53
54.52
17.93
247.11
14.55
81.53
54.52
17.93
243.29
14.64
80.67
54.81
17.96
245.78
14.64
79.99
54.76
18.03
245.78
14.64
79.99
54.76
18.03
245.78
14.64
79.99
54.76
18.03
245.78
14.65
80.22
54.16
17.70
83.54
25.68
230.33
54.73
243.12
68.21
127.48
78.11
24.89
233.45
54.83
228.97
68.02
124.05
78.11
24.89
233.45
54.83
247.11
68.02
127.68
79.64
25.76
217.24
52.18
228.45
67.74
120.65
80.82
25.80
217.23
52.03
228.58
67.37
120.89
80.82
25.80
217.23
52.03
245.78
67.37
124.33
80.82
25.80
217.23
52.03
245.78
67.37
124.33
80.76
24.94
215.70
52.05
228.45
67.19
120.38
72
73
74
75
76
77
78
9-Jun-15
10-Jun-15
11-Jun-15
12-Jun-15
13-Jun-15
14-Jun-15
15-Jun-15
30
300
130
950
27.5
15.8
270
0
41.5
11.9
5.35
0
15.3
110
225
47
29.25
115
58.5
21.25
50.5
279
21.5
0
5.5
20.25
6.5
7.15
193
39
33.25
34
10.55
0
67
147
164
14.55
57
33
300
130
950
27.5
15.2
270
0
41.5
11.9
5.4
0
15.35
107
225
46.75
29
115
58.5
21.5
51
285
21.75
0
5.5
20.25
6.3
7.25
191
39.75
36
36
10.65
0
70.5
149
163
14.95
57
33
300
130
950
27.5
15.55
265
0
41.5
12
5.5
0
15.35
109
223
46.5
28.5
116
58
20.5
53
298
21.75
0
5.6
20.25
6
7.3
191
40.5
36.25
34
10.4
0
71
150
164
15.2
57
33
300
130
950
27.5
14.85
345
0
40.75
12
5.15
0
15.35
107
223
46.75
29
115
57.5
20.75
51.5
295
21.5
0
6
20.25
6.4
7.4
188
40.5
33.5
35.5
9.75
0
71
150
164
15.4
57
0
9
8.3
16.95
5.3
5.5
23
17.8
0
22
7.8
560
17
23.25
73.5
0
62.5
5.1
12.9
0
21.5
0
11.1
127
703
17.9
315
4.25
100
1.95
47.5
0
16.05
0
9
8.25
17
5.3
5.5
23.25
17.5
0
21.75
7.7
560
17
24.25
79.5
0
63
5.25
12.9
0
21.5
0
11.1
127
701
18
315
4.15
100
1.9
45
0
16.05
0
9.1
8.2
17.1
5.3
5.5
23
17
0
22
7.65
540
17
24.25
79.5
0
63
5.25
12.95
0
20.75
0
11.1
120
702
17.9
317
4.2
100
1.9
45.75
0
16.05
0
9.15
8.2
17.15
5.3
5.5
21.5
16.7
0
22
8
540
17
24.25
74.5
0
63.5
5.3
12.95
0
21
0
11.1
125
701
17.9
317
4.25
100
1.9
46
0
16.1
11.1
8
2.95
1500
11.1
8
2.9
1500
11.1
7.95
2.95
1500
11
7.95
2.95
1500
246.19
14.69
80.21
53.75
17.63
246.53
14.70
80.50
54.65
17.70
246.53
14.70
80.50
54.65
17.70
245.86
14.75
81.65
54.65
17.77
257.19
14.48
81.08
54.21
17.82
257.19
14.48
81.08
54.21
17.82
257.19
14.48
81.08
54.21
17.82
81.64
25.07
214.75
52.13
228.97
66.98
120.51
81.59
26.02
214.28
52.08
228.70
67.57
120.53
81.59
26.02
214.28
52.08
246.53
67.57
124.10
79.02
25.92
212.75
52.10
228.71
68.15
119.70
78.84
25.32
213.75
52.13
230.15
67.64
120.04
78.84
25.32
213.75
52.13
257.19
67.64
125.45
78.84
25.32
213.75
52.13
257.19
67.64
125.45
79
80
81
82
83
84
85
16-Jun-15
17-Jun-15
18-Jun-15
19-Jun-15
20-Jun-15
21-Jun-15
22-Jun-15
33
300
130
1033
27.5
15.55
365
0
40
12
5.25
0
15.5
106
224
46
28.25
116
56.5
21
53
299
22
0
5.55
20.25
7
7.7
180
33
305
130
1135
27.5
15.8
394
0
44
12
5.1
0
15.55
104
225
45.75
27.5
116
56.5
21.5
51.5
300
21.5
0
5.55
20.25
6.95
7.5
175
33
307
130
1135
27.5
15.35
399
0
44
12.4
5.2
0
15.5
105
225
45.75
27.75
115
56
20.5
53.5
300
21.75
0
5.45
0
6.6
7.3
183
36
35.75
8.85
0
72
150
170
15.55
54
36
35.5
8.65
0
72.5
151
170
15.45
56
35
36.25
8.8
0
72
154
170
15.2
53.5
33
300
130
950
27.5
15
360
0
40.75
12
5.05
0
15.35
107
224
46.5
28.5
117
57
21
52.5
294
21.5
0
5.5
20.25
6.8
7.5
187
41
36.5
35.5
8.95
0
72
150
163
15.45
56
0
9
8.15
17.25
5.3
5.5
22.5
17
0
22
8
573
17
24
75
0
63
5
12.2
0
20.5
0
11.1
130
701
18.2
317
4.35
100
1.9
46.5
0
16.1
0
9.05
8.45
17.3
5.3
5.5
21.75
17
0
21
8
573
17.35
23
75
0
64.5
5.15
12
0
20.75
0
11.1
137
733
18.15
315
4.15
100
1.9
45.5
0
16.05
0
9.15
8.45
17.35
5.3
5.5
22.5
16.6
0
20.25
7.95
558
17.5
24.25
75.5
0
65.5
5
12
0
20.5
0
11.1
134
732
18.2
315
4.1
100
1.85
46
0
16.05
0
9.2
8.45
17.35
5.3
5.5
22
17
0
20.75
8
558
17.9
24.5
75
0
66
5.1
12.05
0
21
0
11.1
134
701
18.1
314
4.1
100
1.95
46.5
0
16.35
11
7.6
2.95
1500
11
7.9
2.85
1500
11.1
7.9
2.9
1500
11.05
7.9
2.85
1500
259.36
14.45
81.21
54.53
17.64
259.36
14.45
81.21
54.53
17.64
272.01
14.31
81.44
55.26
17.39
291.47
15.28
81.23
54.79
17.73
291.47
15.28
81.23
54.79
17.73
291.47
15.28
81.23
54.79
17.73
292.41
15.40
81.31
55.88
17.28
83.13
25.10
215.08
52.18
230.44
67.87
121.18
83.13
25.10
215.08
52.18
259.36
67.87
126.97
82.95
25.34
224.81
52.08
231.91
68.35
123.42
81.04
25.50
223.83
52.05
234.43
68.01
123.37
81.04
25.50
223.83
52.05
291.47
68.01
134.78
81.04
25.50
223.83
52.05
291.47
68.01
134.78
81.14
25.59
216.05
52.05
234.63
68.60
121.89
86
87
88
89
90
91
92
23-Jun-15
24-Jun-15
25-Jun-15
26-Jun-15
27-Jun-15
28-Jun-15
29-Jun-15
33
307
130
1248
27.5
15.2
399
0
40
12.4
5.2
0
15.55
107
225
45.75
27.75
115
56
21.25
54.5
301
21.75
0
5.3
20.25
6.85
7.5
178
33.5
307
130
1248
27.5
15.9
404
0
41
12.4
5.1
0
15.5
106
225
46
27.25
117
56
20.75
54
304
21.75
0
5.35
20.25
6.8
7.6
179
33.5
307
130
1248
27.5
16
415
0
44
12.4
5
0
15.5
108
225
46
27.5
117
55.5
20.75
54
305
21.75
0
5.35
20.25
6.7
7.45
179
37
36.75
9.1
0
72.5
153
172
15.4
53.5
35
35.75
9
0
72.5
153
182
15.85
53.5
35
36
8.95
0
72.5
151
110
16.75
56
0
9.2
8.4
17.6
5.3
5.5
22.25
17
0
20.75
8
561
17.95
24.75
75
0
65
5.05
12.65
0
20.25
0
11.1
134
700
18
310
4.15
100
2.1
46
0
16
0
9.05
8.35
18.05
5.3
5.5
21.75
17
0
20.5
7.95
564
17.6
25.5
75
0
65
5.1
12.8
0
20.75
0
11.1
134
700
17.95
309
4.05
100
2.3
46
0
16.05
0
9.05
8.4
18.15
5.3
5.5
21.25
17
0
20.75
7.95
567
18.05
27.75
75
0
65
5.1
12.5
0
21
0
11.1
139
700
17.7
308
4.05
100
2.45
45.5
0
16.1
11.05
7.95
2.9
1500
11
8.05
2.9
1500
11
8.8
2.9
1500
308.53
14.40
81.69
55.63
17.35
309.41
14.63
81.93
55.41
17.47
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
81.56
25.42
215.78
52.08
236.55
68.66
122.28
81.79
25.52
215.76
52.03
236.68
68.67
122.35
82.19
25.51
216.95
52.03
236.91
68.67
122.72
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
93
94
95
96
97
98
99
100
101
30-Jun-15
1-Jul-15
2-Jul-15
3-Jul-15
4-Jul-15
5-Jul-15
6-Jul-15
7-Jul-15
8-Jul-15
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
102
103
104
105
106
107
108
109
9-Jul-15
10-Jul-15
11-Jul-15
12-Jul-15
13-Jul-15
14-Jul-15
15-Jul-15
16-Jul-15
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
110
111
112
113
114
115
116
117
17-Jul-15
18-Jul-15
19-Jul-15
20-Jul-15
21-Jul-15
22-Jul-15
23-Jul-15
24-Jul-15
37.5
340
200
1090
27.5
16.55
390
0
47
12.8
5.05
0
15.05
100
205
44.75
22.75
111
55.5
17.45
48
302
21
0
5.15
20.25
6.5
7
187
37
360
190
1090
27.5
16
400
0
47
13
5.05
0
14.95
101
200
44.5
22
106
55.5
16.75
47.75
300
20.75
0
5
20.25
6.5
6.8
183
37
347
196
1090
27.5
15.75
400
0
44.75
13
5
0
14.25
100
199
42.5
21.75
106
55
17.8
47.5
298
20.75
0
5.05
20.25
6.6
6.85
187
35
347
190
1090
27.5
15.75
390
0
44.75
13
5.05
0
14.5
98.5
199
42
20.75
106
54.5
19.35
48
295
20.5
0
5.45
20.25
6.9
6.8
187
36
33
7.4
0
71.5
155
60
15.7
61
39.5
33.25
6.75
0
71
154
60
15.5
55
33.25
33.25
6.75
0
70
154
60
15.25
56
34
33
6.75
0
70.5
154
60
14.8
56
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
311.00
15.35
82.15
55.18
18.06
0
8.6
8.15
16.4
5.3
5.5
22
16.6
0
15.8
6.65
556
17.85
23
64
0
54
4.9
16.45
0
19.9
0
11.1
139
814
16.45
287
4
100
2.05
43.75
0
15.5
0
8.35
8.15
16.35
5.3
5.5
21.75
16.6
0
15.55
6.3
562
17.25
23
61
0
53
4.5
15.15
0
19.8
0
11.1
133
813
16.4
289
3.95
100
2.05
43.75
0
15.55
0
8.4
8.35
16.15
5.3
5.5
20.75
16.6
0
15.35
6.1
560
17.2
23
61
0
50.5
4.6
15.15
0
19.75
0
11.1
133
813
15.4
290
4.05
100
2
44.5
0
15.45
0
8.25
8.1
15.8
5.3
5.5
20.75
16.6
0
14.35
6.35
560
16.9
21
61.5
0
50
4.9
15
0
19.1
0
11.1
133
813
14.05
290
3.9
100
1.9
44.75
0
15.3
10.2
8
2.45
1500
9.95
8
2.45
1500
9.95
8
2.5
1500
9.95
8
2.65
1500
300.22
16.21
77.72
55.93
18.31
302.93
16.26
76.60
55.64
17.23
301.89
15.69
76.11
55.30
17.36
299.32
15.70
75.75
55.44
17.16
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
82.19
25.51
216.95
52.03
311.00
68.67
137.54
80.05
22.75
245.14
52.00
235.02
66.83
126.99
80.62
21.92
243.38
51.98
235.33
66.12
126.64
80.19
21.57
243.13
52.03
235.29
65.71
126.44
80.06
21.50
242.79
51.95
235.00
65.60
126.26
118
119
120
121
122
123
124
125
25-Jul-15
26-Jul-15
27-Jul-15
28-Jul-15
29-Jul-15
30-Jul-15
31-Jul-15
1-Aug-15
35
360
200
1090
27.5
16.2
392
0
44.75
13
4.85
0
14.3
95
200
41.5
21.75
106
54
19.05
47.75
286
20.5
0
5
20.25
6.95
6.75
185
35
325
200
1090
27.5
16.4
396
0
44.75
13
5.05
0
14.4
94.5
200
41
22.75
106
53.5
22
47.75
284
20.5
0
5
20.25
6.8
6.55
180
35
325
220
1090
27.5
16.8
399
0
44.75
13.1
4.85
0
14.15
95
202
40.75
24
106
51.5
20.5
47.75
283
20.5
0
4.95
20.25
6.8
6.5
185
36.5
33
6.95
0
70.5
153
60
15.15
54.5
39.75
35
6.85
0
70.5
153
61.5
15.2
54
39.25
35.75
6.8
0
70.5
152
63.5
15.6
54
299.32
15.70
75.75
55.44
17.16
299.32
15.70
75.75
55.44
17.16
0
8.25
8.1
15.85
5.3
5.5
20.5
17
0
14.95
6.5
560
16.45
21
60.5
0
50.5
4.7
15.15
0
19.15
0
11.1
133
743
15.1
297
4.05
100
1.9
45
0
15.45
0
8.55
8.05
16
5.3
5.5
21
16.95
0
16.05
6.6
560
16.55
22.5
63
0
52
4.6
14.9
0
19.6
0
11.1
133
740
15.9
296
3.7
100
1.95
45
0
15.45
0
8.6
8.05
16.1
5.3
5.5
20.75
16
0
17.6
7
560
16.4
21.75
69
0
53.5
5
14.95
0
19.45
0
11.1
133
798
16.35
289
3.8
100
1.9
45
0
15.2
10.1
7.95
2.55
1500
10.1
8
2.45
1500
9.5
7.95
2.5
1500
302.96
15.65
74.71
55.41
16.98
298.56
15.70
74.75
55.38
16.97
301.90
15.68
74.66
55.84
17.06
301.90
15.68
74.66
55.84
17.06
301.90
15.68
74.66
55.84
17.06
301.90
15.68
74.66
55.84
17.06
80.06
21.50
242.79
51.95
299.32
65.60
139.12
80.06
21.50
242.79
51.95
299.32
65.60
139.12
80.11
21.43
225.55
52.03
235.50
65.06
122.92
80.33
22.01
225.00
51.85
234.94
65.07
122.83
80.41
23.13
239.61
51.90
235.26
65.25
126.06
80.41
23.13
239.61
51.90
301.90
65.25
139.39
80.41
23.13
239.61
51.90
301.90
65.25
139.39
80.41
23.13
239.61
51.90
301.90
65.25
139.39
126
127
128
129
130
131
132
133
2-Aug-15
3-Aug-15
4-Aug-15
5-Aug-15
6-Aug-15
7-Aug-15
8-Aug-15
9-Aug-15
33
355
218
1090
27.5
16.05
395
0
44.75
13.1
4.5
0
14.1
94.5
205
37.75
22.25
110
49
19.2
48.75
264
20
0
4.95
20.25
5.45
7.05
189
32.5
321
218
1090
27.5
16
390
0
44.75
13.1
4.5
0
14.2
97
205
38.75
22
106
47
20
48.25
265
20.25
0
4.95
20.25
5.35
6.85
187
32.75
325
228
1090
27.5
16.1
395
0
42
12
4.6
0
14.35
97.5
204
43.25
22.75
106
49.25
20.5
49.5
275
19.8
0
4.6
20.25
5.25
6.85
178
39
32.25
6.7
0
62
154
60.5
15.6
54
39
32.5
6.7
0
62
152
62.5
15.55
54
38.75
33
6.5
0
61
154
65
15.5
59
301.90
15.68
74.66
55.84
17.06
0
8.45
8.2
15.8
5.3
5.5
20.75
17
0
17.25
7.45
566
16.15
23
71
0
51.5
4.9
15
0
20
0
11.1
133
741
17
295
3.8
100
1.9
41.25
0
14.15
0
8.3
8.35
15.8
5.3
5.5
20.75
17
0
17.2
7.6
560
16.35
21
67
0
50
4.85
15
0
20
0
11.1
133
741
17.3
295
3.75
100
1.9
45
0
14
0
8.25
8.55
16
5.3
5.5
20.75
17.4
0
18.2
7.65
557
16.55
21.25
67
0
53
4.85
15
0
20
0
11.1
130
736
17.45
304
3.9
100
2
40
0
14.55
9.5
7.95
2.5
1500
9.5
7.95
2.5
1500
9.5
7
2.45
1500
304.94
15.59
72.95
55.05
17.01
299.29
15.59
72.85
54.60
17.00
299.29
15.59
72.85
54.60
17.00
299.29
15.59
72.85
54.60
17.00
299.29
15.59
72.85
54.60
17.00
302.05
14.65
74.35
53.71
17.88
302.05
14.65
74.35
53.71
17.88
80.41
23.13
239.61
51.90
301.90
65.25
139.39
81.26
23.20
225.53
51.90
235.04
64.00
123.38
80.55
22.41
225.60
51.88
234.78
63.73
123.04
80.55
22.41
225.60
51.88
299.29
63.73
135.94
80.55
22.41
225.60
51.88
299.29
63.73
135.94
80.55
22.41
225.60
51.88
299.29
63.73
135.94
80.38
22.84
223.64
51.95
234.44
64.03
122.65
80.38
22.84
223.64
51.95
302.05
64.03
136.17
134
10-Aug-15
302.05
14.65
74.35
53.71
17.88
80.38
22.84
223.64
51.95
302.05
64.03
136.17
TOTAL NO OF
SHARES ISSUED
MRT CAP '000'
32,157,000
1,037,063,250
19,599,999
5,487,999,720
3,912,000
508,560,000
1,200,000
1,348,800,000
60,000,000
1,650,000,000
228,055,500
3,272,596,425
8,756,320
2,451,769,600
40,103,308
1,985,113,746
14,393,106
172,717,272
278,342,393
1,530,883,162
5,431,536,000
89,348,767,200
395,321,638
49,810,526,388
242,110,105
58,590,645,410
3,702,777,020
192,544,405,040
235,750,000
8,899,562,500
392,362,039
49,829,978,953
2,984,227,692
180,545,775,366
280,000,000
6,720,000,000
639,945,603
38,076,763,379
309,159,514
106,660,032,330
4,889,316,295
103,897,971,269
35,403,790
198,261,224
360,000
7,290,000
1,496,469,035
12,121,399,184
243,750,000
2,120,625,000
188,542,286
46,192,860,070
378,865,102
17,427,794,692
81,731,808
3,126,241,656
182,174,108
6,148,376,145
364,959,616
3,686,092,122
495,275,000
38,879,087,500
362,959,275
58,073,484,000
23,727,000
2,823,513,000
253,125,000
4,050,000,000
90,000,000
5,310,000,000
2,198,361,456
22,093,532,633
1,471,761,200
13,613,791,100
1,951,467,045
34,833,686,753
175,028,706
4,594,503,533
1,623,878,005
29,229,804,090
1,938,415,838
52,337,227,626
2,615,538,528
25,763,054,501
59,895,000
34,080,255,000
699,949,068
12,949,057,758
535,707,499
13,392,687,475
96,000,000
11,616,000,000
665,441,775
41,922,831,825
40,000,000
236,000,000
280,284,476
5,115,191,687
194,625,000
3,873,037,500
3,840,066
42,624,733
19,525,446
2,635,935,210
100,000,000
79,800,000,000
254,851,988
5,543,030,739
790,774,356
249,884,696,496
210,000,000
819,000,000
12,868,124
1,441,229,888
1,530,000,000
3,672,000,000
75,708,873
3,369,044,849
40,065,428,000
681,112,276,000
433,063,193
4,936,920,400
161,866,804
1,489,174,597
405,255,320
1,296,817,024
102,272
153,408,000
50525831.29
110946269.00
1282397608.73
421636247.78
1192942940.20
2250969856.43
1229571393.17
72343083805.30
20863995596.46
15980202097.21
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1185450857.50
255270250.20
94554375.00
111434062.00
5884564327.61
852016928.25
1506254774.46
26492317084.55
12552612202.40
22005397670.40
1130114944.00
99229801532.28
46603539700.88
32282048686.73
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Special topic: Text, date, finance and logical functions in Excel

Other formulas
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
A.Baumann & Co Ltd Ord 5.00 AIM

ARM Cement Ltd Ord 1.00
Atlas Development & Support Services Ltd
B.O.C Kenya Ltd Ord 5.00
Bamburi Cement Ltd Ord 5.00
Barclays Bank of Kenya Ltd Ord 0.50
British American Tobacco Kenya Ltd Ord 10.00
British-American Investments Co.(Kenya) Ltd Ord 0.10
Car & General (K) Ltd Ord 5.00
Carbacid Investments Ltd Ord 1.00
Centum Investment Co Ltd Ord 0.50
CFC Stanbic of Kenya Holdings Ltd ord.5.00
CIC Insurance Group Ltd ord.1.00
Crown Paints Kenya Ltd Ord 5.00
Diamond Trust Bank Kenya Ltd Ord 4.00
E.A.Cables Ltd Ord 0.50
E.A.Portland Cement Co. Ltd Ord 5.00
Eaagads Ltd Ord 1.25 AIM
East African Breweries Ltd Ord 2.00
Equity Group Holdings Ltd Ord 0.50
Eveready East Africa Ltd Ord.1.00
Express Kenya Ltd Ord 5.00 AIMS
Flame Tree Group Holdings Ltd Ord 0.825
Home Afrika Ltd Ord 1.00
Housing Finance Co.Kenya Ltd Ord 5.00
Hutchings Biemer Ltd Ord 5.00
I&M Holdings Ltd Ord 1.00
Jubilee Holdings Ltd Ord 5.00
Kakuzi Ltd Ord.5.00
Kapchorua Tea Co. Ltd Ord Ord 5.00 AIM
KenGen Co. Ltd Ord. 2.50
KenolKobil Ltd Ord 0.05
Kenya Airways Ltd Ord 5.00
Kenya Commercial Bank Ltd Ord 1.00
Kenya Orchards Ltd Ord 5.00 AIM
Kenya Power & Lighting Co Ltd Ord 2.50
Kenya Re Insurance Corporation Ltd Ord 2.50
Kurwitu Ventures Ltd Ord 100.00
Liberty Kenya Holdings Ltd Ord.1.00
Longhorn Publishers Ltd Ord 1.00 AIMS
43 Marshalls (E.A.) Ltd Ord 5.00

44 Mumias Sugar Co. Ltd Ord 2.00
45 Nairobi Securities Exchange Ltd Ord 4.00
46 Nation Media Group Ltd Ord. 2.50
47 National Bank of Kenya Ltd Ord 5.00
48 NIC Bank Ltd Ord 5.00
49 Olympia Capital Holdings ltd Ord 5.00
50 Pan Africa Insurance Holdings Ltd Ord 5.00
51 Rea Vipingo Plantations Ltd Ord 5.00
52 Safaricom Ltd Ord 0.05
53 Sameer Africa Ltd Ord 5.00
54 Sasini Ltd Ord 1.00
55 Scangroup Ltd Ord 1.00
56 Standard Chartered Bank Kenya Ltd Ord 5.00
57 Standard Group Ltd Ord 5.00
58 The Co-operative Bank of Kenya Ltd Ord 1.00
59 The Limuru Tea Co. Ltd Ord 20.00 AIMS
60 Total Kenya Ltd Ord 5.00
61 TPS Eastern Africa Ltd Ord 1.00
62 Trans-Century Ltd Ord 0.50 AIM
63 Uchumi Supermarket Ltd Ord 5.00
64 Unga Group Ltd Ord 5.00
65 Umeme Ltd Ord 0.50
66 Williamson Tea Kenya Ltd Ord 5.00 AIM
64

Manufacturing & Allied
Max
50.00
311.00
Min
41.25
203.18
350
300
250
200
150
100
50
0

1-Apr-15
2-Apr-15
44.5
265.00
43.75
206.02
Aver
45.17
253.03
Yield
1%
-11%
100,000
101,124
10
11
3-Apr-15
4-Apr-15
5-Apr-15
6-Apr-15
7-Apr-15
8-Apr-15
9-Apr-15
43.75
269.94
43.75
269.94
43.75
269.94
43.75
269.94
43.5
205.95
43
203.83
42.5
203.18
12
13
14
15
16
17
18
19
10-Apr-15
11-Apr-15
12-Apr-15
13-Apr-15
14-Apr-15
15-Apr-15
16-Apr-15
17-Apr-15
42.5
245.54
42.5
245.54
42.5
245.54
42.5
245.54
42.5
245.54
42.5
245.54
42.5
245.54
42.5
245.54
20
21
22
23
24
25
26
27
18-Apr-15
19-Apr-15
20-Apr-15
21-Apr-15
22-Apr-15
23-Apr-15
24-Apr-15
25-Apr-15
42.5
245.54
42.5
245.54
45.25
203.76
46.25
203.92
45
203.56
45.5
203.66
45.5
246.32
45.5
246.32
28
29
30
31
32
33
34
35
26-Apr-15
27-Apr-15
28-Apr-15
29-Apr-15
30-Apr-15
1-May-15
2-May-15
3-May-15
45.5
246.32
50
204.05
50
203.98
49
203.43
49
203.90
49
245.42
49
245.42
49
245.42
36
37
38
39
40
41
42
43
4-May-15
5-May-15
6-May-15
7-May-15
8-May-15
9-May-15
10-May-15
11-May-15
45.75
203.73
44.75
203.50
44
203.53
47.25
203.82
44
203.37
44
247.04
44
247.04
44
247.04
44
45
46
47
48
49
50
12-May-15
13-May-15
14-May-15
15-May-15
16-May-15
17-May-15
18-May-15
44
247.04
45
203.42
45.75
203.30
46
203.30
46
244.91
46
244.91
47
203.49
51
52
53
54
55
56
57
19-May-15
20-May-15
21-May-15
22-May-15
23-May-15
24-May-15
25-May-15
49.25
229.26
45.75
228.73
43.5
228.51
45.5
228.85
45.5
246.99
45.5
246.99
45
228.78
58
59
60
61
62
63
64
26-May-15
27-May-15
28-May-15
29-May-15
30-May-15
31-May-15
1-Jun-15
45
246.93
45
246.93
45
246.93
44.25
228.26
44.25
243.12
44.25
243.12
44.25
243.12
65
66
67
68
69
70
71
72
2-Jun-15
3-Jun-15
4-Jun-15
5-Jun-15
6-Jun-15
7-Jun-15
8-Jun-15
9-Jun-15
45.5
228.97
45.5
247.11
45
228.45
44.75
228.58
44.75
245.78
44.75
245.78
43.75
228.45
47.5
228.97
73
74
75
76
77
78
79
80
10-Jun-15
11-Jun-15
12-Jun-15
13-Jun-15
14-Jun-15
15-Jun-15
16-Jun-15
17-Jun-15
45
228.70
45
246.53
45.75
228.71
46
230.15
46
257.19
46
257.19
46.5
230.44
46.5
259.36
81
82
83
84
85
86
87
88
18-Jun-15
19-Jun-15
20-Jun-15
21-Jun-15
22-Jun-15
23-Jun-15
24-Jun-15
25-Jun-15
45.5
231.91
46
234.43
46
291.47
46
291.47
46.5
234.63
46
236.55
46
236.68
45.5
236.91
89
90
91
92
93
94
95
96
26-Jun-15
27-Jun-15
28-Jun-15
29-Jun-15
30-Jun-15
1-Jul-15
2-Jul-15
3-Jul-15
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
97
98
99
100
101
102
103
104
4-Jul-15
5-Jul-15
6-Jul-15
7-Jul-15
8-Jul-15
9-Jul-15
10-Jul-15
11-Jul-15
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
105
106
107
108
109
110
111
112
12-Jul-15
13-Jul-15
14-Jul-15
15-Jul-15
16-Jul-15
17-Jul-15
18-Jul-15
19-Jul-15
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
45.5
311.00
113
114
115
116
117
118
119
120
20-Jul-15
21-Jul-15
22-Jul-15
23-Jul-15
24-Jul-15
25-Jul-15
26-Jul-15
27-Jul-15
45.5
311.00
43.75
235.02
43.75
235.33
44.5
235.29
44.75
235.00
44.75
299.32
44.75
299.32
45
235.50
121
122
123
124
125
126
127
128
28-Jul-15
29-Jul-15
30-Jul-15
31-Jul-15
1-Aug-15
2-Aug-15
3-Aug-15
4-Aug-15
45
234.94
45
235.26
45
301.90
45
301.90
45
301.90
45
301.90
41.25
235.04
45
234.78
129
130
131
132
133
5-Aug-15
6-Aug-15
7-Aug-15
8-Aug-15
9-Aug-15
Err:502
Err:502
Err:502
Err:502
Err:502
Err:502
Err:502
Err:502
Err:502
Err:502

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Valuation of Equity

e which may differ from investor to investor

1 Value of stock = the PV of expected future dividends

2 Constant growth shares

Forecasted earnings per share

ENERGY & PETROLEUM

ENERGY & PETROLEUM

ENERGY & PETROLEUM

ENERGY & PETROLEUM

ENERGY & PETROLEUM

MRT CAP '000'

Special topic: Text, date, finance and logical functions in Excel

A.Baumann & Co Ltd Ord 5.00 AIM

43 Marshalls (E.A.) Ltd Ord 5.00

Unga Group Ltd Ord 5.00

Unga Group Ltd Ord 5.00

Unga Group Ltd Ord 5.00

Manufacturing & Allied

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