Reliance Industries : Progress in Buy Back

In the open market buy back by Reliance Industries, the budget of Rs. 10,440 crores allows a purchase of 12 crores shares @ 870 (maximum rate) & the last date is the 19th January 2013. In the past six months, the buy  back carried out may be summarised  in the following Table:

Month	High	Low	Tot_BB	Tot_Delivery	RATIO
February	851.25	794.49	545000	21140226	2.58
March	807.58	725.25	3657683	39371078	9.29
April	747.85	732.04	2989779	18061568	16.55
May	744.64	676.94	16432517	45919906	35.79
June	738.14	686.83	9523613	27759548	34.31
July	736.89	713.28	6449390	18467613	34.92

Total quantity bought back is 3,97,20,251 shares.

Price during the Buy Back (ATP)

Dogs of Nifty : An Investment Plan

Name	Rate	Qty	Investment	Div_Rate	Div_Amt	Yield_Rt
Hero Motocorp	2005.00	25	50125.00	45	1125.00	2.24
GAIL	353.85	141	49892.85	8.7	1226.70	2.46
Bank of Baroda	656.10	76	49863.60	17	1292.00	2.59
Coal India	359.35	139	49949.65	9.5	1320.50	2.64
ONGC	286.05	175	50058.75	7.75	1356.25	2.71
Bajaj Auto	1604.30	31	49733.30	45	1395.00	2.80
Tata Steel	414.45	121	50148.45	12	1452.00	2.90
BHEL	215.65	232	50030.80	6.3	1461.60	2.92
PNB	727.10	69	50169.90	22	1518.00	3.03
BPCL	363.30	138	50135.40	11	1518.00	3.03
			500107.70		13665.05

The strategy calls for investing in the 10 highest dividend yield stocks from the NIFTY  stocks.

Dividend Yield is a value measure  where you divide the latest annual dividends by the current

stock price. So a high dividend yield usually implies stocks whose prices have fallen and are

thus out of favour with investors. Thus was coined "Dogs of the Nifty"!

The strategy requires investing an equal amount in the top 10 dividend yield stocks and rebalancing

the portfolio every year weeding out those that fail the criteria and supplementing the rest with new

stocks that qualify.