(1)     Introduction of Derivatives:

• Definition – Types – Participants and Functions- Development of Exchange traded derivatives – Global derivatives markets – Exchange traded vs OTC derivatives markets – Derivatives trading in India – L. C. Gupta committee – J. C. Varma committee – Requirements for a successful derivatives markets.

(2)     Futures – Introduction:

• Futures: Introduction- Future terminology- Key features of futures contracts – Future vs. Forwards – Pay off for futures – Equity futures – Equity futures in India – Index futures – Stock futures – Future trading strategies – Hedging – Speculation – Arbitrage – Spread trading.

(3)     Futures – Options – Introduction and Pricing Options:

• Options: Introduction – Option terminology – Types – Options pay off – Equity options contracts in India – Index Options – Stock options – Options trading strategies – Hedging – Speculation – Arbitrage – Straddle – Strangles – Strips and Straps – Spread trading.
• The cost of carry models for stock and index futures – cash price and future price, arbitrage opportunity.
• Factors affecting options pricing – Option pricing models – Binominal pricing model – The black and Scholes model –Pricing of Index options.
• Sensitivity of option premia (Delta, Gamma, Lambda, Theta, Rho).

(4)     Trading Clearing and Settlement of Options and Futures:

• Futures and Options trading system – Trader workstations – contract specification – specification for stock and index eligibility for trading charges
• Clearing entities and their role – clearing mechanism –adjustment for corporate actions – open position calculation
• Margining and settlement mechanism – Risk management – SPAN – Mechanics of SPAN – Overall portfolio margin requirements.

(1)     Introduction to Organizational Behavior:

• Organisational Behaviour – Organisational Behaviour Multidiscipline – Different model of Organisational Behaviour – Individual Behaviour is studied through Perception – Personality – Values – Attitudes – Job satisfaction – Motivation – Learning.
• Understanding self studied through Perception and Personality.
• Understanding self studied through Values and Attitudes.

(2)     Understanding Others: Interpersonal relationships:

• Conflict Management – Nature of Conflict – Level of Conflict – Source of Conflict – Effects of Conflict – Process of Conflict – Stages of Conflict – Conflict Handling Orientations.
• Power and Organisational Politics – Sources of Power – Organisational Politics – Influence and Political Power.

(3)     Group Behaviour and Team Behaviour:

• Group Behaviour – Informal Groups – Group Dynamics – Types of Groups – Nature and Effects of Informal Groups – Benefits of Informal Groups – Formal Groups – Monitoring Informal Organisation – Identifying and Rewarding Informal Leader – Key Roles of Informal Leader – Are there Multiple Informal Leaders? Formal Groups – Potential Outcomes of Informal Group Processes.
• Team and Team Building – Modern organisation – Outcomes of Modern Organisation – Team work – Task team – Difference Between Groups and Teams – Life cycle of Team – Major Factors for Effective Teams – Team Building – Need for Team building – Team Building Process – Skills Useful in Team Building.

(4)     Stress Management and Change:

• Stress Management and Counselling – How it Comes About – How it Affects Various Elements of Job Performance – Extreme Product of Stress – Stress and Job Performance – Approaches to Stress Management – Characteristic of Counselling – Types of Counselling.
• Change and its Effects – Nature of Change – Effect of Change – Response to Change – Resistance to change – Reasons for Resistance to Change – Transformational Leadership and Change – What are Elements of Transformational Leadership –  Three stage model of changes Process.

(1)     Strategic Corporate Finance:

• Introduction to Strategic Corporate Finance: Strategy Vs. Planning, Significance of Strategy in Financial Decisions, Different Types of Financial Strategy for Shareholders, Wealth Maximization, Overall Corporate Value Addition and Economics Value Addition.
• Strategic Cost Management: Traditional Costing Vs. Strategic Costing, Relevant costs Vs Irrelevant costs, Different Types of Strategic costing and their relevance- Traditional Costing Vs Activity Based Costing, Target Costing, Life Cycle Costing, Quality Costing, Zero Based Budgeting, Strategic Cost Reduction Techniques and value chain analysis.

(2)     Fundraising:

• Fundraising: Identification of different sources of capital, determination of capital structure and factors affecting the capital structure, cost of capital and cost saving strategy, production of a business plan, and financial forecasts to enable potential funders to assess the proposition.
• Alternate Sources of Financing- Different Approaches to and moels of Infrastructure Projects Financing- Public Private Partnership (PPP) and its relevance,
• Dividend Vs Share Repurchase Policy, Problem of too much cash, Issue of Stock Liquidity and Illiquidity.

(3)     Company Valuation:

• Company Valuation: An Overview of Valuation, Valuation Principles and Practices more, the impact of “what if” scenarios, the key financial and commercial factors affecting the business, Value enhancement tools & techniques, the link between valuation and corporate finance.
• Management Buyouts: Establishing feasibility of the buy-out, Negotiating the main terms of the transaction with the vendor including price and structure, developing the business plan funders, negotiations with potential funders so that the most appropriate funding offers are selected.
• Management Buy-ins: Management Buy-in/Buy-outs, Vendor-initiated buy-outs/buy-ins.
• Due Diligence: Finance due diligence for both purchasers and financial institutions.

(4)     Credit Risk Management:

• Credit analysis, Default risk: Quantitative methodologies
• Expected and unexpected loss, Credit VaR, Counterparty risk
• Risk management choices, such as process control efforts, financial, physical, and operational hedging, value based management

(1)    Introduction and Concepts:

• Meaning of Corporate Restructuring.
• Need, Scope and Modes of Restructuring
• Historical Background.
• Emerging Trends.
• Planning, Formulation and Execution of Various Corporate Restructuring Strategies – Mergers, Acquisitions, Takeovers, Disinvestments and Strategic Alliances, Demerger and Hiving off.
• Expanding Role of Professionals.

(2)    Merger and  Amalgamation, Corporate Demerger and Reverse Merger:

• Introduction to Merger and Amalgamation, Corporate Demerger and Reverse Merger.
• Legal, Procedural, Economic, Accounting, Taxation and Financial Aspects of Mergers and Amalgamations including Stamp Duty and Allied Matters.
• Interest of Small Investors.
• Merger Aspects under Competition Law.
• Cross Border Acquisition and Merger.
• Concept of Demerger; Modes of Demerger – by Agreement, under Scheme of Arrangement.
• Demerger and Voluntary Winding Up.
• Legal and Procedural Aspects; Tax Aspects and Reliefs.
• Reverse Mergers – Procedural Aspects and Tax Implications.
• Meaning and Concept of Takeover.
• Types of Takeovers; Legal Aspects – SEBI Takeover Regulations.
• Disclosure and Open Offer Requirements.
• Bail Out Takeovers and Takeover of Sick Units.
• Takeover Defenses.
• Cross Border Takeovers.

(3)    Funding of Merger and Takeover and Financial Restructuring:

• Financial Alternatives; Merits and Demerits.
• Funding through various Types of Financial Instruments including Equity and Preference Shares, Debentures, Securities with Differential Rights, Swaps, Stock Options; ECBs, Funding through Financial Institutions and Banks.
• Rehabilitation Finance.
• Management Buyouts / Leveraged Buyouts.
• Reduction of Capital.
• Reorganization of Share Capital.
• Buy-Back of Shares – Concept and Necessity.
• Procedure for Buy-Back of Shares by Listed and Unlisted Companies.

(4)    Post-Merger Reorganization:

• Factors involved in Post-Merger Reorganization.
• Integration of Businesses and Operations.
• Assessing Accomplishment of Post-Merger Objectives; Measuring Post Merger Efficiency.

Author: A. V. Wandrekar

               A. A. Wandrekar

SEVENTH REVISED EDITION 2025

Author: S. P. Das

FOURTH EDITION 2023