Financial Instruments

Financial Instruments

Corporations need capital to finance business operations. Financial instruments are assets that can be traded. They can also be seen as packages of capital that may be traded.

Financial instruments can be classified into:

•Equity
•Debt (or Fixed Income)
•Hybrids
•Derivatives
Financial Instruments TechSarthi.com

Equity:- A company’s equity typically refers to the ownership of a public company. For example, investors might own shares of stock in a publicly traded company.

There are two types of equity:
•Common stock
•Preferred stock

Bonds, Debt (Fixed Income) :- The bond is a debt security, under which the issuer owes the holders a debt and (depending on the terms of the bond) is obliged to pay them interest (the coupon) or to repay the principal at a later date, termed the maturity date.

Hybrids:- A hybrid security is a single financial security that combines two or more different financial instruments. Hybrid securities, often referred to as “hybrids,” generally combine both debt and equity characteristics.

Different Type of Equity Issues

Different Type of Equity Issue

In this article we will see the different type of Equity Issues and their details. Below are the most common  type of issues.

1. New Issue (IPO)
2. Right Issue
3. Bonus Issue
4. Private Placement
Different Type of Equity Issue1.New Issue(IPO):

IPO is the way a firm goes public and sells shares to raise capital. To understand the IPO better I will introduce another term Authorized Share Capital.

Authorized Share Capital: – It is the maximum amount of capital which can be issued by a company.The authorized capital can be increased by the company at any time with shareholders’ approval and by paying additional fee to the Registrar of Companies. For more details  click here  to access an external.

Before listing, a Company needs to satisfy the prerequisite defined by the respective Primary Market. For more details you can refer NSE website.

A company can only liquidate its share up to Authorized Share Capital and if it want to liquidate further needs to increase its Authorize Share Capital with the help of Registrar of Company.

2. Right Issue:

Right issue is subsequent issue of shares by company to its existing shareholders in the proportion of their holdings. Right issues is allowed only if Company is having sufficient Authorized Share Capital.

Right issues are generally offered at a price below the current market price. Right holders have option either to exercise the right or sell the right to another person. In the right issue company save the charges of broker and underwriter.

3. Private Placement:

Private placement is a capital raising event that involves the sale of securities to a relatively small number of select investors. Investors involved in private placements can include large banks, mutual funds, insurance companies and pension funds. A private placement is different from a public issue in which securities are made available for sale on the open market to any type of investor.

4.Bonus Issue:

Bonus shares are shares distributed by a company to its current shareholders free of charge. Bonus helps company to retain the cash and provide the benefits to the shareholders.

Financial market- Investment Banking Series 1/10

Financial Market, Capital market

                                                            Financial market

I am planing to cover the concepts of Investment banking in a series of ten posts. This first post will cover the

introduction of Financial Market, Money Market, Capital Market, Primary and Secondary Market

A financial market brings buyer and seller together to trade in financial assets/instruments such as Stocks, Bonds, Commodity, Derivative and Currencies.

The purpose of a financial market is to provide platform for Global trading, raise Capital, maintain Liquidity and to Transfer risk between counter-parties .Financial Market, Capital marketTwo most important category of financial market are :

  1. Money Market
  2. Capital Market

  Money Market

Money market use to trade on short term basis, usually for the assets maturity upto one year.

Capital Market

Capital Markets are used for long term assets with maturity more than one year. Capital markets includes Equity and Bond Market.

Money Market

Money Market – Liquidity is main purpose for using Money Market. Short term Debt is used for the purpose of covering Operating Expenses or Working Capital for a company or government.

We don’t consider money market for the purpose of Capital Improvement or large projects.

The Money Market is very important for the Corporate and Government as it plays an important role in maintaining the appropriate level of liquidity on daily basis without failing short, without holding excess funds and missing the opportunity of gaining intent on funds. Investors use the money markets to invest the fund in safe manner. This is because the participants of Money Market are big players with high credit worthiness.

For Example:

If ICICI bank needs money for a week they can take a short term loan from other bank like HDFC, SBI or any other bank. The money can be borrowed   for 1 day to 1 year. As two stable banks are the counterparties probabilities of default is very less.

Capital Market :

Capital markets are used for long term assets having maturity more than a year which includes equity and Bond market.

On the basis of nature of trade it can categorized in two types :

  1. Primary
  2. Secondary

Primary Market

  1.  Where new equity Stocks or bond issued for the first time are sold to the investors.
  2.  Trade happens between Issuer(Company) and the Investors. For example if DMART is offering IPO Trade will happen between Dmart and the retail Investors.
  3. Trade in Primary Market directly impacts the Capital of the company.

Secondary Market

  1. Secondary Market is a place where primary market instruments, once issued, are bought and sold.
  2. Trade happens between two counter-parties which does not include the Issuer unless its a buyback.
  3. Share price in secondary market have no direct impact on company Capital.

 

 

 

        

 

UNIX – ls command Tutorials, Interview questions and Explanations

In this post I will try explain all the “ls” command related concepts frequently asked in interview for support and testing. I have used unix server to give the example for all the concepts for better understanding, still you have any query feel free to ask in comment section.

1. ls -l : Display all the information about files/Directories, in below example we are displaying the information from UnixTutorials folder.

2. ls -a : Display all the files including hidden files.

unix-ls-Comman-ls -a, ls -a : Display all the files including hidden files.

” .node_repl_history” is the hidden file in current directory. ls -A can also be used to list hidden files, the difference has been highlighted below:

ls -a : Display all the files including hidden files

3.ls -1 : Display one file per line. You can see the result without -1 and with, in below screenshot.

unix-ls-Comman-ls -1 interview question

4. ls -lh : Display file size in human readable format. It will show the file size in K, KB, MB etc. You can see the difference in below example total is 148K in case when we are using ls -lh and its value is 148 in case ls -l.

unix-ls-Comman-ls -lh

5. .ls -ld : Display Directory information.

unix-ls-Comman-ls -lh

6. ls -lt : Order file based on last modified time.
unix-ls-Comman-ls -lt

7. ls -lrt : Order file based on last modified time in reverse order. For reference we can compare result of ls -lt(example 6) and ls -lrt.

TechSarthi- unix-ls-Comman-ls -lrt

8. ls -R : Display files Recursively or we can say all the folders, subfolders and files will be displayed. In below example folder a1 and b2 is having sub folder Tests1 and Test2 respectively.

TechSarthi

9. ls -n : Display file VID and GID in numeric format. You can see the difference between ls -n and ls -l in below example.

TeshSarthi ls -n : Display file VID and GID in numeric format

10. ls -F : Add special character for the classification.
/ – for directory
… – nothing for normal file
@ – link file
* – executable file

TechSarthi unix-ls-Comman-ls -F

11. ls – -color=auto: Classification of file using different color. In below example I only two types of file hence showing blue for folder and white for normal files.

TechSarthi unix-ls-Comman-. ls --color=auto

12. ls -lS: Sort file by size, For more clarity we can try ls -lSh(h is for displaying size human readable format)

tECHsARTHI unix-ls-Comman-. ls -lS

13. ls -lu Sort file by access time.

TechSarthi unix-ls-Comman-ls -lu

14. ls -t | head 1 : Display last file edited.

TechSarthi unix-ls-Comman- ls -t head 1

How to use pivot table to create Summary

In this article we will learn how to add pivot table in excel sheet and how to use it to create a summary of data.

Step1: We will pick a excel file with some sample data, click here to download

Step2: Select any active cell from data set and go to insert tab :

Step3: Click on Pivot table option as shown below

Step4: Select range for pivot table as shown below-

Step5 Select new worksheet for PivotTable report

Step6: Now select he field as per requirement, for example here I want to see the number of topics completed by Suman.
P1- Name I have added in in Rows section and P1- status into summation section.

Basic summary table is ready now, we will cover more in next article about Pivot table.

How to execute selenium test cases using bat file.

Selenium using bat file

how to Run selenium test cases using bat file.

Step 1: Create a simple Java project and add TestNG class.
Step 2: Write some simple selenium code.

Step 3: Now select option convert to TestNg as shown in below screenshot.

Step 4: Click on finish

Step 5: It will create a testng.xml file as shown below:

Step 6: We are done with project setup steps, Lets create a bat now:
……………………………………………………………………………………………………………………………………..
set projectLocation=G:\JavaPractice\Cmd_Testng
cd %projectLocation%
set classpath=%projectLocation%\bin;%projectLocation%\lib\*
java org.testng.TestNG %projectLocation%\testng.xml
pause
…………………………………………………………………………………………………………………………………….

Step 7 : Double click on bat file to execute the test cases

SELENIUM FRAMEWORK FOR BEGINNERS

Selenium Webdriver Framework01

In this framework we will try to cover all the basic component of a selenium as listed below:

1. TestNg demonstration
2.POM- Page Object Model
3.Code separation
4.Cross Browser Testing
5.External Data Source

Step 1 Create a Java project and Name it as “seleniumBasicFramework”

2. Create three package as shown below:

objectRepository- It will contain all the static data(object identifier and Application url )
operations– It will contain all frequently used functions used in our testing like- screenshots, external data reading etc.
searchFlight– It will contain the set of code responsible for testing with the help previously defined packages.

Step3 : We will create some folders to save results and to keep our external data source:
a) To add a folder , select project and right click , choose new option and a folder as shown below:

b) We will add three folders as shown below:

Step 4 : Now we will add all the required Jar files(Seelenium webDriver, Apache POI, TestNg Library)
a) TestNg library: Select project->right click-> Java build path->library->add library-> TestNg.
Follow below screenshots:-

b)Selenium WebDriver:- Add selenium WebDriver jar, to download click here and for more detail about it click here

c)Apache POI :- Add POI jar to the project as shown below, for more detail about it click here.

Step 5) Now we will place external drivers and Data source in folders we have mentioned earlier:
ExternalDataSource->excel file having test data.(named as TestData.xlsx)
ExternalDrivers- required external driver for the cross browser testing(chrome driver)

We are done with all basic setup required, let’s create TestNG Class to perform functional testing in package searchFlight:

Step 6 : Select package “searchFlight” ->right click-> new->others->TestNg Class->Next->Finish
a)

b)

c)Provide the name of the class as SearchFlight and click on finish.

d)

Step 7) Add a class in operations name it as “Operations.java”

Step 8) Add methods to Operations class to perform basic functions:

Code Operations.java
package operations;
import java.io.File;
import java.io.FileInputStream;
import org.apache.commons.io.FileUtils;
import org.apache.poi.ss.usermodel.Workbook;
import org.apache.poi.xssf.usermodel.XSSFSheet;
import org.apache.poi.xssf.usermodel.XSSFWorkbook;
import org.openqa.selenium.OutputType;
import org.openqa.selenium.WebDriver;
import org.openqa.selenium.TakesScreenshot;

public class Operations {
public static void takesScreenshots(WebDriver driver, String name){
try{
TakesScreenshot ts=(TakesScreenshot)driver;
File source=ts.getScreenshotAs(OutputType.FILE);
FileUtils.copyFile(source,new File(“./screenshots/”+name+”.png”));
}
catch(Exception e){
System.out.println(“Error while taking Screenshots ->”+e.getMessage());
}}
public static String readExternalData(int i, int j){
String s=null;
try{
File fs = new File(“./ExternalDataSource/TestData.xlsx”);
FileInputStream fis= new FileInputStream(fs);

Workbook workbook= new XSSFWorkbook(fis);
XSSFSheet sheet= (XSSFSheet) workbook.getSheetAt(0);
s=sheet.getRow(i).getCell(j).getStringCellValue();
}
catch(Exception e){
System.out.println(“Error while Reading external data ->”+e.getMessage());
}
return s;
}}

9) Add object identifiers to Util class.

Util.java
package objectRepository;

public class Util {

/////URL
public static final String baseUrl=”https://www.cleartrip.com/”;

// page options:
//public static final String oneay_id=”OneWay”;

public static final String from_xp=”//*[@id=’FromTag’]”;
public static final String to_xp=”//*[@id=’ToTag’]”;
public static final String selectedDate_xp=”//*[@id=’ui-datepicker-div’]/div[1]/table/tbody/tr[4]/td[7]/a”;
public static final String searchbtn_id=”SearchBtn”;
}

10) Add code in SearchFlight.java

SearchFlight.java
package searchFlight;

import java.util.concurrent.TimeUnit;

import objectRepository.Util;
import operations.Operations;

import org.openqa.selenium.By;
import org.openqa.selenium.WebDriver;
import org.openqa.selenium.chrome.ChromeDriver;
import org.openqa.selenium.firefox.FirefoxDriver;
import org.openqa.selenium.remote.CapabilityType;
import org.openqa.selenium.remote.DesiredCapabilities;
import org.testng.annotations.BeforeTest;
import org.testng.annotations.Parameters;
import org.testng.annotations.Test;

public class SearchFlight {

WebDriver driver;// global variable- webdriver reference
@BeforeTest
@Parameters(“browser”)
public void selectBrowser(String browserName){
try{
if(browserName.equalsIgnoreCase(“firefox”)){//takes screenshots with the name passed while function call
DesiredCapabilities dc =new DesiredCapabilities();
dc.setCapability(CapabilityType.ACCEPT_SSL_CERTS, true);
driver= new FirefoxDriver(dc);
driver.manage().timeouts().implicitlyWait(10, TimeUnit.MILLISECONDS);
System.out.println(“Opening firefox with desired capabilities”);
driver.get(Util.baseUrl);
}
else{
System.setProperty(“webdriver.chrome.driver”,”./ExternalDrivers/chromedriver.exe”);
DesiredCapabilities dc= new DesiredCapabilities();
dc.setCapability(CapabilityType.ACCEPT_SSL_CERTS, true);
driver =new ChromeDriver(dc);
driver.manage().timeouts().implicitlyWait(10, TimeUnit.MILLISECONDS);
driver.get(Util.baseUrl);
}}
catch(Exception e){
System.out.println(“unable to launch browser”+e.getMessage());
}}
@Test
public void flightSearch() {// reads data from excel sheet from the specified cell
String from= Operations.readExternalData(1, 0);
String to= Operations.readExternalData(1, 1);
driver.findElement(By.xpath(Util.from_xp)).sendKeys(from);
System.out.println(Operations.readExternalData(1, 0)+” is selected as a source”);
driver.findElement(By.xpath(Util.to_xp)).sendKeys(to);
System.out.println(Operations.readExternalData(1, 1)+” is selected as destination”);
Operations.takesScreenshots(driver,”Selected cities”);
driver.findElement(By.xpath(Util.selectedDate_xp)).click();
driver.findElement(By.id(Util.searchbtn_id)).submit();
}}

Step 11)Create XML file to run the test suite.

As shown screenshot:

Step 12) Once xml is created replace the content with below code:

Steps 13)

Run the test suite by using xml file as shown in below screenshot:

To download complete file click here

Installing Maven in local system

Installing Maven in local system.

In this article we will install Maven, will create dependency and run a simple Selenium test case using  TestNG.

  1. Click here to download Maven jar files from Apache official website.Installing Maven in local system.

2.Unzip the downloaded file and place it in separate folder.

 

Installing Maven in local system.

 

3.Folder Structure

Installing Maven in local system.

 

4. Set Environment variable & path variable.

5.Check Maven version using cmd:- mvn -v

Installing Maven in local system.

6. Now lets create a simple project in eclipse as shown below:

7. Project will be created with folder structure as shown below:

8. Replace Pom.xml content with below provided details:

<project xmlns=”http://maven.apache.org/POM/4.0.0″ xmlns:xsi=”http://www.w3.org/2001/XMLSchema-instance” xsi:schemaLocation=”http://maven.apache.org/POM/4.0.0 http://maven.apache.org/xsd/maven-4.0.0.xsd”>
<modelVersion>4.0.0</modelVersion>
<groupId>automation.maven</groupId>
<artifactId>automation.maven.selenium</artifactId>
<version>0.0.1-SNAPSHOT</version>
<name>mavenFisrtP</name>

<packaging>jar</packaging>

<properties>
<suiteXmlFile>src/main/resources/testng.xml</suiteXmlFile>

</properties>

<dependencies>

<dependency>
<groupId>org.testng</groupId>
<artifactId>testng</artifactId>
<version>6.1.1</version>
</dependency>
<!– Adding Selenium dependency –>
<dependency>
<groupId>org.seleniumhq.selenium</groupId>
<artifactId>selenium-java</artifactId>
<version>2.47.1</version>
</dependency>

</dependencies>

<build>

<plugins>

<plugin>

<groupId>org.apache.maven.plugins</groupId>
<artifactId>maven-compiler-plugin</artifactId>
<version>3.0</version>
<configuration>
<compilerVersion>1.8</compilerVersion>
<source>1.6</source>
<target>1.6</target>
</configuration>
</plugin>

<plugin>
<groupId>org.apache.maven.plugins</groupId>
<artifactId>maven-surefire-plugin</artifactId>
<version>2.17</version>
<configuration>

<suiteXmlFiles>
<suiteXmlFile>${suiteXmlFile}</suiteXmlFile>
</suiteXmlFiles>

</configuration>
</plugin>

</plugins>

</build>

</project>

9. Create a simple Selenium test case to open a link in firefox:

Sample code:

 

10. Use mvn clean command to clear all the previous setting.

Installing Maven in local system.

11. Use mvn install command to install missing files as shown in below screenshot:

Installing Maven in local system.

12. Use mvn test command to run the test cases created under maven project:

Installing the M2Eclipse Plugin.

We will complete this in two part – In 1st part we will discuss how to add Maven plug-in

  1. Installing the M2Eclipse Plugin.
  2. Installing Maven in local system.

In this article we will see the 1st part only

Below steps to follow to install Maven on Eclipse IDE :

  1. Open your Eclipse IDE and click Help-> Install New Software…
  2. On the opened pop-up, click on the Addbutton to add a new repository
  3. Fill the form with the information below and press Ok
    Name : M2Eclipse
    Location :http://download.eclipse.org/technology/m2e/releases
Maven Eclipse plugin
Maven Eclipse plugin

4.After the Pending finish, select all the Plugins and press Next >

Maven Eclipse plugin
Maven Eclipse plugin

5.Accept the terms of the license agreement and click Finish

6. At the end of the installation, you will be asked to restart your Eclipse. Click Yes to perform the restart.

Apache Maven is now integrated to your IDE.

 

Checking if Maven has been successfully installed

To check if whether or not Maven has been successfully installed on Eclipse follow these steps:

  1.  Open your Eclipse IDE and click Help -> About Eclipse
  2. Check the presence of the M2Ecplise icon as below
Maven Eclipse plugin
Maven Eclipse plugin