A PROJECT REPORTON

INDUSTRY VISITS

BY

ROHIT KUMAR KHANDELWAL(BBA) (2007 – 2008)

IN PARTIAL FULFILLMENT OFBachelor of Business Administration

UNIVERSITY OF PUNE

MITSOM CollegePUNE: 411038

(i)

CERTIFICATE

This is to certify that Mr. ROHIT KUMAR KHANDELWAL of MAEER’s MITSOM College

has successfully completed the project work in partial fulfillment of requirement for the

award of Bachelor of Business Administration prescribed by the University of Pune

This project is the record of authentic work carried out during the academic year

2007 – 2008.

Mr. S.D. Gaikwad Brig. (Dr.) R.K.Bhatia

Class-in-charge Principal

(ii)

DECLARATION

I, Mr. ROHIT KUMAR KHANDELWAL hereby declare that this project is the record of

authentic work carried out by me during the academic year 2007 – 2008 and has not

been submitted to any other University or Institute towards the award of any degree.

ROHIT KUMAR KHANDELWAL

(iii)

Sr. No. Name of the Company/Organization Date of the visit1 Kat r a j Da i ry - 02 -20082 Vishay Componen t s - 03 -20083 Semina r on S tock Marke t - 20084 Semina r on En t r ep reneu r sh ip - 2008

Profile of the organization

KATRAJ DAIRY

K a t r a j w a s i n c o r p o r a t e d i n 1 9 6 0 w i t h a n i n t e n s i o n o f p r o v i d i n g a n o r g a n i z e d f a c i l i t y o f m i l k c o l l e c t i o n f o r t h e v i l l a g e l e v e l f a r m e r s s i t u a t e d i n P u n e d i s t r i c t . K a t r a j D a i r y s t a r t e d w i t h m i l k c o l l e c t i o n o f a b o u t 0 . 3 0 l a k h ( 3 0 . 0 0 0 ) l i t r e s i n t h e f i r s t y e a r o f o p e r a t i o n a n d t o d a y , h a s s t e a d i l y g r o w n t o o v e r 3 . 2 5 l a k h ( 0 . 3 2 m i l l i o n ) l i t r e s p e r d a y a n d h a s a f i n a n c i a l t u r n o v e r o f o v e r R s . 1 5 0 c r o r e s ( R s . 1 5 0 0 m i l l i o n / U S $ 3 3 m i l l i o n ) .

K a t r a j w i t h i t s s i x p l a n t s s p r e a d a l m o s t a l l o v e r t h e d i s t r i c t h a s a n i n s t a l l e d m i l k h a n d l i n g c a p a c i t y o f o v e r 5 l a k h ( 0 . 5 0 m i l l i o n ) l i t e r s p e r d a y . T h e m a i n p l a n t o f K a t r a j i s e q u i p p e d w i t h P a s t e u r i z e r , h o m o g e n i z e r , C r e a m s e p a r a t o r , G h e e p r o c e s s i n g , a u t o m a t i c p a c k i n g o f p r o d u c t s a n d o t h e r q u a l i t y t e s t i n g d e v i c e s a n d w e l l e q u i p p e d l a b s . K a t r a j h a s a n i n s t a l l e d p r o c e s s i n g c a p a c i t y o f 2 l a k h ( 0 . 2 m i l l i o n ) l i t e r s p e r d a y .

K a t r a j m a n u f a c t u r e s / D i s t r i b u t e s p r o d u c t s l i k e P a s t e u r i z e d / H o m o g e n i z e d - C o w / S t a n d a r d i z e d M i l k , T o n e d M i l k , C r e a m , G h e e , S h r i k h a n d , A m r a k h a n d , M a l a i P a n e e r , M a t k a D a h i , F l a v o r e d M i l k , L a s s i , J e e r a T a k , T a b l e B u t t e r , M i l k P o w d e r , S o f t y I c e c r e a m a n d i n t h e n e a r f u t u r e p l a n s t o i n t r o d u c e s t e r i l i z e d p r o d u c t s l i k e b o t t l e d f l a v o r e d m i l k . A l l t h e s e p r o d u c t s a r e a v a i l a b l e a t K a t r a j o w n e d p a r l o r s a t v a r i o u s l o c a t i o n s i n P u n e C i t y a n d t h r o u g h a p p o i n t e d d i s t r i b u t i o n a n d r e t a i l i n g c i r c u i t s . V e r y s o o n , K a t r a j p l a n s t o i n t r o d u c e a n o n l i n e o r d e r i n g s y s t e m f o r i t s d i s t r i b u t o r s / r e t a i l e r s a n d c o n s u m e r s .

K a t r a j p r o d u c t s h a v e b e e n i n u s e i n t h o u s a n d s o f h o m e s i n P u n e s i n c e 1 9 6 1 . K a t r a j M i l k , K a t r a j G h e e , K a t r a j S h r i k h a n d , K a t r a j S o f t y I c e c r e a m a n d K a t r a j M i l k P o w d e r h a v e m a d e K a t r a j a l e a d i n g f o o d b r a n d i n W e s t e r n M a h a r a s h t r a . T o d a y K a t r a j i s a s y m b o l o f h i g h - q u a l i t y m i l k p r o d u c t s s o l d a t r e a s o n a b l e p r i c e s , t h e g e n e s i s o f a v a s t c o - o p e r a t i v e n e t w o r k t r i u m p h o f i n d i g e n o u s t e c h n o l o g y , t h e m a r k e t i n g s a v v y o f a f a r m e r s ' o r g a n i z a t i o n .

P u n e Z i l h a S a h a k a r i D u d h U t p a d a k S a n g h M a r y a d i t , p o p u l a r l y k n o w n a s ' K a t r a j D a i r y ' i n t h e l o c a l a n d b r a n d e d a s " K a t r a j " , a d i s t r i c t l e v e l c o - o p e r a t i v e o r g a n i z a t i o n r e g i s t e r e d i n 1 9 6 0 , i n v o l v e d i n p r o c e s s i n g m i l k a n d m i l k p r o d u c t s . T h e r e p r e s e n t a t i v e s o f m i l k p r o d u c i n g f a r m e r s b a s e d i n r u r a l s , e n c o m p a s s i n g a l m o s t t h e e n t i r e P u n e D i s t r i c t , m a n a g e t h i s o r g a n i z a t i o n o n b e h a l f o f t h e m i l k p r o d u c e r s f o r t h e i r ( r u r a l

I n d i a ) s o c i o - e c o n o m i c g r o w t h . T h e o b j e c t i v e o f K a t r a j i s t o b u i l d a v a l u e c h a i n o f f a r m e r s t o s o u r c e m i l k a t a n o r g a n i z e d l e v e l , m a n u f a c t u r e p r o d u c t s w i t h h i g h s t a n d a r d s a n d s a l e t h e s e p r o d u c t s i n t h e c o m p e t i t i v e o p e n m a r k e t p l a c e .

PRODUCTS

CREAM

When mi lk f a t i s concen t r a t ed i n to a f r a c t i on o f t he o r i g ina l m i lk , t ha t po r t i on i s known a s c r eam. Cream i s a r i ch po r t i on o f m i lk f a t . C ream i s t he p roduc t o f cow o r bu f f a lo m i lk o r a combina t i on t he r eo f wh ich con t a in s no t l e s s t han 25 % mi lk f a t .

The va r i ous t ypes o f c r eam a r e :Tab l e C ream

} con t ain ing 20 - 25 % milk f a t

Light C ream

Cof fee Cream      

Whipp ing Cream

} con t a in ing 30 - 40 % mi lk f a t

Heavy Cream     

P la s ti c C ream

  con t ain ing 65 - 85 % milk f a t

Pack ing S i ze s1000 gms po ly bag

FLAVOURED MILK

Flavou red mi lk i s p r epa red by add ing app rop r i a t e f l avou r s . Va r ious f l avou r s a r e added and d i f f e r en t f l avou red Mi lk a r e p roduced . Fo r example ‘P i s t a m i lk ’ wh ich i s p r epa red by add ing f l avou r o f P i s t a .

GHEE

Ghee i s t he pu re c l a r i f i ed f a t de r i ved so l e ly f rom mi lk o r f rom des i ( cook ing ) bu t t e r o r f rom c r eam to wh ich no co lou r ing ma t t e r i s added .

Ghee i s t he c l a r i f i ed bu t t e r f a t p r epa red ch i e f l y f rom cow o r bu f f a lo m i lk .

Ghee i s u sed a s a cook ing o r f ry ing med ium, i n con fec t i ona ry , f o r d i r e c t consumpt ion w i th r i c e chappa t i s e t c . Cow ghee i s ma in ly u sed i n i ndegeneous pha rmaceu t i c a l p r epa ra t i ons (Ayurveda ) .

P a c k i n g S i z e s

5 0 0 g ms p o ly p a ck

1 5 K g t i n

JEERA TAK

Tak i s a l so ca l l ed chhas o r ma t t ha r e f e r s t o de s i bu t t e rmi lk .

P a c k i n g S i z e s

2 0 0 m l p o l

y b a g

LASSI

La s s i i s a f e rmen t ed Mi lk beve rage popu l a r i n a l l pa r t s o f I nd i a . The t e chno logy o f l a s s i mak ing i s howeve r con f ined t o on ly househo lds . Las s i ha s a g r ea t po t en t i a l i n t he Ind i an Marke t .

P a c k i n g S i z e s

2 0 0 m l p o l y p a c k

MALAI PANEER

Panee r r e f e r s t o t he mi lk so l i d s ob t a ined by t he ac id coagu l a t i on o f bo i l ed who le m i lk & subsequen t d r a inage o f whey . The ac id s common ly u sed a r e c i t r i c i n bo th na tu r a l & chemica l f o rms . T rad i t i ona l l y panee r ha s been a va r i e t y o f p r e s sed channa , u sed ma in ly i n p r epa r ing cooked vege t ab l e d i she s l i ke pa l ak panee r , panee r bu t t e r masa l a e t c .

P a c k i n g S i z e s

2 0 0 g m s p o l y b a g5 0 0 g m s p o l y b a g

1 0 0 0 g m s p o l y b a g

MATKA DAHI

Ma tka Dah i i s a f e rmen t ed mi lk beve rage . Dah i o r i g ina l l y was s e t u s ing mud po t s s i nce ance s t r a l days fo r t he pu rpose o f ge t t i ng t ha t un ique f l avou r & t a s t e ga ined due t o t he po rous p rope r ty o f mud po t s a l l owing f i l t e r ed a i r f l ow . P a c k i n g S i z e s

1 0 0 g ms

2 0 0 g m s

MILK

Mi lk i s an a lmos t i dea l f ood . I t ha s h igh nu t r i t i ve va lue . I t supp l i e s body bu i l d ing p ro t e in s , bone fo rming mine ra l s and hea l t h g iv ing v i t amins and fu rn i she s ene rgy g iv ing l a c to se and mi lk f a t . Bes ide s supp ly ing some e s sen t i a l f a t t y a c id s , i t con t a in s t he above nu t r i en t s i n an ea s i l y d ige s t i b l e and a s sa i l ab l e fo rm . A l l t he se p rope r t i e s make mi lk an impor t an t f ood fo r p r egnan t women , g rowing ch i l d r en , ado l e scen t s , adu l t s , i nva l i d s , conva l e scen t s and pa t i en t s a l i ke .

Mi lk may be de f i ned a s a who le , f r e sh , c l e an , l a c t ea l s ec r e t i on ob t a ined by t he comple t e m i lk ing o f one o r more hea l t hy Mi l ch an ima l s exc lud ing t ha t ob t a ined w i th in 15 days be fo re o r 5 days a f t e r c a lv ing o r such pe r i ods a s may be nece s sa ry t o r ende r t he mi lk p r ac t i c a l l y co lo s t rums f r ee and con t a in ing t he min imum p re sc r i bed pe rcen t age o f m i lk f a t and mi lk - so l i d s -no t - f a t s .

Ka t r a j a l so dea l s i n Bu lk mi lk supp ly t o cus tomer s pu rchas ing min imum 3000 l i t e r s o f m i lk and i n mu l t i p l e s o f 100 l i t r e s t he r eo f .

MILK POWDER

Mi lk i s conve r t ed i n to powde r fo rm and i s so ld . The advan t age o f m i lk powde r i s t ha t i t i s ve ry conven i en t and can be u sed i n s t an t l y .

SHRIKHAND

Sh r ikhand i s a s emi - so f t swee t i sh - sou r who le m i lk p roduc t p r epa red f rom l ac t i c f e rmen t ed cu rd . t he cu rd (dah i ) i s pa r t i a l l y s t r a i ned t h rough a c l o th t o r emove t he whey and t hus p roduce a so l i d mass c a l l ed chakka ( t he ba s i c i ng red i en t f o r sh r i khand ) . Th i s chakka i s m ixed w i th t he r equ i r ed amoun t o f suga r , c a rdamom, j a i pha l e t c . t o y i e ld sh r i khand .

P a c k i n g S i z e s

1 0 0 g m s p o l y C u p2 5 0 g m s p o l y C u p5 0 0 g m s p o l y C u p

SOFTY ICE –CREAM

Th i s p roduc t i s ma rke t ed i n a so f t cond i t i on and i s r e ady fo r consumpt ion sho r t l y a f t e r i t i s d r awn f rom the f r e eze r . Ka t r a j da i ry ha s so f t chu rne r i n t he i r m i lk f a c to ry i n t he Pune c i t y . Among mi lk p roduc t s i c e c r eam i s a l so r i ch sou rce o f c a l c ium, phospho rus and o the r m ine ra l s o f v i t a l impor t ance i n bu i l d ing good bones and t e e th . I t i s exce l l en t sou rce o f V i t amin A , good

sou rce o f V i t amin B & G , N iac in , V i t amin E . The d ige s t i b i l i t y & pa l a t ab i l i t y o f i c e c r eam i s a l so ve ry h igh .P a c k i n g S i z e s

6 0 m l c o n e

TABLE BUTTER

For yea r s t oge the r , t ab l e bu t t e r i s be ing che r i shed a s a t a s t y food , popu l a r l y e a t en w i th b r ead . I t a l so fo rms a good t opp ing on i ndegeous food l i ke Pav -bha j i , Tha l i p i t h (Pan Cake ) .

Ka t r a j Tab l e Bu t t e r i s Marke t ed by Ka t r a j Da i ry Manufac tu r ed By Dynamix Da i ry Indus t r i e s L td . , Ba rama t i , Maha ra sh t r a , I nd i a

P a c k i n g S i z e :  

1 0 0 g ms , 5 0 0 g ms

Name of the person contacted during ‘Katraj Dairy’ visit :

Theoretical background(Production)

Process

               

D a ir y P ro c es s in g a t K at r a

j

   

               

Pasteurizer Process

1 . Pa s t eu r i z e r2 . Ba l ance t ank 3 . Feed pump 4 . F low con t ro l l e r 5 . Regene ra t i ve p r ehea t i ng s ec t i ons 6 . Cen t r i f uga l c l a r i f i e r 7 . Hea t i ng s ec t i on 8 . Ho ld ing t ube 9 . Boos t e r pump 10 . Ho t wa t e r hea t i ng sy s t em 11 . Regene ra t i ve coo l i ng s ec t i ons 12 . Coo l i ng s ec t i ons 13 F low d ive r s i on va lve 14 . Con t ro l pane l

Milk Pasteurizers

Pa s t eu r i z a t i on i s one o f t he mos t impor t an t p roce s se s i n t he t r e a tmen t o f m i lk . I f c a r r i ed ou t co r r ec t l y , t he se p roce s se s w i l l supp ly mi lk w i th l onge r she l f l i f e .   Tempe ra tu r e and pa s t eu r i z a t i on t ime a r e ve ry impor t an t f a c to r s wh ich mus t be spec i f i ed p r ec i s e ly i n r e l a t i on t o t he qua l i t y o f t he m i lk and i t s she l f - l i f e r equ i r emen t s , e t c .  The pa s t eu r i z a t i on t empe ra tu r e fo r homogen i zed , HTST pas t eu r i z ed , r egu l a r -g r ade mi lk i s u sua l l y 162 -167°F (72 - 75°C) fo r 15 - 20 s ec . The pa s t eu r i z a t i on p roce s s may va ry f rom one coun t ry t o ano the r a cco rd ing t o na t i ona l r egu l a t i ons .  A common r equ i r emen t i n a l l coun t r i e s i s t ha t t he hea t t r e a tmen t mus t gua ran t ee t he de s t ruc t i on o f unwan ted mic roo rgan i sms and o f a l l pa thogen i c bac t e r i a w i thou t t he p roduc t be ing damaged .  

Homogenizat ionHomogen i za t i on i s a gene r i c t e rm wh ich r e f e r s t o p roce s s ing a so lu t i on so t ha t i t b ecomes un i fo rm . The f i r s t s t ep , pa s t eu r i z a t i on , s t e r i l i z e s t he mi lk so t ha t i t i s s a f e r t o d r i nk . Homogen i za t i on s t ab i l i z e s i t f o r a smoo the r f l avo r . In o rde r t o a ccompl i sh homogen i za t i on , t he m i lk i s f o r ced t h rough a ve ry f i ne s c r een a t h igh p r e s su re . The pa r t i c l e s o f f a t b r eak down and combine w i th t he wa t e ry po r t i on o f t he m i lk , r e su l t i ng i n a un i fo rm l i qu id wh ich w i l l no t s epa ra t e ou t , s i nce t he f a t pa r t i c l e s a r e b l ended w i th t he wa t e r . The r e su l t i ng f l u id i s known a s an emu l s ion , s i nce i t r ep re sen t s t he combin ing o f two no rma l ly unmixab l e subs t ances . I n t he c a se o f homogen i zed mi lk , t he emu l s ion i s h igh ly s t ab l e and i t w i l l no t s epa ra t e .When mi lk unde rgoes homogen i za t i on , t he t a s t e does change s l i gh t l y . The f a t i s more even ly d i s t r i bu t ed t h roughou t t he m i lk , r e su l t i ng i n a c r eamie r f l avo r and t ex tu r e . Pa s t eu r i z a t i on ha s a f a r l a rge r impac t on t he f l avo r o f da i ry p roduc t s , bu t i s gene ra l l y v i ewed a s nece s sa ry s i nce i t p r even t s f ood bo rne i l l ne s s . Mos t commerc i a l m i lk i s pa s t eu r i z ed and homogen i zed , a l t hough i t i s pos s ib l e t o f i nd mi lk wh ich ha s no t been pu t t h rough t he homogen i za t i on p roce s s .

Processing Of Products

AMRAKHAND

P r o c e s s

s t an d

a r d b u ff a lo

m i lk ( 4 . 0 t o

4 . 5 % f a t

)

p as t eu ri z

a t io n ( 72 ° C f or

1 5 s ec )

c o ol

t o 3 7

° C

a dd i ti on o f

l ac t ic

c ul t ur e ( 1%

)

i nc ub at i on a t 3 7 ° C f o

r 8 -

1 0 h ou rs

w he n a ci d it y 0 .7 - 0 .8

% :

p la ce d i n a mu sl i n c lo t

h b ag & h un g f or

t he

r em ov al

o f w he y f o

r 8 -

1 0 h ou rs

s o li d m as s p ro du ct i on

c al l ed

c ha kk a

m ix in g c ha kk a w i

t h s ug ar ,

m an go

p ul p ( am ra kh an d)

p ac ki ng

a nd s to ra ge

b el ow

4 ° C

 

C o m p o s i t i o n

M oi s tu r e

M ax : 4 2%

F a t 8 . 5% < = d r y b a si s

P r ot e in

9 % < = d r y b a si s

L a ct o se w i th s u ga r (w i th s u cr o se )

7 2 .5 % > = % b y w e ig h t, d r y b a si s

A sh

0 . 9 % > = d r y b a si s

L a c t i c a c i d 1 . 4 % < = ( % b y w e i g h t )S o l i d s ( % b y w e i g h t )

5 8 % < =

CREAM

Kat r a j Da i ry ha s been manufac tu r i ng p l a s t i c c r eam wi th 65 - 75 % mi lk f a t .

CompositionW at e r

2 2 - 3 2 %

F a t 6 5 - 7 5 %P r o t e i n 1 -

1 . 2 %

L a ct o se

1 . 2 - 1 . 5 %

A s h 0 . 3 - 0 . 4 %

T o t a l S o l i d s 6 8 - 7 8 %S N F 2 . 5 -

3 . 2 %

GHEEP r o c e s s

m i lk

c en tr i fu ga l s ep er at i on

c r e a m

r i p e n e d o r u n r i p e n e d

h e a t i n g u p t o 1 1 0 ° C

g h e e

c o o l i n g

p a c k i n g & s t o r a g e ( r o o m t e m p e r a t u r e )

 

C o m p o s i t i o nM i lk F a t

n o t l e ss t h an 9 9 .7 %

M oi s tu r e

n o t m or e t h an 0 . 3 %

F r ee F a tt y A c id ( o le i c)

m ax 1 . 4 %

JEERA TAK

P r o c e s s

s t an d

a r d b u ff a lo

m i lk ( 4 . 0 t o

4 . 5 % f a t

)

p a st e ur i za t io n ( 71 ° C

f o r 1 0 m in s

)

c oo l t o 3 7 ° C

a d d i t i o n o f l a c t i c c u l t u r e ( 1 % )

i n c u b a t i o n a t 3 7 ° C f o r 8 - 1 0

h o u r s

w h e n a c i d i t y

0 . 7 - 0 . 8 % : A d d i t

i o n o f w a t e r , s u g a r ,

s a l t a n d j e e r a

p o w d e r .

m ix i n

g o f w at e r

, s u ga r , s a lt ,

j e e

r a p ow de r a nd

d ah i

w i th

a g it a to r o r m ix e r

.

p ou ch

p ac ki ng

s t o r a g e b e l o w 4

° C

 

C o m p o s i t i o n

W at e r

9 5 - 9 6 %

T o ta l S o li d s

4 - 5 %

F a t M in : 1 %

S NF

2 . 0 - 2 . 5 %

P r ot e in

1 - 1 . 5 %

L a ct o se

1 . 2 - 1 . 5 %

A s h 0 . 4 % L a c t i c A c i d

M a x : 0 . 3 5 %

LASSI

P r o c e s s

s ta nd ar di z

a t io n o f w ho le

m il k

h ea t in g ( 85 ° C f or

1 0 m in s

)

c o o l a t 3 5 - 3 7 ° C

i n oc u la t io n s t ar t e

r c u lt u r

e & m ix i n

g

i n cu ba t i

o n a t 3 7

° C

w he n

c u rd i s

s e t :

a dd i ti o n o f

s u ga r i n

t h e f o rm o f

s y ru p w hi c h h a s a l re a d

y b e e

n p a st u er i ze d a nd

c o ol e d s e pe r at e ly

s mo o t

h c o ns i st e nc y o f l a ss i i s

o b ta i ne d b y

p a ss i n

g t h e m ix t ur e

t h ro ug h a

h om og e ni z e

r

p ou ch

p a ck i n

g

s t or a g

e a t

r e fr i ge r at o r t e

m pe r at u r

e

 

C o m p o s i t i o n

W at e r

7 5 - 8 0 %

T o ta l S o li d s

2 0 - 2 5 %

F a t 3 - 4 %

S NF

6 - 7 %

P r ot e in

3 - 4 %

L a ct o se w i th s u ga r

1 2 - 1 5 %

A s h 0 . 4 - 0 . 6 %L a c t i c a c i d

M a x i m u m : 0 . 7 5 %

MALAI PANEER

P r o c e s s

s t a n d a r d i z a t i o n o f w h o l e m i l k ( 4 . 5 t o 6 . 0 % f a t )

p a s t e u r i z a t i o n ( 8 5 ° C f o r 1 0

m i n s )

c oo l a t 7 0 -

7 5 ° C

c o ag u la t io n w i th 1 % c i tr i c a c id

s o lu t io n

w he y

d r ai n in g w i t

h m us l in

c l ot h

m ou l di n g &

p r es s in g

c u tt i ng ,

p a ck i n

g a nd

s t or a g

e b e lo w 4 ° C

 

C o m p o s i t i o n

M oi s tu r e

5 0 -5 5 % ( No t m or e t h an 7 0 % )

T o ta l S o li d s

4 5 - 5 0 % ( No t l e ss t h an 3 0

% )

F a t 2 6 - 2 8 %( No t l e ss t h an 5 0 % o f d r y m a tt e r)

p H 6 . 0

MATKA DAHI

P r o c e s s S t d o r

W ho l e M i l

k

H e a t i n g ( 8 5 o C f o r 1 0 m i n s )

C oo l in g ( a t 3 5 t o

3 7 oC )

I n oc u la t io n s t ar t e

r c u lt u r

e a nd

m ix t ur e

F i ll i ng i n

m ud

p o ts

( ma t ka )

w i th

m ix t ur e

f o r s e tt i ng

I n cu ba t io n a t

3 7 o

C

C ap i n

g a nd

r e fr e gi r at i ng

s t or e a t

r e fe r ig r at i on t e

m pe r at u r

e

C o m p o s i t i o n o f W h o l e M i l k D a h i

D e s c r i p t i o n P e r c e n t a g e

W a t e r 8 5 - 8 8

F a t 5 - 8

P r ot e in

3 . 2 - 3 . 4

L a ct o se

4 . 6 - 5 . 2

A sh

0 . 70 - 0 . 72

L a ct i c A c id

0 . 5 - 1 . 1

MILK

Pasteurizat ion: The t e rm pas t eu r i z a t i on r e f e r s t o t he p roce s s o f hea t i ng each & eve ry pa r t i c l e o f m i lk t o a t - l e a s t 63° C fo r 30 minu t e s , o r 72° C fo r 15 s econds i n app roved and p rope r ly ope ra t ed equ ipmen t . Af t e r pa s t eu r i z a t i on t he mi lk i s g r adua l l y coo l ed t o 5 ° C o r be low .

Homogenizat ion: Homogen i za t i on r e f e r s t o t he p roce s s o f f o r c ing t he mi lk t h rough a homogen i ze r w i th t he ob j ec t o f sub d iv id ing t he f a t g lobu l e s .

Standards of different Milks C l as s o f

M i lk

M in i

m um

% M . F a t

% S N F

C ow M i lk

3 . 5 8 . 5

S t a n d a r d i z e d M i l k 4 . 5 8 . 5T o n e d M i l k

3 . 0 8 . 5

D ou b le

1 . 5 9 . 0

T on e d M i lk

S k im me d M i lk

L e ss t h an 0 . 1

8 . 7

F u ll c r em ed M i lk

6 9 . 0

B u f f a l o M i l k 6 9

SHRIKHAND

P r o c e s s

s t an d

a r d b u ff a l

o m i lk ( 4 . 0 t o

4 . 5 % f a t

)

p a s t e u r i z a t i o n ( 7 2 ° C f o r 1 5 s e c )

c o o l t o 3 7 ° C

a dd i ti o n o f

l a ct i c c u lt u r

e ( 1%

)

i n cu ba t i

o n a t 3 7

° C f o r 8 - 1 0 h ou r s

w he n a c id i ty

0 . 7 -

0 . 8 %

: p l ac e d i n a

m us l in

c l ot h b ag & h un g f o r t h e r em ov a l o f w he y f o r 8 - 1 0 h ou r s

s o li d m as s

p r od uc t io n c a ll e d c h ak ka

m ix i n

g c h ak ka

w i th

s u ga r , c a rd am om , j a ip ha l

e t c.

p a ck i n

g a nd

s t or a g

e b e lo w 4 ° C

 

C o m p o s i t i o n

M oi s tu r e

M ax : 4 2%

F a t 8 . 5% < = d r y b a si s

P r o t e i n 9 % < = d r y b a s i s L a c t o s e w i t h s u g a r ( w i t h s u c r o s e )

7 2 . 5 % > = % b y w e i g h t , d r y b a s i s

A sh

0 . 9 % > = d r y b a si s

L a ct i c a c id

1 . 4 % < = ( % b y w e ig h t)

S o l i d s ( % b y w e i g h t ) 5 8 % < =

SOFTY ICE-CREAM

C o m p o s i t i o n

F a t > =1 0%

S N F 1 0 - 1 1 %S u g a r 1 5

- 1 6 %

S t ab i l iz e r & E mu l iz e r

0 . 4 - 0 . 5 %

P r ot i en s

> =3 . 5%

TABLE BUTTER

C o m p o s i t i o n :

M i lk F a t

N o t L e ss T ha n 8 0%

S a l t M a x i m u m 3 %

M i l k S o l i d s l e s s t h a n 1 . 5 %

M o i s t u r e 1 6 % > = ( m / m )

OBSERVATION

Fa t Tes t i ng

Fa t i n m i lk i s t e s t ed a f t e r co l l e c t i on t o check i f t he f a t i s i n t he s t anda rd p r e sc r i bed

Elec t ron i c Mi lk Ana lyze r

I n t h i s qua l i t y o f m i lk i s t e s t ed . I f t he m i lk i s o f good qua l i t y t hen i t i s pa s sed t o nex t s t age

TURN DAIRY PLANT

Mi lk i s t e s t ed a f t e r co l l e c t i on and t hen b rough t t o Tu rn Da i ry P l an t f o r pu r i fy ingIn t h i s p roce s s m i lk i s hea t ed nea r abou t 150 Degree s and t hen coo l ed down up to 4 deg ree s so t ha t m i lk i s f r e e o f bac t e r i a and t hen s en t t o s t o r age

Mi lk P roce s s ing

Mi lk i s p roce s sed a f t e r co l l e c t i ng and t e s t i ng i n t he above mi lk p roce s s ing mach ine

CREAM SEPERETOR

C ream sepa ra to r da i ry mach ine u sed t o s epa ra t e f r e sh who le m i lk i n to c r eam and sk im mi lk . Who le mi lk i s conduc t ed i n to a bowl , common ly t h rough a c en t r a l t ubu l a r sha f t . A sp ind l e ro t a t e s t he bowl a t a r a t e o f f rom 6 ,000 t o 9 ,000 rpm, and a s e r i e s o f i den t i c a l con i ca l d i sk s s epa ra t e s t he m i lk i n to ve r t i c a l l aye r s . The heav i e r sk im mi lk co l l e c t s on t he ou t e r c i r cumfe rence o f t he r ap id ly wh i r l i ng bowl , and t he l i gh t e r c r eam t ends t o

r ema in i n t he c en t e r . The p r e s su re o f t he who le -mi lk supp ly above t he bowl t hen fo r ce s t he c r eam and sk im mi lk ou t o f t he mach ine and i n to s epa ra t e co l l e c t i ng ve s se l s . The c r eam sepa ra to r makes i t pos s ib l e t o con t ro l t he amoun t o f f a t ( c a l l ed bu t t e r f a t ) r ema in ing i n t he mi lk

Cream Co l l ec t i on In c r eam sepa ra to r , t he c r eam wh ich i s s epa ra t ed f rom mi lk , i s co l l e c t ed i n t h i s p roce s s

GHEE BOILER

In this Cream is converted into Ghee

Mi lk Packag ing Mi lk i s packaged i n t he above mi lk packag ing mach ine

VISHAY COMPONENTS

About Vishay

Globa l Indus try LeaderVishay i s one o f t he wor ld ’ s l a rge s t manufac tu r e r s o f d i s c r e t e s emiconduc to r s and pa s s ive e l e c t ron i c componen t s . These componen t s a r e u sed i n v i r t ua l l y a l l t ype s o f e l e c t ron i c dev i ce s and equ ipmen t , i n t he i ndus t r i a l , compu t ing , au tomot ive , consumer , t e l e commun ica t i ons , m i l i t a ry , a e ro space , and med i ca l ma rke t s .V i shay ’ s g loba l f oo tp r i n t i nc ludes s a l e s o f f i c e s wor ldwide , a s we l l a s manufac tu r i ng p l an t s i n Ch ina and f i ve o the r As i an coun t r i e s , Eu rope , and t he Amer i ca s . I t s p roduc t i nnova t i ons , succe s s fu l a cqu i s i t i on s t r a t egy , f ocus on cos t r educ t i ons , and ab i l i t y t o p rov ide “one - s top shop” s e rv i ce have made V i shay a g loba l i ndus t ry l e ade r .

Growth Through Innovat ions and Acqu i s i t i onsVishay was founded i n 1962 t o manufac tu r e and marke t f o i l r e s i s t o r s , an i nven t i on o f Dr . Fe l i x Zandman , Cha i rman o f t he Boa rd and founde r . The Company began ope ra t i ons w i th fo i l r e s i s t o r s and s t r a i n gages a s i t s i n i t i a l p roduc t o f f e r i ngs . I n 1985 , hav ing g rown f rom a s t a r t - up i n to t he wor ld ' s l e ad ing manufac tu r e r o f t he se p roduc t s , V i shay began an ongo ing s e r i e s o f

s t r a t eg i c a cqu i s i t i ons t o become a b road - l i ne manufac tu r e r o f e l e c t ron i c componen t s .V i shay ' s a cqu i s i t i ons i nc lude such t op names a s S i l i con ix , Te l e funken , t he i n f r a r ed componen t s bus ine s s o f I n f i neon , Gene ra l Semiconduc to r , Da l e , Dra lo r i c , Sp rague , V i t r amon , and BCcomponen t s ( fo rmer pa s s ive componen t s bus ine s se s o f Ph i l i p s E l ec t ron i c s and Beysch l ag ) .

Lead ing Wor ldwide Manufac turerVishay ha s ma rke t sha r e s r ang ing f rom subs t an t i a l t o number -one fo r e ach o f i t s p roduc t s . Spec i f i c p roduc t r ank ings i nc lude t he fo l l owing :

Discre te Semiconduc torsNumber 1 wor ldwide i n l ow-vo l t age power MOSFETsNumber 1 wor ldwide i n r e c t i f i e r sNumber 1 wor ldwide i n g l a s s d iodesNumber 1 wor ldwide i n i n f r a r ed componen t s. . . and o the r sPass ive Component sNumber 1 wor ldwide i n w i r ewound and o the r power r e s i s t o r sNumber 1 wor ldwide i n fo i l , MELF, t h in f i lm , and cu r r en t s ense r e s i s t o r sNumber 1 wor ldwide i n we t t an t a lum capac i t o r sNumber 1 wor ldwide i n s t r a i n gage s enso r s and l oad ce l l s and o the r s

Succes s fu l S t ra tegy , F inanc ia l S t rengthVishay ’ s g rowth t h rough i nnova t i ons and acqu i s i t i ons ha s enab l ed i t t o r ema in f i nanc i a l l y s t r ong du r ing pe r i od i c down tu rns i n t he h igh ly cyc l i c a l e l e c t ron i c s i ndus t ry . V i shay ’ s h i s t o r i c a l l y s t r ong ca sh gene ra t i on ha s p rov ided money t o a cqu i r e o the r compan i e s and bus ine s se s . The r e su l t i s a 20% compound annua l g rowth r a t e o f r evenues f rom 1986 t o 2006 . I n t he p roce s s , V i shay ha s become a t r u ly i n t e rna t i ona l company t ha t s e l l s i n to a l l geog raph i c ma rke t s and a l l r e l evan t ma rke t s egmen t s .

Meet ing Cus tomer NeedsVishay ’ s cus tomer mix i nc ludes o r i g ina l equ ipmen t manufac tu r e r s (OEMs) , e l e c t ron i c manufac tu r i ng s e rv i ce s (EMS) compan i e s t ha t manufac tu r e fo r OEMs on an ou t sou rc ing ba s i s , and d i s t r i bu to r s t ha t , depend ing on t he i r s i z e , s e l l t o end cus tomer s a t an i n t e rna t i ona l , r eg iona l , o r l oca l l eve l .F rom a cus tomer pe r spec t i ve , V i shay ’ s “one - s top shop” s e rv i ce fo r comple t e d i s c r e t e componen t so lu t i ons p rov ide s key bene f i t s : Cus tomer s a r e ab l e t o s t r e aml ine t he i r de s ign and pu rchas ing p roce s se s by o rde r i ng mu l t i p l e t ypes o f componen t s f rom Vi shay . Cus tomer s c an s end t he i r b i l l s o f ma t e r i a l s t o V i shay and a sk t ha t V i shay c ro s s - r e f e r ence V i shay p roduc t s

i n a l l c a t ego r i e s . I n add i t i on , V i shay ’ s p roduc t s amp le s e rv i ce fo r de s ign eng inee r s p rov ide s f r e e p roduc t s amp le s wor ldwide .

Projec t ing V i shay in to the Future

Sma l l e r s i z e s , f a s t e r da t a p roce s s ing , improved g r aph i c s , and more ve r sa t i l e w i r e l e s s connec t i v i t y a r e some o f t he cha l l enges f a ced by de s igne r s o f new end p roduc t s o f a l l k i nds — f rom indus t r i a l mach ine ry t o med i ca l dev i ce s t o MP3 p l aye r s . V i shay ro l l s ou t a s t e ady s t r e am o f new and improved componen t s t o he lp de s igne r s mee t t he se cha l l enges .Innova t i on and conso l i da t i on , gu ided by a s t r ong managemen t t e am and suppo r t ed by V i shay ’ s wor ldwide “one f ace t o t he cus tomer” i n i t i a t i ve , p rov ide t he ba s i s f o r V i shay ’ s con t i nued g rowth .

Customer Assurance

Vishay s t a t e s i t s p r ima ry goa l i s " t o exceed t he expec t a t i ons o f ou r cus tomer s . " The en t i r e o rgan i za t i on , beg inn ing w i th t op managemen t , ha s worked cons i s t en t l y t o mee t t ha t ob j ec t i ve . V i shay ' s r epu t a t i on fo r qua l i t y i s ba sed on a commi tmen t t o t he newes t and mos t e f f ec t i ve de s ign , manufac tu r i ng , t e s t i ng , and managemen t p rocedu re s - i nc lud ing bo th S t a t i s t i c a l P roce s s Con t ro l and con t i nuous improvemen t me thodo log i e s . To complemen t qua l i t y sy s t ems fo r e ach p roduc t l i ne , V i shay ma in t a in s ex t ens ive t e s t i ng l abo ra to r i e s a t i t s f a c i l i t i e s . As a r e su l t , t he Company i s we l l equ ipped t o ma in t a in qua l i f i c a t i ons t o a w ide r ange o f spec i f i c a t i ons v i t a l t o t he au tomot ive , commerc i a l , de f ense , and ae rospace marke t s , i nc lud ing :  MIL (Mi l i t a ry Spec i f i c a t i ons ) ER (Es t ab l i shed Re l i ab i l i t y )  CECC (CENELEC E lec t ron i c Componen t s Commi t t e e ) DIN (Ge rman Indus t r i a l S t anda rds ) SNQ (Se rv i ce Na t i ona l de l a Qua l i t é - F r ench S t anda rds ) BS (Br i t i sh S t anda rds ) NASA (Na t i ona l Ae ronau t i c s and Space Admin i s t r a t i on S t anda rds )  IS0 9000 ( In t e rna t i ona l Organ i za t i on fo r S t anda rd i za t i on ) QS 9000 (Au tomot ive Qua l i t y Sys t em) TS 16949 (Au tomot ive Qua l i t y Sys t em)

Such a s su rances enab l e many cus tomer s t o dep loy sh ip - t o - l i ne p rog rams w i th V i shay , e l im ina t i ng t he t ime and cos t o f r e ce iv ing and i n spec t i ons . Un in t e r rup t ed P roduc t Ava i l ab i l i t yFo r many cus tomer s , dependab i l i t y o f supp ly i s a ma jo r qua l i t y f a c to r i n s e l ec t i ng a vendo r . V i shay s eeks t o ensu re un in t e r rup t ed de l i ve ry o f p roduc t s t h rough dua l - l oca t i on sou rc ing . Th i s means cus tomer s ' p roduc t i on s chedu l e s a r e p ro t ec t ed , even i f supp ly f rom a pa r t i cu l a r l oca t i on i s i n t e r rup t ed . Va lue -Added Cus tomer Bene f i t sV i shay ' s cu s tomer s r e a l i z e t he se va lue -added bene f i t s : s t a t e -o f - t he - a r t p roduc t de s ign and manufac tu r i ng t e chn iques , new and improved p roduc t s , f a s t e r and more dependab l e de l i ve ry o f qua l i t y p roduc t supp ly a t compe t i t i ve p r i c e s , and r e spons ive t e chn i ca l suppo r t any whe re i n t he wor ld . V i shay ' s Cus tomer Se rv i ce Po l i cy i nc ludes : A commi tmen t t o p rov ide wor ld - c l a s s cus tomer s e rv i ce wh ich s t a r t s w i th t he Cha i rman and CEO and ex t ends t h rough t op managemen t and t he en t i r e work fo rce . Ma in t a in ing dua l o r t r i p l e p roduc t i on s i t e s f o r mos t o f i t s p roduc t s ensu re an un in t e r rup t ed supp ly . Con t i nuous upg rad ing o f p roduc t qua l i t y and cus tomer s e rv i ce cons i s t en t w i th cus tomer expec t a t i ons .   P romot ing supp l i e r and cus tomer pa r t ne r sh ip s t o add re s s chang ing r equ i r emen t s and p rob l em so lv ing so lu t i ons . An t i c i pa t i ng fu tu r e p roduc t and s e rv i ce expec t a t i ons o f V i shay cus tomer s t o ensu re con t i nued cus tomer s a t i s f ac t i on .  A s t r e aml ined s a l e s and marke t i ng o rgan i za t i on o f f e r i ng cus tomer s na t i ona l and mu l t i na t i ona l suppo r t .

MISSION STATEMENT

Prov ide Our Cus tomers Wi th :  A s i ng l e manufac tu r i ng sou rce (one - s top - shopp ing ) fo r d i s c r e t e s emiconduc to r s and pa s s ive componen t s  Qua l i t y s t a t e -o f - t he - a r t p roduc t s a t compe t i t i ve p r i c e s  A con t i nuous s t r e am o f new p roduc t s  Supe r io r cus tomer s e rv i ce wor ldwide

Prov ide Our Supp l i er s Wi th :  Re l i ab l e l ong - t e rm r e l a t i onsh ip s

Prov ide Our Shareho lders Wi th : A good r e tu rn on t he i r i nves tmen t

Prov ide Our Employees Wi th :  Respons ib l e and e th i ca l l e ade r sh ip A c r ea t i ve work ing env i ronmen t  Respons ib l e commun i ty member sh ip a t a l l V i shay l oca t i ons

VISHAY HISTORY

Ear ly Techno logy BreakthroughsIn t he 1950s , pa t en t s we re i s sued fo r t he Pho toS t r e s s® p roduc t s deve loped by Dr . Fe l i x Zandman . These p roduc t s r evea l and measu re s t r e s s d i s t r i bu t i on i n a i rp l anes , c a r s , and o the r s t r uc tu r e s unde r l i ve l oad cond i t i ons . H i s r e sea r ch i n t h i s a r ea l ed h im to deve lop Bu lk Me ta l® fo i l r e s i s t o r s , t he mos t p r ec i s e and s t ab l e r e s i s t o r s ava i l ab l e — bo th t hen and now, ove r fou r decades l a t e r .Dr . Zandman , w i th t he f i nanc i a l suppo r t o f A l f r ed P . S l ane r , f ounded V i shay i n 1962 t o deve lop and manufac tu r e Bu lk Me ta l f o i l r e s i s t o r s . The Company was named a f t e r t he v i l l age i n L i t huan i a whe re r e l a t i ve s o f Dr . Zandman and Mr . S l ane r had pe r i shed du r ing t he Ho locaus t . The Company’ s i n i t i a l p roduc t po r t fo l i o cons i s t ed o f f o i l r e s i s t o r s and fo i l r e s i s t ance s t r a i n gages .

Pass ive Component Acqu i s i t i onsDur ing t he 1960s and 1970s , V i shay became known a s t he wor ld ’ s l e ad ing manufac tu r e r o f f o i l r e s i s t o r s , Pho toS t r e s s p roduc t s , and s t r a i n gages . V i shay ’ s subsequen t dec i s i on t o g row th rough acqu i s i t i ons p roved ve ry succe s s fu l . S t a r t i ng i n 1985 , V i shay acqu i r ed r e s i s t o r compan i e s Da l e E l ec t ron i c s , Dra lo r i c E l ec t ron i c , and S fe rn i ce . These acqu i s i t i ons he lped p roduce d r ama t i c s a l e s g rowth . I n t he e a r l y 1990s , V i shay app l i ed i t s a cqu i s i t i on s t r a t egy t o t he c apac i t o r ma rke t by pu rchas ing Sp rague E l ec t r i c , Roede r s t e i n , and V i t r amon .Vi shay acqu i r ed BCcomponen t s ( fo rmer pa s s ive componen t bus ine s se s o f Ph i l i p s E l ec t ron i c s and Beysch l ag ) i n 2002 . Th i s a cqu i s i t i on expanded V i shay ’ s po r t fo l i o o f pa s s ive componen t s and g r ea t l y enhanced i t s g loba l ma rke t pos i t i on .

So lu t ions for Weigh ing and MeasurementThrough s t r a t eg i c a cqu i s i t i ons , V i shay ’ s o r i g ina l s t r a i n gage bus ine s s ha s become the founda t i on o f an ex t ens ive po r t fo l i o o f p roduc t s f o r we igh ing and measu remen t t ha t i nc ludes r e s i s t ance s t r a i n gages ( i n wh ich V i shay i s t he wor ldwide l e ade r ) , t r an sduce r s ( t he me t a l l i c s t r uc tu r e s t o wh ich s t r a i n gages a r e c emen ted ) , e l e c t ron i c i n s t rumen t s t ha t measu re and con t ro l ou tpu t o f t he t r ansduce r s , and comple t e sy s t ems fo r p roce s s con t ro l and on -boa rd we igh ing app l i c a t i ons t ha t i nc lude ha rdware and so f twa re . V i shay de s igns , i n s t a l l s , and ma in t a in s cus tomized sy s t ems fo r p roce s s con t ro l i n pape r m i l l s , f ood p roce s s ing p l an t s , and o the r f a c i l i t i e s wor ldwide . V i shay on -boa rd we igh ing sy s t ems a r e u sed i n t he was t e hand l i ng , t r uck ing , f o r e s t ry , qua r ry and min ing , and ae rospace i ndus t r i e s .

Growth in Semiconduc torsIn 1998 , V i shay acqu i r ed t he Semiconduc to r Bus ine s s Group o f TEMIC, wh ich i nc luded Te l e funken and 80 .4% o f S i l i con ix , p roduce r s o f MOSFETs ,

RF t r ans i s t o r s , d iodes , op toe l ec t ron i c s , and power and ana log sw i t ch ing i n t eg ra t ed c i r cu i t s .V i shay ’ s nex t s emiconduc to r a cqu i s i t i on came i n 2001 , w i th t he pu rchase o f t he i n f r a r ed componen t s bus ine s s o f I n f i neon Techno log i e s . Tha t was fo l l owed t he s ame yea r by V i shay ’ s a cqu i s i t i on o f Gene ra l Semiconduc to r , a l e ad ing g loba l manufac tu r e r o f r e c t i f i e r s and d iodes . The add i t i on o f I n f i neon ’ s i n f r a r ed componen t s g roup and Gene ra l Semiconduc to r enhanced V i shay ’ s ex i s t i ng Te l e funken and S i l i con ix bus ine s se s and p rope l l ed V i shay i n to t he t op r anks o f d i s c r e t e s emiconduc to r manufac tu r e r s . I n 2005 , V i shay pu rchased t he r ema in ing 19 .6% o f S i l i con ix sha re s .In Apr i l 2007 , V i shay comple t ed t he a cqu i s i t i on o f s e l e c t ed d i s c r e t e s emiconduc to r and modu le p roduc t l i ne s f rom In t e rna t i ona l Rec t i f i e r .

PRODUCTS

Analog multiplexers  Analog switches  Attenuators Capacitors Connectors Crystals  DC/DC converters  Diodes Displays  FETs, small-signal  Fuses  Hybrids & substrates  Inductors Integrated modules  Infrared emitters  IR receiver modules IR touch panels IrDA® transceivers Isolators JFETs LEDs  Load cells  MOSFETs  Motion transducers  Networks Optical sensors  Optocouplers Optoelectronics Oscillators  Photo detectors  PhotoStress® Plus 

Potentiometers  Power ICs  Rectifiers R/C networks  Resistor networks  Resistors, discrete  Resistors, variable  RF transceivers  Rheostats  Solid state relays Strain gages  Substrates Test & measurements  Thermistors and sensors  Transformers  Transistors, RF  Trimmers TVS & ESD Varistors  Weighing systems 

VISHAY   BRANDS  

Many Names , One Manufac turerVishay ha s g rown th rough acqu i s i t i ons t o i nc lude such t op names a s Da l e , S f e rn i ce , Dra lo r i c , Sp rague , V i t r amon , S i l i con ix , Gene ra l Semiconduc to r , BCcomponen t s , and Beysch l ag . V i shay ' s po r t fo l i o o f b r ands r ep re sen t s an unma tched co l l e c t i on o f d i s c r e t e s emiconduc to r s , pa s s ive componen t s , and so lu t i ons fo r we igh ing and measu remen t . A l l o f t he se b r ands and p roduc t s a r e pa r t o f one g loba l manufac tu r e r : V i shay .

BrandsVishay Angs t rohm V i shay Az t ron i c V i shay BCcomponen t s V i shay Beysch l ag V i shay BLH V i shay Ce l t ron V i shay Ce ra -Mi t e V i shay Da l e V i shay Dra lo r i c V i shay E l ec t ro -F i lms V i shay ESTA V i shay Fo i l Res i s t o r s V i shay Measu remen t s Group V i shay Mic ro -Measu remen t sVi shay Nobe l V i shay Roede r s t e i n V i shay Semiconduc to r s V i shay Senso r t ron i c s V i shay S fe rn i ce V i shay S i l i con ix V i shay Spec t ro l V i shay Sp rague V i shay Techno V i shay Tedea -Hun t l e igh V i shay Th in F i lm V i shay T ransduce r s V i shay V i t r amon

Capacitors

A capac i t o r i s an e l e c t r i c a l / e l e c t ron i c dev i ce t ha t c an s t o r e ene rgy i n t he e l e c t r i c f i e l d be tween a pa i r o f conduc to r s ( c a l l ed "p l a t e s " ) . The p roce s s o f s t o r i ng ene rgy i n t he c apac i t o r i s known a s " cha rg ing" , and i nvo lve s e l e c t r i c cha rge s o f equa l magn i t ude , bu t oppos i t e po l a r i t y , bu i l d ing up on each p l a t e .Capac i t o r s a r e o f t en u sed i n e l e c t r i c a l c i r cu i t and e l ec t ron i c c i r cu i t s a s ene rgy - s to r age dev i ce s . They can a l so be u sed t o d i f f e r en t i a t e be tween h igh - f r equency and l ow- f r equency s i gna l s . Th i s p rope r ty makes t hem use fu l i n e l e c t ron i c f i l t e r s .Capac i t o r s a r e occa s iona l l y r e f e r r ed t o a s condense r s . Th i s i s cons ide red an an t i qua t ed t e rm in Eng l i sh , bu t mos t o the r l anguages u se an equ iva l en t , l i ke "Kondensa to r " i n Ge rman o r "Condensado r " i n Span i sh .

Capac i t o r s : SMD ce ramic a t t op l e f t ; SMD t an t a lum a t bo t t om l e f t ; t h rough -ho l e t an t a lum a t t op r i gh t ; t h rough -ho l e e l e c t ro ly t i c a t bo t t om r i gh t . Ma jo r s ca l e d iv i s i ons a r e cm .

Var ious t ypes o f c apac i t o r s . F rom l e f t : mu l t i l aye r c e r amic , c e r amic d i s c , mu l t i l aye r po lye s t e r f i lm , t ubu l a r c e r amic , po ly s ty r ene , me t a l l i z ed po lye s t e r f i lm , a l umin ium e l ec t ro ly t i c . Ma jo r s ca l e d iv i s i ons a r e cm .

Var ious capac i t o r s . The l a rge cy l i nde r s a r e h igh va lue e l e c t ro ly t i c t ypes

A 12 pF 20 kV f i xed vacuum capac i t o r

Capac i t o r t ypes

By d i e l ec t r i c ma t e r i a lVacuum   : Two me ta l , u sua l l y coppe r , e l e c t rodes a r e s epa ra t ed by a vacuum. The i n su l a t i ng enve lope i s u sua l l y g l a s s o r c e r amic . Typ i ca l l y o f l ow

capac i t ance - 10 - 1000 pF and h igh vo l t age , up t o t en s o f k i l ovo l t s , t hey a r e mos t o f t en u sed i n r ad io t r ansmi t t e r s and o the r h igh vo l t age power dev i ce s . Bo th f i xed and va r i ab l e t ypes a r e ava i l ab l e . Vacuum va r i ab l e c apac i t o r s c an have a m in imum to max imum capac i t ance r a t i o o f up t o 100 , a l l owing any t uned c i r cu i t t o cove r a f u l l decade o f f r equency . Vacuum i s t he mos t pe r f ec t o f d i e l e c t r i c s w i th a z e ro l o s s t angen t . Th i s a l l ows ve ry h igh power s t o be t r ansmi t t ed w i thou t s i gn i f i c an t l o s s and consequen t hea t i ng . A i r   : A i r d i e l e c t r i c c apac i t o r s cons i s t o f me t a l p l a t e s s epa ra t ed by an a i r gap . The me ta l p l a t e s , o f wh ich t he r e may be many i n t e r l e aved , a r e mos t o f t en made o f a l umin ium o r s i l ve r -p l a t ed b r a s s . Nea r ly a l l a i r d i e l e c t r i c c apac i t o r s a r e va r i ab l e and a r e u sed i n r ad io t un ing c i r cu i t s . P l a s t i c f i lm : Made f rom h igh qua l i t y po lymer f i lm (u sua l l y po lyca rbona t e , po ly s ty r ene , po lyp ropy l ene , po lye s t e r ( Myla r ) , and fo r h igh qua l i t y c apac i t o r s po ly su l fone ) , and me ta l f o i l o r a l aye r o f me t a l depos i t ed on su r f ace o f t he p l a s t i c f i lm in a t he me t a l i z ed f i lm type . They have good qua l i t y and s t ab i l i t y , and a r e su i t ab l e fo r t ime r c i r cu i t s . The i r i nduc t ance l im i t s u se a t h igh f r equenc i e s . Mica : S imi l a r t o g l a s s . Of t en h igh vo l t age . Su i t ab l e fo r h igh f r equenc i e s . Expens ive . Exce l l en t t o l e r ance & s t ab i l i t y . Pape r : Used fo r r e l a t i ve ly h igh vo l t age s . Known fo r l ong t e rm f a i l u r e s . G la s s : Used fo r h igh vo l t age s . Expens ive . S t ab l e t empe ra tu r e coe f f i c i en t i n a w ide r ange o f t empe ra tu r e s .

Ce ramic : Ch ips o f a l t e rna t i ng l aye r s o f me t a l and ce r amic , o r d i sk s o f c e r amic w i th me t a l on bo th s i de s o f t he d i sk . Cha rac t e r i s t i c s va ry w ide ly depend ing on t he t ype o f c e r amic d i e l e c t r i c . The d i e l e c t r i c s a r e b road ly ca t ego r i zed a s C l a s s 1 o r C l a s s 2 . C l a s s 2 c e r amic capac i t o r s have s t rong va r i a t i on o f c apac i t ance w i th t empe ra tu r e , h igh d i s s i pa t i on f ac to r , h igh f r equency coe f f i c i en t o f d i s s i pa t i on , and t he i r c apac i t ance depends on app l i ed vo l t age and changes w i th ag ing . Howeve r t hey f i nd mass ive u se i n common low-p rec i s i on coup l i ng and f i l t e r i ng app l i c a t i ons . Su i t ab l e fo r h igh f r equenc i e s . A luminum e l ec t ro ly t i c : Po l a r i z ed . One e l ec t rode made o f a l uminum fo i l , e t ched a lumin ium to acqu i r e much l a rge r su r f ace a r ea . The d i e l e c t r i c i s ox ide g rown on t he e t ched a luminum p l a t e , and t he s econd e l ec t rode i s a l i qu id e l e c t ro ly t e . They can ach i eve h igh capac i t ance bu t su f f e r f rom poo r t o l e r ances , h igh i n s t ab i l i t y , g r adua l l o s s o f c apac i t ance e spec i a l l y when sub j ec t ed t o hea t , and h igh l e akage cu r r en t . The conduc t i v i t y o f t he e l e c t ro ly t e d rops a t l ow t empe ra tu r e s , i nc r ea s ing equ iva l en t s e r i e s r e s i s t ance . Bad f r equency cha rac t e r i s t i c s make t hem unsu i t ed fo r h igh -f r equency app l i c a t i ons . Spec i a l t ypes w i th l ow equ iva l en t s e r i e s r e s i s t ance a r e ava i l ab l e .

Tan ta lum e l ec t ro ly t i c : S imi l a r t o t he a l uminum e l ec t ro ly t i c c apac i t o r bu t w i th be t t e r f r equency and t empe ra tu r e cha rac t e r i s t i c s . H igh d i e l ec t r i c abso rp t i on . H igh l e akage . Has much be t t e r pe r fo rmance a t l ow t empe ra tu r e s . OS-CON (o r OC-CON) capac i t o r s a r e a po lymer i zed o rgan i c s emiconduc to r so l i d - e l ec t ro ly t e t ype t ha t o f f e r l onge r l i f e a t h ighe r cos t t han s t anda rd e l e c t ro ly t i c s . Supe rcapac i t o r s : Made f rom ca rbon ae roge l , c a rbon nano tubes , o r h igh ly po rous e l e c t rode ma t e r i a l s . Ex t r eme ly h igh capac i t y . Can be u sed i n some app l i c a t i ons i n s t e ad o f r e cha rgeab l e ba t t e r i e s . Va rac to r s o r va r i c ap capac i t o r s a r e spec i a l i z ed , r eve r se -b i a sed d iodes whose capac i t ance va r i e s w i th vo l t age . Used i n phase - l ocked l oops , amongs t o the r app l i c a t i ons . AC capac i t o r s a r e c apac i t o r s spec i f i c a l l y de s igned t o work on l i ne (ma ins ) vo l t age ac power c i r cu i t s . These a r e common ly u sed e l ec t r i c mo to r c i r cu i t s . They a r e o f t en de s igned t o hand l e l a rge cu r r en t s so t hey t end t o be phys i ca l l y l a rge . They a r e u sua l l y rugged ly packaged , o f t en i n me t a l c a se s t ha t c an be ea s i l y g rounded / ea r t hed . They a l so t end t o have r a the r h igh DC b reakdown vo l t age s

TechnologiesAluminumCeramic         Mu l t i l aye r           S ing l e l aye r          Ce ramic RF Power  F i lm           Po lye s t e r           Po lyp ropy l ene          Po lyca rbona t e   Heavy Cur r en t Power   S i l i con   Tan t a lum          We t           So l i d  

Mount ing & Cons truc t ion

Sur f ace moun t           0805 and sma l l e r          1206 and l a rge r         Low P ro f i l e Ch ip   Th rough ho l e          Rad i a l         Ax i a l   I n su l a t ed Leads  Sc rew Te rmina l

Appl i ca t ionsMil i t a ry Qua l i f i ed  Heavy Current Power         I nduc t i on Hea t i ng           Power E l ec t ron i c          Power Fac to r Con t ro l l e r s          Low Vo l t age AC          H igh Vo l t age AC         HV Power Supp l i e s  RFI (AC Ma ins )  DC (F i lm)   Pu l s e -AC/Prec i s i on (F i lm)  RF /Wi re l e s s Handhe ld  Smar t Ca rd  

Capac i tancebe low 1 nF  1 nF t o 100 nF  101 nF t o 10 µF   10 .1 µF t o 1 mFabove 1 mF  

Vol tages (AC/DC)be low 10 V  10 V to 25 V  26 V to 50 V

RESISTORS, FIXED DISCRETE

A r e s i s t o r i s a two- t e rmina l e l e c t r i c a l o r e l e c t ron i c componen t t ha t oppose s an e l e c t r i c cu r r en t by p roduc ing a vo l t age d rop be tween i t s t e rmina l s i n a cco rdance w i th Ohm ' s l aw : The e l ec t r i c a l r e s i s t ance i s equa l t o t he vo l t age d rop ac ros s t he r e s i s t o r d iv ided by t he cu r r en t t h rough t he r e s i s t o r wh i l e t he t empe ra tu r e r ema ins t he s ame . Res i s t o r s a r e u sed a s pa r t o f e l e c t r i c a l ne tworks and e l ec t ron i c c i r cu i t s .

Techno logy

Carbon compos i t i on r e s i s t o r s cons i s t o f a so l i d cy l i nd r i c a l r e s i s t i ve e l emen t w i th embedded w i r e l e adou t s o r me t a l end caps t o wh ich t he l e adou t w i r e s a r e a t t a ched , wh ich i s p ro t ec t ed w i th pa in t o r p l a s t i c .The r e s i s t i ve e l emen t i s made f rom a mix tu r e o f f i ne ly g round (powde red ) c a rbon and an i n su l a t i ng ma t e r i a l ( u sua l l y c e r amic ) . The mix tu re i s he ld t oge the r by a r e s i n . The r e s i s t ance i s de t e rmined by t he r a t i o o f t he f i l l ma t e r i a l ( t he powde red ce r amic ) and t he ca rbon . H ighe r concen t r a t i ons o f c a rbon , a weak conduc to r , r e su l t i n l ower r e s i s t ance . Ca rbon compos i t i on r e s i s t o r s we re common ly u sed i n t he 1960s and ea r l i e r , bu t a r e no t so popu l a r f o r gene ra l u se now a s o the r t ypes have be t t e r spec i f i c a t i ons , such a s t o l e r ance , vo l t age dependence , and s t r e s s ( c a rbon compos i t i on r e s i s t o r s w i l l change va lue when s t r e s sed w i th ove r -vo l t age s ) .Ca rbon f i lmA sp i r a l i s u sed t o i nc r ea se t he l eng th and dec rea se t he w id th o f t he f i lm , wh ich i nc r ea se s t he r e s i s t ance . Va ry ing shapes , coup l ed w i th t he r e s i s t i v i t y o f c a rbon , ( r ang ing f rom 9 t o 40 µΩm) can make fo r a va r i e t y o f r e s i s t ance s .

Thick and th in f i lmThick f i lm r e s i s t o r s became popu l a r du r ing t he 1970s , and mos t SMD re s i s t o r s t oday a r e o f t h i s t ype . The p r i nc ipa l d i f f e r ence be tween " t h in f i lm" and " t h i ck f i lm r e s i s t o r s " i sn ' t nece s sa r i l y t he " t h i cknes s " o f t he f i lm , bu t r a t he r , how the f i lm i s app l i ed t o t he cy l i nde r ( ax i a l r e s i s t o r s ) o r t he su r f ace (SMD re s i s t o r s ) . I n t h i ck f i lm r e s i s t o r s t he " f i lm" i s app l i ed u s ing t r ad i t i ona l s c r een -p r in t i ng t e chno logy .Th in f i lm r e s i s t o r s a r e made by spu t t e r i ng t he r e s i s t i ve ma t e r i a l on to t he su r f ace o f t he r e s i s t o r . Spu t t e r i ng i s some t imes ca l l ed vacuum depos i t i on . The t h in f i lm i s t hen e t ched i n a s im i l a r manne r t o t he o ld ( sub t r ac t i ve ) p roce s s fo r mak ing p r i n t ed c i r cu i t boa rds : i e t he su r f ace i s coa t ed w i th a pho to - sens i t i ve ma t e r i a l , t hen cove red by a f i lm , i r r ad i a t ed w i th u l t r av io l e t l i gh t , and t hen t he exposed pho to - sens i t i ve coa t i ng , and unde r ly ing t h in f i lm , a r e e t ched away .

Meta l f i lmA common type o f ax i a l r e s i s t o r t oday i s r e f e r r ed t o a s a me t a l - f i lm r e s i s t o r . MELF (Me ta l E l ec t rode Lead l e s s Face ) r e s i s t o r s o f t en u se t he s ame t e chno logy , bu t a r e a cy l i nd r i c a l l y shaped r e s i s t o r de s igned fo r su r f ace moun t ing . [No te t ha t o the r t ypes o f r e s i s t o r s , eg ca rbon compos i t i on , a r e a l so ava i l ab l e i n "MELF" packages ] .Me ta l f i lm r e s i s t o r s a r e u sua l l y coa t ed w i th n i cke l ch romium (NiCr ) , bu t m igh t be coa t ed w i th any o f t he c e rme t ma t e r i a l s l i s t ed above fo r t h in f i lm r e s i s t o r s . Un l i ke t h in f i lm r e s i s t o r s , t he ma t e r i a l may be app l i ed u s ing d i f f e r en t t e chn iques t han spu t t e r i ng ( t hough t ha t i s one such t e chn ique ) . A l so , un l i ke t h in - f i lm r e s i s t o r s , t he r e s i s t ance va lue i s de t e rmined by cu t t i ng a he l i x t h rough t he coa t i ng r a the r t han by e t ch ing . [Th i s i s s im i l a r t o t he way ca rbon r e s i s t o r s a r e made . ] The r e su l t i s a r e a sonab l e t o l e r ance (0 .5 , 1 , o r 2%) and a t empe ra tu r e coe f f i c i en t o f ( u sua l l y ) 25 o r 50 ppm.

WirewoundWirewound r e s i s t o r s a r e common ly made by w ind ing a me t a l w i r e a round a c e r amic , p l a s t i c , o r f i be rg l a s s co re . The ends o f t he w i r e a r e so lde red o r we lded t o two caps , a t t a ched t o t he ends o f t he co re . The a s semb ly i s p ro t ec t ed w i th a l aye r o f pa in t , mo lded p l a s t i c , o r an ename l coa t i ng baked

a t h igh t empe ra tu r e . The w i r e l e ads a r e u sua l l y be tween 0 .6 and 0 .8 mm in d i ame te r and t i nned fo r e a se o f so lde r i ng . Fo r h ighe r power w i r ewound r e s i s t o r s , e i t he r a c e r amic ou t e r c a se o r an a lumin ium ou t e r c a se on t op o f an i n su l a t i ng l aye r i s u sed . The a lumin ium ca sed t ypes a r e de s igned t o be a t t a ched t o a hea t s i nk t o d i s s i pa t e t he hea t ; t he r a t ed power i s dependan t on be ing u sed w i th a su i t ab l e hea t s i nk , e . g . , a 50 W power r a t ed r e s i s t o r w i l l ove rhea t a t a round one f i f t h o f t he power d i s s i pa t i on i f no t u sed w i th a hea t s i nk .Because w i r ewound r e s i s t o r s a r e co i l s t hey have more i nduc t ance t han o the r t ypes o f r e s i s t o r , a l t hough t h i s p rope r ty c an be min imized by w ind ing t he w i r e i n s ec t i ons w i th a l t e rna t e ly r eve r sed d i r ec t i on .

Foi l r e s i s torFo i l r e s i s t o r s have had t he be s t p r ec i s i on and s t ab i l i t y eve r s i nce t hey we re i n t roduced i n 1958 by Fe l i x Zandman . One o f t he impor t an t pa r ame te r s i n f l uenc ing s t ab i l i t y i s t he t empe ra tu r e coe f f i c i en t o f r e s i s t ance (TCR) . A l though t he TCR o f fo i l r e s i s t o r s i s cons ide red ex t r eme ly l ow , t h i s cha rac t e r i s t i c ha s been fu r t he r r e f i ned ove r t he yea r s . [

FEATURES

Ul t r a - s t ab l e  Mi l i t a ry /ESA  Spec i a l   Cu r r en t s ens ing   F l ame p roo f  Fus ib l e  Use r t r immab le   No i se supp re s so r s

Ul tra h igh prec i s i onTCR 0 .05 ppm/°C (0°C to +60°C)To le r ances t o ± 0 .001%Load- l i f e s t ab i l i t y t o 0 .005%Power coe f f i c i en t o f r e s i s t ance : 4ppm/Wat t o r 5 ppm a t r a t ed powerTCR t r ack ing : 0 .1 ppm/°CShe l f l i f e : 2 ppmNon- Induc t i ve : < 0 .08 µH;R i se t ime : 1 n s

The rma l EMF: 0 .05 µV/°CVol t age coe f f i c i en t < 0 .1 ppm/VCur ren t no i s e : < -40 dB  

Res i s tance10 Ohms o r sma l l e r   10 t o 10K Ohms   10K to 10M Ohms  1M to 1G Ohms   ove r 1G Ohms  

Res i s tance To lerance0 .005% and be t t e r   0 . 01% and be t t e r   0 . 05% and be t t e r  0 . 1% and be t t e r  0 . 5% and be t t e r   1% and be t t e r  5% and be t t e r  

Mount ing and Conf igura t ionThrough ho l e  Su r f ace moun t  

TCR (ppm/C)

0 .5 o r be low  1 o r be low  5 o r be low  

Power0 .25W o r be low  0 .5W o r be low  1W o r be low   1W to 5W   5W o r above  

Package S i ze sSma l l e r t han 0603   0603 and l a rge r  

Spec ia l Cons truc t ionHea t s ink   Ba re Ch ip  

Techno log i e sBulk Me ta l Fo i l  Ca rbon f i lm   MELF   Me ta l a l l oy   Me ta l f i lm   Me ta l ox ide   Power Me ta l S t r i p  Th i ck f i lm  Th in f i lm  Wi rewound  

STOCK MARKET

DEMAT

Demat r e f e r s t o a dema te r i a l i s ed accoun t .Dema te r i a l i s a t i on i s t he p roce s s by wh ich phys i ca l sha r e c e r t i f i c a t e s o f an i nves to r a r e conve r t ed t o an equ iva l en t numbe r o f s ecu r i t i e s i n e l e c t ron i c fo rm and c r ed i t ed i n to t he i nves to r ' s a ccoun t ma in t a ined w i th h i s / he r

depos i t o ry pa r t i c i pan t (DP) . I t i s l i ke hav ing a bank accoun t whe re i n s t e ad o f money , you ho ld s ecu r i t i e s i n you r a ccoun t .

I n o rde r t o dema te r i a l i s e phys i ca l s ecu r i t i e s he ld by an i nves to r , he ha s t o f i l l i n a DRF (Dema t Reques t Fo rm) wh ich i s ava i l ab l e w i th t he DP and submi t t he s ame a long w i th phys i ca l sha r e c e r t i f i c a t e s one w i shes t o dema te r i a l i s e . Sepa ra t e DRF has t o be f i l l ed fo r e ach IS IN Number . The comple t e p roce s s o f de ma t e r i a l i z a t i on i s ou t l i ned be low:

I t i s , howeve r de s i r ab l e t ha t you ho ld s ecu r i t i e s i n dema t fo rm a s phys i ca l s ecu r i t i e s c a r ry t he r i sk o f be ing f ake , f o rged o r s t o l en .

Ju s t a s you have t o open an accoun t w i th a bank i f you wan t t o s ave you r money , make cheque paymen t s e t c , Nowadays , you need t o open a dema t a ccoun t i f you wan t t o buy o r s e l l s t ocks . So i t i s j u s t l i ke a bank accoun t whe re a c tua l money i s r ep l aced by sha re s . You have t o app roach t he DPs t o open you r dema t a ccoun t . Nowadays , p r ac t i c a l l y a l l t r ade s have t o be s e t t l ed i n dema te r i a l i s ed fo rm .  A l though t he marke t r egu l a to r , t he Secu r i t i e s and Exchange Boa rd o f I nd i a   (SEBI ) , ha s a l l owed t r ade s   o f up to 500 sha re s t o be s e t t l ed i n phys i ca l f o rm , nobody wan t s phys i ca l sha r e s any more .So a dema t a ccoun t i s a mus t f o r t r ad ing and i nves t i ng .Mos t banks a r e a l so DP pa r t i c i pan t s , a s a r e many b roke r s . You can choose you r ve ry own DP . To ge t a l i s t , v i s i t t he NSDL and CDSL webs i t e s and s ee who t he r eg i s t e r ed DPs a r e .A b roke r i s s epa ra t e f rom a DP . A b roke r i s a member o f t he s t ock exchange , who buys and s e l l s sha r e s on h i s beha l f and on beha l f o f h i s c l i en t s . A DP wi l l j u s t g ive you an accoun t t o ho ld t hose sha re s . You do no t have t o t ake t he s ame DP tha t you r b roke r t ake s . You can choose you r   own

SHARE

A sha re o r s t ock i s a documen t i s sued by a company , wh ich en t i t l e s i t s ho lde r t o be one o f t he owne r s o f t he company . A sha re i s i s sued by a company o r c an be pu rchased f rom the s t ock marke t .By own ing a sha re one can ea rn a po r t i on and s e l l i ng sha re s one ge t c ap i t a l ga in . So , one ’ s r e t u rn i s t he d iv idend p lu s t he c ap i t a l ga in . Howeve r , one a l so run a r i sk o f mak ing a c ap i t a l l o s s i f he ha s so ld t he sha re a t a p r i c e be low you r buy ing p r i c e .A company ' s s t ock p r i c e r e f l e c t s wha t i nves to r s t h ink abou t t he s t ock , no t nece s sa r i l y wha t t he company i s "wor th . " Fo r example , compan i e s t ha t a r e g rowing qu i ck ly o f t en t r ade a t a h ighe r p r i c e t han t he company migh t cu r r en t l y be "wor th . " S tock p r i c e s a r e a l so a f f ec t ed by a l l f o rms o f company and marke t news . Pub l i c l y t r aded compan i e s a r e r equ i r ed t o r epo r t qua r t e r l y on t he i r f i nanc i a l s t a t u s and ea rn ings . Marke t f o r ce s and gene ra l i nves to r op in ions can a l so a f f ec t sha r e p r i c e . Eve ry t r ansac t i on i n t he s t ock exchange i s c a r r i ed ou t t h rough l i c ensed member s c a l l ed b roke r s .

DEPOSITORY PARTICIPANT

A depos i t o ry i s an en t i t y wh ich ho ld s s ecu r i t i e s o f i nves to r s i n e l e c t ron i c fo rm a t t he r eques t o f t he i nves to r s t h rough a r eg i s t e r ed Depos i t o ry pa r t i c i pan t . I t a l so p rov ide s s e rv i ce s r e l a t ed t o t r ansac t i ons i n s ecu r i t i e s ba sed on i n s t ruc t i ons g iven by t he i nves to r s t o depos i t o ry pa r t i c i pan t .

At p re sen t two Depos i t o r i e s v i z . Na t i ona l Secu r i t i e s Depos i t o ry L imi t ed (NSDL) and Cen t r a l Depos i t o ry Se rv i ce s ( I ) L imi t ed (CDSL) a r e r eg i s t e r ed w i th SEBI .

A depos i t o ry pa r t i c i pan t i s a pe r son o r en t i t y , wh i ch i s r eg i s t e r ed w i th depos i t o r i e s such a s NSDL and /o r CDSL a s a l so w i th SEBI and who o f f e r s s e rv i ce s o f ho ld ing you r sha re s and e f f ec t i ng t r ans f e r ( a ccep t i ng c r ed i t s i n you r a ccoun t a s we l l t r ans f e r r i ng sha re s f rom you r a ccoun t t o t ha t o f some one e l s e ba sed on you r i n s t ruc t i ons ) .

DPs i s sue De l i ve ry In s t ruc t i on S l i p s (o r DIS ) t o a l l a ccoun t ho lde r s . These a r e l i ke cheque l e aves . Wheneve r you wan t t o t r ans f e r sha r e s f rom you r a ccoun t t o ano the r a ccoun t , you a r e r equ i r ed t o f i l l t he r e l evan t de t a i l s such a s s ecu r i t y i den t i f i c a t i on number , numbe r o f sha r e s you wan t t o t r ans f e r , da t e o f t r ans f e r , a ccoun t t o wh ich sha re s need t o be t r ans f e r r ed e t c . and submi t t h i s s l i p t o you r DP . The DP wou ld t hen a f f ec t t he t r ans f e r . You can g ive s t and ing i n s t ruc t i ons t o you r DP fo r a l l c r ed i t s t o you r a ccoun t , whe reby you need no t g ive i n s t ruc t i ons t o you r DP each and eve ry t ime fo r a ccep t i ng c r ed i t t o you r a ccoun t

Depos i t o ry / DP can be chosen by you a s pe r conven i ence i r r e spec t i ve o f t he DP o f you r b roke r .

Mos t o f t he b roke r s a r e a l so r eg i s t e r ed a s a depos i t o ry pa r t i c i pan t so t ha t t hey o f f e r bo th t he s e rv i ce s and you a l so ge t t he bene f i t o f syne rgy i n ope ra t i ons . Howeve r i t i s no t compu l so ry fo r you t o open a DP accoun t w i th you r b roke r .

INITIAL PUBLIC OFFERING ( IPO)

I t i s t he p roce s s o f s e l l i ng sha re s t ha t we re so f a r p r i va t e ly he ld t o new inves to r s f o r t he f i r s t t ime IPO. I t i s t he p roce s s fo r an un l i s t ed company ( ca l l ed i s sue r ) t o go pub l i c and o f f e r sha r e s t o gene ra l pub l i c i nves to r s . The ma in pu rpose o f an IPO i s t o r a i s e c ap i t a l f o r t he company . The IPOs

a re ve ry e f f ec t i ve a t r a i s i ng cap i t a l .

Pr imary marke t The marke t i n wh ich i nves to r s have t he f i r s t oppo r tun i t y t o buy a newly i s sued s ecu r i t y l i ke i n an IPO.

Underwr i t ingI t i s t he p roce s s by wh ich i nves tmen t banke r s ( appo in t ed fo r t he i s sue ) r a i s e i nves tmen t c ap i t a l f r om gene ra l i nves to r s on beha l f o f t he i s sue r . The word "unde rwr i t e r " i s a l so ca l l ed r i sk t ake r a s new i s sue s a r e b rough t t o ma rke t by an unde rwr i t e r s i n wh ich t hey t ake t he r e spons ib i l i t y ( and r i sk ) o f s e l l i ng i t s spec i f i c a l l o tmen t .

Book Bu i ld ingThe p roce s s by wh ich an t he a t t emp t i s be ing made t o de t e rmine a t wha t p r i c e t he s ecu r i t i e s t o be o f f e r ed ba sed on demand f rom inves to r s . An e l ec t ron i c book i s be ing bu i l t by accep t i ng o rde r s f rom the i nves to r s who i nd i ca t e t he number o f sha r e s t hey de s i r e and t he p r i c e t hey a r e w i l l i ng t o pay .

Over subscr ip t ion A s i t ua t i on i n wh ich t he demand fo r sha re s o f f e r ed i n an IPO exceeds t he number o f sha r e s i s sued .

Procedure o f IPOAn IPO i s u sua l l y unde rwr i t t en by one o r more unde rwr i t e r s c a l l ed a s a " synd i ca t e " o f i nves tmen t banks . The company o f f e r i ng i t s sha r e s en t e r s a con t r ac t w i th a l e ad unde rwr i t e r t o s e l l i t s sha r e s t o t he pub l i c by book bu i l d ing p roce s s . The unde rwr i t e r t hen app roaches i nves to r s w i th o f f e r s t o s e l l t he se sha re s . Upon s e l l i ng t he sha re s , t he unde rwr i t e r s keep a commis s ion ba sed on a pe r cen t age o f t he va lue o f t he sha re s so ld

BOOK BUILDING

Book Bu i ld ing Proces sBook bu i l d ing i s a p roce s s o f p r i c e d i s cove ry i n c a se o f IPOs . When Compan ie s come t h rough t he book bu i l d ing rou t e , t he p r i c e o f t he i s sue i s no t f i xed be fo re hand . Ra the r t he i s sue documen t on ly g ive s a f l oo r p r i c e o r t he p r i c e band w i th in wh ich i nves to r s c an b id fo r t he sha re s . The IPO app l i c an t s b id fo r t he sha re s be ing i s sued by t he company quo t i ng t he p r i c e o f t he i r b id and t he quan t i t y t ha t t hey wou ld l i ke t o b id a t . On ly t he r e t a i l i nve s to r s have t he op t i on o f b idd ing a t ‘ cu t -o f f ’ . Cu t o f f means t ha t t he i nves to r s a r e no t a c t i ve b idde r s bu t t hey a r e w i l l i ng t o a ccep t wha t eve r p r i c e i s ge t t i ng a r r i ved a t ba sed on b idd ing done by o the r pe r sons . Af t e r t he b idd ing p roce s s i s comple t e , t he ‘ cu t -o f f ’ p r i c e i s a r r i ved and sha re s a r e i s sued t o succe s s fu l app l i c an t s .

Pr ice Band P r i c e Band i n t he book bu i l d ing p roce s s r e f e r s t o t he band w i th in wh ich t he i nves to r s c an b id . The sp read be tween t he f l oo r and t he cap o f t he p r i c e band i s no t be ing more t han 20%. In o the r words , i t means t ha t t he c ap shou ld no t be more t han 120% o f t he f l oo r p r i c e . I t i s up t o t he company and i t s me rchan t banke r s t o dec ide on t he p r i c e o r t he p r i c e band o f t he pub l i c i s sue . The re i s no cap o r r egu l a to ry app rova l needed fo r de t e rmin ing t he p r i c e o f an IPO. The on ly r equ i r emen t i s t ha t t he i s su ing company i s r equ i r ed t o d i s c lo se i n de t a i l abou t t he qua l i t a t i ve and quan t i t a t i ve f a c to r s j u s t i f y ing t he i s sue p r i c e .

ENTREPRENEURSHIP

Entrepreneursh ip

Ent r ep reneu r sh ip i s t he p r ac t i c e o f s t a r t i ng new o rgan i za t i ons o r r ev i t a l i z i ng ma tu re o rgan i za t i ons , pa r t i cu l a r l y new bus ine s se s gene ra l l y i n r e sponse t o i den t i f i ed oppo r tun i t i e s . En t r ep reneu r sh ip i s o f t en a d i f f i cu l t

unde r t ak ing , a s a va s t ma jo r i t y o f new bus ine s se s f a i l . En t r ep reneu r i a l a c t i v i t i e s a r e subs t an t i a l l y d i f f e r en t depend ing on t he t ype o f o rgan i za t i on t ha t i s be ing s t a r t ed . En t r ep reneu r sh ip r anges i n s ca l e f rom so lo p ro j ec t s ( even i nvo lv ing t he en t r ep reneu r on ly pa r t - t ime ) t o ma jo r unde r t ak ings c r ea t i ng many j ob oppo r tun i t i e s . Many "h igh -p ro f i l e " en t r ep reneu r i a l ven tu r e s s eek ven tu re c ap i t a l o r ange l f und ing i n o rde r t o r a i s e c ap i t a l t o bu i l d t he bus ine s s . Ange l i nves to r s gene ra l l y s eek r e tu rns o f 20 -30% and more ex t ens ive i nvo lvemen t i n t he bus ine s s . Many k inds o f o rgan i za t i ons now ex i s t t o suppo r t wou ld -be en t r ep reneu r s , i nc lud ing spec i a l i z ed gove rnmen t agenc i e s , bus ine s s i ncuba to r s , s c i ence pa rks , and some NGOs .

Charac ter i s t i c s o f Entrepreneursh ip

The en t r ep reneu r ha s an en thus i a s t i c v i s i on , t he d r i v ing fo r ce o f an en t e rp r i s e . The en t r ep reneu r ' s v i s i on i s u sua l l y suppo r t ed by an i n t e r l ocked co l l e c t i on o f spec i f i c i dea s no t ava i l ab l e t o t he ma rke tp l ace . The ove ra l l b luep r in t t o r e a l i z e t he v i s i on i s c l e a r , howeve r de t a i l s may be i ncomple t e , f l ex ib l e , and evo lv ing . The en t r ep reneu r p romote s t he v i s i on w i th en thus i a s t i c pa s s ion . Wi th pe r s i s t ence and de t e rmina t i on , t he en t r ep reneu r deve lops s t r a t eg i e s t o change t he v i s i on i n to r e a l i t y . The en t r ep reneu r t ake s t he i n i t i a l r e spons ib i l i t y t o c ause a v i s i on t o become a succe s s . En t r ep reneu r s t ake p ruden t r i sk s . They a s se s s cos t s , ma rke t / cus tomer needs and pe r suade o the r s t o j o in and he lp . An en t r ep reneu r i s u sua l l y a pos i t i ve t h inke r and a dec i s i on make r .

Advantages o f Entrepreneursh ip

Eve ry succe s s fu l en t r ep reneu r b r i ngs abou t bene f i t s no t on ly fo r h imse l f / he r s e l f bu t f o r t he mun ic ipa l i t y , r eg ion o r coun t ry a s a who le . The bene f i t s t ha t c an be de r i ved f rom en t r ep reneu r i a l a c t i v i t i e s a r e a s f o l l ows :Enormous pe r sona l f i nanc i a l ga in

1 . Se l f - emp loymen t , o f f e r i ng more j ob s a t i s f ac t i on and f l ex ib i l i t y o f t he work fo r ce 2 . Employmen t fo r o the r s , o f t en i n be t t e r j obs 3 . Deve lopmen t o f more i ndus t r i e s , e spec i a l l y i n ru r a l a r ea s o r r eg ions d i s advan t aged by economic changes , f o r example due t o g loba l i s a t i on e f f ec t s 4 . Encou ragemen t o f t he p roce s s ing o f l oca l ma t e r i a l s i n to f i n i shed goods fo r domes t i c consumpt ion a s we l l a s f o r expo r t 5 . I ncome gene ra t i on and i nc r ea sed economic g rowth 6 . Hea l t hy compe t i t i on t hus encou rages h ighe r qua l i t y p roduc t s 7 . More goods and s e rv i ce s ava i l ab l e 8 . Deve lopmen t o f new marke t s 9 . P romot ion o f t he u se o f mode rn t e chno logy i n sma l l - s ca l e manufac tu r i ng t o enhance h ighe r p roduc t i v i t y 10 . Encou ragemen t o f more r e sea r ches / s t ud i e s and deve lopmen t o f mode rn mach ine s and equ ipmen t fo r domes t i c consumpt ion 11 . Deve lopmen t o f en t r ep reneu r i a l qua l i t i e s and a t t i t udes among po t en t i a l en t r ep reneu r s t o b r i ng abou t s i gn i f i c ancan t changes i n t he ru r a l a r ea s 12 . F r eedom f rom the dependency on t he j obs o f f e r ed by o the r s 13 . The ab i l i t y t o have g r ea t a ccompl i shmen t s 14 . Reduc t i on o f t he i n fo rma l e conomy 15 . Emig ra t i on o f t a l en t may be s t opped by a be t t e r domes t i c en t r ep reneu r sh ip c l ima t e

Be ing an en t r ep reneu r i s abou t more t han j u s t s t a r t i ng a bus ine s s o r two , i t i s abou t hav ing a t t i t ude and t he d r i ve t o succeed i n bus ine s s . A l l succe s s fu l En t r ep reneu r s have a s im i l a r way o f t h ink ing and pos se s s eve ra l key

pe r sona l qua l i t i e s t ha t make t hem so succe s s fu l i n bus ine s s . Succes s fu l en t r ep reneu r s l i ke t he amb i t i ous R i cha rd Branson have an i nne r d r i ve t o succeed and g row the i r bus ine s s , r a t he r t han hav ing a Ha rva rd Bus ine s s deg ree o r t e chn i ca l knowledge i n a pa r t i cu l a r f i e l d .

Al l succes s fu l en trepreneurs have the fo l l owing qua l i t i e s :

Inner Dr ive to SucceedEnt r ep reneu r s a r e d r i ven t o succeed and expand t he i r bus ine s s . They s ee t he b igge r p i c tu r e and a r e o f t en ve ry amb i t i ous . En t r ep reneu r s s e t mass ive goa l s f o r t hemse lve s and s t ay commi t t ed t o a ch i ev ing t hem r ega rd l e s s o f t he obs t ac l e s t ha t ge t i n t he way .

Strong Be l i e f in themse lve sSucces s fu l en t r ep reneu r s have a hea l t hy op in ion o f t hemse lve s and o f t en have a s t r ong and a s se r t i ve pe r sona l i t y . They a r e focused and de t e rmined t o a ch i eve t he i r goa l s and be l i eve comple t e ly i n t he i r ab i l i t y t o a ch i eve t hem. The i r s e l f op t im i sm can o f t en been s een by o the r s a s f l amboyance o r a r rogance bu t en t r ep reneu r s a r e j u s t t oo focused t o spend t oo much t ime t h ink ing abou t un -cons t ruc t i ve c r i t i c i sm .

Search for New Ideas and Innovat ionAl l en t r ep reneu r s have a pa s s iona t e de s i r e t o do t h ings be t t e r and t o improve t he i r p roduc t s o r s e rv i ce . They a r e cons t an t l y l ook ing fo r ways t o improve . They ' r e c r ea t i ve , i nnova t i ve and r e sou rce fu l .

Openness to ChangeI f some th ing i s no t work ing fo r t hem they s imp ly change . En t r ep reneu r s know the impor t ance o f keep ing on t op o f t he i r i ndus t ry and t he on ly way t o be ing number one i s t o evo lve and change w i th t he t imes . They ' r e up t o da t e w i th t he l a t e s t t e chno logy o r s e rv i ce t e chn iques and a r e a lways r eady t o change i f t hey s ee a new oppor tun i t y a r i s e .

Compet i t i ve by NatureSucces s fu l en t r ep reneu r s t h r i ve on compe t i t i on . The on ly way t o r e ach t he i r goa l s and l i ve up t o t he i r s e l f imposed h igh s t anda rds i s t o compe t e w i th o the r succe s s fu l bus ine s se s .

High ly Mot iva ted and Energe t i cEnt r ep reneu r s a r e a lways on t he move , f u l l o f ene rgy and h igh ly mo t iva t ed . They a r e d r i ven t o succeed and have an abundance o f s e l f mo t iva t i on . The h igh s t anda rds and amb i t i on o f many en t r ep reneu r s demand t ha t t hey have t o be mo t iva t ed !

Accept ing o f Cons truc t ive Cr i t i c i sm and Re jec t i onInnova t i ve en t r ep reneu r s a r e o f t en a t t he fo r e f ron t o f t he i r i ndus t ry so t hey hea r t he words " i t c an ' t be done" qu i t e a b i t . They r ead ju s t t he i r pa th i f t he c r i t i c i sm i s cons t ruc t i ve and u se fu l t o t he i r ove ra l l p l an , o the rwi se t hey w i l l s imp ly d i s r ega rd t he commen t s a s pe s s imi sm. A l so , t he be s t en t r ep reneu r s know tha t r e j e c t i on and obs t ac l e s a r e a pa r t o f any l e ad ing bus ine s s and t hey dea l w i th t hem app rop r i a t e l y .

True en trepreneurs are re source fu l , pas s ionate and dr iven to succeed and improveThey ' r e p ionee r s and a r e comfo r t ab l e f i gh t i ng on t he f ron t l i ne The g r ea t ones a r e r e ady t o be l aughed a t and c r i t i c i z ed i n t he beg inn ing because t hey can s ee t he i r pa th ahead and a r e t oo busy work ing t owards t he i r d r eam.