Onshore and offshore market for Indian Rupee: recent evidence on volatility and shock spillover

The paper empirically examines the onshore-offshore linkages of the Indian rupee using recently developed multivariate GARCH techniques. The empirical results show that offshore non deliverable forward (NDF) market does not have mean spillover impact on onshore spot, forward and futures market while shocks and volatilities in NDF market influence the onshore markets. The magnitude of volatility spillover from NDF to spot market, which was lower earlier, became higher after the introduction of currency futures in India. This is probably due to the fact that large arbitrage had taken place between futures and NDF market in recent past. Hence, the study suggests the close monitoring of both the onshore and offshore markets.Non deliverable forward, volatility spillover, multivariate GARCH

Analysing the Impact of Financial Ratios on a Company’s Financial Performance

This study was conducted to analyze the relationship between several chosen financial ratios and the financial performance of companies. Chosen financial indicators were Current Ratio, EPS, Firm size, Leverage Ratio and BV/MV Ratio. Financial performance of the companies was assessed through growth of the net profit margin. Ten companies which were registered in Colombo Stock Exchange which were categorized as diversified holdings were chosen as the sample. Financial data from 2013-2018 were considered for this study. A panel data analysis was used to determine the relationships between the independent variables and the dependent variables with given consideration to time series analysis and cross sectional analysis. According to the results of the study only current ratio, leverage and the firm size had significant relationships with the financial performance of the company. Current ratio and firm size positively impacted the company’s profitability, where as leverage impacted negatively. This study aims to enable informed decision making of the financial actors of an organization to enhance the profitability of the given organization

Observations on the mitotic rate in stratified squamous epithelium with special reference to diurnal variation

Mitotic activity was studied in the oesophageal epithelium of adult male rats and 20 day old foetuses with 'special reference to the diurnal variation and its relationship to the lighting conditions and the activity of the animals. The animals were kept in standard conditions and all factors liable to cause variation in the results were eliminated as far as possible.For the investigation of the problem, the animals were divided into ¿. groups. CONTROL GROUP: out of 36 rats of this group, 24 rats, of the first 2 series, were kept under natural lighting conditions and the 12 rats, of the 3rd series, were kept under artificial lighting conditions for a period of 90 days (light during the day and darkness during the night). REVERSED GROUP: 18 rats of this group, 12 rats of the 4th series and 6 rats of the 5th series, were exposed to light during the night and to darkness during the day for a period of 90 days. At the age of 120 to 130 days, the rats of all the 5 series were sacrificed, one from each series at 2- hourly intervals in the course of 24 hours, except series V where the interval was L. hours. The mitotic activity was expressed as the number of mitoses per section of the oesophagus (10/¹). INDIVIDUAL VARIATION GROUP: 12 rats, kept under natural lighting conditions, and 6 rats, kept under artificial lighting conditions, were sacrificed at a time when a high rate of mitosis was expected and the individual variation in the Mitotic activity was studied. FOETUS GROUP: 6 foetuses, from one pregnant female rat, were examined at 3- hourly inter - vals in a 24 -hour period, making 48 foetuses in all and the average mitotic activity was determined for each sample of 6 .foetuses. In addition, the mitotic activity was studied in the oesophageal epithelium of the pregnant female rats corresponding in time with each sample of foetuses.The important finding which emerged from the observations was that, in spite of considerable individual variation, there existed a clearly defined single cycle of mitotic activity in the oesophageal epithelium of the adult male rat. The observations indicated that, in the conditions in which the animals were kept, high mitotic activity tended to occur during the period of light when the body activity was low and low mitotic activity tended to occur during the period of ,darkness when the body activity was high. The period of high Mitotic activity varied from 10 to 12 hours and the period of low mitotic activity varied from 12 to 14 hours. The other important feature was that, with the reversal in the lighting conditions, the single cycle of the mitotic activity was completely reversed but maintained its position relative to the lighting conditions and the activity of the animals, similar to that observed in the control groups of experiments. The body activity was also reversed so that the period of high body activity continued to fall in the period of darkness. With regard to the exact nature of the relationship of the mitotic activity to the lighting conditions or the activity of the animals, two constant features were noticed in all series of experiments. Firstly, the rise in the mitotic activity :occurred 9 to 10 hours after the onset of darkness, secondly, the rise in the mitotic activity was closely associated with the primary fall in the body activity. It was believed that ,either one or both of these factors initiated the rise of the mitotic activity which, once raised, became independent of the lighting conditions and the activity of the animals and proceeded uninterruptedly for a constant period of 10 to 12 hours. 'In a general way, a high rate of mitosis was related to light and low body activity and a low rate of mitosis was related to darkness and high body activity. Such a relationship was more distinct in series II, IV and V where the duration of darkness was short and the period of high mitotic activity was confined to the period of light and associated with low body activity. As the duration of darkness increased, as in series I, a part of the period of high mitotic activity fell in the period of darkness and coincided with the secondary rise in the body activity. With a further increase in the duration of darkness, as in series III, half of the period of high mitotic activity fell in the period of darkness and coincided with a protracted secondary interval of high body activity. In the case of the foetus, there was no evidence of a diurnal variation in the mitotic activity. In contrast to this, the characteristic single cycle of the mitotic activity, similar to that in adult male rats, was present in the pregnant female rats from which the foetuses were obtained.The above observations were discussed with the findings of other workers and it was found that there was a fair agreement with regard to the relationship of high mitotic activity to the period of light and low body activity and of low mitotic activity to the period of darkness and high body activity. As regards the probable factor or factors responsible for the determination of the mitotic cycle, it was suggested that the onset of darkness or the primary fall in the body activity or both acted as a stimulus for the rise in the mitotic activity which, once raised, became independent of the )lighting conditions and the activity of the animals and continued for a constant period of 10 to 12 hours. Whatever was the factor which controlled the mitotic cycle in the oesophageal epithelium of the adult rat, it was ineffective in the case of the foetus

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Cost Economies for an Airline: An Analysis of Airlines’ Operating Costs

This study focuses on analyzing the variables affecting the average operating cost per aircraft movement. Since airlines around the world are operated on thin profit margins and with increasing competition from Low Cost Carriers it will be important for an airline to get a complete understanding about their operating cost structure. The aim of this study is to suggest an airline of actions to reduce their operating cost and will differentiate the cost structures of Low Cost Carriers and Full Service Carriers. This study was conducted for 20 airlines which were operating in Asia Pacific region. Published financial and statistical data were used for analysis and a parametric approach was used. The results of this study do not suggest economies of scale for the airline, which is to have higher number of aircraft to reduce cost

A study on prescribing patterns of antimicrobials in diabetic foot ulcer in a tertiary care hospital

Background: Diabetic foot ulcers (DFUs) are one of the most feared complications of Diabetes Mellitus (DM), which often become infected leading to complications like osteomyelitis, amputations and septicemia. There are scanty reports of data regarding the patterns and the cost analysis of antibacterial therapy to treat DFUs.Objectives: To study the prescribing pattern, approval status, inclusion in World Health Organization (WHO) essential medicines list/National List of Essential Medicines (NLEM) and rationality of antibacterials prescribed in the management of DFUs.Methods: Data was collected from records of 52 inpatients with a diagnosis of DFU from Saraswati Medical College, Unnao, U.P., India. The prescribing patterns, approval status, cost and listing of antibacterials in WHO essential medicines list/ NLEM were analysed. The data was presented as percentages, mean and standard deviations.Results: Among the 13 positive culture data, 10(77%) were gram negative in nature. Of the 155 antibacterial prescriptions analysed, single drug formulations were most commonly prescribed [109 (70.32%)]; 144 (92.90%) were approved by Drug Controller General of India (DCGI) and 135 (87.10%) by United States Food and Drug Administration (USFDA); 101 (65.16%) antibacterials were included in both WHO and NLEM; parenteral formulations were the commonly used dosage forms [97 (62.58%)]. The most common class of antibacterials prescribed were beta-lactams [Anatomical Therapeutic Chemical (ATC) class: J01C and J01D], both before and after culture and sensitivity (C/S) testing [79(63.2%) and 15(50%) respectively]. Only 16 (10.32%) drugs were prescribed by their generic names. The average cost per dose and the total cost during hospital stay for quinolones were Rs. 7.24, Rs. 92.95 and Rs. 416.97, Rs. 5539.06 for β-Lactams respectively.Conclusion: Gram negative organisms were most commonly isolated. Parenteral formulations were preferred over oral formulations and single drug formulations over fixed dose combinations (FDCS) in the management of DFUs. Beta-lactams comprised the major class of antibacterials prescribed before and after C/S testing. More than 80% of the antibacterials prescribed were approved by DCGI and USFDA and almost 60% were included in the WHO essential medicines list and NLEM. The average cost per dose and the total cost during hospital stay were highest for β-lactam antibacterials and least for quinolones. Key words: Prescribing patterns; Antibacterials; Diabetic foot ulce

Comparative assessment of morning versus evening dose of levothyroxine in hypothyroid patients

Background:Hypothyroidism denotes the pathological condition of thyroid hormone deficiency. If untreated, it can lead to various adverse health effects. Treatment with thyroxine replacement can mitigate the impact of hypothyroidism.Aims & Objectives:To compare the efficacy of morning versus evening dose of levothyroxine and To compare the effect of morning versus evening dose of levothyroxine on lipid profile. Materials and methods: This observational study was conducted at Saraswati Medical College, Unnao on 76 subjects with hypothyrodism. Result:There was no statistically significant difference in the changes in serum TSH and T4 level between patients taking evening dose of levothyroxine with those taking morning dose. Serum lipid profile over the 12 and 24 weeks period  has not shown any statistically significant difference.Conclusion:Evening schedule of Levothyroxine dose is as efficacious as morning dose in terms of thyroid profile and lipid profile. Hence, change of scheduling can be effected if needed to achieve better complaince. Keywords: Hypothyroidism,Thyroxine, Lipid profile, Metabolis

A Swarm Optimization Based Power Aware Clustering Strategy for WSNs

The technique of division of a wireless sensor network (WSN) into clusters has proved to most suitable for the reliable data communication inside the network. This approach also improves the throughput of the system along with other attributes such as rate of delivering data packet to the base station (BS) and overall energy dissipation of the sensor nodes in the network. This in turn results in the increased network lifetime. As the sensor nodes are operated by battery or some other source, this introduces a constraint in energy resource. Therefore, there is a strong need to develop a novel approach to overcome this constraint, since this phenomenon leads to the degradation of the network. The swarm intelligence approach is able to cope with all such pitfalls of WSNs. In this paper, we have presented a cluster-head (CH) selection technique which is based on swarm optimization with the main aim to increase the overall network lifetime. The proposed approach gives higher effects with regards to power utilization of nodes, data packets received at BS and stability period, and for this reason serves to be a higher performer as compared to Stable Election Protocol (SEP) and Enhance Threshold Sensitive Stable Election Protocol(ETSSEP). MATLAB simulation outcomes exhibit that the proposed clustering strategy outperforms the SEP and ETSSEP with regards to the above noted attributes