Distinguished Professor

Dr M Thiripalraju

Department of Commerce


  1. Capital Markets
  2. Risk Management in Financial Services
  3. Investment Management
  4. Regulating Capital Markets
  5. Mutual Funds



S. V. University
B Com


S V University
M Com


Indian Institute of Technology (IIT)


  • Professor and Director-Incharge, UTI Institute of Capital Markets, June 2004-
  • Chairman - Admission Committee
  • Chairman - Placement Committee
  • Professor and Dean, UTI Institute of Capital Markets, 1991-1997
  • Lecturer/ Assistant Professor / Associate Professor, NITIE, 1985-91

Research Interest

  • Market Micro-strucure Performance of Fund Management Risk Management Was member of Aemerican


International Publications (Refereed Journals)
  • “Intra-day Price Influence in Nifty Index Futures: Evidence from VAR and SVAR Models”, Asian-African Journal of Economics and Econometrics, Vol. 5, No. 2, 2005: 117-137, S. Amanulla and M. Thiripalraju.
  • “Does the Weekend Effect still persist in Stock Return? New Evidences from Indian Stock Market” Vikalpa, Vol. 2, April-June 2001, Indian Institute of Management, Ahmedabad, with Amanullah.
  • "Commodity Futures Prices In India: Evidence on Forecast Power, Price Formation and Inter-Market Feedback", Accounting and Business Review, Vol 7, January 2000, Thiripalraju, T.P. Madhusoodanan and Gouri Shankar Mishra.
  • "Selection of an Index for Stock Index Futures: The Indian Case", Advances in Pacific Basin Financial Markets Vol. V, Ed by Theodore Bos and Thomas A. Fetherston, 1999.
  • “Underpricing in Initial Public Offerings: The Indian Evidence”, Vikalpa, Vol. 22, No. 4, October-December 1997 - T.P. Madhusoodanan and M. Thiripalraju.
  •  ‘India, in Business Briefings: Emerging Market Investment’, World Markets Research Centre, London (1996) - M. Thiripalraju, K.G. Sahadevan and T. P. Madhusoodanan.
Articles (Published In Domestic Refereed Journals)
  • The Cost of Equity for Indian Banks : A CAPM Approach”, Volume No. XXXIX, No. 3, October - December 2010, PRAJNAN, NIBM, Pune, India.
  • “Modelling Volatility for the Indian Stock Market” Volume No. IX, No. 1, 2010, The ICFAI University Journal of Applied Economics.
  • “Index Futures: Volatility changes – Indian Case”, Vol.26, No.1, January-March 2002, Udyog Pragati- The Journal for Practising Mangers, M. Thiripalraju & Prabhakar R. Patil.
  • The CAPM and Week-end Effect: Do They Explain Return Variation in Indian Stock Market Efficiently? Volume No. XXX, No. 3, December 2001, PRAJNAN, NIBM, Pune, India.
  • “Trade Execution Cost of Equity Shares: A Case of The Stock Exchange- Mumbai”, The ICFAI Journal of Applied Finance, Volume No. 7. No. 1, April 2001, M. Thiripalraju.
  • Market Structure and Price Discovery of Commodity Futures in India: Evidence from Pepper and Castor Seed Part-II Empirical Analysis, M. Thiripalraju, T. P. Madhusoodanan and Gouri Shankar Mishra.
  • “Structure of Indian Secondary Capital Market: Critical Analysis”, Management and Accounting Research Journal, Vol. II, No. 1, January-March 1998, The Institute of Chartered Accountants of India, New Delhi - M. Thiripalraju and Gouri Shankar Mishra.
  • “Micro and Macro Forecasting Abilities of Indian Fund Managers”, Capital Markets Conference 1997 at UTI-ICM, Navi Mumbai - M. Thiripalraju and Prabhakar R. Patil. Appeared in a book “Indian Capital Market: Theory and Empirical Evidence, UTI-ICM and QUEST publications, 1998, Mumbai.
  • “Right Index for Stock Index Futures in India”, Management and Accounting Research Journal, Vol.1, No.1, The Institute of Chartered Accountants of India July- September, 1997.
  • “Construction and Maintenance of Index Funds”, Finance India, Indian Institute of Finance, Post Box 8486, Ashok Vihar II, Delhi - 110 052, India - M. Thiripalraju, T.P. Madhusoodanan and D. Sriram.
  • lection of an Index for Stock Index Futures : The Indian Case”, The ICFAI Journal of Applied Finance, Vol.3, 1997. - M. Thiripalraju, T. P. Madhusoodanan, K. Muralikrishna and P. Naveen.
  • Paradigm Shift in Trading of Equity Shares”, Chartered Secretary, October 1995.
  • Preferential Allotment of Securities in India : Some Issues”, Chartered Secretary, April 1995, M. Thiripalraju and B. Manjulatha.
  • “Money and Stock Prices - Some Empirical Evidence on their Lead-lag Relationship, Indian Journal of Finance and Research,  Vol.6(1), 1995, pp.11-29 - K. Sahadevan and M. Thiripalraju.
  • “Private Placement Market in India”, The ICFAI Journal of Applied Finance, Vol.1, No.1, January, 1995, pp.40-56, - K. G. Sahadevan and M. Thiripalraju.
  • “Do Shareholders Benefit by Rights and Bonus Issues of Mutual Funds”, Prajnan, Vol.XXVIII, No.3, 1994-95.
  • “Unofficial Premium in the Primary Market - Investment Strategies”, The Bombay Chartered Accountant Journal, 1993.
  • “Financial Innovations in the Indian Capital Market for the Last One Decade”. Finance India, Vol.VII, No.1, March 1993, Delhi, India.
  • “Speculative Stocks of 1993, Vol.7, No.1, January - February, 1993, Chartered Financial Analyst, Hyderabad, India.
  • “Deep Discount Bonds (DDBs) - Critical Analysis”, Vol.24, Part 7, October 1992 (1992-93) 24, BCAJ, The Bombay Chartered Accountant Journal, Bombay, India.This was adjudged as the best article of the year
  • “Recent Institutional Developments and Structural Changes in the Indian Capital Market”. Fourth Annual Pacific-Basin Finance Conference, Hong Kong, July 2, 1992.
  • “Changing Structure of Underwriting Business in India” Chartered Financial Analyst Vol.6, No.5, March - April 1992.
  • “Growth and Prospects for Private Placement Market in India”. The Chartered Accountant, January 1992.
  • Transfer of Stocks from non-specified list to specified list. Is there insider trading?, Thiripalraju.
  • “Warrants - Some Issue” Vol.XXI, No.2, 1992 Prajnan, NIBM, Pune. Project Appraisal with LOTUS 1-2-3, Management Accountant (ICWAI). Jointly authored with Prof. S. Ghosh.
  • “Economic Evaluation of Industrial Projects - Analysis of an Import Substitute Project”, Udyog Pragati, July - December, 1988.
  • ‘Mutual Funds - Data, Interpretation and Analysis’ - Prentice Hall of India, 1997 - Thiripalraju with K. G. Sahadevan.‘Mutual Funds - Factbook 1995’ - M. Thiripalraju with K. G. Sahadevan, Published by UTI-ICM.

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