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Synopsis During the past one and a half decade the Indian capital market has discerned significant transformation and structural changes. This has been due to the ongoing economic reforms brought about by the Government of India since the early nineties. These reforms were primarily aimed at improving market efficiency, enhancing transparency and putting check on unfair trade practices so that the Indian capital market could move up to match the international standards. These changes in turn led to a major shift of focus of research concerning various issues of Indian capital market. This volume brings together a number of research papers which throw light on some of the issues related to the changing structure and character of the Indian capital market. The research papers included in the book excepting the one by Gupta and Gupta have been selected out of those presented at the First National Conference on Indian Capital Market: Emerging Issues organized by ICFAI business school, Gurgaon in association with the Association of Indian Management Schools in April, 2007 at IBS Gurgaon. It includes inter alia, research studies, focusing on the following four aspects: Market Efficiency and Anomalies. Asset Pricing. Derivatives. Mutual Funds. The papers have been contributed by well known academics and professionals. The book will be useful to academics and professionals alike, policy makers, research scholars, students perusing professional programs.