Why should I take Equity Research certification?
Equity analysts perform investment research and examine the financial condition of a company or a group of companies. Equity Analysts find employment in brokerage firms, financial KPOs, investment research firms, private equity firm/venture capital fund, portfolio management companies.
Learn & Master
- Economic Analysis
- Corporate Finance
- Industry Analysis
- Company Analysis Valuation
- Modelling
How will I benefit from Equity Research certification?
The course focuses on developing the necessary skills for the purpose of advising investors and financial institutions to make profitable investment decisions in the capital market by providing a brief overview of the global markets and an understanding of the stock market movements. The certification assesses the candidate’s qualitative and quantitative skills for stock evaluation, analyzing and interpretation of annual reports and the basic techniques of valuation.
Equity Research Table of Contents
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Equity Research Tutorial
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Equity Research Sample Questions
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Equity Research Practice Test
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Equity Research Analyst Interview Questions
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Equity Research Analyst Course Outline
Companies that hire Equity Research Analyst
Vskills certified candidates in Equity research will find employment in companies like Religare Securities Ltd, ICICI Direct, Aditya Birla Money Ltd, Kotak Securities Limited, HDFC Securities Limited, India Infoline Services.
Equity Research Related Blogs
Scope and Career Opportunities for Equity Research Analyst in 2022
10 Best Equity Research Online Courses and Certification in 2022
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Vskills Internships in Equity Research
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TABLE OF CONTENT
Chapter 1. Introduction
- Goals of Equity Research
- Elements of Equity Research
- Process of Equity Research
- Types of Research
- Classification of Stocks and Market Participants (Large/mid/small cap, growth vs value, sector classification (GICS))
- Concept of Equity Markets and Valuation
- Buy-side vs Sell-side Analyst (Roles & Responsibilities)
- Role of Equity Research in Capital Market
- Different Approaches of Equity Research (Top-down vs Bottom-up; Fundamental vs Quantitative vs Technical)
- Equity Research Report Structure (Initiation, Update, Sector Notes)
- Ethics, Compliance & SEBI Regulations for Research Analysts
Chapter 2. Economic Analysis
- Need and Advantages of Economic Analysis
- Inter-relationship between Stock Markets and Macroeconomy
- Leading, Lagging & Coincident Indicators (Nifty, BSE Sensex, IIP, PMI)
- Interest Rates
- Fiscal and Monetary Policy (RBI policy framework, Union Budget impact on markets)
- Inflation, GDP Growth & Business Cycle Analysis
- Currency & Commodity Impact on Equity Markets
- Global Macro Factors (FII/FPI flows, US Fed, crude oil)
Chapter 3. Corporate Finance
- Fundamentals of Business Finance, Analysis and Investment
- Time Value of Money & Risk-Return Tradeoff
- Investment Appraisal Techniques
- Financial Management
- Financial Evaluation of Investments
- Financial Decisions
- Capital Structure
- Capital Budgeting (NPV, IRR, Payback Period)
- Corporate Financial Planning
- Dividend Policy & Share Buybacks
- Working Capital Management & Free Cash Flow
Chapter 4. Industry Analysis
- Competitive Business Strategies
- Tools and Policies in Industrial Analysis (SWOT, PESTLE & Industry Life Cycle Analysis)
- Porter's Five Force Analysis and Generic Strategies
- Sector Analysis Frameworks (GICS sectors — IT, BFSI, Pharma, Auto, FMCG)
- Regulatory Environment & Government Policy Impact by Sector
- Supply Chain & Raw Material Analysis for Key Sectors
Chapter 5. Company Analysis
- Management Quality, Corporate Governance & Promoter Analysis
- Types of Financial Statements
- Sources of Data for Financial Statements
- Financial Statement Analysis
- Growth Rate Sustainability
- Operating vs Free Cash Flow Analysis
- Capital Asset Pricing Model (CAPM)
- Arbitrage Pricing Theory (APT)
- Understanding Competition and Revenue Drivers
- Ratio Analysis for Equity Research (P/E, EV/EBITDA, P/B, ROE, ROCE, Debt/Equity)
- Earnings Quality Assessment & Red Flags in Financial Statements
- Annual Report Reading: MD&A, Notes to Accounts, Auditor's Report
- Concall Analysis & Tracking Management Commentary
Chapter 6. Valuation
- Concept of Valuation
- Absolute vs Relative Valuation — Overview of Models
- Technique of Valuation
- Forecasting and Growth Rate Analysis
- Enterprise Value vs Equity Value Bridge
- Terminal Value — Gordon Growth Model vs Exit Multiple Method
- Comparable Company Analysis (Trading Comps)
- Precedent Transaction Analysis
- Price Target Derivation & Margin of Safety
Chapter 7. Modeling
- Discounted Cash Flow Valuation Model (2-stage and 3-stage DCF)
- Dividend Discount Models (DDM)
- Gordon Growth Model
- Free Cash Flow Models (FCFF & FCFE)
- Relative Valuation Models
- SOTP Valuation
- 3-Statement Financial Model Building (P&L, Balance Sheet, Cash Flow integration)
- Revenue & Cost Assumptions: Building a Bottom-up Forecast
- Sensitivity & Scenario Analysis in Equity Models
- Sector-specific Modeling (Banks: NII/NIM model; IT: revenue per employee; Pharma: pipeline model)
Chapter 8. Technical Analysis
- Introduction to Technical Analysis & its role in Equity Research
- Chart Patterns: Support, Resistance, Trend Lines
- Technical Indicators (RSI, MACD, Moving Averages, Bollinger Bands)
- Volume Analysis & Market Breadth Indicators
Chapter 9. Equity Research Report Writing
- Anatomy of an Equity Research Report (Executive Summary, Investment Thesis, Risks)
- Preparing Research Reports
- Writing an Investment Thesis: Bull, Bear & Base Case
- Buy / Hold / Sell Recommendation Framework
- Risk Identification & Risk-Reward Assessment
- Catalysts & Key Monitorables
