Course Outline
 

 

Introduction
  • Explains the goals of equity research involving holistic overview of the business and analyzing its qualitative and quantitative aspects
  • Provides an overview of the process of equity research and essential elements for equity research
  • Describes the different types of equity research such as private equity research, contra-investments etc
  • Describes the process flow in equity markets and its functioning
  • Describes the classification of stocks and various participants in the markets
  • Provides a brief overview of the motives and process involved in equity valuation
  • Describes the role of an analyst in the process of equity research and valuation
  • Describes the concept of alpha and its usage in performance evaluation of an investment
  • Explains the role of equity research in capital market
  • Illustrates the different approaches to equity research such as Top-Down-Bottom-Up approach, DCF, DDM, FCFF etc
Economic Analysis
  • Explains the need and advantages of economic analysis
  • Explains the need and importance of macro and macro economic analysis
  • Explains the inter-relationship between stock markets and macroeconomy
  • Explains the role of indices and indicators in the process of equity research
  • Explains the types of interest rates and their inter-relationship
  • Provides a brief overview of the fiscal and monitory policies
Corporate Finance
  • Explains the fundamentals of business finance, process involved in analysis and investment
  • Explains the scope, elements and objectives of financial management
  • Explains the functions of financial management and financial instruments
  • Explains the process involved in the financial evaluation of investments and marketable securities
  • Explains the concept of NPV and capital budgeting
  • Illustrates the concept of financial planning and financing decisions
  • Explains the concept of capital structure – corporate financing decisions, limits to the use of debt, valuation and capital budgeting for leveraged firms and dividend policy
Industry Analysis
  • Explains the competitive business strategies and their sources of evaluation such as the industry, firm and competitive reaction
  • Explains the various tools and policies in industrial analysis such as S-curve approach, SWOT analysis etc
  • Illustrates the Porter’s Five Force Analysis and Porter’s Generic Strategies
Company Analysis
  • Provides a brief understanding of the management system and overview of the steps involved in the process of business analysis
  • Explains the different types of financial statements and their interpretation
  • Explains the various sources of data collection for financial statements
  • Describes the process of financial statement analysis
  • Describes the Growth Rate Sustainability
  • Explains the process of cash flow valuation and the techniques of valuation
  • Explains the concept of Capital Asset Pricing Model (CAPM), assumptions of CAPM, problems of CAPM, concept of efficient frontiers etc
  • Explains the Arbitrage Pricing Theory (APT) Models, relationship of with CAPM, relation between APT and asset management
  • Provides a brief understanding of the role of competition and revenue drivers during company analysis
Valuation
  • Explains the fundamental concepts of equity valuation
  • Illustrates about the different types of valuation models such as Cash Flow Models, Asset Based Models, Relative Valuation and Option Based Models
  • Illustrates the various valuation techniques such as interpreting financial statement, cash flow statements, ratio analysis etc
  • Describes the process involved in forecasting and growth rate analysis
  • Describe the process and steps involved in preparation of research reports
Modeling
  • Explains in detail the purpose and application of Dividend Discount Models, Gordon Growth Model, Free Cash Flow Models, Relative Valuation Models and SOTP Valuation

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