Equity research Training Mumbai  Copy

Equity research Training Mumbai Copy

 

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About The Event

Equity research Training Mumbai on Nov -Dec 2014

Educba

 

India's Largest Online Training portal in education for Equity research Training. Here it is a matter of
pride to us to make job oriented hands on training available to anyone, anytime and anywhere.
Study at a time and place, and pace that is of your choice, and Plan your study to suit your
convenience and schedule.

 

Equity Research Methods

To carry out Equity Research analysis two methods are used namly

  • Fundamental Analysis
  • Technical Analysi

Equity research process comprises of multiple steps.

  1. Economic Analysis
  2. Understanding Industry or sector analysis
  3. Company Analysis for investment purpose
  4. Financial Statement Analysis of a Company
  5. Performing Financial and Valuation
  6. Writing Report showing the result of analysis
  7. Presentation or recommendation

 

Equity Research Training Approach

 

Our Equity Research training learn the detailed practical approach to Equity Research.  Below is the Equity Research Training outcome -

 

1. Prepare Equity Research Model (base)

 

  • Prepare a blank excel sheet with separate Income Statement, Balance Sheet and Cash Flows (starting 2003-04) and use neat formats (remember to use comma style etc and also the color coding)

 

  • Populate the historical financial statements (Income Statement, Balance Sheet, Cash Flows) and do the necessary adjustment for Non-recurring items (one-time expenses or gains).

 

  • Perform the Fundamental Analysis (Ratio Analysis) for Historical years (vertical analysis, horizontal analysis and trend analysis and calculate ROEs using Dupont).

 

2. Prepare Equity Research Financial Model

 

  • Forecasting of Income Statement (P&L) is most important for analysts. Hence, much of analyst’s time should be devoted on this. For this you need to read through the annual report and other documents to get a solid understanding of how the forecast should be done. It is advisable that one should read through other brokerage house research reports to understand how they have modeled sales numbers.

 

  • Please download annual reports as well as some other reports for peer groups.

 

  • Forecast the financial model for the case study. Please use simple assumptions at this stage since this will be your first ever model on any live company. The idea here should be to get the approach correct.

 

  • Balance the balance Sheet

 

3. Valuations

 

a. Discounted Cash Flows

 

  • Calculate FCFF as discussed in class and the handbook

 

  • Apply a suitable WACC post the calculation of the capital structure

 

  • Find the Enterprise Value of the Firm

 

  • Find Equity Value of the Firm after the deduction of Net Debt

 

  • Divide Equity Value of the Firm by the total number of shares to arrive at “Intrinsic Fair Value” of the company.

 

  • Do sensitivity analysis of WACC with Share Price

 

b. Relative Valuations

 

  • Identify the comparables based on the business, Market Capitalization and other filters

 

  • Identify the suitable valuation multiple to be used for this business.

 

  • Use the average valuation multiple to find the valuation of Pantaloon.

 

  • Suggest “Undervalued” or “Over-valued”.

 

4. Calculate Target Price

  • Based on DCF
  • Based on Relative Valuations
  • Recommend whether to “BUY” or “SELL”

 

Training Details:

Dates: Nov 24 - Dec 1 (8Days)

Course Fee:  $254

Location: Mumbai

 


For further assistance or queries,

Contact: Rajesh Dhnashire
Email ID: rajesh@cbacademy.in
Phone No: 9222287738