Summer Training Report on Fundamental AnalysisFellowBuddy.com
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Our Vision & Mission – Simplifying Students Life
Our Belief – “The great breakthrough in your life comes when you realize it, that you can learn anything you need to learn; to accomplish any goal that you have set for yourself. This means there are no limits on what you can be, have or do.”
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Summer Training Report on Fundamental AnalysisFellowBuddy.com
FellowBuddy.com is an innovative platform that brings students together to share notes, exam papers, study guides, project reports and presentation for upcoming exams.
We connect Students who have an understanding of course material with Students who need help.
Benefits:-
# Students can catch up on notes they missed because of an absence.
# Underachievers can find peer developed notes that break down lecture and study material in a way that they can understand
# Students can earn better grades, save time and study effectively
Our Vision & Mission – Simplifying Students Life
Our Belief – “The great breakthrough in your life comes when you realize it, that you can learn anything you need to learn; to accomplish any goal that you have set for yourself. This means there are no limits on what you can be, have or do.”
Like Us - https://www.facebook.com/FellowBuddycom
представление целых чисел в формате с фиксированной запятойtanamukina
информатика, 10 класс, Представление целых чисел в формате с фиксированной запятой, системы счисления, примеры решения задач, задачи для самоконтроля, решения
Industrial Marketing - A tool to develop ForexSanjeet Yadav
The present PPT briefly discuss the significance of Industrial Marketing in economic growth. The presentation specifically talks about Indian context & Indian trade with regards to multiple affecting forces.
The presentations describes the 1991 Liberalization Privatization Globalization(LPG) model of Indian economy. Following are the topics discussed in the ppt:
Reasons for implementing LPG
Definitions
Advantages
Disadvantages
Disinvestment Commission
Successful privatizations in India
FDI
MNCs
Effects
Market Research Report : Cardiac pacemaker market in india 2014 - SampleNetscribes, Inc.
For the complete report, get in touch with us at: info@netscribes.com
Abstract:
Netscribes latest market research report titled Cardiac Pacemaker Market in India 2014 analyses how the market for medical devices is gaining prominence within the healthcare sector in India and how cardiac devices has become an indispensable part of this sector. With a large number of people in India suffering from heart problems, and an even larger portion of the population being comprised of an elderly population that is susceptible to heart-related ailments, demand for devices such as cardiac pacemakers is expected to grow steadily. This in turn will aid in the growth of the market for pacemakers. With prices now being affordable and a large number of insurance schemes and payment schemes being available to patients, there is likely to be a healthier conversion of potential consumers to actual buyers.
Majority of the players operating in the market are foreign companies with only a handful of Indian companies managing to make an impression in the market. Stiff competition exists among these players. The technological advancements and added benefits being offered by the various companies will be the key differentiator between them and the determinant of who will be most successful in this market.
Coverage
Overview of cardiac pacemaker market in India and market size data over 2012 to 2018e
Analysis of the pricing of cardiac pacemakers
Export-import data of cardiac pacemakers
Qualitative analysis of market drivers, challenges, and key trends
Analysis of the competitive landscape and detailed profiles of major players
Table of Contents:
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
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Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
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Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
2. HISTORY OF STOCK BROKING
• During the 11th century-French began regulating and trading agricultural debts on behalf of the
banking community, creating the first brokerage system.
• In 1602-Dutch East India Company became the first publicly traded company
• In 1801- London Stock Exchange
• Then -Citigroup , Dutch, Morgan Stanley , Goldman Sachs
3. LEADING INDIAN PLAYERS
1. Motilal Oswal Securities: Terminals-7923, Sub Brokers-890
2. Angel Broking Limited: Terminals-5715, Sub Brokers-NA
3. Kotak Securities ltd: Terminals-4320, Sub Brokers-910.
4. Indiabulls: Terminals-2876, Sub Brokers-NA
5. Reliance Money: Terminals-2428, Sub Brokers-1494
6. Karvy Stock Broking Limited: Terminals-1700, Sub Brokers-19000.
7. Anand Rathi Securities Limited: Terminals-1527, Sub Brokers-320
8. Geojit: Terminals-627, Sub Brokers
9. IIFL (India Infoline): Terminals-173, Sub Brokers-173
10. ICICI Direct:
11. HDFC Securities:
12. SBI Capital:
13. HSBC:
14. Standard Char:
15. RELIGARE:
16. Sharekhan:
17. 5 Paisa:
18. Just Trade:
19. Ventura:
4. Numbers to Note:
• Total equity brokerage house : 189
• Total trading terminals : 144,346
• Total branches/ offices : 21,013
• Total employees :77,125
• Total annual revenue : Rs.100-105 bullion
• The top 10 companies holding more than two thirds (66%) of the total
terminals.(NEAT, BOLT and CTCL licenses)
• Approximately 85% broking houses entered in business in 1991-2000 (the financial
sector reforms)
5. INDUSTRY OVERVIEW
• The top 10 companies holding more than two thirds (66%) of the total terminals.
• Mumbai and Delhi account for the highest number of terminals with 26% and 15% share
respectively
• Around 11% of companies collectively have 19 subsidiaries in the overseas market.
• Around 74% agree about the need for a strong regulatory body for the broking industry.
• 24% of the companies have plans to raise capital over the next one year largely through
private placement and IPOs.
• Industry Gained momentum in terms of scope and scale.
• Competition in the broking space has intensified (increased very high) with entry of new firms
• Market experiencing rapid growth and financial integration gaining speed, the role of
intermediation will strengthen further
6. Western region has highest number of companies
• More than 50% companies, based in western India(Gujarat, Maharashtra and Dadra & Nagar Haveli)
• City-wise, Mumbai leads the pack with 41% companies, followed by Delhi, Kolkata,
Rajkot, Bangaluru and Surat.
7. COMPETITION
• Major foreign players
CLSA,
Morgan Stanley,
Merrill Lynch,
JP Morgan and ,
Credit Suisse
have around 70% of the market share,
• FIIs or foreign investors, which drive much of the Indian market, feel more
comfortable dealing with international partners. (foreign broking houses)
• In the next few years, even if the Indian market improves, the market share of foreign
players will increase to 80% because they have technology and clients on their side.
• Hopefully, the new sources of revenues will become big enough for Indian brokers to
stay in the game.
8. ADV & GROWTH RATE OF EQUITY BROKERAGE TURNOVER
Average daily volumes
2012- Rs 1.43 trillion
2013- Rs 1.65 trillion (increased by 15%)
Further expected to reach US$ 6535.7 billion till 2015
10. EQUITY MARKETS UPDATE FY 2012-13
Strong growth in overall market turnover:
• Equity derivative volumes grew by 19% .
Within the equity derivative segment, futures volumes continued their downward trend
and declined by 13% in FY12-13
while options volumes increased by a further 29%
• Cash volumes declining by 9%
• The domestic equity brokerage turnover increase of 16%
2013- Rs 356 trillion (increased by 16%)
2012- Rs 309 trillion
11. STOCK EXCHANGES OF INDIA
• Total Exchanges: 24
• Regional: 20
• National: NSE, BSE, OTCEI(Over the Counter Exchange of India Limited) , ISE(Inter-connected Stock Exchange )
12. volume Contribution from overall exchange volume
•2012-13=8%
•2011-12=10%
•2010-11=13%
Cash
market
volume
account
for
•2012-13=16%
•2011-12=22%
•2010-11=29%
Futures
market
volumes
account for
•2012-13=76%
•2011-12= 70%
•2010-11=65%
Options
volumes
account
for
• 2012-13=92%
•2011-12= 70%
•2010-11=65%
Deriva
tives
contribu
tion in
overall
exchang
e traded
volumes
14. CASH & DERIVATIVES VOLUME (Graph)
• 2013-Derivatives account for 92% of total volume, cash 8%.
• Within the Options segment, the index option based on NIFTY:
2012- Account for 96% of the total options volume
2013- Account for 93% of the total options volume (decrease by 3%)
16. INSTITUTIONAL PARTICIPATION IN INDISN EQUITIES:
• In 2012 the contribution of DII segment was only 40 to 50% of FII volumes
17. NUMBER OF TRADES IN CASH & DERIVATIVES SEGMENT
• Cash segment:
Number of trades declined by 17% (annualized)
Average trade size remained flat (Rs 18,950) compared to FY11-12 (Rs. 19,009 ).
• Derivative segment:
Number of contracts continued to increase by 14% (annualized)
Average trade size also increase by 4%
FY 2012-13: (Rs. 0.27 million) per trade
FY 2011-12: (Rs 0.26 million) per trade in
19. OVER VIEW OF INDIA COMMODITY MARKET
• As compared to global standards, where generally commodity markets are bigger than equity markets by
many folds, the Indian commodity market is yet to be developed.
• Currently regulations only allow only Indian corporate and agricultural houses to trade in the commodity
markets apart from the retail investors
• Other institutional investors (FII’S) are not allowed to participate in the Indian exchange based
commodity markets.
• The Union Budget 2013 have introduced the Commodity Transaction Tax of 0.01% on Non-agricultural
commodity futures, (similar to STT levied on equity futures transactions).
• Commodities broking revenue estimated at Rs 17-23 billion per annum FY 2012-13.
• Commodities market involve higher operating risk compared to equity markets
– Physical holding of the commodity at exchange warehouses
– liquidity is also low for some of the agricultural based commodities,
• The commodity segment is still in a developing stage in India and expected to grow in the long run.
20. COMMODITY EXCHANGE
• Total commodity Exchanges in India: 22
– Regional : 16
– National : 6
• The five National Commodity Exchanges contributed 99.76 % to the total value of
trade in the Commodity Futures Market.
• Commodity exchanges:
– MCX, Mumbai (85.63 %),
– NCDEX, Mumbai (11.56 %),
– ACE Derivatives and Commodity Exchange Ltd., Mumbai (1.35%),
– NMCE, Ahmedabad (0.73 %) and
– ICEX, Mumbai (0.49 %).
22. VOLUME GROWTH IN COMMODITY MARKET
China is one of the largest consumers of commodities.
Growth in Exchange traded commodity volumes stagnates after seeing healthy
growth for last couple of years
24. OVERVIEW OF CURRENCY MARKET
• Currency segment growing at a steady pace.
• Currency market turnover: Rs. 61.22 trillion, (decline by 18% on an annualized basis.)
• Currency Exchanges Market Share:
NSE: 58-63% (Market leader)
MCX-SX : 35-42%
• In terms of currency pairs traded:
USD-INR: accounts for more than 95% of overall trading with other three currency pairs
EURO-INR:
GBP-INR:
JPY-INR:
• Currency brokerage revenue:
Rs 4-5 billion (increase of 8-12% in 2013.)
27. The changes that have taken place in the broking industry
in the past five years
• Increase in derivative volume and particularly in Options.
• Brokerage rates are coming down.
• Large network of franchisee / branches of the brokers
• Increased focus on marketing by small brokers
• Commodity market is growing at much higher.
• Broking firms are well- equipped to manage the risk under highly volatile markets
28. INDUSTRY REVENUE
• Annual brokerage revenue: (Rs 100 - 105 billion), remains flat compared to FY 11-12.
Foreign brokerage houses: account for 66-75%
domestic brokerage houses: rest 25-36%
• Contribution of brokerage revenue to Indian broking house:
Equity : Have flat in 2013.
Commodity : Rs.17-23 billion 2013.
Currency : Rs.4-5 billion (increase of 8-12% in 2013.)
• Decline in cash volumes as well as the futures volume impacted overall
gross yield by 15-20% compared to FY 11-12.
29. DECLINING MARKET SHARE OF TOP 10 BROKING FIRM:
• 2012-13: Sharp decline in market share for the top-10 brokers while moderate
decline in the market share of the top-100 brokers.
30. PERFORMANCE UPDATE OF BROKING FIRM: FY12-13:
• Overall revenue remains flat in FY12-13 compared to FY 11-12
• RONW has been increased from 8.9% to 10.1%
31. COST INCOME RATIO
• Overall operating expenses declined by 7-8% in FY12-13
• In ICRA’s view, while brokers have cut costs aggressively, the scope for further cost rationalization
could be limited.
• Profitability as a percentage of total revenues improved to 15% in FY12-13 as compared to 13% in
FY11-12.
• Return to assets improved to 3.6% in H1FY12-13 from 3.3% in FY11-12.
34. EMPLOYEE BREAKUP
• Majority of the employees involved in marketing and trading activities.
• Around 58% of the total employee strength of around 54,000 is collectively involved in marketing
and trading activities.
• 1% of the employees are involved in research-related activities such as fundamental and technical
research and analysis.
35. Operating profit and net profit margins of large,
mid-size and small companies
Companies profit margin:
Large : 17% (approximately)
Medium : 9.5% (approximately)
Small : 10.5% (approximately)
36. MAJOR CHALLENGES TO INDIAN BROKERAGE INDUSTRY
• Changing technology and competition from foreigners is forcing most Indian broking firms to look for other
revenue sources
• Apart from Motilal Oswal, there is not a single listed broking company where the bulk of revenue comes from
pure broking.
• Motilal Oswal is the only exception. Around 70% of its revenues come from core broking,
• There are six listed broking firms, of which three (Edelweiss, IIFL and India-bulls) known as (NBFCs), where only
20% of the business comes from broking activities and the rest from lending, private equity or other fee-based
businesses like investment banking.
• IIFL had around only 29% of its revenues from broking (rest from lending and other fee-based activities)
• Edelweiss Financials, broking revenues now account for only 20% of the overall income, in 2007 was 60% .
• Yields from broking may fall further, to even 5 basis points (0.05 percent),
• In the next few years, even if the Indian market improves, the market share of foreign players will increase to 80%
because they have technology and clients on their side.
• The major concern of the brokerage industry in India is the low participation of Retail/small investors.
37. MAJOR CHALLENGES TO INDIAN BROKERAGE INDUSTRY(cont)
• In 2012-13 instead of reduction in cost by 7-8%, total capital market related earning remained
almost flat.
• Lack of big IPOs, low retail investor participation have effected broking companies income.
• Continuously declining brokerage rate
• The Union Budget 2013:
Introduced CTT (commodities transaction tax), on non-agriculture commodities futures trading and
Reduced (STT) on equity futures contracts to 0.01% from 0.017%,
• SEBI introduced Capp on brokerage commission fees: (2012)
cash segment: 12 basis points
F&O segment: 5 basis points ,,, for mutual funds.
38. Key factors for long term growth
• Technology will be one of the key growth drivers
• Quality and maturity of services
• Distribution networks
• Diversification of services
• Expertise and research
• Transparency
• Market integrity
39. Suggestion for strengthening Indian securities market
• As a strategic move, company should enter in to other businesses also, like
Credit
life insurance
Focus more on commodity and currency segment
• Increase financial flow to stock market
• Increase participation of domestic institutions
• Liberalize credit norms for retail investors
• Stepping up investors awareness programs
• More number of foreign institutions
• Introduction of more products
• Permission to open terminal in abroad
• The major growth driver of the Indian Equity Market are Favorable Demographic Profile, Strength in
Indian Economy.
40. Indian broking industry in the next few years
• Old troubles may continue to plague (Effect) the industry ahead.
• While brokers have cut costs aggressively, less scope for further cost cutting.
• Commodities and currencies have emerged as dependable sources of diversification.
• Competitive pressures will continue.
• Retail participation remains uncertain.
• ICRA revises its outlook on the sector to “Stable” from “Negative”.
• There is going to be substantial increase in the volume of commodity and currency segments.
• Broking houses need to upgrade the employees skill, tap the HNI segment by delivering wealth
management and financial planning services.
• There is likely to be increase in the demand by Indians for investment in foreign Equity markets to tap the
best possible returns available as well as to diversify the risk.
• Fund Management with the route of PMS will play a vital role to meet the requirement of different risk
profile of the investors, particularly HNIs.