INTRODUCTION TO THE INDUSTRY
Early Years The equity brokerage industry in India is one of the oldest in the Asia region. India had an active stock market for about 150 years that played a significant role in developing risk markets as also promoting enterprise and supporting the growth of industry. The roots of a stock market in India began in the 1860s during the American Civil War that led to a sudden surge in the demand for cotton from India resulting in setting up of a number of joint stock companies that issued securities to raise finance. This trend was akin to the rapid growth of securities markets in Europe and the North America in the background of expansion of railroads and exploration of natural resources and land development. Historical records show that as early as 1864, there were about 1,000 brokers with the stock markets functioning from three places in Mumbai; between 9 am to 7 pm at the junction of Meadows Street and Rampart Row, from day break till 9 am and from 7 pm to early hours of next morning at Bazargate. Share prices rose sharply even at that time. A share of Colaba Land Company during the boom period of the 1860s rose from Rs 10,000 at par to Rs 120,000 and that of Backbay Shares went up from Rs 2,000 to Rs 54,000. Bombay, at that time, was a major financial centre having housed 31 banks, 20 insurance companies and 62 joint stock companies. Reports on stock markets around that time indicate that an ordinary broker in 1864 earned about Rs 200 per day, a huge sum in those days. The boom period came to an abrupt end in 1865. In Jul 1865, what was then used to be called the share mania ended with burst of the stock market bubble. ³Never I witnessed in any place a run so
widely distributed nor such distress followed so quickly on the heels of such prosperity´ thus wrote Richard Temple, who served as the Governor of Bombay at that time. An interesting aspect is that despite the collapse of the stock market, most of the brokers met their payment commitments. In the aftermath of the crash, banks, on whose building steps share brokers used to gather to seek stock tips and share news, disallowed them to gather there, thus forcing them to find a place of their own, which later turned into the Dalal Street. A group of about 300 brokers formed the stock exchange in Jul 1875, which led to the formation of a trust in 1887 known as the ³Native Share and Stock Brokers Association´. A unique feature of the stock market development in India was that that it was entirely driven by local enterprise, unlike the banks which during the pre-independence period were owned and run by the British. Following the establishment of the first stock exchange in Mumbai, other stock exchanges came into being in major cities in India, namely Ahmedabad (1894), Calcutta (1908), Madras (1937), Uttar Pradesh and Nagpur (1940) and Hyderabad (1944). The stock markets gained from surge and boom in several industries such as jute (1870s), tea (1880s and 1890s), coal (1904 and 1908) etc, at different points of time. Beginning of a new equity culture A new phase in the Indian stock markets began in the 1970s, with the introduction of Foreign Exchange Regulation Act (FERA) that led to divestment of foreign equity by the multinational companies, which created a surge in retail investing. The early 1980s witnessed another surge in stock markets when major companies such as Reliance accessed equity markets for resource mobilisation that evinced huge interest from retail investors. A new set of economic and financial sector reforms that began in the early 1990s gave further impetus to the growth of the stock markets in India. As a part of the reform process, it became imperative to strengthen the role of the capital markets that could play an important role in efficient mobilisation and allocation of financial resources to
the real economy. Towards this end, several measures were taken to streamline the processes and systems including setting up an efficient market infrastructure to enable Indian finance to grow further and mature. The importance of an efficient micro market infrastructure came into focus following the incidence of market abuses in securities and banking markets in 1991 and 2001 that led to extensive investigations by two respective Joint Parliamentary Committees. The Securities and Exchange Board of India (SEBI), which was set up in 1988 as an administrative arrangement, was given statutory powers with the enactment of the SEBI Act, 1992. The broad objectives of the SEBI include
to protect the interests of the investors in securities to promote the development of securities markets and to regulate the securities markets
The scope and functioning of the SEBI has greatly expanded with the rapid growth of securities markets in India in the last fifteen years. Following the recommendations of the High Powered Study Group on Establishment of New Stock Exchanges, the National Stock Exchange of India (NSE) was promoted by financial institutions with an aim to provide access to investors all over the country. NSE was incorporated in Nov 1992 as a tax paying company, the first of such stock exchanges in India, since stock exchanges earlier were trusts, being run on no-profit basis. NSE was recognized as a stock exchange under the Securities Contracts (Regulations) Act 1956 in Apr 1993. It commenced operations in wholesale debt segment in Jun 1994 and capital market segment (equities) in Nov 1994. The setting up of the National Stock Exchange brought to Indian capital markets several innovations and modern practices and procedures such as nationwide trading network, electronic trading, greater transparency in price discovery and process driven operations that had significant bearing on further growth of the stock markets in India. Faster and efficient securities settlement system is an important ingredient of a successful stock market. To speed the securities settlement process, The Depositories
Act 1996 was passed that allowed for dematerialisation (and rematerialisation) of securities in depositories and the transfer of securities through electronic book entry. The National Securities Depository Limited (NSDL) set up by leading financial institutions, commenced operations in Oct 1996. Regulations governing selection of various types of market intermediaries as depository participations were made. Subsequently, Central Depository Services (India) Limited promoted by Bombay Stock Exchange and other financial institutions came into being.
The last decade has been exceptionally good for the stock markets in India. In the back of wide ranging reforms in regulation and market practice as also the growing participation of foreign institutional investment, stock markets in India have showed phenomenal growth in the early 1990s. The stock market capitalization in mid-2007 is nearly the same size as that of the gross domestic product as compared to about 25 percent of the latter in the early 2000s. Investor base continued to grow from domestic and international markets. The value of share trading witnessed a sharp jump too. Foreign institutional investment in Indian stock markets showed continuous rise reaching about USD10 bn in each of these years between FY04 to FY06. Stock markets became intensely technology and process driven, giving little scope for manual intervention that has been the source of market abuse in the past. Electronic trading, digital certification, straight through processing, electronic contract notes, online broking have emerged as major trends in technology. Risk management became robust reducing the recurrence of payment defaults. Product expansion took place in a speedy manner. Indian equity markets now offer, in addition to trading in equities, opportunities in trading of derivatives in futures and options in index and stocks. ETFs are showing gradual growth. Within five years of introduction of derivatives, Indian stock markets now are ranked first in stock futures and fourth in index futures. Indian stock markets are transaction intensive and thus rank among the top five markets in this regard. Stock exchange reforms brought in professional management separating conflicts of interest between brokers as owners of the exchanges and traders/dealers. The demutualisation
and corporatisation of all stock exchanges is nearing completion and the boards of the stock exchanges now have majority of independent directors. Foreign institutions took stake in India¶s two leading domestic stock exchanges. While NYSE Group led consortium took stake in the National Stock Exchange, Deutsche Borse and Singapore Stock Exchange bought equity in the Bombay Stock Exchange Ltd.
AnandRathi (AR) is a leading full service securities firm providing the entire gamut of financial services. The firm, founded in 1994 by Mr. AnandRathi, today has a pan India presence as well as an international presence through offices in Dubai and Bangkok. AR provides a breadth of financial and advisory services including wealth management, investment banking, corporate advisory, brokerage & distribution of equities, commodities, mutual funds and insurance, structured products - all of which are supported by powerful research teams. The firm's philosophy is entirely client centric, with a clear focus on providing long term value addition to clients, while maintaining the highest standards of excellence, ethics and professionalism. AnandRathi (AR) with a presence in more than 350 locations across India and has offices in Dubai & Bangkok. AR provides wealth management services, investment banking, brokerage & distribution services in the areas of equities, commodities, mutual funds and insurance. The group caters to the financial needs of diversified group of clients, which include the well-reputed Corporate Groups, Institutions, Foreign Investors, Individuals as well as wealthy families and was recently ranked by an AsiaMoney 2006 poll amongst South Asia¶s top 5 wealth managers for the ultra-rich. In year 2007 Citigroup Venture Capital International joined the group as a financial partner.
1994: Started activities in consulting and Institutional equity sales with staff of 15 1995: Set up a research desk and empanelled with major institutional investors 1997:
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Introduced investment banking businesses Retail brokerage services launched 1999: Lead managed first IPO and executed first M & A deal 2001: Initiated Wealth Management Services 2002: Retail business expansion recommences with ownership model 2003: Wealth Management assets cross Rs1500 crores Insurance broking launched Launch of Wealth Management services in Dubai Retail Branch network exceeds 50 2004: Commodities brokerage and real estate services introduced Wealth Management assets cross Rs3000crores Institutional equities business relaunched and senior research team put in place Retail Branch network expands across 100 locations within India 2005: Real Estate Private Equity Fund Launched Retail Branch network expands across 200 locations within India 2006: AR Middle East, WOS acquires membership of Dubai Gold & Commodity Exchange (DGCX) Ranked amongst South Asia's top 5 wealth managers for the ultra-rich by Asia Money 2006 poll Ranked 6th in FY2006 for All India Broker Performance in equity distribution in the High Networth Individuals (HNI) Category Ranked 9th in the Retail Category having more than 5% market share Completes its presence in all States across the country with offices at 300+ locations within India 2007: Citigroup Venture Capital International picks up 19.9% equity stake Retail customer base crosses 200 thousand Establishes presence in over 450 locations
AR CORE STRENGTHS Breadth of Services
In line with its client-centric philosophy, the firm offers to its clients the entire spectrum of financial services ranging from brokerage services in equities and commodities, distribution of mutual funds, IPOs and insurance products, real estate, investment banking, merger and acquisitions, corporate finance and corporate advisory. Clients deal with a relationship manager who leverages and brings together the product specialists
from across the firm to create an optimum solution to the client needs.
AR brings together a highly professional core management team that comprises of individuals with extensive business as well as industry experience.
Our research expertise is at the core of the value proposition that we offer to our clients. Research teams across the firm continuously track various markets and products. The aim is however common - to go far deeper than others, to deliver incisive insights and ideas and be accountable for results.
Board Of Directors
Anand Rathi, Founder & Chairman A gold medalist Chartered Accountant and former President Bombay Stock Exchange (BSE). Key Executive of the Birla Group. The driving force behind the setting up of the Birla Group's Cement and Financial Services business among others. And in the setting up of the Online trading system and the Central Depository Services Ltd in India. With over 40 years in the industry.
Pradeep Gupta, Co-founder & Vice chairman With over twenty years experience in the securities market. Co-founder and key driver of the Retail and Institutional Equities business of the group.
Amit Rathi, Managing Director A rank holder Chartered Accountant and an MBA from Leonard N. Stern School of Business, New York University joined the group in 1998. He was instrumental in establishing the group's private wealth management and investment banking businesses. Calling him a 'financial guru', the Times of India group, listed Amit in 2008 amongst the top 51 young Marwaris in India (under the age of 40).
P G Kakodkar, Director Former Chairman of State Bank of India. Director in Financial Technologies (India). Director in Sesa Goa Ltd. Director in SBI Funds Management Pvt Ltd & the Multi Commodity Exchange of India Ltd and a M. A. in Economics
Dr. S A Dave, Director Former Chairman Securities & Exchange Board of India (SEBI) and Deputy Director of the RBI. Former Chairman Unit Trust of India (UTI). Member of General Committees of Government of India & Financial Reforms and Chairman CMIE 1998 till date. And a M. A. (USA) with Ph D in Economics
Formerly Secretary in the Union Ministry of Mines. Special Secretary & Additional Secretary in the Ministry of Coal. Resident Chief Information Commissioner -AP (Right to Information Act). Commissioner Civil Supplies (AP). Chairman & MD, APSEC. With a M .A. (History) and diploma Management & Administration of Rural Development (Birmingham, UK)
Managing Director Citi Venture Capital London Over 17 years experience with Citi. Joined CVC international in 2001. Worked on Strategy and business development for Citibank in CEEMEA region and managed Cash Management Business for Citi in Poland and India. B Tech (IIT Delhi) and an MBA (IIM
Key Business Heads
Ratnesh Kumar, Head ± Institutional Equities Previously MD & Equity Strategist & Head of India Research with Citigroup (8 years) and CLSA (4 years). Has 15 years India research experience. Led India research teams to #1 rankings in Institutional Investor polls in 5 out of last 9 years.
Rakesh Rawal, Head -Wealth Management Previously Vice President, Private Wealth Management, Deutsche Bank. With over 25 years career in Wealth Management, he has held key leadership roles in illustrious organisations like Hindustan Lever and Ranbaxy Laboratories. B Tech (IIT-Kanpur) and MBA (Finance) from JBIMS
Roy Rodrigues, Head -Investment Banking Previously Head -Investment Banking for India at Bear Stearns (New York).He also was Global Head of IT Services and BPO investment banking coverage. He has also spent four years with Arthur Anderson in Bombay (India). An MBA (Finance and International Business) from Stern School of Business, New York University. He is also a qualified Chartered Accountant and Cost Accountant.
Amandeep S Chahal Head ± Retail An MBA from Symbiosis, in his 14 years of work experience Aman has worked with Standard Chartered Bank National Sales Manager Capital Markets Retail and Regional Head Priority Banking. He has also worked with illustrious organizations as Citibank and Yes Bank amongst others. Prior to joining ARFSL in May 2006, he was the head of Yes Bank¶s retail operations in the North.
PRODUCTS OF AR
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Equity & Derivatives Mutual Funds Depository Services Commodities Insurance Broking IPOs
Equity & Derivatives
AnandRathi provides end-to-end equity solutions to institutional and individualinvestors. Consistent delivery of high quality advice on individual stocks, sector trends and investment strategy has established us a competent and reliable research unit across the country. Clients can trade through us online on BSE and NSE for both equities and derivatives. They are supported by dedicated sales & trading teams in our trading desks across the country. Research and investment ideas can beaccessed by clients either through their designated dealers, email, web or SMS.
AR is one of India's top mutual fund distribution houses. Our success lies in our philosophy of providing consistently superior, independent and unbiased advice to our clients backed by indepth research. We firmly believe in the importance of selecting appropriate asset allocations based on the client's risk profile. We have a dedicated mutual fund research cell for mutual funds that consistently churns out superior investment ideas, picking best performing funds across asset classes and providing insights into performances of select funds.
AR Depository Services provides you with a secure and convenient way for holding your securities on both CDSL and NSDL. Our depository services include settlement, clearing and custody of securities, registration of shares and dematerialization. We offer you daily updated internet access to your holding statement and transaction summary.
Commodities broking - a whole new opportunity to hedge business risk and an attractive investment opportunity to deliver superior returns for investors. Our commodities broking services include online futures trading through NCDEX and MCX and depository services through CDSL. Commodities broking is supported by a dedicated research cell that provides both technical as well as fundamental research. Our research covers a broad range of traded commodities including precious and base metals, Oils and Oilseeds, agricommodities such as wheat, chana, guar, guar gum and spices such as sugar, jeera and cotton.
In addition to transaction execution, we provide our clients customized advice on hedging strategies, investment ideas and arbitrage opportunities.
As an insurance broker, we provide to our clients comprehensive risk management techniques, both within the business as well as on the personal front. Risk management includes identification, measurement and assessment of the risk and handling of the risk, of which insurance is an integral part. The firm deals with both life insurance and general insurance products across all insurance companies. Our guiding philosophy is to manage the clients' entire risk set by providing the optimal level of cover at the least possible cost. The entire sales process and product selection is research oriented and customized to the client's needs. We lay strong emphasis on timely claim settlement and post sales services.
Our services :
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Risk Management Due diligence and research on policies available Recommendation on a comprehensive insurance cover based on clients needs Maintain proper records of client policies Assist client in paying premiums Continuous monitoring of client account Assist client in claim negotiation and settlement
We are a leading primary market distributor across the country. Our strong performance in IPOs has been a result of our vast experience in the Primary Market, a wide network of branches across India, strong distribution capabilities and a dedicated research team We have been consistently ranked among the top 10 distributors of IPOs on all major offerings.
Our IPO research team provides clients with indepth overviews of forthcoming IPOs as well as investment recommendations. Online filling of forms is also available.
AnandRathi is an established market leader in the exchange traded currencies in India, which delivers a consistent unparallel service and advice in the Rupee and other currencies. It offers various solutions to varied needs of the currency clients across the business segment. We offer complete hedging solutions to the end clients and help corporate in planning their remittances and receivables. You can be rest assured that we have all the capabilities of replacing your banker in your currency hedging needs. This offers an all new segment to the trading community, the recently opened Rupee/Dollar is an excellent instrument for the retail investors with less amount of margin (Low entry barrier), limited volatility, lower transaction costs and high transparency. We at AnandRathi, thrive to give you the best of advise and help you trade. With a single account you can trade Rupee/dollar on NSE and MCX-SX.
PRIVATE WEALTH MANAGEMENT (PWM)
Affluent individuals need sophisticated advice and strategic guidance to capitalize on opportunities to preserve, grow and transfer their wealth. In addition, a desire exists within
wealthy families to simplify the management of multigenerational needs and lessen the profound emotional impact of wealth on family members. AR offers the most extensive platform of customized servicing, individual strategies and products to help meet the requirements of the affluent private investor. We provide comprehensive, integrated investment strategies to address your wealth management needs. Working closely with specialists across firm PWM offers an array of products & services, which includes AR's highly-rated research.
We at expert ahead the
AnandRathi try and understand your financial needs; to offer you personal advice and analysis that you need to make your assets go the Xtra mile. Our ability to think far and formulate a long-term strategy, coupled with long hours of practice and research are key drivers, which make your wealth work harder for you.
We believe that the key to build wealth lies in allocating assets across various markets, financial instruments and industry sectors. Keeping this in mind we leverage our expertise in scientific asset allocation, to help you maximize returns and minimize risks.
We realize the need to simplify the complexities of the investment strategies and we achieve this by offering highly customized wealth management product - LaXmi TM (let your Assets go the Xtra Mile TM ) Our Personalized Relationship Managers along with the expert team of analysts and advisors will assist you in analyzing all your investment needs and advice you on specialized solutions created exclusively for you. We have a dedicated research team who constantly screens the market for investment prospects. The team provides support in fine-tuning the investment strategy & suggests how to capitalize on these opportunities.
The Institutional sales and trading team provides cutting edge market information and investment advice to clients, coupled with excellent execution capabilities. A highly experienced and reputed team of equity analysts supports the sales team. There is an extensive focus on research on companies, sectors and macro-economy. The institutional equity team tracks nearly 250 large and mid-sized companies to give clients an unparalleled breadth of ideas. We also provide Investment Advisory Services for institutional clients in India and overseas for investment in the Indian equity markets.
MANAGED INVESTMENT SERVICES
Portfolio Management Services (PMS)
AR Portfolio Management Service is a discretionary investment service created to meet the demand for more targeted investment styles and opportunities. It offers a range of specialized investment strategies designed to capture opportunities across the market spectrum. The range of products varies from the highly defensive, capital-protected to the most aggressive strategies in the equities and derivatives markets. Our investment process ensures that your strategy and portfolio are built on solid foundations. Together you and your relationship manager select the strategy in line with your individual goals. AR investment specialists then construct and manage your portfolio in accordance with the chosen investment strategy.
INSTITUTIONAL WEALTH MANAGEMENT
Corporate and Institutional treasuries need ever more sophisticated advice that is backed by serious and credible research. AR IWM provides its institutional clients integrated wealth management solutions across global markets, which are backed by proprietary global economic & investment research. We understand that your needs could range from finding short-term surplus management strategies to higher yielding and long term investments. The IWM team brings together the highly-rated AR research across fixed income, currencies and equities markets to provide investment solutions that meet your complex needs - from simple money-market mutual funds to complex arbitrage strategies in the equities or commodities markets.
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Equity & Derivatives Mutual Funds Depository Services Commodities Insurance IPOs
ACC Datamatics GE Shipping Godrej Goodlass Nerola Grasim Gujarat Ambuja Cements Bayer CenturyTextiles Clariant CRISIL Crompton Greaves Dabur Gujarat PipavavPort Heinz India Hindalco Hindustan Lever H&RJohnson IDFC Indian Rayon Jindal Group Larsen & Toubro Mastek Mahindra & Mahindra Raymonds Sterlite Group Syngenta Tata Iron & Steel Trent VSNL Wartsila
INVESTMENT BANKING AND CORPORATE
AR Investment Banking provides comprehensive services to clients including raising money in the equity capital markets to identifying strategic alliances, mergers and acquisition opportunities and debt financing & restructuring advisory.
The AR Corporate Finance team helps clients manage their debt-financing needs by profiling business and cash-flow risks, defining the alternative sources of funding , building in multiple variables such as currencies, fixed-floating, tenure, collateral etc. in a comprehensive manner and finally negotiating with the prospective lenders / buyers. The team has also built an impressive track-record in debt restructuring based on its superior understanding of business needs and relationships with key lenders. The Corporate Finance team has handled assignments in businesses like paper, hospitality, telecom, textiles and sugar.
Investment Banking : Merchant Banking
A highly experienced equity capital markets team, a pan-India distribution presence and a high level of quality and integrity in executing client's transactions has enabled us to provide tangible value to our clients' businesses. We bring quality independent advice and excellent execution capabilities to create landmark
transactions for clients. Our track record of successfully lead managed IPOs includes Tips Industries, Emami, HCL Infosystems and Provogue.
M&A, Private Equity
Our Mergers & Acquisition team works with clients in creating lasting stakeholder value through advice on mergers, acquisitions, divestitures and private equity financing. The team leverages on the firm's superior understanding of businesses and tax and regulatory environments as well as a deep network of relationships across the professional and corporate world. We have worked extensively with clients in industries like cement, sugar, chemicals, power and textiles for mergers and acquisition deals, valuation and business restructuring.
Corporate Finance :
Raising Cost-effective debt resources in Rupee and Foreign Currency for Projects, Working Capital and Specific needs. Financial Restructuring, CDR, OTS, Interest Cost Reduction, Long-term Corporate Loans for Working Capital Margins.
Financial products and services in hedging of interest and currency risks.
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Strong pan- India distribution network, with presence at over 130 locations across India. Leading distributor of equity related products including IPOs & mutual fund Have been consistently amongst the top 8 brokers, inspite of not being a lead manager. 50000 plus captive Institutional clients and HNIs Strong after market support
CORPORATE ADVISORY SERVICES
AnandRathi Advisors assists companies in realizing tangible improvements in various facets of
their businesses by providing a range of corporate advisory services that includes the entire gamut from financial, organisational and operational restructuring, to profit improvement and business turnaround strategies. Highly qualified and thoroughly professional, our specialists, experts and associates assist you in conceptualising problems and devising effective solutions, whatever be your need. Successful assignments undertaken for leading organisations in India as well as overseas bear ample testimony to our wide-ranging capabilities, utilising our unparalleled business know-how to give you the competitive edge. We have successfully handled various assignments under industry segments like refinery, cement, mining, power, paper, metals, airlines and optic fibre.
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Performance Improvement and Cost Reduction Business Strategy and Re-engineering Financial, Business & Organizational restructuring Business Turn-around Strategies Management Systems: MIS, Review & Control Mechanism
CROSS BORDER ADVISORY
Dynamic Orbits is the international interface of Anand Rathi Group, inter alia Dynamic Orbits is engaged in building strategic alliances, outsourcing contracts, contract manufacturing alliances, cross border joint ventures and cross border acquisitions.
Our research expertise is at the core of the value proposition that we offer to our clients. Research teams across the firm continuously track various markets and products. The aim is however common - to go far deeper than others, to deliver incisive insights and ideas and be accountable for results. AR research processes incorporate quantitative areas well as qualitative analyses. This multi-pronged approach helps us to provide superior risk- adjusted returns for our clients.
AR analysts provide objective and decisive research that is designed to enable clients to make informed investment decisions. The team covers entire spectrum of financial markets from equities, fixed income, and commodities to currencies. They also cover the global markets, to give clients an unparalleled macro-view of the investment opportunities across the globe.
BENEFITS WITH AR
Quick Information Get access to information about a company, its background, any relevant news about the company in recent times. Let yourself be well versed with information of whereabouts of the company, owners & people who make a difference to the business and with whom you are most likely to identify the company.
Company Details Get to know a company better in terms of key personnel related to its operations and its shareholding pattern. Get an insight as to the thought process behind the company¶s financing plans, the financing pattern followed by the company and the key personnel who are in control of the business.
Investor Information Access information about how often has the company declared Dividends, Bonus issues and how has it been performing as compared to other companies in its peer group. Assess how beneficial will be your investment in the company according to its history of dividends, bonus and peer group comparison. See which companies are performing better within the same industry circle and make an informed decision.
Corporate Announcements Be the first to know about any public announcement made by companies. Know the benefits that accrue to your investments before anyone else does. Read it first hand & take necessary actions accordingly. Take note of the board meetings held, resolutions made and critical corporate decisions affecting your investment and identity of the company you have invested in.
Financial Statements Analyze the financial wellbeing of a company, profits earned through its operations, cash flows during the year. Access the strength of a company in terms of financing its day to day operations, Fixed assets and its capability to take on future ventures successfully.
Key Ratios Evaluate the worth of your investments through the ratios that resemble the performance of a company. It is one of the easiest modes of performance comparison between companies. Compare the differences between standard ratios and actual ratios of the company that you want to invest into. Check what the tolerable level of disparity is
before its time for you to reconsider your investments in the company.
Results Access the latest company results posted on internet about any company of your choice. Be in touch with the results affecting your investments.