A REPORT

ON
EQUITY RESEARCH ANALYSIS

BY
RIDDHI AGRAWAL
BCM 1902

AT
PUKHRAJ CAPITAL AND SHARE
BROKING PVT. LTD, NAGPUR

BSE INSTITUE LIMITED

18th & 19th FLOOR, P.J TOWER, DALAL
STREET
MUMBAI - 400001
(SEP,2021)
 ACKNOWLEDGEMENT

The internship opportunity that I got with Pukhraj Group was an excellent
chance for learning and professional development for me. Therefore, I consider
myself fortunate to have had the opportunity to be a part of such a wonderful
organisation.
The aim of this internship has been to study the practical aspect and implement
the knowledge I received during the course of BCM.I have complied this report
as a summary and conclusion that have been drawn from the internship
experience up till now.
I consider this internship’s fulfilment a significant achievement, and I will never
forget all the lessons I have learned during my tenure as an intern.
It's tough to name everyone who has aided me because there are so many and
the scope is so vast. The following are idealistic channels and new dimensions
in the accomplishment of this project that I would want to acknowledge. I'd like
to take this opportunity to express my gratitude to my mentor, Dr. Benugopal
Saha, for his moral support and guidance I'd also like to express my gratitude to
my project advisor, Prof. Rakesh Nair whose guidance and care made the
project successful Also, I would like to thank my supervisor Mukesh sir for his
constant support throughout the internship
Finally, I'd like to express my gratitude to everyone who directly or indirectly
assisted me in completing the project, particularly my parents and peers, who
have been supportive throughout my journey.
OFFER LETTER
 TABLE OF CONTENT

1 Acknowledgement 2
2 Offer letter 3
3 Executive summary 5
4 Industry overview 6
5 Company profile 8
6 Products and services offered 10
7 Job profile 11
8 Learnings 12
 EXECUTIVE SUMMARY

The report is based on partial fulfilment of summer internship as an equity

research intern at Pukhraj capital and share broking Pvt. ltd for the award of
degree of Bachelors in Capital Markets (BCM). The report starts on what the
company is all about, giving a brief overview about the same.

The report also consists of all the major findings that I have researched upon
through out the internship in detail.

Very, importantly it consists detailed research on fundamental analysis of

various industries and companies within that sector, analysis on various
research papers etc.
 INDUSTRY OVERVIEW

 What are Financial Markets –

The financial sector is made up of firms and institutions that offer financial
services to both commercial and retail customers. A significant element of this
industry generates mortgage and loan income, which appreciates in value as
interest rates fall.
The efficiency of the financial sector is critical to the economy's overall health.
The safer the country becomes, the stronger the economy becomes. A
weakening economy is usually accompanied by a poor financial sector.
Many individuals and the exchanges that operate on it associate the financial
sector with Dalal Street. However, in many developed economies, the financial
industry is a critical component. It consists of brokers, financial institutions, and
money markets, all of which provide essential services to keep Main Street
running on a daily basis.
 Classification of Financial Sector-
Banks, investment houses, insurance companies, real estate brokers, consumer
financing companies, mortgage lenders, and real estate investment trusts are all
part of the financial industry (REITs).
Financial institutions, banks, and non-banking financial institutions are all part
of the financial industry. Financial institutions provide financial services to its
members and clients. They are also known as financial intermediates since they
operate as a link between savers and borrowers.
Companies who all are in financial services industry, they can manage the
money of their clients. Financial advisers manage assets and provide advice on
behalf of clients in such businesses. They are unable to supply investments or
any other products directly; instead, they enable the transfer of funds between
savers and securities and other instrument providers.
Banks are financial intermediaries that offer money to lenders and take deposits
from them. They are heavily regulated in order to maintain market stability and
safeguard consumers.
Banks include:

 Public banks
  Commercial banks
 Central banks
 Cooperative banks
 State-managed cooperative banks
 State-managed land development banks

Non-banking financial institutions (NBFIs) are institutions that provide

financial services such as investment, risk pooling, and market brokering but are
not banks.

 Finance and loan companies

 Insurance companies
 Mutual funds
 Commodity traders

In terms of existing financial services organisations' healthy growth and new

market entry entities, India has a broad financial sector that is quickly
increasing. Commercial banks, insurance firms, financial non-banks,
cooperatives, pension funds, mutual funds, and other smaller financial
institutions are also part of the business.

However, India's financial industry is dominated by banks, with commercial

banks accounting for approximately 64% of the total assets of the financial
system. The Indian government has implemented a number of reforms to
liberalise, regulate, and improve the sector.

As we all know that the financial service sector is one of the most important
sectors that economy can have, in that case we can lead the world in terms of
earnings and equity market capitalization. There are large companies who all
are dominating this sector, but it also includes smaller companies which diverse
the range.
 COMPANY PROFILE

 Pukhraj Capital and Share Brokerage Pvt Ltd Motilal Oswal Financial
Services' Business Partner is a Private company founded on January 28,
1997. It is a non-government organisation that is registered with the
Registrar of Companies in Mumbai. It has a Rs. 5,000,000 authorised
share capital and a Rs. 3,200,000 paid up capital. Pukhraj capital and
share broking private ltd has been in the finance sector for the past 24
years and is still operational.

 Pukhraj Capital And Share Broking Pvt Ltd Has a Strong Team of
Professionals Who Are Highly Passionate And Committed. Pukhraj
Capital And Share Broking Pvt Ltd, backed by Motilal Oswal, has an
enabling ecosystem, strong value systems, robust products and processes,
and a mission to create wealth for its clients. A path to success that begins
with a strong commitment to ethics and ends with a commitment to
quality and an attitude of excellence.

 Pukhraj Group is a well-diversified financial services organisation that

provides a wide range of financial products and services, including stock
and derivatives brokerage, commodities brokerage, currency brokerage,
mutual funds, and PMS.

 Prashant Arun Pimpalwar, Harsh Prashant Pimpalwar are the company's

directors, and Prashant Arun Pimpalwar is a director in Indian companies,
according to the Ministry of Corporate Affairs. Mr. Prashant Pimpalwar
Execution & Passion Using Mosl's vision, solid research, and solid
advice, he has been able to not only create wealth for his clients, but also
a solid base of extremely satisfied customers.

 MOSL, situated in Mumbai, had 792,858 registered clients as of

December 31, 2013, and a network of 1,546 business locations run by its
business partners scattered across 519 cities and towns. In Vidarbha, the
Pukhraj Group has 11,300 clients and 33 franchisees.
 LOGO

PUKHRAJ CAPITAL AND SHARE BROKING

PVT.LTD

PUKHRAJ GROUP OFFICE

 SERVICES AND PRODUCTS OFFERED

 EQUITY: Equity is one of the market types on which company’s shares

are issued and traded on the stock exchange. It gives capital to a company
to grow business, and gives investors who are investing a part ownership
with the potential to realize gains in their investment for the future
performance of the company.

 DERIVATIVE: Derivative is nothing but a financial instrument whose

value is derived from a value of an underlying assets. The contract is set
between two or more parties and it can be traded on exchanges or OTC
(Over the Counter).

 CURRENCY: Currency comes under FOREX (Foreign Exchange)

Market. What they do is buy a currency of one country and sell it to
another country to make profit out of it. For example, you might buy
USD and sell INR or vice versa.

 MUTUAL FUNDS: Mutual funds is a type of financial markets. There is

a fund manager who collects all the money that he gets from the investors
and then pool the money that he collected from all the investors he gets.
They invest the money on stocks, bonds or other securities. It gives small
and individual investors gives an access to diversified it professionally
and managed portfolios at a price which is very low. Investors are the unit
holders of a mutual fund scheme.

 COMMODITY: Commodity is a market place where we can see buying,

selling or trading of primary products or raw materials. Commodities like
oil, gold, agricultural goods can be traded. In India MCX is the only
exchange where commodities are trading. We can buy it at spot price or
delivery at future price.

 PMS: It is a kind of service facility that can be offered by a portfolio

manager to give a required rate of return to the clients within the desired
level of risk. The portfolio can be mixed of stocks, fixed income,
commodities, real estate, other structural products and cash.
 Job Profile – Equity Research Intern

Equity research is the study of stocks, stock markets, their

movements, and the people who participate in them.
Equity research analysts forecast stock, business, and industry
performance and provide their estimates of stock valuations and
corporate performance.
An equity research intern's responsibilities can be classified into three
categories:
1. Collecting data and information
2. Analysing the data
3. Creating reports and presentations

1.Recognize the basics of the stocks, commodities and currency

markets.
2.Consider the risks and advantages of investing in stocks,
commodities, and currencies.
3.Identify the commodities market participants and their relative
duties.
4.Comprehensive knowledge of the international commodity market,
as well as economic statistics and intriguing financial markets.
5.Should increase the knowledge of financial markets.
6.Excellent time management, technical, and analytical skills are
required.
7.Procurement of new demat and trading accounts etc
8.To educate and advise individuals on investments decision.
9.Learning the importance of relationship between traders and clients
etc.
 LEARNINGS

 Studied the Orion lite (Software used by Motilal Oswal Financial

services) for trading in stock market - The online terminal of Motilal
Oswal is the orion software, which is amazing because the trading
execution is super-fast with a 1-second rate refresh. There are also many
benefits associated with the software, including advanced charting tools
that provide more than 40 technical indicators in a single scrip.

In the middle of a slew of intraday and MCX trading tools, MO Trader

Terminal is a godsend. Orion Lite is a cutting-edge trading platform with
incredible features
It provides wide access to the research conducted on behalf of Motilal
Oswal by professionals. It also gives consumers a lot of flexibility in
terms of customization.
It also enables users to adjust their portfolio's risk profile. It was also
designed to accept and execute commands in real time. This allows
customers to trade ahead of time without delay.
The Motilal Oswal trading app can be downloaded and installed on any
computer that runs Windows XP or above. As a result, the programme is
exceedingly compact.

Customized Alerts - You can configure alerts for when the price of a
certain stock passes a certain threshold, ensuring that you don't miss a
single opportunity to make a trade.

Advanced Watch List — On your Motilal Oswal orion lite, you can now
create several asset watch lists. You can make real time quotes of
different stocks, futures and options, currencies etc.

Derivative Chains - After selecting multiple expiry dates and strike

prices, Motilal oswal orion lite offers you access to several derivative
chains.

Smart review of your portfolio – if you want to review your portfolio and
makes any changes in it, it is recommended to check the integrated
portfolio restructuring report which displays all of your investments
across all segments.
• To examine and summarize a research report on Fundamental Analysis
Stock Valuation Strategy - got key insights from the paper such as In
order to evaluate the true value of a company, it normally starts with a
macroeconomic analysis, followed by a sector analysis, and finally
financial accounts. The balance sheet, income statement, cash-flow
statement, and notes to financial statements are the basic financial
statements used in the study of securities. For investors, creditors, and
suppliers, these financial statements are the most important source of
information.
When it is talking about financial indicators, it is important to choose
peer group. Peer group analysis is a method of establishing a benchmark,
however it is first necessary to select companies that execute the same
activity (which compete in the same markets, have similar assets, and
operate in similar ways). The first evidence of healthy fundamentals is
rising sales. Increased efficiency and profitability are reflected in rising
margins. It's also a good idea to see how the company compares to its
peers and competitors in the industry.

 To summarize and examine a research report on Equity investment

strategies a study on retail investors in India - Fundamental Analysis,
Technical Analysis, Random Walk, and Efficient Market Theory are some
of the theories, models, and approaches used in financial and investment
literature to assist in making profitable investment decisions. Institutional
investors, professional investment advisers, large-cap stockbroking firms,
security analysts, and technical investors all rely heavily on analytical
tools when making investing decisions. Because the bulk of retail
investors are impatient, inept, and unable to devote adequate time and
cash to the task, they are unable to make investment judgments using
such advanced analytical methods. The magnitude of each investor's
equity securities investment does not necessitate a lot of effort on their
side. They devote more time to obtaining money but very less to
managing their profits and investments. Various resources can provide
information on a variety of features essential for trading in equity
investments. Retail investors lack the knowledge and skills needed to use
advanced analytical tools to make investing decisions. They use relatively
easy and time-saving procedures to arrive at a judgement on whether or
not to invest in equities assets. Because all of the investors questioned
were educated and older, their personal judgement was found to be the
most important factor in making an investment decision.
 Fundamental Analysis - Fundamental analysis is a method of
assessing the intrinsic value of a stock The report includes financial data,
external variables, events, and industry trends aids in the prediction of
long-term market patterns. Qualitative research encompasses brand value,
management actions, the company's financial performance over time, and
other related elements. Quantitative: a purely numerical analysis that
evaluates the company's financial statements and derives the share price
from the findings.

 Fundamental Analysis of KCP Cement –

 Business Structure - KCP's cement industry is almost 60 years

old, with manufacturing units in Andhra Pradesh's Macherla and
Muktyala, with a captive supply of high-grade limestone and a
combined annual capacity of 4.3 million tonnes of India's finest
premium grade cement with interests in Cement, Heavy
Engineering, Sugar, Power and Hospitality. It has nine
manufacturing units in India and Vietnam, spread across several
geographies.
 Corporate Governance - KCP's corporate governance concept is
rooted in a long history of ethical governance procedures that were
applied long before they were required by compliance agencies.
Integrity, openness, accountability, and legal compliance are the
pillars of good governance, and they are embedded in the
company's rigorous business practices to ensure fair, ethical, and
responsible leadership at the Board and Management levels.
 Sustainability - Sustainability isn't just a company culture at KCP;
it's a way of life. We have always been committed, conscious, and
accountable to society; our profound dedication to social ideals has
always been centered on the environment and community building.
Our healthcare, infrastructure, environmental, social, cultural, and
educational programmed have had a beneficial impact on the lives
of everyone in our communities for decades. A few components of
our brand ethos have stayed consistent over time, and they have
always centered on delivering a safe, secure, and environmentally
sustainable society.
Our CSR activities have generally centered on developing
innovative new solutions and reworking the existing CSR
framework for inclusive growth while maintaining our core values,
ethics, and practices. The present focus of our CSR activities is on
 long-term sustainability and alignment with our business goals. At
KCP, we think that we can help communities achieve long-term
empowerment in the areas of education, healthcare, and
infrastructure.
 Ratios –
• Return on assets - This ratio shows how effectively a
company uses its assets to generate revenue. ROA for 2020
was – 0.55 and that of 2021 is 11which indicate the company
is able to make good use of its resources in order to generate
revenue.
• Return on Equity - This metric assesses a company's ability
to make profits from its shareholders' investments. ROE for
2020 was -1.44 and that of 2021 is 24.75 which is very good,
which indicates that the company's management team is
more efficient when it comes to employing investment
finance to expand the company's operations.
• Debt to equity – debt to equity for 2020 was 1.09and that of
2021 is 0.64 which is a good indication for the company that
means company has reduced its debt compared to its
previous years.
• Current Ratio - It asses the firms ability to meet its short
term liabilities. Current ratio in 2020 was 0.67and that of
2021 is 1.19 which is a good sign for the company as it
means a company is sufficiently liquid.
• Sales for 2021 has also increased from 1,424 to 1714 which
is a good sign for the company and operating profit margin
of the company has also increased from 14% to 23%.
Company was paying a tax of -47% in 2020 and in 2021
paying a tax of 25% which can also mean that company is
making a profit. Company is also paying a dividened of
16%.
• Debtors days has increased from 23 to 25 which is not so
good it which company is not able to collect money easily
from its debtors. Inventory days has decreased from 217 to
203.
• Lastly, the shareholding pattern promoters has increased
their holding in the company from 43.72% to 43.86% and
FII’s has increased their holding from 0.31% to 0.56%.
 Summarized and examined the annual report of sail - The growth of
India's steel sector is critical to the country's economic development.
Steel consumption is regarded as a barometer of economic progress. On
the world steel map, India holds a prominent role. Financial management
methods have become increasingly important in all areas of business. Any
company's performance is primarily determined by its financial
management methods, which begin with the acquisition of funds and
finish with their effective application. As a result, continual financial
analysis of financial status and performance is essential in order to take
corrective action in order to appropriately meet short- and long-term
requirements. Financial statements are the primary sources of financial
data from which financial planning and decision-making are conducted.

Steel Authority India Limited (SAIL) is a government-owned corporation

that was established in 1956 under the Indian Companies Act. SAIL is
India's largest steel manufacturer. It is a fully integrated iron and steel
producer that produces both basic and special steel for the building,
engineering, power, railway, automotive, and defence industries in the
United States, as well as for export. The Indian government controls
roughly 86 percent of SAIL's stock and has voting authority over the
corporation.

As of June 2021, company promoters held 65.00% stake in SAIL, with no

shares having been pledged. Mutual funds, on the other hand, reduced
their holdings by 0.08 percent. Mutual funds owned 5.59 percent of SAIL
as of June 2021.As of June 2021, institutional holdings in SAIL have
declined by 0.38 percent to 20.64 percent.

For the financial year ending March 2020, SAIL has not issued a
dividend. The dividend yield is 0.0 percent since the company has not
declared a dividend this year. Dividend yield compares the earnings
distributed to shareholders to the price of the stock. Over the last one
year, SAIL share price has moved up from Rs 39.5 to Rs 120.9,
registering a Gain of Rs 81.4 or around 206.1%.

It is very common for companies to go through ups and down in terms of

performance because of the impact of business cycle and other macro-
economic variables.
 Brief Analysis of Pharma Sector –
India is the world's fourteenth-largest value manufacturer and third-
largest volume producer of pharmaceuticals. The domestic
pharmaceutical sector is made up of 10,500 production units and 3,000
medicinal firms. India is the world's 12th largest exporter of medical
goods. The pharmaceutical sector accounts for 6.6 percent of the
country's overall merchandise exports. Indian pharmaceuticals are
exported to over 200 nations around the world, with the United States
being the most important market. In terms of volume, generic drugs
account for 20% of global exports, making the country the world's largest
supplier of generic medicines.

Over the next five years, India's medical spending is expected to increase
by 9-12 percent, making it one of the top ten countries in terms of
medical spending.
Better domestic sales growth in the future will be contingent on
companies' ability to orient their product portfolios toward chronic
therapies for diseases like cardiovascular, anti-diabetes, anti-depressants,
and anti-cancers, which are all on the rise.
The Indian government has taken a number of initiatives to cut costs and
lower healthcare costs. The entry of generic pharmaceuticals into the
market as quickly as possible has remained a priority, and it is likely to
help Indian pharmaceutical companies. Furthermore, the emphasis on
rural health programmes, life-saving medications, and preventive
immunizations bodes well for pharmaceutical firms.

The coronavirus outbreak and ensuing shutdown wreaked havoc on all

major sectors of the economy, but for India's pharmaceutical industry, it
turned out to be a gift in disguise. Despite the fact that several elements
of the pharmaceutical industry were affected, such as the supply chain
and the import of active medicinal ingredients from China, Covid-19
provided some opportunities in the industry, particularly in India.
As a result, despite COVID-19's lethal effect, it has a large positive
impact on India's healthcare system, pharmaceutical industry, and
research, as well as the rest of the world.
 • Comparison of Sun pharma with its peers

Ratios Sun pharma Dr. Reddy Cipla Median

Current ratio 1.45 2.40 3.79 2.40

Quick Ratio 1.07 1.78 2.64 1.78

Operating Profit 24% 18% 20% 20%

Margin

Net Profit Margin 16.71% 16.37% 17.75% 16.71%

Return on Assets 5.48% 10.10% 10.74% 10.10%

Return on Equity 8.54% 12.87% 12.38% 12.38%

 Brief Analysis of Steel Sector -
In 2019, India was the world's second-largest steel manufacturer, with
111.2 million tonnes (MT) produced. The rise of India's steel industry has
been spurred by domestic availability of raw materials such as iron ore
and low-cost labour. As a result, the steel sector in India has contributed
significantly to the country's manufacturing output.
With cutting-edge steel mills, India's steel sector is cutting-edge. It's
always been the goal to maintain older facilities up to date and improve
them to be more energy efficient.
Steel producers in India are divided into three categories: primary
producers, secondary producers and major producers

According to the 2017 National Steel Policy, 300 million tonnes of

production capacity will be available by 2030-31. Steel usage per capita
has risen from 57.6 kg to 74.1 kg over the last five years. By 2030-31, the
government wants to increase rural steel consumption from 19.6 kg per
capita to 38 kg per capita.
Steel consumption will expand by 7.2 percent in 2019-20 and 2020-21,
according to the Indian Steel Association (ISA).
India's very low per capita steel consumption, as well as the predicted
increase in demand due to expanded infrastructure construction and the
thriving automobile and railroads sectors, provide enormous opportunities
for expansion.

Impact of COVID-19 on the Steel Industry - Demand for Steel

Production Has Fallen Sharply During the Pandemic, steel production fell
by 1.4 percent compared to the same time the previous year. Despite the
fact that steel has been considered a vital sector in some nations, demand
for steel has plummeted as a result of the pandemic. Automotive
manufacture has been limited in an effort to slow the spread of COVID-
19, while declining energy prices have resulted in substantially decreased
demand from sectors such as oil and gas. As a result of the COVID-19
epidemic, several non-essential building projects have been delayed,
affecting steel demand as well. Several automakers, including Volvo,
Toyota, VW, Nissan, and Seat, have recently announced plans to reopen
factories and restart vehicle production in the European Union and the
United Kingdom, potentially increasing steel demand. There are also
signs that China, the world's largest metal consumer, is on the mend, with
semi-finished steel imports rising in the last two months.
 • Comparison of Sail with its peers

Ratios Sail JSW steel Tata Steel Median

Current ratio 0.69 0.80 0.81 0.80

Quick Ratio 0.36 0.51 0.52 0.51

Operating Profit 24% 30% 25% 25%

Margin

Net Profit Margin 5.57% 11.86% 20.97% 11.86%

Return on Assets 3.28% 6.29% 8.24% 6.29%

Return on Equity 8.85% 17.86% 15.03% 15.03%

• Brief Analysis of IT Sector -

 In comparison to the IT business, India's global sourcing market
continues to grow at a faster rate. India is the world's most popular
sourcing destination, with a market share of around 55 percent of the US$
200-250 billion global services sourcing industry in 2019-20.
In 2020, the IT industry will contribute for 8% of India's GDP. The
Indian IT industry is predicted to grow by 1.9 percent in FY21, reaching
US$ 150 billion in exports. In 2020, the IT industry will add 138,000 new
jobs. Thanks to rapid digitization and the IT industry's timely transition to
remote working environments, software exports by STPI's registered
units increased by 7% YoY, helping the industry maintain its growth
despite the coronavirus pandemic.

For IT organizations, India is the most preferred outsourcing destination

on the planet. After showing its ability to provide both on-shore and off-
shore services to global clients, India's best IT firms now have access to a
whole new world of opportunities thanks to developing technologies. By
2025, the industry is anticipated to be worth US$ 350 billion.

Following COVID-19, IT has become the most visible internal function,

with business and other functions expecting IT services and support like
never before. In the post-COVID-19 era, IT will genuinely become the
backbone of business." The COVID-19 problem has impacted businesses
all across the world, including in India.
Because many organizations are being forced to demand their employees
to work from home (remotely) due to public health concerns, the IT
industry is currently experiencing significant issues as a result of the
current economic slump As a result, many companies with global dealers
are losing a lot of money. Despite this, the IT business is predicted to
grow rapidly, from US$ 131 billion in 2020 to US$ 295 billion in the next
five years by 2025, compared to many other industries The key driver of
this industry's growth is increased demand for software and social media
platforms like as Google Hangouts, WhatsApp Video Call, Zoom, and
Microsoft Teams. All of these teleconferencing systems allow persons
under quarantine to stay in touch with their loved ones while also holding
conference calls and working. The economy will flourish as a result of
people's recognition of the value of the internet and technology in
keeping us safe and facilitating communication between doctors and the
general public during these emergencies.
• Comparison of Info bean with its peers
Ratios Infobean wipro Tech Median
Mahindra
Current ratio 6.61 2.50 3.36 3.36

Quick Ratio 6.61 2.50 3.36 3.36

Operating Profit 31% 24% 18% 24%

Margin

Net Profit Margin 28.71% 20% 14.30% 20%

Return on Assets 16.87% 15.30% 12.70% 15.30%

Return on Equity 18.68% 22.23% 16.94% 18.68%

• Learn basis of Technical Analysis-

 Technical analysis tells us about the movement of price and in that we
use that data to anticipate the future prices, basically tells that at which
price to buy.
At Pukhraj Capital I learned 3 things in technical analysis and they are:

1. Price Charts: As we all know that 3 main types of charts that is

used for technical analysis:

These three chart patterns are very common in technical analysis that you can
see above. Each of them represents the historical price action data of an assets.

a. Line Chart: It’s the graphical representation of prices of an assets and

it is the most basic chart pattern.

b. Bar Chart: It’s also known as OHLC chart pattern which represents
that the opening price of the stock, highs and lows of the stock and the
closing price of the stock.

c. Candlestick Chart: It’s the updated or maybe better version of Bar

chart and help traders to analyse the chart pattern, candlestick pattern,
trend of the stock and trend reversal moves.

2. Indicators: There are two types of indicators:

 • Leading Indicator: It is something that tells the future price of the
markets but the thing is there is no such indicator in the markets that have
been made.
• Lagging Indicator: This indicator is something that takes the
historical price data, studies the historical data and in that it helps to
predicts the future price of the assets by studying that data.
There are various kind of lagging Indicators some of them that I’ve
learned Pukhraj Capital is:

a. Moving Average: It is use for price data by creating a constantly

updated average price and we can use the specific period of time frame as
per our need. For example, 50 DMA it means that we are having an
average price of 50 days moving average. Moving Average anticipation is
very easy, if the price is above moving average price it means that the
particular stock or asset is in a bull run and if the price is less than
moving average then the market is in the bear run.

 Analysed DRHP of VLCC Health Care Limited-

VLCC is an Indian company that specialises in beauty and wellbeing.
• The IPO includes a fresh issuance of equity shares worth Rs 300
crore and an offer for sale of 89.22 lakh equity shares by the promoter
and existing shareholders.
The company may consider a pre-IPO placement of up to Rs 100
crore. Mukesh Luthra will sell up to 18.83 lakh equity shares, OIH
Mauritius Ltd would sell up to 18.97 lakh equity shares, and Leon
International will sell up to 52.42 lakh equity shares, according to the
OFS.
• The funds obtained from the new share offering will be used to open
VLCC Wellness Clinics in India and the Gulf Cooperation Council
(GCC) region, as well as VLCC Institutes.
• Proceeds will also be used to remodel existing VLCC Wellness
Clinics in India and the Gulf Cooperation Council region, as well as
for brand growth, investment in digital and information technology
infrastructure, and debt repayment.
• The firm's public offering will be advised by merchant bankers ICICI
Securities, DAM Capital Advisors, and IIFL Securities.
• According to a PTI report, Vandana Luthra and Mukesh Luthra
control 44.35 percent and 24.37 percent of the company, respectively,
while Leon International owns 13.65 percent and OIH Mauritius owns
5.04 percent.
The company served consumers at 310 locations in 143 cities throughout
12 countries in South Asia, Southeast Asia, the Gulf Cooperation Council
region, and East Africa as of March 2021.