Equity Research and Valuation

Abstract

This is an internship report based on two months long internship that I have successfully completed in Ventura Securities Ltd in Equity Research and Valuation. It also involved a small macro project. This internship gave me practical experience of how companies are evaluated qualitatively as well as quantitatively. The report includes details about the company background, introduction of the industry it belongs to, services provided as well as competitive analysis of the company. In addition it includes details of the project, analysis of the research conducted as well as learnings. Capital market industry in India is highly influenced by economic as well as political aspects of the country and has evolved significantly over the years. Ventura Securities Ltd is a stock broking firm which is well established and has a wide range of customers and clients. It has evolved over the years in terms of providing services to the customers and adapting with upcoming technology. It is available on different platforms and is striving hard to make trading experience for customers seamless. The project assigned to me involved equity research and valuation of Balaji Amines Ltd which belongs to chemical sector. The need to perform this research was mainly to identify how firm belonging to chemical sector may perform in current scenario. As it is a well-established company, historical data was easily available and was extensively used for evaluation. Study involved performing a detailed analysis of company’s business and management as well as building financial model predicting future performance. The project concluded with results that the company has performed well over the years and people involved in management are capable of handling any adverse situations coming their way. This conclusion was backed by financial results which were also indicating positive future prospects. Working on this project gave me hand-on experience in the field of finance as it involved major concepts such as stock market, trading, financial modeling etc. This internship also gave me an introduction to the corporate world as it involved team discussions, regular presentations and final submissions with strict deadlines. This experience will surely add value to my career and help me perform better in future.