ICFAI University - Security Analysis – I

 

Security Analysis – I

 

Risk and Return: Concept of Risk and Return – Reduction of Risk through Diversification – Quantifying Portfolio Returns and Risk – Measurement of Risk in Portfolio Context – Security Market Lines and its Applications.

Regulations of Financial Markets: Regulation of Financial Markets – Organization of Securities and Exchange Board of India (SEBI) – Functions and Powers of SEBI – Tax Aspects in Securities – Self-regulation of the Markets.

Equity Markets and their Structures: Markets and their Function – Liquidity Capital Formation – Evolution of the Equity Markets – Development of Securities Market in India – Security Market Indicators – Major Stock Exchanges – Integration of Stock Exchanges – Listing of Securities – Trading Procedure – Compulsory Demat – Clearing and Settlement Procedure.

Sources of Financial Information: Sources of Economic Data – Sources of Market Data – Sources of Company Data – Sources of International Economic Data.

Fundamental Analysis: Objectives and Beliefs of Fundamental Analysis – Framework for Fundamental Analysis – Concept of Intrinsic Value – Economic Forecasting Methods – Industry Analysis – Key Characteristics in an Industry Analysis – Industry Life Cycle – Business Cycle Analysis – Structural Analysis – Company Analysis.

Impact of Changes in Accounting Policies: Changes in Accounting Policies  – Depreciation – Valuation of Fixed Assets  – Foreign Exchange Transactions – Amortization of Preliminary and other Expenses – R&D Expenditure – Valuation of Inventory – Treatment of Gratuity  – Lease Accounting.

Equity Valuation Models: Valuation Methods – Dividend Discount Models – Measures of Relative Value – Price/Earnings Ratio – Price/Book Value Ratio – Price/Sales Ratio – Free Cash Flow Model to Equity Model – Quantitative Analysis – Value Added Concept  – Economic Value Added  –                Market Value Added – Evaluation of Security Analysis – Minority Interests and Discounts

Efficient Market Hypothesis: Concept of Efficiency of the Stock Markets – Forms of EMH – Empirical Tests of EMH in the Indian Market – Description of Tests of EMH.

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