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Engineering
EXECUTIVE SUMMARY
ON
Work Done in Equity Research
BY
SUYASH JAIN AND SHIVANGI JHALANI
These cash flows are used to prepare a discounted cash flow model. These models contain the
free cash flows for some projected years. These cash flows along with terminal value are
discounted to the current date. This price gives the net worth of the company which is later
used to find the intrinsic value of the company .The sensitivity and PE band analysis is done
to portray the price behaviour of the Stock.
The analysis of the sector and the company proves that, TTL could be the next thing in heavy
electrical equipment. There are various retinal for investing the company for a minimum
holding period of one year. The rationales of investing are:
1. Market Leader and Global Market Presence
2. Aftermarket to drive profitability
3. International Presence
4. Widening its Moat in aftermarket service.
However, capital expenditure and forex risk continues to be there with this stock. Still its a
very good avenue for investment.
Kotak securities has provided various opportunities to give me an understanding about the
markets and various aspects associated to the business.
1. Financial Modelling
2. Data Analysis
3. Financial Markets
4. Equity Derivatives
Research involves a lot of data sifting which may not always be readily
available.
Getting reliable sources is as much of a task as finding required data.
The databases available have taken up time and effort and need to be constantly