Security Analysis Syllabus

Security Analysis
Course Code : SL FI 605 Sessions : 33

Credit : 3 Semester : III/IV
Objective
This course aims at providing students with an understanding of economy-industry-company analysis
and various inter linkages that influence the securities market. It enables them to establish the
valuable linkage between modern theories of finance and the analytical techniques used by investors
for valuing securities.
REFERENCE BOOKS AUTHOR / PUBLICATION

Security Analysis ICFAI
Portfolio Management ICFAI
Security Analysis and Portfolio Management, 6e Fischer, Donald E. / Jordan, Ronald J. Prentice-
Hall, India
Investment Analysis and Management, 6th e Sharpe et al. Prentice Hall India - 1998
Investment - Analysis and Management Clark, James Francis. McGraw Hill.
Fundamentals of Investment Hirt, Geoffrey A / Block, Stanley B.
Irwin/McGraw-Hill
Intelligent Stock Market Investing Yasaswy, N J. Vision Books Pvt. Ltd - 2008
Portfolio Management: Theory & Applications, Farrell, James L. Irwin/McGraw-Hill - 1996
2e
Essentials of Investments, 3e Bodie, Zvi et al. Irwin/McGraw-Hill
Damodaran on Valuation Damodaran, Ashwath. John Wiley
Detailed Syllabus Dematerialization of Shares-Listing of

Securities- Membership of Stock Exchange-
Investment Scenario – Concept of Investment Trading and Settlement Procedure- Stock
– Investment Objectives and Constraints- Market Indices- Regulation of Securities
Security and Non-security Forms of Investment Markets.
(including Investing in Life Insurance Schemes,
Small Saving Schemes and Bank Deposits, real Risk and Return - Total Risk and its Factors-
assets and real estate investments). Concept and Components of Total Risk-
Security Returns: Measuring Historical and Ex
Sources of Financial Information - Sources of Ante (Expected) Returns- Systematic and
Economic Data- Sources of Market Data- Unsystematic Risk- Quantifying Portfolio Risk
Sources of Company Data- Sources of and Return- Benefits of Diversification-
International Economic Data. Characteristic Regression Line -Capital Assets
Pricing Model.
Securities Markets - Markets and their
Functions- Methods of Raising Capital-Book Valuation of Fixed Income Investments - The
building Development of Stock Market in India- Strategic Role of Bonds- Bond Returns and
106
Prices- Systematic and Unsystematic Risk Futures - Definitions-Definition-Trading
involved in Fixed Income Securities- Present Mechanism - Difference between Futures and
Value Model and Bond Valuation- valuation of Forwards.
Tax- Sheltered Investments- Hedging for
Mutual Funds - Objectives of Mutual Funds-
Duration Shifts- Convexity- Bond Price
Organization and Management of Mutual
Volatility- term Structure of Interest Rates, Funds-Types of Mutual Funds-EFFs –Pros and
Warrants – Convertible Securities- Valuation of Cons of Mutual Funds- Guidelines for Mutual
Convertible Bonds. Funds.
Valuation of Equity Shares - Discount Models Current Developments
–The Dividend Discount model, H Model,
Operating Cash Flow, Free Cash Flow Model, Cases
Beta for levered and un-levered firm Relative  Derivatives Trading in India
Valuation Techniques EPS, P/E, P/CR, P/BV
and P/S. Dividend Capitalization models-  MRPL And RPL – Analyzing Risks and
Earnings Capitalization Models- Other Models. Returns
 Cost of Equity
Economic Analysis - Economic Forecasting
and Stock Investment Decision-Forecasting  The Google IPO
Techniques. Source: Case Studies in Finance Volume III
Industry Analysis - The Economy and the Suggested Schedule of Sessions
Industry Analysis- Key Characteristics in an
Industry Analysis- Industry Life Cycle- No. of
Topic
Structural Analysis- Techniques for Evaluating Sessions
Relevant Industry Factors- Sources of Investment Scenario 2
Information for Industry Analysis.
Sources of Financial Information 1
Company Analysis - Sources of Information- Securities Markets 2
Analysis of Financial Statements- Impact of
Changes in Accounting Policies- Sizing up the Risk and Return 3
Present Situation & Prospects- Management Valuation of Fixed Income 4
Evaluation- Forecasting Earnings. Investments, Warrants and
Convertibles
Technical Analysis (should be delivered with
suitable software like Metastock) - Theory of Valuation of Equity Shares 3
Technical Analysis- Dow Theory- Bar Charts- Economic Analysis 2
Point and Figure Charts- Contrary Opinion Industry Analysis 3
Theories- Relative Strength Analysis, Moving
Company Analysis 2
Average Analysis- MACD, Oscillator , Elliot
Wave theoryEvaluation of Technical Analysis. Comprehensive Case study for EIC 2
Analysis & Valuation of Equity
Efficient Market Theory - Fundamental and Share
Technical Analysis- Random Walk- Efficient
Market Hypothesis- Weak, Semi-Strong and Technical Analysis 4
Strong Forms of Efficiency- Empirical Test of Efficient Market Theory 2
EMH in the Indian Context. Options 1
Options - Definition, Rationale of Options- Put Futures 1
and Call Options- Determinants of Option Mutual Funds 1
Value -Valuation of Bonds with Put and Call
Total 33
Options.
107

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Security Analysis

Course Code : SL FI 605 Sessions : 33

REFERENCE BOOKS AUTHOR / PUBLICATION

Detailed Syllabus Dematerialization of Shares-Listing of

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