INTRODUCTION TO THE INDUSTRY

HISTORICAL BACKGROUND

Early Years

The equity brokerage industry in India is one of the oldest in the Asia region. India had
an active stock market for about 150 years that played a significant role in developing
risk markets as also promoting enterprise and supporting the growth of industry.

The roots of a stock market in India began in the 1860s during the American Civil War
that led to a sudden surge in the demand for cotton from India resulting in setting up of
a number of joint stock companies that issued securities to raise finance. This trend
was akin to the rapid growth of securities markets in Europe and the North America in
the background of expansion of railroads and exploration of natural resources and land
development.

Historical records show that as early as 1864, there were about 1,000 brokers with the
stock markets functioning from three places in Mumbai; between 9 am to 7 pm at the
junction of Meadows Street and Rampart Row, from day break till 9 am and from 7 pm
to early hours of next morning at Bazargate.

Share prices rose sharply even at that time. A share of Colaba Land Company during
the boom period of the 1860s rose from Rs 10,000 at par to Rs 120,000 and that of
Backbay Shares went up from Rs 2,000 to Rs 54,000. Bombay, at that time, was a
major financial centre having housed 31 banks, 20 insurance companies and 62 joint
stock companies.

Reports on stock markets around that time indicate that an ordinary broker in 1864
earned about Rs 200 per day, a huge sum in those days. The boom period came to an
abrupt end in 1865. In Jul 1865, what was then used to be called the share mania
ended with burst of the stock market bubble. “Never I witnessed in any place a run so
widely distributed nor such distress followed so quickly on the heels of such prosperity”
thus wrote Richard Temple, who served as the Governor of Bombay at that time. An
interesting aspect is that despite the collapse of the stock market, most of the brokers
met their payment commitments.

In the aftermath of the crash, banks, on whose building steps share brokers used to
gather to seek stock tips and share news, disallowed them to gather there, thus forcing
them to find a place of their own, which later turned into the Dalal Street. A group of
about 300 brokers formed the stock exchange in Jul 1875, which led to the formation of
a trust in 1887 known as the “Native Share and Stock Brokers Association”.

A unique feature of the stock market development in India was that that it was entirely
driven by local enterprise, unlike the banks which during the pre-independence period
were owned and run by the British. Following the establishment of the first stock
exchange in Mumbai, other stock exchanges came into being in major cities in India,
namely Ahmedabad (1894), Calcutta (1908), Madras (1937), Uttar Pradesh and Nagpur
(1940) and Hyderabad (1944). The stock markets gained from surge and boom in
several industries such as jute (1870s), tea (1880s and 1890s), coal (1904 and 1908)
etc, at different points of time.

Beginning of a new equity culture

A new phase in the Indian stock markets began in the 1970s, with the introduction of
Foreign Exchange Regulation Act (FERA) that led to divestment of foreign equity by the
multinational companies, which created a surge in retail investing. The early 1980s
witnessed another surge in stock markets when major companies such as Reliance
accessed equity markets for resource mobilisation that evinced huge interest from retail
investors.

A new set of economic and financial sector reforms that began in the early 1990s gave
further impetus to the growth of the stock markets in India. As a part of the reform
process, it became imperative to strengthen the role of the capital markets that could
play an important role in efficient mobilisation and allocation of financial resources to
the real economy. Towards this end, several measures were taken to streamline the
processes and systems including setting up an efficient market infrastructure to enable
Indian finance to grow further and mature. The importance of an efficient micro market
infrastructure came into focus following the incidence of market abuses in securities
and banking markets in 1991 and 2001 that led to extensive investigations by two
respective Joint Parliamentary Committees.

The Securities and Exchange Board of India (SEBI), which was set up in 1988 as an
administrative arrangement, was given statutory powers with the enactment of the SEBI
Act, 1992. The broad objectives of the SEBI include

 to protect the interests of the investors in securities

 to promote the development of securities markets and to regulate the securities

markets

The scope and functioning of the SEBI has greatly expanded with the rapid growth of
securities markets in India in the last fifteen years.

Following the recommendations of the High Powered Study Group on Establishment of

New Stock Exchanges, the National Stock Exchange of India (NSE) was promoted by
financial institutions with an aim to provide access to investors all over the country. NSE
was incorporated in Nov 1992 as a tax paying company, the first of such stock
exchanges in India, since stock exchanges earlier were trusts, being run on no-profit
basis. NSE was recognized as a stock exchange under the Securities Contracts
(Regulations) Act 1956 in Apr 1993. It commenced operations in wholesale debt
segment in Jun 1994 and capital market segment (equities) in Nov 1994. The setting up
of the National Stock Exchange brought to Indian capital markets several innovations
and modern practices and procedures such as nationwide trading network, electronic
trading, greater transparency in price discovery and process driven operations that had
significant bearing on further growth of the stock markets in India.
Faster and efficient securities settlement system is an important ingredient of a
successful stock market. To speed the securities settlement process, The Depositories
Act 1996 was passed that allowed for dematerialisation (and rematerialisation) of
securities in depositories and the transfer of securities through electronic book entry.
The National Securities Depository Limited (NSDL) set up by leading financial
institutions, commenced operations in Oct 1996. Regulations governing selection of
various types of market intermediaries as depository participations were made.
Subsequently, Central Depository Services (India) Limited promoted by Bombay Stock
Exchange and other financial institutions came into being.

Rapid Growth

The last decade has been exceptionally good for the stock markets in India. In the back
of wide ranging reforms in regulation and market practice as also the growing
participation of foreign institutional investment, stock markets in India have showed
phenomenal growth in the early 1990s. The stock market capitalization in mid-2007 is
nearly the same size as that of the gross domestic product as compared to about 25
percent of the latter in the early 2000s. Investor base continued to grow from domestic
and international markets. The value of share trading witnessed a sharp jump too.
Foreign institutional investment in Indian stock markets showed continuous rise
reaching about USD10 bn in each of these years between FY04 to FY06. Stock
markets became intensely technology and process driven, giving little scope for manual
intervention that has been the source of market abuse in the past. Electronic trading,
digital certification, straight through processing, electronic contract notes, online broking
have emerged as major trends in technology. Risk management became robust
reducing the recurrence of payment defaults. Product expansion took place in a speedy
manner. Indian equity markets now offer, in addition to trading in equities, opportunities
in trading of derivatives in futures and options in index and stocks. ETFs are showing
gradual growth. Within five years of introduction of derivatives, Indian stock markets
now are ranked first in stock futures and fourth in index futures. Indian stock markets
are transaction intensive and thus rank among the top five markets in this regard. Stock
exchange reforms brought in professional management separating conflicts of interest
between brokers as owners of the exchanges and traders/dealers. The demutualisation
and corporatisation of all stock exchanges is nearing completion and the boards of the
stock exchanges now have majority of independent directors. Foreign institutions took
stake in India’s two leading domestic stock exchanges. While NYSE Group led
consortium took stake in the National Stock Exchange, Deutsche Borse and Singapore
Stock Exchange bought equity in the Bombay Stock Exchange Ltd.

COMPANY PROFILE

AnandRathi (AR) is a leading full service securities firm providing the entire gamut of financial
services. The firm, founded in 1994 by Mr. AnandRathi, today has a pan India presence as well
as an international presence through offices in Dubai and Bangkok. AR provides a breadth of
financial and advisory services including wealth management, investment banking, corporate
advisory, brokerage & distribution of equities, commodities, mutual funds and insurance,
structured products - all of which are supported by powerful research teams.

The firm's philosophy is entirely client centric, with a clear focus on providing long term value
addition to clients, while maintaining the highest standards of excellence, ethics and
professionalism. AnandRathi (AR) with a presence in more than 350 locations across India and
has offices in Dubai & Bangkok. AR provides wealth management services, investment banking,
brokerage & distribution services in the areas of equities, commodities, mutual funds and
insurance. The group caters to the financial needs of diversified group of clients, which include
the well-reputed Corporate Groups, Institutions, Foreign Investors, Individuals as well as
wealthy families and was recently ranked by an AsiaMoney 2006 poll amongst South Asia’s top
5 wealth managers for the ultra-rich.

In year 2007 Citigroup Venture Capital International joined the group as a financial partner.

 Milestones

 1994:
Started activities in consulting and Institutional equity sales with staff of 15
 1995:
Set up a research desk and empanelled with major institutional investors
 1997:
Introduced investment banking businesses
Retail brokerage services launched
 1999:
Lead managed first IPO and executed first M & A deal
 2001:
Initiated Wealth Management Services
 2002:
Retail business expansion recommences with ownership model
 2003:
Wealth Management assets cross Rs1500 crores
Insurance broking launched
Launch of Wealth Management services in Dubai
Retail Branch network exceeds 50
 2004:
Commodities brokerage and real estate services introduced
Wealth Management assets cross Rs3000crores
Institutional equities business relaunched and senior research team put in place
Retail Branch network expands across 100 locations within India
 2005:
Real Estate Private Equity Fund Launched
Retail Branch network expands across 200 locations within India
 2006:
AR Middle East, WOS acquires membership of Dubai Gold & Commodity Exchange
(DGCX)
Ranked amongst South Asia's top 5 wealth managers for the ultra-rich by Asia Money
2006 poll
Ranked 6th in FY2006 for All India Broker Performance in equity distribution in the
High Networth Individuals (HNI) Category
Ranked 9th in the Retail Category having more than 5% market share
Completes its presence in all States across the country with offices at 300+ locations
within India
 2007:
Citigroup Venture Capital International picks up 19.9% equity stake
Retail customer base crosses 200 thousand
Establishes presence in over 450 locations

AR CORE STRENGTHS

Breadth of Services
In line with its client-centric philosophy, the firm offers to its clients the entire spectrum
of financial services ranging from brokerage services in equities and commodities,
distribution of mutual funds, IPOs and insurance products, real estate, investment
 banking, merger and acquisitions, corporate finance and corporate advisory.

Clients deal with a relationship manager who leverages and brings together the product
specialists from across the firm to create an optimum solution to the client needs.

Management Team
AR brings together a highly professional core management team that comprises of
individuals with extensive business as well as industry experience.

In-Depth Research
Our research expertise is at the core of the value proposition that we offer to our
clients. Research teams across the firm continuously track various markets and
products. The aim is however common - to go far deeper than others, to deliver
incisive insights and ideas and be accountable for results.

Board Of Directors
Anand Rathi, Founder & Chairman

A gold medalist Chartered Accountant and former President Bombay

Stock Exchange (BSE). Key Executive of the Birla Group. The driving  
force behind the setting up of the Birla Group's Cement and Financial
Services business among others. And in the setting up of the Online
trading system and the Central Depository Services Ltd in India. With
over 40 years in the industry.
 

Pradeep Gupta, Co-founder & Vice chairman  

With over twenty years experience in the securities market. Co-founder

and key driver of the Retail and Institutional Equities business of the
group.
 

Amit Rathi, Managing Director

A rank holder Chartered Accountant and an MBA from Leonard N.

Stern School of Business, New York University joined the group in  
1998. He was instrumental in establishing the group's private wealth
management and investment banking businesses. Calling him a
'financial guru', the Times of India group, listed Amit in 2008 amongst
the top 51 young Marwaris in India (under the age of 40).
 

P G Kakodkar, Director

Former Chairman of State Bank of India. Director in Financial  

Technologies (India). Director in Sesa Goa Ltd. Director in SBI Funds
Management Pvt Ltd & the Multi Commodity Exchange of India Ltd and
a M. A. in Economics
 

Dr. S A Dave, Director

Former Chairman Securities & Exchange Board of India (SEBI) and

 
Deputy Director of the RBI. Former Chairman Unit Trust of India (UTI).
Member of General Committees of Government of India & Financial
Reforms and Chairman CMIE 1998 till date. And a M. A. (USA) with Ph
D in Economics
 

C.D.Arha,Director

Formerly Secretary in the Union Ministry of Mines. Special Secretary &

 
Additional Secretary in the Ministry of Coal. Resident Chief Information
Commissioner -AP (Right to Information Act). Commissioner Civil
Supplies (AP). Chairman & MD, APSEC. With a M .A. (History) and
diploma Management & Administration of Rural Development
(Birmingham, UK)
 
 Ajit Bhushan,Director

Managing Director Citi Venture Capital London Over 17 years  

experience with Citi. Joined CVC international in 2001. Worked on
Strategy and business development for Citibank in CEEMEA region
and managed Cash Management Business for Citi in Poland and India.
B Tech (IIT Delhi) and an MBA (IIM Ahmedabad)
 
Key Business Heads
 

Ratnesh Kumar, Head – Institutional Equities

Previously MD & Equity Strategist & Head of India Research with Citigroup (8
years) and CLSA (4 years). Has 15 years India research experience. Led India
research teams to #1 rankings in Institutional Investor polls in 5 out of last 9
years.
 

Rakesh Rawal, Head -Wealth Management

Previously Vice President, Private Wealth Management, Deutsche Bank. With

over 25 years career in Wealth Management, he has held key leadership roles in
illustrious organisations like Hindustan Lever and Ranbaxy Laboratories. B Tech
(IIT-Kanpur) and MBA (Finance) from JBIMS
 

Roy Rodrigues, Head -Investment Banking

Previously Head -Investment Banking for India at Bear Stearns (New York).He
also was Global Head of IT Services and BPO investment banking coverage. He
has also spent four years with Arthur Anderson in Bombay (India). An MBA
(Finance and International Business) from Stern School of Business, New York
University. He is also a qualified Chartered Accountant and Cost Accountant.
 

Amandeep S Chahal Head – Retail

An MBA from Symbiosis, in his 14 years of work experience Aman has worked
with Standard Chartered Bank National Sales Manager Capital Markets Retail
and Regional Head Priority Banking. He has also worked with illustrious
organizations as Citibank and Yes Bank amongst others. Prior to joining ARFSL
in May 2006, he was the head of Yes Bank’s retail operations in the North.
 
PRODUCTS OF AR

 Equity & Derivatives

 Mutual Funds
 Depository Services
 Commodities
 Insurance Broking
 IPOs

Equity & Derivatives

AnandRathi provides end-to-end equity solutions to institutional and individualinvestors.

Consistent delivery of high quality advice on individual stocks, sector trends and
investment strategy has established us a competent and reliable research unit across
the country.

Clients can trade through us online on BSE and NSE for both equities and derivatives.
They are supported by dedicated sales & trading teams in our trading desks across the
country. Research and investment ideas can beaccessed by clients either through their
designated dealers, email, web or SMS.

Mutual Funds

AR is one of India's top mutual fund distribution houses. Our success lies in our philosophy of
providing consistently superior, independent and unbiased advice to our clients backed by in-
depth research. We firmly believe in the importance of selecting appropriate asset allocations
based on the client's risk profile.

We have a dedicated mutual fund research cell for mutual funds that consistently churns out
superior investment ideas, picking best performing funds across asset classes and providing
insights into performances of select funds.

Depository Services

AR Depository Services provides you with a secure and convenient way for holding your
securities on both CDSL and NSDL.

Our depository services include settlement, clearing and custody of securities, registration of
shares and dematerialization. We offer you daily updated internet access to your holding
statement and transaction summary.

Commodities

Commodities broking - a whole new opportunity to hedge business risk and an attractive
investment opportunity to deliver superior returns for investors.

Our commodities broking services include online futures trading through NCDEX and MCX and
depository services through CDSL. Commodities broking is supported by a dedicated research
cell that provides both technical as well as fundamental research. Our research covers a broad
range of traded commodities including precious and base metals, Oils and Oilseeds, agri-
commodities such as wheat, chana, guar, guar gum and spices such as sugar, jeera and cotton.

In addition to transaction execution, we provide our clients customized advice on hedging

strategies, investment ideas and arbitrage opportunities.

Insurance Broking

As an insurance broker, we provide to our clients comprehensive risk management techniques,

both within the business as well as on the personal front. Risk management includes
identification, measurement and assessment of the risk and handling of the risk, of which
insurance is an integral part. The firm deals with both life insurance and general insurance
products across all insurance companies.
Our guiding philosophy is to manage the clients' entire risk set by providing the optimal level of
cover at the least possible cost. The entire sales process and product selection is research
oriented and customized to the client's needs. We lay strong emphasis on timely claim
settlement and post sales services.

            Our services :

 Risk Management
 Due diligence and research on policies available
 Recommendation on a comprehensive insurance cover based on clients needs
 Maintain proper records of client policies
 Assist client in paying premiums
 Continuous monitoring of client account
 Assist client in claim negotiation and settlement

IPOs

We are a leading primary market distributor across the country. Our strong performance in IPOs
has been a result of our vast experience in the Primary Market, a wide network of branches
across India, strong distribution capabilities and a dedicated research team

We have been consistently ranked among the top 10 distributors of IPOs on all major offerings.
Our IPO research team provides clients with indepth overviews of forthcoming IPOs as well as
investment recommendations. Online filling of forms is also available.

Currencies

AnandRathi is an established market leader in the exchange traded currencies in India, which
delivers a consistent unparallel service and advice in the Rupee and other currencies. It offers
various solutions to varied needs of the currency clients across the business segment. We offer
complete hedging solutions to the end clients and help corporate in planning their remittances
and receivables. You can be rest assured that we have all the capabilities of replacing your
banker in your currency hedging needs.

This offers an all new segment to the trading community, the recently opened Rupee/Dollar is
an excellent instrument for the retail investors with less amount of margin (Low entry barrier),
limited volatility, lower transaction costs and high transparency. We at AnandRathi, thrive to give
you the best of advise and help you trade. With a single account you can trade Rupee/dollar on
NSE and MCX-SX.

PRIVATE WEALTH MANAGEMENT (PWM)

Affluent individuals need sophisticated advice and strategic guidance to capitalize on
opportunities to preserve, grow and transfer their wealth. In addition, a desire exists within
wealthy families to simplify the management of multigenerational needs and lessen the
profound emotional impact of wealth on family members.

AR offers the most extensive platform of customized servicing, individual strategies and
products to help meet the requirements of the affluent private investor. We provide
comprehensive, integrated investment strategies to address your wealth management needs.

Working closely with specialists across firm PWM offers an array of products & services, which
includes AR's highly-rated research.

Philosophy

We at AnandRathi try and understand your financial needs; to offer you personal advice and
expert analysis that you need to make your assets go the Xtra mile. Our ability to think far
ahead and formulate a long-term strategy, coupled with long hours of practice and research are
the key drivers, which make your wealth work harder for you.

We believe that the key to build wealth lies in allocating assets across various markets, financial
instruments and industry sectors. Keeping this in mind we leverage our expertise in scientific
asset allocation, to help you maximize returns and minimize risks.

Process

We realize the need to simplify the complexities of the investment strategies and we achieve
this by offering highly customized wealth management product - LaXmi TM (let your Assets go
the Xtra Mile TM )

Our Personalized Relationship Managers along with the expert team of analysts and advisors
will assist you in analyzing all your investment needs and advice you on specialized solutions
created exclusively for you.

We have a dedicated research team who constantly screens the market for investment
prospects. The team provides support in fine-tuning the investment strategy & suggests how to
capitalize on these opportunities.
 INSTITUTIONAL EQUITIES

The Institutional sales and trading team provides cutting edge market information and
investment advice to clients, coupled with excellent execution capabilities. A highly experienced
and reputed team of equity analysts supports the sales team. There is an extensive focus on
research on companies, sectors and macro-economy. The institutional equity team tracks nearly
250 large and mid-sized companies to give clients an unparalleled breadth of ideas.

We also provide Investment Advisory Services for institutional clients in India and overseas for
investment in the Indian equity markets.

MANAGED INVESTMENT SERVICES

Portfolio Management Services (PMS)

AR Portfolio Management Service is a discretionary investment service created to meet the

demand for more targeted investment styles and opportunities. It offers a range of specialized
investment strategies designed to capture opportunities across the market spectrum. The range
of products varies from the highly defensive, capital-protected to the most aggressive strategies
in the equities and derivatives markets.

Our investment process ensures that your strategy and portfolio are built on solid foundations.
Together you and your relationship manager select the strategy in line with your individual
goals. AR investment specialists then construct and manage your portfolio in accordance with
the chosen investment strategy.

INSTITUTIONAL WEALTH MANAGEMENT

Introduction

Corporate and Institutional treasuries need ever more sophisticated advice that is backed by
serious and credible research. AR IWM provides its institutional clients integrated wealth
management solutions across global markets, which are backed by proprietary global economic
& investment research.

We understand that your needs could range from finding short-term surplus management
strategies to higher yielding and long term investments. The IWM team brings together the
highly-rated AR research across fixed income, currencies and equities markets to provide
investment solutions that meet your complex needs - from simple money-market mutual funds
to complex arbitrage strategies in the equities or commodities markets.

Products
 Equity & Derivatives
 Mutual Funds
 Depository Services
 Commodities
 Insurance
 IPOs

Client List
ACC Datamatics GE Shipping Godrej Goodlass Nerola Grasim Gujarat Ambuja
Cements Bayer CenturyTextiles Clariant CRISIL Crompton Greaves Dabur
Gujarat PipavavPort Heinz India Hindalco Hindustan Lever H&RJohnson IDFC
Indian Rayon Jindal Group Larsen & Toubro Mastek Mahindra & Mahindra
Raymonds Sterlite Group Syngenta Tata Iron & Steel Trent VSNL Wartsila

INVESTMENT BANKING AND CORPORATE

FINANCE
Investment Banking

AR Investment Banking provides comprehensive services to clients including raising money in

the equity capital markets to identifying strategic alliances, mergers and acquisition
opportunities and debt financing & restructuring advisory.

Corporate Finance

The AR Corporate Finance team helps clients manage their debt-financing needs by profiling
business and cash-flow risks, defining the alternative sources of funding , building in multiple
variables such as currencies, fixed-floating, tenure, collateral etc. in a comprehensive manner
and finally negotiating with the prospective lenders / buyers.

The team has also built an impressive track-record in debt restructuring based on its superior
understanding of business needs and relationships with key lenders.

The Corporate Finance team has handled assignments in businesses like paper, hospitality,
telecom, textiles and sugar.

Services

Investment Banking : Merchant Banking

A highly experienced equity capital markets team, a pan-India distribution presence and a high
level of quality and integrity in executing client's transactions has enabled us to provide tangible
value to our clients' businesses.

We bring quality independent advice and excellent execution capabilities to create landmark
transactions for clients. Our track record of successfully lead managed IPOs includes Tips
Industries, Emami, HCL Infosystems and Provogue.

M&A, Private Equity

Our Mergers & Acquisition team works with clients in creating lasting stakeholder value through
advice on mergers, acquisitions, divestitures and private equity financing. The team leverages
on the firm's superior understanding of businesses and tax and regulatory environments as well
as a deep network of relationships across the professional and corporate world.

We have worked extensively with clients in industries like cement, sugar, chemicals, power and
textiles for mergers and acquisition deals, valuation and business restructuring.

Corporate Finance :
 Raising Cost-effective debt resources in Rupee and Foreign Currency for Projects,
Working Capital and Specific needs.
 Financial Restructuring, CDR, OTS, Interest Cost Reduction, Long-term Corporate
Loans for Working Capital Margins.

Financial products and services in hedging of interest and currency risks.

Distribution Capabilities
 Strong pan- India distribution network, with presence at over 130 locations across India.
 Leading distributor of equity related products including IPOs & mutual fund
 Have been consistently amongst the top 8 brokers, inspite of not being a lead manager.
 50000 plus captive Institutional clients and HNIs
 Strong after market support

CORPORATE ADVISORY SERVICES

AnandRathi Advisors assists companies in realizing tangible improvements in various facets of
their businesses by providing a range of corporate advisory services that includes the entire
gamut from financial, organisational and operational restructuring, to profit improvement and
business turnaround strategies.

Highly qualified and thoroughly professional, our specialists, experts and associates assist you
in conceptualising problems and devising effective solutions, whatever be your need.

Successful assignments undertaken for leading organisations in India as well as overseas bear
ample testimony to our wide-ranging capabilities, utilising our unparalleled business know-how
to give you the competitive edge.

We have successfully handled various assignments under industry segments like refinery,
cement, mining, power, paper, metals, airlines and optic fibre.

Services

 Performance Improvement and Cost Reduction

 Business Strategy and Re-engineering
 Financial, Business & Organizational restructuring
 Business Turn-around Strategies
 Management Systems: MIS, Review & Control Mechanism

CROSS BORDER ADVISORY

Dynamic Orbits is the international interface of Anand Rathi Group, inter alia Dynamic
Orbits is engaged in building strategic alliances, outsourcing contracts, contract
manufacturing alliances, cross border joint ventures and cross border acquisitions.

RESEARCH
Our research expertise is at the core of the value proposition that we offer to our clients.
Research teams across the firm continuously track various markets and products. The aim is
however common - to go far deeper than others, to deliver incisive insights and ideas and be
accountable for results. AR research processes incorporate quantitative areas well as
qualitative analyses. This multi-pronged approach helps us to provide superior risk- adjusted
returns for our clients.

AR analysts provide objective and decisive research that is designed to enable clients to make
informed investment decisions.

The team covers entire spectrum of financial markets from equities, fixed income, and
commodities to currencies. They also cover the global markets, to give clients an unparalleled
macro-view of the investment opportunities across the globe.

BENEFITS WITH AR

Quick Information

Get access to information about a company, its background, any relevant news
about the company in recent times.
Let yourself be well versed with information of whereabouts of the company,
owners & people who make a difference to the business and with whom you are
most likely to identify the company.

Company Details

Get to know a company better in terms of key personnel related to its operations
and its shareholding pattern.
Get an insight as to the thought process behind the company’s financing plans,
the financing pattern followed by the company and the key personnel who are in
control of the business.
Investor Information

Access information about how often has the company declared Dividends, Bonus
issues and how has it been performing as compared to other companies in its
peer group.
Assess how beneficial will be your investment in the company according to its
history of dividends, bonus and peer group comparison. See which companies are
performing better within the same industry circle and make an informed decision.

Corporate Announcements

Be the first to know about any public announcement made by companies. Know
the benefits that accrue to your investments before anyone else does. Read it first
hand & take necessary actions accordingly.
Take note of the board meetings held, resolutions made and critical corporate
decisions affecting your investment and identity of the company you have
invested in.

Financial Statements

Analyze the financial wellbeing of a company, profits earned through its

operations, cash flows during the year.
Access the strength of a company in terms of financing its day to day operations,
Fixed assets and its capability to take on future ventures successfully.

Key Ratios

Evaluate the worth of your investments through the ratios that resemble the
performance of a company. It is one of the easiest modes of performance
comparison between companies.
Compare the differences between standard ratios and actual ratios of the
company that you want to invest into. Check what the tolerable level of disparity is
 before its time for you to reconsider your investments in the company.

Results

Access the latest company results posted on internet about any company of your
choice. Be in touch with the results affecting your investments.