Beyond Classification: Mastering Peer Group Selection and Relative Valuation

You are building a DCF model for an Indian mid-cap conglomerate that operates both a high-margin specialty chemical plant and a low-margin commodity textile unit. When it comes time to determine your exit multiple, you...

Beyond the Code: Mastering Porter’s Five Forces in Research

Imagine you are drafting an equity research note on an Indian mid-sized logistics firm. You have analyzed their balance sheet and growth prospects, but when you present your 'Buy' thesis to your investment committee,...

Refining Peer Groups: The Art of Valuation Comparability

Picture yourself in the equity research department of a Mumbai-based brokerage. You are tasked with valuing a mid-cap IT service provider that focuses exclusively on banking software. Your initial instinct might be to...