Intermediate
Case Study: Valuing a Real Indian Corporate Bond Using Yield to Maturity
A hands-on case study that takes one real, exchange-listed Indian corporate bond and values it end to end. Built for experienced retail investors, active traders, and HNIs who know what YTM is and now want to apply it to an actual NCD: reading the term sheet, finding the bond on NSE and BSE, building the exact cash flow schedule with SEBI's day count rules, solving for YTM from the market price in Excel, and judging whether the yield is fair against G-Secs, FDs, and debt funds after tax. Every step is worked in INR with a reusable worksheet at the end.
Corporate BondsNon-Convertible DebenturesTerm Sheets and ProspectusesCash Flow SchedulesAccrued InterestYield to MaturityYield to Call and Yield to WorstCredit SpreadsAfter-Tax Returns
MODULES
4
DURATION
4 Hours
TRACK
Stock Market Basics
What You'll Master
Read an NCD's shelf prospectus and term sheet and pull out every number that drives valuation
Locate a listed bond on NSE and BSE by ISIN and judge whether its quote is tradeable
Build the bond's exact cash flow schedule using record dates and SEBI's actual/actual day count
Compute accrued interest and the dirty price you actually pay on settlement
Solve for YTM from the market price with Excel's XIRR and YIELD, and verify it with a price-yield round trip
Decompose the yield into G-Sec base and credit spread, compare it after tax with FDs and debt funds, and stress test it before deciding
Access Level
LEARNER
Everything included
Full Text Playbooks
Actionable Exercises
Mobile Reading Mode
Lifetime Updates
Curriculum Breakdown
Chapter 1: Setting Up the Case
4 Lessons▶
Why a Case Study: From Textbook YTM to a Real NSE Quote9 min read
▶
Reading the Shelf Prospectus and Term Sheet: Coupon, Tenor, Payment Dates, and Options11 min read
▶
Finding the Bond on NSE and BSE: ISIN, Series, Last Traded Price, and Liquidity10 min read
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Credit Rating, Security, and Seniority: What Stands Behind the Cash Flows10 min read
Chapter 2: Building the Cash Flow Schedule
3 LessonsChapter 3: Solving for Yield to Maturity
4 Lessons▶
Computing YTM from the Market Price with Excel's XIRR and YIELD11 min read
▶
Checking the Answer: The Price-Yield Round Trip and a Sensitivity Table10 min read
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Annual vs Monthly Coupon Series: Why the Same Issue Shows Different Yields10 min read
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Yield to Call and Yield to Worst When the Issuer Holds an Option10 min read
Chapter 4: Is the Yield Worth It?
4 Lessons▶
Building the Spread: The Bond's YTM Against a Matching-Maturity G-Sec10 min read
▶
After-Tax Comparison with FDs, Debt Funds, and Other Listed NCDs11 min read
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Stress Testing the Position: Rate Moves, Rating Downgrades, and Exit Liquidity11 min read
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The Verdict and a Reusable Bond Valuation Worksheet10 min read