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Stock Market Basics
34 courses
Portfolio Management & Asset Allocation for Indian Investors
The flagship course on running a whole portfolio instead of collecting individual stocks and funds. Built for salaried professionals, HNI investors, those nearing retirement and fresh graduates starting their first SIP, it replaces the accidental portfolio most Indian households hold with a written process. You will price your goals in rupees, separate risk capacity from risk appetite, compare the real long-run behaviour of Indian equity, debt, gold, REITs and cash, and choose an allocation framework you can actually stick to. From there you will build a core-satellite equity sleeve, rebalance with STCG, LTCG and costs in view, set drawdown rules in advance, and follow a complete worked portfolio for a 35-year-old salaried investor from first SIP to retirement glide path. It is the companion course to The Capital Gains model portfolios.
- Diagnose an existing portfolio for fund overlap, orphan holdings and hidden concentration
- Convert life goals into inflation-adjusted rupee targets with clear horizons
- Distinguish risk capacity, risk tolerance and required return, and account for EPF, PPF, NPS and physical gold
Advanced Screener.in: Building Custom Financial Screens
For investors who already know how to run a basic Screener.in query and want to build screens that actually find good businesses. Learn how the query engine really evaluates a screen, which historical and quarterly variables to use, and how to create custom ratios and column sets that answer one clear question. Then build complete strategy screens for quality compounders, value, growth at a reasonable price and turnarounds, plus forensic screens that flag weak cash conversion, promoter pledging and working capital stress. Covers why banks, NBFCs and cyclicals break generic filters, the testing traps that make a screen look smarter than it is, and a repeatable monthly routine for turning a screen into a shortlist. Built on real NSE and BSE listed companies, written for experienced retail investors, mutual fund investors moving into direct equity, and salaried professionals who want a disciplined, time-efficient research process.
Building a Dividend Income Portfolio
A practical guide to building a portfolio of Indian dividend-paying stocks for steady income, aimed at investors who already understand the basics of equity investing and want a structured approach to income investing. Covers how to read dividend yield and payout ratio correctly, how to screen for quality dividend payers on Screener.in, which NSE and BSE sectors have a genuine track record of consistent payouts, how to diversify and rebalance an income-focused portfolio, and how dividend income is actually taxed in India after the abolition of DDT. Uses real Indian companies and screener workflows throughout.
- Learn dividend investing fundamentals and what drives dividend income
- Screen for quality dividend stocks and build a portfolio
- Understand how dividend income gets taxed in India
Building a Portfolio Tracker Using Google Sheets and APIs
A hands-on build course for investors who have outgrown broker dashboards and scattered app screens. You will design and build one Google Sheets tracker that holds your entire portfolio: NSE and BSE stocks priced live with GOOGLEFINANCE, mutual fund NAVs pulled from AMFI and mfapi.in, and FDs, PPF, EPF and SGBs tracked alongside. You will build a clean transaction ledger from your Zerodha tradebook and CAMS or KFintech CAS, compute FIFO cost, realised and unrealised P&L, and XIRR the right way, then benchmark against the Nifty 50 TRI. Finally you will automate it with Google Apps Script: daily snapshots, API calls, alerts, and a dashboard with allocation, STCG and LTCG views and rebalancing flags. Built for experienced retail investors, mutual fund investors and salaried professionals who want a tracker they fully understand and control.
- Design a tracker around a transaction ledger instead of a static holdings list
- Pull live NSE and BSE prices, index levels and history with GOOGLEFINANCE and handle its limits
- Fetch mutual fund NAVs from AMFI and mfapi.in and track FDs, PPF, EPF and SGBs in the same sheet
Case Study: Bajaj Finance, Evaluating a High Growth NBFC
Bajaj Finance grew from a captive two-wheeler financier into one of the largest and most richly valued lenders on the NSE, compounding its loan book at a pace few Indian financial companies have matched. This case study takes the business apart: how an NBFC borrows, lends and earns a spread, how zero-cost EMIs at consumer durable counters built a customer franchise of tens of millions, and how that franchise was turned into a cross-sell machine across personal loans, mortgages, SME and gold loans. Then it reads the numbers the way a lender should be read: AUM growth, cost of funds, NIM, Stage 2 and Stage 3 assets, credit cost, ROA, ROE and leverage. It walks through the shocks the company absorbed, from demonetisation and the IL&FS liquidity crisis to COVID and the 2023 RBI action on its digital lending products, and closes with how to value a lender on price to book and a checklist you can apply to any high-growth NBFC using annual reports and screener.in.
- How an NBFC makes money, and how it differs from a bank in funding, regulation and risk
- How zero-cost EMI financing built Bajaj Finance's customer franchise and cross-sell engine
- How to read AUM growth, cost of funds, NIM and operating expenses for a lender
Case Study: Dr Reddy's Labs, Navigating Regulatory Risk in Pharma
Indian pharma stocks can look cheap and steady for years, then lose a fifth of their value on a single regulatory announcement. Dr Reddy's Laboratories is the clearest case study of that risk on NSE. This course starts with how a Hyderabad generic drug maker built a business spanning APIs, US generics and branded emerging markets, and how the USFDA inspection system of Form 483s, warning letters and import alerts works. It then walks through the November 2015 warning letter covering three plants, the share price reaction and the multi-year remediation. From there it widens the lens to patent litigation and at-risk launches, anti-corruption compliance, and the revenue concentration created by a single blockbuster generic. The final chapters turn all of this into a practical investor toolkit: where regulatory signals hide in an annual report, how to value a pharma stock using scenarios instead of a single number, and a checklist you can run on screener.in before buying any Indian pharma company.
- How an Indian generic pharma company earns money across APIs, US generics and branded markets
- What Form 483s, warning letters, import alerts and EIRs mean, and how serious each one is
- How the 2015 warning letter hit Dr Reddy's plants, earnings and share price, and how the recovery played out
Case Study: HDFC Twins Merger, Understanding Deal Structuring
In April 2022, HDFC Ltd announced it would merge into HDFC Bank, the lender it had founded and still part-owned. Fifteen months and a long list of approvals later, the combined entity became one of the heaviest stocks on the Nifty 50. This case study takes the deal apart the way an investor should: why a profitable mortgage lender chose to give up its independence, how the two-step amalgamation and the 42 for 25 share swap were structured, what happened to the cross holding and to HDFC Life, HDFC AMC and HDFC Ergo, and which regulatory costs (CRR, SLR, priority sector lending) came attached. Then it looks at the market's verdict: index weight changes, passive flows, the post-merger credit-deposit ratio problem and the stock's performance. Built for investors who hold either stock in a portfolio or a mutual fund and want a framework to judge any Indian merger with real numbers.
- Why a large, profitable NBFC would choose to merge into a bank, and the regulatory forces behind that choice
- How a two-step amalgamation works and why the subsidiaries were merged first
- How to read and sanity check a share swap ratio like 42 HDFC Bank shares for every 25 HDFC Ltd shares
Case Study: Jet Airways, Reading Warning Signs of Bankruptcy
Jet Airways grounded its fleet in April 2019 and was ordered into liquidation by the Supreme Court in November 2024, leaving shareholders with nothing. This case study traces the airline from its rise under Naresh Goyal through the Air Sahara deal, the Etihad stake, years of negative net worth, deferred results, salary delays and rating downgrades, to the failed lender rescue and the IBC process. It then turns every warning sign into a practical toolkit, including the Altman Z-Score, a Screener.in distress screen and a red-flag checklist you can run on any turnaround story on NSE or BSE.
- Why airline economics make carriers structurally prone to distress
- How to read negative net worth, weak interest coverage and cash burn in an annual report
- What deferred results, salary delays and rating downgrades signal about solvency
Case Study: PVR Inox Merger, Consolidation in a Struggling Sector
An India-first case study of the 2022 to 2023 merger of PVR and INOX Leisure into PVR INOX Ltd, the country's largest multiplex operator. Built for experienced retail investors, mutual fund investors, and salaried professionals who want to judge a listed company going through a merger. Covers multiplex unit economics, the COVID shutdown that forced the deal, the all-stock swap ratio, the approval path through SEBI, the exchanges and NCLT, Ind AS 116 lease accounting, promised versus delivered synergies, content-driven revenue swings, screen rationalisation, and the OTT threat. Ends with a reusable checklist for mergers in struggling sectors and a hands-on analysis of the PVR INOX stock on screener.in.
- Break down how a multiplex earns money from tickets, food and beverages, and advertising, and read ATP, SPH and occupancy
- Explain why a near-zero revenue year pushed two rivals with different playbooks into a merger
- Work out what a 3:10 share swap means for a shareholder of each company
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.
- 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
Case Study: Zee Entertainment, Governance Failure and Investor Impact
An intermediate case study that follows Zee Entertainment Enterprises from India's first private Hindi entertainment network to one of the NSE's most closely watched governance failures. You will trace how Essel Group's infrastructure debt was financed against ZEEL shares, why the stock fell sharply in January 2019, how the promoter stake shrank from over 40 percent to low single digits, what the Yes Bank letter of comfort and related party flows revealed, how Invesco's revolt, SEBI's 2023 interim order and Sony's January 2024 exit played out, and what all of it cost shareholders and mutual fund investors. Every chapter ends in a tool you can apply to any promoter-led company using NSE and BSE filings and screener.in.
- How Zee's advertising and subscription model generated cash, and how that cash became exposed to the wider Essel Group
- How promoter share pledges work, where to find them in NSE and BSE disclosures, and why the January 2019 fall followed from them
- How a letter of comfort, related party transactions and independent director resignations signal money leaving a listed company
Portfolio Rebalancing: When and How to Do It
A practical, India-specific guide to portfolio rebalancing for investors who already hold a mix of equity, mutual funds, and other assets. Covers why portfolios drift from their target allocation, how to set calendar-based and threshold-based rebalancing rules, and how to actually execute a rebalance while accounting for STCG, LTCG, and exit loads on Indian mutual funds and stocks. Uses real Indian examples and walks through rebalancing on Zerodha Coin and Console.
- Understand portfolio drift and why rebalancing matters
- Build trigger rules for when to rebalance
- Learn rebalancing mechanics and costs in Indian markets
Practice Drills: Analyzing Cash Flow Quality Across Quarters
A practice-first companion to Reading Cash Flow Statements in Depth. You already know what operating, investing, and financing cash flows are; this course makes you use them. Working with NSE and BSE results filings, Screener.in data, and a tracker you build yourself, you will drill cash conversion ratios, working capital swings, and free cash flow period by period, learn to separate normal seasonality from genuine deterioration, and catch the one-off tricks that make a single period's cash flow look better than the business really is. Built for experienced retail investors, mutual fund investors, and salaried professionals who want a repeatable way to judge earnings quality before they buy, or before they trust a fund that does.
- Pull half-yearly and annual cash flow data from NSE, BSE and Screener.in filings, and derive the periods companies do not report directly
- Calculate and track CFO to EBITDA, CFO to PAT, and free cash flow across consecutive periods
- Read receivable, inventory and payable day swings between half-years and explain what moved cash
Practice Drills: Building a Sector Comparison Scorecard
A drill course for investors who already know that a bank, an IT exporter and a cement maker cannot be judged on the same yardstick, and now want a repeatable way to compare companies inside one sector. You will pick a fair peer set, choose the metrics that actually drive each sector, pull and clean the data from screener.in and annual reports, convert raw numbers into scores, weight them honestly, and then build full scorecards for Indian IT services, private sector banks, FMCG and cement. The course closes by stress-testing your weights and turning the final scores into a research watchlist, not a buy list.
- Build a fair peer set for any NSE-listed sector and defend every inclusion and exclusion
- Choose the handful of metrics that genuinely drive returns in IT, banking, FMCG and cement
- Pull, clean and normalise peer data from screener.in and annual reports
Practice Drills: Calculating Yield to Maturity and Duration on Sample Bonds
A drill-first course for experienced retail investors, active traders, and HNIs who already know the theory of bond pricing and now want to compute yield to maturity and duration quickly and correctly. Every drill uses sample bonds modelled on real Indian instruments: G-Secs and T-Bills from RBI Retail Direct, SDLs, and listed corporate bonds on NSE and BSE. You work each problem by hand first, then check it in Excel or Google Sheets, then apply it to a real decision such as choosing between two bonds before an RBI policy meeting or stress-testing a portfolio against a rate shock.
- Price a fixed-coupon bond from its cash flows and split the dirty price into clean price and accrued interest
- Solve for YTM by trial and error, by the approximation formula, and with the YIELD and RATE functions in a spreadsheet
- Compute yield to call and yield to worst on callable corporate bonds and pick the right one to quote
Practice Drills: Constructing a Dividend Income Portfolio
A hands-on drill course for investors who already understand dividend yield, payout ratio and dividend traps, and now need to build an income portfolio end to end. You will convert a monthly income goal into a required corpus and yield, run a dividend screen on Screener.in, stress-test each candidate's payout against free cash flow, debt and earnings, size positions under sector and single-stock caps, calculate post-tax income at your slab rate after TDS, and practise the annual review that decides what to trim, top up or exit. Every drill uses Indian companies, NSE and BSE data, and INR figures.
- Convert a monthly income target into the corpus and portfolio yield you actually need, after tax
- Build and refine a dividend screen on Screener.in and cut a raw list down to a shortlist
- Test whether a dividend is sustainable using payout ratio, free cash flow cover and debt
Practice Drills: Evaluating a Merger or Demerger Announcement
A practice-first companion to Understanding Mergers, Acquisitions, and Demergers. You already know what a scheme of arrangement, a swap ratio, and an open offer are; this course makes you work them. Starting from the actual exchange filings on BSE and NSE, you will drill swap ratio conversions, merger arbitrage spreads, EPS accretion and dilution, open offer acceptance ratios, demerger entitlements, and cost of acquisition splits, then learn to read valuation reports and spot deals that quietly shortchange minority shareholders. Built for experienced retail investors, mutual fund investors, and salaried professionals who hold stocks that show up in deal headlines and want a repeatable way to evaluate the announcement before the market does it for them.
- Find the board outcome, scheme document, valuation report, and fairness opinion for any deal on BSE and NSE
- Convert your holding through a swap ratio, including fractional entitlements, and compare swap value with market price
- Calculate a merger arbitrage spread and the market's implied probability of the deal closing
Practice Drills: Reading and Summarizing Earnings Call Transcripts
A practice-first companion to Reading Management Commentary and Earnings Call Transcripts. Instead of more theory, this course puts concall transcripts of NSE-listed companies in front of you and drills you through them: pulling every number from the opening remarks, separating firm guidance from mood, tagging analyst questions, scoring management answers, and compressing the whole call into a one-page summary you can compare quarter after quarter.
- Pull a concall transcript from BSE, NSE or screener.in and skim it in ten minutes
- Extract every number and guidance statement from management's opening remarks
- Separate firm guidance from soft commentary and hedge language
Practice Drills: Rebalancing a Sample Portfolio Based on Targets
A hands-on drill course for investors who already hold a mix of equity, debt and gold and want to keep it on target. Every lesson hands you a sample portfolio in INR, a target allocation and a market move, and you work out the exact trades: how much to sell, how much to buy, and whether fresh SIP money can do the job without selling at all. Covers calendar vs threshold triggers, tolerance bands, multi-asset and market-cap sub-allocation, international funds, and the tax, exit load and lot-selection rules that decide whether a rebalance is worth doing. Uses Nifty-linked scenarios, Indian mutual funds, SGBs and Gold ETFs, and execution on Zerodha Coin and Kite.
- Measure how far a portfolio has drifted from its target and turn the gap into exact rupee trades
- Choose between calendar, threshold and hybrid rebalancing rules and apply tolerance bands
- Rebalance with fresh SIP money and redirected inflows before selling anything
Practice Drills: Spotting Working Capital Red Flags
A practice-first companion to Understanding Working Capital and Its Impact on Business Health. You already know what debtor days, inventory days, payable days and the cash conversion cycle mean; this course makes you apply them to real Indian filings. Working with Screener.in data, NSE and BSE annual reports, and the notes to accounts most investors skip, you will drill receivable ageing, related-party balances, inventory build-ups, stretched payables, supply chain finance and customer advances, then pull it all together into a red flag scorecard you can run on any listed company. Built for experienced retail investors, mutual fund investors, and salaried professionals who want to spot a working capital problem before it becomes a cash crunch.
- Pull receivables, inventory, payables and their ageing notes from Screener.in and annual reports, standalone and consolidated
- Test whether debtor days and inventory days are rising faster than sales can justify
- Read receivable ageing schedules, provisions, unbilled revenue and inventory mix for early warning signs
Reading Annual Reports Using the BSE and NSE Filing Systems
An annual report is one filing among hundreds a listed company sends to BSE and NSE every year. Read it alone and you miss the AGM resolutions, the quarterly shareholding and pledge data, the related party disclosures, the auditor resignation letter, and the credit rating downgrade that landed three months after the report went out. This course treats the exchange filing systems as your research tool: where the annual report sits in the SEBI LODR calendar, how to pull it and its archives from both exchanges, which companion filings complete it, which event filings change how you read it, and how to build a repeatable, filing-driven routine for every stock you own. Built for experienced retail investors, mutual fund investors, and salaried professionals who already know their way around the exchange websites and want to turn them into a proper research workflow.
- Place the annual report in the SEBI LODR filing calendar and know which filing is due when
- Pull current and archived annual reports from both BSE and NSE, and handle missing or revised copies
- Read the AGM notice, Regulation 33 results, and XBRL data alongside the annual report
Reading Cash Flow Statements in Depth
A line-by-line guide to reading and interpreting cash flow statements for Indian listed companies, built for retail investors, mutual fund investors, and salaried professionals who are already comfortable with a profit and loss statement and want to go deeper. Learn to reconcile net profit to cash profit, break down operating, investing, and financing activities, calculate free cash flow, and spot the manipulation tricks that let profit grow while cash quietly disappears, using real filings and Screener.in data throughout.
- Break down cash flow from operating activities line by line
- Connect investing and financing activities to free cash flow
- Spot manipulation red flags across sectors and funds
Reading Credit Rating Reports and Their Relevance to Equity Investors
A practical guide for experienced retail investors who track stocks but have never actually opened a CRISIL or ICRA rating rationale. Most equity investors treat credit ratings as something only bond buyers need to care about, then get blindsided when a debt downgrade drags down the stock they hold, as happened with IL&FS, DHFL, and Yes Bank. This course teaches you to read an Indian rating report the way an analyst does: what the rating scale actually measures, how to work through a rating rationale section by section, which leverage, coverage, and liquidity ratios agencies track, and how to connect a company's rating trajectory to its equity story before the market reacts. Built around real CRISIL, ICRA, CARE, and India Ratings reports, and grounded in NSE and BSE case studies throughout.
- See why credit ratings matter to an equity investor
- Break down the anatomy of a rating report
- Connect the numbers behind a rating to a stock call
Reading Management Commentary and Earnings Call Transcripts
A practical, transcript-first course on decoding what management actually says on Indian earnings calls, in investor presentations, and in the MD&A section of annual reports. Learn where to find real transcripts on BSE, NSE, and screener.in, how to read the structure of a concall, and how to spot hedge language, guidance shifts, and tone changes before they show up in the numbers.
- Build the skill of reading management commentary closely
- Learn the anatomy of a typical earnings call
- Decode the language management uses on calls
Sectoral Analysis: Understanding How Different Industries Behave
A sector-by-sector guide to how Indian industries actually make money, what drives their earnings, and why the same ratio means completely different things in a bank, an IT services firm, and a cement maker. Built for experienced retail investors, mutual fund investors, and salaried professionals who already know the basics of reading financial statements and want to analyse stocks and sector funds with an industry lens. Covers NSE sectoral indices, cyclical vs defensive behaviour, sector-specific KPIs and valuation multiples, and sector rotation, using real Nifty sector data, Screener.in, and listed Indian companies throughout.
Setting Up Price and News Alerts Across Platforms
Most investors either have no alerts at all or have forty of them firing every day, and both end the same way: the one move that mattered gets missed. This course treats alerts as a system, not a feature. You will design an alert register that ties every holding to a specific trigger and a specific action, then build it across the platforms Indian investors actually use: price alerts and Alert Triggers Order on Zerodha Kite, GTT orders, alerts on Groww and Upstox, chart and indicator alerts on TradingView, corporate filing alerts from NSE and BSE, result and announcement tracking on Screener.in, news alerts that filter out market chatter, and mutual fund alerts for NAV moves and portfolio disclosures. Built for experienced retail investors, mutual fund investors, and salaried professionals who cannot watch a screen all day and need their portfolio to tap them on the shoulder only when it matters.
- Design an alert register that maps every holding to a trigger, a platform, and a pre-decided action
- Set price alerts and Alert Triggers Order on Zerodha Kite, and know when a GTT order is the better tool
- Build crossing, channel, percentage-move and indicator alerts on TradingView without hitting plan limits blindly
Understanding Bond Pricing: Yield to Maturity, Duration, and Convexity
A rigorous, India-first course on how bonds are actually priced and how their risk is measured. Built for experienced retail investors, active traders, and HNIs who already know what a bond is and now want to price one, compute its yield to maturity, and size its interest rate risk using Macaulay duration, modified duration, PV01, and convexity. Uses G-Secs, SDLs, and corporate bonds traded on NSE, BSE, and RBI Retail Direct, debt fund factsheets, and real RBI rate cycles throughout, with every formula worked in INR.
- Price any fixed-coupon bond by discounting its cash flows, and separate clean price from accrued interest
- Compute yield to maturity by hand and in Excel, and understand the reinvestment assumption behind it
- Evaluate callable bonds using yield to call and yield to worst
Understanding Consolidated vs Standalone Financial Statements
Every listed Indian company with subsidiaries publishes two sets of numbers, and picking the wrong one can make a stock look cheap, safe, or profitable when it is none of those. This course shows you exactly how consolidation works under Ind AS, where the two versions live on BSE, NSE and screener.in, how to read the gap between them, and how groups like Tata Motors, Reliance, Bajaj Finserv and Adani use subsidiary structures. You finish with a practical checklist for deciding which statement to trust for every ratio you run.
- Why Indian companies report standalone and consolidated numbers, and which laws and SEBI rules require it
- How to pull both versions from annual reports, BSE and NSE result filings, and screener.in without mixing them up
- How consolidation works: control, line-by-line addition, intra-group eliminations, non-controlling interest and goodwill
Understanding Cyclical vs Defensive Stocks
A deep guide to the two behaviours that shape every Indian portfolio: stocks whose earnings rise and fall with the economy, and stocks whose earnings hold steady through it. Built for experienced retail investors, mutual fund investors, and salaried professionals who want to know what they actually own and how it will behave in the next downturn. Covers how to classify and measure cyclicality on Screener.in, the economics of commodity, demand, and rate cyclicals, why defensives command a premium and when it stops paying, valuing stocks across the cycle with normalised earnings and price to book, tracking Indian leading indicators and RBI rate cycles, and building a balanced portfolio through direct stocks, sector funds, and ETFs, using real NSE companies and Nifty sector index history throughout.
Understanding ESG Investing in the Indian Context
A practical course on ESG investing for Indian investors who want substance over slogans. Learn what environmental, social and governance risks mean for returns, how to read SEBI's BRSR disclosures, why ESG ratings disagree, how ESG mutual funds and indices are actually built, and how to fold material ESG factors into your own analysis of NSE and BSE listed stocks without falling for greenwashing.
- Why ESG factors are financial risks, and where the evidence on ESG and returns is strong or weak
- How ESG investing differs in India, from coal dependence to promoter-driven governance
- How to find and read a company's BRSR filing and the BRSR Core metrics that get assured
Understanding Mergers, Acquisitions, and Demergers
An investor's guide to what really happens to your shares when an Indian listed company merges, gets acquired, or splits itself apart. Built for experienced retail investors, mutual fund investors, and salaried professionals who hold stocks that show up in deal headlines and want to understand the mechanics instead of reacting to them. Learn why companies do deals, how schemes of arrangement move through NCLT and shareholder votes, how swap ratios convert your holding, how SEBI's Takeover Code and open offers protect minority shareholders, and how delistings work. Then look at deals through an investor's lens with EPS accretion and dilution, merger arbitrage spreads, and the warning signs of value-destroying acquisitions, before decoding demergers, cost of acquisition splits, and the tax treatment of every event. Uses real NSE and BSE cases like HDFC and HDFC Bank, Reliance and Jio Financial Services, and ITC Hotels, with screener.in and exchange filings throughout.
Understanding Sector Rotation and Business Cycles
A practical, India-specific guide to the business cycle and the sector rotation it drives. Built for experienced retail investors, mutual fund investors, and salaried professionals who already understand sectors and basic macro, and now want to judge where the Indian economy sits in its cycle, which sectors tend to lead and lag in each phase, and whether the textbook rotation model actually holds on NSE. Covers leading indicators like PMI, GST collections, credit growth, and auto sales, the RBI rate cycle, Nifty sectoral index performance across real Indian cycles from 2003 to today, relative strength analysis, and how to implement tactical sector tilts through index funds, ETFs, and business cycle funds without wrecking returns through overtrading and tax drag.
- Identify the four phases of the business cycle and why the stock market typically turns before the economy does
- Read India's cycle dashboard: PMI, GST collections, IIP, bank credit growth, capacity utilisation, and the yield curve
- Map which Indian sectors historically lead in early, mid, and late cycle phases and which hold up in a slowdown
Understanding Working Capital and Its Impact on Business Health
A practical, investor-side guide to working capital, built for experienced retail investors, mutual fund investors, and salaried professionals who already know how to read a balance sheet and want to know what the receivables, inventory, and payables lines are actually telling them. Learn to locate working capital on a balance sheet, calculate and interpret DSO, DIO, DPO, and the cash conversion cycle, read liquidity ratios as trend signals rather than pass or fail tests, and see why FMCG, IT, and capital goods companies carry completely different working capital profiles. Covers negative working capital businesses, the red flags that show up before a cash crunch does, and how to carry this lens into stock screening on Screener.in and into evaluating a mutual fund's underlying holdings, using real NSE and BSE listed companies throughout.
How to Read Financial Statements
A practical guide to reading a company's profit and loss statement, balance sheet and cash flow statement through an investor's lens. Shows how these three statements fit together, so you can build a clear picture of any company's financial health before you invest.
- Read the P&L statement to see how a company earns
- Analyze the balance sheet and cash flow statement together
- Put all three financial statements together for a full picture
Value Investing
14 courses
Fundamental Analysis Masterclass: Analysing Any Indian Stock End to End
The complete analyst workflow for Indian equities, built for salaried professionals, self-taught investors and finance students who want to stop buying on tips and start buying on evidence. You will learn to understand a business before its numbers, read the three statements the way a buy-side analyst does, run ratio and earnings-quality checks on screener.in, judge management and capital allocation from annual reports and concalls, and value a company with relative multiples, DCF and reverse DCF. Every chapter ends in a concrete output, and the course closes with a one-page thesis template, a position sizing method, an exit rule and two full worked case studies on NSE-listed companies.
- Follow a repeatable eight-step workflow that takes any Indian stock from name to documented decision
- Assess industry structure and moats in the Indian context before touching the numbers
- Read the P&L, balance sheet and cash flow statement together, including notes, segments and consolidated accounts
Advanced Ratio Analysis for Stock Selection
A practical, ratio-by-ratio framework for selecting stocks, built for investors who already know how to read a P&L, balance sheet, and cash flow statement and want to go further. Goes beyond textbook definitions into comparability, sector-relative benchmarking, and the traps that make a ratio look good on paper while the underlying business deteriorates. Uses real NSE and BSE listed companies, Screener.in data, and full worked case studies throughout, and closes with a chapter on applying the same framework to evaluate mutual fund holdings.
- See how context shapes profitability, return and valuation ratios
- Assess leverage, liquidity and balance sheet health beyond P/E
- Build a ratio-based screening framework for stocks and funds
Case Study: Asian Paints, Understanding a Two Decade Compounder
Asian Paints compounded shareholder wealth for the better part of two decades while trading at a valuation most investors called too expensive every single year. This case study takes the business apart: how a decorative paint company actually makes money, the dealer network, tinting and supply chain edge that kept competitors at bay, and the ROCE, working capital and cash flow numbers that powered the compounding. Then it asks the harder questions. How much of the return came from earnings growth versus a rising P/E, why the premium multiple persisted, and what the entry of Birla Opus and other deep-pocketed rivals means for a moat that looked unbreakable. Built for investors who already hold, or are considering, a quality compounder and want a framework to judge one using real numbers from annual reports and screener.in.
- How a decorative paint business makes money, and why distribution matters more than chemistry
- The specific pieces of Asian Paints' moat: dealer network, tinting, demand forecasting and pricing power
- How to read two decades of revenue, margin, ROCE and cash flow data on screener.in
Case Study: Avenue Supermarts vs Future Retail, Two Retail Strategies
A head-to-head case study of two Indian retailers that chased the same middle-class grocery shopper and ended up at opposite ends of the market. Avenue Supermarts (DMart) owned its stores, kept prices low every day, paid suppliers fast and funded growth from its own cash. Future Retail (Big Bazaar) leased aggressively, ran mega sales, stretched working capital and funded expansion with debt and promoter pledges. This course puts the two models side by side, metric by metric: store economics, pricing, inventory turns, working capital, capital allocation and return on capital employed, then shows how each handled demonetisation, GST and Covid. You finish with a reusable comparative scorecard you can run on screener.in against any listed Indian retailer. Written for experienced retail investors, mutual fund investors and salaried professionals who want to judge business quality, not just stock price.
- How ownership versus leasing of stores shapes a retailer's costs, flexibility and risk
- Why everyday low pricing and mega-sale pricing produce very different cash flows
- How to compare sales per square foot, inventory turns and working capital cycles across two companies
Case Study: Coal India, Dividend Yield Investing in a PSU
Coal India has spent most of its listed life as the stock income investors love to screen for: a dominant market share, a strong balance sheet and a dividend yield that routinely beat a bank fixed deposit. It has also spent long stretches going nowhere, as a government owner, wage revisions, offer-for-sale overhangs and the energy transition weighed on the price. This case study takes the business apart: how Coal India earns money from fuel supply agreements and e-auctions, how to test whether a dividend is sustainable using payout ratio, free cash flow and cash on the books, and how the majority shareholder's priorities shape everything from capex to payouts. Then it follows the actual returns across two very different periods and asks what a high yield on a business with a contested long-term future is really worth. Built for investors who hold, or are tempted by, high-yield PSU stocks and want a framework grounded in real numbers from annual reports and screener.in.
- How Coal India makes money, and why notified prices and e-auction premiums drive its earnings
- How to calculate dividend yield correctly and spot the common traps in a high trailing yield
- How to test dividend sustainability using payout ratio, free cash flow and cash reserves
Case Study: IRFC, Understanding PSU Valuation Re Rating
Indian Railway Finance Corporation listed in January 2021 as a low-risk, low-return government lender and spent two years trading below its book value. Then, in the 2023-24 PSU rally, the stock multiplied several times over and its price to book ratio expanded far beyond anything its business model had ever justified. This case study takes that rally apart. You will learn how IRFC's cost-plus leasing model with the Ministry of Railways actually earns money, why that model caps its return on equity, and how the price to book and ROE relationship should anchor the valuation of any lender. You will then break the rally into earnings growth versus multiple expansion, work backwards from the peak price to see what it implied, compare IRFC with PFC, REC and HUDCO, and study the drawdown that followed. The course closes with a screener.in workflow and a repeatable framework for judging whether the next PSU re-rating is grounded in fundamentals or in flows.
- Explain how IRFC's cost-plus leasing arrangement with the Ministry of Railways generates earnings and why it limits both risk and return
- Use the price to book and ROE relationship to judge what multiple a lender like IRFC can justify
- Break a stock's rally into earnings growth and multiple expansion, and tell which one drove IRFC's move
Case Study: IndiGo, Analyzing a Capital Intensive Business
Indian aviation is a graveyard: Kingfisher, Jet Airways and Go First all collapsed while passenger traffic kept growing. IndiGo went the other way and became the dominant domestic carrier. This case study takes InterGlobe Aviation apart to show how a capital intensive, cyclical, commodity-exposed business can still create shareholder value, and where it can go wrong. You will learn the airline vocabulary (ASK, load factor, yield, RASK, CASK), how sale and leaseback funds the fleet, what Ind AS 116 did to the balance sheet, why fuel prices and the rupee matter so much, and how shocks like COVID and engine groundings hit the numbers. Then you will value it the way analysts do and walk away with a checklist you can apply to any capital heavy business on NSE, using annual reports and screener.in.
- Why airlines as an industry tend to destroy capital, and what IndiGo did differently
- How to read airline unit economics: ASK, RPK, load factor, yield, RASK and CASK
- How sale and leaseback financing works and why it shaped IndiGo's growth
Case Study: L&T's Order Book, Understanding Infrastructure Valuation
Larsen & Toubro is the closest thing India has to a listed proxy for the country's capex cycle: roads, metros, power, water, defence, hydrocarbons and more, plus a stable of listed subsidiaries. That breadth also makes it one of the harder Nifty 50 stocks to value. This case study teaches you to analyse L&T the way infrastructure analysts do. Start with the order book: how order inflow, order backlog and revenue connect, what book-to-bill and order book cover tell you about visibility, and how to judge the quality of what sits in the backlog, including the recent surge in Middle East orders. Then follow orders into cash: percentage of completion revenue under Ind AS 115, contract assets, retention money, mobilisation advances and the execution risks hidden in fixed-price contracts. Finally, value the company with a sum of the parts that separates core engineering and construction from LTIMindtree, L&T Technology Services and L&T Finance, and finish with a checklist you can apply to any order-book-driven company on NSE, using annual reports, investor presentations and screener.in.
- How order inflow, order book and revenue connect, and why the order book is a leading indicator for EPC companies
- How to measure revenue visibility with book-to-bill and order book cover, and judge the quality of a backlog
- How percentage of completion revenue works under Ind AS 115 and what it does to reported profits
Case Study: Page Industries, Valuing a Premium Consumer Brand
Page Industries does not own the Jockey brand. It holds the licence to make and sell it in India and a handful of neighbouring markets, and on the back of that licence it built one of the most richly valued consumer stocks on the NSE. This case study takes the business apart: how the licensing model works, why premium innerwear in India turned out to be such a good market to dominate, and the manufacturing, distribution and return-on-capital numbers that made investors happy to pay 60 to 80 times earnings. Then it does the valuation work properly. What a premium P/E actually assumes, how to run a reverse DCF on a stock like this, how to compare it fairly with other consumer names, and how to price the risk of a business built on someone else's brand. Finally it looks at the slowdown that began in 2022, the inventory reset that followed, and what the de-rating teaches about paying up for quality. Built for investors who hold, or are tempted by, expensive consumer stocks and want a repeatable way to judge whether the premium is earned.
- How a brand licensing business makes money, and what it gives up by not owning the brand
- Why premiumisation in Indian innerwear created room for a dominant, high-margin player
- How manufacturing control and exclusive distribution translated into high ROCE and strong cash flow
Case Study: Pidilite Industries, Pricing Power in a Niche Market
Pidilite sells a product most people buy once a year and never think about. Yet Fevicol, Fevikwik, M-seal and Dr. Fixit have given it the kind of pricing power that consumer giants many times its size would envy. This case study takes the business apart: how Pidilite splits into Consumer and Bazaar and B2B, why the carpenter and contractor network is the real moat, and why adhesives are an almost ideal pricing power product, a tiny share of the job cost with a huge cost of failure. Then it tests the claim against the numbers: gross margins through VAM and crude oil cycles, the FY22 raw material shock, ROCE, working capital and cash flow read straight off screener.in. Finally it asks what a premium multiple already prices in, where the next leg of growth could come from, and what could break the moat. Built for investors who want a repeatable way to judge pricing power in any stock they own.
- How Pidilite makes money across Consumer and Bazaar and B2B, and why the mix matters
- Why the carpenter and contractor influencer network is harder to copy than a factory or a brand
- The economics that make adhesives and sealants an ideal pricing power product
Case Study: Titan Company, Diversification and Brand Value
Titan started as a watch joint venture between the Tata group and the Tamil Nadu government and became one of the great wealth creators on the NSE, mostly by selling gold jewellery through Tanishq. This case study takes the company apart business by business: how trust became a moat in a largely unorganised jewellery market, how Titan funds gold inventory without drowning in working capital, and which of its diversification bets (watches, eyewear, CaratLane, Taneira and others) actually earned their capital. Then it turns to the numbers and the valuation. What Titan's segment reporting reveals, why the market has paid a premium multiple for years, how much of the return came from earnings growth versus re-rating, and which risks (gold prices, customs duty, competition) could break the story. Built for investors who hold or are considering consumer brand stocks and want a repeatable way to judge brand value and diversification using annual reports and screener.in.
- How Titan makes money, and why jewellery dominates its revenue and profit
- How Tanishq turned trust into a competitive advantage in an unorganised market
- How gold on lease and customer schemes shape jewellery working capital and risk
Practice Drills: Building a DCF Model From Scratch
A practice-first companion to Valuation Methods: DCF, Relative Valuation, and When to Use Each. Instead of more theory, you build a working DCF in Google Sheets from a blank tab: pull ten years of history from screener.in, forecast revenue, margins, capex and working capital, compute free cash flow to the firm, build WACC from the 10-year G-Sec yield, beta and an Indian equity risk premium, add terminal value, and bridge enterprise value to a per-share number you can compare with the NSE price. Then stress-test it with sensitivity tables, bull/base/bear scenarios and a reverse DCF, and finish by building a full model for a company of your choice.
- Lay out a clean, auditable DCF sheet from a blank Google Sheets tab
- Turn ten years of screener.in history into defensible forecast assumptions
- Calculate free cash flow to the firm year by year and reconcile it with reported cash flow
Understanding Economic Moats and Competitive Advantage
A practical guide to identifying, measuring, and valuing durable competitive advantages in Indian listed companies. Built for experienced retail investors, mutual fund investors, and salaried professionals who already read financial statements and want to separate genuinely great businesses from temporarily good ones. Covers the five moat sources (intangibles, switching costs, network effects, cost advantages, efficient scale), how moats show up in ROCE, margins, and cash flows on Screener.in, how moats erode through disruption and regulation, and how to avoid overpaying for quality, using real NSE and BSE listed examples throughout.
Valuation Methods: DCF, Relative Valuation, and When to Use Each
A practical, India-focused course for investors who can already read financial statements and now want to answer the harder question: what is this stock actually worth? Build a DCF from the ground up for an Indian listed company, from free cash flow and cost of equity using Indian government bond yields, through WACC, terminal value and the bridge to value per share. Then learn relative valuation properly: P/E, PEG, EV/EBITDA, P/B and historical valuation bands on screener.in, and how to pick a peer set that is genuinely comparable. Most importantly, learn which method fits which business, from FMCG and IT services to cyclicals, banks and NBFCs, loss-making new-age listings and holding companies. Finish with reverse DCF, common valuation traps, reconciling methods that disagree, and a full case study on a Nifty 50 company that ends in a buy, hold or avoid decision.
Technical Trading
1 course
Technical Analysis — Charts, Patterns & Indicators
A foundational course in technical analysis, covering support, resistance, trend lines, moving averages and key indicators used to read price charts. Shows how to recognize common chart patterns and put them together into a structured trading system.
- Learn the foundation of technical analysis and trend reading
- Study support, resistance, moving averages and key indicators
- Recognize chart patterns and build a trading system
Options & Derivatives
4 courses
Practice Drills: Using Options for Basic Portfolio Hedging
A practice-first companion to Understanding Options as a Hedging Tool for Investors. You already know what a protective put, a collar, and portfolio beta are; this course makes you work them with real numbers. Starting from a live NSE option chain, you will drill the floor and cost of a protective put, compare strikes and expiries, estimate your portfolio's beta from mutual fund factsheets, size a Nifty hedge in lots, build a zero-cost collar, add up the true all-in cost of protection, and decide when to roll, hold, or let a hedge expire. Built for experienced retail investors, mutual fund investors, and salaried professionals who want a repeatable, calculator-backed routine for protecting a portfolio around budgets, elections, and results season, without turning into full-time F&O traders.
- Read an NSE option chain the way a hedger does, focusing on premium, liquidity, and implied volatility
- Calculate the floor, breakeven, and cost as a percentage of portfolio for any protective put
- Compare protection across strikes, expiries, and India VIX regimes before you pay for it
Understanding Options as a Hedging Tool for Investors
A concept-first course on options as insurance for people who already own stocks and mutual funds. Built for experienced retail investors, mutual fund investors, and salaried professionals who want to understand when and how to protect a portfolio without turning into F&O traders. Covers the hedger's mindset, protective puts, hedging a mutual fund portfolio with Nifty options, covered calls and collars, the real costs, margins, and taxes of hedging in India, and a clear framework for when hedging is worth it. Uses NSE contracts, India VIX, real Indian market events, Zerodha costs, and SEBI's F&O rules throughout.
- Tell the difference between using options to hedge and using them to speculate, and why the mindset changes every decision
- Treat a put option as an insurance policy, mapping strike, premium, and expiry to deductible, cost, and term
- Hedge a diversified stock or mutual fund portfolio with Nifty options by adjusting for beta and sizing the number of lots
Futures & Derivatives Explained
An introduction to derivatives and futures contracts, covering how futures are priced and the mechanics behind a futures trade. Explores common futures strategies alongside real market rules and famous blowups that show why risk management matters.
- Learn what derivatives are and how futures contracts work
- Understand futures pricing and common trading strategies
- Study market rules and famous blowups to manage risk
Options Trading from Zero
A beginner's guide to options trading, covering what options are, how to read an options chain and the basics of buying your first option. Introduces core options strategies, option pricing, the Greeks, and the trading rules every new options trader needs to know.
- Understand what options are and how they get priced
- Read an options chain and buy your first option
- Learn basic strategies, the Greeks and key trading rules
Quantitative Finance
25 courses
Case Study: Analyzing a Momentum Strategy's Performance Across Market Cycles
A backtest that shows 18 percent CAGR over twenty years tells you almost nothing until you know where those returns came from and when they disappeared. This intermediate case study takes a completed cross-sectional momentum strategy on the Nifty 500 universe, the same 12-1 monthly rebalanced design built in our beginner backtesting course, and puts it through the analysis a prop desk or quant fund would run before allocating capital. You will define Indian market regimes from 2005 to 2025 using rules rather than hindsight, slice the track record by bull, bear, sideways and recovery phases, dissect the momentum crashes of 2009 and 2020, measure drawdown depth against duration, run rolling Sharpe and beta, attribute returns to sectors, size and style factors, and price the STT, brokerage and short-term capital gains tax that vary with turnover across cycles. The course ends with the performance memo a hiring manager expects, and a verdict on what should change before the strategy runs with real money.
- How to define bull, bear, sideways and recovery regimes for Indian equities with transparent rules that cannot be tuned in hindsight
- How to compute conditional returns, hit rates and turnover for a momentum portfolio inside each regime, and why the averages hide the story
- Why momentum crashes when markets rebound sharply, using the 2009 and 2020 Nifty recoveries as worked examples
Case Study: Comparing Systematic Strategy Performance Pre and Post Covid
March 2020 split the Indian market into two worlds. Volatility, correlation, liquidity and the retail investor base all changed within weeks, and every systematic strategy that had been tuned on the calm years before it was suddenly running on unfamiliar ground. This case study walks through how momentum, mean reversion, trend following and low volatility strategies behaved across the pre Covid, crash, recovery and post Covid windows on NSE, how to measure that behaviour honestly after costs, and how to diagnose why the numbers moved. Built for aspiring quant analysts, prop desk applicants and discretionary traders who are systematising their process and need to show they can evaluate a strategy across regimes rather than on one lucky backtest.
- Split a market history into defensible regime windows and justify the boundaries with data rather than hindsight
- Compute and interpret CAGR, Sharpe, Sortino, maximum drawdown, rolling returns and time under water for a systematic strategy
- Explain why momentum, mean reversion, trend following and low volatility behaved so differently across the Covid crash and recovery on NSE
Case Study: How LTCM's Statistical Arbitrage Strategy Failed
In 1998 a hedge fund run by two Nobel laureates and Wall Street's best bond arbitrageurs lost roughly USD 4.6 billion in under five months and had to be rescued by a Federal Reserve-brokered consortium of 14 banks. Long-Term Capital Management's edge was relative-value and convergence trading, the direct ancestor of today's statistical arbitrage: buy the cheap twin, sell the expensive one, wait for the spread to close. This case study rebuilds the trades, the leverage and the risk models, walks through the Russian default and the August-September 1998 unwind, and dissects why a strategy that was right on average still blew up. Built for aspiring quant analysts, prop desk applicants and traders systematizing a pairs or spread strategy, with every lesson mapped to NSE pairs trades, arbitrage funds, SEBI margining and Indian liquidity crises.
- Explain how LTCM's convergence trades worked, from on-the-run versus off-the-run Treasuries to the Royal Dutch/Shell pair, and how they relate to modern statistical arbitrage
- Reconstruct how roughly USD 4.7 billion of equity supported a balance sheet above USD 100 billion and over USD 1 trillion of derivatives notional
- Trace the Russian default of August 1998 and the flight to liquidity that pushed every LTCM spread wider at the same time
Case Study: Reconstructing a Simple Machine Learning Model for Stock Direction Prediction
A hands-on case study for quant analyst aspirants, prop trading applicants and traders who want to systematise their process. We take a typical claim you will see on social media, a simple machine learning model that 'predicts next-day Nifty direction with high accuracy', and reconstruct it step by step in Python on real NSE data. Along the way you will frame direction prediction as a classification problem, build labels and features correctly, catch the look-ahead leakage that inflates most published results, train logistic regression and random forest models with walk-forward validation, and judge them with the right metrics instead of raw accuracy. The course ends by turning predicted probabilities into a trading rule, subtracting real Indian costs on Nifty futures, testing the edge across regimes like 2020 and 2022, and delivering an honest verdict on what a simple ML model can and cannot do.
- Why stock direction models look so impressive in screenshots and what questions to ask before believing any accuracy claim
- How to frame next-day or next-week direction as a supervised classification problem with clean, well-defined labels
- How to build a Nifty 50 daily dataset in Python and engineer features such as lagged returns, RSI, moving average gaps and India VIX
Case Study: The 2018 Volmageddon Event, A Volatility Strategy Post Mortem
On 5 February 2018 the VIX more than doubled in a single session and XIV, an exchange-traded note that had returned hundreds of percent by selling volatility, lost over 90 percent of its value after the closing bell. It was not a black swan. It was the predictable result of a strategy with negative convexity, a product that had to buy exactly what was spiking, and a crowd that had mistaken a long calm stretch for low risk. This intermediate case study rebuilds the event the way a risk desk would: the VIX futures term structure that made the trade look like free money, the daily rebalancing maths that turned a bad day into a terminal one, the acceleration clause that ended XIV, and the risk metrics that hid the tail. Then it turns the lens on India, where short straddles and strangles on Nifty and Bank Nifty options are the same trade in local clothing, and on the India VIX shocks of March 2020 and 4 June 2024. You finish with a post-mortem memo and a deployment checklist for any short-volatility strategy.
- Why selling volatility produced smooth, high returns from 2012 to 2017 and why that smoothness was itself the warning
- How the VIX, VIX futures and contango worked together to create the roll yield that short-vol products harvested
- How daily-rebalanced inverse volatility ETNs were forced to buy VIX futures into a spike, and how to compute that rebalancing need yourself
Case Study: Using Monte Carlo Simulation to Estimate Portfolio Value at Risk
An end-to-end case study for quant analyst aspirants, prop trading applicants, and systematizing traders. You follow one ₹1 crore portfolio of Nifty 50 stocks and a gold ETF from raw NSE price data to a finished risk memo: estimating the covariance matrix, correlating random shocks with Cholesky decomposition, choosing between normal and fat-tailed distributions, simulating 10,000 scenarios in Python, extracting VaR and Expected Shortfall, then backtesting, stress testing, and decomposing the result the way a real risk desk would.
- Build a Monte Carlo VaR model for a real multi-asset Indian portfolio from scratch
- Estimate volatilities and a covariance matrix from NSE price history
- Use Cholesky decomposition to generate correlated return scenarios
Introduction to Machine Learning for Trading: What Actually Works
A clear-eyed, myth-busting path into using machine learning for trading, built for quant analyst aspirants, prop trading applicants, and traders looking to systematize their process. Covers where ML actually adds value versus where it is just curve-fitting in disguise, correct problem framing (prediction vs signal vs execution), the data leakage and look-ahead traps that quietly wreck most beginner models, honest model selection between linear, tree-based, and deep learning approaches, and how a validated signal turns into a strategy once transaction costs and slippage are accounted for. Built on real NSE and BSE data, with Python throughout.
- Why most 'ML for trading' claims online are curve-fitting dressed up as skill, and how to tell the difference
- How to frame a trading problem correctly before touching a single model: prediction vs signal vs execution
- How to spot and eliminate data leakage and look-ahead bias in your features and labels
Introduction to Monte Carlo Simulation in Quantitative Finance
A hands-on, formula-first introduction to Monte Carlo simulation for quant analyst aspirants, prop trading applicants, and systematizing traders. Builds up from randomness and probability fundamentals to simulating stock price paths with Geometric Brownian Motion, pricing options via simulation, and estimating Value at Risk. Grounded entirely in Nifty 50 and Indian market data.
Introduction to Options Pricing Models: Black-Scholes Explained
A rigorous but accessible walkthrough of how options are actually priced, built for aspiring quant analysts, prop trading applicants, and traders who want to move past chart-reading into the math underneath. Covers geometric Brownian motion, risk-neutral valuation, the Black-Scholes formula step by step, and the Greeks that drive real hedging decisions. Uses Nifty and Bank Nifty option chains, India VIX, and Zerodha/NSE data throughout so every formula lands on a real, checkable Indian market number.
Introduction to Portfolio Optimization: Markowitz and Beyond
A rigorous, formula-first path into modern portfolio theory for quant analyst aspirants, prop trading applicants, and systematizing traders. Covers portfolio return and variance, covariance and correlation, the Markowitz efficient frontier, the Capital Market Line and its link to CAPM, and the practical extensions (Black-Litterman, risk parity, factor-based construction) that fix mean-variance optimization's real-world weaknesses. Built entirely on Nifty 50, Nifty Bank, and Nifty IT data.
Introduction to Statistical Arbitrage
A rigorous, from-first-principles path into statistical arbitrage for quant analyst aspirants, prop trading applicants, and traders looking to systematize their trading. Covers market-neutral thinking, correlation and spread construction, the z-score as a trading signal, formal cointegration testing (stationarity, the Augmented Dickey-Fuller test, Engle-Granger), building and running a real pairs trade, dynamic hedge ratios with the Kalman filter, the risk and cost realities that make backtests lie, and a first look at factor-based stat arb with orthogonalization. Built entirely on real NSE and BSE data, with Python throughout.
- How statistical arbitrage isolates alpha from a relationship between two assets instead of a directional market call
- How to build a spread and turn it into a z-score trading signal
- How to formally test whether a pair is cointegrated using the Augmented Dickey-Fuller and Engle-Granger tests
Practice Drills: Building a Basic Portfolio Optimization Model
A practice-drill course for quant aspirants, prop desk applicants and traders who want to systematise how they size positions. You know the Markowitz theory. Here you build the model yourself, with no black-box library doing the thinking for you. You start from five Nifty 50 stocks, build the return and covariance inputs, solve a two-stock minimum variance problem by formula, then solve the full five-stock minimum variance and max Sharpe problems in Google Sheets Solver. You rebuild the same model in Python with NumPy and scipy.optimize, trace and plot the efficient frontier, add weight caps, stress-test how fragile the weights are, and finish by converting optimal weights into a whole-share order list for a ₹5 lakh budget on Zerodha.
- Write any portfolio optimization problem as three pieces: inputs, an objective and constraints
- Build annualised return and covariance inputs for five NSE stocks from daily prices
- Solve two-stock minimum variance weights by formula and check them against a spreadsheet
Practice Drills: Building a Cointegration Test for a Pairs Trade
A hands-on drill course for quant analyst aspirants, prop trading applicants, and traders systematizing their approach. You will take two NSE stocks from raw price data to a defensible pass or fail verdict on cointegration: unit root tests on each leg, an OLS hedge ratio, the Engle-Granger residual test with the right critical values, half-life of mean reversion, and rolling-window stability checks. Every step is worked by hand first, then automated in Python.
- How to pull, clean, and align price data for two NSE stocks so the test is not corrupted by splits, bonuses, or missing days
- How to run and read an Augmented Dickey-Fuller test on each leg, by hand and with statsmodels
- How to estimate a hedge ratio with OLS and test the residual spread for stationarity using the correct critical values
Practice Drills: Building a Simple Classification Model for Price Direction
A hands-on drill course for aspiring quant analysts, prop trading applicants, and discretionary traders who want to systematise. You build a next-day direction classifier for the Nifty 50 from scratch in Python: labelling the data, engineering features without leaking the future, training logistic regression and a decision tree with chronological splits, and scoring the output with confusion matrices, precision, recall, and calibration. The final chapter turns predictions into positions, subtracts real Indian trading costs, and runs the full pipeline end to end on Bank Nifty.
- Turn a raw Nifty 50 price series into a clean up-or-down label and measure the base rate you must beat
- Build lagged return, RSI, moving average and volatility features without look-ahead leakage
- Split time series data chronologically and retrain a model walk-forward
Understanding Factor Investing From a Quant Lens
A rigorous, formula-first introduction to factor investing for quant analyst aspirants, prop trading applicants, and systematizing traders. Covers the theory behind why factors earn a premium, the core factor zoo (value, momentum, size, quality, low-volatility), and the practical mechanics of scoring, backtesting, and combining factors into a portfolio. Grounded in NSE and BSE data, Nifty factor indices, and Indian smart-beta ETFs throughout.
Understanding Implied Volatility and the Volatility Surface
A focused, practitioner-style walkthrough of implied volatility and how it organizes itself into a surface across strikes and expiries. Built for quant analyst aspirants, prop trading applicants, and systematizing traders who already understand Black-Scholes and want to go one level deeper into how real options desks read volatility. Covers IV vs historical/realized vol, the smile and skew, term structure, and how to assemble and interpret a full volatility surface, using Nifty, Bank Nifty, and India VIX data throughout.
Understanding Mean Reversion Strategies
A comprehensive, from-first-principles course on mean reversion for quant analyst aspirants, prop trading applicants, and traders looking to systematize their approach. Covers the statistical logic of reversion (z-score, autocorrelation, half-life, the Ornstein-Uhlenbeck process), single-asset strategies built on Bollinger Bands, RSI, and moving averages, volatility reversion using India VIX, valuation and sector-level reversion, an introduction to pairs-based reversion, and a full Python backtesting workflow. Closes with the failure modes that turn a reversion trade into a falling knife. Built entirely on real NSE and BSE data, with Python throughout.
- Why prices, volatility, and valuations tend to pull back toward a statistical 'normal', and why some things never revert
- How to measure how stretched a price is using z-score, autocorrelation, and half-life of reversion
- How to build and trade single-asset reversion strategies with Bollinger Bands, RSI, and moving averages
Understanding Momentum and Trend Following Strategies
A rigorous, from-first-principles path into momentum and trend following for quant analyst aspirants, prop trading applicants, and traders looking to systematize their approach. Covers what momentum actually is as a market anomaly, how to measure trend with moving averages and crossover systems, momentum indicators like ROC and RSI, and how to build a cross-sectional momentum ranking system in the spirit of Jegadeesh-Titman. Built entirely on real NSE and Nifty data, with Indian brokers, costs, and market structure throughout.
- What momentum is as a market anomaly, and why it persists despite being well known
- The difference between trend following and momentum, and where each idea comes from
- How to build and read moving average crossover systems like the golden cross and death cross
Understanding Numerical Methods in Quantitative Finance: Binomial Trees and Finite Difference Methods
A formula-first, computation-heavy course for quant analyst aspirants, prop trading applicants, and systematizing traders on the two workhorse numerical methods for option pricing: binomial trees and finite difference schemes. Builds from why closed-form Black-Scholes breaks down, through single and multi-step trees, American option early exercise, and on to explicit, implicit, and Crank-Nicolson finite difference methods. Grounded throughout in Nifty 50, Bank Nifty, and NSE stock examples.
Understanding Optimization Theory: Convex Optimization and Lagrange Multipliers for Portfolio Construction
A rigorous, formula-first path into the optimization theory that underlies modern portfolio construction, for quant analyst aspirants, prop trading applicants, and systematizing traders. Builds from the basics of objective functions and constraints, through convex sets and convex functions, gradients and Hessians, Lagrange multipliers for equality-constrained problems, KKT conditions for real-world inequality constraints like no-short-selling, and Lagrangian duality. Every derivation is grounded in Nifty 50 stock data.
Understanding Pairs Trading: Concepts and Cointegration
A focused, from-first-principles course on pairs trading for quant analyst aspirants, prop trading applicants, and traders looking to systematize their approach. Covers market-neutral thinking, spread construction, the z-score as a trading signal, and the formal statistical test that separates a real pairs trade from a coincidence: cointegration, via stationarity, the Augmented Dickey-Fuller test, and the Engle-Granger two-step method. Ends with screening, sizing, and managing a real pair from entry to exit. Built entirely on real NSE and BSE data, with Python throughout.
- How pairs trading isolates alpha from a relationship between two assets instead of a directional market call
- How to build a spread between two stocks and turn it into a z-score trading signal
- Why correlation is not cointegration, and why that distinction decides whether a pair actually mean-reverts
Understanding Position Sizing and the Kelly Criterion
A first-principles guide to position sizing for traders and investors who already have an edge but don't know how much to bet on it. Derive the Kelly Criterion from scratch, learn why full Kelly is too aggressive for real markets, and apply fractional Kelly and portfolio-level sizing to Indian equities, Nifty and Bank Nifty options, and futures.
Understanding Regime Detection in Markets
A concept-first introduction to market regimes for quant analyst aspirants, prop trading applicants, and traders who want to systematize their process. Builds the intuition behind trending vs mean-reverting markets and calm vs stressed volatility, shows how to read regime signals like India VIX, market breadth, and correlation without any modelling, and explains the statistical ideas behind regime detection (Markov-switching, Hidden Markov Models) in plain language before any code is introduced. Grounded in real Indian market history including 2008, 2020, and 2022. A natural on-ramp to the code-first Advanced Regime Switching Models course.
- Explain what a market regime is and why the same strategy behaves differently across regimes
- Distinguish trending from mean-reverting markets and calm from stressed volatility regimes
- Read India VIX, moving averages, market breadth, and correlation as practical regime signals
Understanding Stochastic Calculus: Brownian Motion, Ito's Lemma, and the Path to Black-Scholes
A rigorous, first-principles build-up of the stochastic calculus that underpins modern quant finance, for quant analyst aspirants, prop trading applicants, and systematizing traders who want the actual math, not just the formula. Starts from random walks, builds the Wiener process and its defining properties, develops Ito's lemma from scratch, and uses it to derive the Black-Scholes PDE and formula step by step. Grounded in Nifty and Indian market examples throughout.
Understanding Transaction Costs and Slippage in Backtests
A practical, cost-first look at why backtested returns rarely survive contact with live markets. Covers the full Indian cost stack (brokerage, STT, GST, stamp duty, exchange charges), bid-ask spread and market impact, how to model slippage realistically, why high-turnover strategies suffer more than low-turnover ones, break-even edge analysis, and how to build a cost-aware backtest that won't lie to you. Built for quant analyst aspirants, prop trading applicants, and traders systematizing their own strategies, grounded throughout in NSE and Zerodha-level cost realities.
- Why paper returns and executable returns diverge, and how large that gap typically is
- How to price the full Indian cost stack: brokerage, STT, GST, stamp duty, and exchange charges
- How bid-ask spread and market impact create slippage even before you account for broker fees
Algorithmic Trading
5 courses
Case Study: Building and Testing a Volatility Breakout Strategy on Nifty Options
A hands-on case study that follows a single idea, volatility compression followed by expansion on the Nifty 50, all the way from a written hypothesis to a costed backtest and a paper-trading plan. You will source NSE bhavcopy and India VIX data, build the squeeze and breakout signals in Python, express the view with Nifty options (straddles, directional buys, debit spreads), account for STT, brokerage and slippage, and then stress the results with walk-forward tests and regime splits across the 2020 crash, the 2021 rally and the 2024 election week. Built for aspiring quant analysts, prop trading applicants and discretionary traders who want to systematise.
- Write a falsifiable trading hypothesis before touching data or code
- Source and clean Nifty spot, India VIX and options chain data from NSE bhavcopies
- Build ATR and Bollinger Band Width squeeze signals and a VIX regime filter in Python
Automating Strategies Using Zerodha Kite Connect API
You already know how to log in to Kite Connect, pull data and place an order. This course is about everything that comes after: building a strategy that runs on its own, reliably, inside SEBI's retail algo framework. You will build live candles from ticks, structure strategy logic as a state machine, size positions from live margins, handle partial fills and rejections, code your own kill switch, and deploy the bot on a Mumbai cloud server with a static IP, using a Nifty futures opening range breakout as the running example.
- How to architect an automated strategy as separate data, signal, risk, execution and monitoring layers
- What SEBI's retail algo framework, static IP rules and order-per-second limits mean for your code
- How to build live candles from Kite Ticker ticks and survive disconnects without corrupting your data
Building a Backtesting Engine Using Python and Backtrader
A hands-on build course for traders and aspiring quants who have outgrown spreadsheet and pandas one-liner backtests. You will assemble a complete event-driven backtesting engine on Backtrader: Indian data feeds from CSV and pandas, strategies with proper order handling, commission schemes that reproduce a real Zerodha contract note (brokerage, STT, exchange charges, SEBI fees, GST and stamp duty), slippage and volume rules, position sizers, and NSE futures with lot sizes and margin. You then measure results with built-in and custom analyzers, benchmark against the Nifty 50 TRI, and pressure-test every edge with parameter optimisation, walk-forward splits and Monte Carlo resampling. The course ends with a full momentum rotation backtest on Nifty 50 stocks and a clear map of what changes when a backtest moves toward paper and live trading under SEBI's retail algo framework. Built for quant analyst aspirants, prop desk applicants and systematising traders who can already write basic Python.
- Explain when an event-driven engine beats a vectorised pandas backtest, and why Backtrader is built the way it is
- Load, clean and resample NSE daily and intraday data, including corporate actions, holidays and multiple stocks at once
- Write strategies with correct order handling, custom indicators and no look-ahead bias
Case Study: Backtesting a Pairs Trade on Indian Banking Stocks
A hands-on, end-to-end case study for aspiring quant analysts, prop desk applicants and traders who want to systematise a market-neutral idea. You will take the classic pairs trade, going long one bank and short another when their price relationship stretches too far, and turn it into a working Python backtest on Nifty Bank constituents. Along the way you will learn why correlation is the wrong test and cointegration is the right one, how to estimate a hedge ratio and the half-life of the spread, how to build a z-score signal engine in pandas, and how the two-leg cost stack in India, including STT, SLB borrowing fees and stock futures rollovers, changes the answer. The course ends with a verdict on whether the chosen pair actually paid, and a checklist of what to test before risking a rupee.
- What a pairs trade is, why it is market-neutral in theory and not quite in practice, and why Indian banking stocks are a natural hunting ground
- The difference between correlation and cointegration, and how to run the Engle-Granger and ADF tests on NSE price data in Python
- How to estimate a hedge ratio, build the spread, and measure its half-life so you know how long a trade should take to converge
Practice Drills: Backtesting a Strategy While Accounting for Transaction Costs
A drill course for traders who already understand why costs break backtests and now need to prove it on their own strategies. You will price real Zerodha round trips line by line, code the Indian cost stack and a slippage model in Python, run the same NSE strategy gross and net of costs, find the break-even cost at which its edge disappears, and finish with a full cost-aware backtest and the kind of report a prop desk or quant interviewer expects to see.
- Price a delivery, intraday, futures and options round trip on Zerodha line by line, including STT, exchange charges, GST, SEBI fees and stamp duty
- Turn the Indian cost stack into a reusable Python function that plugs into any backtest
- Estimate slippage from bid-ask spreads and traded volume instead of guessing a flat number
Python for Finance
4 courses
Building a Monte Carlo Option Pricing Model in Python
A build-along course for quant analyst aspirants, prop trading applicants, and systematizing traders who want a real Monte Carlo pricing engine, not a toy script. You will write a vectorised GBM engine in NumPy, validate it against Black-Scholes and the live NSE Nifty chain, cut its error with antithetic, control variate, and Sobol techniques, compute Greeks by simulation, price path-dependent payoffs like the barriers inside Nifty-linked MLDs, move beyond GBM with jump-diffusion and Heston, handle early exercise with Longstaff-Schwartz, and ship the whole thing as a tested, fast Python package.
Building a Pairs Trading Strategy Using Python and Statsmodels
A build course for quant analyst aspirants, prop desk applicants and traders who already know what a pairs trade is and now want to code one properly. You will use statsmodels as your statistics engine: sm.OLS and RollingOLS for hedge ratios, adfuller and kpss for stationarity, coint for Engle-Granger, coint_johansen for multi-stock baskets, an AR(1) regression for half-life, a state space model for a time-varying hedge ratio, and VECM for the adjustment dynamics of both legs. Each tool is taught by reading its actual output, not just calling it. You then scan sector universes from the Nifty 200 for candidates without falling into the multiple testing trap, code a z-score signal engine with no look-ahead bias, backtest it in pandas with the full Indian cost stack, walk it forward, and package the whole thing as a reusable, tested Python module.
- Set up a clean pairs trading project and pull, adjust and align NSE price data for two or more stocks
- Estimate a hedge ratio with sm.OLS and read every line of the regression summary, including the ones that mislead you on price data
- Track hedge ratio drift with RollingOLS and model it directly with a Kalman filter built on statsmodels state space
Building a Portfolio Optimizer Using Python's PyPortfolioOpt
A hands-on build course for quant aspirants, prop desk applicants and traders who want to systematise how they size a portfolio. You already know what an efficient frontier is. This course makes you build one that survives contact with real Indian data. You will pull a clean price panel for Nifty 50 stocks, estimate expected returns three ways, build covariance matrices that are not drowned in noise, and run max Sharpe, minimum volatility and target return optimisations in PyPortfolioOpt with the Indian risk-free rate. You then add the constraints a real portfolio needs (weight caps, NSE sector limits, regularisation, transaction cost penalties), move beyond mean-variance with Hierarchical Risk Parity, Black-Litterman and CVaR, and finally convert weights into whole shares for a real INR budget, backtest the result against the Nifty 50 TRI and account for rebalancing turnover and Indian capital gains tax. The course ends with an end-to-end monthly optimizer pipeline you can rerun yourself.
- Set up a reproducible PyPortfolioOpt project and build a clean, adjusted price panel for NSE stocks
- Estimate expected returns with historical, exponentially weighted and CAPM methods, and know why each one misleads
- Build sample, shrunk, exponential and semicovariance risk models, and check them before trusting them
Building an Options Pricing Calculator Using Python
A hands-on build course for traders and aspiring quants who want to understand where the numbers on an NSE option chain come from. You will write a complete options pricing library in Python: the Black-Scholes formula term by term, all five Greeks in closed form and by finite differences, an implied volatility solver, a binomial tree and a Monte Carlo engine. Every model is tested against real Nifty 50 and Bank Nifty contracts, with Indian conventions handled correctly: the 91-day T-bill as the risk-free rate, lot sizes, weekly and monthly expiry timing, and India VIX as a cross-check on your implied volatility. You finish by packaging the code as a tested module with a Streamlit front end and a strategy payoff tool. Built for systematising traders, prop-desk applicants and quant analyst aspirants who can already read an option chain and want to rebuild it from first principles.
- Set up a clean Python environment for options work with NumPy, SciPy, pandas and pytest
- Prepare the Black-Scholes inputs the Indian way: spot vs futures, T-bill risk-free rate, dividend yield and exact time to expiry
- Code the Black-Scholes pricer and verify it with put-call parity and live Nifty 50 chain prices
Corporate Finance
31 courses
Building a Corporate Bond Issuance Cost Comparison Model
A hands-on build for treasury teams, growth-stage founders and corporate strategy professionals who need to decide how to raise debt in India. The coupon is only the headline: arranger fees, credit ratings, stamp duty, debenture trustee and listing charges, the recovery expense fund, GST and ongoing surveillance costs all move the real number. This course maps every cost line for a listed NCD issue on the NSE and BSE EBP platforms, then builds an Excel model from scratch that turns those costs into an all-in pre-tax and post-tax cost using IRR and XIRR. It then adds term loans, commercial paper and ECBs with hedging, compares them side by side, stress-tests the answer across rating, tenor and issue size, and closes with a full case study and a board-ready recommendation.
- Why the coupon understates the true cost of a bond and how to calculate the all-in cost
- Every upfront and ongoing cost line in an Indian NCD issue, from arranger fees to the recovery expense fund
- How to build a bond cash flow schedule and compute all-in cost with IRR and XIRR in Excel
Building a Foreign Exchange Hedging Tracker in Excel
A hands-on build for treasury and finance teams, growth-stage founders with import or export exposure, and strategy teams who need to see what a rupee move does to the plan. Starts with how FX risk actually hits an Indian company's P&L, the three types of exposure, the hedging instruments available onshore, and the RBI framework that governs who can hedge what. Then builds a working Excel tracker from a blank workbook: an exposure register, a forward contract hedge book, and reference rates from FBIL and forward premium data. From there it covers mark-to-market valuation, hedge ratios, currency options and NSE/BSE currency futures, and realised versus unrealised gains on settlement, before closing with a treasury dashboard, rupee stress scenarios, Ind AS 109 hedge accounting basics, and the controls that keep the tracker audit-ready.
- How transaction, translation and economic FX exposure show up in an Indian company's numbers
- Which hedging instruments Indian businesses can use and the RBI rules that govern them
- How to build an exposure register and forward contract hedge book in Excel from scratch
Building a Term Sheet Negotiation Checklist and Tracker
A hands-on course for the people who actually sit across the table when an Indian company raises money or takes a strategic investment: growth-stage founders, CFOs and treasury teams, and corporate strategy and BD teams. Starts by breaking an Indian term sheet into its economic, control and regulatory terms, including CCPS structures, FEMA pricing rules and the clauses that survive into the shareholders' agreement. Then builds two working tools in Google Sheets or Excel: a negotiation checklist that records the market standard, your position and your walk-away point for every clause, and a tracker that logs redlines, owners, status and conditions precedent across every draft. Closes with how to sequence concessions, manage multiple investors, carry the tracker through the SHA and SSA, and turn it into a post-closing compliance calendar.
- How to read an Indian term sheet clause by clause and separate economic terms from control terms
- How to build a negotiation checklist with market standard, target position and walk-away point for every clause
- How to model liquidation preference and anti-dilution outcomes in a spreadsheet before you agree to them
Building an FP&A Dashboard Using Excel and Power BI
A hands-on, India-specific course for finance and treasury professionals, growth-stage founders and strategy teams who need a monthly management dashboard that people actually use. Start by choosing the right FP&A KPIs and designing the dashboard on paper. Pull ledger data out of Tally, Zoho Books or an ERP, map it to a clean chart of accounts, and shape it with Power Query while handling the April to March financial year and lakhs and crores formatting. Build budget vs actual variance analysis, driver-based rolling forecasts and a one-page Excel dashboard. Then move to Power BI: model finance data as a star schema, build a fiscal-year date table, and write the DAX measures FP&A needs, from YTD and prior-year comparisons to budget variances. Finish by designing P&L, cash and working capital pages, adding drill-through and bookmarks for management reviews, publishing with scheduled refresh and row-level security, and building a full monthly FP&A pack for an Indian D2C brand.
Case Study: A Corporate's FX Hedging Strategy During Rupee Volatility
A decision-by-decision case study built for CFOs and treasury teams, growth-stage founders with dollar revenue or dollar costs, and corporate strategy and BD teams who need to understand what currency risk does to a plan. We follow an illustrative Indian mid-sized manufacturer that exports in dollars, imports raw material in dollars and carries a foreign currency loan, through a period of sharp rupee depreciation. Start by mapping its transaction, translation and economic exposure and seeing exactly how a rupee move flows into margins, covenants and cash. Then build the board-approved hedging policy, price a forward from interest rate parity, compare bank forwards, NSE currency futures, options and cross-currency swaps, and work through the RBI rules that govern who can hedge what. Walk through the volatility episode one decision point at a time, then close with Ind AS 109 hedge accounting, a hedged versus unhedged scorecard, the mistakes Indian corporates have made with exotic structures, and a playbook your own treasury can adopt.
- How to map a company's transaction, translation and economic FX exposure and net it before hedging anything
- How to write a hedging policy with clear objectives, hedge ratio bands, tenor limits, approved instruments and counterparty limits
- How to price a USD/INR forward from interest rate parity and read the forward premium as a cost or a gain
Case Study: How Zomato Structured Its Series G Round Before IPO
A deal-structuring case study built around Zomato's September 2015 Series G, the $60 million round led by Temasek with existing investor Vy Capital. Start with why a restaurant discovery app burning cash across more than 20 countries needed late-stage capital, then open up the term sheet: why foreign investors in India take compulsorily convertible preference shares instead of plain equity, how liquidation preferences and anti-dilution clauses protect them, and how pre-money, post-money and the ESOP pool shape the fully diluted cap table. Trace how those protections behaved through the valuation markdowns of 2016 and 2017, the pivot to food delivery, the Ant Financial rounds, the share-swap acquisition of Uber Eats India and the Tiger Global era rounds of 2020 and 2021. Then watch the clean-up: conversion to a public company, the bonus issue, CCPS conversion under SEBI ICDR rules, listing with no identified promoter, and the ESOP rework. Close by working out the multiple each round earned at the IPO price and building a pre-IPO structuring playbook. Written for corporate finance and treasury professionals, growth-stage founders and corporate strategy teams.
- Explain why late-stage foreign investors in Indian startups hold CCPS rather than equity shares, and what FEMA pricing rules require
- Model how a liquidation preference and a weighted average anti-dilution clause change payouts and share counts
- Build a fully diluted cap table across pre-money, post-money and ESOP pool changes
Case Study: How a Company Restructured Debt During a Downturn
Most companies do not die from losses. They die when debt falls due and there is no cash to pay it. Suzlon Energy is the clearest Indian example of a company that hit that wall, twice, and survived. This case study follows the Pune wind turbine maker from its debt-funded global expansion through the downturn that followed, the 2012 foreign currency convertible bond default, the Corporate Debt Restructuring package, the sale of its German crown jewel, a second restructuring under RBI's prudential framework, and finally the rights issue, QIP and refinancing that made it net debt free. Along the way you learn the full restructuring toolkit: maturity extension, repricing, moratoriums, debt to equity conversion, asset sales, fresh equity and refinancing, plus the early warning signals that tell a finance team when to act. Built for corporate finance and treasury professionals, growth-stage founders and strategy teams who want to understand how debt stress actually gets resolved in India, not just how it is described in a textbook.
- Tell the difference between a liquidity problem and a solvency problem, and why the fix for each is different
- Trace how an acquisition-led, debt-funded expansion turned into a crisis once the wind energy cycle turned
- Read the stress signals in financial statements: interest cover, debt to EBITDA, working capital days and refinancing walls
Case Study: How a Growth Stage Startup Built Its First FP&A Function
Most Indian startups hit Series B with a good accountant, a CA firm for compliance and no one whose job is to look forward. This case study follows a composite Bengaluru D2C home brand, roughly ₹120 crore in revenue, from the board meeting where its cash runway turned out to be months shorter than anyone thought, to a working FP&A function eighteen months later. You will see how the founders defined what FP&A should and should not do, when and whom they hired, how they fixed a messy chart of accounts and month-end close in Tally and Zoho Books, and which unit economics they chose to track. Then you will walk through the core models they built: a driver-based operating model, a 13-week cash flow forecast and scenario-based runway planning. Finally you will see the operating rhythm that made it stick, from the first annual operating plan to monthly business reviews, variance analysis and the board pack, and finish with the mistakes, trade-offs and a playbook you can apply to your own company.
- What FP&A does in a growth stage company and how it differs from accounting and compliance
- When to hire the first FP&A person, what profile to look for and where the role should report
- How to fix the data foundations: chart of accounts, month-end close and a single source of truth
Case Study: How a Startup Valued Its ESOP Pool Before a Funding Round
Almost every Indian Series A term sheet carries one line that quietly moves crores of value: the ESOP pool clause. Investors ask for a larger pool, created before their money comes in, and the founders pay for it. This case study follows Neelgiri Labs, an illustrative Bengaluru B2B SaaS startup built from real Indian market practice, through the six weeks between receiving its term sheet and closing the round. You size the pool from a real hiring plan, benchmark it against disclosed Indian startup pools, and work through the option pool shuffle to find the effective pre-money valuation the founders actually got. Then you put a number on the options themselves: fair market value under Rule 11UA and a registered valuer report, a Black-Scholes value with defensible inputs for an unlisted company, and the total pool cost that flows into the P&L under Ind AS 102. The course closes with exercise pricing, perquisite tax, Companies Act approvals, the post-round cap table and the mistakes founders and CFOs make most often. Built for corporate finance and treasury professionals, growth-stage founders and strategy teams who sit on either side of that negotiation.
- Explain why investors ask for the ESOP pool to be created pre-money, and who really bears that dilution
- Size an ESOP pool bottom-up from a 24-month hiring plan and sanity-check it against Indian startup benchmarks
- Calculate the effective pre-money valuation after the option pool shuffle and negotiate it with numbers, not adjectives
Case Study: Investor Relations Lessons From a Company's IPO Roadshow
Investor relations does not start on listing day. It starts months earlier, when a company first has to explain to strangers why its business deserves their money at a particular price. This case study follows a composite Gujarat-based specialty chemicals manufacturer, roughly ₹1,800 crore in revenue and backed by a private equity fund, through a ₹1,500 crore IPO combining a fresh issue and an offer for sale. You will see how the company and its book running lead managers turned a DRHP into an equity story, chose the KPIs and peer set it would be judged against, stayed within SEBI's publicity rules, ran early-look and pre-deal investor education, and then took the story on the road through anchor, QIB and one-on-one meetings in Mumbai, Singapore, London and New York. You will follow the price band decision, the anchor book, the subscription data and listing day, and compare the outcome with public examples such as Paytm and Nykaa. Finally you will see how the same discipline carries into life as a listed company: the first earnings call, disclosure obligations under SEBI's LODR Regulations, anchor lock-in expiry and building a permanent IR function. Built for corporate finance and treasury professionals, growth-stage founders and strategy teams who will one day sit across the table from institutional investors.
- Explain what an IPO roadshow is, who runs it and why investor relations begins well before listing
- Turn a DRHP into a clear equity story backed by KPIs and a defensible peer set
- Build an investor presentation and stay inside SEBI's rules on publicity and forward-looking statements
Case Study: Transfer Pricing Dispute Between an Indian Subsidiary and Its Parent
Follow an illustrative Indian subsidiary of a foreign parent through a full transfer pricing dispute, from the pricing decisions that started it to the audit, the adjustment, the appeals and the settlement. Along the way, learn India's arm's length rules under Sections 92 to 92F of the Income-tax Act, how Form 3CEB and TP documentation work, how a Transfer Pricing Officer benchmarks your margins against comparables, and why royalty, management fees, marketing spend and share issues to the parent are the most fought-over items. The case is anchored in real Indian rulings including Maruti Suzuki, LG Electronics, Sony Ericsson, Vodafone India and Shell India, and ends with a practical playbook covering APAs, safe harbour and documentation discipline for CFOs and founders.
- Explain the arm's length principle and when India's transfer pricing rules apply to a subsidiary
- Read a Form 3CEB and understand what TP documentation must prove
- Follow how a Transfer Pricing Officer selects comparables and computes an adjustment
Introduction to Corporate Governance for Growing Companies
A practical, India-specific guide to corporate governance for founders, CFOs, treasury teams, and strategy and BD professionals at companies that are scaling fast. Learn what governance really means beyond compliance checklists, why it breaks down at scale through cases like Byju's, BharatPe, and GoMechanic, and how the Companies Act 2013 and SEBI LODR shape your obligations as you grow. Build a board that actually oversees, set up audit and other committees, understand independent directors, internal financial controls, and auditors, and navigate shareholder rights, investor protections in term sheets, dual-class structures, and related party transactions. Cover disclosure, insider trading rules, whistleblower mechanisms, and risk management, then finish with a stage-by-stage governance roadmap from seed to IPO readiness.
Introduction to Corporate Restructuring and Its Triggers
An India-specific guide to why companies change their shape and how they do it, built for corporate finance and treasury professionals, growth-stage founders, and strategy and business development teams. Learn the four families of restructuring (portfolio, financial, organisational and operational) and the triggers behind each: conglomerate discounts, leverage and liquidity crunches, regulatory and tax changes, technology disruption, and promoter succession. Spot the early warning signs in financial statements, rating actions, auditor remarks and exchange filings. Then walk through the Indian toolkit: mergers, demergers, slump sales, buybacks and capital reduction, and debt restructuring from one-time settlements to the IBC, along with the Companies Act, NCLT and SEBI road map every listed deal must follow. Finish by weighing who wins and who loses, why restructurings fail, and a trigger-to-toolkit framework you can apply to your own company. Uses real NSE and BSE cases like the Tata Motors demerger, Vodafone Idea's debt-to-equity conversion, Essar Steel's insolvency resolution and ITC Hotels, with screener.in and exchange filings throughout.
Introduction to Financial Planning and Analysis (FP&A) as a Function
Every listed Indian company gives earnings guidance, sets an annual operating plan and explains its quarterly misses to analysts. The team behind all of that is Financial Planning and Analysis. This course explains FP&A as a function: where it sits next to accounting, controllership and treasury, what it produces, and how its work drives real decisions. You follow the full planning cycle as it runs in India, from the April to March financial year and the annual operating plan to rolling forecasts and the monthly business review. You learn the core outputs every FP&A team owns: budgets built from driver-based models, variance analysis that explains the gap between plan and actual, and the KPIs and unit economics that leadership watches. Then you move beyond the numbers to business partnering, scenario planning, capital allocation and the tools Indian FP&A teams actually use, before closing with how the function is structured from startup to conglomerate and how to build a career in it. Built for corporate finance and treasury professionals, growth-stage founders and strategy and business development teams who need to plan, measure and explain performance.
- Explain what FP&A does and how it differs from financial accounting, controllership and treasury in an Indian company
- Walk through the Indian planning calendar, from the annual operating plan to the monthly business review and quarterly results
- Build a budget from business drivers instead of last year's numbers plus a percentage
Introduction to Foreign Exchange Risk Management for Corporates
A practical, India-specific introduction to foreign exchange risk for treasury and finance teams, growth-stage founders, and strategy and business development professionals. Learn how the USD/INR market actually works, how banks price the rates you are quoted, and why a rupee move shows up in margins, covenants and valuations. Identify and measure transaction, translation and economic exposure, build a currency exposure map, and size the risk with sensitivity and scenario analysis. Start with hedges that cost nothing, like natural hedging, invoicing currency choices, netting and EEFC accounts, then move to forwards, NSE and BSE currency futures and options, OTC options and collars, and cross-currency swaps on foreign currency borrowings. Understand the RBI rules on what corporates can hedge, how Ind AS 109 hedge accounting keeps hedge noise out of profit and loss, and how to write a board-approved hedging policy. Finish with hedging playbooks by business type, the mistakes that have cost Indian companies crores, and a full exporter case study.
- Explain how the USD/INR market works and decode a bank's FX quote, including the margin hidden in it
- Separate transaction, translation and economic exposure and build a currency exposure map for a business
- Measure FX risk with sensitivity analysis, scenario tests and cash flow at risk
Introduction to Series B and Growth Stage Fundraising
An India-specific guide to raising money after product-market fit, built for growth stage founders, corporate finance and treasury professionals, and strategy and business development teams who sit across the table from growth investors. Learn what actually changes between Series A and Series B, why the bar shifts from promise to proof, and who writes growth cheques in India: growth VCs, crossover funds, sovereign and pension funds, private equity and corporate strategic investors. Master the growth stage scorecard of revenue quality, net revenue retention, cohorts, contribution margin, CAC payback, burn multiple and the Rule of 40, and build the data room and financial model that survives diligence. See how growth valuations are set using revenue multiples and listed comparables on NSE and BSE, how primary and secondary components split the money, how down rounds and structured deals work, and when venture debt helps or hurts. Read growth term sheets with stacked liquidation preferences, ratchets and investor rights, understand syndicate dynamics and pro rata, and navigate the Indian regulatory layer for large rounds: FDI routes, pricing guidelines, Press Note 3 and CCI approval. Finish with deploying growth capital, the road to Series C and an IPO, and a case study following one Indian SaaS company from Series B to Series C.
Practice Drills: Building a Debt Restructuring Scenario Model
A practice-first course for anyone who has to sit across the table from lenders when the numbers stop working. You will build a debt restructuring scenario model in Excel or Google Sheets from a blank sheet: a tranche-by-tranche debt schedule, a cash flow and DSCR engine, and a set of levers covering tenor extension, principal moratorium, interest rate resets, funded interest, one-time settlements, haircuts and debt-to-equity conversion. Then you will stress it, size sustainable debt from cash flow capacity, compare lender recovery against the IBC alternative, and track what each plan does to the promoter's stake. Every drill uses Indian context: RBI's Prudential Framework for stressed assets, inter-creditor agreements, NCLT timelines and INR numbers. Built for treasury and corporate finance professionals, growth-stage founders carrying term or venture debt, and strategy and BD teams evaluating distressed opportunities.
- Lay out a multi-tranche debt schedule with repayments, interest and covenants that recalculates from a few inputs
- Build a base case cash flow and track DSCR and net debt to EBITDA year by year
- Model tenor extension, principal moratorium, rate resets and funded interest term loans as switchable levers
Practice Drills: Building a Foreign Exchange Exposure Assessment
A practice-first course for treasury teams, founders and strategy professionals who need to answer one question with numbers: how much does a move in the rupee actually cost this business? You will work through Indian annual reports, Ind AS 21 and Ind AS 107 disclosures, and realistic exporter and importer books to build a currency-wise exposure register, net natural hedges, bucket exposures by maturity, run rupee sensitivity and stress scenarios, and separate transaction, translation and economic exposure. The course closes with full drills on an IT services exporter and an importer carrying foreign currency debt, and a one-page exposure assessment you can put in front of a CFO or board. Educational content only, not investment or hedging advice.
- Locate foreign currency risk disclosures in an Indian annual report and read the unhedged exposure table correctly
- Build a currency-wise, maturity-bucketed exposure register from receivables, payables, orders and loans
- Net natural hedges across exports, imports and foreign currency debt without double counting
Practice Drills: Building an FP&A Variance Analysis Report
A practice-first course for corporate finance and treasury professionals, growth-stage founders and strategy teams who own the monthly budget vs actual conversation. You already know what a budget is; this course makes you explain why the numbers missed it. Working with sample data from Indian businesses, from a D2C brand selling on its own site, Amazon and Flipkart to a mid-sized manufacturer, you will structure budget and actual data for a clean comparison, split revenue variances into price, volume and mix, drill material, employee cost and opex variances, flex the budget to separate volume effects from true overspends, and build gross margin, EBITDA and cash bridges. Then you write the report itself: set materiality thresholds, draft commentary that names causes and owners, build a one-page summary with a waterfall chart, and turn variances into reforecast actions. Three full drills close the course, including reviewing and fixing a flawed variance report.
- Structure budget and actual data so every line compares like with like, across the April to March financial year
- Apply a consistent favourable and adverse sign convention across revenue and cost lines
- Split revenue variance into price, volume and mix effects, by product, channel and region
Practice Drills: Comparing Corporate Bond vs Bank Loan Financing Costs
A practice-first course for treasury teams, growth-stage founders, and corporate strategy professionals who have to answer one recurring question: should we borrow from the bank or issue bonds? The headline rate on a sanction letter and the coupon on an NCD term sheet are never the real cost. You will drill every layer that sits between them and the number that matters: MCLR, EBLR and T-Bill linked resets, processing fees, prepayment charges, margin money and collateral, arranger and rating fees, stamp duty, trustee and listing costs, rating-driven spreads over G-Secs, and the EBP platform route for private placements. Then you will bring both options onto one footing with XIRR, post-tax cost, cash flow profile and refinancing risk, and weigh the non-price costs such as covenants and flexibility. Every drill uses Indian instruments, rupee figures, and the documents an Indian finance team actually works from.
- Build a single all-in cost worksheet that works for both a bank loan and a bond issue
- Convert MCLR, EBLR and T-Bill linked loan pricing into an effective annual rate, including fees and resets
- Put a rupee cost on collateral, margin money, and prepayment penalties
Practice Drills: Drafting an Investor Update Email for a Growth Stage Company
A practice-first course on the one document that decides how your investors feel about you between funding rounds. You will draft investor updates section by section for Indian growth stage companies: picking the metrics that matter, writing an opening summary a partner reads in thirty seconds, reporting revenue, burn and runway in INR without spin, showing unit economics and cohorts behind the headline, and writing asks that get real help. Then you drill the hard ones: a missed quarter, layoffs, a pivot or a down round, plus what should never go into an email at all. Built for growth stage founders, finance and treasury teams who prepare the monthly MIS, and strategy teams who own investor communication.
- Structure a monthly or quarterly investor update that a busy partner can read in under two minutes
- Choose and present the six core metrics a growth stage investor expects, with consistent definitions month to month
- Report revenue, gross margin, burn and runway in INR without flattering the numbers
Practice Drills: Preparing a Transfer Pricing Documentation Summary
A practice-first course for finance and treasury teams, founders and strategy professionals who have to produce, review or sign off on an Indian entity's transfer pricing documentation. You will map a group's international and specified domestic transactions, write a functional, asset and risk (FAR) analysis, characterise the Indian entity, pick the most appropriate method under Rule 10B, run a comparables search with accept-reject filters, and compute the arm's length range under Rule 10CA. Dedicated drills cover royalty and management fees, intercompany loans and guarantees, and safe harbour eligibility. The course closes with full documentation summaries for an IT services captive and a brand distributor, reconciled against Form 3CEB and the Master File. Educational content only, not tax or legal advice.
- Identify which transactions need transfer pricing documentation and which thresholds apply
- Write a FAR analysis and characterise an Indian entity in a way that survives TPO scrutiny
- Choose and defend the most appropriate method from the six recognised under Indian rules
Practice Drills: Structuring a Term Sheet Redline and Negotiation Response
A practice-first companion to Building a Term Sheet Negotiation Checklist and Tracker. You already know what liquidation preference, anti-dilution, reserved matters and CCPS are; this course makes you redline them. Working from sample Indian term sheets, you will triage an incoming draft, build a position sheet before touching the document, then drill the markup of every clause that matters: valuation and the ESOP pool, liquidation preference, anti-dilution, exit rights and put options under FEMA, reserved matters, board composition, founder vesting, exclusivity and conditions precedent. Then you drill the response itself: the cover note, the concession ladder, the investor's second turn and a strategic investor's term sheet from the corporate BD side. Built for growth-stage founders, CFOs and treasury teams, and corporate strategy and BD teams who have to produce the redline, not just read it.
- Triage an incoming term sheet in 30 minutes and rank which clauses deserve your negotiating capital
- Build a redline position sheet with an opening ask, a target and a walk-away for every clause before you mark up the draft
- Redline valuation, ESOP pool, liquidation preference and anti-dilution clauses and quantify what each change is worth in rupees
Practice Drills: Valuing a Sample ESOP Grant Using Black-Scholes
A practice-first course built around one sample ESOP grant that you value from scratch. You start with the grant letter itself: grant date, exercise price, vesting schedule and expiry, and why the option sitting inside it behaves like a call option with a few important differences. Then you build each of the six Black-Scholes inputs the way an Indian finance team actually does: share price for listed and unlisted companies, expected term, volatility from NSE price history or a peer set, and the risk-free rate from the G-Sec curve. You run the formula by hand, value a graded vesting grant tranche by tranche, stress test the inputs, and finish by turning fair value into the Ind AS 102 expense schedule, including forfeitures and true-ups. Built for corporate finance and treasury teams, growth stage founders managing an ESOP pool, and strategy teams who need to read an ESOP valuation report critically.
- Read an ESOP grant letter and extract every term that affects its fair value
- Explain why an ESOP is valued as a call option and where that analogy needs adjustment
- Build all six Black-Scholes inputs for a listed or unlisted Indian company and defend each one
Understanding Corporate Bond Issuance and Debt Markets
A clear, practical guide to how corporate bonds actually get issued in India, written for treasury teams, growth-stage founders and corporate strategy professionals. Starting from why a company would borrow from the bond market instead of a bank, it walks through the anatomy of an NCD, the SEBI rulebook, private placements versus public issues, credit ratings, arrangers and price discovery on the NSE and BSE Electronic Book Provider platforms. It then explains how a bond is priced against the G-Sec curve, what drives the credit spread, how bonds trade and fail after issue, and where commercial paper, market-linked debentures, green bonds and masala bonds fit. It closes with a step-by-step plan for a company's first bond issue.
- Why companies choose bonds over bank loans and what an NCD term sheet actually contains
- Who buys Indian corporate bonds and what each investor class looks for
- How SEBI's NCS Regulations shape private placements and public issues
Understanding Corporate Capital Structure Decisions
An India-focused, intermediate course on how companies decide the mix of debt and equity that funds them, built for treasury and corporate finance professionals, growth-stage founders and strategy teams. Measure leverage the way lenders and rating agencies do, then work through the theory that drives real boardroom decisions: Modigliani-Miller, the tax shield, trade-off theory, pecking order, signalling and agency costs. Estimate the cost of equity and debt for an Indian company, build a WACC, re-lever beta and see why an optimal capital structure is a range rather than a point. Study the Indian reality of financial distress, from promoter pledging and holding company debt to lease liabilities under Ind AS 116 and the collapses of IL&FS, DHFL and Jet Airways. Understand how dividends, buybacks, rights issues and asset sales reshape the balance sheet, and finish with a practical framework for setting target leverage, a walkthrough of reading capital structure choices on screener.in and in annual reports, and a case study of two Indian companies with opposite philosophies of leverage.
Understanding Investor Relations for Growth Stage Companies
A practical guide to investor relations for Indian growth-stage companies, written for founders, CFO and treasury teams, and corporate strategy professionals. It starts with what IR actually does and who the audiences are, then follows a company through its lifecycle: investor updates and board packs while private, building the equity story and KPI set before an IPO, and the SEBI rulebook that governs every word a listed company says. It then covers the quarterly earnings machine, the guidance question, analyst coverage and consensus, communicating bad news, lock-in expiries and shareholder base management, and closes with how to build and measure an IR function, using real examples from India's new-age listings.
- What investor relations does and why it matters more for growth companies than mature ones
- Who the investor audiences are in India and what each one wants from management
- How to report to private investors and build an equity story before an IPO
Understanding Term Sheets: Key Clauses Founders Must Know
A clause-by-clause, India-specific guide to the venture capital term sheet, built for growth-stage founders, corporate finance and treasury professionals, and strategy and BD teams who sit across the table from investors. Learn what a term sheet binds you to and what it does not, and how it maps onto the SSA, SHA and Articles of Association that Indian deals actually run on. Decode the economic terms that decide who gets paid: pre-money valuation and the fully diluted trap, the option pool clause, why Indian VCs invest through CCPS, liquidation preference and anti-dilution. Then work through the control terms that decide who runs the company: board seats, affirmative voting rights, information rights, founder vesting and non-competes. Understand transfer and exit mechanics including ROFR, tag-along, drag-along, pre-emptive rights and the exit clauses that FEMA quietly reshapes. Finish with the regulatory overlay under FEMA and the Companies Act, the clauses worth fighting for, the red flags to walk away from, and a full case study redlining a Series A term sheet.
Understanding Transfer Pricing Basics for Multi Entity Businesses
The moment a business has two entities under common control, every invoice between them becomes a tax question. A holding company charging its operating subsidiary a brand fee, an Indian captive billing its US parent for software development, a promoter's trading firm buying raw material for the listed company: all of these are transfer pricing transactions, and the Income Tax Department will test each one against what unrelated parties would have agreed. This course teaches the mechanics from the ground up. You will learn who counts as an associated enterprise, what the arm's length principle actually requires, how the six prescribed methods work with worked Indian numbers, how the common intercompany transactions (services, royalties, loans, guarantees, captive service centres) are priced, and what compliance looks like in practice: Form 3CEB, the master file and local file, safe harbour rules, advance pricing agreements and what happens when the Transfer Pricing Officer disagrees. Built for CFOs and treasury teams, growth-stage founders setting up overseas or group entities, and corporate strategy and BD teams structuring intra-group deals.
- Identify when two entities are associated enterprises and which of their transactions fall under Indian transfer pricing rules
- Explain the arm's length principle and why tax authorities use it to stop profit shifting
- Apply CUP, resale price, cost plus and TNMM to simple Indian examples and pick the most appropriate method
Understanding Working Capital Optimization at Scale
Built for treasury and corporate finance professionals, growth-stage founders and corporate strategy teams who already know what working capital is and now need to move it. Learn to run the cash conversion cycle as a management KPI, translate days saved into cash released, ROCE and valuation, and benchmark against Indian leaders such as HUL, Asian Paints and Titan. Break working capital down by business unit, channel, SKU and customer to separate structural days from process leakage. Then work through the three big levers: order-to-cash (credit segmentation, dispute control, collections automation, dealer finance), procure-to-pay (term harmonisation under the MSME 45-day rule and Section 43B(h), reverse factoring, dynamic discounting, consignment stock and gold metal loans) and inventory (safety stock, SKU rationalisation, S&OP). Finish with treasury structures, 13-week cash forecasting, the funding mix at scale, negative working capital business models, governance and incentives, the line between optimization and window dressing, and a full 90-day programme case study.
- How to measure the cash conversion cycle the way a treasury team does and convert days saved into cash, ROCE and valuation impact
- How to benchmark working capital against Indian peers and decompose it by business unit, channel, SKU and customer
- Practical order-to-cash levers: credit segmentation, dispute reduction, collections automation and dealer finance programmes
Using Carta or Similar Platforms for Cap Table and Equity Management at Scale
For growth-stage founders, corporate finance and treasury professionals, and strategy and BD teams who have outgrown the spreadsheet cap table. Learn to recognise the breaking point, understand what equity management platforms like Carta, Qapita, EquityList and Trica Equity actually do, and pick one with a structured scorecard. Migrate cleanly by reconciling your spreadsheet against the statutory registers, and set up equity, CCPS, CCDs, warrants and iSAFEs correctly. Run ESOPs at scale: grants under Section 62(1)(b), vesting and leaver treatment, exercise and perquisite tax withholding, and buyback programs. Model priced rounds, conversions and exit waterfalls on the platform, then keep everything in sync with MCA filings, FEMA reporting, demat requirements and Ind AS 102. Close with pre-IPO clean-up under SEBI SBEB rules and a full case study of equity operations from Series A to pre-IPO.
- How to tell when a spreadsheet cap table has become a liability, and what a platform fixes
- How to evaluate and migrate to Carta or an Indian alternative without breaking your records
- How to run ESOP grants, vesting, exercises, tax withholding and buybacks at scale
M&A & Valuation
3 courses
Case Study: Negotiating a Term Sheet, A Founder's Real Experience
A composite case study of an Indian founder raising a ₹40 crore Series A, built from typical Indian venture deal terms. Follow a Pune B2B SaaS company from its first term sheet to the final close, and learn what every clause actually costs. Work through pre-money and post-money valuation, the ESOP pool shuffle, liquidation preferences and anti-dilution, then the control terms: board seats, reserved matters, founder vesting, ROFR, tag-along and drag-along. Understand the Indian legal layer that shapes every deal here, from CCPS and FEMA pricing rules to valuation reports and how terms get rewritten in the SHA and SSA. Finish by modelling the exit waterfall yourself and walking away with a negotiation checklist you can use on a real deal.
- Read an Indian Series A term sheet and separate the economic terms from the control terms
- Calculate pre-money, post-money and founder dilution, including the effect of a pre-money ESOP pool
- Model how liquidation preferences and anti-dilution change payouts across different exit outcomes
Introduction to Mergers and Acquisitions From a Corporate Perspective
An India-specific, inside-the-company view of mergers and acquisitions, built for corporate finance and treasury teams, strategy and business development professionals, and growth-stage founders. Learn the vocabulary of mergers, amalgamations and demergers, why companies buy and why most deals disappoint, and how to decide between building, buying and partnering. Value a target the way an acquirer does: standalone value, honestly sized synergies, control premiums and EPS accretion or dilution. Understand how deals are paid for and structured, from cash and stock to slump sales, schemes of arrangement, earn-outs and escrows. Walk through the deal process and due diligence, the Indian rulebook of the Companies Act, NCLT, CCI, the SEBI Takeover Code and FEMA, and the integration work that decides whether a deal succeeds. Finish with the HDFC and HDFC Bank merger traced from announcement to completion.
- Tell mergers, acquisitions, amalgamations and demergers apart and know why companies pursue each
- Decide when buying a business beats building or partnering, and screen targets systematically
- Separate a target's standalone value from the price paid, size synergies honestly and test EPS accretion or dilution
Understanding ESOP Valuation: Black-Scholes and Binomial Models for Employee Options
A practical, India-specific guide to putting a number on employee stock options, built for finance and treasury professionals, growth-stage founders and strategy teams. Learn why Ind AS 102 treats every ESOP grant as a real cost, why an out-of-the-money option still has fair value, and what the six valuation inputs are. Work through Black-Scholes in plain terms, estimate volatility for listed and unlisted companies, and pick defensible inputs for expected term, risk-free rate and dividend yield. Build a binomial tree step by step, model vesting, early exercise and employee exits, and learn when each model is the right tool. Then follow the fair value into the P&L: expense over the vesting period, forfeitures, repricing, performance and market conditions, and the difference between accounting fair value and tax FMV. Finish with sensitivity analysis and a case study reading ESOP cost disclosures in the annual reports of India's new-age listed companies.
- Why Ind AS 102 requires ESOPs to be expensed at grant-date fair value
- How to value an employee option with Black-Scholes and pick defensible inputs
- How to build a binomial lattice that handles vesting, early exercise and exits
Macro & Markets
11 courses
Global Investing: Accessing US and International Markets from India
A practical, India-first guide to putting money into US and international markets legally and efficiently. Covers why global diversification matters for a rupee-denominated portfolio, every real route available to an Indian resident (LRS-funded direct US broking, Indian mutual fund and fund-of-fund routes, NSE-listed international ETFs), and the tax and compliance layer that trips up most first-time global investors: TCS on remittances, US withholding tax and the India-US DTAA, capital gains treatment, and Schedule FA reporting. Built for experienced retail investors and mutual fund investors who already understand Indian markets and are ready to look beyond them.
- Why and how much of a rupee portfolio should sit outside India
- How the Liberalised Remittance Scheme (LRS) actually works, including its limits and TCS
- How to open and fund a US brokerage account from India, and what it costs
Introduction to Behavioral Economics Beyond Investing
Behavioral finance explains why you buy high and sell low. This course goes further: it's about how the same predictable irrationality shapes EMIs, insurance, pricing, workplace incentives, government policy, and entire markets. Built for investors and finance professionals who already understand loss aversion and herd mentality in a portfolio context and want to see the same forces at work in everyday spending, business strategy, corporate India, public policy design, and macroeconomic cycles. Covers real Indian context throughout: EPF/NPS defaults, no-cost EMIs, Swiggy and Zomato pricing, UPI adoption, PMJDY, Swachh Bharat, and the behavioral roots of bubbles and bank runs.
- How behavioral economics differs from behavioral finance and where the two overlap
- Why defaults, framing, and choice architecture quietly steer everyday financial decisions
- How Indian businesses use anchoring, decoys, and loss framing in pricing and negotiation
Introduction to Geopolitics and Its Impact on Markets
A practical guide to reading geopolitical events the way markets do, built for Indian investors and finance professionals who want to understand why the Nifty gaps down on a Middle East headline or why the rupee wobbles when the US and China clash, not just react to the news. Covers the building blocks of geopolitical risk, the US-China rivalry and its supply chain fallout, energy and commodity chokepoints, and how FII flows and the RBI respond when tensions rise. Uses real events including the Russia-Ukraine war, semiconductor export controls, the 2022-23 energy shock, and India's own border tensions, with NSE, BSE, Nifty, and rupee data throughout.
Introduction to Sovereign Debt and Country Risk
A practical on-ramp to sovereign debt and country risk for Indian investors and finance professionals who want to understand why governments borrow, how the market prices a country's creditworthiness, and what that means for portfolios. Covers the mechanics of sovereign borrowing, how credit rating agencies and bond spreads size up country risk, what happens when that risk turns into crisis, and how FIIs and Indian investors actually use country risk in decision-making. Anchored in India's own borrowing programme and sovereign rating, alongside real cases like Sri Lanka's 2022 default.
Introduction to Trade Wars and Their Market Consequences
A practical framework for understanding trade wars not as headline noise but as a macro force that moves currencies, commodities, and portfolios. Built for investors and finance professionals who want to go beyond news-cycle reactions to tariff announcements. Covers what trade wars actually are (tariffs, sanctions, currency manipulation), the history and mechanics of the 2018-19 US-China trade war, how trade tensions transmit into Indian markets through the INR, FII flows, and commodity prices, which sectors (IT, pharma, auto, metals) win and lose, and how to build a practical watchlist of indicators to track ongoing trade tensions.
Understanding Business Cycles and Their Impact on Asset Classes
An asset-allocation-focused course on how equities, bonds, gold, real estate, cash, and currencies each behave across the four phases of the business cycle, built for investors and finance professionals who want a working macro lens rather than a forecasting model. Covers sector rotation on the Nifty, how RBI rate cycles move bond prices and credit spreads, why gold and real estate follow different clocks than the business cycle, and how to build and rebalance a multi-asset Indian portfolio through a full cycle without overtrading it.
Understanding Commodity Cycles: Oil, Gold, and Industrial Metals
Commodities do not move like stocks. Oil, gold, and industrial metals each run on their own cycle, driven by supply shocks, central bank policy, and global growth, and each one leaves a distinct fingerprint on Indian inflation, the rupee, and specific sectors on the NSE and BSE. This course builds a working framework for reading commodity cycles and connects each one to the Indian instruments and stocks investors actually use to act on them.
- Why commodities move in cycles and what drives the boom-bust pattern
- How crude oil prices are set and how oil shocks transmit to Indian inflation and the rupee
- Why gold behaves differently from other commodities and how to use it as a portfolio hedge
Understanding Currency Markets and Exchange Rate Dynamics
A macro-first look at how currency markets work and why exchange rates move, built for investors and finance professionals who want the theory and the mechanics, not a trading manual. Starts with how the rupee is actually quoted and priced day to day (spot, forward, RBI reference rate, NSE currency futures), then builds the three classical frameworks economists use to explain exchange rates: purchasing power parity, interest rate parity, and the balance of payments approach. From there it moves into the real-world forces that move the rupee: FPI and FDI flows, the crude oil bill and the current account, and the US dollar index and global risk sentiment. Every concept is anchored to Indian data and events, from RBI intervention and forex reserves to the rupee's slide past 83 to the dollar.
- Read direct and indirect currency quotes and explain how the rupee's spot, forward and futures rates are actually set
- Distinguish fixed, floating and managed float regimes, and place India's own currency regime in that framework
- Apply purchasing power parity and interest rate parity to explain why currencies drift and how carry trades work
Understanding Demographic Trends and Their Economic Implications
An intermediate-level macro framework for investors and finance professionals on how demographic change drives economic outcomes. Covers the demographic transition model, population pyramids and dependency ratios, the demographic dividend that powered East Asia's and India's growth, the aging crises unfolding in Japan, China and Europe, India's own working-age window and its risks of being squandered, and the concrete economic and market implications: growth accounting, sector winners and losers, the aging-deflation debate in monetary policy, and a practical framework for screening stocks and tracking demographic data. Anchored throughout in Indian context: Census and NFHS data, RBI and NSE/BSE sector performance, PLI-adjacent labour trends, and real comparisons with Japan and China.
- Explain the demographic transition model and read a population pyramid to identify dependency ratios and growth signals
- Understand how the demographic dividend powered growth in East Asia and India, and how it can be squandered
- Analyze the aging crises in Japan, China and Europe and their links to deflation, growth slowdown and pension strain
Understanding Inflation Regimes Through Different Historical Eras
A history-driven framework for reading inflation as a regime, not just a monthly print. Built for investors and finance professionals who already know what CPI is but want to understand why inflation behaves so differently across eras, and what that means for portfolios. Covers the mechanics of demand-pull, cost-push, and monetary inflation, the global classics (Weimar hyperinflation, the 1970s US stagflation, and Volcker's disinflation), India's own inflation history (the License Raj years, the 1991 BoP crisis, the 2000s moderation under inflation targeting, the 2013 taper tantrum, and the 2021-23 post-COVID inflation fight), and closes with a practical playbook for which assets tend to win in which regime and how to spot a regime shift early using Indian market signals.
- Distinguish an inflation regime from a headline CPI print, and identify demand-pull, cost-push, and monetary drivers behind it
- Explain how Weimar Germany's hyperinflation and the 1970s US stagflation unfolded, and how Volcker's Fed broke the inflation cycle
- Trace India's own inflation history from the License Raj era through the 1991 BoP crisis to RBI's formal inflation-targeting regime
Understanding the History and Evolution of Global Reserve Currencies
A macro history course tracing how the world's reserve currency has changed hands, from the gold standard and the British pound through Bretton Woods and the US dollar's rise, and what challengers like the euro and yuan (and India's own rupee internationalization push) mean for investors today.
- What actually makes a currency a global reserve currency, and why it matters for trade, debt, and geopolitics
- How the gold standard and the British pound gave way to the US dollar across two world wars and Bretton Woods
- Why the Nixon Shock, petrodollars, and SWIFT cemented dollar dominance after 1971
Alternative Investing
14 courses
Building an Angel Investment Portfolio: Diversification and Follow On Strategy
A practitioner-level framework for building and managing an angel investment portfolio, for readers who already know what angel investing is and are ready to invest like a portfolio manager rather than a hobbyist. Goes beyond the basic power law story into quantifying it: how many startups you actually need, expected value math, check sizing and ownership targets, and return simulations. Covers real diversification strategy across sector, stage, geography and vintage, and treats correlation and concentration risk seriously. Devotes a full chapter to reserves and follow-on decisions, including how to actually exercise pro-rata rights and when to double down versus walk away. Closes with the operational side: tracking a portfolio, running periodic reviews, and managing exits across secondaries, M&A and IPOs. Built for experienced retail investors exploring alternatives, HNIs, and angel investors actively building out a portfolio, with Indian examples throughout including SEBI-registered angel funds, AIFs, and Indian syndicates.
- Quantify the power law and work out how many startups your portfolio actually needs
- Build expected value math for check sizing, ownership targets, and capital allocation
- Diversify deliberately across sector, stage, geography, and investment vintage
Real Estate Valuation Methods: Comparable Sales, Income Capitalization, and Replacement Cost
A practical, India-focused course on how real estate is actually valued, built for investors who already own or are evaluating property and want more than a broker's gut feel. Learn the three standard approaches valuers use: comparable sales, which prices a property against what similar properties recently sold for; income capitalization, which prices a property against the rental income and cap rate it commands; and replacement cost, which prices a property against what it would cost to rebuild today. See where each method is pulled from in the Indian market, from registrar and RERA data to cap rates on pre-leased offices and REIT portfolios like Embassy, Mindspace and Nexus Select, to construction cost tables and depreciation schedules. Work through full numerical examples for a residential flat, a pre-leased office unit and a standalone warehouse, learn why the three methods often disagree and how to reconcile them, and finish with a decision framework and checklist for valuing any property you are about to buy, sell or lend against.
Understanding AIF Categories: Category I, II, and III Explained
A deep-dive comparison of Category I, II and III Alternative Investment Funds for investors who already know what an AIF is and want to go further. Go past the basic definitions into the investment conditions, leverage limits and structural nuances that actually separate a venture capital fund from a hedge fund from a real estate AIF, compare how each category is taxed under the pass-through and fund-level regimes, and build a practical framework for choosing between categories as an HNI, angel investor or experienced retail investor moving into alternatives.
Understanding Commodity Futures Pricing: The Cost of Carry Model
A rigorous but practical look at how commodity futures actually get priced, built for experienced retail investors, HNIs, and angel investors who already trade or hold commodities and want the mechanics underneath the price. Covers the cost-of-carry formula step by step: interest, storage, insurance, and convenience yield, then uses it to explain contango, backwardation, and the shape of the MCX futures curve. Applies the model across gold, silver, crude oil, and agri commodities with real MCX data, and closes with how cash-and-carry arbitrage and calendar spreads actually use the mispricing the model reveals.
Understanding Commodity Futures and Hedging Mechanisms
Description coming soon.
Understanding Currency Valuation: Purchasing Power Parity and Interest Rate Parity
A focused, technical deep dive into the two classical theories economists use to value currencies: purchasing power parity and interest rate parity. Built for experienced retail investors, HNIs and angel investors who already know what an exchange rate is and want the actual mechanics, not a repeat of the basics. Covers absolute and relative PPP, the real effective exchange rate (REER), the law of one price, covered and uncovered interest rate parity with worked INR/USD arbitrage math, the carry trade, the forward premium puzzle, and how to apply both frameworks when sizing currency risk in an offshore or alternative-asset portfolio. Anchored throughout in RBI data, NSE currency futures and real Indian examples.
- Explain the law of one price and how it underpins both PPP and interest rate parity
- Distinguish absolute PPP from relative PPP and apply each using real INR/USD and Big Mac Index data
- Calculate REER and interpret what it says about whether the rupee is over- or undervalued
Understanding Fractional Real Estate Ownership Platforms
A practical, India-specific guide to fractional real estate platforms like Strata, PropertyShare, hBits and Assetmonk. Learn how SPV and LLP-based co-ownership actually works, how SEBI's 2024 SM REIT regulations reshaped a once-unregulated market, and how to tell a registered platform from one that isn't. Go inside deal structuring to read rental yield, cap rate and exit assumptions the way platforms present them, and see where fees and waterfalls quietly eat into returns. Build a due diligence process for both the underlying property and the platform itself, understand why liquidity is the biggest risk in this asset class and how secondary markets and buybacks really work, and learn how rental income and capital gains from fractional holdings are taxed. Finish by working out how much of a portfolio should go into fractional real estate and how it compares to other alternative assets. Built for experienced retail investors exploring alternatives, HNIs diversifying into private real estate, and angel investors rounding out a broader portfolio.
Understanding Fundamental Drivers of Currency Movements: Interest Rates and Trade Balances
A practical framework for how currencies actually move, built for experienced retail investors, HNIs, and angel investors who hold or are considering cross-border exposure. Covers exchange rate mechanics and the RBI's managed float, interest rate parity and the India-US rate differential, the carry trade, India's trade and current account deficit, capital flows and RBI intervention, and how to size and hedge currency risk in an offshore or alternative-asset portfolio. Anchored throughout in Indian data (RBI, CAD prints, FII/FPI flows) and real INR/USD examples.
Understanding Pre IPO Investing and Unlisted Shares
A practical guide to buying and holding shares of Indian companies before they list, built for investors who already understand listed equity and now want exposure to the unlisted market. Learn what pre-IPO and unlisted shares actually are, why Indian unicorns are staying private for longer, and how the informal grey market differs from the more formal unlisted-share ecosystem. Go deep on the actual mechanics of access: ESOP secondary sales, pre-IPO placements, dealer platforms, and the SEBI and Companies Act boundaries that govern all of it, plus the red flags that separate a legitimate deal from a scam. Finish with how to actually value a company with no listed market price, how cap tables and dilution affect your stake, how these shares are taxed in India, and the real exit routes once you're in.
- Tell a legitimate unlisted-share deal apart from a grey market trap
- Value a company that has no listed market price to anchor on
- Know how unlisted shares are taxed in India and what your real exit routes are
Understanding Real Estate Cycles and Timing the Market
An intermediate, India-specific guide to the boom-bust rhythm of real estate and what it means for your buy and sell decisions. Learn the four-phase cycle of recovery, expansion, hypersupply and recession, and why property cycles run longer and slower than stock market cycles. Track the signals that actually move a cycle: interest rates and home loan affordability, unsold inventory and months to sell, absorption and job growth, and developer credit stress. Read RBI HPI, NHB RESIDEX, launch-to-sales ratios and rental yield compression like a practitioner, and see why Mumbai, Bengaluru and Hyderabad rarely move in sync. Finish with a honest look at whether timing the market actually works, cycle-aware buying strategies, and the mistakes that trap investors who chase the peak or panic at the trough. Built for experienced retail investors, HNIs and angel investors who already understand property basics and want to time their next move.
Understanding Real Estate Investment Analysis: Cap Rate and Cash on Cash Return
A rigorous, numbers-first guide to the two metrics serious property investors actually underwrite with: cap rate and cash-on-cash return. Learn to build a clean NOI from gross rent down through vacancy and operating expenses, calculate cap rate the way institutional buyers do, and see why Indian commercial cap rates sit where they do across Mumbai, Bengaluru and the Tier-2 cities. Then bring in debt: build cash flow after debt service, see exactly how loan-to-value and interest rate move your cash-on-cash number, and learn to tell positive leverage from negative leverage before you sign anything. Use both metrics together to screen and compare real deals, stress-test your assumptions, and spot the red flags behind a cap rate or cash-on-cash figure that looks too good. Built for HNIs, experienced alternative-asset investors and angel investors who already know the basics of real estate and want to underwrite a deal properly instead of trusting a broker's pitch.
Understanding Seasonality in Agricultural Commodity Prices
Agricultural commodities do not move like stocks or even like gold and crude. Their prices run on a calendar set by sowing windows, the monsoon, and harvest arrivals, layered with MSP policy and global crop cycles from the US, Brazil and China. This course builds a working method for reading that calendar: how to construct a seasonality chart, tell a real pattern from noise, act on it through MCX and NCDEX contracts, agri-linked equities and funds, and size the risk correctly when a drought or an export ban breaks the pattern. Built for experienced retail investors, HNIs and angel investors who already understand commodity trading basics and want to go deeper into agri-specific seasonality.
- Why agri commodity prices move on a predictable calendar tied to sowing, monsoon and harvest, not just news flow
- How to build and read a seasonality chart, and how to tell a genuine pattern from random noise
- Which Indian instruments, MCX and NCDEX contracts, agri-linked equities, AIFs and PMS, let you act on seasonality
Understanding Technical Analysis Applied to Forex Markets
A focused, India-specific guide to reading currency charts the way a forex trader actually needs to, not a repeat of generic stock-market technical analysis. Learn why the forex market's 24-hour structure, session overlaps and lack of a central exchange change how you read candles, volume and support and resistance, then apply trend lines, moving averages, chart patterns, RSI, MACD, Bollinger Bands, Fibonacci and Ichimoku directly to USD/INR, EUR/INR and major currency pairs. Built for experienced retail investors, HNIs and angel investors who already understand forex basics and want a systematic way to read currency charts.
Understanding Term Sheets From an Angel Investor's Perspective
A clause-by-clause guide to the term sheet, built for angels who already understand cap tables and valuation and now need to read the document that actually governs their investment. Learn what makes a term sheet binding versus non-binding, how the format differs across SAFE, CCD and CCPS instruments, and how to read a real Indian angel term sheet line by line. Go deep on the economic terms that decide your payout: participating versus non-participating liquidation preference, redemption and buyback clauses, conversion triggers, and how anti-dilution and pro-rata protections are actually worded and negotiated. Finish with the control terms that determine how much say you get after the cheque clears: board seats and observer rights, protective provisions and veto rights, and information and inspection rights.
- Read a real Indian angel term sheet clause by clause
- Understand which economic terms actually decide your exit payout
- Know which control and governance rights an angel can realistically negotiate
Tax & Wealth Planning
11 courses
Introduction to Estate Planning: Wills and Nominations
A practical, India-specific guide to passing on your wealth cleanly. Learn what actually happens to bank balances, demat holdings, mutual funds, insurance, EPF, PPF, NPS and property when someone dies with or without a will, and why a nominee is usually not the final owner. Understand intestate succession under the Hindu Succession Act and the rules for Muslims, Christians and Parsis, the difference between self-acquired and ancestral property, and where an HUF fits. Set up nominations correctly across every account, draft a legally valid will clause by clause, and avoid the mistakes that send Indian families to court. Finish with probate, succession certificates, transmission of shares and funds, the tax position of heirs, special cases for minors, business owners and blended families, when a private trust makes sense, and a full case study of one family's estate plan.
- Explain what happens to each type of asset when a person dies with or without a will
- Distinguish a nominee from a legal heir and know when each one ends up owning the asset
- Apply intestate succession rules for Hindus, Muslims, Christians and Parsis
Introduction to GST Basics for Freelancers and Small Business Owners
GST touches almost every freelancer and small business owner in India the moment their income crosses a threshold, yet most learn it the hard way, through a notice or a rejected input tax credit claim. This course builds GST from the ground up: what it actually is, when you must register, how to invoice correctly, how to claim back tax you have paid, whether the composition scheme suits you, and how to file GSTR-1 and GSTR-3B without missing a deadline. Every example uses Indian context, real thresholds, and real portal steps.
- What GST is, how CGST, SGST and IGST split between the Centre and states, and whether you are liable to pay it
- Whether you need to register for GST, at what turnover, and when voluntary registration works in your favour
- How to find the correct HSN or SAC code and GST rate for what you sell
Introduction to NRI Taxation Basics
A practical walkthrough of how Indian tax law treats non-resident Indians: how residential status is actually determined, what income gets taxed here versus abroad, how NRE, NRO and FCNR accounts differ in tax treatment, and how TDS and DTAA work on capital gains.
- How to determine your residential status under the Income Tax Act, including the day-count tests
- Why residential status can change from year to year and what that means for your return
- Which income is taxable in India for an NRI versus what stays out of scope
Introduction to Trusts as a Wealth Planning Tool
A practical, India-specific introduction to trusts: what they are, when they beat a will or direct ownership, how to set one up under the Indian Trusts Act, and how trust income is actually taxed.
- When a trust is the right tool versus a will, HUF, or direct gifting
- The core roles in a trust and how private and public trusts differ
- How to set up a trust under the Indian Trusts Act, 1882
Understanding Double Taxation Avoidance Agreements (DTAA)
For Indian taxpayers with income from more than one country: NRIs, remote workers paid abroad, freelancers billing international clients, and investors holding foreign assets. Walks through India's Double Taxation Avoidance Agreements from first principles, how residential status decides which country taxes you first, how to claim relief under Section 90/90A using the exemption or tax credit method, and what a Tax Residency Certificate and Form 10F actually need to show on your ITR. Uses real treaty mechanics from India's DTAA with the US and UAE, and works through complete examples combining NRI salary income, foreign dividends, and Indian rental income.
- Determine your residential status and whether DTAA even applies to your income
- Claim DTAA relief correctly using Form 10F and a Tax Residency Certificate
- Choose between the exemption method and the tax credit method under Section 90/90A
Understanding Gift Tax Rules in India
A practical walkthrough of Section 56(2)(x) and India's gift tax rules: which gifts are taxable, which relatives and occasions are exempt, how to value and report a gift correctly, and the documentation that keeps you audit-ready.
- Which gifts of money and property are taxable under the Income Tax Act
- The full legal definition of a relative for gift tax purposes
- Which occasions and categories are exempt from gift tax regardless of who gives
Understanding Presumptive Taxation for Freelancers and Small Businesses
A practical, India-specific guide to presumptive taxation for freelancers, consultants and small business owners who want to spend less time on bookkeeping and audits. Understand exactly who qualifies under Sections 44AD, 44ADA and 44ADE, how the presumptive income is computed under each, and when the scheme actually saves you tax versus when maintaining regular books works out better. Work through the digital-receipts versus cash-receipts split under 44AD, the 5-year lock-in if you opt out early, and how presumptive income interacts with advance tax and GST registration thresholds. Finish with real Indian scenarios, a consultant, a kirana store owner and the common mistakes that trigger scrutiny.
- Determine whether you qualify for presumptive taxation under Section 44AD, 44ADA or 44ADE
- Compute presumptive income correctly under each section, including the digital-receipts split
- Decide when presumptive taxation saves you money and when regular books work out better
Understanding Tax Efficient Investment Vehicles: ELSS, PPF, NPS
A focused, India-specific course for taxpayers who already understand Section 80C and want to go deeper into ELSS, PPF and NPS specifically. See how ELSS's three-year lock-in and equity LTCG taxation compare to PPF's guaranteed, government-backed EEE status and NPS's extra Section 80CCD(1B) deduction. Work through fund selection for ELSS, the mechanics and withdrawal rules of PPF, and the Tier I vs Tier II and asset allocation choices inside NPS, then bring all three together into one coherent tax-saving plan suited to your income, liquidity needs and time horizon. Built for taxpayers with multiple income sources, freelancers and small business owners, and anyone structuring long-term wealth.
- Understand how Section 80C ties ELSS, PPF and NPS together as tax-saving options
- Evaluate ELSS funds and understand the three-year lock-in and LTCG taxation on redemption
- Use PPF effectively, including its 15-year tenure, loan and withdrawal rules and EEE tax treatment
Understanding Tax Implications of Multiple Income Sources
A practical walkthrough of Indian income tax for people whose income doesn't fit in one box: a salary plus freelance or consulting work, rental income, or gains from equity and mutual funds. Covers the heads of income, what's already taxed at source versus what isn't, presumptive taxation for freelancers, and how to pick the right ITR form when multiple income streams collide.
- How India's heads of income and slab system work together, and why residential status changes the whole calculation
- What's already deducted at source on salary versus what you're responsible for reporting yourself
- How presumptive taxation under Section 44ADA works for freelancers and consultants, and when regular books make more sense
Understanding Tax Loss Harvesting Strategies
Learn how to use tax-loss harvesting to reduce your capital gains tax liability under Indian tax law. This course covers how STCG and LTCG are taxed across equity, debt and other assets, the set-off and carry-forward provisions under Sections 70 to 74 of the Income Tax Act, and practical execution using broker reports and screener.in, with real Indian portfolio examples and the common traps, like bonus stripping, to avoid.
- How STCG and LTCG are taxed differently across equity, debt, and other assets in India
- How to use Sections 70 to 74 to set off and carry forward capital losses
- How to identify harvestable losses in your own portfolio before the financial year ends
Understanding Tax on Capital Gains From Equity, Debt, and Real Estate Together
Most investors learn capital gains tax one asset class at a time, and end up with rules that contradict each other in their head. This course puts equity, debt instruments, and real estate side by side, using the same framework of holding period, cost of acquisition, indexation, and set-off throughout, so you can see exactly where the rules diverge and why. Built for anyone with income from more than one asset class who needs to plan a sale, not just understand it in theory.
- How holding period, cost of acquisition, and indexation work as a common framework across equity, debt, and real estate
- Current STCG and LTCG rules for listed equity and equity mutual funds, including the LTCG exemption threshold and grandfathering
- How the 2023 reform changed debt mutual fund taxation, and how bonds and G-Secs are still taxed
Forensic Accounting & Compliance
2 courses
Corporate Governance: Evaluating Management Quality
A practical course on judging the people running the companies you own. Learn to read promoter holding and pledges, board and auditor disclosures, related party transactions, capital allocation records, and SEBI and exchange filings for Indian listed companies, then turn it all into a repeatable governance scorecard using annual reports, BSE/NSE filings, and screener.in.
- Why governance quality drives long-term returns and valuation multiples in Indian markets
- How to read promoter holding, pledged shares, and group structures for warning signs
- How to evaluate board independence, auditor remarks, and managerial remuneration
Practice Drills: Identifying Corporate Governance Red Flags
A practice-first companion to Corporate Governance: Evaluating Management Quality. You already know what good governance is supposed to look like; this course makes you find the bad kind in real filings. Working with shareholding patterns, related party disclosures, board and auditor announcements, SEBI orders and exchange filings on NSE, BSE and Screener.in, you will build a governance red flag scorecard and drill it flag by flag: pledging and creeping dilution, money moving to group companies, weak boards, auditor exits, and management churn. The course closes with full drills that score companies side by side, replay the signals ahead of real Indian governance failures, and decide what to do when the flags show up in a stock you already own. Built for experienced retail investors, mutual fund investors and salaried professionals who want a repeatable governance check before they buy, or before they trust a fund that does.
- Locate every governance disclosure that matters in NSE and BSE filings, annual reports and Screener.in
- Build and apply a weighted governance red flag scorecard to any listed company
- Read shareholding patterns for pledging, promoter selling, warrants and creeping dilution