NISM Series XV - Research Analyst Certification

Eligibility - For Any College Student from any background or a working professional from any industry. This course is also for the begginers as well, with no knowledge in the markets.               

The NISM-Series-XV: Research Analyst Certification Course is an exam-oriented framework designed to establish a standard knowledge benchmark for equity research and financial analysis in India. It is legally mandatory under SEBI regulations for anyone preparing or publishing market research and stock recommendations.

💼 Why This Certification Matters

Passed by the National Institute of Securities Markets (NISM), this certification serves as a legal license and a professional benchmark.

• The SEBI Mandate: Under the SEBI (Research Analysts) Regulations, 2014, passing this exam is mandatory to register as an Independent Research Analyst or to work as an analyst for a brokerage house, merchant bank, or institutional fund.

• Career Entry Point: It is the standard resume-builder for breaking into Buy-Side (Mutual Funds, PMS, AIFs) and Sell-Side (Equity Research Firms, Investment Banks) roles in India.

📑 Detailed Curriculum Breakdown

The syllabus is structured to take you from a macro understanding of the economy down to micro-level stock analysis and financial modeling.

1. Market Foundations & Macroeconomics

• Financial Ecosystem: Structure of primary and secondary markets, roles of institutional players (FIIs, DIIs), and clearing mechanisms.

• Economic Indicators: Analyzing how GDP growth, inflation (CPI/WPI), fiscal deficits, and Reserve Bank of India (RBI) monetary policy choices impact stock market cycles.

2. Fundamental & Qualitative Analysis

• Industry Frameworks: Using life-cycle analysis (Introduction, Growth, Maturity, Decline) and Porter's Five Forces to evaluate industry pricing power.

• Corporate Governance: Red-flagging companies by digging into promoter pledge histories, related-party transactions, and auditor resignation histories.

3. Quantitative & Valuation Techniques

• Financial Statement Analysis: Deep-diving into Balance Sheets, Income Statements, and Cash Flow statements. Calculating efficiency ratios (ROCE, ROE), leverage ratios, and working capital cycles.

• Valuation Models:

  • Absolute: Discounted Cash Flow ($DCF$) and Dividend Discount Models ($DDM$).

  • Relative: Price-to-Earnings ($P/E$), Price-to-Book ($P/B$), and Enterprise Value to EBITDA ($EV/EBITDA$) multiples.

4. Technical Analysis Foundations

• Chart Patterns: Understanding support/resistance levels, moving averages (SMA/EMA), and momentum indicators like RSI and MACD to time entry and exit points.

5. Regulatory, Compliance & Ethics

• SEBI Guidelines: Strict rules regarding the timing of research report releases, tracking analyst personal trading disclosures, and avoiding conflicts of interest.

Use either Pen and Notebook for taking notes or a laptop for the same.

What we offer-

1) Live + Recorded classes.

2) Modes of Learning- Online or Offline.

3) Mentorship from a SEBI Registered Expert.

4) Internship Oppurtunities.