the

AN IN-HOUSE MAGAZINE OF

VOL. 5 No.06 PUBLISHED FROM November-December 2014 SHAREKHAN Dear Sherus, We stand at the threshold of a new year with mixed feelings. Two thousand fourteen was a great year and it is hard to say goodbye. It gifted our country a strong leader, tamed inflation, revived our economy and sent our stock market soaring by over 30%. But we also wait for 2015 with an air of expectancy. The Modi sarkar is expected to initiate some key reforms to revive the economy in this year. The ’s interest rate cut cycle too is expected to begin in 2015 which will help the economy grow. All in all, 2015 may turn out to be equally good if not better. To make the best of the opportunities that may present themselves in the new year, Sherus across the country are organising events to create awareness among the investors about the benefit of investing in equities, commodities, currencies et al. Recently our branches in Bengaluru and Mysore called a meeting of their retail clients to put them in the picture. We have a report on pages 2 and 3. Our Commodity Sales Desk has also launched a confidence-building exercise across branches in collaboration with and the Forward Markets Commission. Given the local population’s interest in commodities the exercise was kicked off from . Sheru Sheldon Cordozo reports on pages 4- 7. Last month, our HNI Cell arranged a meeting of our top HNI clients and ex-Sheru Nikhil Vora to apprise them of the golden investing opportunity that Nikhil’s maiden consumer-focused domestic venture capital fund offers. Catch the details of the event along with photographs on pages 8-10. At the NSDL Star Performer Awards—2014 Sharekhan was rewarded for its efforts to bring investors back to the stock market. It was the only broking house to lift two trophies, in the “New Accounts Opened” and “Go Green” categories. We have a report on page 11. Our Technical research team led by young Sheru Jay Thakkar did us proud by winning the “India’s Best Market Analyst” award at the fifth edition of India’s Best Market Analyst Awards 2014 organised by Zee Business earlier this month. The team poses with the award on page 12. In the Spotlight we have another award winner, Business Partner Abhijit Periwal. He was awarded the “Best Delivery Business” trophy at Sharekhan’s annual franchisee meet in August this year. Read his success story on pages 13-14. We present In a Nutshell Channaraj, a Sharekhan veteran who prefers to work from behind the scenes. It took a lot of convincing for him to come in front of the camera and pose for our readers. We are proud of the results and would like to share the same with you on page 15. On pages 16-17 enjoy a Heart-to-Heart with Ashish Inamdar, group head, Sharekhan. In a frank chat an eloquent Ashish talks about his childhood dreams, likes, dislikes and more. Sherus Zubin Bhatporia and Abhijit Sarkar recently participated in separate panel discussions. Photos on page 18. Sherus in Mumbai celebrated Diwali with a lot of fanfare. We have the photographs on pages 19-20. On page 21 we have a quiz for you, answer all the questions correctly and win a gift voucher of Rs1,000! Meanwhile, Mahek Gala (Business partner, Kalyan), Vanita Yadav (head office, Kanjur Marg) and Kartik Thakkar (Institutional Desk) are the three lucky winners of the Business Quiz 42. Congratulations, dear winners! You will receive your prizes shortly. Before signing off, I wish you all a very Happy New Year and thank each and every Sheru who helped us bring out this edition. I look forward to your continued support. Send your contributions to me at [email protected]. Cheers! Priya

1 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation EVENT

UPDATE e at pd U Bringing small investors back Seminars in Mysore and Bengaluru see commitments worth Rs27 crore

Foreign institutional investors have pumped nearly $16.5 billion in Indian equities in this year, taking the benchmark indices, Sensex and Nifty, up by about 30% each. Now, having hit their investment limits in most of the large-cap stocks, they are shifting to the mid-cap and small-cap stocks. As a result, the BSE Small-Cap Index and BSE Mid-Cap Index are also having a good run on the bourses. Yet, the retail investor is staying away and missing all the action. The thing is, though the small investor is still as interested in creating wealth now as he was in the last bull run and the bull runs before that, he is not convinced of the market’s growth potential yet. Having suffered huge losses in the past he is also once bitten twice shy. He would return only if someone were to reassure them that the Indian stock market has indeed begun a multi-year bull run. Well, Sherus across the country are doing just that. Various branches of Sharekhan are holding meetings of their clients and potential clients to spread the message of how the Indian market is poised to make a big and strong up move over the next few years and how entry at these levels could create huge wealth over the long run. Recently our branches in Mysore and Bengaluru, under the Karnataka cluster, managed to successfully convince many of their clients of the benefit of returning to Hemang Jani presents the market outlook in Bengaluru the world of equities. In Mysore, branch manager, Halappa KJ, and his team invited their clients to a presentation on market outlook by Hemang Jani on November 20, 2014. While about 100 odd clients were expected to attend, nearly 140 turned up, indicating retail investors are still interested in the stock market, they just need proper guidance. At the end of the presentation as many as 88 clients enrolled for Sharekhan products like Wealth Creator Portfolio, Alfa Delivery Picks, Top Picks and Portfolio Doctor on the spot. A total amount of Rs2,652,000 was committed by these customers to various Sharekhan products on the occasion. A similar scene played out in Bengaluru the very next day when Basappa and Venugopal, advisory managers; Krishna Kumar (regional sales manager) and Full attendance at the seminar in Bengaluru their respective team members enrolled 87 customers for various Sharekhan products. Some even signed for more than one and together these customers committed a whopping sum of Rs22.54 crore to Sharekhan’s top investment products including the new Wealth Creator Portfolio. What’s more, there were a few others who though registered for some product or the other but did not disclose the amount they intended to invest.

2 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation EVENT

UPDATE e at pd There were two key reasons behind the U success of these seminars. One, the list of the invitees was carefully drawn up under the watchful eye of the cluster head, Channaraj. Thus, only those clients were invited whose past trading pattern reflected genuine interest in stock investing. Another criterion for making it to the list of the invitees was deep pockets. This ensured on-the-spot commitment of funds to various products. From L-R: Hemang, Channaraj, Tony, Manish, Basappa and Venugopal The other factor that played a key role was the presentation made at each seminar by the Advisory team. Feedback collected from the participants at the end of both the events showed that the presentations made by Hemang had gone a long way in dispelling their doubts and in assuring them of the benefits of investing in equities. At Mysore, some even went to the extent of saying that it was the best seminar they had ever attended. Audience in Mysore pondering return to equities In his presentations Hemang ran the participants through the various factors that would drive the market in the days ahead as well as informed them of the various investment products available at Sharekhan. The participants showed great interest in both the Wealth Creator Portfolio and Alpha Delivery Picks which was reflected in the question-and-answer session that followed the presentation. They were also told about the Portfolio Doctor service which they could avail of if they simply wanted to get their portfolio restructured to make it profitable. Another reason why the Mysore and Bengaluru teams could mobilise such huge sums on the spot was the simple enrollment form offered to the clients. The form was easy to fill and to the point, Manish flanked by Channaraj and Tony helping clients choose and register for the products of their choice. Overall, the clients responded with enthusiasm and showed keen interest in learning about the market opportunities. We can safely say both the events were successful in that the same managed to rekindle the clients’ interest in equities. However, this newfound interest needs to translate into actual investments by the clients. Only then will they be able to cash in on the big opportunity. To monitor the results of such events Channaraj has worked out a smart Management Information System. In a brief interview Channaraj explained how he and his team follow up such events for maximum success. Sharekhan Times (ST): How do you ensure such events yield maximum results? Channaraj: Before an event, we short-list clients based on their profile and the products to be presented. At the time of giving out the invitation we also inform them about the products in brief. To ensure good attendance, at least two follow-up calls are made prior to the event, preferably in the last two days.

ST: Any post-event measures? Channaraj Channaraj: I was coming to that. You see, after the event, we short-list and then prioritise the participants based on the products they showed interest in. To maximise the results, we then meet them in the order of priority. We also stay in touch with them after they start investing to make them feel comfortable. The frequency of interaction increases when the performance of a product is favourable and this helps us generate more leads from happy clients. Last, we keep the clients updated on the performance of and forecasts on the products with valid arguments and numbers.

3 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation EVENT

UPDATE e at pd U Sharekhan joins hands with MCX and FMC for a good cause

Looking at the renewed interest in the commodity and currency segments Sharekhan has joined hands with the Multi Commodity Exchange (MCX) and Forward Markets Commission (FMC) to launch a confidence building exercise across its branches. The trio has been conducting joint seminars across India to increase awareness of the commodity market among investors. The initiative was launched in Gujarat first due to the significant interest displayed by the local investors in these segments in the past. The dynamic nature of Anahita Vora helped us achieve tremendous success in the following seminars.

Seminar on Commodity Trading in Bhuj

The seminar held in Bhuj on September 20, 2014 was attended by 174 people and was very successful. Devang Mehta of MCX spoke on the commodity market and discussed the specifications of various contracts traded on the commodity exchanges. This was followed by Sharekhan’s house view on the direction of prices of the major commodities, viz gold, silver, crude and copper, and on the USD-INR delivered by Yogesh Bhanushali, Commodity Advisory Desk, Sharekhan. A vote of thanks was given by Ashok Parmar, Franchisee advisory team, Sharekhan, which was followed by a very interactive question-and- answer (Q&A) session.

Seminar on Commodity Trading in Ankleshwar

The seminar in Ankleshwar was held on November 7 in partnership with MCX. It was attended by 80 people. Ayub Khan of MCX explained the benefits of trading in commodity futures while Vishal Mistry of Sharekhan presented the house view on commodities and the USD-INR. The event concluded with a lively Q&A session with the participants.

4 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation EVENT

UPDATE e at pd U Seminar on Commodity Trading in Vadodara

The seminar in Vadodara, held on November 14, was attended by 100 persons. Ayub of MCX explained the benefits of trading in commodities while Maulesh Gandhi from Sharekhan’s Vadodara branch discussed the house view on commodities and currencies. This was followed by a Q&A session with the audience.

Seminar on Commodity Trading in Ahmedabad

There was tremendous audience presence at the Ahmedabad seminar held on November 14, with around 200 people attending it. Mr Mehta of MCX gave a presentation on the commodities traded on exchanges which was followed by a house view on the fundamental and technical factors delivered by Deven Bhalerao of Sharekhan’s Ahmedabad branch. The Q&A session was very interactive with the audience asking a lot of questions, which were addressed by Deven and his team.

As per the guidance received from Rajiv Purohit, we decided to conduct an awareness programme in Hyderabad. The efforts of Ranga Rao and his team generated a huge response to the programme.

Commodity Awareness Programme in Hyderabad

On the same day, ie November 14, we organised a Commodity Awareness Programme in Hyderabad. The event was very successful with total of attendance of around 170 persons. Dibyendu Sahu from Sharekhan gave the welcome speech and briefly discussed the benefits of trading in commodities. This was followed by a presentation by Sambashiva Rao and Samir Kenia (both of MCX) on the various commodities available for trading on exchanges. Further, Hardik Shah of Sharekhan’s Commodity Advisory Desk discussed the house view on commodities and currencies. This was followed by a Q&A session wherein some specific advantages of currency hedging along with commodity trading were discussed by Dibyendu and his team.

5 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation EVENT

UPDATE e at pd U

These successful events were followed by an awareness programme in Pune. The commodity and currency segment has been generating a lot of interest among both retail clients and corporates in Pune. With valuable inputs and guidance provided by Sujatha Raman, the Commodity Awareness Programme was a great success. The details of the event are presented below.

Commodity Awareness Programme in Pune

A Commodity Awareness Programme in Pune was held on November 21. There was a good audience turnout of around 200 persons. Harshad Kulkarni, regional franchisee manager, Pune branch, Sharekhan, welcomed the gathering. This was followed by a session on exchange traded commodity contracts and their specifications, conducted by Sonica Barnard of MCX. Later Ambar Garg from Sharekhan’s Advisory Desk presented the house view on the direction of major commodities and the USD- INR pair. This was followed by a Q&A session, which was addressed by Ambar and Sonica.

Another such event was conducted in Chandigarh. Due to the amazing insight provided by Pushpinder Singh about the local investors, the event received a very good response. We present the details of the event below.

Commodity Awareness Programme in Chandigarh

The event was held on November 29. The welcome note was given by Bupinder Khatoch, Commodity regional manager, Chandigarh, Sharekhan. This was followed by a presentation on exchange-traded commodity futures by Sanjay Gakhar, VP, MCX, Delhi. Further, Jigar Pandit of Sharekhan discussed the house view on major commodities and the USD- INR pair. He also discussed the benefits of currency hedging while trading in commodities. This was followed by a discussion on the benefits of trading in commodities with Sharekhan by Jaydeep Tahashildar, Commodity Advisory Desk, Sharekhan. There was an attendance of around 100 persons at this event. This was followed by a very interactive Q&A session which was addressed by Jigar and his team.

6 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation EVENT

UPDATE e at pd U

After the success of the Hyderabad awareness programme, we conducted more such programmes in Coimbatore and Erode and both were equally successful.

Commodity Awareness Programme in Coimbatore

A similar programme was held on November 28 in Coimbatore. There was a good participation of 200 persons. Sharekhan’s Dibyendu welcomed the gathering and spoke in brief on commodity trading and currency hedging. This was followed by a discussion on commodity contracts and their specifications by Senthilvelan, MCX. Later, Hardik presented the house view on commodities and currencies. This was followed by a very interactive Q&A session with Dibyendu and his team.

Commodity Awareness Programme in Erode

The Commodity Awareness Programme in Erode was held on November 29. There was an audience of around 100 members. The session commenced with Dibyendu welcoming the audience and making a brief presentation on commodity trading along with the benefits of hedging commodity positions with currency. This was followed by a d e t a i l e d p r e s e n t a t i o n o n c o m m o d i t y specifications by Suraj of MCX on commodity specifications. Later Neelkanthan, Sharekhan’s commodity regional manager, and Hardik discussed the house view on commodities and currencies along with various trading strategies. This was followed by a very interactive Q&A session with Dibyendu and his team. Events at a glance

Reported by Sheldon Cordoz0

7 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation BUSINESS

e UPDATE at pd U

Betting on Sixth Sense

All ears: Sharekhan's Jaideep Arora listens with rapt attention (third from left) Straight talk: Nikhil Vora spells out his plan

It has always been our endeavour to apprise our valued high net worth individual (HNI) clients of the best investing opportunities in the market before anybody else gets even a whiff of the same. Therefore, recently when one of the sharpest analytical minds in the country decided to roll out a consumer-focused domestic venture capital fund, Devangg Kamdar, head of our HNI Cell, lost no time in bringing him and our top HNI clients under one roof. It was not easy to get some of the ultra HNIs of Mumbai at the same place at the same time on the same day but Devangg and his team managed this difficult feat. Personal invitations, frantic follow-up SMSs to confirm attendance and reminder calls on the day of the event ensured that 40 of the richest Indians from various walks of life made their way to Mumbai’s Hotel Softel at 7pm on November 13, 2014 to hear Nikhil Vora, CEO and founder of Sixth Sense Ventures, speak. To those who closely follow India’s institutional research Nikhil perhaps needed no introduction. The new poster boy of the country’s venture capital industry, Nikhil, has made his mark as an active investor by personally backing a dozen private companies that have grown disproportionately in a period of five years! But many of those who had gathered to hear him that day were not aware of his Sharekhan connection, nor of his various other distinctions. So in a short and snappy introduction Sharekhan’s Jaideep Arora put all in the picture.

8 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation BUSINESS

e UPDATE at pd U

ekhan of Shar n Shah d Taru v Dua an Gaura ailaya, ankar V Jani, Sh emang L to R) H in: (from Tuned Nikhil, he filled in, had been part of the core team when Sharekhan was launched in 2000 and one of its brightest analysts who had identified several profitable multi-baggers from the FMCG space for the company’s clients. From Sharekhan he had later moved on to IDFC Securities as its managing director and co-head, Research, and over a career spanning nearly 20 years he has carved a niche for himself in the industry by successfully betting on undervalued stocks. The audience was visibly impressed to learn that in 2012 Nikhil was voted not only India’s number one analyst in the Asia Money Polls 2012, but also Asia’s Best Analyst by the Wall Street Journal. His own investment track record of the last five years in the upcoming businesses space is a humongous 100%. Some of his investments have given 5 to 15 times returns with the overall investment doing in excess of five times in six years. That is why when Nikhil took over the dais to present his points of view in front of some equally successful individuals in their own rights, one could hear a pin drop after the initial round of applause in a fully packed auditorium. Standing tall in his six-foot frame Nikhil appeared confident and commanded everybody’s attention right from the word go. As he went on to explain his aim of creating an organisation that would gain recognition as the de-facto medium for investments in consumer-centric businesses in India, it seemed to click with the audience many of whom could be seen nodding in approval. The statement of his commitment to replicate his personal success with his venture capital fund was much appreciated. His venture capital fund is aptly named Sixth Sense Ventures, considering that besides a sharp analytical mind Nikhil seems to have been blessed with a sixth sense for knowing which companies will translate into big winners. It is this sixth sense that he brings to the table along with 20 years of rich experience. Sixth Sense Ventures has a strong team at the helm with 70 years of combined experience in investing and operations, and best-in-the-class industry stalwarts as mentors

9 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation BUSINESS

e UPDATE at pd U

across verticals. Its objective is to invest in businesses with dysfunctional growth potential and it is currently busy building a corpus of Rs250 crore for which it is targeting HNIs, corporate houses, domestic institutions and family offices. With the belief that India has a great potential for investments in all areas of consumption, Sixth Sense Ventures is gearing up to invest in unlisted companies from the domestic consumer segments, like education, media, e-commerce and FMCG. Nikhil’s presentation was well received by our clients who seemed curious to learn more about this golden investment opportunity. Moreover, the promoter’s own investment of Rs30 crore in the fund offered a huge sense of comfort to them. Thus, the question-and-answer session that followed was very interactive with the potential clients quizzing Nikhil on all aspects of his maiden venture. Some very interesting and relevant questions were posed to him which he answered with aplomb and without any reservations. The meeting ended with a cocktail dinner over which Sharekhan’s top management including CEO Tarun Shah, and Directors Shankar Vailaya and Mr Arora; head of Research, Gaurav Dua; head of Advisory, Hemang Jani; Devangg and Nikhil, an ex-Sheru himself, could

be seen interacting informally with the invitees long after the event was officially over. ST

Devangg gave a brief interview to the Sharekhan Times after the event. Excerpts are presented below.

Sharekhan Times (ST): It is not easy to bring together some of the wealthiest residents of the city in the same place. How did you manage full attendance on the day of the presentation on Sixth Sense Ventures? Devangg Kamdar (DK): Before the event we visited each of our clients personally and explained the concept of venture capital and why it is the preferred mode of investment for the wealthy. Venture capital as an investment avenue is new in this country and Nikhil’s Sixth Sense Ventures offers the early bird advantage to

Devangg Kamdar our clients. There is a lot of money to be made in the world of venture capital provided the right horse is backed and Nikhil is Venture capital known for backing the right horse. These two factors, in my opinion, clicked with them. as an investment avenue is new ST: How did you gauge the reaction of the participants to the new in this country and investment opportunity? Nikhil’s Sixth DK: That Nikhil’s presentation had made a powerful impact was Sense Ventures apparent from the quality of the questions asked by the clients during the question-and-answer session. Only relevant questions offers the early related lock-in period, returns etc were asked by them which bird advantage showed their interest. Out of the 40 who attended at least 20 were to our clients very active during the session. Every one of them was convinced about Nikhil’s credential, character and capabilities as fund manager.

10 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation NO MEAN

e FEAT at pd U Sharekhan wows all at NSDL Star Performer Awards—2014

This year at the NSDL Star Performer Awards—2014, Sharekhan was the only broking house to lift two trophies. In the “Non-banking financial company” category, it reprised its performance of the last year and lifted the trophy for adding the maximum number of clients on a pan- India basis in FY2014. It may be recalled that last year too Sharekhan had been honoured by National Securities Depository Ltd (NSDL) for adding the maximum number of customers in FY2013. This year, Sharekhan went a step ahead and bagged another award, this time in the “Go Green” category, for its initiative to put its depository service online. This was the second year of the NSDL Star Performer Awards, which were instituted by NSDL last year to categories n is top performer in two felicitate depository participants in various Take two: Sharekha categories for their efforts to promote the depository concept in the Indian capital market. The award distribution ceremony was held at ITC Maratha in Mumbai and was attended by the who’s who of the Indian banking and financial services industries. Sharekhan was represented at the event by Kalyanaraman (Kalyan), Pravin Darji, Joby John and Jason Rodney. As for the paperless initiative of the Depository department of Sharekhan, it is in compliance with the government’s move to put a paperless system in place in the capital market to boost investors’ confidence by making transfer of securities safe and secure. By putting Sharekhan’s depository services online Pravin and his team have fulfilled Sharekhan’s dream of providing to its customers a cost-effective as well as secure way of holding investments. Here is a pat on our collective back then. It is also hoped that with each passing year we will continue to improve our score at the NSDL Star Performer Awards! That means, next year the Client acquisition team will be on a hat trick. Kalyan, are Proud moment: Kalyan seems pleased with the tally you listening? ST

Fresh from his successful outing at the NSDL Star Performer Awards—2014, Kalyan shared his feelings with the Sharekhan Times in a brief interview. We present excerpts below. Sharekhan Times (ST): Sharekhan has won the Star Performer award in the “New Accounts Opened” category for two years in a row. To what do you attribute this achievement? Kalyan: I would say to team work, aggression and humility to service customers unerringly. ST: What does winning this award mean to Sharekhan? Kalyan: It reinforces our belief that we are a brand preferred by the retail customers. It also puts the onus on us to keep recreating ourselves to service their ever expanding needs. Kalyanaraman

11 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation NO MEAN

e FEAT at pd U

Jay ho Sharekhan’s Jay India’s best technical research analyst

India's best: Sharekhan’s Technical research team poses with the "India's Best Market Analyst" award (from L to R: Naresh Kasar, Jay Thakkar, Rohit Srivastava and Jatin Gedia)

Sharekhan’s Technical research team headed by Jay Thakkar won the “India’s Best Market Analyst” award at the fifth edition of India’s Best Market Analyst Awards 2014 organised by Zee Business, part of Zee Media Corporation, in Mumbai recently. The awards recognise excellence in the field of market analysis and honour India’s financial market experts for empowering retail investors. The award distribution ceremony was held at Mumbai’s The Lalit on December 13, 2014 and was attended by dignitaries like Maharashtra's Chief Minister Devendra Fadnavis, Bharatiya Janata Party's President Amit Shah, and prominent industry leaders including Puneet Goenka, chief executive officer, Zee group. The awards were categorised under Equity, Commodity, Special Contribution and Editor’s Choice—Commodities and Equity. The jury of market experts that judged the nominations included renowned names like Ramesh Damani, Madhusudan Kela, Ashish Chauhan, SK Jindal and Ashok Mittal. Sharekhan won the award in the Equity Technical category. Gaurav Dua, head, Research, Sharekhan, received the award from Mr Fadnavis and Mr Shah on behalf of Sharekhan’s Technical research team. Jay ho! ST

12 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation In the SPOTLIGHT with Business Partner Abhijit Periwal

At the age of 28 Abhijit Periwal gave up a flourishing career as the head of the Private Client Group of a reputed securities firm to follow his heart. Many called his decision to quit a cushy job in order to turn an entrepreneur rash and warned him of the pitfalls of running one’s own business. But this young chartered accountant (CA) from Mumbai was determined to make a success of his new calling. He had acquired interest in the stock market very early in life as his father was an avid stock investor and stock market was the staple topic of discussion at home when he was growing up. Thus, though he trained as a CA, Abhijit returned to his first love, the Abhijit Periwal stock market, after a brief stint as a CA in Dubai. He found himself a job of a fundamental research analyst and got down to identifying winning stock ideas for investors. Talent combined with hard work helped him climb the ladder of success and soon he was appointed the head of the Private Client Group of his firm. But a few months into his new role and he realised that that was not what he wanted to do for the rest of his life. He wanted much more. He wanted to be in the driver’s seat, take decisions and assume complete control. He was sure that he wanted to do something related to the stock market. So after much thought he decided to take up the franchise of a stock broking firm. “Sharekhan was one of the premier brokerage houses, so I approached the company through a friend,” explains Abhijit. Thus, in November of 2004 he quit the security of a well-paying job to embrace the uncertainties of setting up his own business that too in an industry notorious for its fluctuating fortunes. Was he right in doing so? Judge for yourself. For five years in a row after joining hands with Sharekhan Abhijit clocked the highest delivery-based revenues among the business partners of the company. During the last bear phase that lasted six years, while several franchises of not only Sharekhan but also of the other retail broking houses were forced to close down, Abhijit kept Sharekhan’s flag flying in Mumbai. In August this year, he was awarded the Best Delivery Business trophy at Sharekhan’s annual franchisee meet. The secret behind Abhijit’s success lies in his ability to leverage his strengths to run his business. When we asked him what his strengths were, he replied, “My strengths are my strong team, education and professional background.” Indeed his strong team, which works tirelessly to achieve the firm’s vision of customer delight, has moulded the firm’s success. His CA and chartered financial analysis backgrounds have helped him develop a conservative approach towards investing with focus on preserving capital. His degrees in chartered accountancy and chartered financial analysis have also helped him understand financials and balance sheets while his experience as a research analyst and belief in fundamental analysis have aided him to create long-term wealth for his clients. Mehul Dedhiya and Anil Balani, the two co-heads of Sharekhan’s Franchise advisory business, like to add strong networking capabilities to Abhijit’s list of strengths. Through his strong networking Abhijit has formed relationships across the industry that help him attract clients. He is very adept at handling ultra high net worth individuals (HNIs) and most of his business comes from the wealthy investors. He rarely conducts client acquisition events and gets most of his clients through referrals, though cold calls are also used to tap potential clients. Once a lead is obtained his team calls the potential client to understand his needs and the call is followed by a personal visit to discuss all possible solutions to the client’s needs. Several more meetings are required for the client to feel comfortable and sign on the dotted line. “The gestation time for conversion from a lead to a client could be one day to as long as three months depending on the client,” he adds.

13 The SHAREKHAN TIMES Novl-Dec 2014 Strictly for internal circulation In the SPOTLIGHT with Business Partner Abhijit Periwal

He had a handful of clients when he started his business in 2004 and today his firm, Abhijit Periwal Securities, boasts of a client base of over 350 clients, including a couple of ultra HNIs. His revenues have grown multifold in the past ten years. So how did he grow his business? “By continuously acquiring HNIs using my expertise and by leveraging Sharekhan’s knowledge and services,” explains Abhijit. Knowledge has been a key weapon in his Team work: Abhijit poses with his team in Mumbai armoury. Deep knowledge of the market has earned him the respect of his clients and helped him steer the business through bad times. So he starts his day by reading six to seven newspapers in addition to Sharekhan’s Fundamental News and Analysis and Pre-Market Report. His next task is to update his clients on the day’s important news and developments before the market opens. In fact, this process of updating his clients continues throughout the day based on various research reports of Sharekhan. Abhijit used the last bear phase of declining business to update his knowledge. So along with his team he underwent training at Sharekhan’s Active Training Cell and Online Trading Academy (OTA) when business was dull. He is particularly bullish on Sharekhan’s OTA initiative and has even enrolled his clients for the OTA course. “OTA is a good product which can immensely benefit the trading community,” he observes. He also used the last bear phase to reconnect with his clients and believes it is essential “to be in touch with your client during bad times for him to remember you during the next bull run.” Abhijit shall complete ten years with Sharekhan in 2015 and admits that the journey has been very good. He enjoys working with Sharekhan tigers and is all praises for Sharekhan’s services. He recalls instances when accounts of clients outside the city were opened with the help of Sharekhan’s TAKE branches. He feels that his clients’ experience is 5 t enhanced once they become part of the system as How do you manage day-to-day stress? In Sharekhan provides good customer support. this world of overdose of news, try to avoid watc hing business channels after work, spend Abhijit also believes Sharekhan enjoys great time with family and take up a hobby. t brand recall in equities which along with its focus Your mantra for time management? Use the on mid-cap stocks differentiates it from the other planner in your mobile for effective time- bound delivery and avoid postponing current retail broking houses. However, its competitors issues. score an edge with their complete bouquet of t A dream that has yet to come true? To f services. In his opinion, in the coming era of ind the perfect mantra for stock selection, it discount brokerage firms, companies like may remain a dream though. t Sharekhan will be able to survive only by offering Describe yourself in three words. It is hard t all investment avenues including real-estate o describe myself, but I would like people to see me as a person who is honest, thinks abo investment, mutual fund advisory and structured ut their wellbeing and is willing to go products under one roof. His own vision is now to the extra mile for them. t build a one-stop shop for client investment needs What are your strengths and weaknesses? My st and chances are that with his customer-first rengths in this field are my education and background as a professional. My weakness is approach, integrity, knowledge and perseverance that I would like to grow my organisation in a process- he will achieve this vision too. ST driven manner, like Sharekhan, and am still trying to figure out how to do so.

14 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation IN A NUTSHELL

Channaraj FOOD FOR MIND • Magazine: The Week • Website: www.rediff.com • Newspaper: Mint • TV channel: National Geography STRESS BUSTERS • Music: Old Kannada songs • Movie: Ravichandran’s old movies • TV programme: Programmes on wildlife • Hobby: Going on wildlife safari FITNESS MANTRA • Eat: Papaya everyday before breakfast • Drink: Tender coconut water the first thing in the morning • Exercise: Play badminton • Avoid: Over sleeping and smoking NOTHING MORE THAN FEELINGS • Fear: God and telling lies • Joy: Cat and fish • Frustration: When things are not in order • Pride: Family A MATTER OF TASTE • Beverage: Lime soda sweet and salt • Dish: Coorgi style spicy food • Dessert: Natural ice-cream • Restaurant: Barbeque Nation AS I LIKE IT • Colour: Red • Season: Summer • Smell: Of blossoms in coffee estate • City: Goa YESTERDAY ONCE MORE • As a child I collected: Stamps • I played: Kabbadi • I watched: Kannada films • I read: “Ramayana” and “Mahabharata” • I dreamt of: Becoming a coffee planter

15 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation -to-Heart Heart r with Ashish Inamda

Our guest this time is somebody who made a career out of his passion for the stock market. Meet Ashish Inamdar, who heads three of our commercially successful branches in Mumbai and has earned the respect of his colleagues and clients alike for his sound understanding of the capital markets, both local and global. His interest in the stock market was triggered by the bull run ignited by Harshad Mehta in the early 1990s. He was studying for his Master’s degree in commerce as well as management in those days and like hundreds of other investors he too was fascinated by

r

a the Big Bull’s ability to create asset seemingly out of thin air. Though the coming to light of

d

m

a the country’s biggest securities scam perpetrated by Mehta did come as a huge shock

n

I

h afterwards, it did not diminish the attraction of the capital market.

s

i

h

s A So after completing his studies and doing a brief stint at a software firm Ashish found himself a job at the country’s oldest stock exchange, (BSE). He spent 12 years at the BSE successfully spearheading several departments and projects related to moving the Indian capital market from paper-based trading to electronic trading. In early 2006, around the same time that Ashish was looking for new challenges after over a decade at the BSE, Sharekhan was searching for professionals. Ashish seemed to fit the bill. The idea of bringing to use the knowledge and experience gained at the country’s premier stock exchange to run a stock broking business thrilled him and he joined Sharekhan on the eve of the company’s sixth birthday. With his ability to take lead and implement strategic business initiatives Ashish climbed the ladder of success and within three years of joining he was entrusted with the task of heading a group of branches. Today, he admits, “I love many things about my job, things that I couldn’t have foreseen when I had accepted it.” He comes across as a tough boss. But all those who know him inside out vouch that he is the most fun-loving person around. He likes to live life to the fullest, is attracted to adventure sports and loves to keep himself aware of the happenings across the globe. In his free time he anchors stage shows and values his relationships a lot. In a recent interview with the Sharekhan Times Ashish revealed what ticks him, why he loves his job and more. Excerpts are presented below. Sharekhan Times (ST): When and how did you begin your career? Ashish Inamdar (AI): I started my career pretty early. Soon after completing my higher secondary school I joined a nationalised bank as a temporary clerk under their scheme of “Earn while you learn”. Though I did not need a job then, this took care of my pocket expenses and the monthly salary of Rs360 that I earned was a handsome amount at that age and I was considered as rich amongst my friends and fellow-students. ST: Share your memories of first day at Sharekhan. AI: I still remember that day. I received a warm welcome and was put at ease by everyone at the Phoenix office. The entire office was in a celebratory mood as the following day was the Sharekhan (foundation) Day. ST: What made you choose this profession? AI: During the early days of my career, I always had a fascination for the stock market especially with the Harshad Mehta boom, the entire talk everywhere was about the stock markets. That’s how I started taking interest in stocks and eventually landed up making a career in this stream. ST: What is the favourite part about your job? AI: I love so many things about my job, things which I couldn’t have foreseen when I had accepted it! I love challenges and everyday out here is a different challenge. I also love the people I work with: my co-workers, boss and even most of the clients we serve. Here, I get to split my time between creative and organisational tasks and I love having that duality because when I get stuck on the creative stuff, I can switch gears and do the organisational stuff. It’s nice being able to use both sides of my brain. ST: What is the most important lesson you’ve learned at Sharekhan? AI: I think when we're young we think we have to do just this one big thing that would completely change the world. We dream so big because we are too young to realise that those "one big things" actually comprise

16 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation -to-Heart Heart r with Ashish Inamda

hundreds and thousands daily small things that must silently and unceremoniously be maintained over long periods of time with little fanfare. Welcome to Sharekhan! Straight ST: What do you like to do in your free time? from the AI: I do a lot of reading about current news and affairs related to anything and everything. I love to heart watch a lot of movies and good informative/ educational/stress busting TV shows. Most of all, I like to sit with my family and have a general Ü Your favourite character from the book you are reading now? discussion with all or help them out in their activities. Sachin Tendulkar, for all the hard work and effort behind his It gives me a lot of comfort and satisfaction. glamour and fame, and Anjali Tendulkar, for all the sacrifices she has made (from the book “Playing It My Way” by Sachin ST: What is one thing about Sharekhan that has Tendulkar and Boria Majumdar). changed over the years? Ü If you could meet anyone in the world dead or alive who would it be and what would you say to him? AI: The technology has changed dramatically so as to Queen Elizabeth II; I would ask her to share the knowledge and remain in step with the dynamics of the business. wisdom she has acquired after ruling all these years. Also, the approach towards business has changed a Ü If you could do everything again, what would you do differently? lot keeping in line with the changing trends. The I never think of looking back and doing things differently. Past is History and Future is full of Mystery. Present is the best time to do processes and systems have been refined with the things in a positive way. changing regulations and in order to garner optimum Ü As a child what did you think you were going to be when you grew up? productivity and efficiency. During my school days, I always wanted to be the school principal. I always thought he was the most powerful guy on this ST: And one thing about Sharekhan that has not planet. Ü changed even after so many years? You have a natural talent for? I have a gentle and subtle sense of humour; a strong presence of AI: The personal and human touch of people has mind and can entertain people a lot. I also have a natural talent been the same ever since I joined Sharekhan. for quizzing and anchoring stage shows. Ü Who is your role model and why? ST: What according to you are the attributes of a Every person I meet in life offers me a lot of things to learn. I always try to learn different qualities from different people. good leader? Ü What makes you angry? AI: He should be poised, confident and have a Once I was hot-headed but over time I have learnt to control my positive demeanour. He should have the ability to anger. I lose my temper on rare occasions. But generally, not following discipline is something that can put me off. listen and be an effective communicator. He needs Ü How can we prevent crime against women? to take people along, recognise the “weakest link” By trying not to differentiate between girls and boys, by teaching and work on the same. He should be able to admit our children to respect women and by realising that it could be mistakes and not hesitate to learn from them. our own mothers or sisters who could be victims. Ü One thing that you like about yourself: ST: How do you manage stress? I am exceptionally well organised. Ü One thing that you dislike about yourself: AI: By going on a drive with my wife and daughter I have too many expectations from people in terms of honouring on a traffic-free road with some good music in the commitments. background or by catching up with my friends over Ü What’s the thing you find impossible to forgive? some good quality spirits and food. I also find the I find lethargy and lack of effort an unpardonable thing if it happens regularly. "Tom and Jerry Show" an absolute stress buster. Ü Describe a typical working day. Frankly, work itself can be de-stressing at times. Meetings with the co-workers, followed by client interactions, routine reports and MIS, and constantly tuned in to the market ST: How do you balance your personal life and during the day. professional life? Ü What has been the most memorable day of your life so far and why? The day we were blessed with a lovely daughter. AI: Every night I make a to-do list of both Ü What’s the one thing every man should possess? professional and personal commitments, prioritise Gentlemanliness, that includes almost everything. the tasks and tackle them accordingly. If something Ü If you could go to dinner with anyone, who would it be and why? doesn’t happen that day, then I carry it forward to the Mark Zuckerberg, to understand how someone can be so humble despite being so rich and to learn to do business successfully and next day. I get a lot more done this way plus this innovatively. helps me tackle things one at a time and avoid multi- Ü What is your most treasured possession? tasking. This also keeps my mind relatively free of My family, friends and all my relationships, I value each one a lot. cluttered thoughts. I also try to leave my personal life at home when I go to work and vice-versa. ST

17 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation HAPPENINGS

Sharekhan's Abhijit Sarkar recently participated in a panel discussion at the Smart Office India Summit in Mumbai. The event was covered by the magazine, Commercial Design.

Sharekhan's Zubin Bhatporia was recently invited as a panel expert to the technical session of National Conference on Finance 2014 at AURO University Surat. Here he can be seen discussing the challenges facing the Indian stock market with Prof. Meghna Dangi (extreme right).

18 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation NT UPDATE EVE E AT PD U Sharekhan celebrates the Festival of Lights in Mumbai Celebrations at Ruby

CelebrationsCelebrations atat KanjurmargKanjurmarg

19 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation NT UPDATE EVE E AT PD U CelebrationsCelebrations atat KanjurmargKanjurmarg

20 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation TIME-PASS BUSINESS QUIZ # 43 CORNER

qquuiizz tthhee nntteerr ggiifftt EE iinn aa This edition’s quiz tests your general knowledge. We too ww ooff have a contest running on this quiz. All complete and t cchheerr vvoouu 00!! correct entries received before January 15, 2015 will be 11,,0000 eligible for a draw and three lucky respondents will win a gift RRss voucher of Rs1,000 each. So put on your thinking caps and roll (contest not open to the contributor, her friends, relatives and neighbours at Sharekhan). You may address your replies to [email protected].

1. Which company owns and markets Burnol, the old antiseptic brand for burns, in India? a. Morepen Laboratories b. Dr Reddy’s Laboratories c. Divi’s Laboratories 2. Which new history and mythology channel has started with the tagline “Kahaniyan Hindustan Ki”? a. History TV18 b. EPIC c. Sanskar TV 3. Which BRIC country recently increased its interest rate from 10.5% to 17.0% to protect its currency? a. Russia b. Brazil c. China 4. Which international tyre major has invented a puncture-proof, Clincher airless tyre called TWEEL, a combination of tyre and wheel? Identify a. Goodyear b. Bridgestone Corporation the model— c. Michelin he modelled for a garment store in 5. Which company owns the packet tea brand Wagh Bakri? Nagpur during a. Lipton Tea b. Gujarat Tea Processors his modelling days. c. Brooke Bond & Packers

Answers to Business Quiz #42 1. (a) D Subbarao 2. (b) US Dollar 3. (c) Federal Reserve 4. (a) Yen 5. (a) Bank of England 6. (a) Arun Jaitley

SHAREKHANSHAREKHAN QUIZQUIZ ## 4242 WINNERSWINNERS

Kartik Thakkar Vanita Yadav Mahek Gala

21 The SHAREKHAN TIMES Nov-Dec 2014 Strictly for internal circulation