In this article I am sharing a list of Google Groups which I find useful when I need to access equity research reports on Indian stocks.
Doing your own analysis
I am an advocate of doing your own analysis.
You might ask why I look at equity research reports by broking houses. The reason is simple. I do not look at the Valuation section in these reports. I only read the other sections. It is useful to get a summary of the sector and the business behind a particular stock.
It saves time.
It adds to what one might have missed in the material that the company discloses on their website.
There are certain companies which do not have earning calls with analysts. Still, they interact on a one-to-one basis with analysts if need be. This information reaches the research report. It is tough to get this data on your own.
Theoretically, if one is a shareholder of a company (even if you own one share) you can reach the Company Secretary (details on the company website) and ask queries to the extent that the company is disclosing information to the public.
Practically, getting access to management it is not easy. Management might make you run through hoops or make you wait. The same management might open up to an analyst from a broking house even if they do not own shares in the company.
Research reports are a valuable part of the investing process, provided you do not get carried away with target prices and recommendations, which might be biased. Read them for the facts only.
Google Groups for free equity research reports – India
You can use these links to various Google Groups which I use regularly.
I recommend not using the email option when you sign up for any Google Group. It may lead to clogging your inbox because some of these groups are updated very frequently. It might be better to check it intermittently.
Alternatively, when you actually want a particular stock research report, go to these groups and check whether there is any relevant report.
I hope this is useful to you too. If you use any other resources which are free, do let me know. I will share it with the Capital Orbit Community.