Narnolia Securities Limited Cooprate View - Growth History, Products, Reviews, Vision and Mission

8/13/2019 Narnolia Securities Limited Cooprate View - Growth History, Products, Reviews, Vision and Mission

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Specialized & Concerned about

the Health of your Wealth

Dr. WealthDr. Wealth

Advance Strategy Simple Solutions

www.narnolia.com


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From the desk of CMD

May 1, 2012 added another momentous day in the growth history

of our organization as we completed 15 years of our existence

as a full service advisory and broking rm. As we look back we

nd this journey of fteen years to be very satisfactory one – in

terms of size, variety and, more so, quality. During this whole

period, our determined work in the specialized elds of indices

development, fund management, portfolio diagnostic, corporate

advisory, equity broking and operational excellence helped us to

emerge as a leader, and win several national and international

accolades.

We have always believed that genuine money management

process requires an organized & cutting edge knowledge, latest

information, conceptual imagination and intelligent discipline.

That being so, we launched our in-house research only initiatives ‘Eastwind’ in New Delhi and ‘National Market Wave Research

Institute’ at Patna to further explore the quantitative, qualitative

and technical research models.

Nothing speaks better and louder than the quantum and quality of

result. The relative out-performance of various model portfolios

created based on above data and techniques was impressive

enough in absolute and relative term to draw the attention of

the leaders of the industry across the world and create a win

- win - win business model for the investors, company and its

distributors/people.

We take particular care in ensuring that the increasing size of our

organization should not affect the quality of our service, instead

it should help us to add value. Accordingly, we keep restructuring

and ne tuning the whole process of servicing at each touch

points based on our experience and global best practices.

I, on behalf of Narnolia, thank all our investors, associates

and all well wishers for their continued trust and contribution

during this whole journey of stupendous growth and we all lookforward to serving you with greater care, concern, courtesy and

commitment.

Wish you happy investing.

“Business is no longer a

matter of prots alone.

Prots must come through

public condence, and

public condence is given

to any businessman in

proportion to the service

which he gives to the

customers “

Krishna N Narnolia


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“ I give great credit to Narnolia ji for his great vision that how he has set up the operations & this is

how big companies are formed because he wants to be the best in the country and these companies

only ourish as the major companies of the country."

Sandeep Singh

National Sales Head - Franklin Templeton

"Narnolia Securities has played a pioneering role by bringing professional-level investment

management and advisory services to a region where this was not available earlier. Its contribution

to democratising investments are praiseworthy."

Dhirendra Kumar

CEO - Value Research

“Narnolia Securities in a short span has become perhaps, the largest franchisee group of the country.

This can be attributed to the professional and customers focused approach of the entire team. This

coupled with the man management skills of Mr. Krishna N Narnolia will drive the organization to evengreater heights.”

Nandagopal

CEO & Country Head - Reliance Life Insurance

"I admire Krishnanand’s vision, strategy and orgnaization building capabilities. He is always thinking

about how to become bigger and better. He has been able to create a very strong organization

against all odds. If I want some strong customer insight, he is the person I call upon.”

Motilal Oswal

Chairman - Motilal Oswal Sec. Ltd.

“Narnolia Securities Ltd. has developed into one of our most successful and most awarded partnerships.

In just 8 years Narnolia Securities has been able to grow to an organization with over 275 outlets,

servicing over 1,00,000 clients. This is a testament to the leadership of Mr Krishna N Narnolia and the

passion of the entire team at Narnolia Securities Ltd."

Raamdeo Agarwal

MD - Motilal Oswal Sec Ltd.

My vision for creating wealth for my investors got a great boost with my association with Narnolia

Securities with Goodwill of Brand Narnolia & their world-class products, services & strong value

systems, along with charismatic leadership of Krishnaji. He and his team really work as Financial

Doctors in nding solutions for nancial problems of clients in most efcient way.

Umashankar Choudhary

Strategic Partner & Director - Pasupati Capital

I am really impressed by the company and its people for their sincerity, honesty, dedication and

complete transparency. I am a guy who does not get impressed so easily and I am now fully satised

and the value addition they are giving to my money is quite appreciable and I wish this company grow

more and more.

R. P. Ritolia

Client and former CMD - CCL

Views : For The Narnolians


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"Not even a world war can

keep the Stock Market from

being a bull market when

the conditions are bullish,

or a bear market when

conditions are bearish. All

a man needs to know to

make money is to appraise

conditions"

Lawrence Livingston

Investment and Business Opportunities

Generation and management of money was never so difcult and

easy as it is today. The needs were limited, the opportunities

were limited, the Darwinian theory of survival of the ttest was

not that intense, the return on the age old reliable no brainer ally

(Bank deposit, PPF like xed return schemes) was giving enough

return to obviate the need to think beyond it.

The emergence of India as a phenomenon in the globalized

world backed by favorable relative demographic, economic

and geographical conditions brought with it several lifetime

opportunities and, unfortunately, many more difculties also for

those who were/are not t enough. We believe that these trends

and habits are not temporary phenomenon and are likely to last

beyond geographies and generations backed by these inherent

relative strengths. As per the Demographic Model, when a countrypasses through stage 3 it offers immense potential of business

and investment opportunities which is impossible to repeat in

one's lifetime.

In case of India, stage 3 is believed to have started between

2005- 2010 and should last at least 30 to 40 years. This period

with low ratio of dependents will lead to a period marked by

higher savings ratio, higher investment ratio and also higher

consumption ratio, and the virtuous cycle spins.

We call it a THIRD WAVE and are of the view that the benets

of this wave will be shared disproportionately by few who are

suitably placed; be it an individual or corporation; be it an activeinvestor or passive; be it a prot organization or not-for-prot

organization. The power of knowledge will be realized increasingly

beyond the libraries as an important partner of growth. 'Growth for

the sake of survival' will be the rened mantra for the businesses

and ‘how much of equity' will replace 'whether to have equity'

in the nancial planning of the passive investors including the

corporations, charities etc.

We believe, the sooner one adapts and takes the right step in the

right direction the better are the chances of one's survival and

growth.

High birth rate, rapid fall in eachupward age group due to high death

rates; short life expectancy.

Males (%) Females (%) Males (%) Females (%) Males (%) Females (%) Males (%) Females (%)

Stage 1 - expanding Stage 2 - expanding Stage 3 - stationary Stage 4 - contracting

Age

65

15

High birth rate, fall in death rate asmore living in middle age; slightly

longer life expectancy.

Declining birth rate; low death rate;more people living to old age. Low birth rate; low death rate;higher dependency ratio; longer life

expectancy.


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Built to Last Foundations

We know what we should do and what we should not. The bedrock

of such informed beliefs and decisions is grounded in our core

principle of improving nancial security of our select customers –

in a way which is absolutely ethical and relatively superior, than

the industry standards, and also in a way that the long term

interests of the company is taken care of automatically while

believing and doing so.

Vision

We will be the most trusted, most knowledgeable, most

understanding and most concerned provider of value added and

customer centric nancial services in our strategically chosen

class and also mass market.

Mission

We commit ourselves both in thought and action to raise ourselves

in the eyes of our true boss i.e, the investors from being a mere

transaction broker to a true family nancial doctor and help them

to protect and improve their nancial health. We further resolve

not to sell daru (gambling) in the bottle of dawa (investment)

and will dare to tell them the difference between the two even if

it results into low revenue in the short term. We shall invest most

of our time, energy and resources to reduce gaps at each touch

points with our existing investors, and shall see our growth intheir growth. Let us believe that quantity follows quality.

Our Core Purpose

Like a Doctor whose primary duty is to save and improve the life

of his patient, the primary duty of our company, as an investment

and nancial advisor, should be to help our customers protect and

create wealth. The prot of the organization should be seen as

the secondary objective and as the resultant of the primary duty.

Our Business Model

The business model is centered around the vision, mission and

core purpose of the organization. It was realized that the interests

of the customers (core purpose) could best be served if we have

the expertise to create such products and services which can

truly serve the interests of the investors and then if we have a

distribution channel which can deliver such products and services

in the most personalized, localized and efcient way.

Accordingly the unique Wealth Creation – the Narnolia edge

model was developed with various intensive research based

products and services which can genuinely claim to be truly world

class and truly personalized.

“The key to realizing a

dream is to focus not on

success but signicance -

and then even the small

steps and little victories

along your path will take on

greater meaning.”

Oprah Winfrey


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Narnolia : Brief History

The history of the company dates back to 1993. The brilliant

academic track record and a deep understanding of capital market

of its founder CMD Mr. Krishna N Narnolia helped him to lay

the solid foundation of Narnolia with well dened philosophies

and core values.

1997 q The rm was corporatized. Mr. Shailendra Kumar

(B.E., M.Tech, IIT Delhi) joined the company as one

of the co-founding director who brought with him his

experience of fund management and advisory.

1999 q Strategic decision was taken to spread out. Became

the rst company in the area to open self managed

branches and franchisee outlets with both NSE &

BSE terminals.

2004 q Tied up with Birla Sunlife as the exclusive

distributor of its life insurance products.

2005 q Strategic tie up with Value Research headed

by Dhirendra Kumar for exclusive advisory to the

investors of Narnolia. Published jointly monthly

magazine Narnolia Mutual.

2006 q Launched Narnolia Premier Club for its premium

clients.

2007 q The company was converted in to Public Ltd Co.

q Corporatized the research wing in the name of

Eastwind based on global best practices of research.

2008 q Got ISO - 9001 : 2000 certication for Quality

Management. Got upgraded to ISO - 9001 : 2008

in the year 2010.

q Series of investment and Corporate Benchmarks

(e/w index) were launched including the All

Share Index which represents 99.5% of market

capitalization.

q Launched "Knowledge Capital" to impart basic

and advance knowledge & training to investors.

q World famous Islamic Index was launched in

New-Delhi by Smt. Sheila Dikshit (CM, Delhi),

Mohd. Ashraf Fatmi (MOS, Govt. of India), Mr A.

M. Ahmadi (Former Chief Justice of India) in the

presence of representatives of various Governments

and institutions. It got national and international

accolades and is still most widely tracked index to

identify Shari’ah Compliant Indian stocks.

“I have found no greater

satisfaction than achieving

success through honest

dealing and strict adherence

to the view that, for you to

gain, those you deal with

should gain as well.”

Alan Greenspan


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Narnolia : Brief History

2009 q The launch of Model Eagle Fund on 1st October

2009.

2010 q Published 'Narnolia Finedge' magazine with digital

fundamental research based Superior Performance

Ranking (SPR) on 1641 stocks & 150 Mutual Fund

schemes.

q Eastwind emerged as pioneer in quantitative

equity research which drew interests of the leading

names in the nancial industry including Merryl

Lynch, Blackrock, JP Morgan, Ernst & Young LLP,

Goldman Sachs, HSBC Banking & Financial Services,

Barclays Capital, First Quadrant, PNC Bank, UTI etc.

q 'Wealth Creation–the Narnolia edge' Model was

launched with superior return generating products &

services.

q SAFE services launched to work as Secretary,

Advisor, Friend & Expert of client through in-house

software 'Spectrum'.

q Research Lab founded which prepares the SDR

(Screening, Diagnosis and Recommendations)

report to nd the potential of investor's holding to

beat the index in the long run and take full advantageof India growth story. This has revolutionized the

whole concept of wealth creation in the country.

2011 q Opening of Central Strategy Desk for premier club

members.

2012 q Launch of Narnolia India 3T Fund on 27th of March

2012.

q Monthly Magazine of Narnolia "Market Twitter"

was launched by Mr. Ramesh Damani, with

technical & fundamental research updates from ourown research lab.

q Became the rst LLP of India to apply for AIF Hedge

Fund category under SEBI (Alternative Investment

Fund) Regulations 2012.

“Disneyland will never be

completed, as long as there

is imagination left in the

world”

Walt Disney


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Research Lab

This innovative concept of advisory on a stock or ones portfolio

to help our individual and institutional clients to reap maximum

benets of India growth story as it unfolds over a period of time,

has drawn interests and accolades from individual and institutional

clients, fund managers and industry leaders across the globe. The

objective was to advise our clients to pick the criteria based best

performing stock/portfolio on an absolute and relative basis from

out of the widest possible and available investment universe. The

all famous SDR report is prepared by our team of investment

experts of this Lab based on such research data analytic wherein

we offer to analyze the portfolio of each of our select investors to

nd the allocation imbalances of the portfolio vis-a-vis the Index

and the desired range on the parameters of size, sector, style

and value matrix. And based on this comprehensive screening

and diagnosis two optional recommendations are given to the

investors to restore the balance and, thus, to reap the full benets

of India growth story.

Research Methodologies – 4 steps

1. Investment Universe Creation & Classication

• Data Analytics on widest Indian Market Coverage : 1641

Stocks with 99.5% of the total market capitalization.

• Grouping of stocks into 4 Cap, 10 Sectors, 44 Industries,76 Sub-Industries, Style based and Theme based

Classication.

• Stocks Quantitative Parameters : 'Earning Score' and

'Price Score' using detailed nancial account data of

these companies.

for detailed process please visit

narnolia.com/index.php/research-lab/

2. Approved 'Buy' list preparation

• Identifying Valuation Multiple for each Industry.

• Data analytics by placing stocks into four quadrants

based on growth and valuation.

• Analyzing last 10 years valuation & growth history of

each Co.

• Identifying companies with appropriate growth and

valuation characteristics to be placed in approved 'buy'

list.

“When you go to 10 doctors

to discuss the treatment for

a disease and if all agree on

one treatment you opt that;

but in investing it can be the

most dangerous option”

Anonymous


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“A man with his head in the

oven and body in the freezer

may have an average body

temperature of 98.6 degrees,

but he can’t be comfortable.

A good average return on

investment can’t justify

the importance of poor

businesses and anonymous

bull market tips.”

Anonymous

3. Focused 'Buy' list preparation

• Identify valuation trends for stocks of approved 'buy list' in

peer relative sense by using valuation mapping techniques.

• Data Analytics using statistical technique as applied on price

data of all stocks to identify stocks exhibiting rising ALPHA.

• Identifying top 70 stocks for Portfolio recommendations.

4. Portfolio weightage allocation/Risk Management

• Proprietary Model to determine optimized weightage to

various industries. Benchmark weightage is revised based

on industry index performance & adaptable snifng model

using fundamental parameters to decipher 'themes in force'

in the market.

• Optimal weightage assignment to avoid risk concentration

Portfolio Analytic Report : SDR

The all famous SDR (Screening, Diagnosis and Recommendations)

report, all across the world, is prepared by our team of investment

experts of its Lab at New Delhi based on such research data analytic

wherein we offer to analyze the portfolio of each of our select

investors to nd the allocation imbalances of the portfolio vis-a-

vis the Index and the desired range on the parameters of size,

sector, style and value matrix. And based on this comprehensive

screening and diagnosis two optional recommendations are given

to the investors to restore the balance.

The recommended portfolios are then tracked on line with the

use of in-house software and rebalanced depending on macro

indicators, market conditions, out-performing themes, relative

performance of stocks etc. and, thus, to reap the full benets of

India growth story and generate a revenue which is more than his

personal style of investing and relevant benchmarks. For sample

copy of the report please visit:

narnolia.com/index.php/research-lab/sample-q-pod-sdr-

report/

Psychological Discipline

Financial Discipline

Beta Control

A l f a

G e n e r a t o r s


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Fund Management & Advisory

Any person claiming/charging fee against fund management or

advisory activity has a duciary responsibility to its customers

to generate superior return at a given risk compared to the no

brainer relevant benchmark and the peers. But, data suggest that

more than 70% of the fund managers across times and across

countries have failed to do so and those who could do it have

contributed meaningfully to investors’ wealth creation.

This being the fact, Narnolia has always seen good enough

meaning in allocating higher percentage of its resources than

the industry average towards this pursuit of generating this risk

adjusted out-performance. The research team at New Delhi under

the leadership of Mr. Shailendra Kumar, co-founding director and

research head, has worked for over 10 years towards this pursuit

by exploring all known strategies and tools of superior return on1641 stocks (99.5% of market cap) with the use of 80 valuation

techniques based on the best practices of both quantitative and

qualitative research models.

The performance of various model portfolios created based on

above data and techniques have generated alpha at a desired

beta over the back tested period of over 10 years and empirical

period of 3 years, which was enough in absolute and relative

terms to draw the attention of the leaders of the industry across

the world and then to launch our registered portfolio management

and advisory services.

Wealth Creation Objectives for Investors

1. Beat the relevant index on a sustainable basis over the

years without taking extra risks and, thus, to remain

amongst the top fund mangers and advisors.

2. Beat the return on bank deposits by atleast 200-300% in

all of the equity schemes over a long time horizon.

Wealth creation Objectives for Traders

1. Maintain the overall success ratio to the bare minimum of

55%.

2. Keeping the success ratio better than the industry.

“The normal client has

a risk tolerance of 100 %

equity when the markets are

up and 0 % equity when the

markets are down”

Anonymous


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Wealth Management Services

Wealth is dened as the difference between what one owns

and what one owes. It can be in the form of personal property,

monetary savings and capital wealth.

Objective

To help the investors to know, understand and prioritize their

total needs in different phases of life and then to use all of its

scarce resource in a way that it leads to nancial independence

and mental peace.

Investment Methodology

What differentiates our Wealth Management service from others

is its approach which is both holistic and individual customer

centric with value addition at each stage :

1. First, we help the investors to identify various needs

that he might be or should be having for his dependent

children and dependent retired seniors. We, then, help

them to identify his and spouse’s various hidden needs,

intermediate needs and their own retirement needs. As

the resources are limited and the cost of each need is

inationary in nature we help the investors to quantify

and prioritize such needs and then help them to plan for

various needs depending on his personal constraints, viz,

time horizon, risk appetite and nancial resources.

2. Secondly, we educate each client to understand the

needs and the earning power of his resources on the risk

– return parameters.

3. Thirdly, We estimate conservative returns of each of the

11 avenues over a period consistent with needs’ time

horizon. And then the standard deviation, covariance and

correlation are calculated.

4. Fourth, all these estimates are fed into the in-house

computer optimizer and after lots of analysis of various

combinations best suitable portfolio is arrived at.

5. Fifthly, the investment policy is nalized accordingly with

a comprehensive road map in terms of where to invest,

how much (strategic and tactical allocation) to invest

in different avenues and how to measure performance

in future against the benchmarks. For this purpose

'Eastwind' has developed 65 different indices to make

the comparison meaningful.

“The real question to ask is

not ‘ is it a good solution?’;

instead, it should be ‘is this

solution appropriate for our

customers?”

Anonymous


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Wealth Management Services : Process

Monitoring

Investing

Objective

AttainmentInvestment

Objective

Monitoring

Money

Managers

Portfolio constructionand revision

Money managerSelection, implement

and execution

AssetSimulation Model

InvestmentPolicy

CapitalMarket

Expectation

Objectives & constraints

“The recommendation to

buy equities is not for higher

return alone but because

they are one of investor’s

safest assets”

Evenskey

6. Sixthly, diversify the portfolio in each avenue to generate

superior return with the support of the world-class in-

house wealth creation model.

7. Seventhly, the performance of each manager/scheme

is tracked:luck v/s strategy relative to index, their

benchmark, other peer group managers. In case of

consistent underp-erformance, particularly due to

compromise in philosophy, process and people the

manager is red.

8. Last, we conduct regular client reviews, rebalance and

modify allocated funds as per changes in client needs,

opportunities, fund size and natural imbalance due to

differential growth.

Wealth Management Products : There are two ways

to take benet of wealth management services:

a. My goal / goals : Those who want to take benetof the whole exercise of the world class wealth

management services of India for one or more of

their denite need/needs can avail this facility. This

option is suitable to those who either don’t have the

constraints of resources vis-a-vis their needs or to

those who want to take time before moving to the

comprehensive one.

b. My penny : This is the most comprehensive wealth

management policy wherein the wealth manager

becomes a family nancial doctor of the investor

for all of his needs and aspirations as against their

constraints.


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Strategic Alliance

Narnolia was amongst the very rst few to have recognized,

believed and widely propagated the India growth story. The

country is passing through unprecedented phase of growth

which comes once in 200 – 300 years of life cycle of a nation. It

would mean different things to different people and will inuence

different people in different sectors and in the same sector or even

in the same industry very differently. Thankfully, broking industry

is likely to be one of the major beneciaries of this unprecedented

growth, but as always there wont be any single best path to

success and no exclusive approach to seizing opportunities. Those

suitably placed will grow multifold at the cost of others who will

fail to adapt. Few of the projections based on our research work

on ‘Contextual Intelligence‘ can be of relevance : by 2022 SENSEX

can grow 6.5 times, broking industry can grow over 5 times, top

10 broking rms can have 68.2% market share, trading income

to decline to 1/8th, advisory income to grow 8 times…

What is in store for you? How can you be a beneciary of

this unprecedented growth and threat cycle?

15 years of intensive research and experience of the company

and the broking industry across times and across nations have

helped us to evolve best product mix in the country and 5 different

ways to survive and grow – depending on specic circumstances

of each company (For details please visit narnolia.com/index.

php/strategic-al liance/5-ways-of-survival-and-growth/).

Different combinations are worked out based on the 78 steps, 35

processes and suitable capabilities which can help our strategic

partners to ride and enjoy this journey of growth.

Who can be Benetted

Common interests give rise to partnerships, common minds

make it grow and it is the common values and beliefs that make

it sustainable. Those in the following businesses and those who

share our values and approach can join hands with us to createsynergy :

• Broking Firms

• Banks

• Depository Participants

• NBFCs

• AMCs

• Insurance Companies

• Arbitrageurs, Big Sub Brokers, Trusts etc.

'Shared interests give rise to

partnership, shared minds

make it grow, but it is the

shared values that make it

sustainable'

K Narnolia


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Distribution

» Primary Market : Initial Public Offer (IPO) by non listed

companies or follow on offer by presently listed companies

present good opportunities for making high returns on

investment in a very short period of time. However, contrary

to common belief investment through new issues does not

always give high return or guarantee capital protection.

We provide you the list of all forthcoming new issues & in-

depth analysis of all such issues. Online bidding collection

centres at multiple locations and a detailed news, views,

follow up, recent listings etc are provided to our investors

free of cost. We have a dedicated servicing team to help

you to relieve you of all possible hassles of investing in new

issues.

» Insurance : As per several estimates it is observed that

Indians are grossly under insured due to lower per capita

income, low level of understanding of this hidden goal and

also due to the havoc created by the insurance agents. We,

at NARNOLIA, realize the importance of insurance as one

of the most important need of an individual which will soon

be bought willingly by the investors as a part of the asset

allocation exercise; instead of being sold to. We entered

into some exclusive tie ups with the leading life and non

life insurance companies of the country. The policies are

sold strictly as per the needs of the investors keeping inmind the total cost-benets of insurance to the clients.

» Mutual Funds : Mutual fund schemes are preferably sold

as a part of Model Portfolio (MMP). But, all those who want

to buy schemes beyond the recommended portfolio can

do so through our distribution channel. We can assist our

investors here to create wealth because of :

a. Our tie up with almost all the AMCs operating in the

country.

b. The exclusive tie up with India’s premier Mutual Fundadvisor-Value Research, headed by Mr. Dhirendra

Kumar with whom a monthly magazine Narnolia

Mutual (a part of Narnolia Wealth) is jointly published.

c. The globally acclaimed in-house research team

of Eastwind, a Narnolia research Initiative, which

allocates SPR ratings to various mutual fund schemes

based on the future superior return rather than the

historical performance. The model portfolio suggested

by Eastwind has been able to generate superior return

than the benchmark on a consistent basis

'It is not the strongest of the

species that survive, nor the

most intelligent, but one

most responsive to change'

Charls Darwim


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Commodities and Currencies

Of late commodities and currencies are emerging fast as

meaningful options of investment along with other asset classes

and are likely to have a deeper root with the participation of

wider segments of market participants like investors, hedgers,

arbitrageurs, traders, manufacturers, planters, importers,

exporters etc. It is expected that volumes in commodities and

currencies will surpass the volumes in equity. Both on-line and

off-line trading facilities along with specialized in-house research

advisory based on technical and fundamental analysis are made

available to support various participants in a suitable to their

needs.

Narnolia Knowledge Center

“Scientia potentia est i.e. knowledge is power” was said originally

by Sir Francis Bacon in 1597 but its relevance was never realized

more than today when knowledge is considered both as the

product and the crucial factor/enabler in the development of

both society and, increasingly, of the economic conditions of

the individual, organization and the nation. This change was

brought about or facilitated by the emerging interlocking forces

of globalization and the emerging dominance of service sector led

economies enabled by the revolutions in technology, media and

telecommunication.

Over the last few years the importance of knowledge is being

realized to arrive at the investment decisions as the ination

adjusted return on the age old no brainers ally i.e. bank/ post

ofce deposit is hardly enough in the context of the rising

aspirations of TV dominated nuclear family, easy consumption &

investment nance , convergence of entertainment, retailing and

tourism.

In view of this we, at Narnolia, decided to create an independent

department to impart knowledge and training to the investors,

traders and also to the company employees. It includes the basic

and the advance course on Indian nancial system, macro economic

indicators, India story, technical & fundamental analysis, wealth

management, working of various nancial markets comprising

money market, bond market, stock market, commodity market

and the forex market etc.

“A true professional is

one who adheres to ethical

standards and is accepted

by others as possessing

relevant knowledge and

skills derived from research,

education and training, and

who is prepared to apply it

in the interest of others”

Dictionary


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Recognitions and Awards

• Nominated by CNBC as the 'Best Investment Advisor for

the East' for 2008.

• Recognized byFranklin Templeton as the 'Best DistributionHouse in the East in terms of no. of Applications’. Later a case

study was conducted on Narnolia at its US headquarters.

• Won the Best Franchisee Network of the Country Award

for 2004, 2006, 2007 & 2008 by MOSt.

• Honored with G D BIRLA award for the contribution to the

state of Jharkhand.

• Recognized for having leading market share in several IPOs

including one by Punjab National Bank for a market share of

84% in Jharkhand.

• Honored with “Business Leadership Award for Industrial

Development” by Indian Economic Development & Research

Association (IEDRA) at New Delhi.

• Honored with “Hall of Fame” award at Singapore and again

with prestigious “Champion of the Champions” Trophy of

the country by MOSL.

• Awarded by Reliance life as the Best Channel Distributor of

the country for several quarters of 2007-08.

• Got national and international recognition/appreciation by

various dignitaries and world media for the launch and

maintenance of Shari’ah compliant EW Islamic Index.

• The quantitative equity research of Eastwind is widely

recognized and tracked even by the leading names in the

nancial industry including Merryl Lynch, Blackrock, JP

Morgan, Ernst & Young LLP, Goldman Sachs, HSBC

Banking & Financial Services, Barclays Capital, First

Quadrant, PNC Bank, UTI etc.

• Thematic studies and co-research studies with Economic

Times on several topics drew huge public/institutional

interest.

• Annualized return of 23.69% on our unique "Quantrade

Strategy" where risk is almost ' Zero', even during bearish

market drew wide interests and recognition by industry

leaders locally and globally.

Each reward is nothing but a

residual result of relentlessly

asking the question 'how

can we improve ourselves to

do better tomorrow than we

did today'.

James Collins


23/24

Disclaimer : This report/message is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you.

Narnolia Securities Ltd. (Hereinafter referred as NSL) is not soliciting any action based upon it. This report/message is not for public distribution and has been furnished to you

solely for your information and should not be reproduced or redistributed to any other person in any from. The report/message is based upon publicly available information,

ndings of our research wing “East wind” & information that we consider reliable, but we do not represent that it is accurate or complete and we do not provide any express

or implied warranty of any kind, and also these are subject to change without notice. The recipients of this report should rely on their own investigations, should use their own

judgment for taking any investment decisions keeping in mind that past performance is not necessarily a guide to future performance & that the the value of any investment or

income are subject to market and other risks. Further it will be safe to assume that NSL and /or its Group or associate Companies, their Directors, afliates and/or employees

may have interests/ positions, nancial or otherwise, individually or otherwise in the recommended/mentioned securities/mutual funds/ model funds and other investment

products which may be added or disposed including & other mentioned in this report/message. NSL or any of its afliates or employees shall not be in any way responsible for

any loss or damage that may arise to any person from any action taken based on the above information or inadvertent error in the information contained in this report/message.

Launching of Islamic Index by

Smt. Sheila Dikshit in New Delhi

Nominated by CNBC

‘Best Investment Advisor, 2008’

Launching of Narnolia Mutual in Ranchi by

Mr. Dhirendra Kumar, CEO Value Research

Launching of Narnolia Market Twitter in Ranchi

by Mr. Ramesh Damani

Best Distribution House award by Franklin Templeton

who also conducted case study on Narnolia in USA

Best Franchisee award for 4 consecutive years

in the presence of Mr. Samir Arora

Hall of Fame” award by MOSt

in a function held at Singapore

Business leadership award by IEDRA

Felicitating Sri. B.K. Birla in Ranchi

Narnolia Securities Limited Cooprate View - Growth History, Products, Reviews, Vision and Mission

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