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Risk profiling, asset allocation, valuation, ratios — investment adviser aur research analyst ke terms
Published by The Retail Trader · AUG 08, 2026 · Advisory & Research
Jo log aapko salah dene ke liye SEBI ke saamne registered hote hain, unka syllabus ye hai. Investment advisory, financial planning, research analysis aur securities market ki foundation — NISM ke Series X (Investment Adviser), Series XII (Securities Markets Foundation) aur Series XV (Research Analyst) workbooks se, unhi ke shabdon mein.
A se B tak ke terms:
• Accrued bonus — Figure that is not pre-defined at the commencement of the policy but is generally calculated at the end of every year.
• Adjusted book value (ABV) — Fair value of asset minus fair value of its liabilities.
• Admission to Dealing — The process of granting permission to the securities of a company to be listed in a Stock Exchange and to provide trading facilities for the securities in the market.
• Algorithmic or algo trading — Broad concept that refers to trading with a computer program that places buy and sell orders on the basis of predefined rules and conditions.
• Algorithmic trading — Algorithmic or algo trading is a broad concept that refers to trading with a computer program that places buy and sell orders on the basis of predefined rules and conditions.
• Allotment Advice — A letter sent to the successful applicant by the company stating allotment of shares or debentures or other securities against his application.
• Analysis and decision-making process — Combination of understanding qualitative factors that affect operational performance, such as efficiency of operations, competitiveness, business plans and work ethics of the management among others and quantitative factors.
• Analyst — A firm / company / an individual who is engaged either on his own behalf or on behalf of any other firm or organization is regularly publishing securities recommendations based on research either through print media and /or.
• Annual Maintenance Charges (AMC) — The charges collected by Depository Participants (DPs) towards maintenance of Demat accounts of the beneficiary owners (Account Holders), depending upon the value of holdings in the Demat account.
• Arbitrage — Simultaneous purchase and sale of an asset to take advantage of difference in prices in different markets.
• Arbitration — An alternative dispute resolution mechanism provided by a stock exchange for resolving disputes between the trading members and their clients in respect of trades done on the exchange.
• ASBA — An application for subscribing to a public issue or rights issue, along with an authorisation to self-certified syndicate bank to block the application money in a bank account.
• Asset Allocation — An investment strategy that aims to balance risk and reward - in the form of returns - by dividing the assets of an individual's portfolio according to his/her financial goals, risk tolerance and investment horizon.
• Asset Management — The function of managing the assets on behalf of a customer, usually for a fee.
• Asset Management Company — A company which handles the day to day operations and investment decisions of a unit trust.
• Auction — When a seller is not in a position to deliver the securities he has sold, the buyer sends in his applications for buying-in, so that the securities can be bought from the market and delivered.
• Authorized Person (AP) — Agent of the broker (previously referred to as sub-brokers) and is registered with the respective stock exchanges.
• Back office — The part of a firm that is responsible for post-trade activities. Depending upon the organizational structure of the firm, the back office can be a single department or multiple units (such as documentation, risk management.
• Bank account information — The application form may require the investors to provide bank account details of the sole or first holder at the time of purchase.
• Bank Accounts — Holding details for minor's investments will undergo change so that the account is operable by the minor-turned major.
• Banker to an issue — A scheduled bank carrying on all or any of the issue related activities namely acceptance of application and application monies; acceptance of allotment or call monies;
• Banks and institutional investors — Main buyers of government securities, and they bid the rates they are willing to accept and the final pricing of the instrument on offer depends on the outcome of the auction.
• Basis Point — One hundredth of a percentage point. Basis points are used in currency and bond markets where the size of trades mean that large amounts of money can change hands on small price movements.
• Bear — A pessimist market operator who expects the market price of shares to decline.
• Bear Market — A weak or falling market characterized by the dominance of sellers.
• Benchmark index — Indicators used to provide a point of reference for evaluating a fund's performance.
• Beneath this feature — Fact that the ETF is a mutual fund that has its value derived from the value of the holdings in its portfolio.
• Beta — A measure of the volatility of a stock relative to the market index in which the stock is included. A low beta indicates relatively low risk;
• Bharat Bond ETF — Exchange-traded fund (ETF) which tracks the Nifty Bharat Bond Index.
• Bid — An offer of a price to buy in an auction. Business on the Stock Exchange is done through bids.
• Block Trading — Buying and selling a block of securities usually takes place when restructuring or liquidating a large portfolio.
• Blue Chip — The best rated shares with the highest status as investment based on return, yield, safety, marketability and liquidity.
• Bonus Shares — Shares issued by companies to their shareholders free of cost by capitalization of accumulated reserves from the profits earned in the earlier years.
• Book building process — A process undertaken by which a demand for the securities proposed to be issued by a corporate body is elicited and built up and the price for such securities is assessed for the determination of the quantum of such securities.
• Book Closure — The periodic closure of the Register of Members and Transfer Books of the company, to take a record of the shareholders to determine their entitlement to dividends or to bonus or right shares or any other rights.
• Book Runner — A Lead Merchant Banker who has been appointed by the issuer company for maintaining the book.
• Book Value — The net amount shown in the books or in the accounts for any asset, liability or owners' equity item. In the case of a fixed asset, it is equal to the cost or revalued amount of the asset less accumulated depreciation.
• Boom — A condition of the market denoting increased activity with rising prices and higher volume of business resulting from greater demand of securities.
• Breadth of the Market — The number of securities listed on the market in which there is regular trading.
• Broker — A member of a Stock Exchange who acts as an agent for clients and buys and sells shares on their behalf in the market.
• Broker dealer — Any person, other than a bank engaged in the business of buying or selling securities on its own behalf or for others.
• Brokerage — Commission payable to the stockbroker for arranging sale or purchase of securities. Scale of brokerage is officially fixed by the Stock Exchange.
• Bubble — A speculative sharp rise in share prices which like the bubble is expected to suddenly burst.
• Bulk deal — A transaction in shares listed on an exchange where the total quantity of equity shares bought or sold exceeds 0.50 percent of the total number of equity shares of that company listed on the exchange.
• Bull — A market player who believes prices will rise and would, therefore, purchase a financial instrument with a view to selling it at a higher price.
• Bull Market — A rising market with abundance of buyers and relatively few sellers.
• Business Day — A day on which the Stock Exchange is open for business and trading in securities.
• Business Sector — Broad category comprising similar and related industries (example, Financial Services Sector encompassing Insurance, Banking, Credit Rating, Investment Banking.
• Buy back — The repurchase by a company of its own stock or bonds.
• Buy on margin — To buy shares with money borrowed from the stockbroker, who maintains a margin account for the customer.
C se D tak ke terms:
• C (Corporate Bonds) — Medium Return, Medium Risk option- Fund invests predominantly in fixed income bearing securities other than government securities.
• Call risk — Risk of a bond being prematurely called or repaid by the issuer exercising the right provided in the indenture of the issuance.
• Cash Market — A market for sale of security against immediate delivery, as opposed to the futures market.
• Cashless claim payment — One-on-one arrangement between the insurer and the Hospital/ Garage.
• Category II AIF — Is an AIF that does not fall in Category I and III and which does not undertake leverage or borrowing other than to meet day-to-day operational requirements or as permitted in the Regulations.
• Celebrity status — Celebrity status is self-fulfilling. Media promotes celebrity and its cult. Likewise, media promoted tech-boom.
• Certainty equivalent rate — Rate that a risk-free investment has to offer to be equally attractive with risky investment.
• Choice paralysis — The availability of too many options for investment can lead to a situation of not wanting to evaluate and make the decision.
• Churning — An unethical practice employed by some brokers to increase their commissions by excessively trading in a client's account.
• Circular trading — A fraudulent trading scheme where sell or buy orders are entered by a person who knows that the same number of shares at the same time and for the same price either have been or will be entered.
• Clearing — It refers to determine a) what members of a stock exchange are due to deliver and b) what members of the stock exchange are due to receive on the settlement date.
• Clearing Bank — Designated bank empaneled by the clearing corporation to receive and make payments for settlement of securities transactions.
• Clearing member — A member of a clearing corporation or clearing house of an exchange, who may clear and settle transactions in securities.
• Co-location — This refers to the facility provided by a stock exchange to its brokers to locate their computer servers at the premises where the exchange's own computer servers are located.
• Common Reporting Standards (CRS) — Part of the effort of Government of India for exchange of information between countries for prevention of tax evasion.
• Commutation — The exercise of the facility of taking a portion of the annuity corpus in a lumpsum.
• Computation of these numbers — Humongous task in terms of data-collection and its processing.
• Confirmation bias — Natural tendency to filter out information to retain only what confirms one's original belief.
• Confirmation process — The procedure for verifying trade details with a counterparty. This is generally done by exchanging via fax or e-mailing a document (i.e.
• Consolidated Account Statement (CAS) — Single/ combined account statement which shows the details of transactions made by an investor during a month across all Mutual Funds and also other securities held in the demat account(s).
• Consumer Durable Loans — Loans which may be availed for purchasing of consumer durables like television, refrigerator, etc.
• Coupon Bonds — Bonds which carry coupon rate and, thus, lender is entitled to periodic interest payments on such bonds.
• Credit card — Interest free borrowing option only if the use is within the limits specified, and the repayments are made by the due date each month.
• Credit card debt — Most expensive way to borrow but it is also the easiest because an individual needs to just swipe the card or enter the details online and the transaction is completed.
• Credit rating — Alpha-numeric symbol that expresses the credit rating agencies assessment of the ability and intention of the borrower to meet the obligations arising from the debt.
• Cross-margin benefit — A reduction in total margin payable on offsetting positions in the cash segment and derivatives segment.
• Currency derivatives — Contract between the seller and buyer, whose value is to be derived from the underlying asset, that is, the currency value.
• Currency risk — Inherent risk for bonds issued in non-domestic currency by domestic borrowers in the international market.
• Daily Margin — The amount that has to be deposited at the Stock Exchange on a daily basis for the purchase or sale of a security.
• Dealer — A firm that enters into transactions as a counter-party on both sides of the market in one or more products.
• Debt servicing — All payments due to lenders, whether as principal or interest.
• Debt to income ratio — Indicator of the individual's ability to manage current obligations given the available income and a parameter used by lenders to determine eligibility for additional loans.
• Delivery — Presentation of securities with transfer deeds in fulfillment of a transaction.
• Dematerialize — The process of transforming securities holdings in physical form to those in electronic form through a Depository Participant.
• Depository — A system of organization, which keeps records of securities, deposited by its depositors.
• Depreciation — Gradual and permanent reduction in value of assets on account of ageing, use and obsolescence.
• Depth of Market — The number of shares of a security that can be bought or sold at the best bid or offer price.
• Direct investments — Investors buy the securities issued by companies and government bodies and commodities like gold and silver.
• Direct Market Access — An electronic facility that allows institutional investors to place their buy and sell orders directly on the Order Book of the stock exchange instead of placing such orders through brokers.
• Diversification — Having a combination of investments in a portfolio in such a way that a fall in the value on one or few will be made up by other investments that are doing well.
E se I tak ke terms:
• Earnings per share — Net profit divided by the number of outstanding shares.
• Electronic Gold Receipt — An electronic receipt issued on the basis of deposit of underlying physical gold in accordance with SEBI regulations.
• Embedded value — The present value of the expected net future cash flow (adjusted for probability) of a life insurer from the policies that are currently in force.
• EVA and MVA — Most common metrics used to determine a company's value.
• Event Risk — An unexpected or unplanned event that forces the value of an investment to drop substantially.
• Ex-Dividend Date — The date on or after which the buyer of a security is not entitled to the dividend already declared.
• Ex-Right Date — The date on which the official quotation for a share is marked XR i.e.
• Exchange of asset — Under Section 118 of the Transfer of Property Act, 1882, 'exchange' is defined to mean when two persons mutually transfer the ownership of one thing for the ownership of another thing, neither thing nor both things being money.
• Exchange traded fund (ETF) — Security that tracks an index, commodity, bonds, or a basket of assets like an index fund and is traded in the securities market.
• Exchange traded funds (ETF) — A security that tracks an index but has the flexibility of trading like.
• Exchange-traded derivative — A derivative which is listed and traded at an organized market-place.
• Extinguishment of rights — The word 'extinguishment' has also not been defined in the Act. It refers to the case where rights of a person in a capital asset have extinguished and not the extinguishment of the capital asset.
• Face Value — The value that appears on the face of the scrip, same as nominal or par value of share/debentures.
• Family office — An organisation that handles the wealth of a wealthy family.
• Financial planning — The process of streamlining the income, expenses, assets and liabilities of the household or individual to take care of both current and future need for funds.
• Firm allotment — Allotment on a firm basis in public issues by an issuing company made to Indian and multilateral development financial institutions, Indian mutual funds, foreign portfolio investors including non-resident Indians and overseas.
• Float — The number of shares issued and outstanding of a company's stock.
• Floating rate coupon — Coupon rate that varies with (floats against) a standard market benchmark or index.
• Floating Stock — The fraction of the paid up equity capital of a company which normally participates in day to day trading.
• Framing — Framing Bias is an information-processing bias in which a person answers a question differently based on the way in which it is asked (framed). An investor's choices are influenced by how information or facts are presented.
• Framing Bias — Information-processing bias in which a person answers a question differently based on the way in which it is asked (framed).
• Free float share — Number of shares held by non-promoter group shareholders.
• Fund Factsheet — Monthly report made available to investors by a mutual fund manager.
• G (Government Securities) — Low Return, Low Risk option- Fund invests predominantly in pure low risk government fixed income securities.
• Gift — A gift deed is a highly efficient way of transferring immovable assets from one generation to another. The benefit it derives from the fact that the transfer happens immediately and does not have to wait for years.
• Goods and service tax — Tax that is charged at the time of sale of goods or services.
• Herding bias — Tendency to follow the actions of a larger group, whether those actions are rational or irrational.
• Home loans — Long-term loan and the period for this can stretch even for 30 to 35 years subject to working age limits.
• Income — An investment's earnings in the form of interest or dividend payment.
• Income Benefit Rider — Rider that allows the policyholder's nominee to get a specific amount of sum periodically as a fixed income in the event of the policyholder's death during the duration of the plan instead of getting it as lumpsum on the death.
• Increasingly the Total Return Index — Measure that is being used and if this kind of data is not available for the benchmark then it might not be able to give the correct picture.
• Inflation — The general increase in price levels of goods and services in the economy leading to an erosion of purchasing power of money.
• Inflation Risk — Risk faced by an investor of inadequacy of funds received from the bond investment to fulfil the deferred needs.
• Initial public offer — An offer of specified securities by an unlisted issuer to the public for subscription and includes an offer for sale of specified securities to the public by any existing holder of such specified securities in an unlisted issuer.
• Insider information — Material non-public information that when published would immediately affect an investor's decision to buy or sell the security.
• Institutional Investors — Organizations those invest, including insurance companies, depository institutions, pension funds, investment companies, and endowment funds.
• Insurance Ombudsman — Person appointed by Government of India under the Redressal 36 37Para 1 of the Guidelines for Grievance Redressal by Insurance Companies dated July 27.
• Interest during construction period — Interest during construction period refers to the interest paid on capital borrowed for the period prior to the financial year in which the property was acquired / purchased.
• Interest payment — Obligation, which if not met will be seen as a default.
• Interest Rate Derivative — Financial derivative contract whose value is derived from one or more benchmark interest rates, price, interest rate instruments, or interest rate indexes.
• Interoperability of clearing corporations — A mechanism that allows the clearing house of one stock.
• Interval funds — Variant of closed end funds which become open-ended during specified periods.
• Intrinsic value — Estimated value per equity share, based on the future earning potentials of a company.
• Investments such as mutual funds — Easy way for investors to diversify their investments even with a small investment amount.
J se P tak ke terms:
• Joint holding — The property is held by more than one person and can be accessed by such joint holders subject to the mode of operations.
• Joint ownership — The property may be held in a joint ownership where on death of one owner the share of his property is transferred to the second owner. This ownership structure is quite common within spouses.
• Keyman Insurance — Life insurance policy that a company purchases to cover itself in case of the loss of life of a key executive.
• KYC Compliance — KYC completion status of the applicant must be provided in the application form, and proof of being KYC compliant also needs to be provided at the time of making the investment.
• Life expectancy — The number of years an individual is expected to live and is dependent on various factors such as health condition, scientific advancements etc.
• Listed Company — A company which has any of its securities offered through an offer document listed on a recognized stock exchange and also includes Public Sector Undertakings whose securities are listed on a recognized stock exchange.
• Lock-in period — A PPF account is a fixed-income, long term investment with a lock- in period of 15 years. Premature withdrawals are allowed after 5 years subject to certain conditions and limits.
• Long Position — A position showing a purchase or a greater number of purchases than sales in anticipation of a rise in prices.
• Margins — Amount of funds that one has to deposit with the clearing corporation in order to cover the risk of non-payment of dues or non-delivery of securities.
• Marked-to-market basis — The process whereby the book value or collateral value of a security is adjusted to reflect current market value.
• Market Maker — A member firm who give two way quotations for particular security(ies) and who is under an obligation to buy and sell them subject to certain conditions such as overall exposure, spread etc.
• Market price — Price at which the share trades in the stock market, considering several factors including various estimates of intrinsic value.
• Matched Transaction — A check is carried out on the computer to find out whether purchases and sales as reported by the members match.
• Mental Accounting Bias — Information processing bias in which people treat one sum of money differently from another equal-sized sum, based on which mental account the money is kept.
• Merchant Banker — Any person who is engaged in the business of issue management either by making arrangement regarding selling, buying or subscribing to securities or acting as manager, consultant, adviser or rendering corporate advisory services.
• MIBOR — Mumbai Interbank Offer Rates. Calculated by the average of the interbank offer rates based on quotations at nearly 30 major banks.
• Mobile trading — This refers to placing orders and trading through mobile trading applications on devices such as smart-phones and tablets.
• Mutation of property — State matter and therefore is carried out as per the state specified laws.
• Mutual Fund Utilities (MFU) — Shared service platform for mutual fund transactions promoted by the mutual fund industry.
• Offer Document — As per SEBI (ICDR) Regulations, 2018, offer document means a red herring prospectus, prospectus or shelf prospectus, as applicable, referred to under the Companies Act.
• Offer period — The period between the date of entering into Memorandum of Understanding or the public announcement, as the case may be and the date of completion of offer formalities relating to the offer.
• Offer Price — Price at which units in trust can be bought. It might have an entry fee.
• Open Order — An order to buy and sell a security that remains in effect until it is either cancelled by the customer or executed.
• Order book — It is an 'electronic book' that shows the demand and supply of the shares of the company at various prices.
• OTC (Over the Counter) — A financial transaction that is not made on an organized exchange.
• Other comprehensive income — Income or expense that are required or permitted to by-pass profit and loss account.
• Overconfidence Bias — Bias in which people demonstrate unwarranted larger faith in their own intuitive reasoning, judgments and cognitive abilities.
• Pari Passu — A term used to describe new issue of securities which have same rights as similar issues already in existence.
• Passenger/cargo km — Bundled metric that is arrived by multiplying the number of passengers (or quantity of cargo) with the amount of distance travelled.
• Pay- out day — Day when the stock exchange makes payment of funds (in case of sale of shares) or delivery of securities (in case of purchase of shares) to the broker.
• Pay-in / Pay-out — The days on which the members of a Stock Exchange pay or receive the amounts due to them are called pay in or pay out days respectively.
• Pay-in day — Day when the brokers shall make payment of funds (in case of purchase of shares) or delivery of securities (in case of sale of shares) to the stock exchange.
• Pay-in of funds/ securities — The transfer of funds/ securities from brokers account to the exchange's account.
• Pay-out of funds/securities — Transfer of funds/securities from Exchange account to Broker account.
• Permanent Account Number (PAN) — PAN has been notified as the single identification number for all capital market transactions. Barring some exempted small value transactions, it is compulsory for all categories of investors to quote PAN in the application form.
• Ponzi scheme — Fraudulent investment scheme promising high rates of return to investors.
• Power of Attorney — Document of high importance as it is capable of giving your rights and access over your accounts and money to somebody else.
• Preferential issue — An issue of specified securities by a listed issuer to any select person or group of persons on a private placement basis in accordance with SEBI Regulations and does not include an offer of specified securities made through.
• Premium Margin — Premium amount due to be paid to the Clearing Corporation towards premium settlement, at the client level.
• Price sensitive information — Any information which relates directly or indirectly to a company and which if published is likely to materially affect the price of securities of the company.
• Pricing power — A company's ability to independently determine and charge the price of its products.
• Private Equity Firms — Term used to define funding available to companies in the early stages of growth, expansion or buy-outs.
• Prospectus — Any document described or issued as a prospectus and includes any notice, circular, advertisement or other document inviting deposits from the public or inviting offers from the public for the subscription or purchase.
• Proxy — One who votes for and on behalf of a shareholder at a company meeting.
Q se Z tak ke terms:
• Qualified Institutions Placement — Issue of eligible securities by a listed issuer to qualified institutional buyers on a private placement basis and includes an offer for sale of specified securities by the promoters and/or promoter group on a private placement.
• Recency bias — Individuals make decisions based on recent results, or on their perspective of recent results, which may lend itself to making incorrect conclusions based on the recent past.
• Record Date — Date on which all those who are on record as shareholders of a company get the benefit of corporate actions of that company.
• Regulatory Sandbox — A framework set up by a regulator to enable FinTech start-ups to conduct live experiments of innovations in a controlled manner under the supervision of the regulator.
• Relinquishment of asset — The word 'relinquishment' has not been defined in the Act. A relinquishment is said to have taken place when the owner withdraws himself from the property and abandons his/her rights thereto.
• Rematerialization — Reverse of dematerialization and is the process of converting securities held in electronic form into physical form.
• Repo Rate — The central bank is lending against securities, Reverse Repo is when it is borrowing money against securities.
• Research Analyst — A person who is primarily responsible for - Preparation or publication of the content of research report.
• Retail therapy — A situation where a person goes on a shopping or buying binge in order to reduce the stress.
• Return — The benefits that the investor will receive from investing in the security.
• Risk — The possibility that the expected returns may not materialise.
• Risk in an investment — Volatility and uncertainty in the returns and in the extreme case, the loss of capital invested.
• Risk Profiling — It is mandatory for an Investment adviser to undertake the process of risk profiling of the investor. This gives an idea about the position of the investor and the kind of risk that they are able to take.
• Rolling settlement — The practice of settling a transaction within a fixed number of days after the trade is agreed.
• Rupee Cost Averaging — Process in which you invest a fixed amount of money at regular intervals irrespective of market fluctuations.
• Sale of asset — The word 'sale' construes a transaction voluntarily entered into between two persons, commonly known as the buyer and seller, by which the buyer acquires property of the seller for an agreed consideration, commonly known.
• Scheme of arrangement — Court monitored settlement process between the company and its creditors or members.
• Screen based trading — Form of trading that uses modern telecommunication and computer technology to combine information transmission with trading in financial markets.
• Selectivity on the other hand — Ability of the fund manager to select securities that will generate extra returns.
• Settlement Date — The date specified for delivery of securities between securities firms.
• Short position — In futures, the short has sold the commodity or security for future delivery;
• Specified account — An account maintained in a notified country which is maintained for retirement benefits and the income from such account is not taxable on accrual basis and is taxed by such country at the time of withdrawal or redemption.
• SR equity share — The equity share of an issuer having superior voting rights compared to all other equity shares issued by that issuer.
• Status Quo Bias — When an individual has second thoughts or want to avoid regrets in decision making, often left with taking no decision at all and maintaining status quo.
• Stereo Typing Bias — Investors, while dealing with uncertainties, look for representative characteristics and base their decisions on the general perception about those characteristics.
• Stock splits — A distribution of company's own capital stock to existing stockholders with the purpose of reducing the market price of the stock, which would hopefully increase the demand for the shares.
• Stop-Loss order — Acting when prices move in the direction opposite to what was desired.
• Strategic asset allocation — Long term plan that is reviewed periodically for continued relevance to the individual's goals or situation.
• Sum insured — Amount specified in the policy that represents the insurer's maximum liability for claims made during the policy period.
• Systematic risk — Those risks whose impact is felt across investment categories.
• Tactical Asset Allocation — Decision that comes out of calls on the likely behaviour of the market.
• Tax effect — Tax effect of being a resident and ordinarily resident, resident but not ordinarily resident or a non-resident is explained under Section 7.4.5 of this chapter.
• Taxation — PPF comes under the Exempt-Exempt-Exempt (EEE) category of tax policy which implies that the principal amount is allowed as a deduction under section 80C while the interest earned and the maturity amount are exempt from taxes.
• Tier I — Mandatory retirement account, whereas Tier II is a voluntary saving account associated with PRAN of the subscriber.
• Tom trades — Trades where settlement (payment and delivery) occurs on the day next to the trading day (T+1, where 1 defines the time gap in days between trade and settlement day).
• Transfer Agents — An agent designated by the company to carry out the function of transfer of shares.
• Underwriting — An agreement with or without conditions to subscribe to the securities of a body corporate when the existing shareholders of such body corporate or the public do not subscribe to the securities offered.
• Unsystematic risk — Risk specific to individual securities or a small class of investments.
• Vanilla Issue — A straight fixed rate issue which has terms and conditions usually accepted as being conventional to a particular securities market.
• Volatility Risk — The risk when the stock prices of a company may fluctuate, even when those companies aren't in danger of failing.
• Volume of Trading — The total number of shares which changes hands in a particular company's securities.
• Volume-Weighted Average Price (VWAP) — Dynamic support/resistance price level often used by intraday traders.
• Whereas speculating — Act of purchase or sale of an asset in the expectation of a gain from changes in the price of that asset over any period of time, though usually short term.
• Zero Coupon — An instrument issued by not-for-profit organisations registered with Social Stock Exchanges.
Ye journal is series ka sabse chaura hissa hai, kyunki advisory ka syllabus sabse chaura hai. Ise ek baar mein padhne ki koshish mat karo — jab koi shabd kahin dikhe, tab yahan aakar dhoondho.
Is journal ke terms aur definitions NISM ke apne certification workbooks se liye gaye hain, sirf educational reference ke liye — ye koi official NISM material nahi hai aur na hi koi buy ya sell recommendation. Regulations aur limits SEBI time-time par badalta hai, isliye exam ya compliance ke liye hamesha NISM ka latest workbook hi authority hai.