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Equity Research | Gaurav Arora | Internship Experience

Updated: May 4, 2020

Gaurav Arora (21) is a graduate of B Com (H) from Shri Ram College of Commerce (SRCC'19). He is currently pursuing CA (Final due in May 2022) and is also a CFA Level 2 Candidate. As a non-engineer, he has come forward to share his internship experience for the benefit of all.

  • Internship Field: Equity Research

  • Company: Orion Wealth Management LLP

  • Location: GK-2, New Delhi

  • Duration: 2 months

How did you find out about the internship?

The opportunity came up through Internshala.

What were your responsibilities as an Equity Research intern?

I was responsible for conducting research on stocks shortlisted by Managing Partner of the firm. I had to assemble my findings and prepare a report on the same - Company Background, Business Model, Revenue Model, SWOT, Investment Rationale, Peer Analysis, Financial Performance (Valuation using DCF/FCF in Excel & Ratios such as PE, PEG, ROC, ROA, D/E, EV/EBITDA, EV/EBIT etc), track news around the stock, participate in conference calls, watch management interviews & sum all of it in the report itself and present the same to seniors. I usually got 5-6 days for covering 1 stock. I covered 6-7 stocks during my internship. The stocks were mostly Mid-Cap from Banking, Realty, Pharma & FMCG sector.

How much time did you contribute on a daily basis?

All the interns worked for 7/8 hours a day for 5 days a week.

What were the top 3 skills you acquired?

1. Valuation using excel

2. Research & presentation

3. Analysis of any company from fundamental point of view

How did your internship help you going forward in your career?

I did my internship after 2nd year of my undergrad and now I am pursuing CA & CFA. I have not yet started working full time (CA Articleship going on) but the internship experience has helped me in my CFA studies. I am able to link the concepts easily.

If someone wants to apply for the same role, what would be your advice to them?

Do some basic equity research courses along with a Financial Modeling course online before applying. It will help you in the interviews & during the internship.

Anything else you'd like to say to the non-engineers who'll be reading your post?

For those who are looking to apply on sites like Internshala, LetsIntern etc - Apply early, companies usually have 1-2 vacancies and they get them from first 50 applications. If you see an internship with more than 100 applicants, better search the recruiter on LinkedIn.


Gaurav shared his experience to help the non-engineers across the country. If you're a non-engineer, who has an internship experience that you think it can add value to others' lives, please fill this form - and also share it with others who might want to contribute.

A big shout out to Gaurav, who took out his valuable time to help others :)


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