My day At Work

Saturday Saturday...I know it’s a song but right now I m wondering when this Saturday is going to end at the office...I was working constantly these 2 days at the office (Thursday and Friday). I used to start my work from 9 and end it by 6.30 pm. Long and tedious tiring days these have been. I almost just reached to iftar dastarkhwan yesterday.  And this day, today is like people are giving me rest, compensation for the past 2 days. J. Research is really a very hard working job and you can do it only if you love doing the job. People who aren’t interested would not survive in this profile of job. I work in the equity research profile and have to go through a lot of financial data’s of the companies. (I work for Pragmatic Wealth Management Pvt. Ltd. As an equity research analyst).Almost 652 companies each quarter. This is when we are getting ready to give out our magazine Islami Tijara for print. It is an excellent magazine which covers all the information about Shariah compliant stocks which makes possible for all the Muslims to invest in equity stocks. The stocks are screened for the sectors allowed according to Shariah. There are almost 9 sectors, according to Shariah, which comply to the rules and they are as follows:

• Þ     Automobiles
• Þ     Information technology
• Þ     Oil and gas
• Þ     Consumer durables
• Þ     Health care
• Þ     Industrial and capital goods
• Þ     Construction and realty
• Þ     Metals and mining
• Þ     Power and utilities

After screening for these sectors, the financial ratio aspect comes to the picture. The following are the aspects considered for the short listing of the Shariah compliant stocks:

• Þ     Total Debt of the company to total Market Capital of the company ratio should not be more than 33%.
• Þ     Total cash at bank of the company to total market capital of the company should not be more than 33%
• Þ     Total receivables (sundry debtors) of the company to the total market capital of the company should not be more than 33%
• Þ     Interest income earned of the company to the total income of the company should not be more than 5%

The company has an index of 211 stocks (ITE 211) from among the 652 Shariah compliant stocks, which it takes into consideration, which ranges from large cap, mid cap, small cap and micro cap companies. Another index of 35 companies (ITE 35) is made from the ITE 211 (especially large cap companies ) for people who would want to invest only in the large cap, blue chip companies. Some of the companies which comply to the Shariah norms are as follows:

• ü  TCS
• ü  RELIANCE INDUSTRIES
• ü  ONGC
• ü  WIPRO
• ü  TATA GLOBAL
• ü  SUN PHARMA
• ü  CADILA HEALTHCARE
• ü  GRASIM INDUSTRIES
• ü  INFOSYS
• ü  BHARTI AIRTEL
• ü  HINDUSTAN UNILEVER
• ü  HCL TECHNOLOGIES
• ü  LARSEN AND TOUBRO
• ü  M & M
• ü  BAJAJ AUTO
• ü  MARUTI SUZUKI
• ü  NESTLE INDIA

1. You can also visit the company’s website http://pragmaticwealth.net/Default.aspx
2. The company also has its own trading and broking platform. It can be visited at http://adaafadvisory.com/
3. The company’s extensively researched and content rich magazine can be availed through its website http://islamitijara.com/