--- name: india-equity-report description: Generate a detailed Buy/Sell/Hold equity research report for Indian stock market (NSE/BSE listed companies). Use this skill whenever the user asks for a stock analysis, equity research, investment recommendation, target price, fundamental analysis, technical analysis, or buy/sell/hold opinion on any Indian company or stock. Triggers on phrases like "analyse [stock]", "should I buy [stock]", "research report for [company]", "target price for [stock]", "is [stock] a good buy", "NSE/BSE stock analysis", etc. Always use this skill for any Indian equity research request — even if the user just names a stock ticker or company and asks "what do you think?" --- # India Equity Research Report Skill Generates institutional-quality Buy / Sell / Hold research reports for NSE/BSE-listed stocks, grounded entirely in **live data fetched from authoritative sources**. Never hallucinate financial figures. --- ## 0. Pre-flight: Read the data sources reference Before writing a single word of the report, read `/mnt/skills/user/india-equity-report/references/data-sources.md` (or the bundled copy at `references/data-sources.md`) for the definitive list of approved sources and fetch URLs. **Do not use any source not listed there.** --- ## 1. Workflow ### Step 1 — Identify the stock - Resolve the company name → NSE ticker (e.g., RELIANCE, INFY, HDFCBANK). - Confirm exchange: NSE preferred; BSE fallback (prefix `BSE:` if NSE unavailable). - If ambiguous, ask the user to confirm before proceeding. ### Step 1.5 — Fetch the Live CMP (MANDATORY — do this before anything else) > ⚠️ **CRITICAL**: Screener.in's page often displays a **stale cached price** (e.g., it may show "13 Feb - close price" even when the report is run on Feb 27). **Never use the price shown on the Screener.in page as the CMP.** It is unreliable. > ⚠️ **CRITICAL**: Yahoo Finance (HDFCBANK.NS etc.) shows **US-session delayed quotes** that can differ from the NSE close price by 10–15%. **Do NOT use Yahoo Finance as a CMP source.** It is structurally unreliable for Indian stocks. #### The canonical CMP fetch method Claude cannot execute GOOGLEFINANCE (that runs only in a live Google Sheet). Instead, use web search — Google's search result card pulls from the same Google Finance data feed and is equally reliable: **Step-by-step:** 1. Run `web_search: "[TICKER] NSE share price [CURRENT MONTH YEAR]"` (e.g., "HDFCBANK NSE share price March 2026") 2. **Read the price number from the Google Finance card in the search snippet** — this is the current or last-close price from Google Finance. 3. If the search snippet doesn't show a clear price, run `web_fetch: https://www.tickertape.in/stocks/[company-slug]-[TICKER]` — Tickertape shows a clearly date-stamped last NSE closing price. 4. As an additional fallback: `web_fetch: https://www.5paisa.com/stocks/[company-slug]-share-price` — 5Paisa also shows confirmed NSE close with date. 5. **Confirm the date**: The price must be from the most recent trading day. If the date shown is more than 3 trading days old, flag it as "last available closing price as of [DATE]". 6. **Record it as a concrete number**: e.g., `CMP: ₹869.05 [Source: Tickertape/NSE, 4 Mar 2026]` > ⚠️ **DO NOT** write raw formulas like `=GOOGLEFINANCE("NSE:HDFCBANK","price")` as the CMP in the report. Always resolve these to actual fetched numbers before writing the report. The report must display real prices (e.g., ₹869.05), never spreadsheet formulas. **Do not proceed to Step 2 until you have a concrete ₹ price with a date.** ### Step 2 — Fetch all raw data (do this BEFORE writing the report) Use `web_search` and `web_fetch` tools sequentially. Fetch **every** section below. Log each fetch with the source URL so the report can cite it. | Data needed | Primary source | Fallback | |---|---|---| | Current price, 52w high/low, market cap | **Step 1.5 above** (dedicated CMP fetch — NOT Screener.in or Yahoo Finance) | See Step 1.5 fallback chain | | Quarterly & annual P&L, balance sheet, cash flow | Screener.in — `https://www.screener.in/company/[TICKER]/consolidated/` | Tickertape.in | | Key ratios (P/E, P/B, ROE, ROCE, D/E, EV/EBITDA) | Screener.in same page | Trendlyne.com | | Promoter & institutional shareholding | Screener.in shareholding tab | BSE filings | | Latest quarterly results (numbers + commentary) | BSE corporate filings: `https://www.bseindia.com/stock-share-price/[COMPANY]/[TICKER]/[BSE_CODE]/` | NSE: `https://www.nseindia.com/get-quotes/equity?symbol=[TICKER]` | | Annual report / investor presentation | Company IR page (search: `"[COMPANY]" investor relations annual report site:[company].com`) | BSE filings PDF | | Management commentary & concall highlights | Screener.in concall transcripts tab OR `web_search: "[COMPANY] Q[N] FY[YY] earnings call transcript"` | Trendlyne concall | | News (last 90 days) | `web_search: "[TICKER] news 2026"` — use only ET Markets, Mint, Business Standard, Hindu BusinessLine, CNBCTV18, Moneycontrol | — | | Sector / industry data | CMIE / MOSPI / RBI reports via `web_search` | IBEF.org sector reports | | Technical indicators | `web_search: "[TICKER] technical analysis tradingview"` then fetch | Chartink.com screener | | **Peer valuation (P/E, P/B, ROE vs sector peers)** | `web_search: "[COMPANY] vs peers valuation comparison [SECTOR] 2026"` then fetch Trendlyne peers tab OR Tickertape comparison | Screener.in peer comparison | | **Analyst consensus target price** | `web_fetch: https://trendlyne.com/equity/[TICKER]/` — look for analyst target section (e.g., "38 analysts, target ₹1,154") | `web_search: "[TICKER] analyst target price consensus 2026"` | | Credit ratings (if applicable) | `web_search: "[COMPANY] credit rating CRISIL ICRA CARE 2026"` | — | | Regulatory / SEBI filings | `https://www.sebi.gov.in/` or BSE announcements | — | > ⚠️ **Rule**: Every number in the report must be followed by `[Source: ]`. If a number cannot be sourced, write "data unavailable" — never estimate or infer. ### Step 3 — Analyse Run the analysis frameworks in `references/analysis-frameworks.md`. ### Step 4 — Write the report Follow the report template in `references/report-template.md` exactly. **Mandatory additions to the Valuation section (v1.1):** - Include a **peer comparison table** (minimum 3 peers) showing P/E, P/B, ROE, Revenue Growth for each peer alongside the subject stock. Source from Trendlyne peers tab or Screener.in comparison. - Include the **analyst consensus target** (if fetched) as a reference data point alongside your independently derived target. Do not adopt it — just cite it as market context. ### Step 5 — Quality Check (MANDATORY before publishing) Before saving the .docx and presenting it to the user, perform a self-audit across these dimensions: #### 5a. Price & Formula Check - [ ] CMP is a real ₹ number (e.g., ₹869.05) — **not** a formula like `=GOOGLEFINANCE(...)` - [ ] No spreadsheet formula syntax anywhere in the report body - [ ] Price Snapshot box contains actual fetched numbers, not placeholders - [ ] CMP date is the most recent trading day (flag if >3 days old) - [ ] CMP source is Tickertape, Google Finance card, or 5Paisa — **NOT** Yahoo Finance or Screener.in price field #### 5b. Data Integrity Check - [ ] Every financial figure has an inline source tag `[Source: URL, date]` - [ ] No figures marked "data unavailable" that could reasonably be found with one more search — if so, do that search now - [ ] Screener.in price field was ignored (only historical financials used from there) - [ ] Yahoo Finance was not used for CMP - [ ] No analyst consensus figures invented — only cited if fetched from Trendlyne or news articles - [ ] Peer comparison table is present in the Valuation section with sourced figures #### 5c. Formatting & Structure Check - [ ] All section headers from the report template are present - [ ] Scenario Analysis table (Bull/Base/Bear) is included - [ ] Investment Verdict has separate guidance for (a) existing holders and (b) new investors, with specific price levels - [ ] Executive Summary opens with a specific, compelling observation — not a generic company description - [ ] SEBI disclaimer is present at the end - [ ] No misplaced or broken markdown (stray `#`, `**`, `>` outside intended sections) - [ ] Tables are properly formatted and all columns align #### 5d. Docx-Specific Check - [ ] Read `/mnt/skills/public/docx/SKILL.md` before generating the .docx - [ ] File saved to `/mnt/user-data/outputs/` and presented via `present_files` tool - [ ] Markdown summary also pasted in chat > If any check fails, fix it before presenting the report. Do not skip this step even under time pressure — a report with raw formulas or missing data is worse than a shorter but accurate one. --- ## 2. Hallucination Prevention Rules 1. **No fabricated figures** — All EPS, revenue, margins, P/E ratios must come from fetched pages. 2. **Cite every number** — Inline source tag `[Source: URL, date]` mandatory. 3. **No stale data** — If a fetch returns data older than 6 months for financials, flag it explicitly. 4. **No analyst consensus invention** — Only cite consensus if fetched from Trendlyne, Bloomberg Quint, or Refinitiv (via news articles). 5. **Uncertainty disclosure** — If a key data point (e.g., FY25 guidance) is not found after 2 search attempts, state "Not available at time of report." 6. **No price targets from thin air** — Target price must be derived from a visible DCF, P/E re-rating, or EV/EBITDA model using fetched numbers. 7. **Never display raw spreadsheet formulas in the report** — The CMP and all prices must appear as concrete ₹ numbers (e.g., ₹869.05) fetched via web search/Tickertape. Never write `=GOOGLEFINANCE(...)` or any formula syntax in the report body — this is a spreadsheet tool, not a report element. **Never use Screener.in's displayed CMP or Yahoo Finance** — both are unreliable for current NSE prices. Always obtain CMP via the Step 1.5 procedure. --- ## 3. Output format Deliver the report as a **downloadable `.docx` file** using the `docx` skill, AND paste a markdown summary in chat. Read `/mnt/skills/public/docx/SKILL.md` before generating the .docx output. Report length: 1,500–3,000 words (excluding data tables). ### Mandatory: Include a Live Price Snapshot box Every report must include a clearly visible **Price Snapshot** box near the top (in the cover/snapshot section) showing the actual fetched prices: ``` 📊 PRICE SNAPSHOT (as of [DATE]) CMP: ₹[actual price] Prev. Close: ₹[actual price] 52W High: ₹[actual price] 52W Low: ₹[actual price] Market Cap: ₹[actual value] Cr Source: Google Finance / Tickertape (NSE) Note: Prices reflect last NSE close. Verify current price on NSE/BSE before trading. ``` > ⚠️ All values in this box must be **real numbers fetched in Step 1.5** — never write raw spreadsheet formulas (e.g. `=GOOGLEFINANCE(...)`) anywhere in the report. Source must be Tickertape, Google Finance card, or 5Paisa — not Yahoo Finance. --- ## 4. Tone & Style - Write in the style of a Tier-1 Indian brokerage research report (e.g., ICICI Securities, Kotak Institutional, Motilal Oswal style). - The reference benchmark for style and depth is a Macfos Ltd. (BSE: 543787) style report — institutional quality, conviction-driven narrative, callout boxes for key insights and risks, specific dates/numbers throughout. - Use **callout boxes** (blockquotes `>`) for: key channel checks or "Practitioner's Edge" insights, ⚠️ critical financial risks (e.g. negative OCF paradox), valuation risk warnings, and anomaly explanations (one-time orders, base effects). - The **Executive Summary** should open with the most interesting real-world observation about the company — not a generic "Company X is a leading provider of Y." Lead with WHY the stock matters NOW. - The **Investment Verdict section** must include separate, actionable guidance for (a) existing holders and (b) new investors — with specific price levels, tranching strategy, and stop-losses. - The **Scenario Analysis table** (Bull/Base/Bear) is mandatory in every report. - The **Valuation section** must include a peer comparison table (≥3 peers) sourced from Trendlyne or Tickertape. - End every report with the standard SEBI disclaimer as shown in the template. --- ## 5. Benchmark Quality Dimensions Use these 5 dimensions to self-assess report quality before delivering: | Code | Dimension | Pass criteria | |------|-----------|---------------| | D1 | **Data Sourcing** | CMP from Step 1.5 (Tickertape/Google Finance, not Yahoo/Screener); all financials from Q-period filings with dates | | D2 | **Structure** | Price Snapshot box ✓, Bull/Base/Bear table ✓, split Verdict ✓, peer comparison table ✓ | | D3 | **Anti-Hallucination** | 100% of figures carry `[Source: URL, date]`; no invented consensus targets | | D4 | **Actionability** | Specific ₹ entry/exit/tranche levels for both new investors and existing holders | | D5 | **Output** | `.docx` file in `/mnt/user-data/outputs/` + markdown summary in chat | A report scoring < 5/5 on this rubric should not be delivered. Fix failing dimensions first.