The Hindu Business Line : Karvy, IIM-L organise `Go-Trade' contest for B-school students

IT was a `live' tryst with the stock markets for management students across the country. About 110 teams from various management institutes managed live stock portfolios in the `Go-Trade' contest, a part of the recently concluded Manfest, the annual business event of Indian Institute of Management (IIM) Lucknow.

IIM Lucknow together with Karvy Stock Broking Ltd had launched the first of its kind of contest with the aim of testing the investment and portfolio management skills of the students in a competitive environment.

The teams taking part in the contest managed a portfolio worth Rs 60,000 over a period of two months.

The teams had to invest Rs 10,000 on their own while the rest was contributed by Karvy. The prize? The team with the highest portfolio was to walk away with a cheque of Rs 1 lakh.

Also, all teams were to keep 40 per cent of all the profits they made on the portfolio.

Demat and trading accounts were opened for the teams by Karvy through which they could trade on both the National Stock Exchange and the Bombay Stock Exchange.

One of the objectives of Karvy for conducting such a contest was to educate the students on the practical aspects of the markets, according to Mr Nitin Saxena, Vice-President North, Karvy Stock Broking.

"We conduct programmes to groom people for investing in the stock markets. This was a step in furtherance of that," he said.

To help the teams trade better, Karvy provided them with research reports and other inputs for investment.

Among the participating teams, 72 were from the IIMs, while the rest were from institutes such as Management Development Institute, Xavier Labour Research Institute and Faculty of Management Sciences, Delhi University.

Mr Nitesh Khandelwal, a first year student of IIM Lucknow, and his team topped with profits of Rs 40,000 at the end of the two-month period.

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