Using secondary information is one of the best sources to top up our investment hypothesis, I have previously written on it here & here . One of the best sources of secondary information is research done by others, especially brokerage houses who do a good job and not one’s like this.

Recently Nirmal Bang’s Gaurang Dadwal & Akhil Parekh did an excellent initiating coverage for Atul Auto. This is close to the best investment report you will find freely from brokerage houses.

I have highlighted some of the new things that I was not aware about the company (Like they are paying more than competitors for engine) and have also tried to highlight how I read these reports – questioning, understanding, highlighting, scribbling until and unless I feel, i have got most out of it.

Download part 1 and 2 and share your observation and learning in comments
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