Sales and Trading


Open an Account


Market Watch


Fundamental Research is at the core of value proposition offered to clients by Fortune Securities Limited. Fortune Research excels through the quality of its staff and its product commitment. Analysts provide insightful, objective and decisive research that is designed to enable clients make informed investment decisions. Information is disseminated to clients through electronic and printed research reports, conference calls, presentations and road shows.

All of our financial analysts are candidates in the CFA Program and we adhere to the CFA Code of Ethics and Standards of Professional Conduct. We vigorously control the quality of our research and encourage all of our analysts to adopt the latest techniques to maintain a leading edge in the industry.

Our equity research analysts cover numerous stocks in detail from a wide number of sectors which include Banking, Energy, Telecommunication, Media, Cement, Fertilizer, Oil Marketing, Oil Exploration and Production and Textile. 

Typical equity research report spans from 10-40 pages containing:

  • Investment highlights
  • Investment risks
  • SWOT analysis
  • Forecast of financial statements
  • Company profile
  • Financial statement analysis
  • Industry analysis

Result Previews and Reviews with updates of material changes

Fortune Teller – Our weekly product focuses on the upcoming events in the fortnight while analyzing any material news or event of the prior fortnight.

Valuation and Business Models

  • DCF Analysis
  • Dividend Discount Models
  • Sector and Company Analysis
  • Relative Analysis based on PE, PB, EV/EBITDA and other multiples

We do not limit ourselves to any predefined product and are open to individual requests from our clients catering to research queries customizing it to their needs.

Syed Raza Mohsin

Head of Research

Raza heads the Equity Research department at Fortune, managing a team of three equity analysts and two database associates. Besides supervising the department he also covers Banking, Cement and the telecom sector. Prior to joining FSL, he worked for 1 year at UBS Financial Services, New Jersey, one of the largest financial firms in the world where his primary responsibilities were to assist in investment taxation. Raza did his Bachelors from the City University of New York and is currently pursuing CFA.

Muhammad Ahsan Hussain

Research Analyst

A graduate of Georgia Institute of Technology (Bachelors) and Brown University (Masters), Ahsan covers the fertilizer sector at Fortune Securities. Previously, Ahsan interned in Investment Research at Geode Capital Management, a hedge-fund based out of Boston, United States. He also has 3 years of prior work experience in consulting and software development in the United States.

Following is the achieve of recently published research reports: