Valuation Analysis- Use valuation models (discounted cash flow and relative valuation models) discussed in the lectures to find out intrinsic value of the firms. Carry out scenario analysis for valuation in various market conditions such as pessimistic, normal, optimistic etc. (Details of the valuation calculations needs to be provided in a Microsoft Excel file for examination, assumptions of the valuation should be clearly mentioned in the MS Excel file.) Risk Factors - Potential risks associated with investing in the firm, industry and market as a whole.