A descriptive chart showing asset classes regarding risk, return, benchmarking agencies, and

top-performing companies.
 Investment Portfolios

1. Income: 10 Lakhs INR per annum

Given the modest income level, we’ll focus on stable, blue-chip stocks with established market
positions that can provide steady, low-risk growth.

Portfolio A (Conservative)

1. HDFC Bank (35%): Known for strong financial performance and consistent growth in the
Indian banking sector, HDFC Bank offers stability and regular dividends.
2. Infosys (35%): A leader in IT services, Infosys provides reliable returns with global
exposure, catering to conservative investors seeking long-term growth.
3. Nestle India (30%): With steady demand in the FMCG sector, Nestle India offers
resilience and low volatility.

Reasoning: This portfolio focuses on reliable companies that are sector leaders. HDFC Bank
and Infosys bring stability from banking and technology, while Nestle adds a defensive
consumer goods element. This mix aims for stable, long-term returns with minimal risk.

Portfolio B (Moderate)

1. Reliance Industries (40%): A diversified conglomerate with stakes in energy, telecom,

and retail, Reliance offers balanced growth with a strong market position.
2. Tata Consultancy Services (TCS) (30%): Another major IT player, TCS, offers growth
with less volatility due to its global client base and high margins.
3. ITC Limited (30%): Known for its diversified business model in FMCG, cigarettes, and
hotels, ITC is low-risk but offers stable returns and high dividend yields.

Reasoning: This portfolio introduces growth-focused stocks like Reliance while retaining a
balance with stable choices like TCS and ITC. It’s designed to provide moderate returns while
managing risk through blue-chip holdings.

2. Income: 15 Lakhs INR per annum

We can introduce a mix of blue-chip and growth stocks for this income level, allowing additional
risk while maintaining stability.
Portfolio A (Conservative)

1. Hindustan Unilever (HUL) (40%): As a leader in the FMCG sector, HUL offers steady
growth and resilience against market downturns.
2. Bajaj Auto (30%): A strong player in the automobile sector, Bajaj Auto has consistent
returns and is less volatile, making it ideal for conservative investors.
3. Power Grid Corporation (30%): Operating in a regulated utility sector, Power Grid
offers stability with a decent dividend yield.

Reasoning: With HUL, Bajaj Auto, and Power Grid, this portfolio emphasizes sectors with low
volatility and consistent performance. It’s structured for conservative investors aiming for steady
returns.

Portfolio B (Moderate)

1. Axis Bank (35%): A private-sector bank with a high growth trajectory, suitable for
moderate risk-takers interested in the financial sector.
2. HCL Technologies (35%): Known for its solid earnings in IT services, HCL is less
volatile than other tech stocks while offering steady growth.
3. Marico Limited (30%): A major FMCG player with a resilient portfolio of brands, Marico
provides growth potential with a defensive edge.

Reasoning: This portfolio introduces growth-focused options like Axis Bank, balanced with HCL
Technologies and Marico stability. It’s geared toward moderate returns with manageable risk
through reliable sectors.

3. Income: 20 Lakhs INR per annum

This income level supports a mix of blue-chip and growth stocks focusing on sectors expected
to perform well over the medium to long term.

Portfolio A (Moderate Conservative)

1. Kotak Mahindra Bank (35%): A well-managed private bank with a robust financial
position, providing steady growth and low risk.
2. Asian Paints (35%): A leading player in the paints sector, known for consistent growth in
the home improvement market.
3. Tata Consumer Products (30%): Engages in diverse consumer goods, providing
resilience and potential for stable returns.
Reasoning: This portfolio includes sectors with lower volatility but stable growth, like banking,
consumer products, and home improvement. It’s designed for capital preservation and steady
growth over time.

Portfolio B (Aggressive)

1. Adani Ports and SEZ (40%): A logistics and port management leader offering growth
potential as India expands its infrastructure.
2. Larsen & Toubro (L&T) (30%): Known for its projects in infrastructure and engineering,
L&T offers both growth and stability in a crucial sector.
3. Biocon (30%): In the fast-growing biotechnology sector, Biocon is a good option for
investors interested in long-term, high-growth potential.

Reasoning: This portfolio focuses on high-growth sectors like infrastructure and biotechnology,
suitable for investors with a higher risk appetite. Adani Ports, L&T, and Biocon expose sectors
that are expected to expand in India’s growth story.

4. Income: 30 Lakhs INR per annum

At this income level, investors can diversify further with growth-oriented stocks and sectoral
leaders that balance stability with substantial return potential.

Portfolio A (Moderate)

1. ICICI Bank (35%): A private-sector bank with a solid financial base and growth potential,
ICICI is positioned well in India’s banking sector.
2. Bharti Airtel (35%): A significant telecom player benefiting from increasing data
consumption and subscriber base in India.
3. Dabur India (30%): An FMCG company with a diversified portfolio in health and
wellness, offering stability with growth potential.

Reasoning: This portfolio is balanced with sectoral leaders that provide stable returns and
moderate growth in telecom, banking, and FMCG, minimizing volatility while capturing upside
potential.

Portfolio B (Aggressive)

1. Divi's Laboratories (35%): A leader in the pharmaceutical sector, Divi’s benefits from
global pharmaceutical outsourcing and high growth in health demand.
 2. UltraTech Cement (35%): As the largest cement manufacturer in India, UltraTech
benefits from infrastructure development, making it a solid growth stock.
3. JSW Steel (30%): A steel industry leader, providing exposure to the metals sector with
growth potential as industrial demand rises.

Reasoning: This portfolio introduces high-growth stocks in pharmaceuticals, construction

materials, and metals, aligned with India’s infrastructure and healthcare growth trends, suitable
for risk-tolerant investors.

5. Income: 50 Lakhs INR per annum

This income class can handle a more aggressive allocation, including sector leaders with high
growth potential and some international diversification.

Portfolio A (Moderate)

1. HDFC Ltd (35%): A leader in housing finance, benefiting from India's growing housing
market.
2. Pidilite Industries (35%): Known for its stronghold in adhesives and chemicals,
providing steady growth in the construction and FMCG sectors.
3. Infosys (30%): A reliable tech company with global exposure, providing a balance of
stability and growth.

Reasoning: These stocks offer growth with a moderate risk profile, balancing sectors like
finance, technology, and chemicals to provide steady returns while hedging against market
fluctuations.

Portfolio B (Aggressive)

1. Bajaj Finance (40%): A leading non-banking financial company with high growth in
consumer finance.
2. Hindalco (35%): A significant metal sector player benefiting from the global demand for
aluminum and copper.
3. Zomato (25%): A growth-oriented, high-risk stock in the technology and food delivery
sector with significant growth potential in India's digital economy.

Reasoning: This portfolio is for high-risk tolerance, with Bajaj Finance for finance growth,
Hindalco for metals exposure, and Zomato as a high-growth digital economy play.
6. Income: 1 Crore INR per annum

High-income investors can afford aggressive growth portfolios with domestic, international, and
alternative investments for maximized growth.

Portfolio A (High Growth)

1. Reliance Industries (35%): Provides a diverse business model covering telecom,

energy, and retail, essential for high-growth portfolios.
2. Avenue Supermarts (DMart) (35%): A leader in retail with high growth potential in
India’s organized retail sector.
3. Maruti Suzuki (30%): A leader in the automotive sector, expected to benefit from growth
in car ownership in India.

Reasoning: Reliance, DMart, and Maruti represent sector leaders exposed to India’s telecom,
retail, and automotive growth, balancing high growth with stability.

Portfolio B (Balanced Aggressive)

1. Adani Green Energy (35%): Positioned in the renewable energy sector, capturing the
growth in clean energy initiatives.
2. Apollo Hospitals (30%): A major healthcare provider benefiting from increasing
healthcare demand.
3. Tesla (via International Mutual Fund) (35%): Exposure to electric vehicles and
technology through an international fund investing in Tesla.

Reasoning: This portfolio leverages growth stocks in high-demand sectors like energy,
healthcare, and international technology, balancing domestic growth with global innovation.
Primary Research to Find Out the Behavioral
Aspects of Investment
We can summarise the responses to the Investment Survey Google form as follows:

1. Age Range and Occupation Diversity: The survey participants are primarily in the 26-45
age group, comprising corporate employees, self-employed individuals, business
owners, and students. This range of backgrounds suggests varied financial priorities and
risk profiles.
2. Current Investment Activity: Most respondents invest, indicating an active interest in
wealth management. Their investments vary widely across asset classes, including
bonds, real estate, and mutual funds, highlighting a mix of conservative and growth-
oriented preferences.
3. Primary Investment Goals: Respondents’ investment goals primarily focus on long-term
financial security and specific life goals. Typical objectives include retirement planning,
property purchase, and funding children's education, reflecting future security and
immediate family-related needs.
4. Investment Allocation and Income Proportion: Most invest less than 10% of their
income, though a segment commits over 30%, especially those focusing on high-priority
goals like property purchase. This range of income allocation highlights differences in
financial commitment levels and affordability.
5. Investment Horizon: Investment timeframes vary, with many preferring a mid-to-long-
term horizon (5-10 years). In comparison, others look at either short-term (less than a
year) or very long-term (over 10 years) investments. These horizons reflect varying
levels of liquidity needs and risk tolerance.
6. Risk Tolerance and Market Downturn Response: The survey reflects a spectrum of risk
tolerance, from very low to very high. Responses to a hypothetical 20% drop in
investment value range from “selling immediately” to “doing nothing,” revealing diverse
attitudes toward market volatility.
7. Influencing Factors in Investment Decisions: Decision-making is influenced by expert
advice, past performance, and social media insights. Respondents also consult
investment apps and financial news channels, suggesting they prefer readily accessible,
reliable information sources.
8. Review Frequency and Monitoring: Review habits range significantly. Some participants
review their portfolios quarterly, while others check annually or only when necessary.
Some respondents stated they do not review regularly, indicating a more passive
investment management approach.
 9. Future Investment Plans and Strategy Adjustments: Many plans to expand their
portfolios by adding new asset classes or becoming more aggressive. Conversely, some
aim to adopt a more conservative approach. There’s a mix between pursuing portfolio
growth and maintaining stability.
10. Interest in Alternative Investments and Volatility Reaction: Interest in alternative
investments is generally low, with a few respondents expressing a “maybe” response.
Many participants are cautious about market volatility, preferring safer investments or
waiting out fluctuations rather than making impulsive changes.

Please note that the Google form responses are attached below:

Form Response link:

https://drive.google.com/drive/folders/1x2fIIvy5UByLYGfZ94V_pK1JxQAVJWhs?usp=drive_link