Savings is a concept passed down from generations. Bank deposits and loans are standard terms, and today’s youth know a thing or two about saving up. However, they are elusive when it comes to stock trading and investing that improves the financial portfolio. To help students step into the world of stocks and investment, StockGro joined hands with IIM-Raipur to be the co-organizer of the esteemed institute’s business spectacle – the Virtual Stock Trading Competition. This event offered students an opportunity to showcase their financial and strategical acumen.
StockGro is India’s first social investment platform with a gamified virtual interface that enables users to discover trading strategies and compete and interact with some of the country’s best minds. It has become the primary platform across the 55 B Schools and colleges to learn trading and investment.
During the week-long extravaganza, the teams participated in a two-day trading simulation event on the StockGro platform. Every individual player was tested based on their ability to invest the right virtual amount in the stocks and the one with the highest yield was declared the round winner.
The trading competition was followed by a 20-minutes online quiz in which the qualifying teams attempted to display their financial knowledge and know-how. The second round winners later moved on to the final competition of Excel Based Simulation, where the top eight teams were set to battle it out in an interactive online simulation game. During this game, each team had a predetermined set of stock of all industries and had to predict asset performance based on the sector. It was a test of knowledge, implementation and judgement that eventually determined the best trader of all.
The winning team received a cash prize of Rs. 17k while the runner up and second runner up won Rs. 10k, and Rs. 5k respectively.
Enthusiastic about the partnership, Ajay Lakhotia, Founder StockGro, states, “Hands-on financial education and training continues to evade the young Indian population. By partnering with IIM-Raipur, I am happy to acknowledge that we were able to bring stock trading and investing at the forefront”. StockGro has also partnered with several reputed institutes to familiarize students with the elements of stock trading and investment.
Manoj Kumar Tarafdar, Executive member-Finatix- The Finance Club of IIM Raipur further adds, “At IIM-Raipur, we are always pushing the boundaries and working towards upskilling our students’ financial knowledge. With the help of StockGro, we were able to transition this knowledge to a greater scale via virtual but real-time stock trading events, offering the participants a peek into the real world”.