ICICIdirect Centre for Financial Learning (ICFL) has announced the Season 4 of StockMIND, a yearly national level inter-college competition designed for students to learn the strategies of investing in the live stock market by using virtual money, thereby eliminating any risks involved.Participants are given 15 lakhs of virtual money which they have to invest in almost live market conditions through Virtual Stocks platform and attempt to grow their portfolio. StockMIND is held in two stages - post graduate students participate in StockMIND and the graduate students participate in StockMIND Grads.
The winner from every college participates in the national round and the winner of national round will get the Grand Prize of Rs. 1 lakh. The first runner-up and second runner-up will receive a cash prize of Rs. 50,000 and Rs. 25000 respectively. Winners at every stage will be given scholarships and other prizes.
More than 1.5 lakh students from 533 colleges have participated in the StockMIND Season 4 so far. The competition comprises of the following rounds:
College Round: Individuals from a particular institute compete amongst each other for a berth in the National round.
National Round: All those qualifying for the National Round compete against each other for the following winning spots:
Top 14 Intraday winners
Top 14 regional winners
Top 50 national winners
Grand finale declares the top three winners of the season.
According to ICFL, by participating in StockMIND, the participants can hone some of the essential skills like:
The most profitable stocks will usually be hidden in a large quantity of data. It requires analyzing heaps of data to spot them.
Shortlisted stocks need to be evaluated for short term and long term. This enhances the critical thinking in students.
To arrive at a decision on which stocks to invest in, requires astute decision making.
In the stock market, risks are unavoidable and students need to learn to take calculated risks to ensure a higher pay off.
ICFL also states, “The idea of StockMIND can be traced down to 3 motives. The first being the fact that money management is an important life skill- like swimming or cycling; as an individual if you learn this skill at the right age, it most likely that this skill will stay with you for the rest of your life. Secondly, the ignorance about investing in other financial instruments; currently less than 2% of the Indian population invests in Stocks and there is lack of knowledge among the people to explore new areas of investment options. Thirdly, once students graduate and start earning they are usually unaware of the various investment instruments where they can invest to yield better returns.”
'StockMIND - The quest for the best budding investor' was started in 2012 as a nationwide virtual stock trading competition for college students.
Launched in 2010, ICICIdirect Centre for Financial Learning is an initiative by ICICI Securities Ltd. which offers financial education to investors through knowledge programmes on Financial Planning, Wealth Management and Capital Markets. Over the years more than 3.5 lakh students have attended the programmes delivered through classrooms and web-based mediums.
ICFL has been conferred with the Award for Innovation in Learning and Best Online Learning Solution at the World Education Congress. It has also won the Emerging Brand Award at CMO Asia in Singapore.
Careers360 is the Online Partner of StockMIND Season 4.
Stay tuned to bschool.careers360.com for more news and updates on StockMIND.
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