ICICI StockMIND 2018- Indulge into the world of Virtual Trading

ICICI stands for Industrial Credit and Investment Corporation of India. It is an Indian multinational banking company. In 2017, it was declared as the third largest bank in India in terms of assets and fourth in term of market capitalisation. It offers a wide range of banking products and financial services for corporate and retail customers.

ICICI Bank is rapidly expanding its business which requires a corpus of highly skilled manpower to run it efficiently. ICICI has started with a student engagement Initiative ‘StockMind’ to give an exposure to students who might be interested in pursuing their career in equity markets in future.

ICICI StockMind 2018 was rather unusual from other competitions as it inculcates (virtual) trading activity in lines with the real market. This is more practical-oriented exercise and is full of fun.

StockMind 2018 was open to both undergraduate and postgraduate students from B-schools and comprised of 2 rounds- Campus Round and National Round.

Students from individual campuses compete against each other in the Campus round to qualify for the National Round. The number of students that can qualify for the National Round per campus is proportional to the representation. With 50 or fewer participants in a campus, only 1 candidate was eligible, with 100 or less, it was set at 2 and if more than 100 in a campus 3 candidates were eligible

In the National Round, all eligible students from the Campus Round competed to win this final round. This round was played in March 2018, and the competition was centred around Equity - Cash and Margin.

Even though the structure of rounds was simple, however, the rules for playing the game were extensive, which are as follows:

The competition was active for 7 trading days only during market hours (9:15 am - 3:30 pm). A trading day is defined as a day on which both, the NSE and the BSE are open for trading.
At the start of the contest, INR 15 lakhs of virtual money was allocated to each participant. The participant with the highest Net Worth (cash in hand + value of stocks held) at the end of 7 trading days was declared as the winner. Similarly, the next two participants with highest Net Worth was declared as the first and second runner-up respectively.
Cash and Margin segments were enabled for this contest.
Participants may execute intraday (margin) as well as buy and hold stocks. A Qualifying Criteria for the Winner.
The minimum presence was required in 5 stocks (shares of 5 different companies).
The minimum number of trades required to qualify for the competition was set at 10.
Participants were allowed to trade only in the top 100 NSE stocks and top 100 BSE stocks.

Daily Turnover Restrictions

Participants MUST restrict their trading turnover to less than or equal to INR 3 crores. Turnover means the sum total of all the transactions executed on a particular trading day. This includes shares bought and sold on the same day, or shares sold on the current day which were purchased on some other trading day.

View the details of the competition here.

One-time Deviation

One error in terms of higher turnover from participants was allowed. However, the maximum excess turnover should NOT have exceeded INR 50 lakhs. This means that if a participant does a turnover of up to 3.5 crores on any day of the contest, it will be considered as a one-time deviation and the participant will not be disqualified. In the event that a participant exceeds the turnover of 3.5 crores, he/she will be disqualified from the contest, even if it is for the first time.

Anirudh Jain from Rajiv Gandhi Indian Institute of Management (IIM), Shillong was declared as the winner of ICICI StockMIND 2018, followed by Bhavya Rastogi from the same campus as the Campus Winner and Himanshu Jatale, another Campus Winner from Indian Institute of Management (IIM), Rohtak.

The Post Graduate Winner was awarded ₹100,000 with an all-expense-paid trip to Singapore, and a sum of ₹50,000 and ₹25,000 was bestowed on 1st Runner-Up and 2nd Runner Up respectively. The Graduate Winner received an amount of ₹50,000 and a paid trip to Thailand and 1st Runner Up and 2nd Runner Up students received ₹25,000 and ₹15,000 respectively. There were various other Gifts and Recognition bestowed on other winners. View the list here.

As per the responses received on Dare2Compete Awards, ICICI StockMIND 2018 was favoured by students of the B-schools as one of the top 20 the Most Prestigious B-School Competitions of the Year 2018.

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