BBA 211 Security Analysis and Portfolio Management Notes cover all 4 units of the GGSIPU BBA Semester 3 Finance elective in 59 pages, with 28 solved numericals, 108 quick-revision points and a formula sheet for every unit. They follow the NEP-based BBA scheme for the batch admitted in 2024-25 onwards and come as a printed book.
Written by Prateek Talwar, Founder, Unnati Educations (ACS, ICSI) · Reviewed by Sheetal Kirola, BBA, B.Ed, Academic Head · Checked against BBAwef2024_25_200125.pdf (BBA Scheme & Syllabus, NEP based) · Updated 13 October 2026 · Editorial policy
Scheme: NEP-based BBA scheme, w.e.f. academic session 2024-25 | Applies to: batch admitted 2024-25 onwards | Verified against: BBAwef2024_25_200125.pdf on ipu.ac.in, 13 Oct 2026
BBA 211 Security Analysis and Portfolio Management at a glance: GGSIPU BBA Sem 3 credits, units and exam pattern
BBA 211 is the Finance paper among the third-semester electives, listed with the other GGSIPU BBA Semester 3 papers.
| Code and title | BBA 211 Security Analysis and Portfolio Management |
|---|---|
| Course and semester | BBA (NEP based), Semester 3, Finance specialisation |
| Category and credits | Elective: DSC / Major (Major Elective-1) or IDC / Minor (Minor Elective-1); 4 credits, L-4, T/P-0 |
| Teaching hours | 60: 15 per unit |
| Marks | 100: 40 internal (class test 15 + activities 25) + 60 end-term |
| Applies to | Batch admitted 2024-25 onwards |
| End-term pattern | Not printed in the official BBA scheme PDF |
| Exam duration | 3 hours |
| Paired lab | None |
| When offered | Only if 10% of students opt for it |
BBA 211 Security Analysis and Portfolio Management Notes unit-wise: 28 solved numericals across 4 units
These BBA 211 Security Analysis and Portfolio Management IPU notes run to 59 pages, each unit ending with a revision table and formula sheet. Notes for every other BBA paper are under GGSIPU BBA notes.
Pages 9, 25, 41 and 51 are in the sample PDF.
BBA 211 Unit 1: Risk-Return Analysis, Bond Valuation & Fundamental Analysis
Pages 3 to 19, 7 sections. Return types, SD, CV, beta and alpha; bond value, YTM, YTC, YTP and four bond risks with Malkiel's theorems; then EIC with 12 macro variables, the industry life cycle and a SWOT of Indian IT. Counts: 11 solved numericals, 27 revision points, formula sheet on page 19.
| Basis | YTM | YTC | YTP |
|---|---|---|---|
| Held till | Maturity | First call date | Put date |
| Option belongs to | No option | Issuer | Investor |
| Terminal value | Redemption value | Call price | Put price |
Quick look: YTM vs YTC vs YTP (from page 11)
- Basis
- Held till
- YTM
- Maturity
- YTC
- First call date
- YTP
- Put date
- Basis
- Option belongs to
- YTM
- No option
- YTC
- Issuer
- YTP
- Investor
- Basis
- Terminal value
- YTM
- Redemption value
- YTC
- Call price
- YTP
- Put price
BBA 211 Unit 2: Share Valuation & Technical Analysis
Pages 20 to 34, 10 sections. Three dividend models, P/E and five other multiples; then Dow Theory, the A/D line, SEBI circuit filters, odd-lot theory, FPI and DII flows, support and resistance, four chart types, 11 patterns and moving averages. Counts: 7 solved numericals, 27 revision points, 19 key terms, formula sheet on page 33.
| Price | Volume | Signal |
|---|---|---|
| Rising | Rising | Strong uptrend, genuine buying |
| Rising | Falling | Weak rally, may reverse |
| Falling | Rising | Strong downtrend, heavy selling |
| Falling | Falling | Selling exhausted, fall may end |
Quick look: reading price with volume (from page 28)
- Price
- Rising
- Volume
- Rising
- Signal
- Strong uptrend, genuine buying
- Price
- Rising
- Volume
- Falling
- Signal
- Weak rally, may reverse
- Price
- Falling
- Volume
- Rising
- Signal
- Strong downtrend, heavy selling
- Price
- Falling
- Volume
- Falling
- Signal
- Selling exhausted, fall may end
BBA 211 Unit 3: Portfolio Analysis and Management
Pages 35 to 47, 8 sections. Correlation and diversification, Markowitz with two- and three-asset numericals, minimum-variance weights and the efficient frontier; Sharpe's market model, indifference curves for five investor types, five constraints, the allocation pyramid, SIPs and style investing. Counts: 5 solved numericals, 28 revision points, formula sheet on page 47.
| Stage | Typical age | Suggested mix |
|---|---|---|
| Accumulation | 25 to 40 | 70 to 80% equity, rest debt |
| Consolidation | 40 to 55 | 50 to 60% equity, 40 to 50% debt |
| Spending | 55 to 70 | 70 to 80% debt, 20 to 30% equity |
Quick look: investor life cycle and asset mix (from page 44)
- Stage
- Accumulation
- Typical age
- 25 to 40
- Suggested mix
- 70 to 80% equity, rest debt
- Stage
- Consolidation
- Typical age
- 40 to 55
- Suggested mix
- 50 to 60% equity, 40 to 50% debt
- Stage
- Spending
- Typical age
- 55 to 70
- Suggested mix
- 70 to 80% debt, 20 to 30% equity
BBA 211 Unit 4: Asset Pricing Models and Mutual Funds
Pages 48 to 58, 9 sections. CAPM: the CML, Tobin's separation theorem, nine assumptions, the SML and Roll's critique; APT with four Roll and Ross factors; mutual funds under SEBI's 1996 Regulations, NAV, three structure and nine objective types; then Sharpe, Treynor and Jensen. Counts: 5 solved numericals, 26 revision points, formula sheet on page 58.
| Measure | Fund A | Fund B | Market |
|---|---|---|---|
| Sharpe | 0.60 | 0.75 | 0.53 |
| Treynor | 10.00 | 11.25 | 8.00 |
| Jensen's alpha | 2.40% | 2.60% | 0 |
Quick look: two funds against the market, Rf 6% (from page 56)
- Measure
- Sharpe
- Fund A
- 0.60
- Fund B
- 0.75
- Market
- 0.53
- Measure
- Treynor
- Fund A
- 10.00
- Fund B
- 11.25
- Market
- 8.00
- Measure
- Jensen's alpha
- Fund A
- 2.40%
- Fund B
- 2.60%
- Market
- 0
Technical vs fundamental analysis in share investing: excerpt from page 25 of the BBA 211 notes
Excerpt from page 25 (Unit 2, section 4: Technical Analysis), rewritten for the web.
Meaning of technical analysis
Technical analysis studies past market data, mainly price and volume, usually through charts. Its aim is to forecast where a share price is heading and to time the buy or sell. A technical analyst, or chartist, does not read the company's financial statements. The belief is that every relevant fact is already in the price, and that prices move in trends and patterns that can be spotted.
Six basic assumptions
- Market value is set by the demand for and supply of securities.
- The market discounts everything: news, fundamentals and expectations are already in the price.
- Prices move in trends that last for a fair length of time.
- Trends change when demand and supply shift, and charts can show these shifts.
- History repeats itself, because fear and greed do not change, so chart patterns recur.
- Volume confirms a price trend, and many shifts show up first in trading volume.
| Basis | Fundamental analysis | Technical analysis |
|---|---|---|
| Objective | Find intrinsic value: what to buy | Find the timing: when to buy or sell |
| Data used | Economy, industry, financial statements, management | Price, volume, charts, market indicators |
| Approach | Cause-oriented: why prices move | Effect-oriented: how prices move |
| Time horizon | Long term | Short to medium term |
| Tools | Ratios, DDM, P/E, EIC analysis | Charts, patterns, moving averages, oscillators |
| Assumption | The market may misprice; price moves to intrinsic value | The market discounts everything; history repeats |
| Users | Long-term and value investors | Traders and speculators |
| Nature | Logical and analytical | Largely psychological, pattern-based |
Fundamental vs technical analysis (page 25)
- Basis
- Objective
- Fundamental analysis
- Find intrinsic value: what to buy
- Technical analysis
- Find the timing: when to buy or sell
- Basis
- Data used
- Fundamental analysis
- Economy, industry, financial statements, management
- Technical analysis
- Price, volume, charts, market indicators
- Basis
- Approach
- Fundamental analysis
- Cause-oriented: why prices move
- Technical analysis
- Effect-oriented: how prices move
- Basis
- Time horizon
- Fundamental analysis
- Long term
- Technical analysis
- Short to medium term
- Basis
- Tools
- Fundamental analysis
- Ratios, DDM, P/E, EIC analysis
- Technical analysis
- Charts, patterns, moving averages, oscillators
- Basis
- Assumption
- Fundamental analysis
- The market may misprice; price moves to intrinsic value
- Technical analysis
- The market discounts everything; history repeats
- Basis
- Users
- Fundamental analysis
- Long-term and value investors
- Technical analysis
- Traders and speculators
- Basis
- Nature
- Fundamental analysis
- Logical and analytical
- Technical analysis
- Largely psychological, pattern-based
The notes close the topic on page 26 with one line worth keeping: the two methods work together, since fundamental analysis picks the share and technical analysis picks the moment.
Do the BBA 211 notes cover the full GGSIPU syllabus?
Yes for every topic in Units I to IV. Only CO2's "role of financial research, brokerage advice" has no section of its own.
| Unit | Official topics | In the notes | Status |
|---|---|---|---|
| I | Return, SD, CV, beta, alpha; bond value, YTM, YTC, YTP and bond risks; EIC, economic indicators, Indian macro variables; life cycle, SWOT; company analysis | Unit I, sections 1 to 7, pages 4 to 17 | Covered |
| II | Three dividend discount models; P/E and other ratios; technical analysis; price, volume and institutional indicators; support, resistance; charts, patterns, moving averages | Unit II, sections 1 to 10, pages 21 to 31 | Covered |
| III | Portfolio risk and return; Markowitz for 2 and 3 assets, efficient frontier; market model; indifference curves; traditional management; asset allocation; passive and active strategies | Unit III, sections 1 to 8, pages 36 to 46 | Covered |
| IV | CAPM, assumptions, expected vs required return, mispricing; APT vs CAPM; mutual funds; Sharpe, Treynor and Jensen | Unit IV, sections 1 to 9, pages 49 to 57 | Covered |
| CO2 | Role of financial research and brokerage advice | Unit II, page 28, in passing | Partly covered: no dedicated section |
BBA 211 official units mapped to the notes
- Unit
- I
- Official topics
- Return, SD, CV, beta, alpha; bond value, YTM, YTC, YTP and bond risks; EIC, economic indicators, Indian macro variables; life cycle, SWOT; company analysis
- In the notes
- Unit I, sections 1 to 7, pages 4 to 17
- Status
- Covered
- Unit
- II
- Official topics
- Three dividend discount models; P/E and other ratios; technical analysis; price, volume and institutional indicators; support, resistance; charts, patterns, moving averages
- In the notes
- Unit II, sections 1 to 10, pages 21 to 31
- Status
- Covered
- Unit
- III
- Official topics
- Portfolio risk and return; Markowitz for 2 and 3 assets, efficient frontier; market model; indifference curves; traditional management; asset allocation; passive and active strategies
- In the notes
- Unit III, sections 1 to 8, pages 36 to 46
- Status
- Covered
- Unit
- IV
- Official topics
- CAPM, assumptions, expected vs required return, mispricing; APT vs CAPM; mutual funds; Sharpe, Treynor and Jensen
- In the notes
- Unit IV, sections 1 to 9, pages 49 to 57
- Status
- Covered
- Unit
- CO2
- Official topics
- Role of financial research and brokerage advice
- In the notes
- Unit II, page 28, in passing
- Status
- Partly covered: no dedicated section
Official source: BBA Scheme & Syllabus (NEP based), w.e.f. 2024-25.
The same unit-by-unit check sits behind every paper listed in GGSIPU notes.
How to write BBA 211 answers: step-by-step numericals, EIC diagrams and comparison tables
BBA 211 mixes calculation and theory; the notes give a format for each:
- Numericals in three moves: write the formula, show every step, end with a one-line meaning such as "Stock Y is less risky per unit of return" (page 19).
- Dividend models: put D1, not D0, in the numerator, check that ke is greater than g, and finish with a buy or sell call against the market price (page 34).
- Portfolio risk: keep returns and σ in percent throughout, never drop the "2 ×" in covariance terms, and compare σp with the weighted-average σ (page 47).
- Bond answers: compare the coupon with the required yield and say whether the bond sells at par, at a discount or at a premium; then give the buy or avoid call against its market price (page 9).
- Dow Theory and comparisons: origin, the three-trend table, bull and bear phases, tenets, limitations; for technical vs fundamental analysis, a 6 to 8 point table (page 31).
- Fund evaluation: work out the market's Sharpe, Treynor and Jensen values too, then rank the funds (page 57).
- Long theory answers: fundamental analysis runs meaning, objective, EIC flow diagram, points on each stage, then the buy or sell rule (page 17). Markowitz needs a labelled sketch with risk on the X-axis (page 46).
Worked example: two-asset portfolio (page 38)
Share A: return 12%, σ 10%. Share B: return 18%, σ 20%. Correlation 0.3; 60% in A, 40% in B. E(Rp) = 0.6 × 12 + 0.4 × 18 = 14.4%. Variance = 36 + 64 + 28.8 = 128.8, so σp = 11.35%. Close with the comparison: the weighted-average σ is 14%, so diversification removed 2.65 points of risk.
Try the same layout on GGSIPU BBA important questions once a unit is done.
BBA 211 exam corner: 28 solved numericals and 108 revision points by unit
| Unit | Solved numericals | Revision points |
|---|---|---|
| I. Risk, return, bonds, EIC | 11 | 27 |
| II. Share valuation, technical | 7 | 27 |
| III. Portfolio analysis | 5 | 28 |
| IV. CAPM, APT, mutual funds | 5 | 26 |
BBA 211 exam corner counts by unit
- Unit
- I. Risk, return, bonds, EIC
- Solved numericals
- 11
- Revision points
- 27
- Unit
- II. Share valuation, technical
- Solved numericals
- 7
- Revision points
- 27
- Unit
- III. Portfolio analysis
- Solved numericals
- 5
- Revision points
- 28
- Unit
- IV. CAPM, APT, mutual funds
- Solved numericals
- 5
- Revision points
- 26
The BBA 211 notes solve 28 numericals across 4 units, plus 108 quick-revision points and 4 formula sheets.
Exam-style questions:
- Unit I: A ₹1,000 bond with a 9% coupon and 5 years left trades at ₹960. Find its YTM. (90 + 8) ÷ 980 = 10.0%; current yield 9.38% (page 10).
- Unit II: D0 = ₹4, g = 8%, ke = 14%. Value the share by Gordon's model. D1 = 4.32; 4.32 ÷ 0.06 = ₹72 (page 22).
- Unit III: β = 1.2, σm = 15%, σi = 25%. Split total risk. Total 625, systematic 324 (51.8%), unsystematic 301 (page 40).
- Unit IV: Rf 6%, Rm 12%. Share P (β 0.8) is forecast at 13%, share Q (β 1.2) at 12%. Buy or sell? Required 10.8% and 13.2%: P alpha +2.2% (buy), Q −1.2% (sell) (page 52).
More practice is planned in the BBA 211 important questions.
Who writes and checks the BBA 211 Security Analysis notes?
- Prateek Talwar, author. Founder, Unnati Educations; Associate Company Secretary (ACS), ICSI, since 15 May 2019; B.Com, University of Delhi (School of Open Learning), 2012. Profile
- Sheetal Kirola, subject reviewer and Academic Head, Unnati Educations. She holds a BBA and a B.Ed, both from the University of Delhi (School of Open Learning), specialises in BBA and B.Ed subjects, and has 6 years of experience in BBA.
Mapped to the NEP-based BBA scheme from 2024-25. The 2026-27 edition uses: SEBI price bands and circuit breakers, SEBI's 2017 fund categories and size classes, and the ₹50 lakh PMS minimum. Updated 13 October 2026 under our editorial policy.
This team also builds GGSIPU important questions course by course.
BBA 211 and the GGSIPU BBA Sem 3 papers it connects to
BBA 211 has no paired lab; its official topics sit in the GGSIPU BBA syllabus.
The GGSIPU BBA Sem 3 Security Analysis and Portfolio Management notes link to:
- BBA 201 Business Environment and Law (Sem 3 core): economic environment and LPG reforms feed the EIC economy stage in Unit I (pages 14 to 15).
- BBA 104 Decision Techniques for Business (Sem 2): its standard deviation, correlation and regression drive Unit I beta (pages 5 to 7) and Unit III portfolio risk (pages 36 to 39).
- BBA 203 Production and Operations Management and BBA 205 Business Research Methodology: Sem 3 core papers, no direct overlap.
- BBA 207, 209, 213, 215: the other Sem 3 electives; one of them sits beside BBA 211 as your second specialisation.
- BBA 212 Income Tax Law and Practice (Sem 4 Finance elective): tax as a portfolio constraint, Unit III (page 42).
- BBA 217 NSS/NCC/Club Activities: NUES.
BBA 211 Security Analysis notes FAQs
How do I get the full BBA 211 notes?
Tap "Get Full Notes" to message us on WhatsApp at 9899436384. The full BBA 211 notes come only as a printed book of 59 pages covering all 4 units; they are not available as a PDF. The book reaches you within 5 to 7 days at most, depending on your location, and you can read the 6-page sample PDF before you order.
How many marks do I need to pass BBA 211?
BBA 211 is marked out of 100: 40 internal and 60 end-term. The internal 40 is a class test of 15 plus 25 for assignments, presentations, viva or class participation. The BBA scheme PDF does not print a pass percentage, so check end-term minimums and re-appear rules in GGSIPU Ordinance 11 on ipu.ac.in before the exam.
Is BBA 211 compulsory in GGSIPU BBA Semester 3?
No. BBA 211 is the Finance paper in the Semester 3 elective list. You take it as Major Elective-1 if Finance is your major, or as Minor Elective-1 if Finance is your minor. The scheme also says an elective runs only when at least 10% of students opt for it, so confirm with your institute first.
Which BBA 211 unit has the most numericals?
Unit I has the most: 11 solved numericals on holding period return, standard deviation, coefficient of variation, beta, alpha, bond value, YTM, YTC, YTP and a yield change. Unit II follows with 7, mostly dividend discount and P/E valuation. Units III and IV have 5 each, on portfolio risk, minimum-variance weights, CAPM, APT and fund evaluation.
Do the BBA 211 notes use Indian market examples?
Yes. Beta is measured against NIFTY 50 and SENSEX, the risk-free rate is the 91-day T-bill, and bond default risk uses CRISIL, ICRA and CARE grades. Unit II covers SEBI circuit filters and FPI flows, Unit III the ₹50 lakh PMS minimum, and Unit IV the SEBI and AMFI rules that govern Indian mutual funds.
Are these BBA 211 notes for the 2024-25 NEP batch?
Yes. They follow the NEP-based BBA scheme in force from academic session 2024-25, where BBA 211 is a 4-credit Semester 3 Finance elective with four titled units. If you joined under an older scheme or are a re-appear candidate, compare your own syllabus first, because codes and unit contents can differ between the two schemes.
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