RELIGARE SECURITIES LIMITED

EQUITY MARKET
in
RELIGARE SECURITIES LIMITED

2012-2014

EQUITY MARKET IN RELIGARE SECURITY LIMITED

A Project Report on

EQUITY MARKET
in

RELIGARE SECURITIES LIMITED

SUMMER TRAINING PROJECT REPORT SUBMITTED TOWARD PARTIAL FULFILLMENT OF MASTER OF BUSINESS ADMINISTRATION (IBM)

ACADEMIC SESSION 2012-2014

Submitted to:Mr. Sachin Srivastva

Submitted by:Chinki Singh

EQUITY MARKET IN RELIGARE SECURITY LIMITED

ACKNOWLEDGEMENT
Any person can never do work of this nature alone. This formal piece of acknowledgement may not be sufficient to express the feeling of gratitude and affection for those who were associated with the project and without whose co-operation and guidance this project could not have been conducted properly. It is a matter of great pleasure for me in submitting the project report on Religare Securities with Special Reference to Equity in the partial fulfillment of the requirement of my course from CHATRPATI SAHUJI MAHARAJ KANPUR UNIVERSITY. It is my profound privilege to thankfully acknowledge the inspiring cooperation extended to me by all the staff members for the successful completion of my project. My first word of thanks goes to Mr.Sachin Srivastva Branch Manager, Religare Securities, Kanpur for giving me an excellent chance to undergo training in a reputed and prestigious brokerage firm of India. I further, am in deep gratitude to Mr. Rameshchandra Srivastva Sales Manager for His kind support and guidance in marshalling my knowledge to the shaping of and the Becoming of the project & other staff members of Religare for their kindness and Valuable guidance and assistance, which helped me in the completion of my summer Training.

With Regards CHINKI SINGH

EQUITY MARKET IN RELIGARE SECURITY LIMITED

ACKNOWLEDGEMENT

I would like to express my Acknowledgement to those people, without whose contribution, Support and guidance this Report would not have seen the light of the day. Notable among them are Mr. Sachin Srivastva (Branch Manager Sai square) and Mr. Rameshchandra Srivastva (sales manager Sai square), who was my Project Guide and who helped me in a lot. I am also thankful to all other employees of Religare who guide me during my Project. I am also thankful and would like to express my Gratitude to the, MR.. And the entire Institute for giving me a Platform to have this wonderful opportunity and being able to get a glimpse of the Corporate World.

With Regards, CHINKI SINGH

EQUITY MARKET IN RELIGARE SECURITY LIMITED

PREFACE

As a Part of MBA PROGRAM, Student has to pursue a project duly approved by the Faculty of Concerned area. I had the privilege of undertaking the project on EQUITY in Religare Securities Limited. Main aim of the Project is to study how to work on equity trading.

My Project work is divided into following parts which are as under.

1. Abstract 2. Executive Summary 3. Introduction of industrial profile 4. Company profile 5. Conclusion 6. Appendices 7. Bibliography

EQUITY MARKET IN RELIGARE SECURITY LIMITED

ABSTRACT
Ever since we have attained independence we have been attaining some sort of nourishment in one field or another. Finance is the backbone of every country and India is no exception. Being the country it is have lot of pressure of population and that burden has to be born by the earning population of the country. Indian financial market has been progressing leaps and bounds in last decade or so. World see India as the emerging power of the planet and Indian finance has major role to play in letting the country in this great position. Share market is the breathing zone of Indian financial market. Every Indian company which has some significance with lot of people has been listed in the stock exchange and has been affecting country. Broking firms play a major role in the smooth functioning of the Stock Market because investors trade through these broking firms. So because of lots of opportunity in this sector with that is competition. More and more companies are entering into this sector, so to maintain and acquire the client base it requires good marketing strategies on the companies part. It must be kept in mind that major share of investors are price sensitive and they decide the investment options and the options to trade trough on the basis of cost effectiveness.

(Signature of major advisor)

(Signature of student)

EQUITY MARKET IN RELIGARE SECURITY LIMITED

EXECUTIVE SUMMARY
The Present business scenario is totally consumer oriented. Every company faces stiff competition from its competitors, each provides the best product at competitive rates. As a result customers have lot of choices to get the best with the least cost. To face this competition, it is very important to know customers behavior, their needs, preference and also the motivation factors. My Project was on Equity or Financial Products Dealing in the financial product with in the Kanpur to know the Motivational & demotivational factors of the client so as to cater the needs in most appropriate manner. It will help business to expand its network & also its services.

I had done my project under the guidance of My Guide Mr. Sachin Srivastva (Branch Manager) and Mr. Rameshchandra Srivastva (Sales Manager) whose guidance helps me in completing my Project Work Successfully.

Religare Securities Limited Provide its Expert service in Capital market Operations to institutional Investors. Company is a Member of National Stock Exchange as well as Bombay Stock Exchange. Religare is slowly but steadily gaining market share and goodwill in the Market. Its strategies for marketing its services as well as developing a good Relationship Marketing with its client has given an edge over the other service providers. Religare is on expansion path and is looking forward to be in the top. Religare is a very flexible organization and its gives equal opportunity to its young and energetic staff to work so as to bring this organization among the top.

This project also throws lights on the working frame of broking service. This industry is on the spree to adopt the latest technology and thus any player has to be dynamic in this industry. The comparative analysis done in this project show how Religare has built competitive edge on some ground. The Project help you understand the strategies of this industry right from De-Mat to Trading, Margin to analysis and risk to return. I hope this project prove to be beneficial for the Company and also give the reader a through idea about the industry. I learnt a lot throughout the process of undertaking this project report.

EQUITY MARKET IN RELIGARE SECURITY LIMITED To fulfill my task I had to visit the client personally who are dealing in share trading with this company or some other broking house.

After going through the exercise I found that RSL is one of the upcoming companies in the Marketing of financial Product, as the credibility of other companies are going down in the market and it is the right time for the RSL to built its reputation in the market. The Main reason for RSL low market share is because of local brokers in the market which a charging very less Margin as initial investment for Trading in Stock Market.

But No doubt it is having lots of scope to grow in the financial Market, and I wish it is having a shining future in the coming years.

EQUITY MARKET IN RELIGARE SECURITY LIMITED

CONTENTS

INDUSTRIAL PROFILE
1.1 EQUITY OR STOCK MARKET 1.2

Origin & exchange Indian stock market

1.3

1.4 INTRODUCTION OF SCREEN-BASED TRADING SYSTEM (SBTS) 1.5 REGULATORS OF SECURITIES MARKET

Introduction to Religare Enterprise Limited

2.1 Historical Background of the Group 2.2 Vision & Mission 2.3 Now What Does RELIGARE Mean? 2.4 Key Events and Milestones 2.5 Organization Structure 2.6 Central Leadership Team 2.7 Board of Directors - Religare Enterprises Limited 2.8 Addresses 2.9 Religare Global Presence 2.10 Following are the companies Under Religare Enterprise Limited

EQUITY MARKET IN RELIGARE SECURITY LIMITED

INDUSTRIAL PROFILE
1. EQUITY OR STOCK MARKET
Are markets in which shares are issued and traded either through exchanges or over-the-counter markets. Also known as the equity market, it is one of the most vital areas of a market economy as it provides companies with access to capital and investors with a slice of ownership in the company and the potential of gains based on the company's future performance.

Stock?
Plain and simple, stock is a share in the ownership of a company. Stock represents a claim on the Companys assets and earnings. As you acquire more stock, your ownership stake in the company becomes greater. Whether you say shares, equity, or stock, it all means the same thing. The importance of being shareholder is that you are entitled to a portion of the companys profits and have a claim on assets. Profits are sometimes paid out in the form of dividends. The more shares you own, the larger the portion of the profits you get. The securities market has two interdependent segments: the primary (new issues) market and the secondary market.

Primary market

is where new issues are first offered, with any subsequent trading going on in the secondary market. The primary market provides the channel for sale of new securities.

Secondary market refers to a market where securities are traded after being initially offered to the public
in the primary market and/or listed on the Stock Exchange. Majority of the trading is done in the secondary Market. Secondary market comprises of equity markets and the debt markets.

2. ORIGIN & EXCHANGES

EQUITY MARKET IN RELIGARE SECURITY LIMITED Share market in Indian started functioning in 1875. The name of the first share trading association in India was Native Share and Stock Broker's Association, which later came to be known as Bombay Stock Exchange (BSE). This association kicked off with 318 members. Indian Share Market mainly consists of two stock exchanges namely Bombay Stock Exchange (BSE) & National Stock Exchange (NSE)

Bombay Stock Exchange (BSE)

Bombay Stock Exchange is the oldest stock exchange not only in India but in entire Asia. Its history is Synonymous with that of the Indian Share Market history. BSE started functioning with the name, The Native Share and Stock Broker's Association in 1875. It got Government of India's recognition as a stock Exchange in 1956 under Securities Contracts (Regulation) Act, 1956. At the time of its origin it was an Association of Persons but now it has been transformed to a corporate and demutualised entity. BSE is Spread all over India and is present in 417 towns and cities. The total number of companies listed in BSE is around 3500.The main index of BSE is called BSE SENSEX or simply SENSEX. It is composed of 30 financially sound company stocks, which are liable to be reviewed and modified from time-to-time. Index calculation methodology SENSEX, first compiled in 1986 was calculated on a "Market CapitalizationWeighted" methodology of 30 component stocks representing a sample of large, well established and financially sound companies. The base year of SENSEX is 1978-79. From September 2003, the SENSEX is calculated on a free-float market capitalization methodology. The "free-float Market Capitalization-Weighted" methodology is a widely followed index construction methodology on which majority of global equity benchmarks are based.

Launch of Other BSE Indices

The launch of SENSEX in 1986 was later followed up in January 1989 by introduction of BSE National Index (Base: 1983-84 = 100). The BSE National Index was renamed as BSE-100 Index from October 14, 1996 and since then it is calculated taking into consideration only the prices of stocks listed at BSE. The Exchange launched dollar-linked version of BSE-100 index i.e. Dollex-100 on May 22, 2006. The Exchange constructed and launched on 27th May, 1994, two new index series viz., the 'BSE200'and the 'DOLLEX-200' indices.

EQUITY MARKET IN RELIGARE SECURITY LIMITED The launch of BSE-200 Index in 1994 was followed by the launch of BSE-500 Index and 5 sect oral indices in 1999. In 2001, BSE launched the BSE-PSU Index, DOLLEX-30 and the country's first freefloat based index the BSE Tack Index. The Exchange shifted all its indices to a free-float methodology (except BSE PSU index) in phased manner.

National Stock Exchange (NSE)

National Stock Exchange (NSE) founded although late than BSE, is currently the leading stock exchange in India in terms of total volume traded. It is also based in Mumbai but has its presence in over 1500 towns and cities. In terms of market capitalization, NSE is the second largest bourse in South Asia. National Stock Exchange got its recognition as a stock exchange in July 1993 under Securities Contracts (Regulation) Act, 1956. The products that can be traded in NSE are: Equity or Share Futures (both index and stock) Options (Call and Put) Wholesale Debt Market Retail Debt Market NSE's leading index is Nifty 50 or popularly Nifty and is composed of 50 diversified benchmark Indian company stocks. Nifty is constructed on the basis of weighted average market capitalization method.

GLOBAL EXCHANGES The New York Stock Exchange

The most prestigious exchange in the world is the New York Stock Exchange (NYSE). The "Big Board" was founded over 200 years ago in 1792 with the signing of the Buttonwood Agreement by 24 New York City stockbrokers and merchants. Currently the NYSE, with stocks like General Electric, McDonald's, Citigroup, Coca-Cola, Gillette and Wall-mart, is the market of choice for the largest companies in America.

American Stock Exchange

The third largest exchange in the U.S. is the American Stock Exchange (AMEX). The AMEX used to be an alternative to the NYSE, but that role has since been filled by the Nasdaq. In fact, the National Association of Securities Dealers (NASD), which is the parent of Nasdaq, bought the AMEX in 1998.

EQUITY MARKET IN RELIGARE SECURITY LIMITED

Nasdaq (History)
The NASDAQ (acronym of National Association of Securities Dealers Automated Quotations) is an American stock exchange. It is the largest electronic screen-based equity securities trading market in the United States. It was founded in 1971 by the National Association of Securities Dealers (NASD), who divested themselves of it in a series of sales in 2000 and 2001. It is owned and operated by the NASDAQ OMX Group. Its main index is the NASDAQ Composite, which has been published since its inception. However, its exchange-traded fund tracks the large-cap NASDAQ 100 index, which was introduced in 1985 Alongside the NASDAQ 100 Financial Index. NASDAQ lists approximately 3,200 securities, of which 335 are non-U.S. companies from 35 countries representing all industry sectors. To qualify for listing on the exchange, a company must be registered with the SEC, have at least three market makers (financial firms that act as brokers or dealers for specific securities), and meet minimum requirements for assets, capital, public shares, and shareholders. Nasdaq OMX now has a dual listing agreement with the Tel Aviv Stock Exchange. Nasdaq is traditionally home to many high-tech stocks, such as Microsoft, Intel, Dell and Cisco.

Dow Jones Industrial Average (DJIA)

"The Dow", the DJIA is the oldest and single most watched index in the world. The DJIA includes companies like General Electric, Disney, Exxon and Microsoft. Charles Dow invented the DJIA back in 1896. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq.

European Market Index - London Stock Exchange (LSE)

The primary stock exchange in the U.K. and the largest in Europe, originated in 1773, the regional exchanges were merged in 1973 to form the Stock Exchange of Great Britain and Ireland, later renamed the London Stock Exchange (LSE). The Financial Times Stock Exchange (FTSE) 100 Share Index, or "Footsie", is the dominant index, containing 100 of the top blue chips on the LSE.

Asian Market Indices

Tokyo Stock Exchange (TSE)
Tokyo Stock Exchange was established on May 15, 1878, and trading began on June 1st. Japan Stock Exchange: Nikkei Japan's Nikkei 225 Stock Average, the leading and most-respected index of Japanese stocks. It is a price weighted index comprised of Japan's top 225 blue-chip companies on the Tokyo Stock Exchange. The Nikkei is equivalent to the Dow Jones Industrial Average Index in the U.S. In fact, it was called the Nikkei Dow Jones Stock Average from 1975 to 1985.

EQUITY MARKET IN RELIGARE SECURITY LIMITED

Hong Kong Exchange: Hang Seng Index (HSI)

In Hang Seng index there is market capitalization-weighted index of 40 of the largest companies that trade on the Hong Kong Exchange. The Index is maintained by a subsidiary of Hang Seng Bank, and has been published since 1969. The index aims to capture the leadership of the Hong Kong exchange, and covers approximately 65% of its total market capitalization.

3. THE INDIAN STOCK MARKET

With over 25 million shareholders, India has the third largest investor base in the world after USA and Japan. Over 7500 companies are listed on the Indian stock exchanges (more than the number of companies listed in developed markets of Japan, UK, Germany, France, Australia, Switzerland, Canada and Hong Kong.). The Indian capital market is significant in terms of the degree of development, volume of trading, transparency and its tremendous growth potential. Indias market capitalization was the highest among the emerging markets. Total market capitalization of The Bombay Stock Exchange (BSE), which, as on July 31, 1997, was US$ 175 billion has grown by 37.5% percent every twelve months and was over US$ 834 billion as of January, 2007. Bombay Stock Exchanges (BSE), one of the oldest in the world, accounts for the largest number of listed companies transacting their shares on a nationwide online trading system. The two major exchanges namely the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) ranked no. 3 & 5 in the world, calculated by the number of daily transactions done on the exchanges.

FII inflows in India

Net FIIs inflow in India increased steadily through the last decade of the 1990s. The year 2003 was a watershed year for FIIs investments in Indian stock market which reached an annual peak of US$ 10 billion in 2004-2005. This buoyancy continued during 2005-06 and the cumulative FII inflow in 9 months period ending December, 2006 had reached around US$ 10 billion. The cumulative FII inflow till 6th March, 2007 had reached around $ 51.47 billion from $4 million in 1992, reflecting the strong economic fundamentals of the country, as well as confidence of the foreign investors in the growth and stability of the Indian market.

EQUITY MARKET IN RELIGARE SECURITY LIMITED International Corporations which have invested in India include GE, DuPont, Eli Lily, Monsato, Caterpillar, GM, Hewlett Packard, Motorola, Bell Labs, Daimler Chrysler, Intel, Texas Instruments, Cummins, Microsoft, IBM, Honda, Toyota, Mitsubishi, Samsung, LG, Novartis, Bayer, Nestle, Coca Cola and McDonalds To name a few. They have pumped in over US$ 23 billion in the past three years which strengthens Indias position in emerging as a major investment destination for the world investors. Many Japanese and European investors have also started eyeing India, aiming to cash in on the rising equity markets. Registrations from non-traditional countries like Denmark, Italy, Belgium, Canada, Sweden and Ireland are on the rise. Bill Gates, chairman of Microsoft Corporation, the worlds largest software company, said that the company will invest US$1.7 billion in India over the next four years to expand its operations.

4. INTRODUCTION OF SCREEN-BASED TRADING SYSTEM (SBTS)

Before the NSE was set up, trading on the stock exchanges in India used to take place through open outcry without use of information technology for immediate matching or recording of trades. This was time Consuming and inefficient. The practice of physical trading imposed limits on trading volumes as well as, the speed with which new information was incorporated into prices. To obviate this, the NSE introduced screenbased trading system (SBTS) where a member can punch into the computer the quantities of shares and the prices at which he wants to transact. The transaction is executed as soon as the quote punched by a trading member finds a matching sale or buys quote from counterparty. SBTS electronically matches the buyer and seller in an order-driven system or finds the customer the best price available in a quote-driven system, and hence cuts down on time, cost and risk of error as well as on the chances of fraud. SBTS enables distant participants to trade with each other, improving the liquidity of the markets. The high speed with which trades are executed and the large number of participants who can trade simultaneously allows faster incorporation of price-sensitive information into prevailing prices. This increases the informational efficiency of markets. With SBTS, it becomes possible for market participants to see the full market, which helps to make the market more transparent, leading to increased investor confidence. The NSE started nationwide SBTS, which have provided a completely transparent trading mechanism. Regional exchanges lost a lot of business to NSE, forcing them to introduce SBTS.

Online Trading Mechanism:

Bombay Stock Exchange's trading system is popularly known as BOLT (BSE's Online Trading System). The BSE has deployed an Online Trading system (BOLT) on March 14, 1995. BOLT has a two-tier architecture. The trader workstations are connected directly to the backend server, which acts as a communication server and a Central Trading Engine (CTE). Other services like information dissemination, index computation, and position monitoring are also provided by the system. Access to market related information through the trader workstations is essential for the market participants to act on real-time basis and take immediate decisions. BOLT has been interfaced with various information vendors like Bloomberg, Bridge, and Reuters. Market information is fed to news agencies in real time. It makes the trade efficient, transparent and time saving.

EQUITY MARKET IN RELIGARE SECURITY LIMITED NSE provides its customers with a fully automated screen based trading system known as NEAT system, in which a member can punch into the computer quantities of securities and the prices at which he likes to transact and the transaction is executed as soon as it finds a matching sale or buy order from a counter party. It electronically matches orders on a price/time priority and hence cuts down on time, cost and risk of error, as well as on fraud, resulting in improved operational efficiency. It allows faster incorporation of price sensitive information into prevailing prices, thus increasing the informational efficiency of markets. The stocks are hold in a demutualised format helping in fast, transparent and efficient preservation and transactions.

5. REGULATORS OF SECURITIES MARKET

The responsibility for regulating the securities market is shared by Department of Economic Affairs (DEA), Department of Company Affairs (DCA), Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI).

Securities and Exchange Board of India (SEBI)

SEBI or Securities and Exchange Board of India is entitled to protect the investors' interests, regulate and
develop securities market in India. The Securities and Exchange Board of India (SEBI) is the regulatory authority in India established under Section 3 of SEBI Act, 1992. SEBI Act, 1992 provides for establishment of Securities and Exchange Board of India (SEBI) with statutory powers for (a) protecting the interests of investors insecurities (b) promoting the development of the securities market and (c) regulating the securities market. Its regulatory jurisdiction extends over corporate in the issuance of capital and transfer of securities, in addition to all intermediaries and persons associated with securities market. It passes laws for streamlining the Indian share market for efficient outcomes.

Role of SEBI
SEBI has been obligated to perform the aforesaid functions by such measures as it thinks fit. In particular, it has powers for: Regulating the business in stock exchanges and any other securities markets Registering and regulating the working of stock brokers, subbrokers etc. Promoting and regulating self-regulatory organizations Prohibiting fraudulent and unfair trade practices

EQUITY MARKET IN RELIGARE SECURITY LIMITED Calling for information from, undertaking inspection, conducting inquiries and audits of the stock exchanges, intermediaries, self regulatory organizations, mutual funds and other persons associated with the securities market

Depository System
The erstwhile settlement system on Indian stock exchanges was also inefficient and increased risk, due to the time that elapsed before trades were settled. The transfer was by physical movement of papers. There had to be a physical delivery of securities -a process fraught with delays and resultant risks. The second aspect of the settlement relates to transfer of shares in favor of the purchaser by the company. The system of transfer of ownership was grossly inefficient as every transfer involves physical movement of paper securities to the issuer for registration, with the change of ownership being evidenced by an endorsement on the security certificate. In many cases the process of transfer would take much longer than the two months stipulated in the Companies Act, and a significant proportion of transactions would end up as bad delivery due to faulty compliance of paper work. Theft, forgery, mutilation of certificates and other irregularities were rampant. In addition, the issuer has the right to refuse the transfer of a security. All this added to costs and delays in settlement, restricted liquidity and made investor grievance redressed time consuming and, at times, intractable. To obviate these problems, the Depositories Act, 1996 was passed. It provides for the establishment of depositories in securities with the objective of ensuring free transferability of securities with speed, accuracy and security. It does so by (a) making securities of public limited companies freely transferable, subject to certain exceptions; (b) dematerializing the securities in the depository mode; and (c) providing for maintenance of ownership records in a book entry form. In order to streamline both the stages of settlement process, the Act envisages transfer ownership of securities electronically by book entry without making the securities move from person to person. The Act has made the securities of all public limited companies freely transferable, restricting the company's right to use discretion in effecting the transfer of securities, and the transfer deed and other procedural requirements under the Companies Act have been dispensed with. Two depositories, viz., NSDL and CDSL, have come up to provide instantaneous electronic transfer of securities. In any stock exchange, trades or transactions have to be settled by either squaring up the carrying forward positions or settling by payment of net cash or net delivery of securities. This account settlement period, if it is long leads to several price distortions and allows for market manipulation. It increases the chances of speculation resulting in volatility, which hurts the small investors. With the application of IT in the securities market - screen-based trading and trading through the Internet - it has been possible to reduce this settlement period.

EQUITY MARKET IN RELIGARE SECURITY LIMITED

Dematerialization
Dematerialization or "Demat" is a process whereby your securities like shares, debentures etc, are Converted into electronic data and stored in computers by a Depository. It is safe, secure and convenient buying, selling and transacting stocks without suffering endless paperwork and delays. You can convert your securities to electronic format with a Demat Account. There are many advantages of holding a demat account. A few important ones' are as below. Shorter settlements thereby enhancing liquidity No stamp duty on transfer of securities held in demats form. No concept of Market Lots. Change of name, address, dividend mandate, registration of power of attorney, transmission etc. can be effected across companies held in demat form by a single instruction to the DP. A few features of a Demat account are: Dematerialisation of Securities Settlement of Securities traded on the exchange as well as off market transactions Pledging and Hypothecation of Dematerialised Securities Electronic credit in public issue Receipt of non-cash benefits in electronic form

EQUITY MARKET IN RELIGARE SECURITY LIMITED

INTRODUCTION OF RELEGARE
RELIGARE ENTERPRISE LIMITED
Religare Enterprises Limited (REL) is a global financial services group promoted by the RANBAXY group, with a presence across Asia, Africa, Middle East, Europe and the Americas. In India, RELs largest market, the group offers a wide array of products and services ranging from insurance, asset management, broking and lending solutions to investment banking and wealth management. The group has also pioneered the concept of investments in alternative asset classes such as arts and films .With 10,000 plus employees across multiple geographies, REL serves over a million clients, including corporate and institutions, high net worth families and individuals, and retail investors. Historical Background Of The Group The Company was originally incorporated as Vajreshwari Cosmetics Private Limited on January30, 1984. The name of Company was subsequently changed to Religare Enterprises Private Limited pursuant to a special resolution of the shareholders dated January 10, 2006. The fresh certificate of incorporation consequent to the change of name was granted to the Company on January 31, 2006, by the Registrar of Companies, Punjab, and Himachal Pradesh & Chandigarh at Jalandhar. The status of the Company was changed to a public limited company by a special resolution of the members dated July 14, 2006. The fresh certificate of incorporation consequent to the change of name was granted to the Company on August 11, 2006, by the Registrar of Companies, NCT at New Delhi. At the time of incorporation, the main object of the Company was to purchase, sell, import, export, manufacture, pack, replace or otherwise deal in all types of tooth paste, tooth brush, face powder, face cream and other cosmetics. 14 has a pan India presence, 1837* locations across 498* cities and towns. It also currently operates from nine international locations following its acquisition of Londons brokerage &investment firm, Hichens, Harrison & Co. plc. (Now Religare Hichens, Harrison Plc).

EQUITY MARKET IN RELIGARE SECURITY LIMITED

Vision & Mission

Vision - To build Religare as a globally trusted brand in the financial services domain. Mission - Providing complete financial care driven by the core values of diligence and transparency. Brand Essence - Core brand essence is Diligence and Religare is driven by ethical and dynamic processes
for wealth creation.

Now, What Does RELIGARE Mean? Name: Religare is a Latin word that translates as to bind together. This name has been chosen to reflect the integrated nature of the financial services the company offers.

Symbol: The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is considered good fortune to find a four-leaf clover as there is only one four-leaf clover for every 10,000three-leaf clovers found. For Religare, each leaf of the clover has a special meaning. It is a symbol of Hope, Trust, Care, Good Fortune.

EQUITY MARKET IN RELIGARE SECURITY LIMITED

CLOVER OF SUCCESS
Religare believe that a four leaf clover is harbinger of good fortune and a clover of success. At Religare Broking, the four leaves of the clover symbolize pedigree, product strength, expertise and support that we offer to our partners. Armed with this clover of success, we create a partnership based on values and trust.

PEDIGREE
Associating with an award winning and one of Indias leading broking houses will not only lend credibility but also provide innumerable and exciting business opportunities. Established brand name serving more than 9 lakh clients across more than branches Industry wide recognition Best Broking House with a global presence by D&B Best commodity Broker of the year by Bloomberg UTV in year 2012

Product
As a Religare Broking Company partner, you get access to a wide variety of products to offer to your clients through both offline and online platforms Equity- Cash and F&O (NSE& BSE);Commodity- MCX & NCDEX,NSEL spot Currency Derivatives-MCX_SX & NSE-CD; Gold Mutual Funds- MFSS platform for online buying and redemption; Tax Information NetworkFacilitations Center Depository Services NSDL and CDSL; Initial Public Offering- Subscribe through online platform

EXPERTISE
Highly qualified and experienced professionals provide powerful research and analytics to help your clients make informed decisions

EQUITY MARKET IN RELIGARE SECURITY LIMITED Strong Retail research & analytical reports-Daily Newsletters , weekly Recommendations, Stock Picks of the day Sector wise Fundamental reports for investors Intraday technical calls for traders; Technical analysis reports Weekly call with Research team to discuss Market Outlook & key global events

SUPPORTS
Relationship management

Nearest Religare branch for local level business development support including preparing business plans and conducting clients meets Dedicated Partner Support desk offering single point service

Marketing and Training support

Customized collaterals & branding support Personal on-boarding training at Bps location covering processes, business applications & systems Regular trainings for BP staff in sales/ dealing, new products etc.

Back office & depository services

Access to online modules to help you manage business 7 service clients Track client account cases Regular reports including Margin reports, client ledgers etc. Depository module

Centralized online Risk Management Cell (RMC) and regional RMC desks for complete Support

Business partner portal

EQUITY MARKET IN RELIGARE SECURITY LIMITED Convenient and easy way to run your business and seamlessly manage your clients on a day to day basis. Single sign-in platform to most of the frequently used systems and applications. Complete platform for hassle free online support.

Key elements & Milestones Years events: 1994 RSL received membership of the NSE as stock broker. 2000 RSL received membership of Future & Option Segment of the NSE. 2001 RFL received registration as Portfolio Manager for SEBI. 2004 RSL received membership of the BSE as stock broker. 2009 Religare, a diversified financial services company, and Andhra Bank, a well known Public Sector Bank in the country, have entered into a strategic tie-up offering Religares internet trading services platform to the Banks customers. Religare and Swiss Re join hands to enter India health insurance space. -Religare and Swiss Re join hands to enter India health insurance space. 17 2008 Religare to acquire UK brokerage Hichens -Religare strengthens its Bancinvest Channel Adds Karur Vysya Bank to its kitty. -Religare AEGON Asset Management Company Private Limited, a joint venture between Religare and AEGON, has received the final regulatory approval from the Securities and Exchange Board of India (SEBI) to launch mutual fund business in the country. -Religare Enterprises gets SEBI nod for LOTUS acquisition. 2007 RSL received membership of derivative segment of the BSE as trading-cum- clearing member.

RELIGARE SECURITIES LIMITED

Religare Group of Companies: Religare Enterprises Limited group comprises of Religare Securities Limited, Religare Comdex Limited, Religare Finvest Limited and Religare Insurance Advisory Limited which deal in equity, commodity and financial services business. RSL is one of the leading broking houses of India and are dealing into Equity

EQUITY MARKET IN RELIGARE SECURITY LIMITED Broking, Depository Services, Portfolio Management Services, Institutional Equity Brokerage & Research, Investment Banking and Corporate Finance Extension of services has been a constant feature in Religare to regard the needs of our clients. Consequently, company is soon going to launch Internet Trading and Merchant Banking. This would take care of different investment needs of different classes of investors. To facilitate free and fare trading process Religare is a member of major financial institutions like, National Stock Exchange of India, Bombay Stock Exchange of India, Depository Participant with National Securities Depository Limited and Central Depository Services (I) Limited, and a SEBI approved Portfolio Manager RSL serves a platform to all segments of investors to avail the opportunities offered by investing in Indian equities either on their own or through managed funds in Portfolio Management.

Religare Securities Limited

(RSL), a 100% subsidiary of Religare Enterprises Limited is a leading equity and securities firm in India. The company currently handles sizeable volume stranded on NSE and in the realm of online trading and investments; it currently holds a reasonable share of the market. The major activities and offerings of the company today are Equity Broking, Depository Participant Services and Research Services. To broaden the gamut of services offered to its investors, the company offers an online investment portal armed with a host of revolutionary features. RSL is a member of the National Stock Exchange of India, Bombay Stock Exchange of India, Depository Participant with National Securities Depository Limited and Central Depository Services (I) Limited. Religare has been constantly innovating in terms of product and services and to offer such incisive services to specific user segments it has also started the NRI, FII, HNI and Corporate Servicing groups. These groups take all the portfolio investment decisions depending upon a clients risk / return parameter. Religare has a very credible Research and Analysis division, which not only caters to the need of our Institutional clientele, but also gives their valuable inputs to investment dealers .Religare Securities Limited, a Ranbaxy Promoter Group Company, was founded by late Dr.Parvinder Singh (CMD Ranbaxy Laboratories Limited), with the vision of providing integrated financial care driven by the relationship of trust & confidence. To realize its vision the Religare group provides various financial services which include broking (stocks & commodities), depository participant services, portfolio management services, advisory on mutual fund investments and many more. Working on the philosophy of being Financial Care Partner, Religare unlike other traditional broking firms not only executes the trades for the clients but also provides them critical and timely investment advice. The growing list of financial institutions with which Religare is empanelled as an approved broker is a reflection of the high levels of service standard maintained by the company. Religare is a truly professional financial service provider managed by a team of highly skilled professionals who have proven track record in their respective domains. Religare has the wide stretch through

EQUITY MARKET IN RELIGARE SECURITY LIMITED its Regional, Zonal and Branch Offices spread across the length & breadth of the country. Now a days Religare is driven by ethical and dynamic process for wealth creation. Based on this, the company started its Endeavour in the financial market. Religare Enterprises Limited (A Ranbaxy Promoter Group Company) through Religare Securities Limited, Religare Fin vest Limited, Religare Commodities Limited and Religare Insurance Advisory Services Limited provides integrated financial solutions to its corporate, retail and wealth engagement clients. Today, we provide various financial services which include Investment Banking, Corporate Finance, Portfolio Management Services, Equity & Commodity Broking, Insurance and Mutual Funds. Plus, theres a lot more to come your way. Religare is proud of being a truly professional financial service provider managed by a highly skilled team, who have proven track record in their respective domains. Religare operations are managed by more than 1500 highly skilled professionals who subscribe to Religare philosophy and are spread across its country wide branches. Today, Religare have a growing network of 150 branches and more than 300 business partners spread across 180 cities in India and a fully operational international office at London. However, our target is to have 350 branches and 1000 business partners in 300 cities of India and more than 7 International offices by the end of 2006. Unlike a traditional broking firm, Religare group works on the philosophy of partnering for wealth creation. We not only execute trades for our clients but also provide them critical and timely investment advice. The growing list of financial institutions with which Religare is empanelled as an approved broker is a reflection of the high level service standard maintained by the company. Religare Today An ISO 9001:2000 Company 25Member of National Stock Exchange (NSE) since November 1994, first deposit based member

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COMPANY PROFILE
Religare Securities Ltd. is a wholly owned subsidiary of Fortis Financial Services Ltd. A company promoted by the late Dr. Parvinder Singh, Ex- CMD of Ranbaxy Laboratories Ltd. The Primary focus of RSL is to cater services in capital Market operations to Institutional Investors. The company is a member of the National Stock Exchange (NSE).

BUSINESS & OPERATION

BUSINESS
Over a period of time RSL has recorded a healthy growing rate both in business volume and profitability as it only the major players in this line of business. The business thrust has mainly in the development of business from Financial Institutions, Mutual Funds and Corporate.

OPERATIONS
The operations of the company are broadly organized among the following functions.

Research & Analysis

This group is focused on doing stock picks and periodical scrip/ Segment specific research. They provide the best of analysis in the industry and are valued by both our institutional and Retail Clients.

EQUITY MARKET IN RELIGARE SECURITY LIMITED

Marketing
This group is focused on tracking potential business opportunity and converting them into business relationships. Evaluation the need of the clients and tailoring products to the meet there specific requirements help the company to build lasting relationship.

Dealing
Enabling the clients to procure the best rates on their transactions is the core function of this group.

Back office
This group ensures timely delivery of securities traded, operation matters with stock exchange, statutory compliance, handling tasks like pay-in, pay-out, etc. This section is fully automated to enable the staff to focus on the technicalities of securities trading and is manned by professionals having long experience in the field.

INFRASTRUCTURE Offices
The company has offices located at prime location in Mumbai, New Delhi, Kolkata and Chennai. The offices are centrally located to cater to the requirements of institutional and corporate clients and retail clients, and for ease of operation due to proximity to stock exchange and banks. Today we have more than 170 branches all over India.

Communications

EQUITY MARKET IN RELIGARE SECURITY LIMITED The company has its disposal, an efficient network of advance communication system and intends to install CRM facilities; besides this it is implementing interactive client information dissemination system which enables clients to view their latest client information on web. It has an installed multiple WAN to interconnect the branches to communicate on real time basis. The company is equipped with most advanced system to facilitate smooth functioning of operations. It has installed its major application on IBM machine and uses latest state of art financial software.

MANAGEMENT
Mr. Sunil Godhwani is Chief Executive Officer and Managing Director of Religare Securities Limited. He is also the CEO and MD of the parent company Fortis Financial Service Limited and is managing the entire operations of both the companies. CEO is supported by various HODs who are creditable professional consisting of Chartered Accountants, MBAs with varied experience in financial services and stock broking functions. The Board of Directors consists of Mr. Harpal Singh as Chairman and Mr. V.K. Kaul, Mr. Malvinder Mohan Singh, Mr. Shivinder Mohan Singh as Directors.

DEPOSITORY PARTICIPANT SERVICES

Religare Securities Limited has also ventured into depositary services to its clients and is among leading depository services provider having more than 3000 Crore worth of securities under its custody.

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COMPETITIVE EDGE IN MARKET 1. Participant on the countrys premium exchange:

Religare is a member of the countrys premium stock exchange- The National Stock Exchange of India (NSE) as well as Bombay Stock Exchange (BSE) Clearing membership on Capital & Derivative Segments: It has clearing membership on both the Capital Market and Derivative segments of the exchange. We are also authorized to trade the retail debt market. Depositary Participant with NSDL & CDSL: We are depositary participants with the country premium depositary service- National Securities Depository limited (NSDL) as well as with the only depository with a country wide reach Central Depositary Service Limited (CDSL)

Leading Private sector bank as partner: Our banking partner is HDFC Bank, ICICI Bank &
UTI Bank The foremost private sector bank in the country, which has the most technologically advanced infrastructure in the country, with internet banking allowing access to information 24x7. Prime office location: We have prime office location in the nations political capital and the business capital Delhi & Mumbai. Research Capabilities: We have a dedicated team of analysts in our Bombay office They provide fundamental analysis of stock and markets, which are fundamentally strong and are helpful for retail investors.

EQUITY MARKET IN RELIGARE SECURITY LIMITED Technical Analysis: A daily technical newsletter is published by our in house technical analyst, who is a recognized leading practitioner in capital market. He tracks the progress of the calls on the real- time basis, and advises of any change in the profit points of stop loss levels. Thus with this in house services that is provided by Religare Securities Ltd. To its Clients has given a competitive edge & more over it has given trust and confidence to its retail investors to as to build a long term relationship with its clients.

ORGANISATION STRUCTURE
Our organization is led by individual who are professional and leaders in every sense of the world. Experts in their respective domain, esteem members of our Board of Directors are:

Name Mr. Harpal Singh Mr. Vinay Kumar Kaul Mr. Malvinder Mohan Singh Mr. Shivinder Mohan Singh Mr. Sunil Godhwani

Designation Chairman Director Director Director M.D

EQUITY MARKET IN RELIGARE SECURITY LIMITED

STRUCTURE OF THE ORGANIZATION The company owes its success to its strong management team, most of which has been there since its inception. Organization Structure:
National Sales and Marketing Head

Vice President-Investment

Vice President-Sales

Assistant Vice President-Investment

Assistant Vice President-Sales

Zonal manager investment

Regional Sales Head

Senior Investment manager

Branch Manager

Manager Investment

Team Leader

EQUITY MARKET IN RELIGARE SECURITY LIMITED Relationship Manager

Associate Relationship Manager

Asst. Relationship Managers

Relationship Executive.

PRODUCTS OF RELIGARE SECURITIES LIMITED

Equity Derivatives Commodity trading Currency market Mutual funds Initial public offer Health insurance

Equities
Investments in stocks often serve as a very foundation in portfolios for many types of investors. As a member of NSE, BSE, MCXSX, USE and a depository participant with NSDL and CDSL, Religare Securities Limited (RSL) has helped both nave and experienced investors to chart their way even in tumultuous times. Though equities are considered more rewarding when compared to other investment options, at RSL we provide highly efficient and sophisticated trading solutions to effectively manage your equity investments in an increasingly complex and dynamic Equity share market scenario. Indian markets, though in the nascent stage offer one of the most exciting and rewarding investment opportunities among the emerging market economies. Hence, as financial awareness deepens and more sophisticated instruments enter the Indian markets, investors need to tread the path cautiously. At RSL we empower our clients through best-in-town research and analysis at the right time so that they see trends as and when they emerge. With a presence in more than 1500 locations across India, RSL has successfully enhanced trading flexibilities of its partners, imparting an enriched trading experience through our unique suite of execution trading platforms (both offline and online) and state-of-the-art tools and features in both intraday and delivery segments of the

EQUITY MARKET IN RELIGARE SECURITY LIMITED market. Religare Securities Ltd. (RSL), a wholly owned subsidiary of Religare Enterprises Limited (REL), a global financial services group is a market leading securities firm in India. The company offers equity broking services to more than half a million clients using both, offline and online platforms and also offers depository participant services. Trading in Equities with Religare truly empowers you for your investment needs. We ensure you have a superlative trading experience through our -

Benefits of Online Equities Trading

Highly process driven and diligent approach Powerful research and analytics One of the best-in-class dealing rooms
Further, Religare also has one of the largest retail networks. You can now walk into any of our branches and connect to our highly skilled and dedicated relationship managers to get the best services.

Commodities Trading
Religare Commodities Limited (RCL), a wholly owned subsidiary of Religare Securities Ltd (RSL), was initiated to spearhead exchange-based Commodity Trading. As a member of MCX, NCDEX, NMCE, ICEX and ACE in addition to both the Spot Exchanges, RCL is a trade facilitator providing the platform to trade in commodities. Trading in Commodities with Religare truly empowers you for your investment needs. We ensure you have a superlative trading experience through Access to daily incisive, fundamental and technical research and analytics from our efficient in house research Personalized services through a team of dedicated Relationship Managers and Dealers

EQUITY MARKET IN RELIGARE SECURITY LIMITED Browser and application based platforms available for commodity trading

Our dedicated team of experts and highly skilled professionals provide valuable assistance in exchange-based commodity trading. Whether a first-timer, an experienced trader, a hedger or a corporate client, we offer each client a customized trading experience. Our nationwide presence in Mandi (agricultural market hubs) locations brings commodity trading right to the doorstep of the actual producers (farmers) and enables them to hedge risks better. These Mandi branches also act as listening posts that feed information on arrivals, demand, weather, production and other aspects which impact the physical markets and help our research teams deliver better quality research on commodities.

Currency Market
The Currency market is the largest and most liquid financial market in the world. It is the arena in which a nations currency is exchanged for that of another at a mutually agreed rate. It was created in the 1970''s when international trade transitioned from fixed to floating exchange rates. Traditionally, the currency market has been the preserve of banks and larger financial institutions. However with advances in technology, and the global nature of the market, it is now possible for traders of all levels of experience to take part in online currency trading. It offers traders huge opportunities to benefit from fluctuations in the currency markets and eliminate underline foreign currency fluctuation risk arising gue to resion such as commodity trading, international trading, frequent overseas travelling, close correlations with equity indexes and international investments .As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding currency intervention by central banks. According to the Bank for International Settlements as of April 2010, average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, a growth of approximately 20% over the $3.21 trillion daily volume as of April 2007. Some firms specializing on foreign exchange market had put the average daily turnover in excessofUS$4trillion. Currency trading volume in India have now reached to 1 trillion* INR on a daily basis

Participants:

Corporate / SME Authorized Dealers / Category I Banks Central Bank - RBI

EQUITY MARKET IN RELIGARE SECURITY LIMITED

Individual Retail Traders Money Changers Flows Driving Currencies:

Trade and Capital Flows Imports by Oil Marketing Companies Remittance by NRIs Investment by Offshore Institutions in India & Indian Investments Offshore

FDI & FII Flows

EQUITY MARKET IN RELIGARE SECURITY LIMITED

What are Currency Derivatives?

FUTURES:

An agreement between two parties to buy or sell a standard quantity of currency at a certain time in future at predetermined price on the floor of an organized futures exchange.

Future Contracts are special types of forward/OTC contracts. This means that futures are standardized exchange traded contracts.

OPTIONS:

An option is a contract between a buyer and a seller that gives the buyer the option the right, but not the obligation to buy or sell a specified asset (underlying) on or before the Options expiration time, at an agreed price (the strike price).

DERIVATIVES
The Derivative segment is a highly lucrative market that gives investors an opportunity to earn superlative profits (or losses) by paying a nominal amount of margin. Over past few years, Future & Options segment has emerged as a popular medium for trading in financial markets. Future contracts are available on Equities, Indices, Currencies and Commodities. Since derivatives instrument provide good leverage opportunity, it is a great tool for speculation. Leverage is a double edge sword for which one requires an equity advisor. Our advisors will also help you with various strategies like Bull Spread, Bear Spread, Cover call writing, hedging strategies etc. This is to help you to make better trading returns. The Equity advisor goes a step further to ensure that your trades are settled and traded with proper margin in your account in a timely manner. This allows us to give you a convenient single window service and your advisor becomes the single point contact for all your equity related matters.

Initial Public Offering (IPO)

An Initial Public Offering (IPO) is the selling of securities to the public in the primary market. It is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuers securities. The sale of securities can be either through book building or through normal public issue.

EQUITY MARKET IN RELIGARE SECURITY LIMITED

Depository Services
Religare Securities Limited provides depository services to investors. The Depository system in India links Issuers, Depository Participants and Depositories i.e. (NSDL) and (CDSL) and Clearing Houses/Clearing Corporation of Stock Exchanges. These facilitate the holding of securities in a dematerialized form and processing of securities transactions by means of account transfers. Our customer-centric account schemes have been designed keeping in mind the investment psychology of consumers. With a competent team of skilled professionals, we manage over 7,00,000 accounts and have a dedicated customer care centre exclusively trained to handle customer queries. With our country wide network of branches, you are never too far from Religares depository services. Our depository services offer you a secure, convenient, paperless and cost effective way to keep track of your investments in shares and other instruments over a period of time, without the hassle of handling physical documents. Your DP account with us takes care of your depository needs such as dematerialization, conversion of mutual fund units, mutual fund redemption, re-materialization, transfer and pledging of shares, stock lending and borrowing. Your Demat account is safe and absolutely secure in our hands, every debit instruction is executed only after its authenticity is established. Our hi-tech in-house capabilities cater to the needs of database administration, software and network maintenance, backups and disaster recovery. This extra cover of security has helped us gain the trust of our clients.

EQUITY MARKET IN RELIGARE SECURITY LIMITED

CONCLUSION
In spite of the bleak and grim outlook the future of capital market is growing at a very high pace. Taking these things into consideration there are lots of opportunity for the Broker House which already exist and which are due to enter in the Indian market. These are little awareness about Equity and Mutual funds in India people have accepted it as one of the major investment avenue. As people have entered in this particular investment avenue they have lost their money because of movement in the market, which is below the par value and this, has shaken the faith of investor in this particular avenue. Another reason for low investment in this sector is that most of the companies are not performing well and also due to the scams that are taking place frequently Once people know about the benefit offered by it, Capital market will become one of the sought after investment avenue. The only thing which is needed to focus on is that they should have a strong marketing strategy so that prompt service and availability of forms is made available to the investors at a short notice provided that it keeps into mind the traditional base for marketing in India, which is a price sensitive. We can say that Religare has a great future ahead. Religare has emerged a very strong player in the field of distribution of financial product within a short period of one year in Northern India and is giving stiff competition to the entire player in the Delhi & other parts. If the progress of Religare goes in the same way then I can say that Religare will be going to emerge as a major player in the Capital market. They have much more potential to expand their business and market in India.

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BIBLIOGRAPHY
Books Capital Market module (NCFM) 71 Capital Market by Sanjay Aggarwal http://www.indianjournals.com/ij/importance of Crm or.aspx? target=ijor:glogift2k8&volume=1&issue=1&article=chap048 Weblinks http://www.religare.in/ http://www.religarecommodities.com/product_rally.asp http://money.rediff.com/companies/religare-enterprises-ltd/14010630/ratio http://indiaearnings.moneycontrol.com/sub_india/financialreports.php? sc_did=RE09&type=profit http://indiaearnings.moneycontrol.com/sub_india/financialreports.php? sc_did=RE09&type=balance http://www.moneycontrol.com/company-facts/religareenterprises/history/RE09 http://www.theinvestor.tv/money/thebrokerageindustry.htm http://www.economywatch.com/market/share-market/share-market-trading.html http://bseindia.com/deri/Deri/Introduction.htm?L=2&id=hd1&Lid=0 http://bseindia.com/deri/Deri/Eligibility.htm?L=2&id=hd1&Lid=1# http:// http://crmweblog.crmmastery.com/ http://www.thetawer.com/wiki/images/4/43/B._Customer_Relationship_Management _A_Framework.pdf

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