CUSTOMER RELATIONSHIP MANAGEMENT

(Summer Internship Project)

{May-June 2009} For

Submitte !y" #ushar $ Se%a& ('o(( )o* F-+2) Mohit M* !hen ar&ar ('o(( )o* ,- 0-) .n er the /ui ance o0 " Mr* Jic&y #homas (Product & Branch Head)

Institute o0 !usiness Mana1ement 2 'esearch

-34-25 Sunrise Par&5 )ear 6SI6 Schoo(5 ,ri%en In 'oa 5 6hme aba - 7-00+8* Ph* " 099-2:-+-949 3 800+2949 ;mai( " 6hme aba <ibmrin ia*or1 =ebsite " ===*ibmrin ia*or1

INDEX
1. 2. 3. !. Particular Introduction of the CRM Objective of the CRM Research Methodology "iterature Revie#
$raining I%&ortance ' (eeds of $raining $y&es of $raining Methods of $raining Reco%%endation ' Conclusion $raining )do&ted by us at )ngel $raining +nder ,ifferent ,e&art%ents .roble%s /aced at the $i%e of $raining 1uggestions to I%&rove

Page No.
5

16 1 2! !2 !2 !3 !6 !* !50 51

5. Industry )nalysis
Industry )nalysis at Indian "evel 12O$ )nalysis Major .layers in the Industry .roducts ' 1ervices

.ast .erfor%ance

51 62 6 *6 -0 -* ! 5 * -

6. ,ata )nalysis *. "i%itations -. /indings . 1uggestions 10.3ibliogra&hy

Pre0ace
#he Summer pro1ram o00ere by the I!M' >o((e1e5 is an en(i1htenin1 course 0or those =ho are =ishin1 to master their !usiness a ministration s&i((s5 =ith their &no=(e 1e* #his is an uni?ue course =hich is the co((aboration o0 M!6* It not on(y e%e(opes your mana1ement ta(ent but a(so e%e(op your technica( s&i((* It imparts the necessary theoretica( &no=(e 1e about the 0ie( but a(so pro%i es an opportunity to practica((y e@perience the app(ication o0 the business a ministration 0un amenta(s in the corporate as =e(( as the noncorporate sector* I =as una=are about the ro(e o0 e@chan1es an epositories in the secon ary mar&et* $ere I rea((y 1ot practica( &no=(e 1e about the ro(e o0 S;!I5 )S;5 an !S; etc* in the secon ary mar&et* )o= I am a=are about the buyin1 an se((in1 system in the secon ary mar&et throu1h bro&in1 0irm or sub-bro&er* I am %ery much than&0u( to Mr* Jic&y #homas5 Branch & Product Head5 main branch Maha(aya comp(e@ >* /* 'oa 5 6hme aba * I there0ore ha%e p(easure to present my trainin1 report5 =hich5 I hope as per the curricu(um re?uirements*

Acknowledgement
A#here is no such thin1 as a se(0 ma e man5 =e a(( are ma e up thousan s o0 othersB C /eor1e 6 ams* I am in ebte to my 0acu(ty5 the Facu(ty o0 Socia( Dor& 0or pro%i in1 the stu ents an opportunity to e@perience the practica( =or&in1 o0 the &no=(e 1e imparte to us theoretica((y*

I am 1rate0u( to 6n1e( !ro&in1 Eimite 0or a((o=in1 me to un erta&e my summer trainin1 in the or1aniFation* #o mention5 I =ou( (i&e to e@ten my 1ratitu e to=ar sMr* $arshit !ha%sar (!usiness ,e%e(opment $ea ) Mr* Gira( Hapa ia (!usiness ,e%e(opment Mana1er) #hey he(pe me urin1 my entire trainin1 pro1ram* I =ou( a(so (i&e to than& Mr* Jic&y #homas an Mrs* Pan&ti shah =ho 0aci(itate me in my practica( (earnin1*

Introduction to CRM
!e0ore =e be1in to e@amine the conceptua( 0oun ations o0 >'M5 it =i(( be use0u( to e0ine5 =hat is >'MI 6 narro= perspecti%e o0 customer re(ationship mana1ement is atabase mar&etin1 emphasiFin1 the promotiona( aspects o0 mar&etin1 (in&e to atabase e00orts* 6nother narro=5 yet re(e%ant5 %ie=point is to consi er >'M on(y as customer retention in =hich a %ariety o0 a0ter mar&etin1

tactics is use 0or customer bon in1 or stayin1 in touch a0ter the sa(e is ma e* Shani an >ha(asani e0ine re(ationship mar&etin1 as Aan inte1rate e00ort to i enti0y5 maintain5 an bui( up a net=or& =ith in i%i ua(s consumers an to continuous(y stren1then the net=or& 0or mutua( bene0it o0 both si es5 throu1h interacti%e5 in i%i ua(iFe an %a(ue-a e contacts o%er a perio o0 timeB* #he core theme o0 a(( >'M an re(ationship mar&etin1 perspecti%es is its 0ocus on cooperati%e an co((aborati%e re(ationships bet=een the 0irm an its customers5 an 3or other mar&etin1 actors* >'M is base on the premise that5 by ha%in1 a better un erstan in1 o0 the customersJ nee s an esires =e can &eep them (on1er an se(( more to them* /ro=th Strate1ies Internationa( (/SI) per0orme a statistica( ana(ysis o0 >ustomer satis0action ata encompassin1 the 0in in1s o0 o%er 95000K customer sur%eys con ucte by 6n1e( !ro&in1 Et * >'M (customer re(ationship mana1ement) is an in0ormation in ustry term 0or metho o(o1ies5 so0t=are5 an usua((y Internet capabi(ities that he(p an enterprise mana1e customer re(ationships in an or1aniFe =ay*
For e@amp(e5 an enterprise mi1ht bui( a atabase about its customers that escribe re(ationships in su00icient etai( so that mana1ement5 sa(espeop(e5 peop(e pro%i in1 ser%ice5 an perhaps the customer irect(y cou( access in0ormation5 match customer nee s =ith pro uct p(ans an o00erin1s5 remin customers o0 ser%ice re?uirements5 &no= =hat other pro ucts a customer ha purchase 5 an so 0orth*

#he essence o0 the in0ormation techno(o1y re%o(ution an 5 in particu(ar5 the Dor( Di e Deb is the opportunity to bui( better re(ationships =ith customers than has been pre%ious(y possib(e in the o00(ine =or( * !y combinin1 the abi(ities to respon irect(y to customer re?uests an to pro%i e the customer =ith a hi1h(y interacti%e5 customiFe e@perience5 companies ha%e a 1reater abi(ity to ay to estab(ish5 nurture5 an sustain (on1-term customer re(ationships than e%er be0ore* #he u(timate 1oa( is to trans0orm these re(ationships into 1reater pro0itabi(ity by increasin1 repeat purchase rates an re ucin1 customer ac?uisition costs* In ee 5 this re%o(ution in customer re(ationship mana1ement or >'M*1 as it is ca((e 5 has been re0erre to as the ne= AmantraB o0 mar&etin1* 2 >ompanies (i&e Siebe(5 ;*piphany5 Lrac(e5 !roa %ision5 )et Perceptions5 Hana an others ha%e 0i((e this >'M space =ith pro ucts that o e%erythin1
5

0rom trac& customer beha%ior on the Deb to pre ictin1 their 0uture mo%es to sen in1 irect e-mai( communications* #his has create a =or( =i e mar&et 0or >'M pro ucts an ser%ices o0 M78 bi((ion in 4999 an =hich is 0orecaste by I,> to 1ro= to M42+ bi((ion by 2008* 3 #he nee to better un erstan customer beha%ior an 0ocus on those customers =ho can e(i%er (on1-term pro0its has chan1e ho= mar&eters %ie= the =or( * #ra itiona((y5 mar&eters ha%e been traine to ac?uire customers5 either ne= ones =ho ha%e not bou1ht the pro uct cate1ory be0ore or those =ho are current(y competitorsJ customers* #his has re?uire hea%y oses o0 mass a %ertisin1 an price-oriente promotions to customers an channe( members* #o ay5 the tone o0 the con%ersation has chan1e 0rom customer ac?uisition to retention* #his re?uires a i00erent min set an a 7 i00erent an ne= set o0 too(s* 6 1oo thou1ht e@periment 0or an e@ecuti%e au ience is to as& them ho= much they spen an 3or 0ocus on ac?uisition %ersus retention acti%ities* Dhi(e it is i00icu(t to per0ect(y istin1uish the t=o acti%ities 0rom each other5 the ans=er is usua((y that ac?uisition ominates retention*

6ccor in1 to one in ustry %ie=5 >'M consists o0"

$e(pin1 an enterprise to enab(e its mar&etin1

epartments to i enti0y an tar1et their best customers5 mana1e mar&etin1 campai1ns =ith c(ear 1oa(s an objecti%es5 an 1enerate ?ua(ity (ea s 0or the sa(es team* sa(es mana1ement by optimiFin1 in0ormation share by mu(tip(e emp(oyees5 an stream(inin1 e@istin1 processes (0or e@amp(e5 ta&in1 or ers usin1 mobi(e e%ices)

6ssistin1 the or1aniFation to impro%e te(esa(es5 account5 an

6((o=in1 the 0ormation o0 in i%i ua(iFe

re(ationships =ith customers5 =ith the aimo0 impro%in1 customer satis0action an

ma@imiFin1 pro0itsN i enti0yin1 the most pro0itab(e customers an pro%i in1 them the hi1hest (e%e( o0 ser%ice*
Pro%i in1 emp(oyees =ith the in0ormation an

processes necessary to &no= their customers5 un erstan their nee s5 an e00ecti%e(y bui( re(ationships bet=een the company5 its customer base5 an istribution partners*

>'M-->ustomer 'e(ationship Mana1ement--has entere the mainstream* ,espite the uncertainty o0 the economy5 >'M is bein1 thrust into corporate bu 1ets an ta(&e about as a critica( initiati%e by hun re s o0 Fortune 45000 an tens o0 thousan s o0 other companies* It has 1one 0rom bein1 an important e 1e in the business =or( to a necessary too( 0or sur%i%a(* #he notion o0 the customer as &in1 or ?ueen is once a1ain the ru(e* $o= you treat this is a missioncritica( business issue* !ut5 =hat is >'M an ho= oes it chan1e the =ay companies o businessI #he chan1es in the =or( ha%e been so ynamic an so ramatic that the path is not necessari(y a(( that ob%ious* $o= >'M impacts that business path is a continuin1 source o0 ebate in the =or( o0 corporate mana1ement* Mana1in1 re(ationships =ith customers has become a critica( or1aniFationa( competency* /et =innin1 strate1ies 0or ac?uirin1 an retainin1 customers by (e%era1in1 the (atest a %ance techno(o1ies* #his course =i(( teach you ho= to se(ect the ri1ht too(s 0or your business-- so it can 1ro= to ay--an on into the 0uture* Ea11in1 means (ost customers5 =hich means ama1e to the bottom (ine* !ut ho= o you not (a1 =hen customers are mo%in1 (i1htnin1 0ast to eman constant chan1es in the spee to comp(ete their transactionsI $o= o you &eep your customers =hen the mo%e to another company is nothin1 more than a mouse c(ic& an a minute a=ayI >'M is the ans=er* >ustomer 'e(ationship Mana1ement5 a strate1y that (e%era1es %ery a %ance techno(o1ies is the =ay to cut to the 24st >entury business chase*

Histor o! CRM
>ustomer 'e(ationship Mana1ement (>'M) is one o0 those ma1ni0icent concepts that s=ept the business =or( in the 4990Js =ith the promise o0 0ore%er chan1in1 the =ay businesses sma(( an (ar1e interacte =ith their customer bases* In the short term5 ho=e%er5 it pro%e to be an un=ie( y process that =as better in theory than in practice 0or a %ariety o0 reasons* First amon1 these =as that it =as simp(y so i00icu(t an e@pensi%e to trac& an &eep the hi1h %o(ume o0 recor s nee e accurate(y an constant(y up ate them* In the (ast se%era( years5 ho=e%er5 ne=er so0t=are systems an a %ance trac&in1 0eatures ha%e %ast(y impro%e >'M capabi(ities an the rea( promise o0 >'M is becomin1 a rea(ity* 6s the price o0 ne=er5 more customiFab(e Internet so(utions ha%e hit the mar&etp(aceN competition has ri%en the prices o=n so that e%en re(ati%e(y sma(( businesses are reapin1 the bene0its o0 some custom >'M pro1rams* In the be1innin1O
-

#he 49-0Js sa= the emer1ence o0 atabase mar&etin15 =hich =as simp(y a catch phrase to e0ine the practice o0 settin1 up customer ser%ice 1roups to spea& in i%i ua((y to a(( o0 a companyJs customers* In the case o0 (ar1er5 &ey c(ients it =as a %a(uab(e too( 0or &eepin1 the (ines o0 communication open an tai(orin1 ser%ice to the c(ients nee s* In the case o0 sma((er c(ients5 ho=e%er5 it ten e to pro%i e repetiti%e5 sur%ey-(i&e in0ormation that c(uttere atabases an i nJt pro%i e much insi1ht* 6s companies be1an trac&in1 atabase in0ormation5 they rea(iFe that the bare bones =ere a(( that =as nee e in most cases" =hat they buy re1u(ar(y5 =hat they spen 5 =hat they o* 6 %ances in the 4990Js In the 4990Js companies be1an to impro%e on >ustomer 'e(ationship Mana1ement by ma&in1 it more o0 a t=o-=ay street* Instea o0 simp(y 1atherin1 ata 0or their o=n use5 they be1an 1i%in1 bac& to their customers not on(y in terms o0 the ob%ious 1oa( o0 impro%e customer ser%ice5 but in incenti%es5 1i0ts an other per&s 0or customer (oya(ty* #his =as the be1innin1 o0 the no= 0ami(iar 0re?uent 0(yer pro1rams5 bonus points on cre it car s an a host o0 other resources that are base on >'M trac&in1 7777 customer acti%ity an spen in1 patterns* >'M =as no= bein1 use as a =ay to increase sa(es passi%e(y as =e(( as throu1h acti%e impro%ement o0 customer ser%ice* #rue >'M comes o0 a1e 'ea( >ustomer 'e(ationship Mana1ement as itJs thou1ht o0 to ay rea((y be1an in earnest in the ear(y years o0 this century* 6s so0t=are companies be1an re(easin1 ne=er5 more a %ance so(utions that =ere customiFab(e across in ustries5 it became 0easib(e to rea((y use the in0ormation in a ynamic =ay* Instea o0 0ee in1 in0ormation into a static atabase 0or 0uture re0erence5 >'M became a =ay to continuous(y up ate un erstan in1 o0 customer nee s an beha%ior* !ranchin1 o0 in0ormation5 sub-0o( ers5 an custom tai(ore 0eatures enab(e companies to brea& o=n in0ormation into sma((er subsets so that they cou( e%a(uate not on(y concrete statistics5 but in0ormation

on the moti%ation an reactions o0 customers* #he Internet pro%i e a hu1e boon to the e%e(opment o0 these hu1e atabases by enab(in1 o00site in0ormation stora1e5 =here be0ore companies ha i00icu(ty supportin1 the enormous amounts o0 in0ormation* #he Internet pro%i e ne= possibi(ities an >'M too& o00 as pro%i ers be1an mo%in1 to=ar Internet so(utions* Dith the increase 0(ui ity o0 these pro1rams came a (ess ri1i re(ationship bet=een sa(es5 customer ser%ice an mar&etin1* >'M enab(e the e%e(opment o0 ne= strate1ies 0or more cooperati%e =or& bet=een these i00erent i%isions throu1h share in0ormation an un erstan in15 (ea in1 to increase customer satis0action 0rom or er to en pro uct* #o ay5 >'M is sti(( uti(iFe most 0re?uent(y by companies that re(y hea%i(y on t=o istinct 0eatures" customer ser%ice or techno(o1y* #he three sectors o0 business that re(y most hea%i(y on >'M -- an use it to 1reat a %anta1e -- are 0inancia( ser%ices5 a %ariety o0 hi1h tech corporations an the te(ecommunications in ustry* #he 0inancia( ser%ices in ustry in particu(ar trac&s the (e%e( o0 c(ient satis0action an =hat customers are (oo&in1 0or in terms o0 chan1es an persona(iFe 0eatures* #hey a(so trac& chan1es in in%estment habits an spen in1 patterns as the economy shi0ts* So0t=are speci0ic to the in ustry can 1i%e 0inancia( ser%ice pro%i ers tru(y impressi%e 0ee bac& in these areas* In recent years ho=e%er5 se%era( 0actors ha%e contribute to the rapi e%e(opment an e%o(ution o0 >'M* #hese inc(u e" 4* The growing de-intermediation process in many in ustries ue to the a %ent o0 sophisticate computer an te(ecommunication techno(o1ies that a((o= pro ucers to irect(y interact =ith en customers* For e@amp(e5 in many in ustries such as air(ines5 ban&s insurance5 so0t=are or househo( app(iances an e%en consumab(es5 the e-interme iation process is 0ast chan1in1 the nature o0 mar&etin1 an conse?uent(y ma&in1 re(ationship mar&etin1 more popu(ar* ,atabases an irect mar&etin1 too(s 1i%e them the means to in i%i ua(iFe their mar&etin1 e00orts* 2* Advances in information techno og!" net=or&in1 an manu0acturin1 techno(o1y ha%e he(pe companies to ?uic&(y match

10

competition* 6s a resu(t pro uct ?ua(ity an si1ni0icant competiti%e a %anta1es*

cost are no (on1er

7* The growth in service econom!# Since ser%ices are typica((y pro uce an e(i%ere at the same institution5 it minimiFes the ro(e o0 the mi (emen* 8* 6nother 0orce ri%in1 the a option o0 >'M has been the tota $ua it! movement# Dhen companies embrace #PM it became necessary to in%o(%e customers an supp(iers in imp(ementin1 the pro1ram at a(( (e%e(s o0 the %a(ue chain* #his nee e c(ose =or&in1 re(ationships =ith the customers* #hus se%era( companies such as Motoro(a5 I!M5 /enera( Motors5 Qero@5 For 5 #oyota5 etc 0orme partnerin1 re(ations =ith supp(iers an customers to practice #PM* Lther pro1rams such as JI# an M'P a(so ma e use o0 inter epen ent re(ationships bet=een supp(iers an customers* +* %ustomer e&pectations are chan1in1 a(most on a ai(y basis* )e=(y empo=ere customers5 =ho choose5 ho= to communicate =ith the companiesJ %arious a%ai(ab(e channe(sI 6(so no=a ays consumers e@pect a hi1h e1ree o0 persona(iFation* :* 'merging rea time5 interacti%e channe(s inc(u in1 e-mai(5 6#Ms an ca(( centre that must be synchroniFe =ith customerJs none(ectronic acti%ities* #he spee o0 business chan1e5 re?uirin1 0(e@ibi(ity an rapi a option to techno(o1ies* 9* In the current era o0 h!per competition5 mar&eters are 0orce to be more concerne =ith customer retention an customer (oya(ty* -* 6s se%era( researches ha%e 0oun out retaining customers is ess e&pensive an more sustainab(e competiti%e a %anta1e than ac?uirin1 ne= ones* 9* Ln the supp(y si e it pays more to e%e(op c(oser re(ationships =ith a few supp iers than to e%e(op more %en ors* 40* #he g o(a i)ation o0 =or( mar&etp(ace ma&es it necessary to ha%e 1(oba( account mana1ement 0or the customers*

11

"e!inition# $
A>'M is concerne =ith creatin1 impro%e shareho( er %a(ue throu1h the use o0 customer centric business processes an the e%e(opment o0 appropriate re(ationships =ith consumers*B Im%lementing CRM# >'M re?uires an inte1ration o0 a 0irmRs resourcesN peop(e5 operations an mar&etin1 capabi(ities to e(i%er a e %a(ue to the customers* >'M shou( pro%i e businesses an or1aniFations =ith a Ssin1(e %ie=J o0 their customers an across irrespecti%e o0 the interacti%e channe( or me ium throu1h =hich the customer accesses the ser%ice or pro uct* For e@amp(e5 a business (e*1* hote() customerJs pro0i(e an persona( re0erences shou( be accessib(e to the business (or hote() irrespecti%e o0 channe( i*e* =hether the customer boo&s on(ine5 ca((s in or =a(&s into any (ocation shou( not ma&e a i00erence to the ser%ice pro%i e base on the persona( pro0i(e o0 the business c(ient* It is enab(e throu1h" In0ormation Processes #echno(o1y 6pp(ications

6 0irm that =ants to imp(ement >'M must a(i1n itRs business processes cross-0unctiona((y in the best possib(e =ay to a((o= increase customer 0ocus =ith an aim to e(i%er a e %a(ue to the customer* #o imp(ement >'M5 the 0o((o=in1 steps must be 0o((o=e " ,e%e(op a >'M 0rame=or& 6(i1n current business processes

12

 ,esi1n ne= cross-0unctiona( business processes (=here re?uire ) ,e%e(op Functiona( Speci0ications (c(ient-si e ser%ices) ,e%e(op #echnica( Speci0ications Match #echnica( Speci0ications to a%ai(ab(e techno(o1y (Systems5 so0t=are5 etc) Pro uct >on0i1uration ,ata Mi1ration an Inte1ration Sta00 #rainin1

%ustomer *egmentation+ For >'M to be e00ecti%e5 the or1aniFationJs customer base must be strati0ie into se1ments base on commona(ities amon1st 1roupsJ o0 in i%i ua(s an customers* #his a(so re?uires the or1aniFation to ha%e strate1ies to tar1et conso(i ate customer se1ments* ,educed %ost of *ervice+ a customer re(ationship strate1y shou( re uce the cost o0 ser%ice 0or both the or1aniFation an itJs customers an increase satis0action (e%e(s* *ervice as a differentiator+ #he more competiti%e a mar&et becomes the more a business =i(( nee to re(y on its superior pro uct ?ua(ity an ?ua(ity o0 ser%ice to i00erentiate itse(0 0rom other businesses an pro%i ers*

13

 Tie-in-s over time+ #he 1reater the e00ort a customer spen s on a re(ationship o%er time5 the 1reater the customerJs sta&e in he(pin1 to ensure that the re(ationship =or&s an the more con%enient an (oya( the customer becomes*

Pit!&lls to &'oid#
Many >'M pro1rams 0ai( 0or t=o reasons" 4* Eac& o0 supporti%e business processes" !ecause business processes an or1aniFationa( 1oa(s are not part o0 a strate1ic >'M p(an tie to or1aniFationa( 1oa(s an objecti%es* 2* Eac& o0 an enterprise perspecti%e" For 'e(ationship Mar&etin1 to be e00ecti%e5 it re?uires that the or1aniFation creates a seam(ess enterprise %ie=* 6 (ot o0 >'M pro1rams 0ai( because they are assemb(e =ith isparate components that arenRt esi1ne to =or& to1ether as part o0 a comp(ete >'M system esi1ne to meet or1aniFationa( objecti%es*

Customer Rel&tions(i% M&n&gement Model

>';6#; 6 ,6#6 !6S;
1!

6)6ETSIS >.S#LM;' S;E;>#IL) >.S#LM;' #6'/;#I)/

';E6#IL)S$IP M6'H;#I)/ P'IG6>T ISS.;S

M;#'I>S

Customer Retention Progr&ms

15

/R46+4(C78 "O7)"$7 .RO9R)M1

C+1$OM4R 14R5IC4

C+1$OMI:)$IO(

>.S#LM;' ';E6#IL)S$IP M6)6/;M;)# S6#ISF6>#IL)

R42)R,1 .RO9R)M1

COMM+(I$7 3+I",I(9

O)*ecti'e o! t(e stud o! CRM

16

>'M5 in its broa est sense5 means mana1in1 a(( interactions an business =ith customers* #his inc(u es5 but is not (imite to5 impro%in1 customer ser%ice* 6 1oo >'M pro1ram =i(( a((o= a business to ac?uire customers5 ser%ice the customer5 increase the %a(ue o0 the customer to the company5 retain 1oo customers5 an etermine =hich customers can be retaine or 1i%en a hi1her (e%e( o0 ser%ice* 6 1oo >'M pro1ram can impro%e customer ser%ice by 0aci(itatin1 communication in se%era( =ays" Pro%i e pro uct in0ormation5 pro uct use in0ormation5 an technica( assistance on =eb sites that are accessib(e 28 hours a ay5 9 ays a =ee& I enti0y ho= each in i%i ua( customer e0ines ?ua(ity5 an then esi1n a ser%ice strate1y 0or each customer base on these in i%i ua( re?uirements an e@pectations* Pro%i e a 0ast mechanism 0or mana1in1 an sche u(in1 0o((o=up sa(es ca((s to assess post-purchase co1niti%e issonance5 repurchase probabi(ities5 repurchase times5 an repurchase 0re?uencies* Pro%i e a mechanism to trac& a(( points o0 contact bet=een a customer an the company5 an o it in an inte1rate =ay so that a(( sources an types o0 contact are inc(u e 5 an a(( users o0 the system see the same %ie= o0 the customer (re uces con0usion)* $e(p to i enti0y potentia( prob(ems ?uic&(y5 be0ore customer occur Pro%i e a user-0rien (y mechanism 0or re1isterin1 customer comp(aints (comp(aints that are not re1istere =ith the company cannot be reso(%e 5 an are a major source o0 customer issatis0action)* Pro%i e a 0ast mechanism 0or han (in1 prob(ems an comp(aints (comp(aints that are reso(%e ?uic&(y can increase customer satis0action)*

1*

 Pro%i e a 0ast mechanism 0or correctin1 ser%ice e0iciencies (correct the prob(em be0ore other customers e@perience the same issatis0action)* .se internet coo&ies to trac& customer interests an persona(iFe pro uct o00erin1s accor in1(y .se the Internet to en1a1e in co((aborati%e customiFation or rea(-time customiFation Pro%i e a 0ast mechanism 0or mana1in1 an sche u(in1 maintenance5 repair5 an on1oin1 support (impro%e e00iciency an e00ecti%eness) Mechanism to e%a(uate Potentia( HLMs* #o e%e(op inte1rate ,atabase* 6ssessin1 the nee o0 Potentia( HLMs* Days to meet those nee s* I enti0y the so0ter e(ements* ,e%isin1 a =ay to 'etain an 1ro= =ith those HLMs* Mo%in1 0urther ahea Satis0action ,e(i1htment ELT6EI#T #o e%e(op Strate1y an action p(an on ?uarter 2 annua( basis* #o 1ain &no=(e 1e about consumer beha%iour #o &no=5 ho= to maintain re(ationship =ith customerI #o &no=5 the nee s ana(ysis o0 customer #o un erstan 5 =ith the he(p o0 0ee bac& 0orm that =hy customers are not tra in1 =ith 6n1e( #o &no=5 the customer perception about companyJs pro ucts 2 ser%ices #o &no=5 the 1rie%ances amon1 the customers about pro ucts 2 ser%ices

#he >'M pro1ram can be inte1rate into other cross-0unctiona( systems an thereby pro%i e accountin1 an pro uction in0ormation to customers =hen they =ant it*

1-

 +ee%ing E,isting Customers /ra in1 customers 0rom %ery satis0ie to %ery isappointe shou( he(p the or1aniFation in impro%in1 its customer satis0action (e%e(s an scores* 6s the satis0action (e%e( 0or each customer impro%es5 so sha(( the customer retention =ith the or1aniFation* M&,imi-ing Li!e time '&lue ;@p(oit up-se((in1 an cross-se((in1 potentia(* !y i enti0yin1 (i0e sta1e an (i0e e%ent tri11er points by customer5 mar&eters can ma@imiFe share o0 purchase potentia(# #hus the sin1(e a u(ts sha(( re?uire a ne= car stereo an as he 1ro=s into a marrie coup(e his nee s 1ro= into app(iances* Incre&se Lo &lt Eoya( customers are more pro0itab(e* 6ny company =i(( (i&e its min share status to impro%e 0rom bein1 a suspect to bein1 an a %ocate* >ompany has to in%est in terms o0 its pro uct an ser%ice o00erin1s to its customers* It has to inno%ate an meet the %ery nee s o0 its customers so that they remain as a %ocates on the (oya(ty cur%e* 'e0erra( sa(es in%ariab(y are (o= cost hi1h mar1in sa(es*

Rese&rc( Met(odolog !or CRM

Meetin1 an satis0yin1 each customerJs nee uni?ue(y an in i%i ua((y* In the mass mar&ets in i%i ua(iFe in0ormation on customers is no= possib(e at (o= costs ue to the rapi e%e(opment in the in0ormation techno(o1y an ue to a%ai(abi(ity o0 sca(ab(e ata =arehouses an ata minin1 pro ucts* !y usin1 on(ine in0ormation an atabases on in i%i ua( customer interactions5 mar&eters aim to 0u(0i(( the uni?ue nee s o0 each mass-mar&et customer* In0ormation on in i%i ua( customers is uti(iFe to e%e(op 0re?uency mar&etin15 interacti%e mar&etin15 an a0ter mar&etin1 pro1rams in or er to e%e(op re(ationship =ith hi1h-yie( in1 customers* In the conte@t o0 business-to-business mar&ets5 in i%i ua( mar&etin1 has been in p(ace o0 ?uite sometime* Hno=n as Hey 6ccount Mana1ement Pro1ram5 here mar&eters appoint customer teams to husban the company resources accor in1 to in i%i ua( customer nee s* Continuit M&rketing Progr&ms #a&e the shape o0 membership an (oya(ty car pro1rams =here customers are o0ten re=ar e 0or their member an (oya(ty re(ationships =ith the mar&eters* #he basic premise o0 continuity mar&etin1 pro1rams is to retain customers an increase (oya(ty throu1h (on1-term specia( ser%ices that has a potentia( to increase mutua( %a(ue throu1h (earnin1 about each other* P&rtnering Progr&ms #he thir type o0 >'M pro1rams is partnerin1 re(ationships bet=een customer an mar&eters to ser%e en user nee s* In the mass mar&ets5 t=o types o0 partnerin1 pro1rams are most common" >obran in1 an a00inity partnerin1* Missin1 process o0 >'M #ra itiona((y customer re(ationship mana1ement (>'M) re%o(%es aroun the three 0unctions o0 se((in15 mar&etin1 an support* Garious process mo e(s ha%e been bui(t aroun ho= these 0unctions are inte1rate an operate in a customer oriente enterprise* #here is ho=e%er a 0ourth critica( 0unction that is (ac&in1 in most >'M mo e(s*
20

#he 0ourth 0unction that o0ten is the source o0 a competiti%e e 1e is that o0 inno%ation* >ompanies must continua((y rein%ent themse(%es to e(i%er an impro%e an o0ten a tota((y ne= %a(ue o00erin1 to their customer base* >'M must pro%i e the customer inte((i1ence that 0ee s in0ormation bac& into the enterpriseJs &no=(e 1e mana1ement processes =here it can tri11er ne= inno%ation processes* Dhen >'M is inte1rate into the inno%ation process5 si1ni0icant %a(ue can be eri%e 0rom 0aster time to mar&et cyc(e times an =ith ne= processes an ser%ices* Mar&etin1 automation must ensure that the inno%ation processes are actua((y mar&et ri%en* 6 mar&et ri%en inno%ation process must inc(u e both strate1ies that are 0ocuse on satis0yin1 customer re?uirements as =e(( as strate1ies 0ocuse at re e0inin1 customer re?uirements* Sa(es automation shou( be inte1rate =ith the inno%ation process by ensurin1 that a(( sa(es channe(s are prepare an rea y to ta&e ne= processes an ser%ices to mar&et be0ore competiti%e 0orces can react* >ustomer ser%ice automation must be esi1ne to empo=er the customer =ith the option o0 assistin1 =ith the esi1n o0 the %a(ue o00erin1* 'e e0inin1 >'M aroun inno%ation5 sa(es5 mar&etin1 an ser%ice can i enti0y ne= competiti%e opportunities 0or an enterprise* #he remainin1 ?uestion is =hether companies are prepare to ta&e the initiati%e an e@pan the e0inition o0 customer re(ationship mana1ement to inc(u e the process o0 inno%ation* #he pressure to e(i%er resu(ts =ithin the tra itiona( e0inition o0 >'M a(rea y o%er=he(ms companies* #he ia(o1 must start rather ear(ier than (ater because the competiti%e =in o= o0 tra itiona( >'M is ecreasin1 an customer eman s 0or a more inno%ati%e an responsi%e enterprise =i(( increase Arc(itecture o! CRM #here are three parts o0 app(ication architecture o0 >'M" 4* Lperationa( - automation to the basic business processes (mar&etin15 sa(es5 ser%ice) 2* 6na(ytica( - support to ana(yFe customer beha%ior5 imp(ements business inte((i1ence a(i&etechno(o1y 7* >o((aborati%e - ensures the contact =ith customers (phone5 emai(5 0a@5 =eb5 SMS5 post5 in person)

21

./ O%er&tion&l CRM Lperationa( >'M means supportin1 the U0ront o00iceU business processes5 =hich inc(u e customer contact (sa(es5 mar&etin1 an ser%ice)* #as&s resu(tin1 0rom these processes are 0or=ar e to resources responsib(e 0or them5 as =e(( as the in0ormation necessary 0or carryin1 out the tas&s an inter0aces to bac&-en app(ications are bein1 pro%i e an acti%ities =ith customers are bein1 ocumente 0or 0urther re0erence* Lperationa( >'M pro%i es the 0o((o=in1 bene0its" ,e(i%ers persona(iFe an e00icient mar&etin15 sa(es5 an ser%ice throu1h mu(ti-channe( co((aboration ;nab(es a 7:0- e1ree %ie= o0 your customer =hi(e you are interactin1 =ith them Sa(es peop(e an ser%ice en1ineers can access comp(ete history o0 a(( customer interaction =ith your company5 re1ar (ess o0 the touch point* #he operationa( part o0 >'M typica((y in%o(%es three 1enera( areas o0 business" *a es force automation (*.A) SF6 automates some o0 the companyRs critica( sa(es an sa(es 0orce mana1ement 0unctions5 0or e@amp(e5 (ea 3account mana1ement5 contact mana1ement5 ?uote mana1ement5 0orecastin15 sa(es a ministration5 &eepin1 trac& o0 customer pre0erences5 buyin1 habits5 an emo1raphics5 as =e(( as per0ormance mana1ement* SF6 too(s are esi1ne to impro%e 0ie( sa(es pro ucti%ity* Hey in0rastructure re?uirements o0 SF6 are mobi(e synchroniFation an inte1rate pro uct con0i1uration* %ustomer service and support (%**) >SS automates some ser%ice re?uests5 comp(aints5 pro uct returns5 an in0ormation re?uests* #ra itiona( interna( he(p es& an tra itiona( inboun ca((-center support 0or customer in?uiries are no= e%o(%e into the Ucustomer interaction centerU (>I>)5 usin1 mu(tip(e channe(s (Deb5 phone30a@5
22

0ace-to-0ace5 &ios&5 etc)* Hey in0rastructure re?uirements o0 >SS inc(u e computer te(ephony inte1ration (>#I) =hich pro%i es hi1h %o(ume processin1 capabi(ity5 an re(iabi(ity* 'nterprise mar/eting automation ('0A) ;M6 pro%i es in0ormation about the business en%ironment5 inc(u in1 competitors5 in ustry tren s5 an macro-en%ironmenta( %ariab(es* It is the e@ecution si e o0 campai1n an (ea mana1ement* #he intent o0 ;M6 app(ications is to impro%e mar&etin1 campai1n e00iciencies* Functions inc(u e emo1raphic ana(ysis5 %ariab(e se1mentation5 an pre icti%e mo e(in1 occurs on the ana(ytica( (!usiness Inte((i1ence) si e* Inte1rate >'M so0t=are is o0ten a(so &no=n as U0ront o00ice so(utions*U #his is because they ea( irect(y =ith the customer* Many ca(( centers use >'M so0t=are to store a(( o0 their customerRs etai(s* Dhen a customer ca((s5 the system can be use to retrie%e an store in0ormation re(e%ant to the customer* !y ser%in1 the customer ?uic&(y an e00icient(y5 an a(so &eepin1 a(( in0ormation o0 a customer in one p(ace5 a company aims to ma&e cost sa%in1s5 an a(so encoura1e ne= customers* >'M so(utions can a(so be use to a((o= customers to per0orm their o=n ser%ice %ia a %ariety o0 communication channe(s* For e@amp(e5 you mi1ht be ab(e to chec& your ban& ba(ance %ia your D6P phone =ithout e%er ha%in1 to ta(& to a person5 sa%in1 money 0or the company5 an sa%in1 your time* 0/ An&l tic&l CRM In ana(ytica( >'M5 ata 1athere =ithin operationa( >'M an 3or other sources are ana(yFe to se1ment customers or to i enti0y potentia( to enhance c(ient re(ationship* >ustomer ana(ysis typica((y can (ea to tar1ete campai1ns to increase share o0 customerRs =a((et* ;@amp(es o0 >ampai1ns irecte to=ar s customers are" 6c?uisition" >ross-se((5 up-se((

23

 'etention" 'etainin1 customers =ho (ea%e ue to maturity or attrition* In0ormation" Pro%i in1 time(y an re1u(ar in0ormation to customers* Mo i0ication" 6(terin1 etai(s o0 the transactiona( nature o0 the customersR re(ationship* 6na(ysis typica((y co%ers but is not (imite to" ,ecision support" ,ashboar s5 reportin15 metrics5 per0ormance etc* Pre icti%e mo e(in1 o0 customer attributes Strate1y an 'esearch 6na(ysis o0 >ustomer ata may re(ate to one or more o0 the 0o((o=in1 ana(yses" >ontact channe( optimiFation >ontact LptimiFation >ustomer 6c?uisition 3 'eacti%ation 3 'etention >ustomer Se1mentation >ustomer Satis0action Measurement 3 Increase Sa(es >o%era1e LptimiFation Frau ,etection an ana(ysis Financia( Forecasts Pricin1 LptimiFation Pro uct ,e%e(opment Pro1ram ;%a(uation 'is& 6ssessment an Mana1ement ,ata co((ection an ana(ysis is %ie=e as a continuin1 an iterati%e process* I ea((y5 business ecisions are re0ine o%er time5 base on 0ee bac& 0rom ear(ier ana(ysis an ecisions* #here0ore5 most success0u( ana(ytica( >'M projects ta&e a %anta1e o0 a ata =arehouse to pro%i e suitab(e ata* !usiness Inte((i1ence is a re(ate iscip(ine o00erin1 some more 0unctiona(ity as separate app(ication so0t=are* 1/ Coll&)or&ti'e CRM >o((aborati%e >'M 0aci(itates interactions =ith customers throu1h a(( channe(s (persona(5 (etter5 0a@5 phone5 =eb5 e-mai() an supports co-or ination o0 emp(oyee teams an channe(s* It is a

2!

so(ution that brin1s peop(e5 processes an ata to1ether so companies can better ser%e an retain their customers* #he ata3acti%ities can be structure 5 unstructure 5 con%ersationa( an 3or transactiona( in nature* >o((aborati%e >'M pro%i es the 0o((o=in1 bene0its" ;nab(e e00icient pro ucti%e customer interactions across a(( communications channe(s ;nab(es =eb co((aboration to re uce customer ser%ice costs Inte1rates ca(( centers enab(in1 mu(ti-channe( persona( customer interaction Inte1rates %ie= o0 the customer =hi(e interaction at the transaction (e%e(

25

Liter&ture Re'iew
Com%&n Pro!ile#
6n1e( !ro&in1 Eimite is one o0 the (ea in1 an pro0essiona((y mana1e stoc& bro&in1 0irm in%o(%e in ?ua(ity ser%ices an research* 6n1e( !ro&in1 Eimite is a corporate member o0 #he Stoc& ;@chan1e5 Mumbai* #he membership o0 the company =ith #he Stoc& ;@chan1e Mumbai =as ori1ina((y in the name o0 Mu&esh '* /an hi5 =hich =as e%entua((y turne into a corporate membership in the name o0 6n1e( !ro&in1 Eimite * 6n1e( !ro&in1 Eimite is mana1e by Mr* ,inesh #ha&&ar an he is =e(( supporte by Mr* Mu&esh /an hi5 a 0i0teen years %eteran in the mar&et* #he 1roup is =e(( supporte by a pro0essiona( an ?ua(i0ie research team an e00icient operations an bac& o00ice team5 =hich comprises o0 hi1h(y e icate an ?ua(i0ie in i%i ua(s* 6n1e( has an in-house5 state o0 art research epartment* 6n1e( be(ie%es in reachin1 out to the customer at the 0arthest en rather than by reachin1 out to them* #he company in its ;n ea%our to 1i%e its c(ient the best has opene up se%era( branches a(( o%er Mumbai5 =hich are e00icient(y inte1rate =ith the $ea L00ice* 6n1e( !ro&in1 Eimite is primari(y into retai( stoc& bro&in15 =ith a customer base o0 retai( in%estors5 =hich has been increasin1 at a compoun e 1ro=th rate o0 400V e%ery year* #he company has hu1e net=or& sub-bro&ers in Mumbai an other p(aces outsi e Mumbai5 re1istere =ith S;!I5 =ho act as channe( partners 0or the company* #he company present(y has the tota( sta00 stren1th o0 aroun 4+0 emp(oyees =ho are sprea accor in1(y across the hea o00ice an a(( the branches*
26

6n1e( has empo=ere its physica( presence throu1hout In ia throu1h %arious strate1ies =hich it has been a optin1 e00icient(y an e00ecti%e(y o%er a perio o0 time5 (i&e openin1 up o0 branches at %arious p(aces5 tie-ups =ith %arious a1encies an sa(es a1ents5 buyouts o0 sma((er re1iona( out0its an appointment o0 sub-bro&ers an 0ranchisees* Moreo%er5 6n1e( !ro&in1 Et * has been tappin1 an inc(u in1 hi1h net-=orth an se(0-emp(oye in i%i ua(s to its %ast array o0 c(ients* 6n1e( has a(=ays stri%e in the irection o0 e(i%erin1 u(timate c(ient satis0action an e%e(opin1 stron1er bon s =ith its customers an chose partners* 6n1e( has a %ision to intro uce ne= an inno%ati%e pro ucts an ser%ices re1u(ar(y* Moreo%er 6n1e( has been one amon1 the pioneers to intro uce the (atest techno(o1ica( inno%ations an inte1rate it e00icient(y =ithin its business* 6n1e( !ro&in1 Et tryst =ith e@ce((ence in customer re(ations be1an in 49-9* #o ay5 6n1e( has emer1e as one o0 the most respecte Stoc&-!ro&in1 an Dea(th Mana1ement >ompanies in In ia* Dith its uni?ue retai(-0ocuse stoc& tra in1 business mo e(5 6n1e( is committe to pro%i in1 S'ea( Ga(ue 0or MoneyJ to a(( its c(ients* #he 6n1e( /roup is a member o0 the !ombay Stoc& ;@chan1e (!S;)5 )ationa( Stoc& ;@chan1e ()S;) an the t=o (ea in1 >ommo ity ;@chan1es in the country" )>,;Q 2 M>Q* 6n1e( is a(so re1istere as a ,epository Participant =ith >,SE

6n1e(Js !usiness

;?uity #ra in1 >ommo ities Port0o(io Mana1ement Ser%ices Mutua( Fun s Ei0e Insurance Persona( Eoans IPL ,epository Ser%ices In%estment 6 %isory

6n1e(Js Presence
2*

)ation-=i e net=or& o0 24 'e1iona( $ubs Presence in 428 cities L%er :-40 Sub-!ro&ers 2 !usiness 6ssociates More than +*9 (a&h >(ients

6n1e( /roup

6n1e( !ro&in1 Et * 6n1e( >apita( 2 ,ebt Mar&et Et * 6n1e( >ommo ities !ro&in1 Et * 6n1e( Securities Et *

2o&rd o! "irectors# $
Mr* ,inesh #ha&&ar Foun er >hairman 2 Mana1in1 ,irector
2-

#he 6n1e( /roup o0 >ompanies =as brou1ht to (i0e by Mr* ,inesh #ha&&ar* $e %enture into stoc& tra in1 =ith an intention to raise capita( 0or his o=n in epen ent enterprise* $o=e%er5 he reco1niFe the opportunity o00ere by the stoc& mar&et to ser%e in i%i ua( in%estors* #hus In iaJs 0irst retai(-0ocuse stoc&-bro&in1 house =as estab(ishe in 49-9* .n er his (ea ership5 6n1e( became the 0irst bro&in1 house to embrace ne= techno(o1y 0or 0aster5 more e00ecti%e an a00or ab(e ser%ices to retai( in%estors* Mr* #ha&&ar is %a(ue 0or his un erstan in1 o0 the economy an the stoc&-mar&et* #he print an e(ectronic me ia o0ten see& his %ie=s on the mar&et tren as =e(( as in%estment strate1ies*
Mr* Ea(it #ha&&ar ,irector C 'esearch

Mr* Ea(it #ha&&ar is the moti%atin1 0orce behin 6n1e(Js hi1h(y acc(aime 'esearch team* $eJs been a part o0 the senior mana1ement team since the 6n1e( /roupJs inception* $is technica( an 0un amenta( out(oo& has pro%i e impetus to 6n1e(Js mar&et research team* 'esearch-base 2 persona(iFe a %isory ser%ices are 6n1e(Js 0orte5 an Mr* Ea(it #ha&&ar has un oubte (y been the brain behin it* Dhen it comes to ana(yFin1 the mar&et5 Mr* Ea(it #ha&&ar is tru(y a 1enius* $is han s-on e@perience an 0un amenta( &no=(e 1e

o0 the mar&et can pre ict the mar&et tren ear(y* $is %ie=s on the mar&et tren are o0ten ?uote in the print an e(ectronic me ia*
Mr* 6mit Majum ar >hie0 Strate1y L00icer

6 chartere 6ccountant by ?ua(i0ication5 Mr* 6mit Majum ar is a &ey member o0 6n1e(Js strate1ic ecision-ma&in1 process* $e has been =ith the 1roup since 6u1ust 2008* $e has han (e se%era( 0unctions o0 the 1roup (i&e 0inance an operations5 to name a 0e=* $e has rich e@perience in 0inance5 in%estment ban&in15 treasury5 consu(tancy an a %isory ser%ices* Mr* Majum ar has (e many success0u( initiati%es 0or the 1roup* !e0ore joinin1 the 6n1e( /roup5 Mr* Majum ar has been associate =ith 'abo In ia Finance5 6mbit >orporate Finance an ;rnst 2 Toun1*
Mr* 'aji%

Pha &e ;@ecuti%e >ommunications

,irector

$'

>orp*

Mr* 'aji% Pha &e has acti%e(y contribute to the /roupJs 1ro=th o%er the (ast 0our years* $o( in1 a major in Finance5 Mr* 'aji% Pha &e is a strate1ic thin&er =ith e@pertise in the 0ie( o0 corporate p(annin15 internationa( mar&etin15 0inancia( ser%ices5 bran -bui( in15 $', an ?ua(ity mana1ement* Dith o%er 72 years o0 e@perience5 Mr* Pha &e has success0u((y (e S!.s an 0inancia( companies 0rom concept to commissionin1*
30

$is career horiFon spans Moti(a( Ls=a( Securities5 #imes /uaranty Financia(s5 )a1arjuna Securities an #ata ;@ports Et * $e is a(so a =e((-&no=n spea&er in the $' an business e%e(opment circuit an his %ie=s are 0eature on %arious e(ectronic me ia as =e((*
Mr* Ginay 61ra=a( ;@ecuti%e ,irector C ;?uity !ro&in1

Mr* Ginay 61ra=a( (ea s the ;?uity !ro&in1 business at 6n1e(5 =hich comprises !usiness ,e%e(opment5 Lperations5 Pro uct ,e%e(opment an ;-bro&in1 initiati%e* $e is acti%e(y in%o(%e in e@p(orin1 ne= =ays to a opt techno(o1y 0or business enhancement* 6 >hartere 6ccountant by ?ua(i0ication5 Mr* 61ra=a( be1an his career =ith the 6n1e( /roup as Finance an Lperations >onsu(tant5 an since then heJs ?uic&(y c(imbe up the corporate (a er*

Mr* )i&hi( ,a@ini ;@ecuti%e ,irector - Sa(es an Mar&etin1

31

Dith an M!6 in 0inance5 Mr* )i&hi( ,a@ini has been instrumenta( in intro ucin1 the concept o0 pro0essiona( mar&etin1 o0 bro&in1 ser%ices at 6n1e(* $is area o0 0ocus is !usiness ,e%e(opment5 'is& Mana1ement an Lperations* Mr* ,a@ini has immense e@perience in the mar&etin1 o0 0inancia( pro ucts an ser%ices* $e has been associate =ith $,F> !an& Et * in the past*
Mr* $itun1shu ,ebnath ;@ecuti%e ,irector - ,istribution 2

Dea(th Mana1ement

6 mar&etin1 pro0essiona( an a !ritish >he%enin1 scho(ar 0rom the Eon on Schoo( o0 ;conomics5 Mr* $itun1shu ,ebnath (ea s the ,istribution an Dea(th Mana1ement business at the 6n1e( /roup* It inc(u es the istribution o0 Insurance5 mutua( 0un s5 IPLs5 persona( (oans an other =ea(th mana1ement pro ucts* Mr* ,ebnath has o%er 4- years o0 in ustry e@perience* $e has been associate =ith #imes /uaranty Financia( Et *5 Fortress Financia( Ser%ices Et *5 6((iance >apita( 6sset Mana1ement an $,F> 6sset Mana1ement Et * in the past* Mr* Mu it Hu(shreshtha ;@ecuti%e ,irector - !usiness Inte((i1ence 2 6na(ytic

32

Mr* Mu it Hu(shreshtha hea s the a %ance ana(ytics an strate1ic business inte((i1ence i%ision at 6n1e(* Dith a !ache(orJs e1ree in ;n1ineerin1 an Ph, in ;conomics5 Mr* Mu it Hu(shreshtha has more than 42 years e@perience in the 0ie( o0 strate1y an business consu(tin1* $e has been associate =ith repute consu(tin1 0irms (i&e ,e(oitte >onsu(tin1 In ia5 ;rnst an Toun15 6rthur 6n ersen an D)S /(oba(* $e has a %ise se%era( bi1 c(ients in the .*S* an .*H* $e is a(so a &no=n spea&er at pub(ic seminars an con0erences or1anise by >II5 )6SS>LM5 In ian Schoo( o0 !usiness an II#*
Mr* Santanu Syam ;@ecuti%e ,irector C Lperations

Mr* Syam brin1s =ith him o%er 4- years o0 e@perience in the 0ie( o0 #ransaction !an&in15 Dho(esa(e !an&in15 #reasury !an&in15 >onsumer !an&in1 an >!S* $e starte his career =ith 6)W /rin (ays !an& an he =as a(so associate =ith Stan ar >hartere !an& in In ia as ,irector #ransactiona( !an&in1* Mr* Syam 0o((o=e up his ;n1ineerin1 e1ree =ith an M!6* $e has a(so atten e !an&in1 2 #echno(o1y seminars or1anise by S>! Sin1apore5 !S; In ia 2 ;uro Finance*
Mr* Hetan Shah 6ssociate ,irector - In0ormation #echno(o1y

33

I# is a strate1ic 0unction at 6n1e(* 6n Mr* Hetan Shah is in%o(%e in the esi1nin1 o0 6n1e(Js I# po(icies an Strate1ies* Mr* Shah (ea s a(( I#-re(ate acti%ities 0rom p(annin1 an bu 1etin1 to imp(ementation an maintenance* Mr* Shah has o%er 4- years o0 in ustry e@perience* $e has been in%o(%e in %arious aspects o0 !usiness Lperations in his pre%ious assi1nments*
Ms* Pin&y Hothari 6ssociate ,irector - Sa(es 6n

Mar&etin1

Ms* Pin&y Hothari is responsib(e 0or e%e(opment an e@pansion o0 the 6n1e( /roupJs business in Southern In ia* She starte her career at 6n1e( as !usiness ,e%e(opment ;@ecuti%e* She =as then appointe the hea o0 Surat !ranch an the South /ujarat re1ion5 be0ore assumin1 the ro(e o0 6ssociate ,irector* 6 ?ua(i0ie >ompany Secretary an an M!6 in Finance5 Ms* Hothari has %ast e@perience in business e%e(opment in the 0inancia( ser%ices in ustry*

Mr* )a%een Mathur 6ssociate ,irector C >ommo ities !usiness

3!

6 >F6 o0 49995 Mr* Mathur ho( s a Post /ra uation e1ree in Financia( Mana1ement an !usiness Finance* $e brin1s =ith him o%er 48 years o0 e@perience in the 0inancia( mar&ets* $e ha been associate =ith 'e(i1are >ommo ities5 Har%y >onsu(tants an =ith !E! Et in the past* $e has been in%o(%e in se%era( mana1ement acti%ities5 treasury operations5 corporate an strate1ic p(annin15 research acti%ities in Futures an Lptions mar&ets in his past assi1nments* Mr* Mathur is a re1u(ar spea&er on a(( the prominent 0inancia( ne=s channe(s*

Products &nd Ser'ices o! Angel

35

De ha%e been traine an intro uce to 6n1e(Js %arious pro uct an ser%ices5 =hich are as 0o((o=s"

E-Broking: 6n1e( o00ers se%era( user-0rien (y ser%ices to customers so that they can mana1e their stoc& port0o(io* Inc(u in15 on(ine capabi(ities (in&e to an in0ormation atabase to he(p customers in%est5 con0i ent(y* Lur e-bro&in1 ser%ices are specia((y esi1ne 0or the netsa%%y tra ers an in%estors =ho pre0er operatin1 0rom their home or o00ice5 throu1h the internet* #here are t=o types o0 so0t=are* 1# Browser-Based 6n1e( In%estor 6n1e( #ra e 2# App ication-Based 6n1e( ,iet 6n1e( 6ny=here USP3s o! Angel E$)roking Mu(tip(e ;@chan1es on a sin1(e screen- !S;5 )S;-F2L5 M>Q5 )>,;Q $ot &eys simi(ar to bro&erJs termina( Streamin1 ?uotes Pro ucts3So0t=are3!ac& o00ice trainin1 0or a(( ;-bro&in1 c(ients In- epth research 2 technica( chart5 intra- ay ca((s 28@9 !ac&-o00ice
36

 Gie=in1 (e 1er5 !i((s5 >ontracts5 Sau a summary5 Lpen Position5 $o( in1s5 ,P #ransactions5 6uction ,etai(s* 6uto pay-in o0 shares 2 Ln(ine Securities Pay-Lut Instant trans0er o0 0un 2 Ln(ine Fun s pay-out re?uest $i1h(y secure an con0i entia(

Port!olio m&n&gement ser'ice

Success0u( in%estin1 in >apita( Mar&ets eman s e%er more time an e@pertise* In%estment Mana1ement is an art an a science in itse(0* Pro0essiona( In%estment Mana1ement Ser%ices are no (on1er the pri%i(e1e o0 on(y (ar1e institutiona( in%estors* Port0o(io Mana1ement Ser%ices (PMS) is one such ser%ice that is 0ast 1ainin1 eminence as an in%estment a%enue o0 choice 0or $i1h )et=orth In%estors (i&e you* PMS is a sophisticate in%estment %ehic(e that o00ers a ran1e o0 specia(iFe in%estment strate1ies to capita(iFe on opportunities in the mar&et* #he Port0o(io Mana1ement Ser%ice combine =ith competent 0un mana1ement5 e icate research an techno(o1y5 ensures a re=ar in1 e@perience 0or its c(ients*

PRO"UCT 2OU4UET
&$ Angel O ster >hie0 In%estment L00icer Mr* 'ajen Shah !ottom up concentrate port0o(io o0 Mi >ompanies =ith emphasis on Ga(ue In%estin1* >ap 2 Sma(( >ap

1nvestor Profi e+ X #he scheme =ou( be suite 0or in%estors =ith me ium to hi1h ris& appetite ha%in1 (on1 term perspecti%e .ees and %harges 2V 6sset Mana1ement >har1es

3*

0*+0V bro&era1e on transactions )$ Angel 2lue$c(i% Fun Mana1er Mr* Phani Se&har ,i%ersi0ie ;?uity port0o(io o0 Ear1e cap 2 Mi >ap >ompanies* 1nvestor Profi e+ X #he scheme =ou( be suite 0or in%estors =ith me ium to (o= ris& appetite5 ha%in1 (on1 term perspecti%e* .ees and %harges X 2V 6sset Mana1ement Fees X 0*+0V !ro&era1e on transactions 6n1e( ;?uity ,eri%ati%es Fun Fun Mana1er Mr* Si arth !hamre !ottom-.p concentrate port0o(io =ith ;?uities 2 ,eri%ati%es5 an emphasis on $e 1in1 by usin1 %o(ati(ity in the Mar&ets* 1nvestor Profi e+ X #he scheme =ou( be suite 0or in%estors =ith (o= to me ium ris& appetite5 ha%in1 (on1 term perspecti%e* X Suitab(e 0or $)I >(ients an >orporate =ho =ant to par& money 0or consistent 'eturn 0rom the mar&et e%en i0 mar&et remaine 0(at* .ees and %harges X 2V 6sset Mana1ement >har1es X 0*40V on ,e(i%ery an 's*+0 0(at on options5 0*04V on 0utures c$ Angel Growt( Fun Mana1er Mr* Phani Se&har ,i%ersi0ie ;?uity port0o(io o0 Ear1e cap 2 Mi >ap >ompanies =ith emphasis on 1ro=th In%estment* 1nvestor Profi e+

3-

X #he scheme =ou( be suite 0or in%estors =ith mo erate ris& appetite* X 'ecommen e in%estment horiFon is 4+ to 4- months* .ees and %harges+ X 2V 6sset Mana1ement >har1es X 0*+V bro&era1e on transactions PMS c(&r&cteristics# $ Persona(iFe Ser%ice Interaction =ith Fun Mana1er 'e1u(ar 0ee bac& an reports Pro-acti%e mana1ement o0 0un s $o( in1s not impacte by entry3e@it o0 bi1 in%estors >an remain (i?ui 0or (on1 perio s ,iscip(ine in%estment process Pua(ity in%estments Eimitin1 ris& Eo= port0o(io turno%er Focus on 1eneratin1 6bso(ute returns rather than 'e(ati%e 'eturns

Angel Gold$
Product$ 5e&tures o! Angel Gold 6 premium ser%ice 0or c(ients =ho nee s pro0essiona( 1ui ance on (on1 term in%estments Minimum 0un s or port0o(io o0 's*4 Ea&h an ma@imum o0 's*8 Ea&hs =i(( be e(i1ib(e 0or 6n1e( /o( ** !ro&era1e o0 0*+0V-0*9+V 0or c(ients* +0V sharin1 o0 bro&era1e in case o0 Sub-bro&erJs c(ients* )o 6M>5 )o ;ntry3;@it (oa an )o pro0it sharin1 Shares can be &ept in 6n1e( poo( or can be trans0erre to the respecti%e ,P accounts
3

 Intimation re1ar in1 transaction =i(( be 1i%en to c(ients by e%enin1 o0 the ay o0 transaction )o Eoc&-in perio * Pro0its can be re eeme or re-in%estin1 base on c(ientJs =ish ;@istin1 c(ient account can be use 0or 6n1e( /LE,* >(ients can o there o=n transactions in the same account as =e((* 'esearch ,irector Mr* Ea(it #ha&&ar a(on1 =ith 42 senior ana(ysts =i(( ta&e in%estment ecisions In%estment =i(( be one 0or a (on1er time horiFon* (42-4Months) !ro=ser base !L so0t=are 0or c(ients an branches Month(y )e=s(etter =i(( be re(ease 0rom 6n1e( /LE, es& Perio ic meetin1s =i(( be he( in the branches POSITIONING 6n1e( /LE, is positione as an e?uity in%estment option 0or a(( those in%estors =ho aim 0or rea(istic return 0rom e?uity as an asset c(ass on a (on1 term perspecti%e* It is 0or the in%estors =ho5 =ishes to see& pro0essiona( a %ice 0or their in%estments* Uni6ue selling Pre%osition 7USP8 6 stron1 team o0 44 sector speci0ic ana(ysts hea e by 'esearch irector 1ui in1 the in%estments )o ;ntry3;@it (oa 5 )o pro0it sharin15 )o Mana1ement 0ees 6 corpus (imit as (o= as 's*4 Ea&h* 6 port0o(io o0 1ro=th stoc&s an not mar&et capita(iFation bias* F(e@ibi(ity o0 rein%estin15 re eemin1 an (i?ui atin1 the port0o(io 6 (o= cost so(ution 0or in%estin1* Product Segment

!0

 6n1e( /LE, is 0or the peop(e =ho 0a(( in mi (e c(ass C hi1her mi (e c(ass section o0 the society Peop(e =ho are not ris& a%erse an can un erstan the return bene0its %is-Y-%is ca(cu(ate ris& ta&en Peop(e =ho are ne= entrant to the e?uity mar&ets5 norma((y comin1 throu1h the Mutua( Fun route* T&rget Customers Toun1 pro0essiona(s earnin1 sa(aries aroun 's*7 Eacs to 's*: Eacs =ith one or t=o years e@perience Mi (e a1e pro0essiona(s consi erin1 tra itiona( =ays o0 in%estin1 i*e* F,s5 PPF5 1o( 5 bon s5 etc* Sma(( sca(e businessmen =ho are not ris& a%erse an =i(( un erstan the importance o0 reasonab(e returns 'etire peop(e =ho ha%e ta&en he0ty G'S or has sa%in1s o0 =hich 20-2+V can be in%este in e?uities

M&rgin 5unding &nd %re%&id )roker&ge

M&rgin 5unding AMar1in Fun in1B a((o= you to ta&e hi1her e@posure on the 0un s as =e(( as un(oc& the %a(ue o0 your e@istin1 port0o(io 2 ta&e a %anta1e o0 in%estment opportunities in the mar&et =ithout the in%o(%ement o0 0resh 0un s* Lne can use the shares in his current port0o(io to ma&e 0resh purchases in the mar&et* I0 uti(iFe pru ent(y5 this pro uct can he(p un(oc& the %a(ue o0 Securities e%en urin1 epresse Stoc& Mar&et con itions an pro%i e customers =ith the much-nee e (i?ui ity urin1 pressin1 times* Ad'&nt&ges#

Pro%i e instant (i?ui ity =ithout ha%in1 to se(( your Securities* 6((o= you to 1rab in%estment opportunities instant(y =ithout any nee to pay 0irst* Ee%era1e your 0un s a%ai(ab(e 0or in%estments*
!1

!ene0its (i&e bonuses an i%i en s continue to accrue to the borro=er* 6ny appreciation in the %a(ue o0 the Securities 1i%en as mar1in =ou( automatica((y a((o= enhancement in ra=in1 po=er* Interest ca(cu(ate on the amount uti(iFe 2 the time 0or =hich it is uti(iFe *

Pre$P&id 2roker&ge Pre-pai bro&era1e is one o0 the best schemes 0or customers to ta&e the a %anta1es o0 (ess bro&era1e* ,i00erent pre-pai rechar1e are a%ai(ab(e =ith i00erent %a(i ity* Some characteristics o0 pre-pai bro&era1e are as 0o((o=s"

Wero account openin1 char1es 6ttracti%e !ro&era1e 'ate Free ,P 6M> 0or 4 year 6ssure 1i0ts =orth thousan s =ith e%ery account* ;asy 2 Fast 'echar1e Free Financia( In%estment 6pp(ication =ith e%ery account

4u&lit Assur&nce ) Angel

6n1e( !ro&in1 is the First !ro&era1e $ouse to ha%e a Pua(ity 6ssurance >e(( across In ustry ,e icate P6 teams at >SL 2 branches to reso(%e c(ient ?ueries3 comp(aints throu1h te(ephone5 emai( or %isit* Pua(ity assurance ce(( is one such si1ni0icant mi(estone achie%e by the company5 =hich stan s 0or its per0ormance* ;stab(ishe in 200+5the ce(( =as set up as the compe((in1 nee =as 0e(t to shi0t 0rom Scustomer satis0action to customer e(i1htB 6n1e(Js e0inition o0 Pua(ity- Pro uct an ser%ices that tota((y satis0y an o0ten e@cee customer nee s an e@pectations in a(( respect to e(i1ht him* Simp(y put5 Pua(ity is achie%in1 a hi1h e1ree o0 e@ce((ence in a(( 0orms o0 acti%ities 0rom esi1n5 e%e(opment5 ser%in1 an ocumentation* A'i1ht First #ime an 'i1ht ;%ery #imeB* 6n to achie%e that5 they 0o((o= the 8 SPJ Pua(ity mo e("

!2

 Prob(em so(%in1-continuous impro%ement an (earnin1 Peop(e an Partners-'espect5 cha((en1e5 1ro=th Process-Stan ar iFe tas&s 0or continuous impro%ement Phi(osophy-Eon1 term thin&in1

Rese&rc( 9 Ad'isor
#he mar&ets en e Mon ay mar1ina((y in the 1reen5 a0ter openin1 =ea& ue to concerns about S=ine 0(u* #he In ices =ere =ea& at the outset o0 the #ues ay en in1 the ay in re * Mar&ets sur1e on De nes ay on positi%e 1(oba( cues an short co%erin1 in 6pri( 2009 eri%ati%es contracts* #he mar&ets remaine c(ose both on #hurs ay an Fri ay* #he mar&ets just en e the =ee& positi%e5 =ith the Sense@ 1ainin1 0*9V an the )i0ty c(osin1 mar1ina((y (o=er by 0*2V 5und&ment&l An&l sis Fun amenta( ana(ysis is one o0 the most use0u( too(s that in%estors use =hen ma&in1 ecisions about =hich stoc&s theyJre 1oin1 to buy* It is a process o0 e@aminin1 &ey ratios that sho= the current =orth o0 a stoc& an the recent per0ormance o0 a company* Fun amenta( ana(ysis is use to etermine the amount o0 money a company can ma&e an the &in o0 earnin1s an in%estor can e@pect* Future earnin1s may be subject to interpretation but 1oo earnin1 histories create con0i ence amon1 in%estors* #he stoc& prices may increase an the i%i en s may pay out* Stoc& mar&et ana(ysts etermine =hether a company is meetin1 its e@pecte 1ro=th by e@aminin1 the earnin1s that are reporte by the company on a re1u(ar basis* I0 the company oesnJt meet its e@pecte 1ro=th5 the prices o0 its stoc&s usua((y e@perience a o=nturn* #here are a (ot o0 too(s that are use to etermine the earnin1s an the %a(ue o0 a company on the stoc& mar&et* Most o0 these too(s
!3

re(y on the 0inancia( statements re(ease by the company* ,etai(s about the %a(ue o0 a company =hich inc(u e competiti%e a %anta1es an o=nership ratios bet=een the mana1ement an the outsi e in%estors can be re%ea(e throu1h 0urther 0un amenta( ana(yses*

.undamenta ana !sis is for the rationa man

#o ma&e 0inancia( 0orecasts #o con uct a company stoc& %a(uation 2 pre ict its probab(e price e%o(ution #o ma&e a projection on its business per0ormance #o e%a(uate its mana1ement an ma&e interna( business ecisions #o ca(cu(ate its cre it ris&

Tec(nic&l An&l sis

#he art an science o0 e@aminin1 stoc& chart ata an pre ictin1 0uture stoc& mar&et mo%ements is ca((e technica( ana(ysis* #his sty(e o0 ana(ysis is use by in%estors =ho are o0ten concerne about the nature an the %a(ue o0 the companies =here they tra e their stoc&s in* #he ho( in1s are usua((y shortterm since the in%estors rop the stoc&s once they reach their projecte pro0it* #he be(ie0 that stoc& prices mo%e in pre ictab(e patterns is the basis 0or technica( ana(ysis* #he 0actors that in0(uence the mo%ement o0 the price are suppose (y re0(ecte in the stoc& mar&et =ith 1reat e00iciency* #hese 0actors inc(u e company per0ormance5 economic status5 an natura( isasters* #he e00iciency5 =hen coup(e =ith historica( tren s5 pro uces mo%ements that can be ana(yFe an app(ie to the 0uture
!!

mo%ements o0 the stoc& mar&et* !ecause the 0un amenta( in0ormation about the potentia( 1ro=th o0 a company is not ta&en into account5 technica( ana(ysis is not inten e 0or (on1-term in%estments* #ra es are entere an e@ite at precise times so technica( ana(ysts nee to spen a (ot o0 time =atchin1 the mo%ements o0 the stoc& mar&et* In%estors can ta&e a %anta1e o0 both ups=in1s an o=ns=in1s in price by 1oin1 either (on1 or short* In the e%ent that the mar&et oesnJt mo%e as e@pecte 5 the (osses can be (imite by stop-(oss or ers* $un re s o0 stoc& patterns ha%e been e%e(ope o%er time* Most o0 these patterns re(y on the basic concepts o0 AsupportB an Aresistance*B #he (e%e( =here o=n=ar prices are e@pecte to rise 0rom is ca((e the support =hi(e the (e%e( =here the up=ar prices are e@pecte to reach be0ore 0a((in1 a1ain is ca((e the resistance* Lnce they hit the support or the resistance (e%e(s5 the prices ten to bounce*

:&lue Added Ser'ices

)'I Ser%ice ,es& 0or persona(iFe 6ssistance ,e icate L00(ine ;?uity ,ea(in1 ,es& Ln(ine ;?uity #ra in1 P(at0orm )'I In%estment 6 %isory ,es& P6) car 6ssistance Support 0or !an&in1 2 PIS 6ccount Port0o(io Mana1ement5 Mutua( Fun 5 ILP Ser%ices

!5

Tr&ining
6 trainin1 pro1ram can ser%e a ran1e o0 i%erse purposes5 an or1aniFations initiate trainin1 pro1rams 0or many i00erent reasons* Lne o0 the stron1est nee o0 trainin1 is to respon to cha((en1es presente by ne= techno(o1y* >ustomer 'e(ationship Mana1ement trainin1 at 6n1e( !ro&in1 he(pe us to meet the cha((en1es in current mar&et scenario* De came to &no= about maintainin1 (on1 (astin1 customer re(ationship* De =ere co%ere by Moti%ationa( speeches by !oar o0 irectors5 Pro uct an ser%ices5 'o(e p(ays5 !rain stormin15 Scrip esi1nin15 !ac& o00ice5 ,i00erent epartments at 6n1e( an the =ay they e@ecute their tas&s5 'esearch an 6 %isory5 Dea(th mana1ement ser%ices5 Ga(ue a e ser%ices an hea(thy iscussions 5Dhich are as 0o((o=s in etai("

Im%ort&nce 9 Needs o! Tr&ining

2ptimum 3ti i)ation of Human ,esources C #rainin1 he(ps in optimiFin1 the uti(iFation o0 human resource that 0urther he(ps the emp(oyee to achie%e the or1aniFationa( 1oa(s as =e(( as their in i%i ua( 1oa(s* 4eve opment of Human ,esources C #rainin1 he(ps to pro%i e an opportunity an broa structure 0or the e%e(opment o0 human resourcesJ technica( an beha%iora( s&i((s in an or1aniFation* It a(so he(ps the emp(oyees in attainin1 persona( 1ro=th* 4eve opment of s/i s of emp o!ees C #rainin1 he(ps in increasin1 the job &no=(e 1e an s&i((s o0 emp(oyees at each (e%e(* It he(ps to

!6

e@pan the horiFons o0 human inte((ect an an o%era(( persona(ity o0 the emp(oyees* Productivit! C #rainin1 he(ps in increasin1 the pro ucti%ity o0 the emp(oyees that he(ps the or1aniFation 0urther to achie%e its (on1-term 1oa(* Team spirit C #rainin1 he(ps in incu(catin1 the sense o0 team =or&5 team spirit5 an inter-team co((aborations* It he(ps in incu(catin1 the Fea( to (earn =ithin the emp(oyees* 2rgani)ation %u ture C #rainin1 he(ps to e%e(op an impro%e the or1aniFationa( hea(th cu(ture an e00ecti%eness* It he(ps in creatin1 the (earnin1 cu(ture =ithin the or1aniFation* 2rgani)ation % imate C #rainin1 he(ps bui( in1 the positi%e perception an 0ee(in1 about the or1aniFation* #he emp(oyees 1et these 0ee(in1s 0rom (ea ers5 subor inates5 an peers* 5ua it! C #rainin1 he(ps in impro%in1 upon the ?ua(ity o0 =or& an =or&-(i0e* Hea th! wor/-environment C #rainin1 he(ps in creatin1 the hea(thy =or&in1 en%ironment* It he(ps to bui( 1oo emp(oyee5 re(ationship so that in i%i ua( 1oa(s a(i1ns =ith or1aniFationa( 1oa(* Hea th and *afet! C #rainin1 he(ps in impro%in1 the hea(th an sa0ety o0 the or1aniFation thus pre%entin1 obso(escence* 0ora e C #rainin1 he(ps in impro%in1 the mora(e o0 the =or& 0orce* 1mage C #rainin1 he(ps in creatin1 a better corporate ima1e* Profita(i it! C #rainin1 (ea s to impro%e positi%e attitu es to=ar s pro0it orientation* pro0itabi(ity an more

#rainin1 ai s in or1aniFationa( e%e(opment i*e* Lr1aniFation 1ets more e00ecti%e ecision ma&in1 an prob(em so(%in1* It he(ps in un erstan in1 an carryin1 out or1aniFationa( po(icies*

!*

#rainin1 he(ps in e%e(opin1 (ea ership s&i((s5 moti%ation5 (oya(ty5 better attitu es5 an other aspects that success0u( =or&ers an mana1ers usua((y isp(ay*

METHO"S O5 TRAINING #he most =i e(y use metho s o0 trainin1 use by or1aniFations are c(assi0ie into t=o cate1ories" Ln-the-Job #rainin1 2 L00-the-Job #rainin1* L)-#$;-JL! #'6I)I)/ is 1i%en at the =or& p(ace by superior in re(ati%e(y short perio o0 time* #his type o0 trainin1 is cheaper 2 (ess time-consumin1* #his trainin1 can be imparte by basica((y 0our metho s" >oachin1 is (earnin1 by oin1* In this5 the superior 1ui es his subor inates 2 1i%es him3her job instructions* #he superior points out the mista&es 2 1i%es su11estions 0or impro%ement* Job 'otation" - In this metho 5 the trainees mo%e 0rom one job to another5 so that he3she shou( be ab(e to per0orm i00erent types o0 tas&s* ;*1* In ban&in1 in ustry5 emp(oyees are traine 0or both bac&en 2 0ront-en jobs* In case o0 emer1ency5 (absenteeism or resi1nation)5 any emp(oyee =ou( be ab(e to per0orm any type o0 job* LFF #$; JL! #'6I)I)/ is 1i%en outsi e the actua( =or& p(ace* Eectures3>on0erences"- #his approach is =e(( a apte to con%ey speci0ic in0ormation5 ru(es5 proce ures or metho s* #his metho is use0u(5 =here the in0ormation is to be share amon1 a (ar1e number o0 trainees* #he cost per trainee is (o= in this metho * Gi eo >(ips can pro%i e in0ormation 2 e@p(icit(y emonstrate s&i((s that are not easi(y presente by other techni?ues* Motion pictures are o0ten use in conjunction =ith >on0erence5 iscussions to c(ari0y 2 amp(i0y those points that the 0i(m emphasiFe *
!-

Simu(ation ;@ercise" - 6ny trainin1 acti%ity that e@p(icit(y p(aces the trainee in an arti0icia( en%ironment that c(ose(y mirrors actua( =or&in1 con itions can be consi ere a Simu(ation* Simu(ation acti%ities inc(u e case e@periences5 e@perientia( e@ercises5 %estibu(e trainin15 mana1ement 1ames 2 ro(e-p(ay* >ases" - present an in epth escription o0 a particu(ar prob(em an emp(oyee mi1ht encounter on the job* #he emp(oyee attempts to 0in an ana(yFe the prob(em5 e%a(uate a(ternati%e courses o0 action 2 eci e =hat course o0 action =ou( be most satis0actory* ;@perientia( ;@ercises" - are usua((y short5 structure (earnin1 e@periences =here in i%i ua(s (earn by oin1* For instance5 rather than ta(&in1 about inter-persona( con0(icts 2 ho= to ea( =ith them5 an e@perientia( e@ercise cou( be use to create a con0(ict situation =here emp(oyees ha%e to e@perience a con0(ict persona((y 2 =or& out its so(utions* Gestibu(e #rainin1" - ;mp(oyees (earn their jobs on the e?uipment they =i(( be usin15 but the trainin1 is con ucte a=ay 0rom the actua( =or& 0(oor* Dhi(e e@pensi%e5 Gestibu(e trainin1 a((o=s emp(oyees to 1et a 0u(( 0ee( 0or oin1 tas& =ithout rea( =or( pressures* 6 itiona((y5 it minimiFes the prob(em o0 trans0errin1 (earnin1 to the job* 'o(e P(ay" - Its just (i&e actin1 out a 1i%en ro(e as in a sta1e p(ay* In this metho o0 trainin15 the trainees are re?uire to enact e0ine ro(es on the basis o0 ora( or =ritten escription o0 a particu(ar situation* Mana1ement /ames" - #he 1ame is e%ise on a mo e( o0 a business situation* #he trainees are i%i e into 1roups =ho represent the mana1ement o0 competin1 companies* #hey ma&e ecisions just (i&e these are ma e in rea(-(i0e situations* ,ecisions ma e by the 1roups are e%a(uate 2 the (i&e(y imp(ications o0 the ecisions are 0e bac& to the 1roups* #he 1ame 1oes on in se%era( roun s to ta&e the time imension into account* In-!as&et ;@ercise" - 6(so &no=n as In-tray metho o0 trainin1* #he trainee is presente =ith a pac& o0 papers 2 0i(es in a tray containin15 a ministrati%e prob(ems 2 is as&e to ta&e ecisions on these
!

prob(ems 2 are as&e to ta&e ecisions on these =ithin a stipu(ate time* #he ecisions ta&en by the trainees are compare =ith one another* #he trainees are pro%i e 0ee bac& on their per0ormance*

RECOMMEN"ATIONS 9 CONCLUSION )o oubt #rainin1 is a %ery po=er0u( too( 0or the smooth 0unctionin1 o0 the or1aniFation5 but it nee s to be use =ith care in or er to eri%e a(( the bene0its* $ere are se%en recommen ations 0or 1ettin1 the best out o0 this too(" 4* Eearn about the nee s an pro0iciency o0 each an e%ery emp(oyee be0ore an or1aniFation in%ests its e00ort5 time 2 money on trainin1* Its better to i enti0y the nee s 2 shortcomin1s in an emp(oyee be0ore actua((y impartin1 trainin1 to him3her* 2* ;@perience 2 s&i((e trainer5 =ho possesses 1oo amount o0 &no=(e 1e 2 un erstan in1 about the or1aniFationRs objecti%es5 in i%i ua( abi(ities 2 the present en%ironment5 shou( 1i%e trainin1* 7* 6cti%e participation 0rom the trainees shou( be encoura1e * #here shou( be a t=o-=ay communication bet=een the trainer 2 trainee* 8* Fee bac& shou( be ta&en 0rom the trainees a0ter the trainin1 is o%er5 so that the or1aniFation comes to &no= about the e0iciencies in the trainin1 pro1ram 2 a(so su11estions to impro%e upon the same* +* Focus o0 trainin1 shou( be on priority e%e(opment nee s an to pro uce stron1 moti%ation to brin1 chan1e in emp(oyees* :* #he cost incurre on the trainin1 pro1ram shou( not e@cee its bene0its* 9* #he metho or type o0 trainin1 shou( be %ery cautious(y se(ecte by the or1aniFation epen in1 upon the or1aniFationsR resources 2 an emp(oyeeRs in i%i ua( nee 0or trainin1*

50

#hus5 trainin1 is a %ita( too( to cope up =ith the chan1in1 nee s 2 techno(o1ies5 2 e%er-chan1in1 en%ironment* It bene0its both the or1aniFation as =e(( as the emp(oyees*

#rainin1 a opte by us at 6n1e(De a opte a proce ura( trainin1 to e@ecute our 1i%en tas&s* 6 proce ure is a se?uence o0 steps that must be 0o((o=e to accomp(ish a tas&* #hese steps may be re?uire a certain (e%e( o0 &no=(e 1e or ha%e menta( or physica( s&i((s associate =ith them* 6 proce ure may be (inear5 that is5 pro1ress 0rom one step to the ne@t unti( the tas& is comp(ete 5 or a proce ure may ha%e one or more ecision points =here the stu ent =i(( ha%e to eci e =hich branch o0 the proce ure to 0o((o= ne@t* For short5 simp(e5 (inear proce ures5 the 0o((o=in1 metho e@p(anation an emonstration is recommen e " a* #he instructor emonstrates the entire proce ure an each step as it is one* o0

e@p(ains

b* #he instructor repeats the emonstration but has the trainee e@p(ain =hat actions are occurrin1* c* #he trainee emonstrates the proce ure an e@p(ains =hat he3she is oin1 at each step* * #he trainee emonstrates the proce ure a1ain so that the instructor can chec& 0or 0u(( mastery* #he instructor continues this Upro1ressi%e partsU approach unti( the entire proce ures is e@p(aine * It is sometimes appropriate to combine se%era( simp(er steps urin1 the trainin1 or a ress a more comp(e@ step in i%i ua((y be0ore combinin1 it =ith the entire trainin1*

51

For proce ures that ha%e ecision points5 an o%er%ie= o0 the entire proce ure is a 1oo startin1 point* 60ter that the proce ure shou( be bro&en up into se1ments 0or 0urther instruction* #he ecision points =ithin a proce ure are 1oo brea& points 0or the se1ments* 6n instructor can ta(& about the se?uence o0 steps prior a ecision point5 or the steps bet=een ecision points* ,epen in1 upon =hether the se1ments are simp(e or comp(e@5 the metho s out(ine abo%e can be use 0or each se1ment* #he in0ormation nee e to ma&e the ecisions a(so nee s to be co%ere at the appropriate point in the (esson* For more comp(e@ ecision points5 it is recommen e that a(( se1ments be e@p(aine an emonstrate be0ore iscussin1 the ecision points* It is easier 0or a person to ma&e a more comp(e@ ecision =hen they un erstan the steps that ma&e up the a(ternati%e branches o0 the proce ure*

#rainin1 .n er ,i00erent ,epartmentDe ha%e been traine un er 0o((o=in1 epartments.$Commodities >ommo ity mar&ets are mar&ets =here ra= or primary pro ucts are e@chan1e * #hese ra= commo ities are tra e on re1u(ate commo ities e@chan1es5 in =hich they are bou1ht an so( in stan ar iFe contracts* >ommo ities are easy to .n erstan an ha%e positi%e corre(ation =ith In0(ation* #he >ommo ity mar&et are 1(oba( in nature 5 hence (ess ris& 0or manipu(ation* ;%ery commo ity ha%e separate mar&et in Itse(0 an hence many such mar&et is simu(ate at one sin1(e screen* #he tren in one commo ity not necessari(y ha%e corre(ation =ith the tren o0 other* $istorica((y >ommo ities ha%e outper0orme the Stoc& Mar&et * ,i%ersi0ication throu1h a i00erent asset c(ass*
52

 Eo= Mar1ins C +V - 40V on(y

Commodities Segment wise 7MC; 9 NC"E;8 0eta s 2i s 'nerg! Agri#%omm# /o( >ru e pa(m Li( !rent cru e Pepper Si(%er Mustar See S=eet >ru e /uar see Stee( >astor oi( Furnace oi( Soy !ean >opper Jeera Winc >hi(i )ic&e( #urmeric Eea 2 6(uminum etc* *ofts >otton Su1ar /uar

53

Pro)lems !&ced &t t(e time o! tr&ining

#hou1h =e success0u((y e@ecute our tas&s in our trainin15 =e ha to 0ace 0e= prob(ems a(so an they are >(ient ,ata Sheet =as not up ate 5 most o0 them ha sho=n =ith =ron1 in0ormation* been

Most o0 the c(ients =ere not 1i%in1 appointments an some o0 them i not e%en ta(& on phone* Many o0 the time =hen =e =ent to meet the c(ients =ith =hom appointments =as 0i@e 5 a0ter reachin1 the c(ientJs p(ace they sai =e are not a%ai(ab(e an not e%en intereste * 6 bi1 prob(em =as transportation5 Most o0 the stu ents are out o0 the state an not ha%in1 %ehic(e5 De 0ace (ot many prob(ems to meet the c(ients at i00erent corners o0 6hme aba * 6t an1e( =hi(e ca((in1 to the customers5 it happene that =e i not ha%e su00icient phone a%ai(ab(e* #rainin1 room =as pre-occupie by 0u(( time joine emp(oyee* De 0ace this prob(em on(y 2 to 7 times* Gariab(e strate1y to e@ecute the tas&s Dasta1e o0 time because o0 a poor time mana1ement by 6n1e( 0resher

5!

Suggestions to Im%ro'e
#here shou( be a 0i@e strate1y 0or SIP trainin1* #eam =or& shou( be there* ,ata shou( be up to ate5 so that =e can sa%e the time* Participation shou( be there* De shou( uti(iFe e%ery secon * #he MIS Proce ure o0 company =as not proper*

55

Industr An&l sis

Industr An&l sis &t Indi&n le'el
./ Introduction
#here are t=o types o0 mar&et in In ia* MONE< MAR+ET Money mar&et is a mar&et 0or ebt securities that pay o00 in the short term usua((y (ess than one year5 0or e@amp(e the mar&et 0or 90ays treasury bi((s* #his mar&et encompasses the tra in1 an issuance o0 short term non e?uity ebt instruments inc(u in1 treasury bi((s5 commercia( papers5 ban&ers acceptance5 certi0icates o0 eposits5 etc* In other =or =e can a(so say that the Money Mar&et is basica((y concerne =ith the issue an tra in1 o0 securities =ith short term maturities or ?uasi-money instruments* #he Instruments tra e in the money-mar&et are #reasury !i((s5 >erti0icates o0 ,eposits (>,s)5 >ommercia( Paper (>Ps)5 !i((s o0 ;@chan1e an other such instruments o0 short-term maturities (i*e* not e@cee in1 4 year =ith re1ar to the ori1ina( maturity) CAPITAL MAR+ET

56

>apita( mar&et is a mar&et 0or (on1-term ebt an e?uity shares* In this mar&et5 the capita( 0un s comprisin1 o0 both e?uity an ebt are issue an tra e * #his a(so inc(u es pri%ate p(acement sources o0 ebt an e?uity as =e(( as or1aniFe mar&ets (i&e stoc& e@chan1es* >apita( mar&et can be i%i e into Primary an Secon ary Mar&ets* Prim&r M&rket In the primary mar&et5 securities are o00ere to pub(ic 0or subscription 0or the purpose o0 raisin1 capita( or 0un * Secon ary mar&et is an e?uity tra in1 a%enue in =hich a(rea y e@istin13pre- issue securities are tra e amon1st in%estors* Secon ary mar&et cou( be either auction or ea(er mar&et* Dhi(e stoc& e@chan1e is the part o0 an auction mar&et5 L%er-the->ounter (L#>) is a part o0 the ea(er mar&et* Secon ary Mar&et Secon ary Mar&et re0ers to a mar&et =here securities are tra e a0ter bein1 initia((y o00ere to the pub(ic in the primary mar&et an 3or (iste on the Stoc& ;@chan1e* Majority o0 the tra in1 is one in the secon ary mar&et* Secon ary mar&et comprises o0 e?uity mar&ets an the ebt mar&ets* For the 1enera( in%estor5 the secon ary mar&et pro%i es an e00icient p(at0orm 0or tra in1 o0 his securities* For the mana1ement o0 the company5 Secon ary e?uity mar&ets ser%e as a monitorin1 an contro( con uitZby 0aci(itatin1 %a(ue-enhancin1 contro( acti%ities5 enab(in1 imp(ementation o0 incenti%e-base mana1ement contracts5 an a11re1atin1 in0ormation (%ia price isco%ery) that 1ui es mana1ement ecisions*

"i!!erence )etween t(e %rim&r m&rket

m&rket &nd t(e second&r

In the primary mar&et5 securities are o00ere to pub(ic 0or subscription 0or the purpose o0 raisin1 capita( or 0un * Secon ary mar&et is an e?uity tra in1 a%enue in =hich a(rea y e@istin13pre- issue securities

5*

are tra e amon1st in%estors* Secon ary mar&et cou( be either auction or ea(er mar&et* Dhi(e stoc& e@chan1e is the part o0 an auction mar&et5 L%er-the->ounter (L#>) is a part o0 the ea(er mar&et*

Main 0inancia( pro ucts3instruments mar&et

ea(t in the secon ary

;?uity" #he o=nership interest in a company o0 ho( ers o0 its common an pre0erre stoc&* #he %arious &in s o0 e?uity shares are as 0o((o=s C ;?uity Shares" 6n e?uity share5 common(y re0erre to as or inary share a(so represents the 0orm o0 0ractiona( o=nership in =hich a shareho( er5 as a 0ractiona( o=ner5 un erta&es the ma@imum entrepreneuria( ris& associate =ith a business %enture* #he ho( ers o0 such shares are members o0 the company an ha%e %otin1 ri1hts* 6 company may issue such shares =ith i00erentia( ri1hts as to %otin15 payment o0 i%i en 5 etc* 'i1hts Issue3 'i1hts Shares" #he issue o0 ne= securities to e@istin1 shareho( ers at a ratio to those a(rea y he( * !onus Shares" Shares issue by the companies to their shareho( ers 0ree o0 cost by capita(iFation o0 accumu(ate reser%es 0rom the pro0its earne in the ear(ier years*
Pre0erre

Stoc&3 Pre0erence shares" L=ners o0 these &in o0 shares are entit(e to a 0i@e i%i en or i%i en ca(cu(ate at a 0i@e rate to be pai re1u(ar(y be0ore i%i en can be pai in respect o0 e?uity share* #hey a(so enjoy priority o%er the e?uity shareho( ers in payment o0 surp(us* !ut in the e%ent o0 (i?ui ation5 their c(aims ran& be(o= the c(aims o0 the companyJs cre itors5 bon ho( ers 3 ebenture ho( ers*

>umu(ati%e Pre0erence Shares" 6 type o0 pre0erence shares on =hich i%i en accumu(ates i0 remains unpai * 6(( arrears o0 pre0erence i%i en ha%e to be pai out be0ore payin1 i%i en on e?uity shares*

5-

 >umu(ati%e >on%ertib(e Pre0erence Shares" 6 type o0 pre0erence shares =here the i%i en payab(e on the same accumu(ates5 i0 not pai * 60ter a speci0ie ate5 these shares =i(( be con%erte into e?uity capita( o0 the company* Participatin1 Pre0erence Share" #he ri1ht o0 certain pre0erence shareho( ers to participate in pro0its a0ter a speci0ie 0i@e i%i en contracte 0or is pai * Participation ri1ht is (in&e =ith the ?uantum o0 i%i en pai on the e?uity shares o%er an abo%e a particu(ar speci0ie (e%e(* Security 'eceipts" Security receipt means a receipt or other security5 issue by a securitisation company or reconstruction company to any ?ua(i0ie institutiona( buyer pursuant to a scheme5 e%i encin1 the purchase or ac?uisition by the ho( er thereo05 o0 an un i%i e ri1ht5 tit(e or interest in the 0inancia( asset in%o(%e in securitisation*
/o%ernment securities (/-Secs)" #hese are so%erei1n (cre it

ris&-0ree) coupon bearin1 instruments =hich are issue by the 'eser%e !an& o0 In ia on beha(0 o0 /o%ernment o0 In ia5 in (ieu o0 the >entra( /o%ernmentRs mar&et borro=in1 pro1ramme* #hese securities ha%e a 0i@e coupon that is pai on speci0ic ates on ha(0-year(y basis* #hese securities are a%ai(ab(e in =i e ran1e o0 maturity ates5 0rom short ate ((ess than one year) to (on1 ate (upto t=enty years)* ,ebentures" !on s issue by a company bearin1 a 0i@e rate o0 interest usua((y payab(e ha(0 year(y on speci0ic ates an principa( amount repayab(e on particu(ar ate on re emption o0 the ebentures* ,ebentures are norma((y secure 3 char1e a1ainst the asset o0 the company in 0a%our o0 ebenture ho( er* !on " 6 ne1otiab(e certi0icate e%i encin1 in ebte ness* It is norma((y unsecure * 6 ebt security is 1enera((y issue by a company5 municipa(ity or 1o%ernment a1ency* 6 bon in%estor (en s money to the issuer an in e@chan1e5 the issuer promises to repay the (oan amount on a speci0ie maturity ate* #he issuer usua((y pays the bon ho( er perio ic interest payments

o%er the (i0e o0 the (oan* #he %arious types o0 !on s are as 0o((o=s Wero >oupon !on " !on issue at a iscount an repai at a 0ace %a(ue* )o perio ic interest is pai * #he i00erence bet=een the issue price an re emption price represents the return to the ho( er* #he buyer o0 these bon s recei%es on(y one payment5 at the maturity o0 the bon * >on%ertib(e !on " 6 bon 1i%in1 the in%estor the option to con%ert the bon into e?uity at a 0i@e con%ersion price* >ommercia( Paper" 6 short term promise to repay a 0i@e amount that is p(ace on the mar&et either irect(y or throu1h a specia(iFe interme iary* It is usua((y issue by companies =ith a hi1h cre it stan in1 in the 0orm o0 a promissory note re eemab(e at par to the ho( er on maturity an there0ore5 oesnJt re?uire any 1uarantee* >ommercia( paper is a money mar&et instrument issue norma((y 0or a tenure o0 90 ays* #reasury !i((s" Short-term (up to 94 ays) bearer iscount security issue by the /o%ernment as a means o0 0inancin1 its cash re?uirements*

2* S;!I
Security ;@chan1e !oar o0 In ia S;!I 2 Its 'o(e In Secon ary Mar&et #he S;!I is the re1u(atory authority estab(ishe un er Section 7 o0 S;!I 6ct 4992 to protect the interests o0 the in%estors in securities an to promote the e%e(opment o05 an to re1u(ate5 the securities mar&et an 0or matters connecte there=ith an inci enta( thereto* Securities an ;@chan1e !oar o0 In ia constitute un er the 'eso(ution o0 the /o%ernment o0 In ia in the ,epartment o0 ;conomic 600airs )o*4 (88)S;3-:5 ate the 42th ay o0 6pri(5 49--N

60

#he !oar sha(( consist o0 the 0o((o=in1 members5 name(y"4* 6 >hairman 2* #=o members 0rom amon1st the o00icia(s o0 the Ministry o0 the >entra( /o%ernment ea(in1 =ith Finance (an a ministration o0 the >ompanies 6ct5 49+:N) 2 o0 4978 7* Lne member 0rom amon1st the o00icia(s o0 [the 'eser%e !an& 8* Fi%e other members o0 =hom at (east three sha(( be the =ho(e-time members

2OM2A< STOC+ E;CHANGE O5 IN"IA LIMITE"

!ombay Stoc& ;@chan1e Eimite is the o( est stoc& e@chan1e in 6sia =ith a rich herita1e* Popu(ar(y &no=n as U!S;U5 it =as estab(ishe as U#he )ati%e Share 2 Stoc& !ro&ers 6ssociationU in 4-9+* It is the 0irst stoc& e@chan1e in the country to obtain permanent reco1nition in 49+: 0rom the /o%ernment o0 In ia un er the Securities >ontracts ('e1u(ation) 6ct5 49+:* #he ;@chan1eRs pi%ota( an pre-eminent ro(e in the e%e(opment o0 the In ian capita( mar&et is =i e(y reco1niFe an its in e@5 *'6*'75 is trac&e =or( =i e* ;ar(ier an 6ssociation o0 Persons (6LP)5 the ;@chan1e is no= a emutua(ise an corporati%e entity incorporate un er the pro%isions o0 the >ompanies 6ct5 49+:5 pursuant to the !S; (>orporatiFation an ,emutua(iFation) Scheme5 200+ noti0ie by the Securities an ;@chan1e !oar o0 In ia (S;!I)* Dith ha%e been percei%e an mana1e un emutua(iFation5 the tra in1 ri1hts an o=nership ri1hts e-(in&e e00ecti%e(y a ressin1 concerns re1ar in1 rea( con0(icts o0 interest* #he ;@chan1e is pro0essiona((y er the o%era(( irection o0 the !oar o0 ,irectors*

61

#he !oar comprises eminent pro0essiona(s5 representati%es o0 #ra in1 Members an the Mana1in1 ,irector o0 the ;@chan1e* #he !oar is inc(usi%e an is esi1ne to bene0it 0rom the participation o0 mar&et interme iaries* In terms o0 or1aniFation structure5 the !oar 0ormu(ates (ar1er po(icy issues an e@ercises o%er-a(( contro(* #he committees constitute by the !oar are broa -base * #he ay-to- ay operations o0 the ;@chan1e are mana1e by the Mana1in1 ,irector an a mana1ement team o0 pro0essiona(s* #he ;@chan1e has a nation-=i e reach =ith a presence in 849 cities an to=ns o0 In ia* #he systems an processes o0 the ;@chan1e are esi1ne to sa0e1uar mar&et inte1rity an enhance transparency in operations* ,urin1 the year 2008-200+5 the tra in1 %o(umes on the ;@chan1e sho=e robust 1ro=th* #he ;@chan1e pro%i es an e00icient an transparent mar&et 0or tra in1 in e?uity5 ebt instruments an eri%ati%es* #he !S;Rs Ln Eine #ra in1 System (!LE#) is a proprietary system o0 the ;@chan1e an is !S 9999-2-2002 certi0ie * #he sur%ei((ance an c(earin1 2 sett(ement 0unctions o0 the ;@chan1e are ISL 9004"2000 certi0ie * !ombay Stoc& ;@chan1e Eimite (!S;) =hich =as 0oun e in 4-9+ =ith si@ bro&ers has no= 1ro=n into a 1iant institution =ith o%er -98 re1istere !ro&er-Members sprea o%er 7-0 cities across the country* #o ay5 !S;Rs Di e 6rea )et=or& (D6)) connectin1 o%er -000 !S; Ln(ine #ra in1 (!LE#) System #ra er Dor& Stations (#DS) is one o0 the (ar1est o0 its &in in the country* Dith a %ie= to pro%i e e00icient an inte1rate ser%ices to the in%estin1 pub(ic throu1h the members an their associates in the operations pertainin1 to the ;@chan1e5 !ombay Stoc& ;@chan1e Eimite (!S;) has set up a uni?ue Member Ser%ices an ,e%e(opment to atten to the prob(ems o0 the !ro&er-Members* Member Ser%ices an ,e%e(opment ,epartment is the sin1(e point inter0ace 0or interactin1 =ith the ;@chan1e 6 ministration to a ress to MembersR issues* #he ,epartment ta&es care o0 %arious prob(ems an constraints 0ace by the Members in %arious pro ucts such as >ash5 ,eri%ati%es5 Internet #ra in15 an Processes such as
62

#ra in15 #echno(o1y5 >(earin1 an Sett(ement5 Sur%ei((ance an Inspection5 Membership5 #rainin15 >orporate In0ormation5 etc*

COMMO"IT< E;CHANGES
#here are three cate1ories" )>,;Q M>Q

*
)M>; 6 brie0 escription o0 commo ity e@chan1es are those =hich tra e in particu(ar commo ities5 ne1(ectin1 the tra e o0 securities5 stoc& in e@ 0utures an options etc* In the mi (e o0 49th century in the .nite States5 businessmen be1an or1aniFin1 mar&et 0orums to ma&e the buyin1 an se((in1 o0 commo ities easier* #hese centra( mar&etp(aces pro%i e a p(ace 0or buyers an se((ers to meet5 set ?ua(ity an ?uantity stan ar s5 an estab(ish ru(es o0 business* 61ricu(tura( commo ities =ere most(y tra e but as (on1 as there are buyers an se((ers5 any commo ity can be tra e * In 4-925 a 1roup o0 Manhattan airy merchants 1ot to1ether to brin1 chaotic con ition in )e= Tor& mar&et to a system in terms o0 stora1e5 pricin15 an trans0er o0 a1ricu(tura( pro ucts*

63

In 49775 urin1 the /reat ,epression5 the >ommo ity ;@chan1e5 Inc*5 =as estab(ishe in )e= Tor& throu1h the mer1er o0 0our sma(( e@chan1es C the )ationa( Meta( ;@chan1e5 the 'ubber ;@chan1e o0 )e= Tor&5 the )ationa( 'a= Si(& ;@chan1e5 an the )e= Tor& $i e ;@chan1e* #he major commo ity mar&ets are in the .nite Hin1 om an in the .S6* In In ia there are 2+ reco1niFe 0uture e@chan1es5 o0 =hich there are three nationa( (e%e( mu(ti-commo ity e@chan1es* 60ter a 1ap o0 a(most three eca es5 /o%ernment o0 In ia has a((o=e 0or=ar transactions in commo ities throu1h Ln(ine >ommo ity ;@chan1es5 a mo i0ication o0 tra itiona( business &no=n as 6 hat an Gay a Gyapar to 0aci(itate better ris& co%era1e an e(i%ery o0 commo ities* T(e t(ree e,c(&nges &re#

4* )ationa( >ommo ity 2 ,eri%ati%es ;@chan1e Eimite ()>,;Q) 2* Mu(ti >ommo ity ;@chan1e o0 In ia Eimite (M>Q) 7* )ationa( Mu(ti->ommo ity ;@chan1e o0 In ia Eimite ()M>;IE)
6(( the e@chan1es ha%e been set up un er o%era(( contro( o0 For=ar Mar&et >ommission (FM>) o0 /o%ernment o0 In ia* ./ N&tion&l Commodit 7NC"E;8 9 "eri'&ti'es E,c(&nge Limited

)ationa( >ommo ity 2 ,eri%ati%es ;@chan1e Eimite ()>,;Q) (ocate in Mumbai is a pub(ic (imite company incorporate on 6pri( 275 2007 un er the >ompanies 6ct5 49+: an ha commence its operations on ,ecember 4+5 2007*#his is the on(y commo ity e@chan1e in the country promote by nationa( (e%e( institutions* It is promote by I>I>I !an& Eimite 5 Ei0e Insurance >orporation o0 In ia (EI>)5 )ationa( !an& 0or 61ricu(ture an 'ura( ,e%e(opment ()6!6',) an )ationa( Stoc& ;@chan1e o0 In ia Eimite ()S;)*

6!

It is a pro0essiona((y mana1e on(ine mu(ti commo ity e@chan1e* )>,;Q is re1u(ate by For=ar Mar&et >ommission an is subjecte to %arious (a=s o0 the (an (i&e the >ompanies 6ct5 Stamp 6ct5 >ontracts 6ct5 For=ar >ommission ('e1u(ation) 6ct an %arious other (e1is(ations* 0/ Multi Commodit E,c(&nge o! Indi& Limited7MC;8

$ea ?uartere in Mumbai Mu(ti >ommo ity ;@chan1e o0 In ia Eimite (M>Q)5 is an in epen ent an e-mutu(ise e@chan1e =ith a permanent reco1nition 0rom /o%ernment o0 In ia* Hey shareho( ers o0 M>Q are Financia( #echno(o1ies (In ia) Et *5 State !an& o0 In ia5 .nion !an& o0 In ia5 >orporation !an&5 !an& o0 In ia an >anara !an&* M>Q 0aci(itates on(ine tra in15 c(earin1 an sett(ement operations 0or commo ity 0utures mar&ets across the country* M>Q starte o00erin1 tra e in )o%ember 2007 an has bui(t strate1ic a((iances =ith !ombay !u((ion 6ssociation5 !ombay Meta( ;@chan1e5 So(%ent ;@tractorsJ 6ssociation o0 In ia5 Pu(ses Importers 6ssociation an Shet&ari San1hatana*

=/ N&tion&l Multi$Commodit
7NMCEIL8

E,c(&nge o! Indi& Limited

)ationa( Mu(ti >ommo ity ;@chan1e o0 In ia Eimite ()M>;IE) is the 0irst e-mutua(Fe 5 ;(ectronic Mu(ti->ommo ity ;@chan1e in In ia* Ln 2+th Ju(y5 20045 it =as 1rante appro%a( by the /o%ernment to or1aniFe tra in1 in the e ib(e oi( comp(e@* It has operationa(ise 0rom )o%ember 2:5 2002* It is bein1 supporte by >entra( Darehousin1 >orporation Et *5 /ujarat State 61ricu(tura( Mar&etin1 !oar an )eptune L%erseas Eimite * It 1ot its reco1nition in Lctober 2000* >ommo ity e@chan1e in In ia p(ays an important ro(e =here the prices o0 any commo ity are not 0i@e 5 in an or1aniFe =ay* ;ar(ier on(y the buyer o0 pro uce an its se((er in the mar&et ju 1e upon the prices* Lthers ne%er ha a say*
65

#o ay5 commo ity e@chan1es are pure(y specu(ati%e in nature* !e0ore isco%erin1 the price5 they reach to the pro ucers5 en -users5 an e%en the retai( in%estors5 at a 1rassroots (e%e(* It brin1s a price transparency an ris& mana1ement in the %ita( mar&et* 6 bi1 i00erence bet=een a typica( auction5 =here a sin1(e auctioneer announces the bi s5 an the ;@chan1e is that peop(e are not on(y competin1 to buy but a(so to se((* !y ;@chan1e ru(es an by (a=5 no one can bi un er a hi1her bi 5 an no one can o00er to se(( hi1her than someone e(seJs (o=er o00er* #hat &eeps the mar&et as e00icient as possib(e5 an &eeps the tra ers on their toes to ma&e sure no one 1ets the purchase or sa(e be0ore they o*

NSE $ A New ideolog

#he broa objecti%e 0or =hich the e@chan1e =as set up has ma e it to p(ay a (ea in1 ro(e in en(ar1in1 the scope o0 mar&et re0orms in securities mar&et in In ia* ,urin1 (ast one eca e it has been p(ayin1 the ro(e o0 a cata(ytic a1ent in re0ormin1 the mar&ets in terms o0 mar&et microstructure an in e%o(%in1 the best mar&et practices &eepin1 in min the in%estors* #he ;@chan1e is set up on a e-mutua( Fe mo e( =herein the o=nership5 mana1ement an tra in1 ri1hts are in the han s o0 three i00erent sets o0 peop(e* #his has comp(ete(y e(iminate any con0(ict o0
66

interest* #his has he(pe )S; to a11ressi%e(y pursue po(icies an practices =ithin a pub(ic interest 0rame=or&* )S;Rs nation=i e5 automate tra in1 system has he(pe in shi0tin1 the tra in1 p(at0orm 0rom the tra in1 ha(( in the premises o0 the e@chan1e to the computer termina(s at the premises o0 the tra in1 members (ocate at i00erent 1eo1raphica( (ocations in the country an subse?uent(y to the persona( computers in the homes o0 in%estors an e%en to han he( portab(e e%ices 0or the mobi(e in%estors* It has been encoura1in1 corporation o0 membership in securities mar&et* It has a(so pro%e to be instrumenta( in usherin1 in scrip (ess tra in1 an pro%i in1 sett(ement 1uarantee 0or a(( tra es e@ecute on the ;@chan1e* Sett(ement ris&s ha%e a(so been e(iminate =ith )S;Rs inno%ati%e en ea%ors in the area o0 c(earin1 an sett(ement %iF*5 estab(ishment o0 the c(earin1 corporation ()S>>E)5 settin1 up a sett(ement 1uarantee 0un (S/F)5 re uction o0 sett(ement cyc(e5 imp(ementin1 on-(ine5 rea(-time ris& mana1ement systems5 emateria(iFation an e(ectronic trans0er o0 securities to name 0e= o0 them* 6s a conse?uence5 the mar&et to ay uses state-o0-the-art in0ormation techno(o1y to pro%i e an e00icient an transparent tra in15 c(earin1 an sett(ement mechanism* In or er to ta&e care o0 in%estors interest5 it has a(so create an in%estors protection 0un (IPF)5 that =ou( he(p in%estors =ho ha%e incurre 0inancia( (oss ue to e0au(t o0 bro&ers*

Owners(i% &nd M&n&gement t(e NSE #he ay-to- ay mana1ement o0 the ;@chan1e is e(e1ate to the Mana1in1 ,irector an >;L =ho is supporte by a team o0 pro0essiona( sta00* #here0ore5 thou1h the ro(e o0 tra in1 members at
6*

)S; is to the e@tent o0 pro%i in1 on(y tra in1 ser%ices to the in%estors5 the ;@chan1e in%o(%es tra in1 members in the process o0 consu(tation an participation in %ita( inputs to=ar s ecision ma&in1*

6-

M&rket Segments &nd Products )S; pro%i es an e(ectronic tra in1 p(at0orm 0or o0 a(( types o0 securities 0or in%estors un er one roo0 - ;?uity5 >orporate ,ebt5 >entra( an State /o%ernment Securities5 #-!i((s5 >ommercia( Paper5 >erti0icate o0 ,eposits (>,s)5 Darrants5 Mutua( Fun s units5 ;@chan1e #ra e Fun s5 ,eri%ati%es (i&e In e@ Futures5 In e@ Lptions5 Stoc& Futures5 Stoc& Lptions5 Futures on Interest 'ates etc*5 =hich ma&es it one o0 the 0e= e@chan1es in the =or( pro%i in1 tra in1 0aci(ity 0or a(( types o0 securities on a sin1(e e@chan1e* #he ;@chan1e pro%i es tra in1 in 7 i00erent se1ments %iF* Dho(esa(e ebt mar&et (D,M) >apita( mar&et (>M) se1ment an #he 0utures 2 options (F2L) se1ment*

=/ NSE 5AMIL<

NSCCL )ationa( Securities >(earin1 >orporation Et * ()S>>E)5 a =ho((y-o=ne subsi iary o0 )S;5 =as incorporate in 6u1ust 499+ an commence c(earin1 operations in 6pri( 499:* It =as the 0irst c(earin1 corporation in the country to pro%i e notation3sett(ement 1uarantee that re%o(utioniFe the entire concept o0 sett(ement system in In ia* It =as set up to brin1 an 9 sustain con0i ence in c(earin1 an sett(ement o0 securitiesN to promote an maintain short an consistent sett(ement cyc(esN to pro%i e counter-party ris& 1uarantee5 an to operate a ti1ht ris& containment system* It carries out the c(earin1 an sett(ement o0 the tra es e@ecute in the e?uities an eri%ati%es se1ments o0 the )S;*

*0

IISL In ia In e@ Ser%ices an Pro ucts Eimite (IISE)5 a joint %enture o0 )S; an >re it 'atin1 In0ormation Ser%ices o0 In ia Eimite (>'ISIE)5 =as set up in May 499- to pro%i e in ices an in e@ ser%ices* It has a consu(tin1 an (icensin1 a1reement =ith Stan ar an PoorRs (S2P)5 the =or( Rs (ea in1 pro%i er o0 in%est ab(e e?uity in ices5 0or co-bran in1 e?uity in ices* IISE poo(s the in e@ e%e(opment e00orts o0 )S; an >'ISIE into a coor inate =ho(e* It is In iaRs 0irst specia(iFe company =hich 0ocuses upon the in e@ as a core pro uct* It pro%i es a broa ran1e o0 pro ucts an pro0essiona( in e@ ser%ices* It maintains o%er 90 e?uity in ices comprisin1 broa base benchmar& in ices5 sectora( in ices an customiFe in ices* Many in%estment an ris& mana1ement pro ucts base on IISE in ices ha%e been e%e(ope in the recent past* #hese inc(u e in e@ base eri%ati%es on )S;5 a number o0 in e@ 0un s an In iaRs 0irst e@chan1e tra e 0un *

NS"L Prior to tra in1 in a emateria(iFe en%ironment5 sett(ement o0 tra es re?uire mo%in1 the securities physica((y 0rom the se((er to the u(timate buyer5 throu1h the se((erRs bro&er an buyerRs bro&er5 =hich in%o(%e (ot o0 time an the ris& o0 e(ay some=here a(on1 the chain*

NSE/IT )S;*I# Eimite 5 a 400V techno(o1y subsi iary o0 )S;5 =as incorporate in Lctober 4999 to pro%i e thrust to )S;Js techno(o1y e 1e5 concomitant =ith its o%era(( 1oa( o0 harnessin1 (atest techno(o1y 0or optimum business use* It pro%i es the securities in ustry =ith techno(o1y that ensures transparency an e00iciency in the tra in15 c(earin1 an ris&

*1

mana1ement systems* 6 itiona((y5 )S;*I# pro%i es consu(tancy ser%ices in the areas o0 ata =arehousin15 internet an business continuity p(ans* NC"E; )S; joine han =ith other 0inancia( institutions in In ia %iF*5 I>I>I !an&5 )6!6',5 EI>5 P)!5 >'ISIE5 >anara !an& an IFF>L to promote the )>,;Q =hich pro%i e a p(at0orm 0or mar&et participants to tra e in =i e spectrum o0 commo ity eri%ati%es* >urrent(y )>,;Q 0aci(itates tra in1 o0 79 a1ro base commo ities5 4 base meta( an 2 precious meta(*

>/ LISTING O5 SECURITIES

#he stoc&s5 bon s an other securities issue by issuers re?uire (istin1 0or pro%i in1 (i?ui ity to in%estors* Eistin1 means 0orma( a mission o0 a security to the tra in1 p(at0orm o0 the ;@chan1e* It pro%i es (i?ui ity to in%estors =ithout compromisin1 the nee o0 the issuer 0or capita( an ensures e00ecti%e monitorin1 o0 con uct o0 the issuer an tra in1 o0 the securities in the interest o0 in%estors* #he issuer =ishin1 to ha%e tra in1 pri%i(e1es 0or its securities satis0ies (istin1 re?uirements prescribe in the re(e%ant statutes an in the (istin1 re1u(ations o0 the ;@chan1e* It a(so a1rees to pay the (istin1 0ees an comp(y =ith (istin1 re?uirements on a continuous basis* 6(( the issuers =ho (ist their securities ha%e to satis0y the corporate 1o%ernance re?uirement 0rame by re1u(ators*

*2

*3

?/ MEM2ERSHIP A"MINISTRATION
#he tra in1 in )S; has a three tier structure-the tra in1 p(at0orm pro%i e by the ;@chan1e5 the bro&in1 an interme iary ser%ices an the in%estin1 community* #he tra in1 members ha%e been pro%i e e@c(usi%e ri1hts to tra e subject to their continuous(y 0u(0i((in1 the ob(i1ation un er the 'u(es5 'e1u(ations5 !ye(a=s5 >ircu(ars5 etc* o0 the ;@chan1e* #he tra in1 members are subject to its re1u(atory iscip(ine* 6ny entity can become a tra in1 member by comp(yin1 =ith the prescribe e(i1ibi(ity criteria an e@it by surren erin1 tra in1 membership* #here are no entry3e@it barriers to tra in1 membership*

@/ IN:ESTOR GRIE:ANCES
In%estors are the bac&bone o0 the securities mar&et* Protection o0 their interests is paramount 0or )S;* In 0urtherance o0 their interests5 )S; has put in p(ace systems to ensure a%ai(abi(ity o0 a e?uate5 up-to- ate an correct in0ormation to in%estors to enab(e them to ta&e in0orme ecisions* It ensures that critica( an pricesensiti%e in0ormation reachin1 the e@chan1e is ma e a%ai(ab(e to a(( c(asses o0 in%estor at the same point o0 time* Such price-sensiti%e in0ormation as bonus announcements5 mer1ers5 ne= (ine o0 business5 etc* recei%e 0rom the companies is isseminate to a(( the mar&et participants throu1h the net=or& o0 )S; termina(s a(( o%er In ia* 6ction is initiate by the ;@chan1e =hene%er any &in o0 price sensiti%e in0ormation is not pro%i e to the ;@chan1e at the prescribe time by companies (iste on the ;@chan1e*

*!

-* "EMATERIALISATION 9 REMATERIALISATION
"EMATERIALISATION Me&ning ,emateria(isation is the process by =hich physica( certi0icates o0 an in%estor are con%erte to an e?ui%a(ent number o0 securities in e(ectronic 0orm an cre ite into the in%estorRs account =ith his3her ,P* ,emateria(isin1 securities (physica( ho( in1 into e(ectronic ho( in1) In or er to emateria(ise physica( securities one has to 0i(( in a ,'F (,emat 'e?uest Form) =hich is a%ai(ab(e =ith the ,P an submit the same a(on1 =ith physica( certi0icates one =ishes to emateria(ise* Separate ,'F has to be 0i((e 0or each ISI) )umber* #he comp(ete process o0 emateria(isation is out(ine be(o=" Surren er certi0icates 0or emateria(isation to your epository participant* ,epository participant intimates ,epository o0 the re?uest throu1h the system* ,epository participant submits the certi0icates to the re1istrar o0 the Issuer >ompany* 'e1istrar con0irms the emateria(isation re?uest 0rom epository* 60ter emateria(isin1 the certi0icates5 'e1istrar up ates accounts an in0orms epository o0 the comp(etion o0 emateria(isation* ,epository up ates its accounts an in0orms the epository participant* ,epository participant up ates the emat account o0 the in%estor*

*5

REMATERIALISATION #he process o0 re-materia(isation is use to con%ert the e(ectronic ho( in1 into physica( ho( in1s* I0 one =ishes to 1et bac& his securities in the physica( 0orm one has to 0i(( in the ''F ('e-mat 'e?uest Form) an re?uest his ,P 0or re-materia(isation o0 the ba(ances in his securities account* #he process o0 re-materia(isation is out(ine be(o=" Lne ma&es a re?uest 0or emateria(isation* ,epository participant intimates epository o0 the re?uest throu1h the system* ,epository con0irms emateria(isation re?uest to the re1istrar* 'e1istrar up ates accounts an prints certi0icates* ,epository up ates accounts an o=n(oa s etai(s to epository participant* 'e1istrar ispatches certi0icates to in%estor*

A/ 2roker 9 Su)$2roker
2roker 6 bro&er is a member o0 a reco1niFe stoc& e@chan1e5 =ho is permitte to o tra es on the screen-base tra in1 system o0 i00erent stoc& e@chan1es* $e is enro((e as a member =ith the concerne e@chan1e an is re1istere =ith S;!I* Su) 2roker 6 sub bro&er is a person =ho is re1istere =ith S;!I as such an is a00i(iate to a member o0 a reco1niFe stoc& e@chan1e*

.B/ PA<$IN "A< AN" PA<$ OUT "A<

Pay in ay is the ay =hen the bro&ers sha(( ma&e payment or e(i%ery o0 securities to the e@chan1e* Pay out ay is the ay =hen the e@chan1e ma&es payment or e(i%ery o0 securities to the bro&er*
*6

Sett(ement cyc(e is on #K2 ro((in1 sett(ement basis =*e*0* 6pri( 045 2007* #he e@chan1es ha%e to ensure that the pay out o0 0un s an securities to the c(ients is one by the bro&er =ithin 28 hours o0 the payout* #he ;@chan1es =i(( ha%e to issue press re(ease imme iate(y a0ter pay out*

../ Auction
Dhat is an 6uctionI
#he ;@chan1e purchases the re?uisite ?uantity in the 6uction Mar&et an 1i%es them to the buyin1 tra in1 member* #he shorta1es are met throu1h auction process an the i00erence in price in icate in contract note an price recei%e throu1h auction is pai by member to the ;@chan1e5 =hich is then (iab(e to be reco%ere 0rom the c(ient*

**

M&*or Pl& ers o! t(e Industr

S/ S/ +&ntil&l Is(w&rl&l Securities P't/ Ltd/ 7s(&rek(&n/com8# Share&han5 In iaJs (ea in1 stoc& bro&er is the retai( arm o0 SSHI5 an o00ers you epository ser%ices an tra e e@ecution 0aci(ities 0or e?uities5 eri%ati%es an commo ities bac&e =ith in%estment a %ice tempere by eca es o0 bro&in1 e@perience* 6 research an ana(ysis team is constant(y =or&in1 to trac& per0ormance an tren s* #hatJs =hy Share&han has the tra in1 pro ucts5 =hich are ha%in1 one o0 the hi1hest success rates in the in ustry* Share&han is ha%in1 280 share shops in 440 citiesN the (ar1est chain o0 retai( share shops in In ia is o0 Share&han* In 0uture5 Share&han is p(annin1 to enter in Mutua( 0un s5 Insurance sector an ban&in1 sector to e@pan beyon the mar&et current(y co%ere by it* 6n it has starte MF (Mutua( Fun s) on priority basis but =ants to 1ro= in it*

ICICI Ce) Tr&de Ltd/ 7ICICIdirect/com8 I>I>I irect*com =as the 0irst entrant into e-bro&in1* I>I> irect*com pro%i es the 7-in-4 to the users =hich ties in their sa%in1 ban& account an their ,emat account to their bro&era1e account e(ectronica((y* #his inte1ration ensures that money is trans0erre to30rom their ban& account an the shares are trans0erre 0rom3to their ,emat account automatica((y =ithout =ritin1 any che?ues or trans0er instructions =hi(e carryin1 out their tra es in shares* I>I>I irect*com has the option o0 tra in1 in shares in cash5 mar1in or spot se1ments* 6n in%estor can a(so in%est in 48 Mutua( Fun s (Pru entia( I>I>I MF5 Fran&(in #emp(eton In ia MF5 6((iance >apita( MF5 JM MF5 !ir(a Sun Ei0e MF5 Sun aram MF5 IE2FS MF5
*-

Principa( MF5 $,F> MF5 Stan ar >hartere MF5 'e(iance >apita( MF5 Hota& Mahin ra MF5 #6#6 MF an ,SP M;''IEE ET)>$ MF) throu1h their tra in1 account*

>P&is&/com# +paisa is the tra e name o0 In ia In0o(ine Securities Pri%ate Eimite (+paisa)5 member o0 )ationa( Stoc& ;@chan1e an #he Stoc& ;@chan1e5 Mumbai* +paisa is a =ho((y o=ne subsi iary o0 In ia In0o(ine Et 5 In iaJs (ea in1 an most popu(ar 0inance an in%estment porta(* +paisa has emer1e as one o0 (ea in1 p(ayers in ebro&in1 space in In ia* #he companyJs bro&era1e is one o0 the (o=est in the in ustry* It a(so pro%i es the research on commo ities* In%estors can bene0it 0rom its ana(ysis an a %ice a%ai(ab(e at the c(ic& o0 the mouse* For those =ho pre0er to tra e the tra itiona( =ay5 In ia In0o(ine in%estor points are a%ai(ab(e across the country* In ia In0o(ine =as 0oun e by a 1roup o0 pro0essiona(s in 499+* Its institutiona( in%estors inc(u e Inte( >apita(5 one o0 the (ea in1 techno(o1y companies in the =or( promote by the .H 1o%ernment5 I>I>I5 #,6 an 'eeshanar* #he company o00ers a s(e= o0 pro ucts such as stoc& an eri%ati%es bro&in15 commo ities bro&in1 an mutua( 0un s*

+ot&k Securities Limited 7kot&kstreet/com8 Hota& Securities Et *5 a strate1ic joint %enture bet=een Hota& Mahin ra !an& an /o( man Sachs (ho( in1 2+V - one o0 the =or( Js (ea in1 in%estment ban&s an bro&era1e 0irms) is In iaJs (ea in1 stoc& bro&in1 house =ith a mar&et share o0 + - : V* Hota& Securities Et * has been the (ar1est in IPL istribution - It =as ran&e number Lne in 2007-08 as !oo& 'unnin1 Eea Mana1ers in pub(ic e?uity o00erin1s by P'IM; ,atabase* It has a(so =on the !est ;?uity $ouse 6=ar 0rom Finance 6sia - 6pri( 2008* Hota& Securities Et is a(so a epository participant =ith
*

)ationa( Securities ,epository Eimite ()S,E) an >entra( ,epository Ser%ices Eimite (>,SE) pro%i in1 ua( bene0it ser%ices =herein the in%estors can use the bro&era1e ser%ices o0 the company 0or e@ecutin1 the transactions an the epository ser%ices 0or sett(in1 them* #he company has 82 branches ser%icin1 aroun 45 005000 customers* Hota&street*com the on(ine i%ision o0 Hota& Securities Eimite o00ers Internet !ro&in1 ser%ices an a(so on(ine IPL an Mutua( Fun In%estments* Hota& Securities Eimite mana1es assets o%er 4900 crores un er Port0o(io Mana1ement Ser%ices (PMS) =hich is main(y to the hi1h en o0 the mar&et* Hota& Securities Eimite has ne=(y (aunche AHota& In0inityB as a istinct iscretionary Port0o(io Mana1ement Ser%ice =hich (oo&s into the mi (e en o0 the mar&et*

Indi& 2ulls In iabu((s is In iaRs (ea in1 retai( 0inancia( ser%ices company =ith 99 (ocations sprea across :8 cities* Its siFe an stron1 ba(ance sheet a((o=s pro%i in1 %arie pro ucts an ser%ices at %ery attracti%e prices5 our o%er 9+0 >(ient 'e(ationship Mana1ers are e icate to ser%in1 your uni?ue nee s* In iabu((s is (ea by a hi1h(y re1ar e mana1ement team that has in%este crores o0 rupees into a =or( c(ass In0rastructure that pro%i es rea(-time ser%ice 2 2839 access to a(( in0ormation an pro ucts* #he In iabu((s Pro0essiona( )et=or& o00ers rea(-time prices5 etai(e ata an ne=s5 inte((i1ent ana(ytics5 an e(ectronic tra in1 capabi(ities5 ri1ht at your 0in1er-tips* #his po=er0u( techno(o1y is comp(emente by our &no=(e 1eab(e an customer 0ocuse 'e(ationship Mana1ers* In iabu((s o00ers a 0u(( ran1e o0 0inancia( ser%ices an pro ucts ran1in1 0rom ;?uities5 ,eri%ati%es5 ,emat ser%ices an Insurance to enhance =ea(th an to achie%e the 0inancia( 1oa(s*

-0

Motil&l Osw&l Securities Ltd/ 7MOSt8#

Lne o0 the top-7 stoc&-bro&in1 houses in In ia5 =ith a ominant position in both institutiona( an retai( bro&in15 MLSt is amon1st the bestcapita(iFe 0irms in the bro&in1 in ustry in terms o0 net =orth* MLSt =as 0oun e in 49-9 as a sma(( sub-bro&in1 unit5 =ith just t=o peop(e runnin1 the sho=* Focus on customer-0irst-attitu e5 ethica( an transparent business practices5 respect 0or pro0essiona(ism5 research-base %a(ue in%estin1 an imp(ementation o0 cuttin1-e 1e techno(o1y ha%e enab(e it to b(ossom into a thousan -member team* #he institutiona( business unit has re(ationships =ith se%era( (ea in1 0orei1n institutiona( in%estors (FIIs) in the .S5 .H5 $on1 Hon1 an Sin1apore* In a recent me ia report MLSt =as rate as one o0 the top-40 bro&ers in terms o0 business transacte 0or FIIs* #he retai( business unit pro%i es e?uity in%estment so(utions to more than +05000 in%estors throu1h 290 out(ets spannin1 4+0 cities an 22 states* MLSt pro%i es 6 %ice-!ase !ro&in15 Port0o(io Mana1ement Ser%ices (PMS)5 ;-!ro&in1 Ser%ices5 ,epository Ser%ices5 >ommo ities #ra in15 an IPL an Mutua( Fun In%estment 6 %isory Ser%ices* Its Ga(ue PMS Scheme 1a%e a 4:0V post-ta@ return 0or the year en e March 2008* In 6sia Money !ro&ers Po(( 2007 MLSt has been rate as the !est ,omestic 'esearch $ouse- Me1a Fun s 5=hi(e in 2000 an 2002 it has been rate as the !est ,omestic ;?uity 'esearch $ouse an Secon best amon1st In ian !ro&era1e 0irms respecti%e(y*

H"5C Securities Ltd 7H"5Csec8 $,F>sec is a bran brou1ht to you by $,F> Securities Et 5 =hich has been promote by the $,F> !an& 2 $,F> =ith the objecti%e o0 pro%i in1 the i%erse customer base o0 the $,F> /roup an other in%estors a capabi(ity to transact in the Stoc& ;@chan1es 2 other 0inancia( mar&et transactions* #he ser%ices comprise on(ine buyin1 an se((in1 o0 e?uity shares on the )ationa( Stoc& ;@chan1e ()S;)* !uyin1 an se((in1 o0 se(ect corporate ebt an 1o%ernment securities on the )S; =ou( be intro uce in a subse?uent phase* In a 0e= months5 they =i(( a(so start o00erin1 the 0o((o=in1 on(ine tra in1 ser%ices on the !S; an )S;"
-1

4* !uyin1 an se((in1 o0 shares on the !S; 2* 6rbitra1e bet=een )S; 2 !S; 7* #ra in1 in ,eri%ati%es on the )S; 8* Mar1in tra in1 pro ucts* #hey are a(so p(annin1 to inc(u e buyin1 an se((in1 o0 Mutua( Fun s5 IPL subscriptions5 'i1ht issues5 purchase o0 Insurance po(icies an asset 0inancin1*

,i00erent types o0 company in%o(%e in on(ine tra in1" $,F> S;>.'I#I;S EIMI#;, I>I>I D;! #'6,; EIMI#;, HL#6H S#';;# EIMI#;, FIG; P6IS6 S;>.'I#I;S EIMI#;, I),I6!.EES S;>.'I#I;S EIMI#;, ML);TPL'; S;>.'I#I;S EIMI#;, S$6'; H$6) S;>.'I#I;S EIMI#;, /;LJI# S;>.'I#I;S L#$;'S*

>PAISA/COM #ra e in !S;5)S; #ra e in mu(ticommo ity e@chan1e #ra e in nationa( commo ity e@chan1e 6ccess to research an technica( ana(ysis G-S6#5 internet connecti%ity Ln(ine bac& o00ice5 so0t=are 2 support Eibera( eposit5 mar1in 2 e@posure terms

+OTA+ STREET/COM

-2

;asy e?uities ;asy mutua( 0un ,eri%ati%es 'esearch on sms Mar1in 0inance >a(( 2 tra e ;asy IPL o%er phones

SHARE+HAN/COM >(assic account #ra in1 on )S; Spee tra e Spee tra e p(us Sin1(e screen tra in1 termina( 'ea(-time streamin1 ?uotes Ei%e tic-by-tic intra- ay chartin1 Instant or er3tra e con0irmations in the same =in o= $ot &eys simi(ar to a bro&erJs termina( !ac&-up 0aci(ity to p(ace tra es on irect phone (ines IN"IA2ULLS/COM #ra e in e?uity #ra in1 throu1h termina( #ra e in eri%ati%es
-3

 !ac&-up 0aci(ity to p(ace tra es on irect phone (ines Spee tra e p(us L00(ine support throu1h messen1er 6ccess research an technica( research L=n transaction en1ine $i1h transaction spee H"5C SECURITIES/COM #ra in1 on )S; Mutua( 0un Ln(ine bac& o00ice5 so0t=are 2 support Ei%e ?uotes up ate system
Market share of online trading portals at present
Indiabulls 10% 3% 5% 10% 20% 5paisa.com Moneypore.com Hdfcsec.com 10% 10% 3% ICICIDirect.com ota!street.com I"#$% %&are!&an.com ot&ers 29%

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SCOT An&l sis

Introduction SDL# 6na(ysis is a strate1ic p(annin1 metho use to e%a(uate the Stren1ths5 Dea&nesses5 Lpportunities5 an #hreats in%o(%e in a project or in a business %enture* It in%o(%es speci0yin1 the objecti%e o0 the business %enture or project an i enti0yin1 the interna( an e@terna( 0actors that are 0a%orab(e an un0a%orab(e to achie%in1 that objecti%e* 6 SDL# ana(ysis must 0irst start =ith e0inin1 a esire en state or objecti%e* 6 SDL# ana(ysis may be incorporate into the strate1ic p(annin1 mo e(* 6n e@amp(e o0 a strate1ic p(annin1 techni?ue that incorporates an objecti%e- ri%en SDL# ana(ysis is Strate1ic >reati%e 6na(ysis (S>6))* Strate1ic P(annin15 inc(u in1 SDL# an S>6) ana(ysis5 has been the subject o0 much research*

-5

 Stren1ths" attributes o0 the person or company that are he(p0u( to achie%in1 the objecti%e* Dea&nesses" attributes o0 the person or company that are harm0u( to achie%in1 the objecti%e* Lpportunities" e&terna con itions that are he(p0u( to achie%in1 the objecti%e* #hreats" e&terna con itions =hich cou( o ama1e to the businessRs per0ormance*

I enti0ication o0 SDL# is essentia( because subse?uent steps in the process o0 p(annin1 0or achie%ement o0 the se(ecte objecti%e may be eri%e 0rom the SDL#* First5 the ecision ma&ers ha%e to etermine =hether the objecti%e is attainab(e5 1i%en the SDL#* I0 the objecti%e is )L# attainab(e a i00erent objecti%e must be se(ecte an the process repeate * #he SDL# ana(ysis is o0ten use in aca emia to hi1h(i1ht an i enti0y stren1ths5 =ea&nesses5 opportunities an threats* It is particu(ar(y he(p0u( in i enti0yin1 areas 0or e%e(opment*

Use of SWOT Analysis #he use0u(ness o0 SDL# ana(ysis is not (imite to pro0itsee&in1 or1aniFations* SDL# ana(ysis may be use in any ecision-ma&in1 situation =hen a esire en -state (objecti%e) has been e0ine * ;@amp(es inc(u e" non-pro0it or1aniFations5 1o%ernmenta( units5 an in i%i ua(s* SDL# ana(ysis may a(so be use in pre-crisis p(annin1 an pre%enti%e crisis mana1ement* SDL# ana(ysis may a(so be use in creatin1 a recommen ation urin1 a %iabi(ity stu y*

-6

SWOT-landscape analysis

#he SDL#-(an scape 1rabs i00erent mana1eria( situations by %isua(iFin1 an 0oreseein1 the ynamic per0ormance o0 comparab(e objects accor in1 to 0in in1s by !ren an Hitts5 Eei0 ; %insson an #or !e in1 (2000)* >han1es in re(ati%e per0ormance are continuous(y i enti0ie * Projects (or other units o0 measurements) that cou( be potentia( ris& or opportunity objects are hi1h(i1hte * SDL#-(an scape a(so in icates =hich un er(yin1 stren1th3=ea&ness 0actors that ha%e ha or (i&e(y =i(( ha%e hi1hest in0(uence in the conte@t o0 %a(ue in use

SCOT An&l sis o! &ngel )roking ltd/

,urin1 this trainin1 at 6)/;E !'LHI)/ E#,5 =e ha come to &no= the Stren1ths Dea&nesses C Lpportunities C #hreats 0or the company an it is %ery use0u( 0or a company to ana(yFe them*

-*

#here0ore5 the SDL# ana(ysis is presente here an the su11estions 0or maintainin1 stren1ths an remo%in1 =ea&nesses are e@p(aine * Strengt(s" De((-maintaine in0rastructure* ,e icate 5 Inte((i1ent an Eoya( sta00* Ln-(ine #ra in1 pro ucts* Eo=est bro&era1e an other char1es =*r*t* >ompetitors* #he best in%estment a %ice correct up to 90-90 V throu1h e icate 'esearch an reports* Di e pro uct ran1e to enab(e the c(ients to choose the best a(ternati%e* Lne o0 the best ,Ps in In ia* 6 positi%e ima1e in the e@istin1 c(ients* Ear1e retai( customer base !est on(ine so0t=are L in =hich =ithin + secon mana1ement in0ormation system is ?uite 1oo compare to competitors as

--

Ce&knesses" Eess a=areness in the mar&et* #ime consumin1 process 0or account openin15 reso(%in1 the prob(ems o0 the customers5 etc* Ser%ice ?ua(ity is not maintaine accor in1(y ho= they are promote * >oncentrate more on $)I ($i1h )et-=orth In i%i ua() c(ient emp(oyee attrition rate is hi1h especia((y !*,*L* 2 ,ea(ers a(( branches are not =or&in1 in a synchroniFe =ay

O%%ortunities" Ear1e primary mar&et to sit as a boo& runner 0or the other companies just (i&e Hota& securities (t * that runs the boo&s o0 share ho( in1s 0or many companies S(ope o0 stoc& mar&et to=ar s e(i%ery base transactions* there are on(y 2 V to 7V peop(es are in%estin1 in share mar&et so hu1e opportunities are there
-

 Ear1e potentia( mar&et 0or e(i%ery an intra- ay transactions* Lpen interest o0 the peop(e to enter in stoc& mar&et 0or in%estin1* 6ttract the customers =ho are issatis0ie =ith other bro&ers 2 ,Ps* 6n in irect opportunity 1enerate by the mar&et 0rom its bu((ishness* T(re&ts" ,ecreasin1 rates o0 bro&era1e in the mar&et* Increasin1 competition a1ainst other bro&ers 2 ,Ps* Poor mar&etin1 acti%ities 0or ma&in1 the company &no=n amon1 the customers

6 threat o0 (oosin1 c(ients 0or any &in o0 =ea&ness o0 the company* In irect threat 0rom instab(e stoc& mar&et5 i*e*5 (o=3no pro0it o0 Share&hanJs c(ients =ou( bro&er3,P* (ea them to 1o 0or other

Past Performance of Angel Broking Ltd

0

 ;une< 200 )ugust< 200-

=Major 5olu%e ,river> for 200* Crossed 5000000 $rading )ccounts

(ove%ber< 200* =Major 5olu%e ,river> for 200* March< 200* ,ece%ber< 2006 October< 2006 1e&te%ber 2006 ;uly< 2006 March< 2006 October< 2005 Crossed 2000000 $rading )ccounts Created 2500 3usiness )ssociates =Major 5olu%e ,river> for 2006 "aunched Mutual /und and I.O 3usiness "aunched the .M1 /unction Crossed 100000 $rading )ccount =Major 5olu%e ,river> for 2005

1e&te%ber< 200! "aunched Online $rading .latfor% )&ril< 200! )&ril< 2003 Initiated Co%%odities 3ro?ing ,ivision /irst .ublish Research Re&ort

(ove%ber< 2002 )ngel>s /irst Investor 1e%inar March< 2002 (ove%ber< 1 ,ece%ber< 1 ,evelo&ed 2eb@4nabled 3ac? Office 1oft#are - )ngel Ca&ital ' ,ebt Mar?et "td. Incor&orated * )ngel 3ro?ing "td. Incor&orated

Products 9 Ser'ices
1

Lur intensi%e research process In ustry =ise specia(iFe team !ottom-up approach" I enti0yin1 un er %a(ue soun mana1ement stoc& =ith

#op - o=n 6pproach" i enti0yin1 promisin1 sector 2 then companies =ith 1oo %a(uations >ompany %isits an interaction =ith top 2 secon (ine mana1er #horou1h ana(ysis o0 companyJs 0inancia( per0ormance 2 in ustry tren s ata 5 promise %s

;stimates 0or 0uture yearsJ earnin1s base on in ustry tren s 2 company business p(ans Lur 'esearch 2 6 %isory Pro ucts Mar&et out(oo& Pro%i es price-sensiti%e in0ormation just be0ore openin1 be(( an ana(ysis its impact on the mar&et in terms o0 "
2

 Hey corporate e%e(opment Po(icy announcement /eo-po(itica( ne=s 2 %ie=s #echnica( 6na(ysis 6na(ysis tra in1 patterns an a %ie= on the mar&et position o0 &ey stoc&s3sectors 0or the ne@t tra in1 session Short term (4-+ ays) 2 me ium term (40-20 ays) %ie=s #rac&s in i%i ua( scrip5 the sense@ 2 )i0ty 2 other in ices ,eri%ati%es ana(ysis report FII acti%ity in the F2L Se1ment >han1e in open mar&et Put ca(( ratio >ost o0 carryin1 cost In e@- base eri%ati%e pro ucts

E$2roking
E-broking
Unique Online T rading products customized to suit different Investment / T rading needs

Angel Investor Angel Trade Angel Diet Angel Anywhere

.ni?ue Ln(ine #ra in1 Pro ucts >ustomiFe in%estment3#ra in1 nee s

to suit

i00erent

Angel In'estor .ser-0rien (y bro=ser 0or in%estors ;asy on(ine tra in1 p(at0orm Dor&s in pro@y an 0ire=a(( system set up Inte1rate !ac& o00ice" 6ccess account in0ormation C anytime5 any=here Streamin1 ?uotes 'e0resh static rates =hen re?uire Mu(tip(e e@chan1es on sin1(e screen Ln(ine 0un trans0er 0aci(ity Angel Tr&de .ser-0rien (y bro=ser-base on(ine tra in1 p(at0orm* Streamin1 ?uotes >an be use in pro@y as =e(( as 0ire=a(( en%ironments* 6 %anta1e to access your account 0rom any=here* Angel "iet 6pp(ication-base p(at0orm 0or ay tra ers $i-spee tra in1 termina( on your es&top Streamin1 ?uotes 0or rea( time rate up ates Mu(tip(e e@chan1es on sin1(e screen Ln(ine 0un trans0er 0aci(ity Inte1rate !ac& o00ice" 6ccess account in0ormation C anytime5 any=here Angel An w(ere
!

 6pp(ication-base p(at0orm 0or ay tra ers #ra in1 base on historica( charts an technica( too(s Streamin1 ?uotes 0or rea( time rate up ates Ln(ine 0un trans0er 0aci(ity Inte1rate !ac& o00ice" 6ccess account in0ormation C anytime5 any=here 2&ck$O!!ice 2n ine c ient detai s inc udes Ee 1er !a(ance >ash ,eposits =ith 6n1e( Securities $o( in1s >har1es (e%ie 3Pai in the c(ientJs account East auction3c(ose-outs o00ere ,P $o( in1 0or the (ast 7 transactions

Port!olio M&n&gement Ser'ices Mana1e by our prominent Fun Mana1er =ho are re1u(ar(y 0etche by #G me ia 0or their %ie=s on stoc&s .n erstan in1 c(ientJs ris& 2 return pro0i(e L00erin1 the ri1ht b(en o0 sector an stoc& e@posures /i%in1 e icate in%estement 6 %isors /i%in1 a choice o0 i00erent schemes to suit e%ery in i%i ua( in%estor pre0erences >aterin1 to in i%i ua(s5 $.Fs5 >orporate5 )'Is5 #rusts

Angel Currenc 5uture >omprehensi%e >o%era1e on currencies 'eports co%erin1 in- epth 0un amenta(s o0 the currencies Eatest economics ata re(eases =ith their (i&e(y impact5 a(on1 =ith A#echnica( Ee%e(sB >omprehensi%e reports on currencies i ea((y suite in%estors 3 #ra er 0or any

"e%ositor Ser'ices )o physica( instruction re?uire 0or the c(ientJs se(( ob(i1ations Eo=est transaction char1es in the country 6cceptances 2 e@ecution o0 instruction on 0a@ 6 combine statement month(y A!i(( #ransaction* $o( in1 cum Ee 1er

;00icient P(e 1e Mechanism

Angel gold Persona(iFe in%estment a %isory Port0o(io 'estructurin1 an continuous monitorin1 /ui ance e@perience research team Perio ic /roup meetin1 =ith in%estors *

Pre$P&id 2roker&ge Wero 6ccount openin1 char1es 6ttracti%e !ro&era1e rates Free ,P 6M> 0or 4 year 6ssure 1i0ts =orth thousan s =ith e%ery account ;asy an 0ast rechar1e Free Financia( in%estment 6pp(ication =ith e%ery account

S%eci&li-ed Products
M&rgin 5unding 0aci(ity to a((o= c(ients to ta&e hi1her e@poser instant (i?ui ity 0or c(ients mar1in is eposite in cash as =e(( as co((atera(s ;nab(in1 c(ients 1rab ;arnin1 Lpportunity*

:&lue Added Ser'ices 6,1 *ervices )'I Ser%ices ,es& 0or persona(iFe 6ssistance* ,e icate o00(ine ;?uity ,ea(in1 ,es&* Ln(ine ;?uity ea(in1 ,es& )'I In%estment 6 %isory ,es&
*

 P6) >ar 6ssistance Support 0or ban&in1-PIS 6ccounts Port0o(io Mana1ement5 Mutua( Fun 5 IPL ser%ices*

Insur&nce Angel O!!ers Pro ucts to meet the objecti%es o0 ris& co%era1e *in%estment an ta@ p(annin1* 6ssessment o0 your insurance nee s a0ter proper ris& pro0i(in1* 6 =i e array o0 in i%i ua( (i0e co%er p(ans to meet your protection5 sa%in1s5an retirement nee s*

Mutu&l !unds 6n inte1rate p(at0orm 0or on(ine 3o00(ine mutua( 0un s #ie-up =ith a(( major 6M>S ,e icate 'e(ationship Mana1er 0or !usiness Partners ;@c(usi%e MF 'esearch 'eports by an1e({ ai(y5=ee&(y5month(y5mutua( 0un reports}* Lo&nsD IPO &nd !i,ed "e%osits Pro ucts istribute by an1e( inc(u e .nsecure (oans

 persona(3business (oans a1ainst properties Secure (oans* home (oans3(oan a1ainst properties (oan a1ainst securities31o( 5 IPL-,istribution 5 6 %isory an he(p es& 5 Fi@e ,eposits 5)$! term ,eposits* Risk m&n&gement &t &ngel 6n e00icient ris& mana1ement system =hich enab(es the customer to e00ecti%e(y monitor the positions* #he c(ient report can be accesse 0rom any p(ace an 1i%es cate1orica( isp(ay o0 the (e 1er ba(ance eposits an ho( in1s*

"&t& An&l sis

#he 0irst an simp(est ana(ytica( step in ata ana(ysis is to escribe the ata Z 0or e@amp(e5 summariFe its statistica( attributes (such as means an stan ar e%iations)5 %isua((y re%ie= it usin1 charts an 1raphs5 an (oo& at the istribution o0 %a(ues o0 the 0ie( s in your ata* !ut ata escription a(one cannot pro%i e an action p(an*

Tou must bui( a pre icti%e mo e( base on patterns etermine 0rom &no=n resu(ts5 then test that mo e( on resu(ts outsi e the ori1ina( samp(e* 6 1oo mo e( shou( ne%er be con0use =ith rea(ity (you &no= a roa map isnJt a per0ect representation o0 the actua( roa )5 but it can be a use0u( 1ui e to un erstan in1 your business* ,ata ana(ysis can be use 0or both c(assi0ication an re1ression prob(ems* In c(assi0ication prob(ems youJre pre ictin1 =hat cate1ory somethin1 =i(( 0a(( into C 0or e@amp(e5 =hether a person =i(( be a 1oo cre it ris& or not5 or =hich o0 se%era( o00ers someone is most (i&e(y to accept* In re1ression prob(ems youJre pre ictin1 a number such as the probabi(ity that a person =i(( respon to an o00er*

Indi&n 2roker&ge Industr

Introduction Dith the 0a(( in the turno%er in the ;?uity se1ment by o%er 70 per cent since 6pri(5 re%enue o0 bro&in1 houses ha%e ta&en a major hit* >ompare =ith the pre%ious 0e= ?uarters5 the net pro0its o0 many (ea in1 bro&in1 houses ha%e near(y ha(%e espite the re%enues ec(inin1 mar1ina((y* #he resu(ts poste by bro&in1 0irms ha%e been e@treme(y poor in (ine =ith the mar&et con itions5 ha%in1 reporte either a 0a(( in net pro0it or5 at best5 on(y a mar1ina( rise in their bottom (ine 0or the perio * #he =orst-hit seems to be the bro&in1 0irms =hich are 0acin1 cha((en1es in their ec(inin1 business apart 0rom strin1ent re(uctance o0 0inancia( institutions to (en them money 0or =or&in1 capita(* !ro&in1 0irms ha an e@ce((ent ra((y in the pre%ious 0isca( an thus ha e@tra%a1ant p(ans o0 increasin1 their 0ootho( across nation5 an some o0 them e%en 1(oba((y* Dith the current 0inancia( me(t o=n =or( =i e5 most o0 them ha%e not on(y put their e@pansion p(ans on ho( but a(so are s(o=in1 o=n in current businesses* #hese 0irms =ere on a 1ro=th spree5 a in1 branches an peop(e across cities* #he au1mentation =as a(so ri%en by the in0usion o0 0un s by the bi1 pri%ate e?uity an 0orei1n p(ayers =antin1 to in%est in these bro&in1 out0its* #he sma((er bro&in1 out0its too& a 1reater hit5 as they stru11(e to meet their mar1in re?uirements ue to (i?ui ity constraints* 'ecent(y5 tra in1 termina(s
100

o0 9+ bro&er members =ere eacti%ate in the F2L se1ment an 29 eacti%ations occurre in the cash se1ment* In September5 the termina(s o0 7: bro&er members =ere eacti%ate =hereas in 6u1ust it =as on(y 44* #here =ere --+ acti%e tra in1 members in the F2L se1ment an 9-8 in the cash se1ment on )S; in Lctober* #he mar&et scene appears b(ea& 0or the securities 0irms* Puite e@pecte 5 these ne1ati%e sentiments are re0(ectin1 in the stoc& prices o0 bro&in1 0irms* Most o0 them ha%e 0a((en by more than 9+V 0rom their hi1hs ear(y this year* 60ter ban&in1 stoc&s5 bro&in1 out0its ha%e 0ace the brunt in the current 0inancia( turmoi(* Dhen the macro con itions =ere 0ine5 in%ariab(y stoc& mar&ets i per0orm =e((* Simi(ar(y5 the o=ntren in the economy is a(so re0(ecte in the stoc& mar&et*

"eri'&ti'e Re%ort
0*97V5 =hi(e Mini0y 0utureJs open interest ecrease by 7*8-V5 as mar&et c(ose at 708:*9+ (e%e(s* X )i0ty January 0uture is tra in1 at premium o0 :*-+ points a1ainst premium o0 40*2+ points in pre%ious tra in1 session* Dhi(e February 0uture is tra in1 at premium o0 49*70 points* X P>'-LI is at the same (e%e(s o0 4*44* ,ue to bui( up in ca(( as =e(( as put options* X IG o0 at the money option is 80*7+V* $istorica( %o(ati(ity has re uce 0rom +:*9+V to ++*28V* X Stoc&s =hich are tra in1 at ecent positi%e cost o0 carry are '6J;S$;QPL5 FSE5 !I),6E6/'L5 IF>I an >$6M!EF;'# *

101

"&t& An&l sis o! Customers

,i00erent customers ha%e the i00erent objecti%es3purpose 0or openin1 the account in 6n1e( !ro&in1 Et *5 as per the sur%ey one by us is as 0o((o=" Lbjecti%e 0or 6\> openin1 >ommo ity In%estment IPL #ra in1 In%estment 2 #ra in1 In%estment #ra in1 2 IPL IPL 2 #ra in1 In%estment 2 IPL Lthers )o* o0 >ustomers 4 479 8+ 28+ +9 2: 74 9 79

102

5in&nci&l Restructuring
6n1e( !ro&in1 Et * pro%i es the ser%ice o0 'estructurin1* 6s per the sur%ey the chart is as 0o((o=s"
(00

Financia(

'00

&00

%00

$00

#00

.eries

"00

!00

00

0 Interested in )inancial *lanning/ *ortfolio +estructuring ,es -o Total

103

Limit&tions
,e0inition o0 per0ection i00ers 0rom in i%i ua(s to in i%i ua(s* )o matter ho= meticu(ous one is5 the stu y that is comp(ete(y base on responses 0rom a %ast %ariety o0 peop(e cannot be 0ree 0rom (imitations* #hou1h the present stu y aime to achie%e the abo%ementione objecti%es in 0u(( earnest an accuracy5 it =as hampere ue to certain (imitations* Some o0 the (imitations o0 this stu y may be summariFe as 0o((o=s" Se(ection o0 the peop(e =ho are un er consi eration as samp(e 0or the stu y may not be the best samp(e se(ecte * Samp(e siFe =as (imite the sur%ey* ue to the (imite perio a((ocate 0or

#he se(ection o0 peop(e to co%er the %arious types o0 commo ity tra in1 ran1in1 0rom a1ro pro ucts to ener1y an meta(s (i&e 1o( an si(%er =as te ious an time consumin1* /ettin1 accurate responses 0rom the respon ents ue to their inherent Prob(ems5 persona(ity traits an =as a %ery i00icu(t tas&* Some respon ents ha con%enience o0 time* Some o0 the area in =hich the sur%ey is carrie out =as %ery un Chy1ienic an o%er cro= e *
10!

moo

0(uctuations as per their

to be re-contacte

 Some ata o0 customer is not proper* Ei&e their contact number 2a ress*

Fin in1s
In are5 =hich =e =are 1i%en out o0 -00 c(ients =e ha%e most(y 0oun that they are not intereste in the 0inancia( port0o(io restructurin1* De 0oun 90*9V no intereste an 9*7V are intereste in the city* Most o0 the c(ients =hom5 =e met /o%ernment emp(oyees5 businessman5 $ote(s5 ma((s5 restaurants an chai=a(a a(so* Dhat about their intereste in tra in1* Most o0 the c(ients in%este in the IPL5 #ra in15 In%estment5 0uture an options an commo ity mar&ets* Lut o0 -00 Most o0 the c(ients Intereste in tra in1*

6=areness about an1e(s ne= ser%ices

Ln(ine tra in1 Mar1in 0un in1 PMS 6)/;E /LE, P';P6I, !'LH;'6/; EIF; I)S.'6)>; (!I'E6 S.) EIF;) M.#.6E F.), FIQ;, ,;PLSI# !L),

)o* o0 respon ents

700 +0 400 70 20 20 200 +00 800

105

Suggestion"
From the abo%e chart =e can see that %arious customer are about on(ine tra in15 on the other han 0e= peop(e a=are about an1e( 1o( an its prepai bro&era1e ser%ices* >ompany shou( 1i%e 0ocus on on(ine customer an try to 1i%e more in0ormation about an1e( 1o( an prepai to these e@istin1 c(ients an create interest amon1 them to ta&e a %anta1e o0 these ne= ser%ices*

106

2I2LIOGRAPH< 2OO+
Mar&etin1 Mana1ement 'esearch Metho o(o1y $uman 'esource Pro uction an Lperation Phi((ip Hot(er Hooper 6s=athapa 6 am 2 6bert

M&g&-ine
Ga(ue Eine ;a1(e ;ye !usiness Dor( )S,E

10*

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===*6n1e(bro&in1*com ===*ss&i*com ===*bsein ia*com ===*nsein ia*com ===*=i&ipe ia*com ===*researchan mar&et*com ===*scrib *com ===*coo(a%enue*com ===*hin ubusinesson(ine*com ===*in%estope ia*com ===*moneybhai*com

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