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The project titled “comparative study of services provided by Religare securities ltd and other broking houses in Noida” has been carried out for “Religare securities limited.” There is growing competition between brokerage firms in post reform India. For investor it is always difficult to decide which brokerage firm to choose. Research was carried out to find which brokerage house people prefer and to figure out what people prefer while investing in stock market. Main purpose of investment is returns and liquidity, commodity market is less preferred by investors due to lack of awareness. The major findings of this study are that people are interested to invest in stock market but they lack knowledge. Through this report we were also able to understand, what are our Company‟s (Religare securities Ltd.) positive and strong points, on the basis of which we come to know what can be the basis of pitching to a potential client. We also gave suggestions to the company, what improvement can be done to our product.
I hope Religare securities Ltd. will recognize this as well as take more references from this project report.
Chapter – 1 INTRODUCTION
1.1 About the company:Religare is a diversified financial services group of India offering a multitude of investment options. The diverse bouquet of financial services which Religare offers can be broadly clubbed across three key verticals - Retail, Institutional and Wealth spectrums. The services extend from asset management, Life Insurance, wealth management to equity broking, commodity broking, investment banking, lending services, private equity and venture capital. Religare has also ventured into the alternative investments sphere through its holistic arts initiative and Film fund. With a view to expand, diversify and introduce offerings benchmarked against global best practices, Religare operates in the life insurance space under 'Aegon Religare Life Insurance Company Limited' and wealth management under the brand name 'Religare Macquarie Private Wealth'
Religare is a Latin word that translates as 'to bind together'. This name has been chosen to reflect the integrated nature of the financial services the company offers.
The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is considered good fortune to find a four-leaf clover as there is only
one four-leaf clover for every 10,000 three-leaf clovers found. For us, each leaf of the clover has a special meaning. It is a symbol of Hope. Trust. Care. Good Fortune. For the world, it is the symbol of Religare. The first leaf of the clover represents Hope. The aspirations to succeed. The dream of becoming. Of new possibilities. It is the beginning of every step and the foundation on which a person reaches for the stars. The second leaf of the clover represents Trust. The ability to place one‟s own faith in another. To have a relationship as partners in a team. To accomplish a given goal with the balance that brings satisfaction to all, not in the binding, but in the bond that is built. The third leaf of the clover represents Care. The secret ingredient that is the cement in every relationship. The truth of feeling that underlines sincerity and the triumph of diligence in every aspect. From it springs true warmth of service and the ability to adapt to evolving environments with consideration to all. The fourth and final leaf of the clover represents Good Fortune. Signifying that rare ability to meld opportunity and planning with circumstance to generate those often looked for remunerative moments of success. Hope. Trust. Care. Good Fortune. All elements perfectly combine in the emblematic and rare, four-leaf clover to visually symbolize the values that bind together and form the core of the Religare vision.
Accent usage The diacritical tilde mark ( ˜ ) over the letter A in the Religare typeface indicates a palatal emphasis sound of the letter A.
1.2 Vision and mission
Vision - To build Religare as a globally trusted brand in the financial services domain and present it as the „Investment Gateway of India'. Mission - Providing complete financial care driven by the core values of diligence and transparency
1.3 Group structure:
Malvinder Mohan Singh Non Executive Chairman Mr. J. Bhalla Alternate to Mr. Harpal Singh Non Executive Director Mr. Deepak Ramchand Sabnani Independent Director Mr. S. Sunil Godhwani Managing Director & Group CEO Mr. Shivinder Mohan Singh Non Executive Director Mr. W. G. R. Religare Enterprises Limited Mr. Anil Saxena Group Chief Finance Officer. Shetty Alternate to Mr. W. Sunita Naidoo Independent Director Mr. Shachindra Nath Group Chief Operating Officer. Deepak Sabnani 6 . Sunil Godhwani CEO & Managing Director. J. Balani Independent Director Ms. P. Religare Enterprises Limited Mr. Religare Enterprises Limited Board of Directors .1.4 Religare management team:Central Leadership Team Mr. K. Padam Bahl Independent Director Mr.Religare Enterprises Limited Mr. Balani Capt.
1 7 .1.5 ORGANIZATIONAL STRUCTURE Fig1.
this means lower risk. * Except fixed administrative charges. For you.1. While we offer you the services of a dedicated Relationship Manager who is at your service 24x7. higher dependability and unhindered continuity. No hidden profits. Furthermore. No charge till you profit*. we do not depend on individual expertise alone. This means that your portfolio is not churned needlessly. Using more broking firms gives us access to a larger number of reports and analysis. Daily disclosures. until your investments start showing profit. You can pinpoint where your money is being invested. Religare Portfolio Management Services gives you daily updates on your investment. No experts. transparent & process driven approach and ensure that your money gets the care it deserves. PMS brought to you by Religare with its solid reputation of an ethical and scientific approach to financial management. enabling us to make better. only expertise. 24x7.6 BENEFITS OF RELIGARE We serve you with a diligent.So sure are we of our approach to Portfolio Management that we do not charge you for our services. We ensure that a part of the broking at Religare Portfolio Management Services is through external broking houses. 8 . you are not limited by a particular individual‟s investment style. more informed decisions. your portfolio is customized to suit your investment objectives. Moreover. With customized investment options Religare Portfolio Management Services invites you to invest across five broad portfolios to suit your investment needs. instead of waiting till the end of the month to keep track.
1. Study of services provided Religare securities ltd. delegated brokerage management is arguably one of the most important agency relationships intervening in the economy. The following are the main objective of the project 1.8 Objectives of the Study The project includes a detail study of portfolio management in share market. The work includes the various services provided by Religare and other broking houses such as 9 . 2. Comparison of services provided by Religare and other broking houses in noida.1.7 Significance of Study In most industrialized countries. but through a financial intermediary. Study of services provided by other broking house in Noida. 4. a substantial part of financial wealth is not managed directly by savers. Concluding and recommending procedures to improve upon the trading options. 3. which implies the existence of an agency contract between the investor (the principal) and a broker or portfolio manager (the agent). 1.9 Scope of Study The work was carried out in the broking offices in Noida region those provides similar services as Religare. Therefore. with a possible impact on financial market and economic developments at a macro level.
HDFC Securities India bulls Kotak Securities Reliance Money Share khan Securities SMC securities ltd. Anand Rathi Securities Angel Broking 10 .(a)E-broking (b)Investment advisory services (c)Depository participant services (d)PMS (portfolio management services) (e)Fundamental services Major Players in the Region which I include in my study Religare Securities ICICI Direct India Infoline Security Pvt. Ltd.
Chapter – 2 THEORETICAL FRAMEWORK AND REVIEW OF LITERATURE 11 .
This is part of the financial market where enterprises issue their new shares and bonds. There are two ways in which investors gets share from market: Primary market: markets in which new securities are issued are known as primary market. It is characterized by being the only moment when the enterprise received money in exchange for selling its financial assets. Such exchanges may be a corporation or mutual organization which specializes in the business of introducing the sellers with the buyers of stocks and securities. A share is issued by a company or can be purchased from the stock market. they are initially offered in the primary market. Secondary Market: Market in which existing securities are dealt is known as secondary market. The Stock Market is an invisible market that trades in stocks of various companies belonging to both the public and private sectors. 12 . The Indian Stock Market is often referred to as the Share Market since it deals primarily with shares of various companies. The market where securities are traded after.1 Indian Stock Market Share or stock is a document issued by a company. Most trading is done in the secondary market. Share market where dealing of securities is done is known as share market. which entitles its holder to be one of the owners of the company. A Stock Exchange is a place where the stocks are listed and traded.Basics of Indian Stock Market 2.
The chief function of the Stock Market of India is to help raise money as capital for the growth and expansion of various private and public sector enterprises. Besides. In terms of volume of transactions.The Indian Stock Market in India comprises of two main stock exchanges: ● Bombay Stock Exchange (BSE) ● National Stock Exchange (NSE) BSE The Bombay Stock Exchange (BSE) was established in 1875. 13 . The popular acronym for Stock Index is Sensitive index or sensex. who is subjected to sudden dearth of funds. NSE The National Stock Exchange of India Ltd. Moreover. Hence a person. it is ranked among the top five stock exchanges in the world.The BSE India Stock Exchange serves as the most important for companies to raise money. The BSE Sensex. set up in the year 1993. can immediately sell his shares for cash in India Stock Market. is today the largest stock exchange in India and a preferred exchange for trading in equity. the Stock Market of India provides able assistance to the individual investors through daily updates on current position of the stocks of the respective companies that are enlisted in the Stock Index in which the movement of prices in a section of the market are captured in price indices. (NSE). also known as “BSE 30” is a widely used market index not only in India but across Asia. the liquidity provided by the exchange enables the investors to sell securities owned by them easily and quickly.
NSE provides trading in various derivative products such as index futures. NSE has set up a sophisticated electronic trading. stock options and interest rate futures. In addition to these organizations there are other organizations highlighting on the share trading in the Indian Stock Market are: ● Securities and Exchange Board of India (SEBI) ● NSDL ● CDSL The Nifty and the Sensex are the indicators which are the parameters denoting the prices of the stocks of the major companies of the NSE and the BSE respectively. stock futures. Besides this. 14 . The standards set by NSE in terms of market practices. index options. The high level of information dissemination through the on-line system has helped in integrating retail investors across the nation. NSE provides a screen-based automated trading system with a high degree of transparency and equal access to investors irrespective of geographical location. NSE has around 850 trading members and provides trading in equity shares and debt securities. clearing and settlement platform and its infrastructure serves as a role model for the securities industry. The exchange has a network in more than 350 cities and its trading members are connected to the central servers of the exchange in Mumbai through a sophisticated telecommunication network comprising of over 2500 VSATs. products and technology have become industry benchmarks and are being replicated by many other market participants.debt and derivatives instruments by investors.
Stock Broking Sector in India The Indian broking industry is one of the oldest trading industries that has been around even before the establishment of the BSE in 1875. Despite passing through a number of changes in the post liberalization period. small saving instruments with post offices. Financial assets such as fixed deposits with banks. gold/jewellery. In this section our purpose will be of gaining a deeper understanding about the role of the Indian stock broking industry in the country‟s economy. debentures etc.2 INVESTMENT BASICS What are various options available for investment? One may invest in: Physical assets like real estate. insurance/provident/pension fund etc. commodities etc. 15 . the industry has found its way towards sustainable growth. or securities market related instruments like shares. bonds. 2. Which are the securities one can invest in? ● Shares ● Government Securities ● Derivative products ● Commodity ● Mutual Funds etc.
money market/liquid funds and fixed deposits with banks may be considered as short-term financial investment options: Savings Bank Account It is often the first banking product people use. Fixed Deposits with banks are for investors with low risk appetite. money market funds are primarily oriented towards protecting your capital and then.What are various Short-term financial options available for investment? Broadly speaking. making them only marginally better than fixed deposits. Money Market or Liquid Funds These are a specialized form of mutual funds that invest in extremely short-term fixed income instruments and thereby provide easy liquidity.). and may be considered for 6-12 months investment period as normally What are various Long-term financial options available for investment? 16 . which offers low interest (4%-5% p.a. aim to maximize returns Fixed Deposits with Banks These are also referred to as term deposits and minimum investment period for bank FDs is 30 days. savings bank account. Unlike most mutual funds.
semi10 annually or annually. A bond is generally a promise to repay the principal along with a fixed rate of interest on a specified date. Bonds: It is a fixed income (debt) instrument issued for a period of more than one year with the purpose of raising capital. 17 . corporations and similar institutions sell bonds. Public Provident Fund: A PPF account can be opened through a nationalized bank at anytime during the year and is open all through the year for depositing money. They can also be cumulative fixed deposits where the entire principal along with the interest is paid at the end of the loan period.Post Office Savings Schemes. which can be availed through any post office. Tax benefits can be availed for the amount invested and interest accrued is taxfree. The central or state government. Mutual Funds etc. quarterly. Post Office Savings: Post Office Monthly Income Scheme is a low risk saving instrument. Company Fixed Deposits: These are short-term (six months) to medium-term (three to five years) borrowings by companies at a fixed rate of interest which is payable monthly. Company Fixed Deposits. Public Provident Fund. Bonds and Debentures. called the Maturity Date.
Used for Safekeeping of money Transfer of money 3. Differentiation Form of 1. practically 99. It is a substitute for those who are unable to invest directly in equities or debt because of resource. in accordance with a stated set of objectives. it is advisable to have a Beneficiary Owner (BO) account to trade at the exchanges. Facilitates (without actually (without actually Safekeeping of shares Transfer of shares Funds Securities 18 . debentures etc.Mutual Funds: These are funds operated by an investment company which raises money from the public and invests in a group of assets (shares. Holdings/Deposits 2. Thus.9% settlement (of shares) takes place on demat mode only. Basis Of Bank Account Demat Account No. Today. Bank Account Vs Demat Account S.3 Introduction to Demat account Definition Demat account is a safe and convenient means of holding securities just like a bank account is for funds.). time or knowledge constraints 2.
requirement bank accounts *AQB . holdings rate of interest AQB* maintainance is Minimum balance 7.Average Quarterly Balance Table 2.handling money) handling shares) A DP of choice (can be 4. Transfer of deposits Funds/securities are transferred only at the 19 . 2006) No interest accruals on Mandatory (effective S. Number of accounts demat accounts that can be opened 3. Convenience 2. BASIS OF PARTICULARS SIMILARITY Security and Both are very safe and convenient means of holding deposits/securities No legal barrier on the number of bank or 1.1 specified for certain No such requirement account subject to the applicable securities held in demat Not Mandatory from April 01. Where to open A bank of choice a bank) Requirement of 5. No. PAN Number Interest income is Interest accrual on 6.
money/securities 5. Nomination Facility instruction of the account holder Physical transfer of money/securities is not involved Available Table 2. Fill up an account opening form provided by DP.2 2.4 How to invest in stock market? Opening a Demat Account To start dealing in securities in electronic form. Getting started Documents to be attached 1. otherwise a new account can be opened in any desired pattern by the investor.Any one of Photo Ration Card with 20 . and sign an Proof of residence (POR) .(funds or securities) Physical transfer of 4. An investor already having shares in physical form should ensure that he gets the account opened in the same set of names as appearing on the share certificate. Choose a DP Passport size photographs 2. one needs to open a demat account with a DP of his choice.
PAN card Note: The agreement required to be signed by the investor details the rights and duties of the investor and DP. Proof of identity (POI) . DP provides the investor with a copy of the agreement and schedule of charges for his future reference.agreement with DP in a standard format prescribed by the depository. DOB / Photo Driving License with DOB / Passport copy / Electricity bill / Telephone bill 3. also known as Beneficiary Owner Identification Number (BO ID). DP opens the account and provides the investor with a unique account number. 21 .Any one of Passport copy / Photo Driving License with DOB / Voters ID Card / PAN Card / Photo Ration Card with DOB 4. DP may revise the charges by giving a 30 days prior notice.
Chapter – 3 STUDY OF SERVICES PROVIDED BY RELIGARE AND OTHER BROKERAGE HOUSES 22 .
Multiple exchanges on single screen User friendly & simple navigation BSC. MCX & NCDEX 23 . anywhere Streaming quotes Refresh static rates when required Multiple exchanges on single screen Online fund transfer facility (b) Religare LG Diet Application based ideal for traders.1 Religare securities ltd services: The services provided by Religare securities Ltd are (A) E-Broking Religare provides software‟s to customers for online trading on BSE. F&O.different software product are: (a) Religare online portal User-friendly browser for investors Easy online trading platform Works in proxy and firewall system set up Integrated Back office: Access account information – anytime. NSE. F&O. NSC. MCX & NCDEX.3.
● Timely Entry & Exit: Their advisors will regularly monitor customers‟ investments and guide customers to book timely profits. ● Wide branch coverage ● Personalized/attentive services of trained a dedicated staff ● Centralized billing & accounting 24 . Investment decisions without expert advice would be like treating ailment without the help of a doctor. ● De-Risking Portfolio: A diversified portfolio of stocks is always better than concentration in a single stock. is a DP services provider through CDSL and NSDL. Based on their research.(B) Investment Advisory Services To derive optimum returns from equity requires professional guidance and advice. They diversify the portfolio in growth oriented sectors and stocks to minimize the risk and optimize the returns. They will also guide them in adopting switching techniques from one stock to another during various market conditions. ● Expert Advice: Their expert investment advisors are based at various branches across India to provide assistance in designing and monitoring portfolios. We offer depository services to execute stocks trades and settle these transactions through Religare Depository services. (C) Depositary Participant Services Religare securities Ltd. Professional assistance will always be beneficial in wealth creation.
Tortoise. and portfolios are customized to suit the unique requirements of investors. (b) Panther The Panther is suitable for the "High Risk High Return" investor with a strategy to invest across sectors. Panther. objectives and risk tolerance of our investors. Our Schemes (a) Monarque The portfolio aims at the ultra High net worth income(HNI) category and is structured to provide higher returns by taking aggressive positions across sectors and market capitalizations. Each scheme is designed keeping in mind the varying tastes. (c) Tortoise The Tortoise is suitable for the "Medium Risk Medium Return" investor with a strategy to invest in companies which have consistency in earnings. Religare PMS currently extends six portfolio management schemes. Elephant. The Tortoise portfolio aims to achieve growth in the portfolio 25 . Caterpillar and Leo. viz Monarque.● Acceptance & execution of instruction on fax ● Daily statement of transaction & holdings statement on e-mail ● No charges for extra transaction statement & holdings statement (D) Portfolio Management Services Religare offers Portfolio management service (PMS) to address varying investment preferences. PMS pays attention to details. growth and financial performance. As a focused service.
This plan is suitable for the “Low Risk Low Return” investor with a strategy to invest in blue chip companies. This scheme is suitable for investors with a high risk appetite. This scheme is a mix of moderate and aggressive investment strategies. (d) Elephant The Elephant portfolio aims to generate steady returns over a longer period by investing in Securities selected only from BSE 100 and NSE 100 index. potential fancy for a particular sector in the coming years/months. as these companies have steady performance and reduce liquidity risk in the market. stocks in their early stages of an upturn or for those which are in sectors currently ignored by the market. (f) Leo Leo is aimed at retail customers and structured to provide medium to long-term capital appreciation by investing in stocks across the market capitalization range. 26 . (e) Caterpillar The Caterpillar portfolio aims to achieve capital appreciation over a long period of time by investing in a diversified portfolio. business diversification leading to a better operating performance.value over a period of time by way of careful and judicious investment in fundamentally sound companies having good prospects. The investment strategy would be to invest in scrips which are poised to get a re-rating either because of change in business.
Today.2 STUDY OF OTHER BROKING HOUSES IN NOIDA ANGEL BROKING Ltd. Angel has emerged as a premium Indian stock-broking and wealth management house. Angel is also registered as a depository participant with CDSL. NSE and the leading commodity exchanges in India NCDEX & MCX. Products and services of Angel Broking ● Online Trading ● Commodities ● DP Services ● PMS (Portfolio Management Services) ● Insurance ● IPO Advisory ● Mutual Fund ● Personal loans ● Quality Assurance 27 . It has memberships on BSE. Angel Booking‟s tryst with excellence in customer relations began more than 20 years ago.3. Angel Group has emerged as one of the top 3 retail broking houses in India and incorporated in 1987. with an absolute focus on retail business and a commitment to provide "Real Value for Money" to all its clients.
Life and General Insurance products and Gold Coins. Mutual Funds.com (herein after referred to as the "Website") whereas IWTL is an affiliate of ICICI Bank Limited and the Website is owned by ICICI Bank Limited. Services and product of reliance money It provides customers with access to Equity. Products and Services of ICICI DIRECT 28 . catering to the diverse needs of over 3 million existing customers. IWTL has launched and established an online trading service on the Website. Customers can also avail Loans. Portfolio Management Services. Investment Banking. IPOs. Equity and Commodity Derivatives. Money Transfer and Money Changing services. Offshore Investments. Credit Card. ICICI DIRECT ICICI Web Trade Limited (IWTL) maintains www.RELIANCE MONEY Reliance Money.000 touch points spread across 5.165 cities/ towns. providing end-to-end financial solutions (including mobile and web-based services).icicidirect. It has the largest non-banking distribution channel with over 10. It is a one-stop-shop. Wealth Management Services. a Reliance Capital company and part of the Reliance Anil Dhirubhai Ambani Group is a comprehensive financial services and solution provider.000 outlets and 20.
com Ltd and is the stock broking arm of India Infoline. India Infoline. 29 . Ltd. Personal finance: .5paisa.com. is a wholly owned subsidiary of India Infoline. The subsidiary was formed to comply with regulatory guidelines.com Securities Pvt.It Deals In Mutual Fund and Insurance.com is a trade name owned by the India Infoline.com group. www. 5paisa.com is a focused website for online stock market trading. IILSPL has applied for trading membership of the BSE under Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Rules 1992. Product offered by IILSPL Stock market:-IILSPL deals in stock market by trading in equity and derivatives.● Investing in Mutual funds ● Personal Finance ● Customer Service Features ● IPO‟s ● Margin Trading ● Margin PLUS Trading ● Call Trade ● Trading on NSE/BSE ● Trade in derivatives India Infoline Security Private Ltd.
Bangalore.derivatives. www. investment banking. SMC has plans to grow its network to 2. Kolkata.com also reserves the right to decide on the criteria based on which customers would be chosen to participate in these services . Hyderabad and 1500+ offices across 375+ cities in India. The 30 . commodity. wealth advisory.hdfcsec.online trading .com) contains features of services that they offer/propose to offer in due course.hdfcsec.hdfcsec. SMC has expanded its domestic & international operations. depository services. Chennai. Jaipur. Existing network includes regional offices at Mumbai.It provides services in stock and commodity trading (through Internet).equity and commodity research. Ahmedabad.Online Trading: .The present web site (www. currency. www. Over the Years. Cochin. HDFC SECURITY HDFC security is the subsidiary of HDFC (Housing Development Financial Corporation). IPOs and mutual funds distribution. clearing services. and has established office in Dubai Gold and Commodities Exchange(DGCX). The company has expanded Internationally. Portfolio management.insurance broking.com would have an exclusive discretion to decide the customers who would be entitled to its online investing services. a leading Financial services provider in India is a vertically integrated investment solutions company.000 offices across 500+ cities in the next 3 years. SERVICES AND PRODUCT OF SMC Its products and Services include Institutional and retail brokerage of equity. with a pan-india presence. SMC SECURITIES SMC Group.
ISL is a corporate member of capital market & derivative segment of The National Stock Exchange of India Ltd. 2004. NSE and BSE.launch of new services is subject to the clearance of the regulators. Trade on Futures & Options on the NSE. PRODUCT OFFERED BY INDIA BULLS ● Equity & Debt Stock Broking ● Insurance ● Commodity trading ● Depository Services 31 . INDIABULLS SECURITIES LIMITED Indiabulls Securities Limited was incorporated as GPF Securities Private Limited on June 9. The name of the company was changed to Orbis Securities Private Limited on December 15. Online IPO's. Product offered by HDFC Security ● ● ● ● ● Online trading for Resident & Non Resident Indians. the name was further changed to Orbis Securities Limited on January 5. Telephone-based Broking (Equity & Derivatives). The name of the company was again changed to Indiabulls Securities Limited on February 16. i. Day trading on both NSE and BSE. 1995 to change the profile of the company and subsequently due to the conversion of the company into a public limited company.e. 2004 so as to capitalize on the brand image of the term “Indiabulls” in the company name. SEBI. 1995.
online trading. which has over eight decades of experience in the stock broking business. ● Commodities Trading Platform (Online/Offline). investment advice etc. 32 . Sharekhan offers its customers a wide range of equity related services including trade execution on BSE. ● Insurance ANANDRATHI SECURITIES Anand Rathi is a leading full service investment bank founded in 1994 offering a wide range of financial services and wealth management solutions to institutions.● Derivatives Broking Services ● Equity Research Services ● Mutual Fund Distribution ● IPO Distribution SHAREKHAN SECURITIES Sharekhan Securities is one of the leading retail brokerage of Citi Venture which is running successfully since 1922 in the country. ● Portfolio Management Service. depository services. Product and services of sahrekhan ● Equity Trading Platform (Online/Offline). Earlier it was the retail broking arm of the Mumbai-based SSKI Group. Derivatives. NSE. ● Mutual Fund Advisory and Distribution.
corporations. Product and services by Anandrathi securities Products Equities I Bonds I Mutual Funds I Derivatives Managed Investment Services / PMS Commodities Life Insurance General Insurance Offshore Structure & Global Investments Services Creation of a customized financial strategy Diversification of assets based on a formal process of asset allocation Active tracking. Pradeep Gupta. Founded by Mr.500 professionals throughout India and its international offices. the group today employs over 2. high–net worth individuals and families. monitoring and review of portfolios Creation of private trusts Tax planning Estate planning Structuring of family wealth 33 . Anand Rathi and Mr. The firm has rapidly expanded its footprint to over 350 locations across India with international presence in Dubai & New York.
CHAPTER – 4 DATA COLLECTION & RESEARCH METHODOLOGY d 34 .
So that research result is capable of being evaluated either by researcher himself or by others Research has its special significance in solving various operational and planning problems of business and industry.RESEARCH METHODOLOGY Research can be defined as systemized effort to gain new knowledge. Thus while talking about research methodology we are not only talking of research methods but also considered the logic behind the methods. A research is carried out by different methodologies which have their own pros and cons. Research methodology is a way to solve research in studying and solving research problem along with logic behind them are defined through research methodology. Execution of the project: It is the very important step in the research process accuracy findings depends on how systematically the study has been carried out in time so that it can make some sense when required. 35 . I have executed the project after prior discussion with the guide and structured in following steps: a. Preparation of questionnaire. Research methodology is the way to systematically solve the research problem. We are in context of our research studies and explain why it is being used a particular method or technique and why the others are not used.
Services provided by broking houses 2. Data collected by referring to the database already maintained in the company. b. Telephonic communication. Data requirements -a.b. Secondary data – a.. Primary data has been collected by conducting Personal interview of the respondents. E-mail. mutual fund. etc. 3. 36 . b. address and phone number of individual broking houses b. c. Collection of list of some of the broking houses so that more interaction is possible and the variety of responses can be registered to have a good data for analysis. Visiting and asking about their feedback on the financial services like share broking. Name. Questionnaire 2. 4. Data collected through the questionnaire. Data Collection Instruments:- 1. 3. Primary data – a. 1. Data collected official website of Religare securities ltd.
37 . A sample of 11 respondents in total has been randomly selected. selected from it with the objective of investigating its properties called a sample. Choice of Population. Both of these factors become constraints especially when a study is conducted at academic level. Presentation of Data. The data are presented through charts and tables. MS EXCEL is used to for analysis and interpretation of data.The population selected was limited to the places in NCR. Since the study conducted was with a small sample hence the exact picture cannot be revealed and the findings cannot be generalized. The response to various elements under each questions were totaled for the purpose of various statistical testing. Hence results would have altered if some other population had been selected. Limitations of study Time and Cost – The time and cost play an important role where one goes for a particular study. Sample Size – Due to time and cost constraints the large sample was not taken.Sample A finite subset of population. A sample is a representative part of the population. Tools and Techniques for Analysis.
due to which data may not be very accurate.The questionnaire might be having some undetectable errors and limitations. which could shape the responses into a particular fashion. They may not be very serious or interested in replying the questions and make it very lightly. 38 . No pre-test was done before the circulation of the questionnaire.The data is entirely based on responses given by respondents which may be biased one due to their personal bias in replying the questions. Inherent Discrepancies in the Questionnaire. Bias in Response.
CHAPTER – 5 ANALYSIS AND INTERPRETATION 39 .
1 40 . Margin Money (In Paisa) (In Paisa) Clients Broker Reliance Money 0.5 5 25 1000 25 4 850 10000 30 25 75 30 30 300 550 400 400 2000 20 7 0 0 0 2 5 1 1 2 650 800 499 300 700 5000 5000 5000 5000 0 India Infoline ICICI Direct Kotak Securities 3 India Bulls 3 Anand Rathi Securities 3 Religare Securities 20 500 11 2 700 0 2 25 15 1700 200 40 20 5 2 500 650 0 7000 HDFC Securities 3 Table5.Comparative Study of Broking house Brokerage Charges Intraday Name of Firm Angel Ltd. Broking 2 20 75 1000 4000 35 17 1 1 750 950 5000 0 Delivery SubBranches DMAT (Noida) in Rs.5 Sharekhan Securities SMC ltd. securities 3 3 7.
Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes No Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No Yes No No No No Yes Yes Yes No No Yes Yes No Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No Yes No Yes Yes No Yes Yes Table 5.Depository participants Investment Advisory E-Broking Insurance Services Relationship manager M-Connect Back office Religare Securities ICICI Direct India Infoline Security Pvt. HDFC Securities Indiabulls Kotak Securities Reliance Money Sharekhan Securities SMC securities ltd Anand Rathi Securities Angel Broking ltd. Ltd.2 41 Software Personal Loans Funding PMS .
Lack of promotion and unfocussed approach towards Product awareness 2. Religare ranks only 3rd amongst the Demat account providers.Market shares Religare 15% others 40% Religare Reliance money India bulls Reliance money 27% India bulls 18% others Fig5. 42 .1 Interpretation: This shows that even with sufficiently high Brand Equity. the company should crystallize its products and should indulge in aggressive marketing and promotion. Non – transparent marketing policies of the company Hence. This is probably because of two main reasons: 1.
2 Interpretation: This shows that intraday brokerage charges are taken by Religare is 2 paisa/100 Rs and by reliance money it is .5 5 3 0.5 paisa so for more customers Religare has to work on its brokerage charges.Comparison of intraday brokerage Intraday brokerage in paisa 8 7 6 5 4 3 2 1 0 7. 43 .5 Intraday brokerage 3 3 3 3 2 3 2 Fig 5.
Comparison of delivery brokerage Fig5.3 Interpretation: This shows that delivery brokerage charges is taken by Religare is 20 paisa/100 Rs and by Angel broking it is 15 paisa so for more customer Religare has to work on its brokerage charges. 44 .
Comparison of Account opening charges Account opening charges 1000 900 800 700 600 500 400 300 200 100 0 950 850 650 800 499 300 700 700 500 650 750 Account opening charges Fig5.4 Interpretation: This shows that account opening charges is taken by Religare is 500 Rs and by sharekhan securities it is 350 Rs so for more customer Religare has to work on its brokerage charges 45 .
CHAPTER – 6 CONCLUSION 46 .
47 . It also provides the information through the internet and mobile alerts that what IPO‟s are coming in the market It also provides its research on the future prospect of the IPO. Religare provide the facility of relationship manager facility for encouragement and protect the interest of the investors.CONCLUSION Religare is providing softwares for online clients Religare provides research and personalized advice on what stocks to buy and sell.
CHAPTER – 7 RECOMMENDATIONS 48 .
This will result in additional customer base by getting further references from satisfied clients.monetary benefits. If charges can‟t be reduced because of costs involved. so that benefits can be passed on to customers. This will help Religare in providing best services to customers. Senior managers at Religare keep on telling that it is difficult to reduce cost.RECOMMENDATIONS Try to reduce cost. 49 . But the fact is. make the services customized. because of services we provide. India being a price sensitive market. people at times go for monetary benefits rather than for long-term non. so that services are provided to only those customers who are willing to pay the price for services they are getting and let the other customers enjoy costs benefits without getting services. Religare should contact with their clients regularly for knowing the problems faced by them.
) 1 2 3 4 5 DMAT Account Margin Money Brokerage (Equity) Brokerage (Commodity) Sub . : 1. How much you charge for Products/services? S. How many sub-brokers is your company having? __________________________________ 4. Name of service/Product Charges (In Rs.Broker ship charges Same Day // Delivery 50 . No. Are you offering these products/services to your existing customers? (Please tick on this) A) E-Broking B) Investment Advisory Services C) Depository participants D) PMS E) Back Office E) Others ( ___________) 2. How many clients are you having active? ________________________________________ 3.ANNEXURE QUESTIONNAIRE Date _ _ /_ _ /_ _ Name of Company : _____________________________________________________ Address : _____________________________________________________ Name of Representative ______________ :____________________ ___ Contact No.
Any special services which makes you different in market? ____________________________________________________________________ __________ 7. Who are the major competitors in market for your company? ___________________________________________________________________ __________ 51 .5. Are you organizing any events or survey for customer‟s awareness? (If yes then specify) ____________________________________________________________________ __________ 6.
in 3) www.com 5) www.ncdex. 52 .For web support 1) www.businessstandard.com 4) www. daily research reports of Religare commodities Ltd.answers.mcxindia.religare.BIBLIOGRAPHY References: .com Books .com 2) www. Magazines & News-papers references 1) Naresh Malhotra ( market research management) 2) Philip Kotler ( marketing management) 3) The economic times 4) Daily market commentary.
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