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ICICI Direct

ICICI Direct

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ACKNOWLEDGEMENT I am very thankful to Mr. Suresh Goel (Branch Manager) ICICI direct.

com for providing me the opportunity to undergo the practical training in the ICICI direct.com branch in Hisar. He guided me from time to time and gave me dynamic ideas and suggestions by which I am able to complete my training successfully. I am grateful to Mr. Harish Goel, Mr. Charan, Miss. Neelam, Miss.. Rajeshwari for enhancing my practical approach. I also want to thank all the visible and non-visible hands, which helped me to complete the practical training with great success.

Shilpi Singla Master Of Finance& Control (Kurukshetra University,Kurukshetra)

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CONTENTS

    

PREFACE SELF EVALUATION INDUSTRY PROFILE COMPANY PROFILE PROJECT PROFILE Content of Project Profile

Page No. 3 Page No. 4 Page No. 5-12 Page No. 13-33 Page No. 34-78 Page No. 35

     

RESEARCH METHDOLOGY ANALYSIS & INTERPRETATION FINDINGS RECOMMENDATIONS BIBLIOGRAPHY QUESTIONAIRE

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PREFACE

Summer training for 6-8 weeks in MBA course and study content of such as practical knowledge. It makes the student confident and introduces them about their hidden ability. A Share trading company gives like ICICI direct.com offer their services to the people so that they can trade in money market instruments (like shares, Mutual funds etc.) easily without going from long processes and all at one place. To study the working a share trading company a research is conducted in ICICI direct.com, which is among the largest private share trading company. For research data is collected from primary & secondary method both.

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com.SELF EVALUATION This Six Weeks Industrial Summer Training has led me to understand the various investments.com. It has also enhanced my knowledge about the functioning and management of an industry. will be beneficial to me in my career. which I am sure.Kurukshetra) 4 . Online Trading by ICICI direct. Shilpi Singla Master Of Finance&Control (Kurukshetra University. working procedure and dealing with customers of ICICI direct.

INDUSTRY PROFILE 5 .

The Governing Board consists of 9 elected directors. three SEBI nominees.1956. six public representatives and an Executive Director & Chief Executive Officer and a Chief Operating Officer. which was established in 1878. while providing an efficient and transparent market for trading in securities. The Exchange. popularly known as "BSE" was established in 1875 as "The Native Share and Stock Brokers Association". which decides the policies and regulates the affairs of the Exchange. It is the first Stock Exchange in the Country to have obtained permanent recognition in 1956 from the Govt. It is the oldest one in Asia. It also strives to educate and enlighten the investors by conducting investor education programmes and making available to them necessary informative inputs. even older than the Tokyo Stock Exchange. It is a voluntary non-profit making Association of Persons (AOP) and is currently engaged in the process of converting itself into demutualised and corporate entity. It has evolved over the years into its present status as the premier Stock Exchange in the country. of India under the Securities Contracts (Regulation)Act. The Executive Director as the Chief Executive Officer is responsible for the day-to-day administration of the Exchange 6 . A Governing Board having 20 directors is the apex body.INTRODUCTION to BSE The Stock Exchange. Mumbai. debt and derivatives upholds the interests of the investors and ensures redressal of their grievances whether against the companies or its own memberbrokers. who are from the broking community (one third of them retire ever year by rotation).

matters regarding annulment of transactions. Accordingly. fees. three SEBI nominees or public representatives. Executive Director & CEO and Chief Operating Officer has been constituted. Turnover on the Exchange • The average daily turnover of the Exchange during the financial year 2003-2004 and 2004-05 (April-March). • The ban on all deferral products like Borrowing & Lending of Securities Scheme (BLESS) and Automated Lending & Borrowing Mechanism (ALBM) in the Indian capital markets by SEBI w. procedures and other matters relating to arbitration.38 lakhs respectively.e.and the Chief Operating Departments assist him. admission. 2001. have adversely impacted the liquidity in the market and consequently there is a considerable decline in the average daily turnover at the Exchange as reflected in above statistics. 2001. July 2.126 A in its Rules.f. 1978. declaration of a member-broker as defaulter.f. The average number of daily trades recorded during the above period was 7. The Committee considers judicial & quasi matters in which the Governing Board has powers as an Appellate Authority. etc. margins and other monies payable by the member-brokers to the Exchange. abolition of account period settlements. continuance and suspension of member-brokers. consisting of three elected directors. deposits. an Executive Committee. December 31. etc.81 crores and Rs. was Rs.e. Officer and other Heads of The Exchange has inserted new Rule No.98 lakhs and 9. norms. Bye-laws & Regulations pertaining to constitution of the Executive Committee of the Exchange. 7 .26 crores respectively. introduction of Compulsory Rolling Settlements in all scrips traded on the Exchanges w. 2050.

8 . safety and market integrity. trading on the stock exchanges in India used to take place through open outcry without use of information technology for immediate matching or recording of trades. NSE was set up by leading institutions to provide a modern. To obviate this. With SBTS. SBTS electronically matches the buyer and seller in an order-driven system or finds the customer the best price available. This was time consuming and inefficient. which helps to make the market more transparent. the speed with which new information was incorporated into prices. The practice of physical trading imposed limits on trading volumes and. practices and procedures. leading to increased investor confidence. it becomes possible for market participants to see the full market. fully automated screen-based trading system with national reach. It started with the concept of an independent governing body without any broker representation thus ensuring that the operators' interests were not allowed to dominate the governance of the exchange. The Exchange has brought about unparalleled transparency. The transaction is executed as soon as the quote punched by a trading member finds a matching sale or buy quote from counterparty. the NSE introduced screen-based trading system (SBTS) where a member can punch into the computer the quantities of shares and the prices at which he wants to transact. speed & efficiency. Before the NSE was set up.Introduction to NSE The National Stock Exchange (NSE) is India's leading stock exchange covering various cities and towns across the country. It has set up facilities that serve as a model for the securities industry in terms of systems. hence. The National Stock Exchange was set up in 1995 as a first step in reforming the securities market through improved technology and introduction of best practices in management.

securities lending and borrowing.NSE has played a catalytic role in reforming the Indian securities market in terms of microstructure. screen based trading. compression of settlement cycles. emergence of clearing corporations to assume counterparty risks. market practices and trading volumes. professionalisation of trading members. clearing and settlement mechanism. 9 . market of debt and derivative instruments and intensive use of information technology. fine-tuned risk management systems. dematerialisation and electronic transfer of securities. The market today uses state-of-art information technology to provide an efficient and transparent trading. demutualisation of stock exchange governance. and has witnessed several innovations in products & services viz.

Normally. The organized market is dominated by commercial banks. are dealt in this market.the organized and the unorganized. It consists of indigenous bankers and moneylenders. other primary dealers. commercial banks and mutual funds. which they lend to borrowers in the corporate and public sectors whose requirement of funds far exceeds their savings. The Reserve Bank of India occupies strategic position of managing market liquidity through open market operations of government securities. Formal trading rules. Life Insurance Corporation.Introduction to Financial Market The function of the financial market is to facilitate the transfer of funds from surplus sectors (lenders) to deficit sectors (borrowers). The money market has two components . generally less than one year. Unit Trust of India. and Discount and Finance House of India. monetary assets of short-term nature. 10 . relationships and communication networks for originating and trading financial securities link the participants in the market. borrowers or sellers of securities. access to its accommodation. there is still an active unorganized market. The core of the money market is the inter-bank call money market whereby short-term money borrowing/lending is effected to manage temporary liquidity mismatches. General Insurance Corporation. households have investible funds or savings. Organized money market: Indian financial system consists of money market and capital market. A financial market consists of investors or buyers of securities. The other major participants are the Reserve Bank of India. availability of credit and other monetary management tools. Un-organized money market: Despite rapid expansion of the organized money market through a large network of banking institutions that have extended their reach even to the rural areas. cost (interest rates). intermediaries and regulatory bodies. Financial market does not refer to a physical location. Normally. Securities Trading Corporation of India Ltd.

It may have a physical location like a stock exchange or a trading floor. Since 1995. The unorganized sector continues to provide finance for trade as well as personal consumption. The capital market: Consists of primary and secondary markets. 11 . But this market is shrinking. if mutually accepted. The inability of the poor to meet the "creditworthiness" requirements of the banking sector make them take recourse to the institutions that still remain outside the regulatory framework of banking. trading in securities is screen-based and Internet-based trading has also made an appearance in India. various public sector industrial units (PSUs). An active secondary market actually promotes the growth of the primary market and capital formation because investors in the primary market are assured of a continuous market and they can liquidate their investments. The primary market in which public issue of securities is made through a prospectus is retail market and there is no physical location. statutory and other authorities such as state electricity boards and port trusts also issue bonds/debt instruments. The investors holding securities sell securities through registered brokers/sub-brokers of the stock exchange.In the unorganized market. Central and State governments. Investors who are desirous of buying securities purchase securities through registered brokers/sub-brokers of the stock exchange. The secondary market or stock exchange is a market for trading and settlement of securities that have already been issued. The primary market deals with the issue of new instruments by the corporate sector such as equity shares. The secondary market consists of 23 stock exchanges including the National Stock Exchange. to be bought and sold. The secondary market provides a trading place for the securities already issued. there is no clear demarcation between shortterm and long-term finance and even between the purposes of finance. It also provides liquidity to the initial buyers in the primary market to re offer the securities to any interested buyer at any price. Over-the-Counter Exchange of India (OTCEI) and Inter Connected Stock Exchange of India Ltd. Offer for subscription to securities is made to investing community. preference shares and debt instruments.

the mutual funds.Capital Market Participants: There are several major players in the primary market. Registrars and Transfer Agents. as it is the arena where the players in the economic growth of the country. financial institutions. These include the merchant bankers. and individual investors. In the secondary market. and foreign institutional investors (FIIs) and individual investors. foreign institutional investors (FIIs). 12 . mutual funds. Various laws have been passed from time to time to meet this objective. Custodians and Depositories are capital market intermediaries that provide important infrastructure services for both primary and secondary markets. Market regulation: It is important to ensure smooth working of capital market. there are the stock brokers (who are members of the stock exchanges). financial institutions.

COMPANY PROFILE 13 .

1955. ICICI has capitalized on the customer’s demand for efficient. ICICI has evolved in to a diversified financial institution. The date of commencement of business was March 1. Over the years. for the acquisition and retention of the customers. with a view to bringing all over products and services online. They continued to restrict their exposure in corporate finance products segment. Innovation has emerged as the vital ingredient for success in the information age.com a finance portal targeting our clientele in the wholesale banking.ICICI Limited (INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA) as founded by the Govt. The ICICI group. high quality products and services to increase market share and insure a grater “share of the customer’s wallet”. The strategy of using ICICI’s client-centric relationship groups to actively cross self-the full range of their products and services to their client as has yielded desired results. thereby reinforcing its role in fostering the economic development of the nation. ICICI was able to offer range of experience and expertise for critical policy related matters in various sectors. ICICI launched ICICI market. in-depth knowledge of Indian industry and arguably the best pool of human talent in Indian financial sector. as exemplified in the robust growth. 14 . The study integration of the Indian economy with the global markets has accelerated trends of increasing disinter mediation and growing competition from global players. they have continued to focus on structure project finance in the infrastructure and oil. gas and petrochemical sectors. ICICI has successfully harnessed the INTERNET as a strategic tool. 1955 to encourage and asset industrial development and investment in India. is uniquely positioned to take advantage of this opportunity. of India. both to promote its financial services and to disseminate information. with its strong corporate franchise. World Bank and representative of private industry on January 5. During the year.

Bangladesh and South Africa. branches in Singapore and Bahrain and representative offices in the United States. United Arab Emirates. 67. 2005 (Rs.Overview ICICI Bank is India's second-largest bank with total assets of about Rs. ICICI Bank set up its international banking group in fiscal 2002 to cater to the cross border needs of clients and leverage on its domestic banking strengths to offer products internationally. ICICI Bank has formulated a Code of Business Conduct and Ethics for its directors and employees. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking. ICICI Bank's equity shares are listed in India on the Stock Exchange. As required by the stock exchanges. 2005 and profit after tax of Rs.659 crore at March 31. 2. ICICI Bank has a network of about 560 branches and extension counters and over 1.900 ATMs.637crore in fiscal 2004). ICICI Bank currently has subsidiaries in the United Kingdom and Canada. China. Mumbai and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). venture capital and asset management. 15 . 1. life and non-life insurance.005crore for the year ended March 31. 1.

the Government of India and representatives of Indian industry. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations. seamless access to ICICI's strong corporate 16 . with free float market capitalization* of about Rs. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. both directly and through a number of subsidiaries and affiliates like ICICI Bank. the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities. After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits. In the 1990s. an equity offering in the form of ADRs listed on the NYSE in fiscal 2000. In 1999. ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE.00 billion (US$ 7.At April 4.00 billion) ranked third amongst all the companies listed on the Indian stock exchanges. greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. and would create the optimal legal structure for the ICICI group's universal banking strategy. ICICI Bank. an Indian financial institution. and the move towards universal banking. ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001. and was its wholly owned subsidiary. ICICI was formed in 1955 at the initiative of the World Bank. 308. ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services. and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. 2005. ICICI Bank was originally promoted in 1994 by ICICI Limited.

have been integrated in a single entity. both wholesale and retail. entry into new business segments. particularly fee-based services. higher market share in various business segments. *Free float holding excludes all promoter holdings. and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.relationships built up over five decades. Consequent to the merger. strategic investments and cross holdings among public sector entities. Shareholders of ICICI and ICICI BANK approved the merger in January 2002. the ICICI group's financing and banking operations. the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned retail finance subsidiaries. 17 . with ICICI Bank. by the High Court of Gujarat at Ahmedabad in March 2002. and access to the vast talent pool of ICICI and its subsidiaries. ICICI Personal Financial Services Limited and ICICI Capital Services Limited. In October 2001.

com help the customers to trade\deal in the money market instruments like Equity. By trading through ICICI direct .com like in Hisar and has to give his identification (User Id-nick name) then he can place his 18 . Governments Bonds & Securities (NSC. in telephone trading a person is provided with a User Id (a nick name) and with this a person has to just call to branch of the ICICIdirect. Insurance.com portal and can start doing his trading himself and by doing trading himself the person will not get any kind of help by the branch officers in his dayday trading except of any problem relating to his account which he has opened in that branch. On the other hand if a person is not able to work himself online and still he want to trade through the ICICI direst. Trading a\c) of online trading in ICICI Bank or in ICICI direct.com? ICICI direct. Mutual Funds.com branch office like in Hisar a person has two options that is he can handle all his trading himself by opening a online account where he will get a User Id and a Password with the help of which he can login on the ICICI direct.com.com A person can start trading through ICICI direct. KVP RBI Bonds etc.com by simply opening a 3 in 1 account (Saving a\c. Demat a\c. ICICI direct.com branch.).com is the portal of ICICI Web Trade Limited that is the branch of ICICI Group and comes under the working of ICICI Bank.com the he will be provided with the telephone trading.ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 ----------------------------------------------------------------------------------------What is ICICI direct. In telephone trading also a person has to fill the 3 in 1 account form for opening an account in the ICICI direct. How a person can start trading through ICICI Direct.

order like if he want to purchase some shares or want to sell his shares apply for an IPO etc. all the money transactions which is to be debited and which is to be credited will be done automatically to his account by the bank.com a person is required to have a saving account in the ICIC Bank through which all his money transaction will be done.com Events Calendar SAVING A/C Year 2000 Month January April October December July July October December Event Launch of ICICIdirect Started Operation Started Margin Trading Launch of Mutual Fund Plaza Qualities for KPMG’S first Web Seal in Asia Launch of Spot Trading Launch of Call N Trade Launch of Cash Trading on BSE 19 2001 . ICICIdirect. like if a person has purchased some shares then he has to made payment for that for that he is not required to make any Demand draft or issue any Cheques the amount payable by him will be debited to his account automatically and if he has sold some shares then the amount receivable by him will be credited to his account automatically. For working with ICIC direct.

2002 January February March April May June July October Started investment in IPO online Started investment in Bonds Online Launched India’s first digitally signed Contract Notes Launched Trading in Futures Launched BTST (Buy Today Sell Tomorrow) Launched Trading In Options Launched Mobile Alerts Crossed 2lac customer base Launched Margin Plus Awarded “Best E-Brokerage House” By Outlook Money Launched Wise Invest Money Manager new letter launched Launched Investor Planning and Ideal Portfolio Crossed 5lac customer base 2003 July December 2004 February April November December 20 .

COM GROUPS EMBED Word.Picture.8 21 .ICICI DIRECT.

ICICI GROUPS RETAIL FINANCIAL SERVICES ICICI BONDS LOANS FIXED DEPOSITS DEMAT SERVICES ICICI BANK RETAIL BANKING SERVICES INTERNET BANKING SERVICES CORPORATE BANKING SERVICIES WORKING CAPITAL FINANCE CASH MANAGEMENT SERVICES ICICI PRUDENTIAL LIFE INSURANCE ICICI CAPITAL MARKETING. DISTRIBUTION AND SERVICING OF FINANCIAL PRODUCTS ICICI INFOTECH SOFTWARE SOLUTION IT ENABLED SERVICES SHAREHOLDER AND BONDHOLDER SERVICING ICICI WEB TRADE ONLINE SHARE TRADING ONLINE IPO TRADING IN DERIVATIVES (FUTURE AND OPTION) 22 .

ICICI HOME HOUSING FINANCE ICICI PERSONAL FINANCIAL SERVICES DISTRIBUTION AND SERVICING OF RETAIL LOAN PRODUCTS CORPORATE FINANCIAL SERVICING ICICI PROJECT FINANCE TRASURY SERVICES ICICI SECURITIES INVESTMENT BANKING PRIMARY DEALERSHIP ICICI BROKERAGE EQUITY BROKING EQUITY RESEARCH ICICI LOMBOARD GERNAL INSURANCE ICICI VENTURE OFFSHORE AND SOMESTIC PRIVATE EQUITY ICICI KINFRA INFRASTRUCTURE PROJECT DEVELOPMENT IN KERALA 23 .

ICICI WINFRA INFRASTRUCTURE PROJECT DEVELOPMENT IN WEST BENGAL ICICI INTERNATIONAL OFFSHORE INVESTMENT OFFSHORE FUND MANAGEMENT ICICI KNOWLEDGE PARK INFRASTRUCTURE AND SUPPORT FACILITIES FOR BUISNESS DRIVEN RESEARCH 24 .

ICICI Bank ink $152 mn funding pact 06/05/2006 ICICI hikes home loan rates 06/05/2006 Rate hike 05/05/2006 ICICI Bank set for fresh round of rate hikes 05/05/2006 BRANCH IN BELGIUM-ICICI Bank UK 03/05/2006 ICICI Bank inflates on strong Q4 outcome. FCNR(B) RATES UP-Banks 10/05/2006 Banks feel IPO scam tremor 08/05/2006 IA.35 Target Price : 530 10/06/2006 ICICI Bank moves up lending rates by 50 bps 07/06/2006 SIDBI buys Rs 450 crore SME credit portfolio from ICICI Bank 02/06/2006 NRE.4% stake in 3i Infotech 06/07/2006 ICICI Bank to speed up rural networking 03/07/2006 ICICI-Current Price: 500.42% in ICICI 07/07/2006 ICICI Bank sells 5.24 cr from sale of securitised assets 08/07/2006 Bajaj picks up 1. scales alltime high 02/05/2006 ICICI `touch point' every 10 km 02/05/2006 ICICI Bank: Asset growth 01/05/2006 ICICI Bank net up 29% to Rs 790 crore 01/05/2006 IBP losses 26/04/2006 Soft selling 20/04/2006 NRE DEPOSIT RATES-BoI. ICICI 13/04/2006 The farm is no freeway 07/04/2006 RBI BARS FIIs-ICICI Bank 05/04/2006 ICICI Bank to launch white label credit card 31/03/2006 ICICI offloads Mysore Cements stake 30/03/2006 ICICI Bank to raise Rs 4000 cr 23/03/2006 ICICI offloads SIB stake for Rs 30 cr 25 .ICICI Bank Press releases 2006 • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 24/07/2006 ICICI Bank bottomline rises 17% 24/07/2006 ICICI Bank sizzles on strong Q1 show 24/07/2006 SBI to issue hybrid capital instruments abroad 13/07/2006 Bigger cheques for bank bosses 11/07/2006 ICICI Bank gains Rs 403.

Germany. Bayern LB.08 crore • 17/01/2006 IPO scam derails banks' US plans • 14/01/2006 ICICI Bank the first to go mobile in UK • 14/01/2006 ICICI Bank hikes interest rate for corporate loans • 13/01/2006 ICICI Bank hikes PLR by 25 bps • 05/01/2006 ICICI Bank multiple-asset pool gets first AAA rating 03/01/2006 REVISES RATES-ICICI Bank • • • • • ICICI Bank Press Release | 2005 | 26 . Bayern LB.20/03/2006 ICICI Bank plans to rejig assets portfolio 17/03/2006 Liquidity expected to keep rates stable in near term 16/03/2006 ICICI Bank to cover 60 districts by year end 14/03/2006 ICICI Bank hikes PLR for corporates by 100 bps 14/03/2006 ICICI Bank sells Fed Bank shares to IFC 13/03/2006 ICICI BANKING CORP-Current Price: 614-Target Price : 630 • 09/03/2006 Intel. Bayern LB.Growth & Value Fund . Germany. to co-operate • 20/02/2006 ICICI Bank. SBI to hike home loan rates • 08/02/2006 Allied Digital bags ICICI Bank deal • 30/01/2006 ICICI-Current price: 619.55 -Target price : 660 • 25/01/2006 RBI to probe controls of IPO-tainted banks • 23/01/2006 UTI . to co-operate • 15/02/2006 ICICI Bank ups corporate lending rate by 50 bps • 09/02/2006 ICICI. Germany.(G) buys ICICI Bank in December 2005 • 21/01/2006 ICICI Bank net up at Rs 640 cr • 20/01/2006 ICICI Bank Q3 net at Rs 640. ICICI Bank tie up to finance SME tech needs • 07/03/2006 ICICI Bank to jack up PLR afresh • 03/03/2006 MOSCOW BRANCH-ICICI Bank • 28/02/2006 ICICI Bank strikes form • 21/02/2006 ICICI Bank ties up with BayernLB • 20/02/2006 ICICI Bank. to co-operate • 20/02/2006 ICICI Bank.

PROJECT PROFILE 27 .

70-71 Page No. 72         28 .70 Page No. 33-40 Page No.CONTENTS    TRADING PROCEDURE TRADING MECHANISM EQUITY SHARES PREFERENCE SHARES TRADING IN SHARES DERIVATIVES (FUTURES & OPTIONS) MUTUAL FUNDS INVESTING IN MUTUAL FUNDS IPO’S & BONDS FEATURES OF ICICI DIRECT. 48-53 Page No.COM Page No.32 Page No. 41-43 Page No. 69 Page No. COM ADVANTAGES OF ICICI DIRECT. 47 Page No. 54-68 Page No. 44-46 Page No.

CUSTOMER SAVING A/C TRADING A/C DEMAT A/C TRADING OWN TRADIN G BY NET DBC PASSWORD & ID SELF TRADING ORDE R PLACE D TO DBC BY TELE NICKNAME BY DBC SELF PRESE NT PLACING AN ORDER PLACING AN ORDER TRADING 29 TRADING .

Select Account :- First we have to select account in which the trading is to be done. For eg.Q.All rights Reserved. August 03.INB 231147639 | BSE SEBI Registration Number Capital Market :. Equity Mutual funds Commodities Derivatives Ipo’s Insurance Logout | F. ICICI Web Trade Limited ® trademark registration in respect of the concerned mark has been applied for by ICICI Bank Limited NSE SEBI Registration Number Capital Market :.1. | Site map | Contact us Thursday.. Copyright© 2006.12:20 IST Customer service Home Trading News Market Commodity Derivatives Charts Research Mutual funds Personal finance Select Account Search e-Invest Account : Select e-Invest Account : Go To : Help þÿ þÿ þÿ home | trading | news | markets | quotes & charts | research | mutual funds | personal finance | customer service | site map | disclaimer Minimum Browser Requirement: You must have Internet Explorer 5.INB 011147635 30 .A. Then select go to. 2006.7 & above. column. Insert account number in the select a/c no. column various options of trading will be opened & than click on in which the trading is to be done.5 & above or Netscape Communicator 4.

00 0.00 Amount þÿ þÿ þÿ þÿ 31 . Current Allocation 0.22 SUBMIT Clear Total Bank : Rs. we will choose the investment alternatives in which the trading is to be done like equity.00 20. ipo’s same procedure as explained in equity will be applied.00 0.00 0. If we want to buy equity shares in that case allocate money from saving account in front of equity column. derivatives etc.00 0. Modify Allocation:- After opening the account for which the trading is to be done.725.INF 231147639 2. 20. For eg. MODIFY ALLOCATION Account : 8500325406 Block For Secondary Market Equity Futures & Options Commodity Postal Savings.00 0.725. If an investor want to buy than we will allocate the money from saving account through modify allocation infront of column side to investment alternatives.IPO & Others Gross Allocation Net Withdrawal Balance Bank Account : 017201502189 No. mutual funds.22 Balance Add / Reduce þÿ þÿ þÿ þÿ Blocked for Trade 0. If we want to invest in derivatives.NSE SEBI Registration Number Derivatives :.00 0.MFs.

It is possible that a stock is associated with more than one ISINnos. The current market value of each of the stocks can also be seen. the total balance and the available balance is displayed. 32 . The shares get automatically debited from the DP account in case of a net sell obligation and credited in the event of a buy sell obligation. The quantity remains blocked till the Securities pay -in -date for the Settlement. After tjat the quantity is shifted to the TIFD(Transfer Instrution For Debit) column which indicates that the quantity is in the process of being debited from the account on settlement. The available balance indicates the number of shares that can be sold. Each stock has an associated ISIN no. DEMAT ALLOCATION:- You can see details of the stocks in the demat accounts linked with your E-brokerage account on this page. Against each stock. Such quantity is indicated as blocked or under TIFD and cannot be sold.3. Please note that no separate instructions need to be issued to the depository participant(DP) for debiting the account in case of a net sell obligation. The available balance is less than the total balance when some shares have been sold.

DEMAT BALANCE Account IN300183-11520437: 8500215946 ALLOCATED SECURITIES Stock Code: þÿ Find Symbol Help 33 .

Stock ALKSPI COMWI DYNSYS ESSSTE GAMIND HUGTEL INDGAS KARBAN MIRELE MRPL NATSTE NORTEA RALIND RELPET TELDAT

Total Blocked Block Current Allocated Demat for For Market Qty Balance Trade Margin Price 1500 100 8250 120 15 300 50 100 200 300 100 100 30 200 200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.53 NA

Market Allocate/DeAllocate Qty Value 795.00 NA
þÿ þÿ þÿ þÿ þÿ þÿ þÿ þÿ þÿ þÿ þÿ þÿ þÿ þÿ þÿ

Buy / Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Sell

0.32 2,640.00 34.90 4,188.00 325.05 4,875.75 18.60 5,580.00 112.00 5,600.00 99.35 9,935.00 15.75 3,150.00 35.90 10,770.00 21.05 2,105.00 4.10 410.00

263.50 7,905.00 60.75 12,150.00 10.60 2,120.00 TOTAL 72,223.75

4. ORDER BOOK:-

The page represents the current status and other details of buy/sell orders placed by you. The details are updated on real-time basis and the latest status can be verified by refreshing the page. Each order has an Order Ref. No. which is an internal no. assigned by ICICI Direct.Com.
34

Order book can be explained:• Buy order • Sell order Buy order:This order book is used when an investor want to place the order in equity or derivatives. For purchasing equity shares order has to be placed in equity order book. If investor want to invest in derivatives than order is placed in derivative order book.
BUY STOCKS
Account : IN302679-32836794-8500325406 Exchange : Stock : þÿ Quantity : þÿ Order Type : Limit Price : þÿ Disclosed Quantity : þÿ Stop Loss Trigger : þÿ Price Nickname : þÿ
Explain

NSE

BSE

Product : þÿ Find Stock Code Get Quote

Market

Limit

Best 5 Bids/Offers Explain

Protection : þÿ %

Buy Now

Sell order:This sell order book is used when an investor want to sell the stocks which are available in the investors demat account. For selling the investor has to equity sell order book. If investor want to sell the derivatives than order is placed in derivatives sell order book.
SELL STOCKS
Account : IN302679-32836794-8500325406 Exchange : Stock : þÿ Quantity : þÿ Order Type : NSE BSE Product : þÿ Find Stock Code Get Quote

Market

Limit

Best 5 Bids/Offers

35

Limit Price : þÿ Disclosed Quantity : þÿ Stop Loss Trigger : þÿ Price Nickname : þÿ
Explain

Protection : þÿ %

Explain

Sell Now

5. Trade Book:-

The Trade book shows details of the trades executed for you. The details are updated on a real time basis and the latest status can be verified by refreshing the page. Further trades can be selected either on the basis of • Settlement No or • Date From and Date To
1. All the Trades for the same order are shown together.

Multiple trades for the same Order Ref. No. to be aggregated and shown as a single entry in the Trade Book. Clicking the Order Ref, No. will show you the details of the trades for that particular Order Reference Number. 2. Clicking on the DP ID-DP client id will show you the Security projection for that particular selection of exchange, segment and settlement. 3. Clicking the settlement will show the cash projections for the particular selection of exchange, segment and settlement. This page will also give you the display of the date and the amount of cash Pay In/ Cash Pay out debited credited to your bank account with date and time. 4. In case stock code is blank or has been selected as ALL than Net Value to be shown at the bottom of the table.

5. On clicking on the update portfolio button. All the selected

trade’s will be updated in the portfolio page. The updation of trade’s from the trade book to portfolio can be done only once. In case the customer want to update his
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37 . Security projection:- The page gives details of date-wise net future security inflows /outflows due to/from you and the resultant balances. • Weighted average price: This will show the weighted average price of that particular position. Account : 8500508229 Stock Code : þÿ Date From : Exchange : þÿ þÿ Date To : Product : þÿ þÿ View Date Stock Action Qty.TRADE BOOK: Orders executed on previous trading days can be viewed during non-trading hours and trading holidays only. • Maximum sell quantity permitted: This is the maximum quantity allowed to be sold in BTST for the particular position.00 (10.” The Security Projection also gives the following additional information. You can place a Buy Today Sell Tomorrow (BTST) order against a buy position through the Security Projections page by using the hyperlink “BTST sell. Details of all transactions relating to that particular stock can be viewed by clicking the on the link ‘Stock’.00 20060804N300000581 0. Price# 04Aug2006 Trade Value 10.00) Brokerage incl.00 0. This quantity is credited (in case of a net buy position) or debited (in case of a net sell position) to your Demat Account on the date specified as the Securities pay-in/pay-out date of clients for the settlement.740.148.00 IN30018311570506 NSE Total UPDATE PORTFOLIO helpdesk@icicidirect. DP Id Settlement Segment Client DP Exchange U / P Id 2006147 Rolling BHEL Buy 5 2. All transactions executed on your account for each stock are aggregated for each settlement to arrive at the net quantity of stock receivable by or payable to you for the settlement. Security projections provides the quantity of such debit or credit will take place.740. taxes Order Ref.com 6.portfolio again from the trade book he will have to write to EQUITY .

permitted.18 NA NA NA 7. • Available quantity. pay –in/pay-out of the Exchange). SECURITY PROJECTION & BTST® Account Security Projections Date Position 09Aug2006 09Aug2006 09Aug2006 : 8500325063 Buy Today Sell Tomorrow® (BTST®) Stock Quantity Exchange Segment. Blocked Qty and Available quantity show NA and the BTST Sell Hyperlink does not appear in the Security Projections. The available quantity is the Maximum order quantity allowed to be placed after considering the BTST orders already placed.e. Qty Qty Sell Price Permitted 2006147 46.• Blocked Quantity: On successful order placement the order quantity is shown in the blocked quantity of the Security Projections. In other words . Sale in BTST is permitted only till on T+1 and T+2 days (and not on T+3 i.30pm for calculating he business the Trade done in a particular period is calculated after adding all the trades done in a particular day. Through viewing the trade book we can know the trades done for any particular date. Calculation Of Business:- Lastly after 3. Trading is done in following.20 300 0 300 BTST® Sell BTST® Sell BUY PETLNG 300 NSE Rolling BUY PRAIN 200 NSE Rolling 2006147 161. This is equal to: Available Quantity= Maximum Sell Quantity Permitted-Blocked Quantity For stocks which are not permitted to be traded in BTST the columns of Maximum Sell Qty.38 . week or month. BTST shall be permitted only up to the day prior to the scheduled payout of shares from the Exchange.99 200 0 200 BUY SUBROS 200 NSE Rolling 2006147 194. Weighted Max Sell Settlement Blocked Available BTST® Average Qty No.

This gives the shareholder the facility of dealing more easily with his share in the market. The “stock” is expressed in terms of money and not as many shares. • Right to apply the central government to call an annual meeting when a company fails to call such a meeting. • Right of pre-emption in the matter of issue of new capital. Share certificate means a certificate under the common seal of the company specifying the number of shares held by any member. copies of annual accounts along with audited report. • Right to share in the profits in the form of dividends and bonus shares.EQUITY SHARES Equity shares are commonly referred to common stock or ordinary share. Share certificate provides the prima facie evidence of title of the members to such shares. The term stock is the aggregate of a member’s fully paid up shares of equal value merged into one fund. • Right to apply to court if there is any discrepancy in the rights set aside. there is a difference between them. It enables him to sell his shares by showing marketable title. 39 . Even though the words shares and stocks are interchangeably used. Share capital of a company is divided into a number of small units of equal value called shares. • Right to vote at the general body meetings of the company. It is a set of shares put together in a bundle. • Right to receive a copy of statutory report. • Right to claim on the residual after repayment of all the claims in the case of winding up of the company. Rights of equity shareholders according to section 85(2) of companies Act 1956. • Right to control the management of the company. Stock can be divided into fractions of any amount and such fractions may be transferred like shares.

” The main objective of trading on equity is to increase earnings per share for equity shareholders by issuing low dividend preferred stock and low interest debts. grater will be the rate of dividend on equity shares. For eg: if a company borrows Rs. therefore. management can increase income for the equity shareholders by using less amount of ordinary share capital. Under it. 100 @8% and earns 12% on this amount. 4 for the equity shareholder after paying the interest. In a limited company the equity shareholders are liable to pay the company’s debt only to the extent of their share in the paid up capital. 40 . “When a person or a corporation uses borrowed capital as well as owned capital in the regular conduct of business he or it is said to be trading on equity. they want safety from the side of owned capital. at a fixed cost of financing a firm is known as trading on equity.” “The use of borrowed funds. Debt holders have limited share in the profits of the business.• Right to apply the Company law Board for calling an extraordinary general meeting. Trading In Equity The use of fixed charges sources of funds such as debt and preference capital alongwith owner’s equity in the capital structure is described as trading on equity or financial leverage. The equity shares have certain advantages. Company uses trading on equity in the circumstances when the rate of profit earned on the borrowed funds will be greater than the rate of interest payable on them. It is called trading on equity because owned capital is considered as basis of issue of preference share capital and debt capital. it will be able to save Rs. Greater the rate of earnings on the total capitalization as compared to the rate of interest payable on and other debts.

Limitations of Trading on Equity The policy of trading on equity is used for increasing the income of ordinary shareholders. But it has following limitations:• If the income is irregular and uncertain. it is called trading on thin equity. While determining the capital structure it is necessary to consider the effects of debt on cost of capital and financial risk. • To control more financial resources by using more loaned capital on the basis of owned capital. In addition. management can make profit planning with the help of policy of trading on equity. By financial risk we mean the inability of the firm to meet fixed financial cost.Objectives of Trading on Equity • To increase the rate of dividend on ordinary share capital. 41 . financial management can form a fair capital structure. Significance of Trading on Equity By following the policy of trading on equity.When a company the amount of equity share capital is less as compared to debentures and preference share capital. it is called trading on thick equity. • To centralize the right of voting in a few hands. Types of Trading on Equity Trading on Thin Equity:. management can acknowledge this effect. this policy is not good for such business because in the years of low income. the burden of interest rises. Trading on Thick Equity:.When in total capitalistion the amount of loan capital and preference share capital are low as compared to equity share capital. By analyzing the policy of trading on equity.

The arrearages do not earn interest. it is not possible to raise debt beyond a certain limit. In the case of bonds. the policy of trading on equity will reduce the income for equity shareholders rather than increasing it. These shareholders do not enjoy any of the voting powers except when any resolution affects their rights. their claims on the company’s income are limited and they receive fixed dividend. • By taking more loans. if the income of the company before paying interest and taxes is equal to the interest payable on loans. The decision to pay dividend to the preferred stock is at the discretion of the Board of Directors. The non payment of dividend only continues to grow. It can cause difficulty to raise additional capital in future. The arrearages accrue only for a limited number of years and not indefinitely. Types of preference shares Cumulativpeference shares: The cumulative total of all unpaid preferred dividends must be paid before dividends are paid on common equity. In the event of liquidation of the company their claims on the assets of the firm are also fixed. shareholders will not get any dividend. Like bonds. payment of interest rate is mandatory. Preference Shares Preference shares are those shares which get preferential treatment while receiving dividend as compared to equity shares. The dividend received by the preferred stock is treated on par with the dividend received from the equity share for the tax purpose. and it can reduce the market price of shares.• If the rate of income earned is less than the rate of interest payable. Generally three years of arrears accrue and 42 . • Sometimes. Similarly. the interference of debt holders increases. loan capital is profitable but due to the limitations imposed by the Articles and Memorandum or by the prevailing laws of a country.

along with the security and stability of income. it should be paid out of the profits of out of the company’s share premium account. Convertible preference shares: The convertibility feature makes the preference share a more attractive investment security.accumulative feature ceases after three years. they have no further rights to have claims in the surplus. But redemption of the shares can be done only when a) The partly paid up shares are made fully paid up. b) The fund for redemption is created from the profits. redeemable preference share can be issued. If there is a provision in the Articles of Association for such claims. In the winding up of the company if preference and equity shares are fully paid. these preference shares are convertible as equity shares at the end of the specifies period and are quasi-equity shares. This gives the additional privilege of sharing the potential increase in the equity value. The conversion feature is almost identical with that of the bonds. no arrears of dividends are payable unless there is a provision for them in the Articles of Association. then they have the rights to claim. If there is no profit or inadequate profit in the company in a particular year. Non-Cumulative preference shares: The dividend does not accumulate. the company does not pay it. RIGHT SHARES 43 . Redeemable preference shares: If there is a provision in the Articles of Association. In the case of liquidation. which would otherwise be available for distribution of dividends of out of the proceeds of fresh issue of shares for the purpose. c) If any premium has to be paid on redemption. But the dividends in arrears continue if there is no such provision in the Articles of Association.

whichever is earlier. 44 . Minimum subscription limit is prescribed for right issues. Bonus shares are declared by the directors only when they expect a rise in the profitability. SEBI has removed this limit. He may renounce all or part of the shares offered to him. The issue shares of bonus shares enables the shareholders to sell the shares and get capital gains while retaining their original. The declaration of the bonus issue used to have favorable impact on the psychology of the shareholders.com offers you various options while trading in shares. if any. existing are made fully paid up. The bonus issue is made out of free reserves built out of genuine profit or share premium collected in cash only. Bonus shares are issued to the existing shareholders without any payment of cash. BONUS SHARES Bonus share is the distribution of shares in addition to the cash dividends to the existing shareholders. The bonus issue could be made only when all the partly paid shares. The shareholder can renounce the right shares in favour of his nominee. This pre-emptive right can be forfeited by the shareholders through a special resolution.Shares offered to existing shareholders at a price by the company are called right shares. In the event of company failing to receive 90% subscription. such shares should be offered first to the existing shareholders in proportion to the capital paid up on the shares held by them at the date of such offer. If a public company wants to increase its subscribed capital by way of issuing shares after two years from its formation date or one year from the date of first allotment. Trading in shares: ICICIdirect. the company shall have to return the entire money received. They are offered to the shareholders as a matter of legal right. At present. The right shares may be partly paid.

MarginPLUS will give a much higher leverage in your account against your limits. On selling shares through "cash on spot". which is generally done with the intention of taking delivery of shares or monies. without you having to wait for the receipt of shares into your demat account.e. its value is entirely "derived" from the value of the underlying asset. This money can then be withdrawn from any of the ICICIBank ATMs.Cash Trading : This is a delivery based trading system. DERIVATIVES (FUTURES & OPTIONS) Derivatives:The term "Derivative" indicates that it has no independent value. The 45 . When you are looking at an immediate liquidity option. wherein you take long buy/ short sell positions in stocks with the intention of squaring off the position within the same day settlement cycle. MarginPLUS Trading : Through MarginPLUS you can do an intra-settlement trading upto 25 times your available funds. i. Margin Trading : You can also do an intra-settlement trading upto 3 to 4 times your available funds. Spot Trading : This facility can be used only for selling your demat stocks which are already existing in your demat account. BTST : Buy Today Sell Tomorrow (BTST) is a facility that allows you to sell shares even on 1st and 2nd day after the buy order date. money is credited to your bank a/c the same evening & not on the exchange payout date. 'Cash on Spot' may work the best for you. wherein you take long buy/ short sell positions in stocks with the intention of squaring off the position within the same day settlement cycle.

whether secured or unsecured. A contract which derives its value from the prices. currency. foreign exchange. or index of prices. option or any other hybrid contract of pre determined fixed duration. Derivatives is a product whose value is derived from the value of one or more basic variables. index. In other words. A security derived from a debt instrument. of underlying securities. Such a transaction is an example of a derivative. loan. Derivative means a forward. risk instrument or contract for differences or any other form of security. 1999. wheat farmers may wish to sell their harvest at a future date to eliminate the risk of a change in prices by that date. commodity or any other asset. linked for the purpose of contract fulfillment to the value of a specified real or financial asset or to an index of securities. commodities. future. in a contractual manner. or reference rate). share. bullion. The underlying asset can be equity. Derivatives has been included in the definition of Securities. In a nutshell. For example. The term Derivative has been defined in Securities Contracts (Regulations) Act. called bases (underlying asset. Derivatives Most common derivative instruments traded at any stock exchange are : 46 . b. With Securities Laws (Second Amendment) Act. as:Derivative includes: a. live stock or anything else. The price of this derivative is driven by the spot price of wheat which is the “underlying”.underlying asset can be securities.

but not the obligation to sell a given quantity of the underlying asset at a given price on or before a given date.A futures contract is an agreement between two parties to buy or sell an asset at a certain time in the future at a certain price.1. 2) Options:. 47 . Calls 2.Options are of two types. at a given price on or before a given future date.1) Futures:. Puts: give the buyer the right. Futures contracts are special type of forward contracts in the sense that the former are standardized exchange-traded contracts. Puts Calls: give the buyer the right but not the obligation to buy a given quantity of the underlying asset.

The contract expires on a pre-specified date which is called the expiry date of the contract. an index of prices of securities etc. Cash settlement entails paying/receiving the difference between the price at which the contract was entered and the price of the underlying asset at the time of expiry of the contract. a put. delivery time and place for settlement on any date in future. The buyer / holder of the option purchases the right from the seller/writer for a consideration which is called the premium. a mandi. and includes a teji. 48 .Future Contract Futures Contract means a legally binding agreement to buy or sell the underlying security on a future date. quality (in case of commodities). The underlying asset could include securities. a teji mandi. a galli. The seller/writer of an option is obligated to settle the option as per the terms of the contract when the buyer/holder exercises his right. On expiry. Under Securities Contracts (Regulations) Act. Option Contract Options Contract is a type of Derivatives Contract which gives the buyer/holder of the contract the right (but not the obligation) to buy/sell the underlying asset at a predetermined price within or at end of a specified period. securities in future. Future contracts are the organized/standardized contracts in terms of quantity. a call or a put and call in securities. or a right to buy and sell. 1956 options on securities has been defined as "option in securities" means a contract for the purchase or sale of a right to buy or sell. futures can be settled by delivery of the underlying asset or cash.

are known as Index Futures Contracts. Similarly. futures contract on NIFTY Index and BSE-30 Index. Therefore. are known as Index option contracts. if an option that is in case of securities but not in index is called American option and one that is on the basis of index only is called European option. Index Option Contracts are 49 . However. For example. which are based on some index. who are obligated to settle the terms of the contract within a specified time frame. the buyer of Index Option Contracts has only the right but not the obligation to buy/sell the underlying index on expiry.e. However. This request for exercise is submitted to the Exchange. option contracts can be also be settled by delivery of the underlying asset or cash. unlike futures cash settlement in option contract entails paying/receiving the difference between the strike price/exercise price and the price of the underlying asset either at the time of expiry of the contract or at the time of exercise/assignment of the option contract. unlike Index Futures. As in the case of futures contracts. These contracts derive their value from the value of the underlying index. Index Futures and Index Option Contracts Futures contract based on an index i. the options contracts. in the case of American options the buyer has the right to exercise the option at anytime on or before the expiry date. The price at which the option is to be exercised is called Strike price or Exercise price. the underlying asset is the index. which randomly assigns the exercise request to the sellers of the options. Further.An Option to buy is called Call option and option to sell is called Put option.

2 Lacs. they can be exercised/assigned only on the expiry date. Derivatives: Lot Size of a Contract Lot size refers to number of underlying securities in one contract. 1956 had recommended that the minimum contract size of derivative contracts traded in the Indian Markets should be pegged not below Rs. a Parliamentary Committee. Derivatives: Minimum Contract Size The Standing Committee on Finance. index cannot be delivered on maturity of the Index futures or Index option contracts therefore. An index. Based on this recommendation SEBI has specified that the value of a derivative contract should not be less than Rs. For example.1000 each and the minimum contract size is Rs. Additionally. these contracts are essentially cash settled on Expiry. if shares of XYZ Ltd are quoted at Rs. then the lot size for that particular 50 . at the time of recommending amendment to Securities Contract (Regulation) Act. for stock specific derivative contracts SEBI has specified that the lot size of the underlying individual security should be in multiples of 100 and fractions. in turn derives its value from the prices of securities that constitute the index and is created to represent the sentiments of the market as a whole or of a particular sector of the economy (Sectoral Index). By its very nature. if any.2 lacs. 2 Lacs at the time of introducing the contract in the market.e.generally European Style options i. This requirement of SEBI coupled with the requirement of minimum contract size forms the basis of arriving at the lot size of a contract. should be rounded of to the next higher multiple of 100.

e. you take buy/sell positions in index or stock(s) contracts having a longer contract period of up to 3 months.com. TRADE IN DERIVATIVES: FUTURES Through ICICI direct. one contract in XYZ Ltd. the price moves in your favour (i. Presently only selected stocks. have been enabled for futures trading. In futures trading. 51 .e. during the course of the contract life. which meet the criteria on liquidity and volume. covers 200 shares. which is independent in governance and membership from the Derivative Exchange/Segment. Derivative Markets in India Derivative trading in India takes can place either on a separate and independent Derivative Exchange or on a separate segment of an existing Stock Exchange. Trading in FUTURES is simple! If. Derivative Exchange/Segment function as a Self-Regulatory Organization (SRO) and SEBI acts as the oversight regulator.scripts stands to be 200000/1000 = 200 shares i. you can now trade in index and stock futures on the NSE. you make a profit. The clearing & settlement of all trades on the Derivative Exchange/Segment would have to be through a Clearing Corporation/House. rises in case you have a buy position or falls in case you have a sell position).

Today. mutual funds provide the benefit of aving someone else manage your investments and diversify your money over many different securities that may not be available or affordable to you otherwise. safety and liquidity. And in addition to this a mutual fund brings the benefits of diversification and money management to the individual investor. An assets management company manages and monitors this investment in order to maximize benefits to the investors.Calculate Index and Know your Margin are tools to help you in calculating your margin requirements and also the index & stock price movements. Mutual Funds mainly cater to small investor and manage portfolio in a manner that provides regular income. MUTUAL FUND Like most developed and developing countries the mutual fund cult has been catching on in India. A Mutual Fund is a professionally managed collective investment fund formed with the objective of raising money from large number of investors. The ICICIDIRECT UNIVERSITY on the HOME page is a comprehensive guide on futures and options trading. minimum investment 52 . income and/or income preservation. For the individual investor. providing an opportunity for financial success that was once available only to a select few. Mutual funds make it easy and less costly for investors to satisfy their need for capital growth. There are various reasons for this.

Growth of Mutual Funds The Indian Mutual fund industry has passed through three phases. is diversified -. which for the first time established a comprehensive regulatory framework for the mutual fund industry. Securities Exchange Board of India (SEBI) formulated the Mutual Fund (Regulation) 1993. The industry was opened up for wider participation in 1987 when public sector banks and insurance companies were permitted to set up mutual funds. UTI is governed by a special legislation. Those securities are professionally managed on behalf of the shareholders. Since then. the Unit Trust of India Act. money market securities or some combination of these. by its very nature. bonds. The Mutual Fund Industry The Government of India can trace the genesis of the mutual fund industry in India back to 1964 with the setting up of the Unit Trust of India (UTI). 6 public sector banks have set up mutual funds. there are many different types of mutual funds with different objectives and levels of growth potential. furthering your chances to diversify. Investments may be in stocks.to invest in a variety of different securities. A mutual fund. but subject to any losses in value as well. and each investor holds a pro rata share of the portfolio -. Beyond that.its shareholders -.entitled to any profits when the securities are sold. Since then several mutual funds have been set up by the private and joint sectors. Also the two Insurance companies LIC and GIC have established mutual funds.its assets are invested in many different securities. The first phase was between 1964 and 1987 when Unit Trust of India was the only 53 .requirements on many funds are low enough that even the smallest investor can get started in mutual funds. 1963. Understanding Mutual funds is easy as it's such a simple concept: a mutual fund is a company that pools the money of many investors -. Since then UTI has grown to be a dominant player in the industry.

The share of the private players has risen rapidly since then.Hassle free and Paperless Investing.13. Birla Sun Life MF.028crores at the end of 1994 and the numbers of schemes were 167. Kothari Pioneer Mutual fund was the first fund to be established by the private sector in association with a foreign fund. You need no signatures or proof of identity for investing. Prudential ICICI MF. Your bank funds are automatically debited or credited while simultaneously crediting or debiting your unit holdings. The Securities and Exchange Board of India (SEBI) came out with comprehensive regulation in 1993. 32 funds were functioning with Rs. which defined the structure of Mutual Fund and Asset Management Companies for the first time. UTI had total asset of Rs 6. you can now invest on-line in 10 mutual Funds through ICICIdirect. there were 33 funds with 391 schemes and assets under management with Rs. Several private sectors Mutual Funds were launched in 1993 and 1994.005 crores as total assets under management. 1.849 crores. Currently there are 34 Mutual Fund organizations in India. With the inclusion of Standard Chartered MF. This resulted in the total assets under management to grow to Rs 61. Alliance MF. The third phase began with the entry of private and foreign sectors in the Mutual fund industry in 1993.700crores. ICICIdirect. 1. Once you place a request for investing in a particular fund. Principal MF and IL & FS MF are the Mutual Funds available for investment. JM MF. The second phase was between 1987 and 1993 during which period 8 funds were established (6 by banks and one each by LIC and GIC). This signaled a growth phase in the industry and at the end of financial year 2000. By the end of 1988.com. You can invest in mutual funds without the hassles of filling application forms or any other paperwork. As on August end 2000. HDFC MF. You also get control over your investments with online order confirmations and 54 .player. Sundaram MF. Franklin Templeton MF. there are no manual processes involved.com brings you the same convenience while investing in Mutual funds also .02.

Get to know the performance of your investments through online updation of MF portfolio with current NAV. IL & FS MF and Standard Chartered MF without the hassles of filling application forms. You can switch your monies online from one scheme to another in the same fund family without any hassles. Systematic Investment plans (SIP): SIP allows you to invest a certain sum of money over a period of time periodically. Principal MF. Redemption: In addition to giving hassle-free paperless redemption. HDFC MF. Franklin Templeton MF. JM MF.order status tracking. Birla Sun Life MF.com offers faster liquidity.com will do the rest for you automatically investing periodically for you. Sundaram MF.com offers you various options while investing in Mutual Funds: Purchase: You may invest/purchase Prudential ICICI MF.com. 55 . ICICIdirect. Just fill in the investment amount. The money will be credited to your bank account automatically 3 days after the order placement date. the period of investment and the frequency of investing and submit. ICICIdirect. Switch: To suit your changing needs you may wish to shift monies between different schemes. ICICIdirect. Alliance MF. Systematic withdrawal plan: This allows you to withdraw a certain sum of money over a period of time periodically. You can redeem the mutual fund units through ICICIdirect.

small investors do not have enough money to properly allocate their assets. This limits investment risk by reducing the 56 . Diversification A crucial element in investing is asset allocation. Funds can afford to do so as they manage large pools of money. high-level investment professionals. unless you have time to spend on researching the companies you select for your portfolio. It plays a very big part in the success of any portfolio. who will be controlling which assets are chosen to meet the funds' stated investment objectives. the primary asset you are buying is the manager.Transfer-in: You can convert your existing Mutual funds into electronic mode through a transfer-in request. When you buy a mutual fund. That is because Mutual funds hire full-time. By pooling your funds with others. you can quickly benefit from greater diversification. The managers have real-time access to crucial market information and are able to execute trades on the largest and most cost-effective scale. A good investment manager is certainly worth the fees you will pay. Good mutual fund managers with an excellent research team can do a better job of monitoring the companies they have chosen to invest in than you can. However. Mutual funds invest in a broad range of securities. ADVANTAGES OF MUTUAL FUND OR WHY INVEST IN MUTUAL FUND Professional investment management One of the primary benefits of mutual funds is that an investor has access to professional management.

Liquidity In open-ended schemes. It also uses the services of a high quality custodian and registrar. While you own just one security rather than many. you can get your money back promptly at net asset value related prices from the mutual fund itself. you still enjoy the benefits of a diversified portfolio and a wide range of services. Transparency Regulations for mutual funds have made the industry very transparent.effect of a possible decline in the value of any one security. You can track the investments that have been made on you behalf and the specific investments made by the mutual fund scheme to see where your money is going. Fund managers decide what securities to trade collect the interest payments and see that your dividends on portfolio securities are received and your rights exercised. In addition to this. Convenience and Flexibility Investing in mutual funds has it’s own convenience. Mutual fund unit-holders can benefit from diversification techniques usually available only to investors wealthy enough to buy significant positions in a wide variety of securities. Variety 57 . This allows you to easily rebalance your portfolio to respond to significant fund management or economic changes. Another big advantage is that you can move your funds easily from one fund to another within a mutual fund family. you get regular information on the value of your investment.

technology stocks. LIMITATION OF MUTUAL FUND 1. TAX BENEFITS There are tax benefits to be delivered from investing in Mutual Fund. NATURE OF THE SCHEME AND MARKET RISK: 58 . Income distribution of equity-oriented funds are exempt from taxed consessional rates of tax are applicable on capital gains from unit of Mutual Fund RETURN POTENTIAL Over a medium to long-term. LOW INVESTMENT It is possible to invest in small amount as and when the investors have surplus funds to invest. You can find a mutual fund that matches just about any investing strategy you select. Mutual Fund have potential to provide a Higher return as they invest in a diversified basket of selected securities. The greatest challenge can be sorting through the variety and picking the best for you.There is no shortage of variety when investing in mutual funds. bonds or a mix of stocks and bonds. WELL REGULATED All Mutual Fund are registered with SEBI (Stock Exchange Board Of India) And they function with in The provision of strict regulation designed to protect the interest of investors. There are funds that focus on blue-chip stocks.

The mutual fund schemes can be classified according to both their investment objective (like income. Equity scheme provides higher returns in the form of capital appreciation and carries more risk as risk and return go together. registrar fee. whatever the age. 2. An individual can revise his portfolio immediately according to his expectation but in case of Mutual Fund he has no control. To do this one must know the different types of funds that cater to investor needs. and the asset management fee. Types of Mutual Funds Getting a handle on what's under the hood helps you become a better investor and put together a more successful portfolio. risk tolerance and return expectations. Thus a scheme investing mainly in shares and partly in e.Investing money in share is more risky then in debentures. These expenses have a ceiling limit of 3 percent of the net assets in the respective scheme per year. equity schemes is more risky than a scheme. 3.e. the investor has no control over the securities bought and sold. financial position. Where as pure income scheme provides lower returns and risk. INVESTOR: In case of Mutual Fund. HIGH CHARGES: Mutual Fund charges regular expenses like custodian fee. investor has to choose which scheme is better and meets his objective.g. income scheme. Thus. 59 . growth. Balanced Scheme is more risky than a scheme which invests mainly in debentures i. which invests partly in shares and partly in debentures (Balanced Scheme). Unsystematic risk can be reduced through a well-diversified portfolio but systematic risk remains there. tax saving) as well as the number of units (if these are unlimited then the fund is an open-ended one while if there are limited units then the fund is close-ended).

the issuing company directly takes the responsibility of providing an entry and an exit. The advantages of open-ended funds over close-ended are as follows: Any time exit option. Any time entry option. Investors can buy or sell units at NAV-related prices from and to the mutual fund on any business day. BY STRUCTURE OPEN-ENDED SCHEMES CLOSE-ENDED SCHEMES  INTERVAL SCHEMES Open-ended schemes Open-ended schemes do not have a fixed maturity period. Such funds can issue and redeem units any time during the life of a scheme. After that such schemes cannot issue new units except in case of bonus or rights issue. These schemes have unlimited capitalization. you can buy or sell units of the scheme on the stock exchanges where they are listed. after the initial issue. Hence. an open-ended fund allows one to enter the fund at any time and even to invest at regular intervals. signature verifications and bad deliveries. Open-ended schemes are preferred for their liquidity. unit capital of open-ended funds can fluctuate on a daily basis. This provides ready liquidity to the investors and avoids reliance on transfer deeds. Investors can buy into these funds during the period when these funds are open in the initial issue. The market price of 60 .A. open-ended schemes do not have a fixed maturity. However. there is no cap on the amount you can buy from the fund and the unit capital can keep growing. Close-ended schemes Close-ended schemes have fixed maturity periods. These funds are not generally listed on any exchange.

INTERVAL SCHEMES These combine the features of open-ended and close-ended schemes. B. Some close-ended schemes give you additional option of selling your units directly to the Mutual Fund through periodic repurchase Aetna related prices. You can directly invest in the scheme at the time of initial issue and thereafter you can buy sell the units of the scheme on he stock externs in which they are listed. BY INVESTMENT OBJECTIVE GROWTH SCHEME FIXED INCOME SCHEMES   BALANCED SCHEMES MONEY MARKET SCHEMES GROWTH SCHEME Growth funds primarily look for growth of capital with secondary emphasis on dividend. The market price at the stock exchange could vary foam the scheme’s NAV (Net Asset Value) on account of demand and supply situation. unit holder’s expectation and other market factors. They may be traded on the stock exchange or may be open for sale or redemption during predetermined intervals at NAV related prices. investors’ expectations and other market factors Schemes that have stipulated maturity period (ranging from 2 to 5 years) are called close-ended schemes.the units could vary from the NAV of the scheme due to demand and supply factors. Such funds invest in shares with a potential for 61 . SEBI regulations ensure that at least one of the exit routes is provided to the investors.

These funds invest in corporate bonds or government-backed mortgage securities that have a fixed rate of return. These scheme normally invest majority of there funds in equities and are willing to bear short-term decline in value for possible future appreciation. Growth funds generally incur higher risks than income funds in an effort to secure more pronounced growth. High-yield funds. Aim to provide capital appreciation over medium to long term. Growth funds are suitable for investors who can afford to assume the risk of potential loss in value of their investment in the hope of achieving substantial and rapid gains. These schemes are not for investors seeking regular income or needing their money back in short term. which seek to maximize yield by investing in lower-rated bonds of longer maturities. funds vary greatly in their stability of principal and in their dividend yields.  Investors seeking growth over long-term. Fixed-income funds are 62 .growth and capital appreciation. and hence growth funds provide low current income. Some growth funds concentrate on one or more industry sectors and also invest in a broad range of industries. They invest in well-established companies where the company itself and the industry in which it operates are thought to have good long-term growth potential. Some fixed-income funds seek to minimize risk by investing exclusively in securities whose timely payment of interest and principal is backed by the full faith and credit of the Indian Government. Within the fixed-income category. entail less stability of principal than fixed-income funds that invest in higher-rated but lower-yielding securities. They are not suitable for investors who must conserve their principal or who must maximize current income. Idea for:  Investor in their prime earning years. FIXED INCOME SCHEME Fixed income funds primarily look to provide current income consistent with the preservation of capital.

only the yield fluctuates. Although not insured. With yields that are generally competitive with . short-term. they are an attractive alternative to bank accounts.suitable for investors who want to maximize current income and who can assume a degree of capital risk in order to do so. Idea for:  Investor looking for a combination of income and moderate growth. these funds provide a very high stability of principal while seeking a moderate to high current income. Idea for:  Retired people and others with a need for capital stability and regular income.and usually higher than -. In a rising stock market. Money can be withdrawn any time without penalty. They invest in both shares and fixed income securities in the proportion indicated in their offer documents. or fall equally when he market falls. short-term debt securities of agencies of the Indian Government. they offer several advantages.  Investors who need some income to supplement their earning. virtually risk-free. top-rated money market 63 . money market funds invest only in highly liquid. MONEY MARKET SCHEME For the cautious investor. Because of their short-term investments. BALANCED SCHEMES Aim to provide both growth and income by periodically distributing a part of income and capital gain they earn. They invest in highly liquid. banks and corporations and Treasury Bills. money market mutual funds are able to keep a virtually constant unit price. Therefore.yields on bank savings account. the NAV of these schemes may not normally keep pace.

This is made possible because the government offer tax incentives for investment in specified avenues. 64 . certificates of deposits. These schemes generally invest in safer.instruments. depending upon the interest rates prevailing C. Return on these schemes may fluctuate. Money market funds are suitable for investors who want high stability of principal and current income with immediate liquidity. commercial paper and inter-bank call money. short-term instruments as treasury bills. preservation of capital and moderate income. Aim to provide easy liquidity. Idea for:  Investors seeking tax rebates. OTHER SCHEMES TAX SAVING SCHEME Specialty/Sector Funds   GILT FUND LIQUID (CASH) FUND TAX SAVING SCHEMES These schemes offer tax rebates to the investors under tax laws as prescribed from time to time. For example: Pension Scheme Recent amendments to the Income Tax Act provide further opportunities to the investors to save capital gains by investing in Mutual Funds.

other specialty funds such as index funds give investors a broadly diversified portfolio and attempt to mirror the performance of various market averages. The funds enable investors to diversify holdings among many companies within an industry. leisure. 65  . income and stability that is right for you. GILT SCHEMES The funds are invested only in Central/Government securities. You need to place your money judiciously in different schemes to be able to get the combination of growth. a more conservative approach than investing directly in one particular company. While sector funds restrict holdings to a particular industry. Best suited for medium-long term investors who are averse to risk. They are not suitable for investors who must conserve their principal or maximize current income.Specialty/Sector Funds These funds invest in securities of a specific industry or sector of the economy such as health care. This category includes index schemes that attempt to replicate the performance of a particular index such as BSE (Bombay Stock Exchange) Sensex or the NSE (National Stock Exchange) 50. technology. Sector funds offer the opportunity for sharp capital gains in cases where the fund's industry is "in favor" but also entail the risk of capital losses when the industry is out of favor. or industry specific schemes (which invest in specific industries) or sectoral scheme (which invest exclusively in segments such as “A” Group shares. utilities or precious metals.) Keep in mind that any one scheme may not meet all your requirements for all time. Index funds generally buy shares in all the companies composing the BSE Sensex or NSE Nifty or other broad stock market indices. No principal risk on the product.

The criteria broadly deal with sufficient experience. was established in 1946 and is one of the India well known Financial Services Companies. For example. It plays a key role in the running of a Mutual Fund and it operates under the supervision and guidance of the trustee. Ideal for corporate. has been appointed as the investment manages Kothari Pioneer Mutual Fund and operates its various schemes under the provisions of the investment Management Agreement entered into with Kothari Pioneer Mutual Fund on July 29. The AMC can be a private or public limited company either listed or not. (ITI).g. To promote the Mutual Fund.  The structure and organization of Mutual Funds as per SEBI guidelines is as follows: (a) Sponsor Sponsor is the company which sets up the Mutual Fund e. The Investment Trust Of India (Pvt.LIQUID (CASH) FUNDS These funds invest in very short-term instruments. Those who qualify these criteria are permitted by SEBI to setup Mutual Funds. Kothari Pioneer Mutual Fund have sponsor Pioneer Investment Management. (b) Asset Management Company (AMC) AMC manages the funds of various Schemes: AMC employs a large number of professional for investment and research. and business houses.1993. Inc.) Ltd. The AMC may be a new or existing. and past record in terms of fair dealing & integrity. net worth. USA and the Investment Trust Of India Ltd. should have a 66 . Period of investment may as low as one day. Kothari Pioneer AMC Ltd. institutional investors. the sponsor has to meet the criteria laid down by SEBI..

investment analysis. AMC is authorised to do business. if the following condition of SEBI are fulfilled. At least 50 percent of the Board of AMC should be independent director not connected with sponsoring organization.minimum 40 percent stake paid up in the paid-up equity of the AMC to be set up the sponsor. (2) The directors of AMC should be persons of high repute and standing having at least 10 years of professional experience in the relevant fields such as portfolio management. (c) Trustee The trustees are an important link in the working of a Mutual Fund. (3) (4) Except in the case of Bank sponsored AMC where the Prior concurrence of RBI is required. Trustees are people with long experience and who have earned a name for themselves for integrity and excellence in their fields. The Memorandum and Articles Of Association of the AMC Company should have the approval of SEBI. will appoint another AMC or liquidate the Mutual Fund as may be necessary with in there months of withdrawal. Thus they carry the crucial responsibility of safe guarding the interest pf investors. 5 crore. (1) AMC. The board of trustees. They do this by constant monitoring of the 67 . The AMC should at all times have a minimum net worth of Rs. should have a sound track record. The minimum net worth of the AMC is stipulated at Rs. SEBI may withdraw the authorization granted to any AMC. if it is not serving in the intrest of incestors. 5 crore. It is the responsibility of the trustees to see that AMC always act in the best interest in the investors. of a Mutual Fund. and in financial administrator. general reputation and fairness in all other business transactions. which are already existing.

At least 50 percent of the Board of Trustee shall be independent and should not have any affiliation with the sponsoring institution or any of its subsidiaries. AMC supplies all information demanded by trustees on a regular basis i. (d) Custodian The SEBI while granting the authorization for setting up of a Mutual Fund. If the sponsor has a custodian division. This might be usually in the form of transaction cost incurred in the buying/selling of investments. The sponsor and trustee companies cannot act as custodian. SEBI has to decide the proposal within 30 days of its receipt. computerisation and other infrastructure facilities. who are responsible for the management of fund. Each scheme floated by Mutual Fund should have prior registration with SEBI. quarterly. 68 .e. failing which SEBI clearance is presumed. Establishing a separate trust company should carry out trusteeship functions.operations of the scheme. experience. The approval of Mutual Fund involves the approval of sponsor. depending on the nature of the investment. it can act for other Mutual Fund not set up by the sponsor. Mutual Funds are allowed to start and operate both open-ended and close-ended schemes. However the transaction cost varies among different instrument. qualify of service. failing within SEBI before inviting public. The custodian should be different from the AMC. The approval of any agency as custodian would depend upon its track record. trustee and custodian all together. The AMC should prepare a proportion/letter of offer foe each to decide the propsal within 30 days of its receipt. AMC. would also approve the custodian as part of the package. The trustees have to submit a six monthly report to the SEBI and an annual report to the investors in the fund. IMPLICATION OF LOAD FOR THE MUTUAL FUND INVESTOR Every investment incurs some cost. which is generally borne by the investor.

because they are paying after they are paying the service. Psychologically. advertisement. These are ENTRY LOAD: The load charged at the time of Investment is known as entry load. the load is recovered by way of charging sale rice higher than the prevailing NAV. The Net Asset Value of the scheme (s) will be calculated on a daily basis as shown below: 69 . if he loads is 5%.526 EXIT LOAD: Some AMC do not charge Entry load but they charge an exit loads. investor communication expenses etc. they deduct a load before paying out the redemption proceeds. It is meant to cover the cost that the AMC spends in the process of subscribers – commission payable to brokers.However investors investing in the Mutual Fund incurs a cost popularly known as “LOAD” This load is a charge by the fund to recover the expenses incurred by the fund on brokerage.05) = 10/ . registrar. etc. For example. investors are much more willing to pay exit loads as compared to entry loads. TYPES OF LOAD: Loads are the different on the basis of Investment. marketing or selling the scheme. NET ASSET VALUE The most important financial indicator in case of Mutual Funds is Net Asset Value (NAV).95 = 10. the selling price if the fresh units can be calculated as follows: Selling price per unit = 10/(1-. and the NAV is Rs10 per unit.

Of unit Outstanding The calculation and the periodicity of the publication of the NAV. Invest regularly. Choose the right Mutual Fund Select the ideal mix of the schemes.com brings you the same convenience while investing in Mutual funds also . Start early. Net Asset Value shall be calculated as of the close of every business day. 1) 2) 3) 4) 5) 6) Identify your investment needs. Keep your taxes in mind. (See the annexure – for NAV’s) HOW TO INVEST IN MUTUAL FUNDS. Investing in Mutual funds: ICICIdirect.Hassle free and Paperless Investing. 70 . repurchase and sale prices would be the SEBI regulation or any modifications there too as may be issued by SEBI from time to time.Market value of the scheme’s Investment+ NAV per unit = Other current Assets + Deposits – All liabilities except reserve & profits & loss Account ______________________________________________ No.

IPOs and Bonds Online: You could also invest in Initial Public Offers (IPOs) and Bonds online without going through the hassles of filling ANY application form/ paperwork. Get daily share prices of all scrips.You can invest in mutual funds without the hassles of filling application forms or any other paperwork. recent IPO listings. nifty futures and ADR prices of Indian scrips.Com There are a host of features on ICICIdirect. there are no manual processes involved. which help you. Get in-depth analyses of new IPOs issues (Initial Public Offerings) which are about to hit the market and analysis on these. and IPO analysis are few of the features. Once you place a request for investing in a particular fund. We provide you with the indices of major world markets. Features Of ICICI DIRECT. keep on top of the IPO markets. IPO calendar. prospectus/offer documents. Your bank funds are automatically debited or credited while simultaneously crediting or debiting your unit holdings. You need no signatures or proof of identity for investing.com that shall help you make informed investment decisions. 71 . Get to know the performance of your investments through online updation of MF portfolio with current NAV. You also get control over your investments with online order confirmations and order status tracking. monthly and yearly high/lows etc through Market Watch.

which is a tutorial on investments and My Research. Direct Technical Charts offer interactive charting with advanced indicators. Personal Finance: Use our Personal Finance section and get hold of tools that can help you plan your investments. retirement. Market Barometer gives you in-depth information of the weightages of shares on Nifty and Sensex. Glance through analyst recommendations using Multex Global Estimates. Analyse your risk profile through the Risk Analyzer and get a suitable investment portfolio plan using Asset Allocator. Get a bird's eye view of over 5000 companies at a single click using Company Snapshot. that helps you to research a stock better. In case. 72 . You can get weekly snapshots also. you are not too comfortable with share trading. reactions and comments from industry leaders with CEO Call. Catch interviews. Get a glimpse of the performance of various industry sectors through Industry Barometer. tax etc. Get a snapshot of the latest developments in the markets through the day using Market Commentary. Equip yourself with our barometers. try our Learning Centre. Customer Service Features: With 'ICICIdirect Customer Tools & Updates' you can trouble shoot all your problems online. Track the movement of leading scrips within a sector across 12 sectors using Market@Desktop.Get breaking news from CNBC and Reuters. Use Pick of the week which focuses on fundamental stocks with sound prospects. Catch a glimpse of News Headlines through our scrolling Direct News Headlines.

View your Digital Contract Notes instantly.com:- What so unique about ICICIdirect. Enroll yourself for various ICICIdirect Workshops Advantages Of ICICI direct. Thereby giving you control over your own trades. View your Account Statement and Bill Summary of your transactions online using bills & accounts. Independence:73 . chasing your broker for cheques or Transfer Instructions etc. writing cheques and Transfer Instructions.com? A Unique 3-in-1 account that gives you: Convenience:The 3-in-1 account integrates your banking. broking and demat accounts. but may not have been able to do so till now. across India through branch locator. This enables you to trade in shares without going through the hassles of tracking settlement cycles. Control:You can be assured that you have in fact placed an order at the price you always wanted to. Get details of ICICI Centers. You can view and change your profile or password on-line through General Profile option. View various charges through the Fee Schedule option Give your feedback or viewpoint through the Viewpoint online.Address your trading queries on-line through "Easy Mail". our sales and service offices.

Trust:ICICIdirect.Instead of transferring monies to a broker's pool or towards deposits. the organisation trusted by millions of Indians 74 .com. you can manage your own demat and bank accounts when you trade through ICICIdirect.com comes to you from ICICI.

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