Comparative Analysis of services provided by Religare Securities Ltd.

and other Broking Houses in Noida

Submitted in partial fulfilment of the requirements For the award of the degree of

Master of Business Administration In Software Enterprise Management Under the guidance of

Corporate Guide: Mr. Shachin kumar sharma (Branch Manager) Faculty Guide: Ms. Mary Jacintha (CDAC-Noida)

Submitted by Nirmal Kumar Lakhera

Centre for Development of Advanced Computing, Noida Affiliated to Guru Gobind Singh Indraprastha University Kashmere Gate, Delhi - 110006

DECLARATION
I hereby declare that this Project Report entitled comparative analysis of services provided by religare and other broking house in noida submitted by me to the GGSIPU Delhi, is a bonafide work undertaken by me and it is not submitted to any other University or Institution for the award of any degree diploma / certificate or published any time before.

Name: ________________________

___________________________ Signature of the Student

Enrollment No: _________________ Semester: ______________________ Date: _________________________

Project Report Approval Sheet

It is certified that the Project entitled comparative analysis of services provided by religare and other broking house in noida was completed by Mr. Nirmal Kumar Lakhera under my guidance during the period i.e. 1st June to 31th July. The same is hereby approved.

Mr. Sachin kumar sharma Branch Head Religare securities Ltd.

ABSTRACT

Aim of the project A good broker system must be able to cope with an extremely complex and dynamic environment. Microstructure of the stock market in which brokers work is highly dynamic and volatile. Many stocks are available to be bought and sold, each exhibiting its own patterns and characteristics that are highly unpredictable. With so many options and considerations that need to be taken into account, it is an extremely arduous task for a broker to investigate aspects of the stock market and consistently provide effective advice to their clients. Thus, brokers perform their day-to-day tasks with the aid of a broker system. Such a system should provide tools for interacting with exchanges and performing analysis. As a consequence, these broker systems are quite large and complicated by themselves This research aims is to analysis Stock broker on the basis of their services, products, growth, and their subsidiaries. Because Stockbrokers are one of the main participants in stock exchanges worldwide, they often act as an agent for their clients, making trades on their behalf. They also act as advisors, providing suggestions to their clients on what stocks to buy and sell.

My role in the project will encompass the following:

1. Study basics of Investment 2. Study and Analysis of services provided religare securities ltd. 3. Study and analysis of services provided by other broking house in noida.

4. Comparison of services provided by religare and other broking houses in noida 5. Study about the cross selling of demat account.

6. Concluding and recommending procedures to improve upon the trading options.

ACKNOWLEGDEMENT

It gives me pleasure to present this project report, which is an outcome of the study Comparative research analysis of the services provided by Religare securities Ltd. with other broking houses. Completing a task is a never a one-man effort. It is often the result of valuable contribution of a number of individuals in a direct or indirect manner that helps on shaping and achieving an objective. I wish to express my sincere gratitude to innumerable number of people who have been associated with me throughout this project. I feel blessed to have the opportunity of expressing my hearty gratitude to the following personalities, without the help of whom my project could not have been hatched. Source of firstly I would like to acknowledge my sincere thanks to Mr. Sachin kumar sharma (Branch Head) who gave me an opportunity to carry out this project and had been a constant inspiration. I am grateful to my faculty guide Ms.Mary jachinta for the Summer Internship Project, for their regular guidance without which my project report would not have been completed. I am also thankful to the other staff member of Religare securities ltd. for their continuous motivation throughout this program, which really helped me in completing this project.

I also like to thank our Head Dr. R.K.Singh, who promoted us to do our Summer Internship Program with Religare Securities Ltd. I also like to thank all our faculties who have taught us and have shared their experience with us which has helped us in doing our project.

TABLE OF CONTENTS
PARTICULARS I CHAPTER-1 INTRODUCTION TO RELIGARE 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 ABOUT THE COMPANY VISION AND MISSION GROUP STRUCTURE JOINT VENTURE MANAGEMENT TEAM ORGANIZATION STRUCTURE SERVICES BENEFITS OF RELIGARE SIGNIFICANCE OF STUDY OBJECTIVE OF THE STUDY SCOPE OF STUDY PAGE NUMBER 10-20 10 11 12 13 14 15 16 18 20 20 20

II

CHAPTER-2 THEORETICAL FRAMEWORK AND REVIEW OF LITERATURE 2.1 2.2 2.3 INDIAN STOCK MARKET INVESTMENT BASICS INTRODUCTION OF DEMATE ACCOUNT

22-34

22 26 27

2.4 2.5 2.6 2.7 III

HOW TO INVEST IN STOCK MARKET TIPS FOR BEGINNERS IN STOCK MARKET DEMATERIALISATION RMATERIALISATION

30 31 31 34 36-44

CHAPTER-3 COMPARATIVE ANALYSIS OF SEVICES PROVIDED BY RELIGARE AND OTHER BROKING HOUSES IN NOIDA 3.1 STUDY OF BROKING HOUSE IN NOIDA 3.2 MY RESPONSIBILTY IN ORGANIZATION CHAPTER-4 DATA COLLECTION AND RESEARCH METHODOLOGY CHAPTER-5 ANALYSIS AND INTERPRETATION CHAPTER-6 CHAPTER-7 ANNEXURE BIBLOIGRAPHY CONCLUSION RECOMMNDATIONS

IV V VI VII VIII IX

37 42 42-49 49-56 58 59 60 63

LIST OF TABLES

TABLE 2.1 FIGURES 1.1 1.2 2.1

PAGE NUMBERS

LIST OF FIGURES
PAGE NUMBERS

Difference between bank account and demat account

28

2.2 Similarity between bank account and demat account Structure of company 5.1&5.2 organization Comparative study of broking houses Logos of Dematerialisation process Rematerialisation process Constructive factor of tale calling Balanced portfolio Conservative portfolio Market share study Interaday brokerage chart Delivery charges chart Account opening charges chart
7

28 15 51-52 20 32 34 42 50 50 53 54 55 56

2.2
3.1 3.2 3.3

5.1 5.2 5.3 5.4

EXECUTIVE SUMMARY

The project titled comparative study of services provided by Religare securities ltd and other broking houses in noida has been carried out for Religare securities limited. There is growing competition between brokerage firms in post reform India. For investor it is always difficult to decide which brokerage firm to choose. Research was carried out to find which brokerage house people prefer and to figure out what people prefer while investing in stock market. This study suggest that people are reluctant while investing in stock and commodity market due to lack of knowledge

Main purpose of investment is returns and liquidity, commodity market is less preferred by investors due to lack of awareness. The major findings of this study are that people are interested to invest in stock market but they lack knowledge. Through this report we were also able to understand, what are our Companys (Religare securities Ltd.) positive and strong points, on the basis of which we come to know what can be the basis of pitching to a potential client. We also gave suggestions to the company, what improvement can be done to our product.

I hope Religare securities Ltd. will recognize this as well as take more references from this project report.

Chapter 1 Introduction to Religare

1. INTRODUCTION

10

1.1 About the company:Religare is a diversified financial services group of India offering a multitude of investment options. The diverse bouquet of financial services which Religare offers can be broadly clubbed across three key verticals - Retail, Institutional and Wealth spectrums. The services extend from asset management, Life Insurance, wealth management to equity broking, commodity broking, investment banking, lending services, private equity and venture capital. Religare has also ventured into the alternative investments sphere through its holistic arts initiative and Film fund. With a view to expand, diversify and introduce offerings benchmarked against global best practices, Religare operates in the life insurance space under 'Aegon Religare Life Insurance Company Limited' and wealth management under the brand name 'Religare Macquarie Private Wealth'

NAME
Religare is a Latin word that translates as 'to bind together'. This name has been chosen to reflect the integrated nature of the financial services the company offers.

SYMBOL
The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is considered good fortune to find a four-leaf clover as there is only one four-leaf clover for every 10,000 three-leaf clovers found. For us, each leaf of the clover has a special meaning. It is a symbol of Hope. Trust. Care. Good Fortune. For the world, it is the symbol of Religare. The first leaf of the clover represents Hope. The aspirations to succeed. The dream of becoming. Of new possibilities. It is the beginning of every step and the foundation on which a person reaches for the stars. The second leaf of the clover represents Trust. The ability to place ones own faith in another. To have a relationship as partners in a team. To accomplish a given goal with the balance that brings satisfaction to all, not in the binding, but in the bond that

11

is built. The third leaf of the clover represents Care. The secret ingredient that is the cement in every relationship. The truth of feeling that underlines sincerity and the triumph of diligence in every aspect. From it springs true warmth of service and the ability to adapt to evolving environments with consideration to all. The fourth and final leaf of the clover represents Good Fortune. Signifying that rare ability to meld opportunity and planning with circumstance to generate those often looked for remunerative moments of success. Hope. Trust. Care. Good Fortune. All elements perfectly combine in the emblematic and rare, four-leaf clover to visually symbolize the values that bind together and form the core of the Religare vision.

Accent usage The diacritical tilde mark ( ) over the letter A in the Religare typeface indicates a palatal emphasis sound of the letter A.

1.2 Vision and mission

Vision - To build Religare as a globally trusted brand in the financial services domain and present it as the Investment Gateway of India'. Mission - Providing complete financial care driven by the core values of diligence and transparency

1.3 Group structure:

Religare Enterprises Limited Religare Securities Limited

Religare Finvest Limited Lending and Distribution business Proposed Custodial business

Equity Broking Online Investment Portal

12

Portfolio Management Services Depository Services Commodity Broking Religare Insurance Broking Limited

Religare Commodities Limited

Life Insurance General Insurance Reinsurance

Religare Capital Markets Limited

Investment Banking Proposed Institutional Broking

Religare Arts Initiative Limited

Business of Art Gallery launched - arts-i

Religare Realty Limited In house Real Estate Management Company Religare Hichens Harrison**

Religare Venture Capital Limited Private Equity and Investment Manager

Corporate Broking Institutional Broking Derivatives Sales Corporate Finance

Religare Asset Management*

* Religare Asset Management Company (P) Limited is a wholly owned subsidiary of Religare Securities Limited (RSL), which in turn is a 100% subsidiary of Religare Enterprises Limited. ** Religare Hichens, Harrison plc. (RHH) is a part of Religare Enterprises Limited (REL) a leading integrated financial services group of India. Hichens, Harrison & Co. plc. (HH), established in 1803 is Londons oldest brokerage and investment firm with a global footprint. Post its acquisition through RELs indirect subsidiary - Religare Capital Markets International (UK) Limited, HH has been rechristened as Religare Hichens Harrison plc.

1.4 Our Joint Ventures

AEGON Life Religare Life Insurance (AEGON as a Company partner)

Insurance

business

13

www.aegonreligare.com Religare Macquarie Wealth Management Ltd.

Private Wealth business (Macquarie, Australian Financial Services major as a partner) http://www.religaremacquarie.com

Vistaar

Religare

-The

Film

Fund

India's first SEBI approved Film Fund (Vistaar as a partner) http://www.vistaarreligare.com/ Milestone Religare Private Equity Fund

Milestone, one of India's premier independent fund houses and Religare have come together and through the JV have formed an entity, Milestone Religare Investment Advisors Private http://www.milestonereligare.com/ Limited.

1.5 Religare management team:Central Leadership Team

Mr. Sunil Godhwani CEO & Managing Director, Religare Enterprises Limited Mr. Shachindra Nath Group Chief Operating Officer, Religare Enterprises Limited Mr. Anil Saxena Group Chief Finance Officer, Religare Enterprises Limited

Board of Directors - Religare Enterprises Limited

14

Mr. Malvinder Mohan Singh Non Executive Chairman Mr. Sunil Godhwani Managing Director & Group CEO Mr. Shivinder Mohan Singh Non Executive Director Mr. Harpal Singh Non Executive Director Mr. Deepak Ramchand Sabnani Independent Director Mr. Padam Bahl Independent Director Mr. J. W. Balani Independent Director Ms. Sunita Naidoo Independent Director Mr. R. K. Shetty Alternate to Mr. J. W. Balani Capt. G. P. S. Bhalla Alternate to Mr. Deepak Sabnani

1.6 OUR ORGANIZATIONAL STRUCTURE

15

Fig1.1

1.7 Religare securities ltd services:

The services provided by Religare securities Ltd are E-Broking
16

Religare provides softwares to customers for online trading on BSE, NSE, F&O, MCX & NCDEX.different software product are: Religare online portal User-friendly browser for investors Easy online trading platform Works in proxy and firewall system set up Integrated Back office: Access account information anytime, anywhere Streaming quotes Refresh static rates when required Multiple exchanges on single screen Online fund transfer facility

Religare LG Diet Application based ideal for traders. Multiple exchanges on single screen User friendly & simple navigation BSC, NSC, F&O, MCX & NCDEX

Investment Advisory Services To derive optimum returns from equity requires professional guidance and advice. Professional assistance will always be beneficial in wealth creation. Investment decisions without expert advice would be like treating ailment without the help of a doctor.

Expert Advice: Their expert investment advisors are based at various branches

across India to provide assistance in designing and monitoring portfolios.

Timely Entry & Exit: Their advisors will regularly monitor customers

investments and guide customers to book timely profits. They will also guide them in adopting switching techniques from one stock to another during various market conditions.

17

De-Risking Portfolio: A diversified portfolio of stocks is always better than

concentration in a single stock. Based on their research, They diversify the portfolio in growth oriented sectors and stocks to minimize the risk and optimize the returns. Portfolio Management Services Religare offers Portfolio management service (PMS) to address varying investment preferences. As a focused service, PMS pays attention to details, and portfolios are customized to suit the unique requirements of investors. Religare PMS currently extends six portfolio management schemes, viz Monarque, Panther, Tortoise, Elephant, Caterpillar and Leo. Each scheme is designed keeping in mind the varying tastes, objectives and risk tolerance of our investors. Our Schemes Monarque The portfolio aims at the ultra High net worth income(HNI) category and is structured to provide higher returns by taking aggressive positions across sectors and market capitalizations. Panther The Panther is suitable for the "High Risk High Return" investor with a strategy to invest across sectors. Tortoise The Tortoise is suitable for the "Medium Risk Medium Return" investor with a strategy to invest in companies which have consistency in earnings, growth and financial performance. The Tortoise portfolio aims to achieve growth in the portfolio value over a period of time by way of careful and judicious investment in fundamentally sound companies having good prospects.

Elephant

18

The Elephant portfolio aims to generate steady returns over a longer period by investing in Securities selected only from BSE 100 and NSE 100 index. This plan is suitable for the Low Risk Low Return investor with a strategy to invest in blue chip companies, as these companies have steady performance and reduce liquidity risk in the market. Caterpillar The Caterpillar portfolio aims to achieve capital appreciation over a long period of time by investing in a diversified portfolio. This scheme is suitable for investors with a high risk appetite. The investment strategy would be to invest in scrips which are poised to get a rerating either because of change in business, potential fancy for a particular sector in the coming years/months, business diversification leading to a better operating performance, stocks in their early stages of an upturn or for those which are in sectors currently ignored by the market.

Leo Leo is aimed at retail customers and structured to provide medium to long-term capital appreciation by investing in stocks across the market capitalization range. This scheme is a mix of moderate and aggressive investment strategies.

1.8 BENEFITS OF RELIGARE We serve you with a diligent, transparent & process driven approach and ensure that your money gets the care it deserves.

No experts, only expertise. PMS brought to you by Religare with its solid reputation of an ethical and scientific approach to financial management. While we offer you the services of a dedicated Relationship Manager who is at your service 24x7, we do not depend on individual expertise alone. For you, this means lower risk, higher dependability and unhindered continuity. Moreover, you are not limited by a particular individuals investment style.

19

No hidden profits. We ensure that a part of the broking at Religare Portfolio Management Services is through external broking houses. This means that your portfolio is not churned needlessly. Using more broking firms gives us access to a larger number of reports and analysis, enabling us to make better, more informed decisions. Furthermore, your portfolio is customized to suit your investment objectives. Daily disclosures. Religare Portfolio Management Services gives you daily updates on your investment. You can pinpoint where your money is being invested, 24x7, instead of waiting till the end of the month to keep track. No charge till you profit*.So sure are we of our approach to Portfolio Management that we do not charge you for our services, until your investments start showing profit. With customized investment options Religare Portfolio Management Services invites you to invest across five broad portfolios to suit your investment needs. * Except fixed administrative charges. OUR LOGOS Logo Logo

Fig 1.2

1.9 Significance of Study

20

In most industrialized countries, a substantial part of financial wealth is not managed directly by savers, but through a financial intermediary, which implies the existence of an agency contract between the investor (the principal) and a broker or portfolio manager (the agent). Therefore, delegated brokerage management is arguably one of the most important agency relationships intervening in the economy, with a possible impact on financial market and economic developments at a macro level.

1.10 Objective of the Study

The project includes a detail study of portfolio management in share market. The following are the main objective of the project
1. Study of the basics of Indian stock market

2. Study and Analysis of services provided religare securities ltd. 3. Study and analysis of services provided by other broking house in noida. 4. Comparison of services provided by religare and other broking houses in noida 5. Study about the cross selling of demat account. 6. Concluding and recommending procedures to improve upon the trading options.

1.11 Scope of Study

In most of the metros, people like to put their money in stock options instead of dumping it in the bank-lockers. Now, this trend pick pace in small but fast developing cities like Chandigarh, Gurgaon, Jaipur, Noida etc. My research is based on the Noida region. As the per-capita-income of the city is on the higher side, so it is quite obvious that they want to invest their money in profitable ventures. On the other hand, a number of brokerage houses make sure the hassle free investment in stocks. Asset management firms allow investors to estimate both the expected risks and returns, as measured statistically.

21

Chapter 2 Theoretical Framework and Review of Literature

22

Basics of Indian Stock Market

2.1 Indian Stock Market Share or stock is a document issued by a company, which entitles its holder to be one of the owners of the company. A share is issued by a company or can be purchased from the stock market. Share market where dealing of securities is done is known as share market. There are two ways in which investors gets share from market: Primary market: markets in which new securities are issued are known as primary market. This is part of the financial market where enterprises issue their new shares and bonds. It is characterized by being the only moment when the enterprise received money in exchange for selling its financial assets. Secondary Market: Market in which existing securities are dealt is known as secondary market. The market where securities are traded after, they are initially offered in the primary market. Most trading is done in the secondary market. The Stock Market is an invisible market that trades in stocks of various companies belonging to both the public and private sectors. The Indian Stock Market is often referred to as the Share Market since it deals primarily with shares of various companies. A Stock Exchange is a place where the stocks are listed and traded. Such exchanges may be a corporation or mutual organization which specializes in the business of introducing the sellers with the buyers of stocks and securities. The Indian Stock Market in India comprises of two main stock exchanges:

23

 Bombay Stock Exchange (BSE) National Stock Exchange (NSE)

BSE The Bombay Stock Exchange (BSE) was established in 1875.The BSE India Stock Exchange serves as the most important for companies to raise money. The chief function of the Stock Market of India is to help raise money as capital for the growth and expansion of various private and public sector enterprises. Besides, the Stock Market of India provides able assistance to the individual investors through daily updates on current position of the stocks of the respective companies that are enlisted in the Stock Index in which the movement of prices in a section of the market are captured in price indices. The popular acronym for Stock Index is Sensitive index or sensex. Moreover, the liquidity provided by the exchange enables the investors to sell securities owned by them easily and quickly. Hence a person, who is subjected to sudden dearth of funds, can immediately sell his shares for cash in India Stock Market. The BSE Sensex, also known as BSE 30 is a widely used market index not only in India but across Asia. In terms of volume of transactions, it is ranked among the top five stock exchanges in the world. NSE The National Stock Exchange of India Ltd. (NSE), set up in the year 1993, is today the largest stock exchange in India and a preferred exchange for trading in equity, debt and derivatives instruments by investors. NSE has set up a sophisticated electronic trading, clearing and settlement platform and its infrastructure serves as a role model for the securities industry. The standards set by NSE in terms of market practices; products and technology have become industry benchmarks and are being replicated by many other market participants.

24

NSE provides a screen-based automated trading system with a high degree of transparency and equal access to investors irrespective of geographical location. The high level of information dissemination through the on-line system has helped in integrating retail investors across the nation. The exchange has a network in more than 350 cities and its trading members are connected to the central servers of the exchange in Mumbai through a sophisticated telecommunication network comprising of over 2500 VSATs. NSE has around 850 trading members and provides trading in equity shares and debt securities. Besides this, NSE provides trading in various derivative products such as index futures, index options, stock futures, stock options and interest rate futures. In addition to these organizations there are other organizations highlighting on the share trading in the Indian Stock Market are: Securities and Exchange Board of India (SEBI) NSDL CDSL The Nifty and the Sensex are the indicators which are the parameters denoting the prices of the stocks of the major companies of the NSE and the BSE respectively. Stock Broking Sector in India The Indian broking industry is one of the oldest trading industries that has been around even before the establishment of the BSE in 1875. Despite passing through a number of changes in the post liberalization period, the industry has found its way towards sustainable growth. In this section our purpose will be of gaining a deeper understanding about the role of the Indian stock broking industry in the countrys economy. What is meant by a Stock Exchange? The Securities Contract (Regulation) Act, 1956 [SCRA] defines Stock Exchange as anybody of individuals, whether incorporated or not, constituted for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities. Stock exchange could be a regional stock exchange whose area of operation/jurisdiction is specified

25

at the time of its recognition or national exchanges, which are permitted to have nationwide trading since inception. NSE was incorporated as a national stock exchange.

Which are the securities one can invest in? Shares Government Securities Derivative products commodity Units of Mutual Funds etc.

2.2 Equity/Share Total equity capital of a company is divided into equal units of small denominations, each called a share. The holders of such shares are members of the company and have voting rights. What is an Index? An Index shows how a specified portfolio of share prices is moving in order to give an indication of market trends. It is a basket of securities and the average price movement of the basket of securities indicates the index movement, whether upwards or downwards. How to calculate the index? The Sensex value is this value relative to a base period. The Base period is 1978-79 and the Base value is 100. The Free-float market Cap is divided by a number called the index divisor to arrive at the right value of Sensex. This divisor factors in changes in scrips, dividend paid, etc right from the base period. A simple way to find the current index divisor would be calculating the previous day's free-float market cap / previous day's sensex. Here's an example to calculate the sensex

26

Free Float Market cap (prev day) = 320000 cr Sensex Value = 16000 Div = 320000 / 16000 = 20 Current Free Float Market Cap = 336000 Current Sensex Value = 336000/20 = 16800

2.2 INVESTMENT BASICS What are various options available for investment?
One may invest in: Physical assets like real estate, gold/jewellery, commodities etc. Financial assets such as fixed deposits with banks, small saving instruments with post offices, insurance/provident/pension fund etc. or securities market related instruments like shares, bonds, debentures etc.

What are various Short-term financial options available for investment?

Broadly speaking, savings bank account, money market/liquid funds and fixed deposits with banks may be considered as short-term financial investment options: Savings Bank Account It is often the first banking product people use, which offers low interest (4%5% p.a.), making them only marginally better than fixed deposits. Money Market or Liquid Funds These are a specialized form of mutual funds that invest in extremely shortterm fixed income instruments and thereby provide easy liquidity. Unlike most mutual funds, money market funds are primarily oriented towards protecting your capital and then, aim to maximize returns Fixed Deposits with Banks These are also referred to as term deposits and minimum investment period for bank FDs is 30 days. Fixed Deposits with banks are for investors with low risk appetite, and may be considered for 6-12 months investment period as normally

27

What are various Long-term financial options available for investment?

Post Office Savings Schemes, Public Provident Fund, Company Fixed Deposits, Bonds and Debentures, Mutual Funds etc. Post Office Savings: Post Office Monthly Income Scheme is a low risk saving instrument, which can be availed through any post office. Public Provident Fund: A long term savings instrument with a maturity of 15 years and interest payable at 8% per annum compounded annually. A PPF account can be opened through a nationalized bank at anytime during the year and is open all through the year for depositing money. Tax benefits can be availed for the amount invested and interest accrued is tax-free. A withdrawal is permissible every year from the seventh financial year of the date of opening of the account and the amount of withdrawal will be limited to 50% of the balance at credit at the end of the 4th year immediately preceding the year in which the amount is withdrawn or at the end of the preceding year whichever is lower the amount of loan if any. Company Fixed Deposits: These are short-term (six months) to medium-term (three to five years) borrowings by companies at a fixed rate of interest which is payable monthly, quarterly, semi10 annually or annually. They can also be cumulative fixed deposits where the entire principal along with the interest is paid at the end of the loan period. Bonds: It is a fixed income (debt) instrument issued for a period of more than one year with the purpose of raising capital. The central or state government, corporations and similar institutions sell bonds. A bond is generally a promise to repay the principal along with a fixed rate of interest on a specified date, called the Maturity Date. Mutual Funds: These are funds operated by an investment company which raises money from the public and invests in a group of assets (shares, debentures etc.), in accordance with a stated set of objectives. It is a substitute for those who are unable to invest directly in equities or debt because of resource, time or knowledge constraints

28

2.3 Introduction to Demat account

Definition Demat account is a safe and convenient means of holding securities just like a bank account is for funds. Today, practically 99.9% settlement (of shares) takes place on demat mode only. Thus, it is advisable to have a Beneficiary Owner (BO) account to trade at the exchanges. Bank Account Vs Demat Account S. No. Basis Of Differentiatio n Form of Holdings/Dep osits Used for Facilitates Where to open Requirement of PAN Number Interest accrual on holdings Minimum balance requirement Either or Survivor facility

Bank Account

Demat Account

1. 2. 3.

Funds Safekeeping of money Transfer of money (without actually handling money) A bank of choice

Securities Safekeeping of shares Transfer of shares (without actually handling shares) A DP of choice (can be a bank) Mandatory (effective from April 01, 2006) No interest accruals on securities held in demat account

4.

5.

Not Mandatory Interest income is subject to the applicable rate of interest AQB* maintainance is specified for certain bank accounts Available

6.

7.

No such requirement

8.

Not available

*AQB - Average Quarterly Balance Table 2.1

29

S. No. 1. 2.

BASIS OF SIMILARITY Security and Convenience Number of accounts Transfer of deposits (funds or securities) Physical transfer of money/securities Nomination Facility

PARTICULARS Both are very safe and convenient means of holding deposits/securities No legal barrier on the number of bank or demat accounts that can be opened Funds/securities are transferred only at the instruction of the account holder Physical transfer of money/securities is not involved Available

3.

4.

5.

Table 2.2

Benefits Of Demat Account 1. A safe and convenient way of holding securities (equity and debt instruments both). 2. Transactions involving physical securities are costlier than those involving dematerialised securities (just like the transactions through a bank teller are costlier than ATM transactions). Therefore, charges applicable to an investor are lesser for each transaction. 3. Securities can be transferred at an instruction immediately. 4. Increased liquidity, as securities can be sold at any time during the trading hours (between 9:55 AM to 3:30 PM on all working days), and payment can be received in a very short period of time. 5. No stamp duty charges. 6. Risks like forgery, thefts, bad delivery, delays in transfer etc, associated with physical certificates, are eliminated. 7. Pledging of securities in a short period of time. 8. Reduced paper work and transaction cost. 9. Odd-lot shares can also be traded (can be even 1 share). 10. Nomination facility available. 11. Any change in address or bank account details can be electronically intimated to all companies in which investor holds any securities, without having to inform each of them separately. 12. Securities are transferred by the DP itself, so no need to correspond with the companies.

30

13. Shares arising out of bonus, split, consolidation, merger etc. are automatically credited into the demat account of the investor. 14. Shares allotted in public issues are directly credited into demat account of the applicants in quick time.

2.4 How to invest in stock market?

Opening a Demat Account To start dealing in securities in electronic form, one needs to open a demat account with a DP of his choice. An investor already having shares in physical form should ensure that he gets the account opened in the same set of names as appearing on the share certificate; otherwise a new account can be opened in any desired pattern by the investor.

31

Getting started 1. Choose a DP

Documents to be attached

Passport size photographs

2. Fill up an account opening form provided by DP, and sign an agreement with DP in a standard format prescribed by the depository.

Proof of residence (POR) - Any one of Photo Ration Card with DOB / Photo Driving License with DOB / Passport copy / Electricity bill / Telephone bill

3. DP provides the investor with a

copy of the agreement and schedule of charges for his future reference.

Proof of identity (POI) - Any one of Passport copy / Photo Driving License with DOB / Voters ID Card / PAN Card / Photo Ration Card with DOB

4. DP opens the account and provides the investor with a unique account number, also known as Beneficiary Owner Identification Number (BO ID).

PAN card

Note:

The agreement required to be signed by the investor details the rights and duties of the investor and DP. DP may revise the charges by giving a 30 days prior notice.

Maximum Number of holders in a Demat Account A maximum of three persons are allowed to open a joint demat account in their names.

2.5 Tips for beginners in stock market.

1. There are no guarantees and not one single best way to invest.

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2. Make informed or knowledgeable choices by doing your research first before buying or selling stocks. Never make a decision based on your emotions and guesses. 3. You should think of a goal and a plan. How much do you want to invest? 4. Look at the value of the stock instead of the price. There is always a reason for the price. 5. Check the companies' trend. Take a look at the profits. 6. For beginners, you should focus on no more than 3 different stocks. If you have too many, you might lose focus. Never focus on just one stock because you need to diversify your portfolio to reduce risk. 7. Understand the basics of stock prices. Prices move up or down depending on future projections. 8. You will never know everything about stocks so you need to keep on learning. Even doctors are continuing to learn something new every day.

THINGS INVESTORS SHOULD KNOW ABOUT ACCOUNT OPENING AND DEMATERIALISATION Providing the bank account details at the time of account opening It is mandatory for an investor to provide his bank account details at the time of opening a demat account. This is done to safeguard investor's own interests. There are two major reasons for this: 1. The interest and dividend warrants can't be en-cashed by any unauthorized person, as the bank account number is mentioned on it. 2. It is convenient and time saving, as dividends and interests given by the companies can be directly credited to the investor's bank account (through ECS facility, wherever available). Change in bank account details It is possible for an investor to make changes to the details of his bank account. The investor must inform any change in his bank account details to his DP. This enables him to receive the cash corporate benefits (such as dividends, interests) directly into his account in time and discourages any unauthorized use by any second party. Change in the address of investor as provided to the DP Any change in your address should be immediately informed to DP. This enables DP to make necessary changes in the records and informing the concerned companies about the same. Opening multiple accounts An investor is allowed to open more than one account with existing DP or with different DPs.

33

Minimum balance of securities required in demat account There is no stipulated minimum balance of securities to be kept in a demat account. Account opening and ownership pattern of securities One must make sure to open a demat account in the same ownership pattern in which the physical securities are held. For example: If you have two share certificates, one in your individual name (say 'X') and the other held jointly with some other individual (say 'XY'), then in such a case you will have to open two different accounts in respective ownership patterns (one in your name i.e. 'X' and the other account in the name of 'XY'). Same combination of names on certificates but different sequence of names on the certificates or demat account Regulations provide that the client receives a contract note indicating details like order number, trade number, time, price, brokerge, etc. within 24 hours.of the trade. In case of any doubts about the details of the contract note, you (investor) can avail the facility provided by NSE, wherein you can verify the trades on your website www.nseindia.com/content/equities/eq_trdverify.htm. The Exchange generates and maintains an audit trail of orders/trades for a number of years.and you can counter check detais of order/trade with the Exchange. Allowing somebody else to operate your Demat account It is possible for an account holder (Beneficiary Owner) to authorize some other person to operate the demat account on his behalf by executing a power of attorney. After submitting the power of attorney to the DP, that person can operate the account on behalf of the beneficiary owner (BO).. Addition/deletion of the names of the account holders after opening the account It is not possible to make changes in the names of the account holders of a BO account. A new account has to be opened in a desired holding/ownership pattern. Closing a demat account and transfer of securities to another account with same or different DP An investor, if he wants, can also close his demat account with one DP and transfer all the securities to another account with existing or a different DP. As per a SEBI circular issued on November 09, 2005, there are no charges for account closure or transfer of securities by an investor from one DP to another Freezing/Locking a demat account The account holder can freeze his demat account for a desired time period. A frozen account prevents securities to be transferred out of (Debit) and transferred into (Credit) the account. Dematerialised shares do not have any distinctive number Dematerialised securities are fungible assets. Therefore they are interchangeable and identical.

2.6 DEMATERIALISATION
Definition Dematerialisation is the process of converting physical shares (share certificates) into an electronic form. Shares once converted into dematerialised form are held in a Demat account.
34

Dematerialisation Process An investor having securities in physical form must get them dematerialised, if he intends to sell them. This requires the investor to fill a Demat Request Form (DRF) which is available with every DP and submit the same along with the physical certificates. Every security has an ISIN (International Securities Identification Number). If there is more than one security than the equal number of DRFs has to be filled in. The whole process goes on in the following manner:

Fig 2.1

2.7 REMATERIALISATION
The process of getting the securities in an electronic form, converted back into the physical

35

form is known as Rematerialisation. An investor can rematerialise his shares by filling in a Remat Request Form (RRF). The whole process goes on as follows:

Fig 2.2

Note:

Depository - An organization that facilitates holding of securities in the electronic form and enables DPs to provide services to investors relating to transaction in securities. There are two depositories in India, namely NSDL and CDSL. As per a

36

SEBI guideline, the minimum net worth stipulated for a depository is Rs.100 crore.

NSDL/CDSL - The securities are held in depository accounts, like the funds are held in bank accounts. There are two depositories in India namely NSDL and CDSL. NSDL (National Securities Depository limited) was established in August 1996 and is the first depository in India. CDSL (Central Depository Securities Limited) is the other depository and was established in 1999. DP (Depository Participant) - A Depository Participant can be a financial organization like banks, brokers, financial institutions, custodians, etc., acting as an agent of the Depository to make its services available to the investors. There are a total of 538 DPs registered with SEBI, as on March 31, 2006 and each DP is assigned a unique identification number known as DP-ID.

37

Chapter 3 STUDY AND ANYLISIS OF SERVICES PROVIDED BY RELIGARE AND OTHER BROKERAGE HOUSES

38

3.1 STUDY OF BROKING HOUSES IN NOIDA

ANGEL BROKING Ltd. Angel Bookings tryst with excellence in customer relations began more than 20 years ago. Angel Group has emerged as one of the top 3 retail broking houses in India and incorporated in 1987. Today, Angel has emerged as a premium Indian stock-broking and wealth management house, with an absolute focus on retail business and a commitment to provide "Real Value for Money" to all its clients. It has memberships on BSE, NSE and the leading commodity exchanges in India NCDEX & MCX. Angel is also registered as a depository participant with CDSL. Products and services of Angel Broking Online Trading Commodities DP Services PMS (Portfolio Management Services) Insurance IPO Advisory Mutual Fund
39

 Personal loans Quality Assurance

RELIANCE MONEY Reliance Money, a Reliance Capital company and part of the Reliance Anil Dhirubhai Ambani Group is a comprehensive financial services and solution provider. It is a one-stopshop, providing end-to-end financial solutions (including mobile and web-based services). It has the largest non-banking distribution channel with over 10,000 outlets and 20,000 touch points spread across 5,165 cities/ towns; catering to the diverse needs of over 3 million existing customers.

Services and product of reliance money

It provides customers with access to Equity, Equity and Commodity Derivatives, Offshore Investments, Portfolio Management Services, Wealth Management Services, Investment Banking, Mutual Funds, IPOs, Life and General Insurance products and Gold Coins. Customers can also avail Loans, Credit Card, Money Transfer and Money Changing services.

ICICI DIRECT ICICI Web Trade Limited (IWTL) maintains www.icicidirect.com (herein after referred to as the "Website") whereas IWTL is an affiliate of ICICI Bank Limited and the Website is owned by ICICI Bank Limited. IWTL has launched and established an online trading service on the Website. Products and Services of ICICI DIRECT Investing in Mutual funds Personal Finance Customer Service Features IPOs Margin Trading Margin PLUS Trading Call Trade Trading on NSE/BSE Trade in derivatives
40

India Infoline Security Private Ltd.

India Infoline.com Securities Pvt. Ltd. is a wholly owned subsidiary of India Infoline.com Ltd and is the stock broking arm of India Infoline.com. The subsidiary was formed to comply with regulatory guidelines. www.5paisa.com is a focused website for online stock market trading. 5paisa.com is a trade name owned by the India Infoline.com group. IILSPL has applied for trading membership of the BSE under Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Rules 1992.

Product offered by IILSPL Stock market:-IILSPL deals in stock market by trading in equity and derivatives. Personal finance: - It Deals In Mutual Fund and Insurance. Online Trading: - It provides services in stock and commodity trading (through Internet).

SMC SECURITIES
SMC Group, a leading Financial services provider in India is a vertically integrated investment solutions company, with a pan-india presence. Over the Years, SMC has expanded its domestic & international operations. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Bangalore, Cochin, Ahmedabad, Jaipur, Hyderabad and 1500+ offices across 375+ cities in India. SMC has plans to grow its network to 2,000 offices across 500+ cities in the next 3 years. The company has expanded Internationally, and has established office in Dubai Gold and Commodities Exchange(DGCX). SERVICES AND PRODUCT OF SMC Its products and Services include Institutional and retail brokerage of equity, commodity, currency,derivatives,online trading , investment banking, depository services, clearing

41

services,

IPOs

and

mutual

funds

distribution,

Portfolio

management,

wealth

advisory,insurance broking,equity and commodity research.

HDFC SECURITY HDFC security is the subsidiary of HDFC (Housing Development Financial Corporation). www.hdfcsec.com would have an exclusive discretion to decide the customers who would be entitled to its online investing services. www.hdfcsec.com also reserves the right to decide on the criteria based on which customers would be chosen to participate in these services .The present web site (www.hdfcsec.com) contains features of services that they offer/propose to offer in due course. The launch of new services is subject to the clearance of the regulators. i.e. SEBI, NSE and BSE.

Product offered by HDFC Security

Online trading for Resident & Non Resident Indians. Day trading on both NSE and BSE. Trade on Futures & Options on the NSE. Online IPO's. Telephone-based Broking (Equity & Derivatives).

INDIABULLS SECURITIES LIMITED Indiabulls Securities Limited was incorporated as GPF Securities Private Limited on June 9, 1995. The name of the company was changed to Orbis Securities Private Limited on December 15, 1995 to change the profile of the company and subsequently due to the conversion of the company into a public limited company; the name was further changed to Orbis Securities Limited on January 5, 2004. The name of the company was again changed to Indiabulls Securities Limited on February 16, 2004 so as to capitalize on the brand image of the term Indiabulls in the company name. ISL is a corporate member of capital market & derivative segment of The National Stock Exchange of India Ltd.
42

PRODUCT OFFERED BY INDIA BULLS Equity & Debt Stock Broking Insurance Commodity trading Depository Services Derivatives Broking Services Equity Research Services Mutual Fund Distribution IPO Distribution

SHAREKHAN SECURITIES Sharekhan Securities is one of the leading retail brokerage of Citi Venture which is running successfully since 1922 in the country. Earlier it was the retail broking arm of the Mumbaibased SSKI Group, which has over eight decades of experience in the stock broking business. Sharekhan offers its customers a wide range of equity related services including trade execution on BSE, NSE, Derivatives, depository services, online trading, investment advice etc.

Product and services of sahrekhan

Equity Trading Platform (Online/Offline). Commodities Trading Platform (Online/Offline). Portfolio Management Service. Mutual Fund Advisory and Distribution. Insurance

ANANDRATHI SECURITIES
Anand Rathi is a leading full service investment bank founded in 1994 offering a wide range of financial services and wealth management solutions to institutions, corporations, highnet worth individuals and families. The firm has rapidly expanded its footprint to over 350 locations across India with international presence in Dubai & New York. Founded by Mr. Anand Rathi and Mr. Pradeep Gupta, the group today employs over 2,500 professionals throughout India and its international offices.

43

Product and services by Anandrathi securities Products

Equities I Bonds I Mutual Funds I Derivatives Managed Investment Services / PMS Commodities Life Insurance General Insurance Offshore Structure & Global Investments

Services

Creation of a customized financial strategy Diversification of assets based on a formal process of asset allocation Active tracking, monitoring and review of portfolios Creation of private trusts Tax planning Estate planning Structuring of family wealth

3.2 MY RESPONSIBILITY IN ORGANISATION: The time duration of the project is 2 months starting from 1st June and ending on 31st August. We were given targets to be achieved during training months. The targets of each month were: 5 Demat Accounts 5 Commodity Account

I was supposed to use the database provided by the company to make cold calls or by directly meeting people to get new leads While making cold calls, we need to have: Good Communication Skills (Voice quality is clear and articulate) Persistent and able to bounce back from rejection Good organizational skills. Ability to project a telephone personality (Enthusiasm, friendliness) Flexibility: can adapt to different types of clients and new situations.

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Fig3.1 The Constructive Factors of Tele calling Customer Acquisition Process Educate the prospects on the products and services. Customize the approach to each of the different customers involved in the sales process. Establish a knowledge base for sales people, resellers and partners. Ramp up the new salespeople more quickly and keep them on road. Track the prospects as they move through the sales process. Harvest other types of information from your market to help the company close business more quickly. The data of the prospects can be used for research and development purpose. Enabling the consistent flow of information to the customer and encouraging feedback from them. Helping the customers do the Financial Planning for future.

Limitations: 1. Cold Calling Voice and accent plays a major role. The right time to call a customer cannot be decided, as the customer may in a different mood at the time of calling. Time consuming Less success rate

45

2. Corporate Time consuming Contacts with higher authorities play a major role

Problems faced while selling products:

Customer dissatisfied with the services. People fear that Religare Being a Private company and a new entrant may be able to sustain or not. Past experience, word of mouth. Misguidance by agents. People do not want to invest. Lack of knowledge and awareness about stock market. People risk appetite is very low, so they are afraid of mutual fund as well.

LEARNINGS To get initial success in this field is very difficult. Although the business generation becomes easier with time as we serve more people who then get added up in the loyal clientage. Thus time and service are two most factors to get in this field. Also the corporate remains a very important segment which gets business in bulk but retail cannot be ignored which makes your business ticking. Customer remains in the pivotal position.

46

CHAPTER 4 DATA COLLECTION & RESEARCH METHODOLOGY

47

RESEARCH METHODOLOGY

Research can be defined as systemized effort to gain new knowledge. A research is carried out by different methodologies which have their own pros and cons. Research methodology is a way to solve research in studying and solving research problem along with logic behind them are defined through research methodology. Thus while talking about research methodology we are not only talking of research methods but also considered the logic behind the methods. We are in context of our research studies and explain why it is being used a particular method or technique and why the others are not used. So that research result is capable of being evaluated either by researcher himself or by others Research has its special significance in solving various operational and planning problems of business and industry. Research methodology is the way to systematically solve the research problem. Execution of the project: It is the very important step in the research process accuracy findings depends on how systematically the study has been carried out in time so that it can make some sense when required. I have executed the project after prior discussion with the guide and structured in following steps: a. Preparation of questionnaire.
b. Collection of list of some of the broking houses so that more interaction is

possible and the variety of responses can be registered to have a good data for analysis. c. Visiting and asking about their feedback on the financial services like share broking, mutual fund, etc.

1. Data requirements -a. Name, address and phone number of individual broking houses b. Services provided by broking houses

2. Primary data

48

a. Primary data has been collected by conducting Personal interview of the respondents.

b. Data collected through the questionnaire. 3. Secondary data

a. Data collected official website of Religare securities ltd..

b. Data collected by referring to the database already maintained in the company. 4. Data Collection Instruments:-

1.Questionnaire 2.Telephonic communication. 3. E-mail.

Sample A finite subset of population, selected from it with the objective of investigating its properties called a sample. A sample is a representative part of the population. A sample of 11 respondents in total has been randomly selected. The response to various elements under each questions were totaled for the purpose of various statistical testing. Presentation of Data. The data are presented through charts and tables.

Tools and Techniques for Analysis. MS EXCEL is used to for analysis and interpretation of data.

49

Limitations of study

Time and Cost The time and cost play an important role where one goes for a particular study. Both of these factors become constraints especially when a study is conducted at academic level.

Sample Size Due to time and cost constraints the large sample was not taken. Since the study conducted was with a small sample hence the exact picture cannot be revealed and the findings cannot be generalized.

Choice of Population- The population selected was limited to the places in NCR. Hence results would have altered if some other population had been selected.

Inherent Discrepancies in the Questionnaire- The questionnaire might be having some undetectable errors and limitations, which could shape the responses into a particular fashion. No pre-test was done before the circulation of the questionnaire.

Bias in Response- The data is entirely based on responses given by respondents which may be biased one due to their personal bias in replying the questions. They may not be very serious or interested in replying the questions and make it very lightly, due to which data may not be very accurate.

50

CHAPTER 5 ANALYSIS AND INTERPRETATION

51

Major Players in the Region

Religare Securities ICICI Direct India Infoline Security Pvt. Ltd. HDFC Securities

India bulls

Kotak Securities Reliance Money

Share khan Securities

SMC securities ltd. Anand Rathi Securities Angel Broking

52

Comparative Study of Broking houses

Brokerage Equity Intraday Name of Firm Angel Ltd. Broking 2 20 75 25 30 25 75 30 30 20 25 15 1000 4000 1000 300 550 400 400 2000 500 1700 200 35 17 25 20 7 0 0 0 11 40 20 1 1 4 2 5 1 1 2 2 5 2 750 950 850 650 800 499 300 700 700 500 650 5000 0 10000 5000 5000 5000 5000 0 0 0 7000 Delivery SubBranches DMAT (Noida) in Rs. Margin Money

(In Paisa) (In Paisa) Clients Broker

Reliance Money 0.5 Sharekhan Securities SMC ltd. securities 3 3 7.5 5

India Infoline ICICI Direct

Kotak Securities 3 India Bulls Anand Securities Religare Securities Rathi 3 2 3

HDFC Securities 3

Table5.1

53

AdvisoryInvestment

LoansPersonal
Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes

FundMutual

Back office

M-Connect

Insurance

E-Broking

Services

Religare Securities ICICI Direct India Infoline Security Pvt. Ltd. HDFC Securities Indiabulls Kotak Securities Reliance Money Sharekhan Securities SMC securities ltd Anand Rathi Securities Angel Broking ltd.

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

Yes

Yes

Yes

Yes

Yes

No

Yes

Yes

Yes

No

Yes

Yes

Yes

Yes

No

No

Yes

Yes Yes Yes Yes No No No No

No Yes Yes Yes No Yes Yes Yes

Yes No Yes No Yes No Yes Yes

Yes Yes Yes Yes Yes Yes Yes Yes

Yes Yes Yes Yes Yes Yes Yes Yes

Yes Yes Yes Yes Yes Yes Yes Yes

No No No Yes No No No No

Yes No No No No No No No

Yes Yes Yes Yes Yes Yes Yes Yes

Table 5.2

54

Software

Funding

PMS

Market shares

R a elig re 15% others 40%

Religare Reliance m oney India bulls others

R nc money elia e 27% Indiabulls 18%

Fig5.1
Interpretation: This shows that even with sufficiently high Brand Equity, Religare ranks only 3rd amongst the Demat account providers. This is probably because of two main reasons: 1. Lack of promotion and unfocussed approach towards Product awareness 2. Non transparent marketing policies of the company Hence, the company should crystallize its products and should indulge in aggressive marketing and promotion.

55

Comparison of interaday brokerage

Fig 5.2

Interpretation: This shows that intraday brokerage charges is taken by religare is 2 paisa/100 Rs and by reliance money it is .5 paisa so for more customer religare has to work on its brokerage charges

56

Comparison of delivery brokerage

Fig5.3

Interpretation: This shows that delivery brokerage charges is taken by religare is 20 paisa/100 Rs and by Angel broking it is 15 paisa so for more customer religare has to work on its brokerage charges

57

Comparison of Account opening charges

Fig5.4

Interpretation: This shows that account opening charges is taken by religare is 500 Rs and by sharekhan securities it is 350 Rs so for more customer religare have to work on its brokerage charges

58

CHAPTER 6 CONCLUSION

59

CONCLUSION

On the basis of the study it is found that Religare securities ltd. is better services provider than the other stockbrokers because of their timely research and personalized advice on what stocks to buy and sell. Religare securities ltd provides the facility of Trade tiger as well as relationship manager facility for encouragement and protects the interest of the investors. It also provides the information through the internet and mobile alerts that what IPOs are coming in the market and it also provides its research on the future prospect of the IPO. Study also concludes that people are not much aware of stock market and while its going to be biggest market in India. From the above survey and observation it is found that most of the people who are trading in share market belongs to the employee group, next comes the business men and other class of income people. As the share market value goes on increasing day by day the investor who wants to invest in shares also increasing. But investing in shares is as risky as earning yield. Trading in online trading firm is easy as it all delivered with internet and within a few minutes the customer can buy and sell shares which save time as well as reduction of paper work. Hence trading in share market is increasing day by day and investors are ready to invest their investment in share market only.

They expect all the information such less rates, less brokerages, highly returns and better service level without delay.

60

CHAPTER 7 Recommendations

61

Recommendations
about the customers. The number of branches it has at present should be increased all over the country, which will attract a large number of customers. Company should educate about the rules and regulations of SEBI to its customers. Commitment should be equalized for every person Improvement in the opening of Demat & contract notice procedure is required There should be a limited number of clients under the relationship manger. So that he Some promotional activities are required for the awareness of the customer People at young age should be encouraged to invest in stock market Seminars should be more held for providing information to prospective and present customers In the organization, There must me be co-operation with other department and other branches Company should make more promotional activities by giving advertisements and publicity. Give more demonstration to customers so that they can get complete knowledge online trading Give the complete information about products and services offered by the company to

can handle new as well as old customer properly

62

QUESTIONNAIRE
Date _ _ /_ _ /_ _

Name of Company : _____________________________________________________ Address : _____________________________________________________ Name of Representative :____________________ ___ Contact No. : ______________

1. Are you offering these products/services to your existing customers? (Please tick on this) Products:
A)

Online Trading E)

B) Commodities Insurance

C) PMS F) Mutual Fund I)

D)

E-Broking

G) Personal Loans Others( _______________) Services: A) Research & Advisory Services D) M-Connect

H) IPO

B) Depository Services

C)

Back Office

E) Others ( ___________)

2. How many clients are you having active? ________________________________________

3. How many sub-brokers is your company having? __________________________________

4. How much you charge for Products/services? S. No. Name of service/Product Charges (In Rs.)

63

1 2 3 4 5

DMAT Account Margin Money Brokerage (Equity) Brokerage (Commodity) Sub - Broker ship charges Same Day // Delivery

5. Are you organizing any events or survey for customers awareness? (If yes then specify) ______________________________________________________________________ ________

6. Any special services which makes you different in market? ______________________________________________________________________ ________

7. Who are the major competitors in market for your company? _________________________________________________________________________ ____

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BIBLIOGRAPHY

References: - For web support

1) www.mcxindia.com 2) www.religare.in 3) www.answers.com 4) www.ncdex.com 5) www.businessstandard.com

Books , Magazines & News-papers references 1) Naresh Malhotra ( market research management) 2) Philip Kotler ( marketing management) 3) Business World 4) Business Economy 5) The economic times 6) Business standard 7) Business Line

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8) Daily market commentary, daily research reports of Religare commodities Ltd.

66