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EXECUTIVE SUMMARY
The project focuses on the dematerialization and stock trading services
provided by ICICISECURITIES and its features which gives ICICI Securities
no 1 position in financial market.The project also includes the services industry
in which ICICI Securities LTD plays animportant role. The
organization structure, history of the company, ownership patterns,divisions
and different departments in the organization are also mentioned. The
primaryobjective of study is to understand the customer needs and their
expectations from theICICI securities and their products.The project provides
an overall view on the financial standing of the company, productsoffered and
services provided the competitors in the industry and the competitive edge
ofICICI Securities LTD over others to have a distinctive position in the
industry.Lastly the project involves an analysis and comparative study of the
product of ICICISecurities LTD with other major players in securities market
and Conclusion andRecommendations to provide a horizon of improvement and
growth.

INTRODUCTION



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INTRODUCTION
The stock broking industry is a service-oriented industry where
brokers act asagents for investors when a security is bought or sold
and are compensated with acommission. Investors would not
hesitate to switch to alternative brokeragehouses if they do
not obtain satisfaction. Providing quality service and hencecustomer
satisfaction should thus be recognized as a key strategy and a
crucialelement of long-run success and profitability for stock broking
businesses.Little has been done towards understanding the
expectations investors hold fromtheir stockbrokers. Since
expectations serve as benchmark to gauge the servicelevel of
brokers, the delivery of services that exceed customer expectations
is onestrategy that can give firms a competitive advantage.
Therefore, it would seembeneficial for stockbrokerage firms, in a
dynamic economic environment likeIndia, to provide service at a
good scale of quality. In addition, stockbrokers have
much to gain in understanding investors expectations of them, as this
would help
the stockbrokers to serve their customers better and foster long-
lastingrelationship with their customers. This study therefore aims
to provide aplatform for understanding what the customer needs
and what is being providedto bridge the gap between customer
expectation and the actual service rendered.This information would
be useful for those who would like to control and improvethe
performance of their service. The project would focus mainly on
ICICI SECLTD. understanding of the requirements of the customer
and its endeavor toprovide what the customer expects and hence
showing that it is the market leaderin the stock broking industry.
BACKGROUND AND LITERATURE REVIEW
The Securities Brokerage Industry is cyclical and comprised of two distinct types
ofbusinesses. Brokerages, also known as financial services companies, strive to meet
theinvesting needs of their clients, and exchanges facilitate securities trading. Net
profitscorrelate to the performance of the broader equity market.In this market with less
differentiated products and many players, there exists anoligopoly (saying in book terms),
characterized by tough competition, entry and exitbarriers and many more.1.

Al Ries and Jack Trout, in his work said differentiate or die, too many less
differentiated products creates a kind of information overload, and in this clutterof too
much information, products which are not properly differentiated oradvertised just end up
becoming a me too product. To avoid it every marketerneeds to position his/ her products in a way
that makes a specific image in theminds of consumers.2.

Jack Miller, in his work published on June 03, 2010, talked about how investorsmake
investment decisions. He broke the process of decision making in pullingthe buy or
sell trigger. According to him investors made the investment decisionsin the ways like
simple screening, then lateral recommendation, followed bypiggy bank investing.3.

According to U.S. Securities and Exchange Commissions, one of the articles:
investors first evaluate their current financial roadmap, and then they evaluatetheir comfort
zone in taking on risk. Consider an appropriate mix ofinvestments, create and maintain an
emergency fund, consider dollar averaging,consider rebalancing portfolio occasionally,
and in the process also try to avoidthe circumstances that can lead to fraud
STATEMENT OF PROBLEM
To provide ICICI SEC LTD. with meaningful recommendation (if any)
to initiate achange in their products (Demat and trading etc.) after
questioning prospectiveinvestors regarding the fulfillment of their
expectation.

OBJECTIVES OF RESEARCH:
o understand and analyze the expectations of customers of ICIC SECLTD In todays
market scenario and compare the services of ICICI SEC with Other major players insecurities market.
Like Hdfc sec, Motilal Oswal, angel broking, share khan, India bulls,Kotak securities.

Identifying problems being faced by customers

Analyzing ICICI secs product in meeting these expectations.


Finding deviations if any.

Problem definition
Understanding expectation of investors.

Analyzing the problems being faced by investors.

Understanding ICICI DIRECT products to meet these problems.

Mapping a questionnaire to analyze investors satisfaction of ICICI DIRECT
product.

Contemplating the information.

Providing meaningful analysis of the problem.
Why investors choose ICICI SECURITIES??

It is an ICICI group company.

Diverse portfolio and a lot of products under one roof.

Has one of the best brokerage plans.

Attractive brand.

Relationship managers attached to customers.

Equity research team (one of the best in the market).

Controlled and low cost service structure.

Large volume processing structure
Expertise in coordinating multi-location responses.

Safety & security of funds & stocks.

Transparent dealings.

Hassle-free settlements.

Timely pay-in & pay-out, no follow ups.

Direct deal with members (no intermediaries).

Localised & personalised service.

Complete suite of products - One stop financial shop for Equity,
Derivative, MF,and IPO.

No hidden costs/charges.



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INVESTORS EXPECTATIONS

Providing basic knowledge to investors so as to help them in
understanding thestock market and making proper decisions in
stocks

Providing an averagely priced product so as to appeal to the
investors and have apenetration effect in the market.

Timely input (tips, entry and exist) to be provided to prospective
clients so thatthey can maximize their wealth by making smart
decisions.

Updated info about client accounts on amounts outstanding,
payment,withdrawals, shortages etc. if any.

Ancillary services like providing payout facilities, direct transfers,
timelypayments and receipts, confirmations about order receiptance
and delivery ofstocks, cheques, dematerialized shares etc.

Cordial relation with clients should be maintained so as to promote
goodwill andbusiness of the broker.

Proper availability of RMs to attend to clients requests so as to minimize
delays
in order reacceptance and minimizing customer dissatisfaction.

Attractive brokerage charges (with respect to the customer needs).
THE INDIAN FINANCIAL SECTOR
The Indian financial services industry has experienced significant
growth in thelast few years. There has been a considerable
broadening and deepening of theIndian financial markets due to
various financial market reforms undertaken bythe Indian
regulators, the introduction of innovative financial instruments in
therecent years and the management and brokerage have been
liberalized to allowprivate sector involvement, which has contributed
to the development andmodernization of the financial services
sector.
CAPITAL MARKET:
The capital market is divided into two segments viz:a) Primary Marketb)
Secondary Marketa) PRIMARY MARKET:Most companies are usually started
privately by their promoters.However the
promoters capital
and the borrowed capital from banks or financialinstitutions might not be
sufficient for running the business over the long term. That iswhen corporate
and the government looks at the primary market to raise long term fundsby
issuing securities such as debt or equity. These securities may be issued at
face value,at premium or at discount. Let us understand the meaning of these
terms:
Face Value:Face Value ue is the original cost of the security as shown in
thecertificate/instrument. Most equity shares have a face value of Rs. 1, Rs.
5, Rs. 10 or Rs.100 and do not have much bearing on the actual market price
of the stock. When issuingsecurities, they may be offered at a discount or at
a premium.

Premium:when the security is offered at a price higher than the facelue is
called and premium

Discount:


b) SECONDARY MARKET:The secondary market provides liquidity to the
investors in the primary market. Today wewould not invest in any instrument if
there was no medium to liquidate our position. Thesecondary markets provide
an efficient platform for trading of those securities initiallyoffered in the
primary market. Also those investors who have applied for shares in an IPO
may or may not get allotment. If they dont then they can always buy the
shares
sometimes at a discount or at a premium) in the secondary market. Trading in
thesecondary market is done through stock exchange. The Stock exchange is
a place wherethe buyers and sellers meet to trade in shares in an organized
manner. The stock exchangeperforms the following functions
There are two leading stock exchanges in India which help us trade are:i.
National Stock Exchange: National Stock Exchange incorporated in the year
1992provides trading in the equity as well as debt market. Maximum volumes
take place onNSE and hence enjoy leadership position in the country todayii.
Bombay Stock Exchange
:
BSE on the other hand was set up in the year 1875 and is theoldest stock
exchange in Asia. It has evolved in to its present status as the premier
stockexchange

RECENT ADVANCEMENTS IN THE INDUSTRY
With market sentiment turning positive due to the formation of a
stable newlyelected government, the ripple effect is likely to felt
across all the financialservices in India.

Financial services and real estate sector rose by 11.5 per cent in the
first quarterof 2011-12
Slashing interest rates, lowering factory levies and more than
doubling the limiton foreign investment in corporate bonds has led
to rapid growth in the financialsector.

2011-2013 saw increased inflow in to equity with investors steadily
turningpositive on equity with net investment of mutual funds in
debt almost gettingtripled.


Indias market capitalization (m
-cap) has touched US$ 1.24 trillion making it thelargest among in
the world.

The Indian stock market has currently responded to the optimism of
reforms bythe new stable government and its continuity in policies.

Falling commodity price will ease input cost of the industries.
Governmentpolicies to boost the economy.

Inflation is at control 9- 10%. As interest rate in developed economy
is recordlow, India could attract investment.


Reducing interest rates provide fuel to the recession economy
making thefinancial system more secure
ICICI GROUPICICI SECURITIES LTD
ICICI Securities Ltd is an integrated securities firm offering a
wideRange of services including investment banking, institutional
broking,Retail broking, private wealth management, and
financialProduct distribution.ICICI Securities sees its role as
'Creating Informed Access to theWealth of the Nation' for its
diversified set of client that includeCorporate, financial institutions,
high net-worth individuals And retail investors.Headquartered in
Mumbai, ICICI Securities operates out of 66Cities and towns in India
and global offices in Singapore and NewYork.ICICI Securities Inc.,
the step-down wholly owned US subsidiaryOf the company is a
member of the Financial Industry Regulatory Authority (FINRA)/
Securities Investors Protection Corporation (SIPC). ICICI Securities
Inc. activities include Dealing in Securities andCorporate Advisory
Services in the United States.