Competitive Analysis

Once we were equipped with the working of the brokerage industry we did a
competitive analysis to ascertain the position of India Infoline in the market. The
aim of this activity was to know what the other brokerage houses are offering and
at what cost. This gave us an idea as to where did India Infoline gain an edge over
its competitors along with identifying the strengths and weaknesses of the
competitors.
The brokerage firms were analyzed on the following factors:
• General charges like account opening, annual maintenance charges etc.
• Brokerage offered – What brokerage does the company charge for Intraday,
delivery trades and also for futures and options.
• Opening Margin Required- The amount of money necessary to be deposited in
the trading account for opening an account
• Exposure – How much exposure does the company provide for intraday and
delivery.
• Software – Whether the company provides any online software for trading. And
what are the other mediums using which trading can be carried on.
• Services- What are the other services provided to the clients

Account Opening
Charges
Indiabulls - 999
Motilal Oswal - 2500 to 1Lac (As per scheme)
ShareKhan - 750 (Reversible)
Religare - 500
Kotak Securities - 750
ICICI Direct - 1750 (Reversible)
Account Maintenance Charge
Indiabulls - No Charge
Motilal Oswal - 1 year free. Rs. 450 per annum thereafter
ShareKhan - No Charge
Religare - 250
Kotak Securities - 360
ICICI Direct - 1 year free. Rs 500 per annum thereafter
Brokerage
(ID = Intraday,
DL = Delivery)

All amounts in Rs. per 100

Indiabulls - ID= Rs.0.05, DL= Rs.0.50
Motilal Oswal - ID= 0.05-0.03, DL= 0.50-0.30
ShareKhan - ID= Rs. 0.05, DL= Rs. 0.50
Religare - ID= 0.03, DL= 0.30
Kotak Securities - ID= 0.02, DL= 0.20
ICICI Direct - ID= 0.05-0.03, DL= 0.55
Exposure
(ID= Intraday,
DL= Delivery)
Indiabulls - ID: 15 times, DL: 4 times
Motilal Oswal - ID: 5 times, DL: 3 times
ShareKhan - ID: 8 times, DL: 4 times
Religare - ID: 10 times, DL: 5 times
Kotak Securities - ID: 4-10 times, DL: 4-7 times
ICICI Direct - ID: 30times, DL: No Exposure
Software Charges
Indiabulls - Rs. 750
Motilal Oswal - Rs. 1000
ShareKhan - Free
Religare - Rs. 800
Kotak Securities - Free
ICICI Direct - Included in Account Opening Charges

Services Indiabulls - Free SMS & calls

Motilal Oswal - Free SMS, call and Messenger
ShareKhan - Rs. 250 per month for SMS
Religare - SMS, E-mails
Kotak Securities - Free calls, SMS Rs. 100 per month
ICICI Direct - Rs. 200 per month for SMS
Trading Channels
Indiabulls - Web based + Software. Maximum 15 scrips
Motilal Oswal - Web based + Software. Maximum 125 scrips
ShareKhan - Web based + Software. Unlimited scrips
Religare - Web based + Software. Any no. of scrips
Kotak Securities - Software recommended.
ICICI Direct - Web based + Software. Limited Scrips
Bank Tie-ups for
Online Fund
Transfer
Indiabulls - 5 banks
Motilal Oswal - 28 banks
ShareKhan - 6 banks
Religare - 5-6 banks
Kotak Securities - Kotak Saving Account. Other 5-6 banks
ICICI Direct - Mandatory ICICI savings account

Here, at the end of it we had a complete range of offerings by the competitors of

India
Infoline.
Observation:
1. Indiabulls: Their account opening charges are a bit higher, but they also include
the lifetime maintenance charge. They do charge for the software and also one can
add limited scrip’s to the software.
2. Motilal Oswal: This brokerage firm provides a wide range of schemes. One can
select the scheme as per the requirement of advance brokerage, brokerage charges
etc. They also have a large network of banks with whom they have tied up for fund
transfers.
3. Sharekhan: The charges for Sharekhan are very nominal. They provide free
software with no limit on the scrip’s. They charge for SMS facility.
4. Religare: It has low initial cost to open an account and also provides good
exposure. However they charge for the software.
Services Indiabulls - Free SMS & calls
5. Motilal Oswal - Free SMS, call and Messenger
6. ShareKhan - Rs. 250 per month for SMS
7. Religare - SMS, E-mails
8. Kotak Securities - Free calls, SMS Rs. 100 per month
9. ICICI Direct - Rs. 200 per month for SMS
Trading Channels
Indiabulls - Web based + Software. Maximum 15 scrips
Motilal Oswal - Web based + Software. Maximum 125 scrips
ShareKhan - Web based + Software. Unlimited scrips
Religare - Web based + Software. Any no. of scrips
Kotak Securities - Software recommended.
ICICI Direct - Web based + Software. Limited Scrips
Bank Tie-ups for
Online Fund
Transfer
Indiabulls - 5 banks
Motilal Oswal - 28 banks
ShareKhan - 6 banks
Religare - 5-6 banks
Kotak Securities - Kotak Saving Account. Other 5-6 banks
ICICI Direct - Mandatory ICICI savings account

Here, at the end of it we had a complete range of offerings by the competitors of

India
Infoline.
Observation:
Indiabulls: Their account opening charges are a bit higher, but they also include the
lifetime maintainence charge. They do charge for the software and also one can
add limited scrips to the software.
Motilal Oswal: This brokerage firm provides a wide range of schemes. One can
select the a scheme as per the requirement of advance brokerage, brokerage
charges etc. They also have a large network of banks with whom they have tied up
for fund transfers.
Sharekhan: The charges for Sharekhan are very nominal. They provide free
software with no limit on the scrips. They charge for SMS facility.
Religare: It has low initial cost to open an account and also provides good
exposure. However they charge for the software.

Kotak Securities: Kotak also being in the banking business, they offer Auto-debit
and Credit facility from their savings bank account. The unused margin is
automatically transferred to the Savings account. However they charge for the
SMS facility. They have award winning research team.

ICICI Direct: Their only plus point being the high exposure offered on intraday
trading .No provision of exposure on Delivery. They do not have the facility of
exclusive Relationship Managers.
The following are the offerings of India Infoline:-

Analysis:
India Infoline has competitive account opening charges which are reversible
against 3 monthsbrokerage. The account maintenance is a one-time charge and is
valid for lifetime of an account. They provide a decent exposure limits as per the
category of the stocks. Their software is free of cost and has unlimited number of
scrips. India Infoline’s research is alsoquite strong. It faces quite a stiff competition
from ShareKhan, as it provides similar service and at quite competitive costs and
also from Kotak in terms of their research reports.
We believe India Infoline has an edge over the others in their software and
research part. The software provided by India Infoline, TTAdvance , to its users is
a propreitory software developed by india Infoline itself. It provides a host of
features, like daily/weekly research reports, Net Position w.r.t the current market,
graphs and charts, company information etc.The research of India Infoline is quite
strong compared to others, as India Infoline was first established as a research firm
and later got into the business of Brokerage firm.
India Infoline:
Account Opening Charge- Rs. 750 (Reversible)
Account Maintainence Charge- Rs 555 Lifetime Free
Brokerage- ID: Rs 0.05, DL: Rs. 0.50
Exposure- ID: 10times, DL: 4 times
Software Charges: No Charge
Services: Free SMS, Calls, Email for Daily positions
Trading Channels: Web based + Propreitory Software
Bank Tie-ups: 6 banks

Analysis:
India Infoline has competitive account opening charges which are reversible
against 3 months brokerage. The account maintenance is a one-time charge and is
valid for lifetime of an account. They provide a decent exposure limits as per the
category of the stocks. Their software is free of cost and has unlimited number of
scrips. India Infoline’s research is also quite strong. It faces quite a stiff
competition from ShareKhan, as it provides similar service and at quite
competitive costs and also from Kotak in terms of their research reports. We
believe India Infoline has an edge over the others in their software and research
part. The software provided by India Infoline, TTAdvance , to its users is a
propreitory software developed by India Infoline itself. It provides a host of
features, like daily/weekly research reports, Net Position w.r.t the current market,
graphs and charts, company information etc. The research of India Infoline is quite
strong compared to others, as India Infoline was first established as a research firm
and later got into the business of Brokerage firm.