CONTENTS

CHAPTER: 1. 1. INTRODUCTION 1.4. General introduction 1.5. Objectives of study 1.6. Industry profile a. b. c. Origin and development of the industry Growth and present status of the industry Future of the industry.

CHAPTER: 2. PROFILE OF THE ORGANIZATION 2.9. Origin of the organization 2.10. Growth and development of the organization 2.11. Present status of the organization 2.12. Future plans of the organization 2.13. Functional departments of the organization 2.14. Organization structure and organization chart.

2.15. Products and services profile of the organization 2.16. Market profile of the organization

CHAPTER: 3. DISCUSSION OF TRAINING. 3.4. Students work profile (role and responsibilities) 3.5. Description of live experience. 3.6. Student’s contribution to organization. CHAPTER: 4. SUMMARY AND CONCLUSIONS 5.1. Summary of learning experience 5.2. Conclusions and recommendations.

ABOUT RELIGARE Religare, a Ranbaxy promoter group company, is one of India’s largest and fastest growing integrated financial services institutions. The company offers a large and diverse bouquet of services ranging from equities, commodities, insurance broking, to wealth advisory, portfolio management services, personal finance services, Investment banking and institutional broking services. The services are broadly clubbed across three key business verticals- Retail, Wealth management and the Institutional spectrum. Religare Enterprises Limited is the holding company for all its businesses, structured and being operated through various subsidiaries. Religare’s retail network spreads across the length and breadth of the country with its presence through more than 900 locations across more than 300 cities and towns. Having spread itself fairly well across the country and with the promise of not resting on its laurels, it has also aggressively started eyeing global geographies Recently, Religare has also partnered with AEGON, one of the largest insurance and pension companies globally, to offer Life Insurance and Mutual Fund products in India. The venture shall combine the international expertise of AEGON with the distribution strength of Religare. Religare is driven by ethical and dynamic process for wealth creation. Based on this, the company started its Endeavor in the financial market.

Today.Religare Enterprises Limited (A Ranbaxy Promoter Group Company) through Religare Securities Limited. Corporate Finance. Insurance and Mutual Funds. we provide various financial services which include Investment Banking. Religare Commodities Limited and Religare Insurance Broking Limited provides integrated financial solutions to its corporate. We not only execute trades for our clients but also provide them critical and timely investment advice. The growing list of financial institutions with which Religare is empanelled as an approved broker is a reflection of the high level service standard maintained by the company. there’s a lot more to come your way. Today. Portfolio Management Services. who have proven track record in their respective domains. retail and wealth management clients. Religare group works on the philosophy of partnering for wealth creation. Religare operations are managed by more than 3000 highly skilled professionals who subscribe to Religare philosophy and are spread across its countrywide branches. Plus. . Religare is proud of being a truly professional financial service provider managed by a highly skilled team. we have a growing network of more than 300 branches and more than 580 business partners spread across more than 300 cities/towns in India and a fully operational international office at London. Religare Finvest Limited. Equity & Commodity Broking. Unlike a traditional broking firm.

Religare Commodities is coming up with its branches at mandi locations. RFL has delivered the most competitive products and services. RFL is primarily engaged in the business of providing finance against securities in the secondary market. a Non Banking Finance Company (NBFC) is aggressively making a name in the financial services arena in India. which is an online facility also. commodity and financial services business. RCL provides platform to both agro and non-agro commodity traders to derive the actual price of the commodity and also to trade and hedge actively in the growing commodity trading market in India. Religare Commodities Limited Religare is a member of NCDEX and MCX and provides platform for trading in commodities. Religare Finvest Limited and Religare Insurance Broking Limited which deal in equity. It also provides finance for application in Initial Public Offers to non-retail clients in the primary market. With these realizations. Religare Commodities Limited. In a fast paced. constantly changing dynamic business environment.Religare Enterprises Limited group comprises of Religare Securities Limited. It is a flagship effort from our team which would be helpful in facilitating trade and speculating price of commodities in future Religare Finvest Religare Finvest Limited (RFL). .

As composite insurance broker.e. we will be offering value based customized solutions to cover all risks which their business is exposed to. . there is more in store. This service will take benefit of Religare’s vast business empire spread throughout the country -. structured products to take care of event of things that may go wrong. Financial planning is incomplete without protective measure i. Religare Insurance Broking Limited. deals in both insurance and reinsurance. We aim to have a wide reach with our services – literally! That’s why we are catering the insurance requirements of both retail and corporate segments with products of all the insurance companies on life and non-life side. both life and general to mitigate risks to life and assets through our existing network. We also cater individuals with a complete suite of insurance solutions. Religare has been taking care of financial services for long but there was a missing link.RFL is also planning to initiate personal loan portfolio as fund based activity and mutual fund distribution as fee based activities. For corporate clients. Religare Insurance Broking Ltd. Still.providing our valued clients insurance services across India. providing our clients risk transfer solutions on life and nonlife sides. Our clients will be supported by an operations team equipped with the best of technology support.

Religare Insurance Broking aims to provide neutral. transparent and professional risk transfer advice to become the first choice of India .

Harpal Singh Managing Director Mr. Vinay Kumar Kaul Director Mr. Shivinder Mohan Singh . Malvinder Mohan Singh Director Mr.Vision To be India's first Multinational providing complete financial services solution across the globe. Following is the list of Directors of Religare Securities Limited • • • • • Chairman Mr. Mission Providing integrated financial care driven by the relationship of trust and confidence Religare team is led by a very eminent Board of Directors who provide policy guidance and work under the active leadership of its CEO & Managing Director and support of its Central Guidance Team Board of Directors. Sunil Godhwani Director Mr.

Hindalco (up 0.96 lakh shares. Though the market opened strong and surged to cross the 14000 level chose to remain cautious ahead of key events that are to unfold tomorrow. and was the top-gainer among the spectral indices. As market became stronger and stronger volatility gripped the market.10. The S^P CNX Nifty was up 1.085. which measures the overall health of the market. which was highly volatile throughout the day. The BSE Metal Index closed at 9. The market-breadth.Market cautious ahead of major events The market began the trading session on a firm note supported by the positive cues from global indices and as buying continued for index pivotals. The most significant of events is the Reserve Bank of India (RBI)’s monetary policy.80 to Rs 147.71 to Rs 559.75). to finish at 4.928.85) and Satyam Computers (up 0. The 30-share BSE Sensex gained 30. 1.85 to Rs 480. as selling of small cap and mid-cap shares began. ended negative.55 points (0. Tata Steel surged 4.384 scrip’s declined compared to 1. finally settled with modest gains. on a high volume of 22. The central bank is expected to hold interest rates steady at its policy review on Tuesday (24 April). REL (up 2. The market. and was the top-gainer. Among the spectral Indices shares from the metal sector surged.33.50.84.896. up 2. On BSE.10 to Rs 521. It bounced back as buying renewed.163 that advanced. which will be announced by tomorrow. although it is expected that the central bank may decide to take steps to curb capital inflows that have been driving up the rupee.50) were the other gainers. . A total of 83 stocks remained unchanged. to end at 13.92 points. Bharti Airtel.04). resulting in the market trading in the red zone for a while.

. This product comes as Rally.60 For the first time Religare brings investing community the power to be associated with the elite dealing rooms and freedom to execute trade on their own. It has been designed to provide world class experience and expertise to investors. ITC was the top-loser. you may trade from our branches or trade on your own over the net and with that you get our expertise and assistance. They would not only assist the client in information dissemination but would also take care of all post trade requirements. after striking an all-time high of Rs 867.55. These products have very exciting features like integrated DP.80. That is. You can log on and get started from your computers or your mobile devices. Rally lite and Rally pro. hot key functions and much more. down 2.49 to Rs 156. It gives you the power of trading from your home..however.95 to Rs 837. Clients opting for this service would be provided services managed by a team of dedicated relationship managers and experienced trade dealers. RALLY as the name suggests is the perfect partner for savvy investors.. office or while traveling and trade in the market of equity and derivatives. was down 0.

What is the different version of RALLY available? There are three different versions of RALLY: RALLY (Basic).This is also a browser based version with some value added features thrown in which will help the client to monitor the market and make quick buy and sell transactions. The account opening charges for Rally Basic is 299/RALLY lite (Applet Version) .About RALLY • What is RALLY? • What are the features and the difference between the three RALLY versions? RALLY stands for Religare Advanced Client Engine. It is a premium trading platform for those customers who want to seamless online trading. The client can also create his own watch list and customize it.This is a browser based online trading platform with all the basic features required to make transaction using Internet Explorer. The account opening charges for RALLY Lite is 500/- . RALLY lite. Race is feature rich software where a customer can do online trading through various modes: browser and application with minimal manual intervention. RALLY pro What are the features and the difference between the three RALLY versions? RALLY Basic (Asp version) .

The account opening charges for Race Pro is 1000/Features of RALLY • How do I login to RALLY Platform? • How do I create a multiple watch list? • How do I add /delete scrip’s? • What are the various reports which I can see? • How do I add Trigger/Alert? • How can I place a stop loss order? • How do I see derivative chain? • How do I see technical chart? • Where can I get the list of hot key functions? • How can I do an online payment? • How would the futures and options calculator help me? • How much is the exposure to race clients in intraday and delivery? • What is auto square off? • Is buying allowed in ‘Z’ category scrip’s? .This is a fully loaded software which has many features that will change the way one trade in stock market.RALLY Pro (Application Based) .

click on “new”.All you need to do now is put in the name of the scrip and click on “find code” to view all the tickers available for that scrip. Select the ticker and then click on “ok” to add it in the market watch. you need to go to the homepage of our website and click on “Online trading->RALLY>RALLY Asp/Lite or Pro”. To see market watch in RALLY Lite.A small box will be presented to you and you could choose the exchange. go to “View->New Market Watch>select the exchange type”. login password and trade password to login. select the exchange type and put any scrip name . . You could right click on any scrip and click on “Insert Security/Contract” . How do I create a multiple watch list? To create a multiple watch list in RALLY Pro. Once you click on this you will see a new window where you need to put your user id. and then type of trade (equity/futures/options) . Now you can save this setting by right clicking on any scrip.• Is BTST allowed in Race? • How much margin is required from a RALLY client? • How much is the brokerage charged from a Rally client? • Can I do an online funds transfer from any of my bank accounts? • How do I get contract notes? • What do I do if I forget my RALLY password or my password gets locked? How do I login to Rally Platform? To login to Rally platform.This will show you a list of some scrip’s by default.

The different reports are: Order book. How do I see technical chart? There are many advanced types of technical charts available for RALLY Pro clients. Trade book. just right click on the selected scrip and then click on “filters/triggers” or “scrip alert”. These chart help to monitor the market on a continuous basis . What are the various reports which I can see? The various reports can be viewed under the drop down menu of “reports”. Else you can go to the drop down menu of “window” and click on “technical chart”. just right click on any ticker and click on either add security/delete security or add from user set as per your desire. Where can I get the list of hot key functions? . How do I set Trigger/Alert? To add trigger. How do I see derivative chain? Race Pro clients can view all the derivative instruments related to a particular underlying security by right clicking on it.You can view them by right clicking on the scrip and then clicking on “EOD Chart” or “Intraday Chart”. How can I place a stop loss order? To place a stop loss order you can select stop loss in the order type. Intraday Net position. Margin Report.How do I add /delete scrip’s? To add/delete scrip’s. Assets Report. Obligation Report. and Exercise Report.

you can calculate the fair value of futures and option premium and volatility traded on the exchange . The purpose of fund transfer is to transfer funds from your bank account to Religare account and the purpose of fund withdrawal is to transfer fund from Religare account to your bank account. How much is the exposure to race clients in intraday and delivery? Rally clients get an intraday exposure of six times the margin and 0. as and when you request for the transfer and fund withdrawal takes a minimum of 1 day to get the request approved.10 IST in all the three Race platforms. you need to go the links “fund transfer and fund withdrawal”. you need to go to drop down menu of “help” in R-ACE –Pro and then click on shortcuts.e. How long does it take in online fund transfer and fund withdrawal? Online fund transfer happens on a real time basis i.To view the list of all hot key functions. How would the futures and options calculator help me? With futures and options calculator.This will help you to take buy/sell decisions.99 times the margin in delivery. What is auto square off? Auto Square off of all intraday orders will take place at 3. How can I do an online payment? To make an online payment. Is buying allowed in ‘Z’ category scrip’s? .

04% 0.03% Can I do an online funds transfer from any of my bank accounts? .05% 0. and for RALLY Pro are 10. BTST is allowed on selected scrips. How much margin is required from a RALLY client? The minimum margin requirement for RALLY Basic is 5000.05% 0.03% 0. Is BTST allowed in RALLY? Yes.03% 0.04% Gross Monthly Turnover (<5Cr) 0.04% 0.These scrip’s are selected based on their liquidity and are reviewed periodically.30% 0.05% Gross Monthly Turnover (1Cr-5Cr) 0.000. buying is allowed in ‘Z’ category scrip’s. How much is the brokerage charged from an RALLY client? The brokerage structure for RALLY Classic is: Gross Monthly Turnover (>1Cr) Intraday Delivery Derivatives Commodities 0.50% 0. for RALLY Lite is 5000.40% 0.Yes.

proprietary firm.per request.ops@religare. What do I do if I forget my RALLY password or my password gets locked? You can send a mail at rally. Request for physical contract notes is chargeable at Rs20/. Account Opening • Am I eligible for opening an account with Religare? • How can I open an Rally account? • What are the documents required for account opening? • What is POA demat account? • How will I come to know that my account is opened and how long does it take? Am I eligible for opening an account with Religare? Any individual.in requesting to unlock the account or reset the password. . Hindu undivided family (HUF). How do I get contract notes? You will be getting E-contract notes only on a daily basis.Fund transfer and withdrawal can be done from any of these four banks namely: ICICI. A minor is not eligible for opening an account. HDFC. or a company can open an account with Religare Securities. Citibank and UTI.

What are the documents required for account opening? The following documents are required for account opening: 1. Four photographs 4. How will I come to know that my account is opened and how long does it take? . you can call up our helpline 011-30812345 or mail at rally@religare. One cancelled cheque 5.How can I open an Rally account? To open an Rally account. Margin cheque 6. Copy of PAN card 2. Stamp Paper What is POA demat account? POA stands for power of attorney. Copy of address proof 3.in and place a request. This implies that the client has given the right to operate his demat and bank account to Religare. Our representative will visit you from the nearest branch within 48 hours. Account opening cheque 7.

In case you don’t receive the same within this stipulated time you can call us at 011-30812345. How should I proceed? • Rates are not coming on streamer. Also check Microsoft VM> a) Java console enabled) Java logging enabled) JIT compiler for virtual machine enabled. I000 0. Uncheck “Java (Sun)>Use JRE Version for applet” if any. How should I proceed? You need to download and install MS JVM. I tried to login to Rally lite but message in the status bar shows ‘loading Java applet Failed’. Please restart your computer after this. Trouble Shooting • How do I install Rally pro? • I tried to login to Rally lite but message in the status bar shows ‘loading Java applet Failed’. What should I do? How do I install Rally pro? To install Rally Pro.You will find the same on the Rally Lite login page.Your welcome kit will be dispatched within 7 working days. then go to Internet explorer->tools->Internet Options->Advanced.. you need to go to the link Rally Pro on our website and download it from there. then scroll down. .MMM …………………………………………M f this still doesn’t solve the problem. The trading id and password is sent in a separate kit.

switch from Rally Pro to Rally Lite etc.)To resolve such problem delete the old market watch and add a new one .Rates are not coming on streamer.e. What should I do? Market watch gets corrupted if you switch platforms (i.

it should not be surprising to see that Indian Commodities Market is also taking giant strides. growing at a scorching pace and is well poised to occupy its rightful place in the world. Commodity Derivatives trading in India is now done through the electronic trading platform of two popular exchanges NCDEX (National Commodity & Derivative Exchange Limited) and MCX (Multi Commodity Exchange). trading in commodities is restricted to futures contracts only. And this has caught attention of the whole world. Rightly so! The kind of continuously growing turnover which commodities market has seen is incredible. At present. Religare Commodities Limited is a member of both the exchanges (MCX & NCDEX) that allows you to trade in all the commodities traded at both the exchanges.COMMODITIES INTRODUCTION Commodities as a word originated from the French word ‘commodity’ meaning ‘benefit. profit’. These amazing results have transformed commodities as a most sought after asset class. Commodities market is particularly significant to our country as India is essentially a commodity based economy. The various commodities being traded on the exchanges include precious metals. crude oil. . Therefore. benefiting both producers and buyers. This has provided the Indian investors with new emerging investment opportunities in the arena of commodities. agro-commodities amongst others.

To Commodity Trader: A trader can use commodities futures to ensure protection against any adverse change in the prices. aluminums. To Producer: Producer of a commodity can hedge against the price fluctuations by selling the futures contracts of the commodity. A trader can enter into a futures contract for purchase of a certain quantity of the underlying at a particular price on a particular date. commodity futures have rapidly emerged as a major investment tool as they help in diversifying investments and to hedge against inflation. steel etc. risk gets reduced by paying a small amount as brokerage. thereby locking in a desired price to sell produce.BENEFIT OF TRADING One thing especially luring about commodities is that it offers equally great incentives to all involved in the trade. or enter into a futures contract for sale of a particular quantity on a particular date at a . which can be tracked based on the international market movements as well. • Better chance of intraday day trades than other financial instruments. Thus. To Investors: Investors always look for alternative investment avenues where they can diversify their funds to achieve their financial goals. It would insulate producer from adverse market movements as losses in spot market would be offset by profits in the futures market. In financial markets. Commodities as an investment option also offer following advantages to an investor: • High degree of leverage. silver. • Higher reward compared to stocks and other financial instruments. greatest threat to any investor. • Presence of the international commodities like gold. crude oil.

What's the idea behind PMS? Portfolio Management Services manage our client’s wealth more efficiently. Benefits of Portfolio Management Services •Constant monitoring of portfolio’s asset mix to ensure effectively position to meet long-term objectives. and maximizing returns. You get an upper hand in many ways. sectors and funds. constant disclosure of the portfolio on daily and monthly basis. Our portfolio managers adjust the asset mix to reflect the current economic climate and to benefit from opportunities.particular price and be assured of the margins because both purchase price as well as the sale price are fixed reducing the uncertainty and hence the risk associated. reduce risk by diversifying across assets. Expert Portfolio Managers find best of avenues to achieve optimum returns at managed levels of risk. To Exporter: Futures trading is very useful to the exporters as it provides an advance indication of the prices likely to prevail and thereby help the exporter in quoting a realistic price and thereby secure export contract in a competitive market. . Having entered into an export contract. it enables exporters to hedge their risk by operating in futures market. This service could also be called as “transparent collective investments”. •Performance linked fees.

500/- . •Encourages a disciplined approach to investing over a longer time horizon § Account activation charges Rs. 299/§ Minimum margin of Rs. •Investment objectives and goals presented clearly through a personalized profile. •Great flexibility of deploying and exposing the initial investment in the market. easily accessible on browser § NSE cash segment. back-office and trading account § Earn interest on cash margin deposited with us § Online transfer of funds through multiple banks § Lifetime free DP account (No annual maintenance charges)* § Account activation charges Rs. NSE F&O and BSE on single platform § Trade online and over phone § Access your ledger balances and account information over internet and phone § Integrated DP.required § No software installation required. •Diversification across asset classes and investment styles. 5000/.•It defines the customized risk and return. •High water mark level for profit sharing.

5000/.required § No software installation required. back-office and trading account § Online transfer of funds through multiple banks § Lifetime free DP account (No annual maintenance charges)* § Earn interest on cash margin deposited with us § Account activation charges Rs. easily accessible on browser § NSE cash segment. 999/§ Minimum margin of Rs.required § Traders terminal on your desktop § NSE cash segment.10 000/. NSE F&O and BSE on single platform § Real-time streaming quotes § Technical charting (intra-day and EOD) § Multiple watch list § Advanced hot-key functions for faster trading . NSE F&O and BSE on single platform § Real-time streaming quotes § Alerts § Hot key functions § Trade online and over phone § Access your ledger balances and account information over internet and phone § Integrated DP.§ Minimum margin of Rs.

back-office and trading account § Online transfer of funds through multiple banks § Lifetime free DP account (No annual maintenance charges)* § Earn interest on cash margin deposited with us § Trade online and over phone . § Integrated DP.§ Derivative chains § Futures & options calculator § Access your ledger balances and account information over internet and phone.

Wealth management and the Institutional spectrum. Shivinder Mohan Singh. a Ranbaxy promoter group company. Dr. Having spread itself fairly well across the country and with the promise of not resting on its laurels. 1994 with the objects of offering various corporate/ wholesale financial products in the growing market for financial services. Religare Enterprises Limited is the holding company for all its businesses. father of Mr. is one of India’s largest and fastest growing integrated financial services institutions. The Company was incorporated on March 23. structured and being operated through various subsidiaries. it has also aggressively started eyeing global geographies. Religare has also partnered with AEGON. portfolio management services. Religare’s retail network spreads across the length and breadth of the country with its presence through more than 900 locations across more than 300 cities and towns. to offer Life Insurance and Mutual Fund products in India. At the time of his death on July 3. The company offers a large and diverse bouquet of services ranging from equities. one of the largest insurance and pension companies globally. Parvinder Singh. Investment banking and institutional broking services. CORPORATE PROFILE Religare. The venture . insurance broking. Recently. personal finance services. to wealth advisory. Parvinder Singh was the Chairman and Managing Director of Ranbaxy Laboratories Limited & and together with members of his family and entities under control of his family held the controlling Equity stakes in the Company. commodities.ORIGIN OF THE ORGANIZATION The Company was promoted by Late Dr. The services are broadly clubbed across three key business verticalsRetail. 1999. The Promoters together with entities owned. controlled or managed by them/ their families hold the controlling Equity stakes in the Company. NCT of Delhi Haryana on April 19. 1994. It obtained the Certificate of Commencement of Business from the Registrar of Companies. Malvinder Mohan Singh and Mr.

Based on this. The growing list of Financial institutions with which Religare is empanelled as an approved broker is a reflection of the high level service standard maintained by the company. Religare Commodities Limited and Religare Insurance Broking Limited provides integrated financial solutions to its corporate. Religare Finvest Limited. as per some recent published reports. we have a growing network of more than 300 branches and more than 580 business partners spread across more than 300 cities/towns in India and a fully operational international office at London. we provide various financial services which include Investment Banking. Corporate Finance. Religare Securities Limited (RSL) is a leading equity and securities firm in India. Insurance and Mutual Funds.shall combine the international expertise of AEGON with the distribution strength of Religare. Religare operations are managed by more than 3000 highly skilled professionals who subscribe to Religare philosophy and are spread across its country wide branches. Religare Enterprises Limited (A Ranbaxy Promoter Group Company) through Religare Securities Limited. the company started its endeavor in the financial market. Today. Today. The company currently handles almost 4-5% of the total volumes traded on NSE and in the realm of online trading and investments it currently holds a share of close to 8% of the market. Plus. who have proven track record in their respective domains. Religare is driven by ethical and dynamic process for wealth creation. Religare group works on the philosophy of partnering for wealth creation. Religare is proud of being a truly professional financial service provider managed by a highly skilled team. Unlike a traditional broking firm. Equity & Commodity Broking. We not only execute trades for our clients but also provide them critical and timely investment advice. Portfolio Management Services. The major activities and offerings of the . there’s a lot more to come your way. retail and wealth management clients.

Depository participant services.company today are Equity broking. HNI and Corporate Servicing groups. Institutional Brokerage & Research. Investment Banking and Corporate Finance. Religare is also giving in house depository services to its clientele and is one of the leading depository service providers in the country. In a span of less than five years of its retail operations. which not only caters to the need of our institutional clientele but also gives their valuable inputs to investment dealers. Bombay Stock Exchange of India. RSL has recorded a healthy growth rate both in business volumes and profitability which is clearly significant from the growth of its foot prints across India. the company has also recently unveiled a new avatar of its online investment portal armed with a host of revolutionary features RSL is a member of the National Stock Exchange of India. Depository Participant with National Securities Depository Limited and Central Depository Services (I) Limited. Religare has a very credible research and analysis division. and SEBI approved Portfolio Manager Religare has been constantly innovating in terms of product and services and to offer such incisive services to specific user segments it has also started the NRI. Portfolio Management Services. FII. These groups take all the portfolio investment decisions depending upon a client’s risk / return parameter. . To broaden the gamut of services offered to its investors.

The volumes are also pretty high. For today the Nifty has to cross 3914 points to maintain the upward momentum.74 in the next 6-7 sessions. (Religare) has prepared this document. the trend continues to remain up. No representation or warranty. The Bulls failed yesterday to register a high of 3903 points in the Nifty.35 in close. Therefore. the Bulls will survive every Bear scare as sectors are pulled up in rotation. The daily candlestick chart of Indo Asian Fuse shows that it is on the verge of breaking above a “downward sloping channel”. The volumes have also increased in the past 2-3 sessions indicating that Put buying it taking place as a protection against Portfolios. The views expressed are those of analyst. The minimum target is Rs. The Bears hopes were kept at bay as the Cement stocks rallied. The daily candlestick chart of Nifty 3850 PE shows that it is losing downside momentum because of the stagnation in the Nifty. Till then.182 in the next 3-4 weeks. All The above factors clearly indicate that this stock specific rally is a well orchestrated one. Trend line resistance in pink is pegged at 3908 points. Religare Securities Limited [Technical Research. Looking at the above one can buy the 3850 PE at current levels as well as in dips to Rs.165-169 and a maximum target price of Rs. only a big bearish candle today will indicate a correction.130 in close for a minimum target of Rs.43-45 area with a stop loss below Rs. express or implied.138 level with a stop loss below Rs. a prudent decision would be to book profits in rallies or else keep strict stop losses. We seem to be losing upside momentum for the past couple of sessions and a sudden decline would catch most napping.900 points but could not sustain above it. Both the Indices made “doji’s” implying indecision amongst the bulls at these levels. The information contained herein is from publicly available data or other sources believed to be reliable or developed through analysis.61 and if this is crossed then Rs. is made as to the accuracy. However. . Unless and until the 3840-3850 point’s area is broken decisively in closing. This is not an offer to buy or sell or the solicitation of an offer to buy or sell any security or to participate in any particular trading strategy or as an official confirmation of any transaction.PRESENT STATUS The Nifty hit the psychological mark of 3. The A/D ratio continues to remain negative but volumes were higher. One can therefore buy at current levels as well as in dips to the Rs.

availability or use by. Neither Religare nor any of its affiliates. Religare may discontinue research coverage of a subject company or change the opinion(s) without notice. RFL had an outstanding rating of A1 for Rs 2500 million short term debt . or solicit investment banking or act as advisor or lender / borrower to such company (ies) or have other potential conflict or interest with respect to any recommendation and related information and opinions. special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. directors. Copy right in this document vests exclusively with Religare. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published. without prior written permission from Religare. 2750 million short term non convertible debenture programmed of Religare Finvest Limited (Formerly Fortis Finvest limited). The user assumes the entire risk of any use made of this information. any person or entity who is a citizen or resident of or located in any locality. Religare accepts no obligation to correct or update the information or opinions in it. Religare and its affiliates. for any purpose. publication. We do not guarantee the integrity of any e-mail or attached files and are not responsible for any changes made to them. They may perform or seek to perform investment banking or other services for. publication availability or use would be contrary to law regulation or which would subject Religare and affiliates to any registration or licensing requirements within such jurisdiction. in whole or in part. indirect. The recipient should take this into account before interpreting the document. where such distribution. copied. officers. ICRA has assigned ‘A1’ rating to an enhanced amount of Rs. country or other jurisdiction. and employees may from time to time. persons in whose possession this document comes. agents or representatives shall be liable for any damages whether direct. This report is not directed or intended for distribution. directors. Earlier. effect or have effected an own account transaction in. any such restrictions. state. or deal as principal or agent in or for the securities mentioned in this document. should inform themselves about and observes.completeness or fairness of the information and opinions contained in this document. employees. Religare recommends that investors independently evaluate particular investments and strategies. The investment discussed or views expressed may not be suitable for all investors and certain investors may not be eligible to purchase or participate in some or all of them.

including the letter of comfort provided by Ranbaxy Holding Company Limited (RHCL) whereby RHCL has committed to subordinate the unsecured loans amounting to Rs 1 billion given to RFL till the above rated debt is outstanding in RFL’s books. The rating also factors in the close synergies between RFL and Religare Securities Limited (formerly Fortis Securities Limited) which is the stock broking arm of Religare group. . RFL has also received a fresh equity infusion of Rs 200 million and preference share capital of Rs 250 million (Redeemable in 5 years) from its holding company Religare Enterprises Limited in March 06. The rating also draws support from the parentage of the promoters of Ranbaxy Laboratories Limited and the continuous managerial and financial support demonstrated by them.programmed. its adequate risk management systems and its profitable operations. The A1 rating for the enhanced amount takes into account RFL’s rapidly growing financing business volumes. its relatively short track record and the small scale of its operations. The rating is however constrained by RFL’s vulnerability to stock market performance.

GROUP COMPANY .

. MissionProviding financial care driven by the core values of diligence and transparency.VISION & MISSION VisionTo build Religare as a globally trusted brand in the financial services domain and present it as the ‘Investment Gateway of India’.

CLIENT INTERFACE Retail SpectrumTo cater to a large number of retail clients by offering all products under one roof through the Branch Network and Online mode o o Equity and Commodity Trading Personal Finance Services       Mutual Funds Insurance Saving Products Personal Credit Personal Loans Loans against Shares o Online Investment Portal Institutional SpectrumTo Forge & build strong relationships with Corporate and Institutions o o Institutional Equity Broking Investment Banking   Merchant Banking Transaction Advisory .

Life Insurance Company. Religare Aegon Life Insurance . a Joint Venture with Aegon. Religare Aegon AMC .  Corporate Finance Insurance Advisory Wealth SpectrumTo provide customized wealth advisory services to High Net worth Individuals • • • • • Wealth Advisory Services Portfolio Management Services International Advisory Fund Management Services Priority Equity Client Services Arts Initiative New Initiatives Religare is on the fast and ambitious growth trajectory with some interesting plans in the pipeline. . a Joint Venture with Aegon .Personal Loans / Credit Cards / Loan against Property / Mortgage & Reverse Mortgage.Religare Finance .Asset Management Company.

. professional. An open architecture and client centric philosophy “Not just lip service”.Wealth AdvisoryWealth…Grow It. dynamic and diligent processes are what we are truly about…” Wealth Management @ Religare• • To provide investment advisory and execution services To work hand in hand with clients to identify and analyze their long-term To Utilize our full-suite platform with an open architecture along with a fully Supported by dedicated team of highly skilled and qualified wealth managers goals. National and International Foot print. Copyright. We would want you to sleep in peace. Share It…. risk tolerance and existing asset base • focused client centric approach to offer customized solutions for clients • and research professionals. Our Value Proposition• • • • • Strong lineage and pedigree. innovative and fully client centric human capital.. Young.Book by the same name by Stuart Lucas "At Religare. . Spend It. Full suite platter of services from the Religare umbrella. partnering with you relentlessly…. but never would we want your wealth to sleep or go into a slumber…Ethical. we are always at It. Protect It.

. Critical Steps in our Client Centric Operating Process • • • • Risk Profiling Research & Asset Allocation Product Recommendations Review & Rebalancing International Advisory Fund Management Services (AFMS) . Mutual Funds and Debts are some the key instruments available and the clients have the option to choose from various asset allocation modules.A new horizon for international investments We provide our wealth clients an opportunity to invest in international financial instruments (currently limited to the US).Product Recommendations Equities (Including International) • • • • Debts Commodities Structured Products Emerging Investment Classes. Equities.

Patronage and favorable regulatory developments) Religare's Edge Exclusive Tie-ups with full suite broking firms in the US and top of the line institutional research service providers Portfolio Management Service Portfolio Management Service is a magnum opus banquet laid by Religare to address the varying investment preferences. viz Panther. Selling discipline and use of derivatives to control volatility. and portfolios are customized to suit the unique requirements of investors.Why Invest Overseas? • • • Avenues for enhancing returns. sound investment decisions. • • • . objectives and risk tolerance of our investors Investment Philosophy. Religare PMS currently operates four portfolio management schemes. We believe that our investors are better served by a disciplined investment approach. Tortoise. Overall to enhance absolute return for investors. • disciplines. Elephant. • Stock specific selection procedure based on fundamental research for making Focus on minimizing investment risk by following rigorous valuation Capital Preservation. which combines an understanding of the goals and objectives of the investor with a fine tuned strategy backed by research. and Caterpillar. Each scheme is designed keeping in mind the varying tastes. minimizing risk and portfolio diversification Global outreach of opportunities Pre approved route for resident individuals to invest (Healthy Govt. PMS pays attention to details. As a focused service.

Tortoise 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. The scheme is suitable for the “Medium Risk Medium Return” investor with a strategy to invest in companies which have consistency in earnings. Elephant The Elephant portfolio aims to generate steady returns over a longer period by investing in securities selected only from BSE 100 and NSE 100 index. growth and financial performance. It is suitable for the “High risk high return” investor with a strategy to invest across sectors and take advantage of various market conditions.Our Schemes Panther The Panther portfolio aims to achieve higher returns by taking aggressive positions across sectors and market capitalizations. . as these companies have steady performance and reduce liquidity risk in the market. This plan is suitable for the “Low Risk Low Return” investor with a strategy to invest in blue chip companies.

you are not limited by a particular individual’s investment style. This scheme is suitable for investors with a high risk appetite. This means that your portfolio is not churned needlessly.Caterpillar The Caterpillar portfolio aims to achieve capital appreciation over a long period of time by investing in a diversified portfolio. higher dependability and unhindered continuity. transparent & process driven approach and ensure that your money gets the care it deserves. While we offer you the services of a Dedicated Relationship Manager who is at your service 24x7. No experts. The Religare Edge We serve you with a diligent. potential fancy for a particular sector in the coming years/months. stocks in their early stages of an upturn or for those which are in sectors currently ignored by the market. a Ranbaxy promoter group company with a solid reputation for an ethical and scientific approach to financial management. Using . No hidden profits We ensure that a part of the broking at Religare portfolio management services is through external broking houses. business diversification leading to a better operating performance. For you. this means lower risk. The investment strategy would be to invest in scrip’s which are poised to get a rerating either because of change in business. we do not depend on individual expertise alone. only expertise Religare PMS comes to you from Religare. Moreover.

Further.more broking firms gives us access to a larger number of reports and analysis. Daily disclosures Religare Portfolio Management Services gives you daily updates on your investment. You can pinpoint where your money is being invested. enabling us to make better. No charge till you profit So sure are we of our approach to portfolio management that we do not charge you for our services. Furthermore. You could also choose to enjoy the freedom to execute your own trades through our online mechanism. your portfolio is customized to suit your investment objectives. . . with its presence in more than 900 locations across more than 320 towns & cities. 24x7. A highly process driven. Products and services profile of the organization Trading in Equities with Religare truly empowers you for your investment needs. diligent approach backed by powerful Research & Analytics and one of the “best in class” dealing rooms ensures that you have a superlative experience. instead of waiting till the end of the month to keep track. This means. Religare also has one of the largest retail networks. more informed decisions. Customized investment options Religare Portfolio Management Services invite you to invest across four broad portfolios to suit your investment needs. until your investments start showing profit. you can walk into any of these branches and connect to our highly skilled and dedicated relationship managers to get the best services.

The facilitating backbone for this business is our strong branch network across the country.Religare Commodities Limited (RCL) was initiated to spearhead Exchange based Commodity Trading. The team offers a wide portfolio of instruments and services such as Mutual Funds.com . Insurance.religareonline. Religare has recently entered the domain of Personal Finance Advisory Services (PFS) keeping in mind the market dynamics and the burgeoning middle net worth individuals (MNI’s) in India. The PFS team caters to the personal finance requirements and needs of individual retail clients by providing them with the best services. guidance and information under one roof which enables and empowers them to take the right decisions keeping in mind all possible avenues for investments. MCX and NMCE. The Operating Fabric-Commodities Business In terms of the business structure. RCL caters to retail clients. highly skilled and dedicated professionals strive to offer the client tailor-made investment solutions across the country. the HNI base through the PCG desk. RCL is a trade facilitator providing the platform to trade in commodities. As a member of NCDEX. and Portfolio Management Services etc. Our business philosophy is to treat each client situation as unique. Investing online will never be the same again with our new 360 degree portal www. We are propelled by our group vision and desire to strive tirelessly and aim to be the best within this category. Grounded in the Religare philosophy. requiring customized solutions. Our list of corporate clients reads like a Who’s Who of the Indian Industry and we have been successful in providing them with practical customized solutions for their requirements. IPOs. the farmers and commodity traders in the rural areas through it’s Mandi locations across the country and the Corporate / Institutional business through one of the “best in class” Corporate Desks.

Earn interest on cash margin deposited with us. Mutual Funds. NSE cash segment. IPOs. So get empowered. 24*7 Customer Support Center. easily accessible on browser.5000/. o o o o o Rally lite o o o o Account activation charges Rs. sms Integrated DP. on our select product schemes available through our highly sophisticated and customized platform Rally (Religare Advanced Client Engine). enrich your experience of investing online and open yourself to a whole new world of possibilities..required. Trade online and over phone.299/. Access your ledger balances and account information over internet.499/. Online transfer of funds through multiple banks.required. Minimum margin of Rs. also get TRADE REWARDS each time you invest..5000/.Now you can not just invest online in Equities. No software installation required. NSE cash segment. NSE F&O and BSE on single platform. and over phone. we also offer you a host of other revolutionary features such as Zero Percent Brokerage. NSE F&O and BSE on single platform. RAlly o o o o o o Account activation charges Rs.. Commodities and much more but. Besides this.. Lifetime free DP account (No annual maintenance charges). No software installation required. Minimum margin of Rs. easily accessible on browser. Interest on cash margin. back-office and trading a/c. exposure Upto 20 times your cash margin etc. .

000/. Minimum margin of Rs. NSE F&O and BSE on single platform Real-time streaming quotes Advanced alerts Technical charting (intra-day and EOD) Advanced hot-key functions Futures & options calculator Access your ledger balances and account information over internet.999/. Traders terminal on your desktop NSE cash segment. o o o o o Rally pro o o o o o o o o o o Account activation charges Rs.o o o o o Real-time streaming quotes Alerts Hot key functions Trade online and over phone Access your ledger balances and account information over internet. sms Integrated DP.. back-office and trading a/c Online transfer of funds through multiple banks Lifetime free DP account (No annual maintenance charges) Earn interest on cash margin deposited with us 24*7 Customer support center and over phone. sms Integrated DP.10.required. back-office and trading a/c Online transfer of funds through multiple banks and over phone. o o .

20% 0.04% 0.10% .03% Delivery Derivatives 0.04% Monthly Turnover (More than 5 cr. 40. to 5 cr.) Intraday 0.03% Free Volumes Allowed Daily Free Intraday & Derivatives volumes Daily Free Delivery Volumes Brokerage (on Daily Volume) Rs.40% 0.3.000 Intraday/Derivative Volume (in Rs.o o o Lifetime free DP account (No annual maintenance charges) Earn interest on cash margin deposited with us 24*7 Customer support centre Brokerages Monthly Turnover (Less than 1 cr.15% 0.05% 0.30% 0.05% Monthly Turnover (1 cr.015% 0.30% 0.000-1 lakh 1 lakh-10 lakh 10 lakh -30 lakh Above 30 lakh Brokerage Nil 0.000 10.) Upto 10.01% Delivery Volume (in Rs.02% 0.000 Rs.) 0.) Upto 1 Lakh 1 lakh-10 lakh 10 Lakh-1 Cr 1cr – 3 Cr Above 3 Cr Brokerage Rate Nil 0.03% 0.50% 0. 00.) 0.

I believe that most of these tie-ups never delivered in terms of value.D.2.400 Rs.RM Facilities o o o o Online Tips Religare Research centre Exposés 20 times in intraday Facility of e. As such both have their competencies and over time there will be clarity on how these players fare. The number of deals happening from India is on the rise and foreign players would also like to make the most of it. Indian players understand this market better than anyone else.4. 500 Rs. 500 Rs. 000 Schemes Monthly Subscription Quarterly Subscription Half-yearly Subscription Annual Subscription Growth 5. 1. 3-Photograph Saving A/c cheque Charges Rs. . However.trading Requirements o o o o o Pan Card Address proof Photo I.

I see many youngsters entering the equity markets at a very early age. and given the growth potential. that seems to be the case. The retail market itself is big and growing. is good.Foreign broking houses have now taken on more than 80% of the institutional sales and have left Indians to concentrate on the retail side of the business. What are the sectors that you are bullish on? . There is a lot of wealth to be tapped in the second-tier towns. It has to happen over time. This hunger for excellence is good for the country. We are long-term investors and we believe that investors should put their money in the equity markets at a young age and this is happening. corporate clients and retail. I see a lot of passion in today's youngster to achieve more. I find retail interesting because people have started to take investments in the equity markets very seriously. However. but greed when focused. this should get wiped out over a time as players who give the best services will net the biggest pie of the business. which presents a good opportunity for Indian broking firms. But most equity investors today seem to be focusing on short-term gains rather than holding on for the longer term? Isn't this greed? What is wrong with greed! All of us are greedy in some way or the other. I think these are good signs. more and more players are concentrating on this market. The foreign broking houses are dominating the institutional side of the business as many of these institutions are FIIs. This works well for the foreign investors. Does this make you uncomfortable? Unfortunately. This way we can also add more value. I don't think the foreigners would be interested in this market. What businesses is Religare concentrating on? Our main areas of focus are HNIs. I may sound a lot like Gordon Gekko from the movie Wall Street.

I am going purely by the demand-supply mismatch.) . The financial and other implications of material impact of risks concerned. This has nothing to do with financial valuations or the views of my portfolio managers. reports and other sources that the Company and the Lead Manager believe to be reliable. there are Risk Factors where the impact is not quantifiable and hence the same has not been disclosed in this Letter of Offer. including the risks before making any investment in our Equity Shares. Neither the Company nor the Lead Manager has independently verified such data. wherever quantifiable. healthcare and infrastructure. All these three sectors have a long way to go. What is your advice to investors? In this environment everybody is a genius. Investors should look for long-term investments. The markets can become choppy anytime and then investors should seek professional advice. results of operations and financial condition could suffer and the price of our Equity Shares could decline. our business. But the direction is right and reforms are in place as such one can be sure that these sectors will deliver value. If any of the following risks actually occur. the market momentum will slowdown and investors will find it difficult to tread in those waters.I like financial services. Nobody needs your advice as everyone is making money. Risk FactorAn investment in Equity Shares involves a high degree of risk. All the information contained in this Letter of Offer should be carefully considered. This data has been obtained from industry publications. But over a period of time. (This Letter of Offer also includes statistical data regarding the Non-Banking Financial industry. have been disclosed in the Risk Factors mentioned below. However.

Further.2005 31.2002 (2224. thereby significantly are reducing its Accumulated Losses. The Profits of the Company in the past have been negative due to slowdown in the Indian Economy during mid-nineties.INTERNAL RISK FACTORS Risks related to the Company:Profitability of the Company has been negative in the past.76) (7289.03. This had a significant impact on the performance of the Company in the past. along with its significant efforts in lowering the operating. the Company unlocked significant values of its investments in its two Wholly-owned Subsidiaries during the Financial Year 2005-06. which had an adverse impact on the industrial climate giving rise to increased delinquencies in the financial sector coupled with stiff competition posed by multinationals and financial institutions having access to low cost funds. Subsequently.03.03.35) (8615. Lacs) 31.2003 31.2004 31.77) (2911.2006 31. rescheduling and repossession of assets and filing of legal cases against the defaulting clients. the Company focused its thrust on the recovery/ settlement of overdue debts. A summary of the Accumulated Losses in the last five years is furnished herein below: (Rs. personnel and administrative costs and generation of fee based income by focusing on non-fund based activities yielded positive results. The remedial actions undertaken by the Company for the purpose included restructuring. This strategy of the Company.03.63) (3691.03.46) Litigations/disputes pending against the Company There are 15 litigations/disputes pending against the Company as summarized below: .

11. 2. 1824. 3. Any changes in the regulatory framework affecting NBFCs including the provisioning for NPA. In addition. our future financial performance and the price of our Equity Shares. Our growth will depend on our ability to access funds at competitive rates. Accordingly our growth will depend on our ability to raise funds at competitive costs.14 Lacs Sales Tax 8 Rs. applicable tax rates could adversely affect the profitability of our business. Material changes in the Regulations that govern us could cause our business to suffer and the price of our Equity Shares to decline. We are dependent on raising funds from debt market and other commercial borrowings for our growth. Consequently.35 Lacs The financing industry is becoming increasingly competitive and our growth will depend on our ability to compete effectively. our Promoters will hold majority of our Equity Shares. Our Promoters will hold majority of our Equity Shares after the Issue and can therefore determine the outcome of Shareholders’ voting after the completion of this Issue. capital adequacy requirements. competition in financing industry has increased tremendously. 11. our Promoters will be able to exercise a significant degree of influence over us and . Over the last several years.00 Lacs Income Tax 6 Rs. Civil Proceedings 1 Rs.Particulars of cases Number of cases Amount involved wherever quantifiable 1. we are subject generally to changes in Indian Laws as well as changes in Government Regulations and Policies and Accounting Principles. Our competitors may have greater resources than we do and access to cheaper funds. NBFCs in India are subject to supervision and regulation by the RBI.

Any future issuance of Equity Shares by the Company may dilute the holdings of investors in our Equity Shares. The details of the Group Companies which have incurred losses in any financial year during the last 3 financial years are as follows: EXTERNAL RISK FACTOR- . 2006.will be able to control the outcome of any proposal that can be approved with majority of Shareholders’ vote. As on March 31. determination of which against the Company may adversely affect the financial position: (Rs. affect the market price of our Equity Shares. Lacs) Particulars As on March 31. in turn. 2006 Sales Tax Demand 11. There are certain contingent liabilities that the Company has not provided for.35 Some of the Group Companies has incurred losses Some of the Group Companies has incurred losses in the recent years. the Company has some contingent liabilities detailed below. which may. Any future issuance of Equity Shares by the Company may affect the market price of our Equity Shares.

The leadership of India has changed a number of times since 1996. the rate of Economic Liberalization have been affected by the coalition nature of the Government. manufacturing and agricultural sectors is declining. The current Central Government. real GDP grew at 8. manufacturing and services sector. it could have an adverse effect on our business. the Indian Economy is in a state of transition.0%in Fiscal 2003. The role of the Central and State Governments in the Indian Economy as producers. It is difficult to gauge the impact of these fundamental economic changes on our business. A slowdown in the Indian Economy could adversely affect our business.A slowdown in economic growth in India could cause our business to suffer Our performance and the quality and growth of our assets are necessarily dependent on the health of the overall Indian Economy. Political instability or changes in the Government could delay further liberalization of the Indian Economy and adversely affect economic conditions in India generally. Although the current Government has announced Policies and taken initiatives that support the Economic Liberalization Policies that have been pursued by previous Governments. In addition. in coalition with several political parties. . The Share of the services sector of the Economy is increasing while that of the industrial. During the first quarter of Fiscal 2006.1% compared to 7. If there was to be any slowdown in the Economic Liberalization or a reversal of steps already taken.55 during the first quarter of Fiscal 2005. Indian Economy can be adversely affected by a general rise in interest rates. including our ability to grow our asset portfolio. deterioration of infrastructure or various other factors affecting the growth of industrial.5% in the Fiscal 2004 and 4. consumers and regulators has remained significant. came to power in May 2004. successive Indian Governments have pursued Policies of Economic Liberalization.9% in the Fiscal 2005. weather conditions adversely affecting agriculture. 8. which could impact our financial results and prospects Since 1991. The Indian Economy has shown sustained growth over the last few years with real GDP growing at 6. the quality of our assets and our ability to implement our strategy.

The problems faced by individual Indian Financial Institutions and any instability in or difficulties faced by the Indian financial system generally could create adverse market perception about Indian Financial Institutions. This. our Shareholders’ funds and the market price of our Equity Shares. civil unrest and other acts of violence or war involving India and other countries could adversely affect the financial markets and our business Terrorist attacks and other acts of violence or war may negatively affect the Indian markets on which our Equity Shares will be traded and may also adversely affect the worldwide financial markets.Financial difficulties and other problems in certain Financial Institutions in India could cause our business to suffer and the price of our Equity Shares to go down. In addition. Certain Indian Financial Institutions have experienced difficulties during recent years. banks and NBFCs. our future financial performance. may be affected by financial difficulties and other problems faced by certain Indian Financial Institutions. which could adversely affect the market price of our Equity Shares. . Some Co-operative Banks (which tend to operate in rural sector) have also faced various financial and liquidity crisis. These acts may also result in a loss of business confidence. which in turn. There has been a trend towards consolidation of weaker banks and NBFCs being merged with stronger entities. Terrorist attacks. economic and political events in India could have a negative impact on us. India has also witnessed civil disturbances in recent years and it is possible that future civil unrest as well as other adverse social. could adversely affect our business. Such incidents could also create a greater perception that investment in Indian Companies involves a higher degree of risk and could have an adverse impact on our business and the market price of our Equity Shares. We are exposed to the risks of the Indian financial system. in turn. any deterioration in relations between India and Pakistan might result in investor concern about stability in the region.

6) Nifty futures and spot were in a slight mismatch at the end of the last trading session.e. Nifty futures tested fresh low but S&P CNX Nifty did not breach the low posted on 12 June i. 65.8. 4100.888 Equity Shares of Rs. Issue Size 1. Cost per Share to the Promoters Rs. Lacs) 1. 10 each 4. 9. Adjusted Pre-Issue Net worth (as on 31/03/2006) (Rs. our financial performance.52 2. This could have a material adverse effect on our business. Adjusted Pre-Issue Net Asset Value (as on 31/03/2006) (Rs. nifty futures has been range bound for the past few days. the interest rates and other commercial terms at which such additional financing is available.Any downgrading of India’s debt rating by an International Rating Agency could have a negative impact on our business.40 3. The discount of nifty futures to nifty spot increased towards the close signaling liquidation of intraday long positions and adding of new short positions. Technically.08 Market Outlook Nifty Futures (1 month series) :( 4088. our ability to raise financing for onward lending and the price of our Equity Shares. Notes to Risk Factors 1. Lacs) 361. with a bearish bias as it has posted lower lows but has been unable to move and sustain above the strong . Any adverse revisions to India’s credit ratings for domestic and international debt by International Rating Agencies may adversely impact our ability to raise additional financing. 34. The open interest has touched record levels as prices are falling signaling short position build up in the system.

and above that. Religare recommends that investors independently evaluate particular investments and strategies. The investment discussed or views expressed may not be suitable for all investors and certain investors may not be eligible to purchase or participate in some or all of them. it is likely to move down to 4020 with some support at 4053. This document has been prepared by Religare Securities Limited (Technical Research Department). special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. The global market cues are positive and a pull back rally seems to be very much on the cards. On the lower side. Religare and its affiliates. They may perform or seek to perform investment banking or other services for. effect or have effected an own account transaction in. No representation or warranty. The strong supply region is between 4187 – 4198 which needs to be decisively crossed to signal strength. employees. directors. at 4153.resistance levels. This is not an offer to buy or sell or the solicitation of an offer to buy or sell any security or to participate in any particular trading strategy or as an official confirmation of any transaction. 4083 – 4074 is now a critical support zone since a breach of this will signal continuation of the downswing. The cements sector has given a pull back after a sustained downswing and now it seems that the auto sector is ripe for a corrective upswing. The views expressed are those of analyst. agents or representatives shall be liable for any damages whether direct. indirect. directors. The immediate resistance for today is at 4115. The user assumes the entire risk of any use made of this information. Neither Religare nor any of its affiliates. officers. is made as to the accuracy. Below 4074. and employees may from time to time. or deal as principal or agent in or for the securities mentioned in this document. express or implied. Religare accepts no obligation to correct or update the information or opinions in it. or solicit investment banking or act as advisor or lender / borrower to such company (ies) or have other potential conflict . Religare may discontinue research coverage of a subject company or change the opinion(s) without notice. completeness or fairness of the information and opinions contained in this document. The information contained herein is from publicly available data or other sources believed to be reliable or developed through analysis.

The recipient should take this into account before interpreting the document. state. where such distribution. 360- . any person or entity that is a citizen or resident of or located in any locality. availability or use by. This report is not directed or intended for distribution. publication availability or use would be contrary to law regulation or which would subject Religare and affiliates to any registration or licensing requirements within such jurisdiction. The internet trading facility will be part of a value-added 3-in-1 offering for the bank’s savings account customers. country or other jurisdiction. though a and integrated partnership. one of the fastest-growing new-generation private-sector banks in the country. We do not guarantee the integrity of any emails or attached files and are not responsible for any changes made to them by any other person. should inform themselves about and observes. publication.or interest with respect to any recommendation and related information and opinions. today announced their strategic tie-up. any such restrictions. offering them a savings and a DP account from the Bank along with an internet trading account. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published. India’s leading integrated financial services provider. without prior written permission from Religare. Religare-IndusInd Bank Join hands integrated partnership to augment customer delight holistic Religare. Religare with its state-of-the-art. will initially focus on seamlessly offering Religare’s internet trading services platform to the Bank’s customers. persons in whose possession this document comes. and IndusInd Bank Ltd. to be eventually followed by a roll-out of the entire spectrum of Religare’s services to the Bank’s customers. for any purpose. value-added. in whole or in part. copied. Both parties have pledged to work closely and leverage each other’s strengths to eventually ensure “Customer Delight”. The tie-up. Copy right in this document vests exclusively with Religare. powered by Religare.

Speaking on the occasion. We are confident that this extended reach will also help us in driving volumes and propel our growth trajectory significantly in the long term”. is one of the leading new-generation private-sector banks in India which commenced its operations in 1994. This integrated tie-up is to demonstrate Religare’s close involvement in this initiative and establish a sound business model for the industry. CEO & Managing Director.28. The Bank currently has a network of 170 branches. 700 crores and is poised for greater growth in the years ahead. The Bank recently had a successful GDR issue and its net worth touched Rs. 1056 crores as on March 31. The Bank posted a total business turnover of Rs. spread over 141geographical locations in 27 states and union territories . Religare representatives will also be available at various IndusInd branches and participate in customer calls if required. Religare Enterprises Ltd. 2007. Religare will have highly-trained dedicated teams assigned for this activity working closely with IndusInd Bank to provide the support required for servicing the customers effectively. This alliance will allow customers to seamlessly execute their transactions to suit their needs and demands.degree portal and IndusInd with its network. Apart from providing support and orientation to the IndusInd team. The synergy and strengths of both the institutions give us the opportunity to offer state-of-the-art services to customers. cash-rich and time-poor new-age consumers. said. ethos and customer-centric approach plan to capitalize on the fast-growing phenomenon of internet trading and seamlessly cater to the convenience-and value-seeking. Its network expansion received a fillip with the Bank securing 40 authorizations from Reserve Bank of India for new branches and 100 offsite ATMs in the last calendar year. About IndusInd Bank IndusInd Bank Ltd. “Our tie-up with IndusInd Bank is in line with our strategy of reaching out to more number of customers through the banking channel. Religare’s alliance with IndusInd Bank will be more than a mere structural tie-up. Sunil Godhwani. Mr.

The partnership will be implemented by AEGON and Ranbaxy Promoter Group Company Religare. which provides financial services across India through its more than 150 offices and 300 partner locations.across the country. AEGON and Ranbaxy Promoter Group today announced that a memorandum of understanding has been signed to jointly enter the insurance and asset management markets in India. THE HAGUE The Netherlands. . Entering the Indian market continues AEGON's strategy of expanding into countries that offer longterm growth opportunities for insurance and investment products. In addition. By combining AEGON's international insurance and asset management expertise with Religare's broad spectrum of financial services and strong distribution capability. India has long been identified as one of AEGON's target markets given its sizeable population and rapidly developing economy. the relatively low penetration level of insurance in the country. IndusIand Bank also has a representative office each in Dubai and London. AEGON and Religare intend to create a platform to successfully market insurance and asset management products across India. and the continued strong growth rates projected for the insurance sector in coming years. AEGON and Ranbaxy Promoter Group expect to announce a transaction later this year. The Bank has proactively adopted the requirements of ISO 9001:2000 quality certification for its entire network of branches.

the Netherlands and the United Kingdom. Hungary. AEGON's three major markets are the United States.000 people. With headquarters in The Hague. an investor. employees and business partners. Spain and Taiwan. THE HAGUE and NEW DELHI. Czech Republic. AEGON's business model is to empower local business units to identify and provide products and services that meet the evolving needs of customers. transparency and trust constitute AEGON's core values as management and employees continually strive to exceed the expectations of customers. quality. AEGON takes pride in balancing a local approach with the power of an expanding global operation. shareholders. Poland. AEGON companies employ approximately 27. In addition. December 28/PRNewswire/ -Promoter Group today signed definitive agreements to jointly enter the life insurance and asset management business in India. and a strong provider of investment products. AEGON is driven to deliver new thinking and its ambition is to be the best in the industry. will hold the . The ventures will be implemented by AEGON and Religare.About AEGON AEGON is one of the world's largest life insurance and pension companies. the Group is present in a number of other countries including Canada. using distribution channels best suited to local markets. (Euronext Amsterdam) AEGON and Ranbaxy Promoter Group Sign Final Agreements for Life Insurance and Asset Management Businesses (28/12/06 08:07 CET) AEGON and Ranbaxy Promoter Group Sign Final Agreements for Life Insurance and Asset Management Businesses. Respect. AEGON and Ranbaxy Ranbaxy Promoter Group will hold a 44 percent stake in the life venture. Slovakia. the Netherlands. the financial services division of Ranbaxy Promoter Group. China. AEGON a 26 percent stake and Bennett Coleman.

" Religare is expanding its financial business both in India and overseas.V. said Malvinder Mohan Singh of the Ranbaxy Promoter Group. member of the Executive Board of AEGON N. said Alexander Wynaendts.balance. The asset management venture has been structured on an equal ownership basis between Ranbaxy Promoter Group and AEGON. "With this partnership we demonstrate our long term commitment to the financial services sector". We empower our local business units to identify and provide products and services that meet the evolving needs of our customers. using distribution channels best suited to their . Also commenting on the partnership. "We are confident that with Religare as our partner. "We are very happy to join hands with AEGON to establish business in the high growth areas of life insurance and asset management". Shivinder Mohan Singh of the Ranbaxy Promoter Group said: "These ventures are part of the strategic initiatives of the Group to consolidate its position and become a meaningful player in the financial sector covering a wide spectrum of activities. "India is an important market for AEGON given the significant growth potential for the products and services we provide". and a strong provider of investment products. we can build on our respective capabilities to maximize the opportunities emerging across the country. he added." AEGON is one of the world's largest life insurance and pension companies.

In addition.000 people. AEGON companies employee approximately 27. Hungary. . the Netherlands and the United Kingdom.local markets. Czech Republic. Poland. Slovakia. Spain and Taiwan. AEGON's three major markets are the United States. the Group is present in a number of other countries including Canada. China. the Netherlands. With headquarters in The Hague. We take pride in balancing a local approach with the power of an expanding global operation.

The commitment period for the investors would be four years The investment focus of the ER Capital India Fund will primarily be to target the capital requirements of mid sized enterprises with a two pronged approach of sector and geographical focus. “The private equity market in India is under served. ER Capital India Fund will leverage Evercore’s investment expertise and global relationship network and Religare’s strong local relationships. The new fund. The fund would target investors from Southeast Asia. Retail. Europe. Sunil Godhwani. Manufacturing and Infrastructure. Retail. and Sponsors commit US$20m to ER Capital India Fund (ERCIF) ERCIF to target core sectors-Healthcare.1% in US. Manufacturing. May 25. coupled with largest retail branch network with broad geographic reach in the Indian marketplace. Basic Infrastructure. Mumbai.RELIGARE TO LAUNCH PRIVATE EQUITY FUND Targets launching US$150m Fund for investment into India growth opportunities. By deal size. and Financial Services. The two sponsors aim to raise US$150m and are targeting India-based high-growth and mid-sized private equity investment opportunities. The ER Capital India Fund will have a tenor of seven years. investment banking expertise. CEO & Managing Director. Religare said. At penetration level of 0. the size of investments will be between US$10m and US$20m. Financial Services. Europe and Gulf region. called the ‘ER Capital India Fund’.8 % in European Union and 1. 2006: Religare. have formed a joint venture to launch a new private equity fund. we see tremendous growth opportunity . a diversified financial services provider and a Ranbaxy promoter group company along with Evercore Partners. Focus rising from SE Asia.Mr.1% of GDP for Asia as compared to 0. with a provision for one-year extension. will start with capital commitment of $20m from Evercore. a US-based leading advisory and investment firm. By Geographic area it would aim to provide capital across Tier II and Tier III cities providing efficient growth opportunity. Amongst the sectors ERCIF will focus on Healthcare.

Our aim is to fulfill the growing need of capital from the mid-sized Indian enterprises and also bring in value-added. Chairman. credible and stable investors and to be a part of institutionalizing high standards of corporate governance.” .” Mr. Malvinder Mohan Singh. We would be delighted to partner Indian private enterprises and entrepreneurs to transform their businesses into a success story. will capitalize on growing opportunities in the private equity industry in India. Religare and CEO & Managing Director. Ranbaxy Laboratories said. the new ER Capital India Fund.for private equity investment. “The launch of the ER Capital India Fund Is one of the continuing steps for Religare to make it one of the leading players in the financial services market in India and abroad? With successful and demonstrable investing track record and unrivalled branch network. fuelled by sustained growth in the economy.

RESEARCH PROBLEMS OF FINANCIAL INSTITUTION
Research innovations, tools and expertise when solving their business problems.

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Advanced Networking SolutionsCutting-edge models, algorithms, software and expertise help quickly and accurately design, monitor and optimize enterprise networks and networked applications.

Business Optimization and AnalyticsDesigned to optimize, plan, model, analyze and transform companies into on demand businesses.

CollaborationAssesses, designs and implements innovative tools to support communication among employees, suppliers, partners and clients.

E-business Systems and ArchitectureDesigns and helps deploy cutting-edge applications, middleware and Web content.

Grid and Autonomic Solutions-

Cutting-edge models, software, designs and expertise help quickly and efficiently evaluate, design, pilot and optimize grid and autonomic capability in distributed computing systems.

Information Mining and ManagementHelps clients gain business insight from structured and unstructured data, text, voice, video, etc.

Innovation ManagementIntroduces new ways of thinking, working, managing and structuring businesses and new tools and capabilities for doing so.

Mobile EnablementApplies new wireless and pervasive technology to improve security, reliability and integration. Product Lifecycle ManagementImproves product development processes through better tools, methodologies and collaboration.

Security and PrivacyAccesses, designs and implements enhanced security processes and tools.

Supply Chain SolutionsHelps optimize, plan, model and analyze complex supply chain and transportation processes.

Technology-Based LearningProvides a set of tools designed to improve teachers’ productivity, a prototype that assembles just-in-time learning for users and a methodology that helps measure the value or effectiveness of a learning program.

The Board of Directors of the Company or the Committee authorized to act on its behalf Company/Issuer/FFSL : Fortis Financial Services Memorandum or MOA : Memorandum of Association Average Total Assets: Average of opening and closing balance of Gross NPAs : Total of overdue and future receivables (excluding As reduced by unmatured finance charges on NPAs Gross Spread : Difference between the Total Income earned by us and Expenditure incurred by us for the fiscal / period measured as a Percentage of our Average Total Assets Group Companies : Companies falling under the category of Management” within the meaning of Section 370(1B) of the Companies Act. 1956. Net NPAs : Gross NPAs net of total provisions Limited • • Total Assets for the fiscal.COMPANY/INDUSTRY RELATED TERMS • • • Articles or AOA: Articles of Association of the Company Board. Malvinder Mohan Singh and Mr. • securitized assets) • • interest • • • “Companies under the Same • • • • Promoters: Mr. • Promoter Group Companies : Companies listed in the Shareholding Detailed under Chapter V of this Letter of Offer titled “Capital Structure” and the Companies falling under the definition of “Promoter Group” within the meaning of SEBI Guidelines. Pattern of the Company as • • • . Shivinder Mohan Singh. the Promoter Group Companies and the Business ventures promoted by Promoters.

• Limited • • • • • be) • • Amortization • • • amendments • • • • .ABBREVIATION • • • • • • Act : The Companies Act. 1995 registered With SEBI and as Accountants of India. 1956 and amendments thereto ACA : Associate of Chartered Accountants ACERC : Asian CERC Information Technology Limited AY : Assessment Year AGM : Annual General Meeting AS: Accounting Standards as issued by the Institute of Chartered BSE/Designated Stock Exchange : The Bombay Stock Exchange CAF : Composite Application Form CAGR : Compounded Annual Growth Rate CDSL : Central Depository Services (India) Limited CII : Confederation of Indian Industry DEMAT : Dematerialized (Electronic/Depository. Depreciation and Tax and EGM : Extra-Ordinary General Meeting EPS : Earnings Per Share FEMA : Foreign Exchange Management Act. as the context may DP : Depository Participant EBIDTA : Earnings Before Interest. 1973 FICCI : Federation of Indian Chambers of Commerce & Industry FII : Foreign Institutional Investor as defined under SEBI (Foreign Institutional Investors) Regulations. 1999 and the subsequent FERA : Foreign Exchange Regulation Act.

: Income Tax Permanent Account Number/General Index PBIDT : Profit Before Interest. 1997 : SEBI (Substantial Acquisition of 1997 and subsequent amendments thereto Stock Exchange : BSE Reference Number • • • • Shares and Takeovers) Regulations. NPPA : National Pharmaceuticals Pricing Authority NR : Non-Resident NRE ACCOUNT : Non-Resident External Account NRI : Non-Resident Indian NRO ACCOUNT : Non-Resident Ordinary Account NSDL : National Securities Depository Limited OCB : Overseas Corporate Bodies PAN/GIR No.• • • • • • • • • • • • • • • • • • • • Defined under FEMA (Transfer or Issue of Security by a Person Resident Outside India) Regulations. 2000 and under other applicable Laws In India FY : Financial Year GOI / Government : Government Of India HUF : Hindu Undivided Family IT : Income Tax Act. LOO : Letter of Offer MIS : Management Information System NBFC: Non-Banking Financial Companies. • • . Depreciation and Tax RBI : Reserve Bank of India SEBI : Securities and Exchange Board of India SEBI (SAST) Regulations. 1961 KYC : Know Your Customer Lead Manager to the Issue: Systematix Corporate Services Limited.

“contemplate”. “should”. equity prices or other rates or prices. changes in Domestic and Foreign Laws. the performance of the financial markets in India and globally. “future”. the general. etc. its growth and expansions. “will continue”. “expect”. For further discussion of factors that could because the Company’s actual results to differ see the section titled “Risk Factors” beginning on Page No. economic and political conditions in India which have an impact on its business activities or investments. “will pursue” and similar expressions or variations of such expressions are “forward looking statements”. the monetary and interest policies of India. “estimate”. “project”. “seek to”. “will likely result”.FORWARD LOOKING STATEMENT Statements included in this Letter of Offer which contain words or phrases such as “will”. “intend”. The Company’s ability to successfully implement its strategies. technological changes. Actual results may differ materially from those suggested by the forward looking statements due to risks or uncertainties associated with the Company’s expectations with respect to. “plan”. . certain market risk disclosures are only estimates and could be materially different from what actually occurs in the future. By their nature. inflation. In accordance with SEBI requirements. of this Letter of Offer. Regulations and Taxes and changes in competition in the industry. its exposure to market risks. foreign exchange rates. “believe”. As a result. actual future gains or losses could materially differ from those that have been estimated. “goal”. but not limited to. deflation. “aim”. the Company will ensure that investors are informed of material developments until such time as the grant of listing and trading permission by the Stock Exchanges for the Equity Shares being issued. “anticipate”. unanticipated turbulence in interest rates. “objective”.

. it has not been Independently verified. industry sources and data generally available in the public domain.USE OF MARKET DATA Unless stated otherwise. Although we believe that industry data used in this Letter of Offer is reliable. Such publications generally state that the information contained therein has been obtained from sources believed to be reliable but that their accuracy and completeness are not guaranteed and their reliability cannot be assured. macroeconomic and industry data used throughout this Letter of Offer has been obtained from publications prepared by Government sources.

’’ the money earned by me it only and only my hard work’’. . • After made them interested. fulfill all requirements. I give them demo of the process our organization. and they impressed.Training Student’s work Profile• In Religare I have taken training in sales team as a RE (Relationalship My job profile is basically to open D-MAT a/c. • • through which he/she can trade easily. Description of Live Example• One presentation given by us in Escort co. we open their a/c in I punched the filled forms online. Give the demo to the old client. From the data we used to call the clients and make them over the Executive) • • phone. if anyone interested than fixed meeting with them and clarify their all problems. • • Cold calling in Delhi face all kind of persons and mixed behavior. After open the a/c of the client. HR head was happy but he did not want to such thing because he said.

Contribution to Organization• • • Open first a/c by trainee in Delhi. Open a/c from Lucknow Made presentation of Religare. .

ANNEXURE: Under the annexure we includeo Questionnaire o Survey form An illustration of the company policy ( All the documents which are received by the client at the time of policy) o .

KOTHARI. 11.4 WEB-SITE- www.2 MAGAZINEBUSINESS • MONEY & MARKET WATCH. in . ECONOMICS TIMES. BUSINESS - STANDARD. INDIA  TODAY.com . • 11.R. BUSINESS WORLD. HINDUSTAN  TIMES.3 NEWS PAPER- THE TIMES OF NEW INDIA. www.BIBLOGRAPHY: • 11. PHILIP KOTLER.google. • 11.religare.1 B00KS- C.

3 For how much period do you want to invest? (a) Short term (b) Long term Q.1 Are you interested in investing in share market? (a) Yes (b) No Q. basis? (a) Intraday (b) Delivery Q.5 In which product of a commodity do you want to invest? (a) Crude oil (c) Grain (b) Metals (d) others (b) Equity (d) Derivatives .QUESTIONNAIRE Q.4 you purchase shares on ……….2 In which product do you want to invest? (a) IPO (c) Mutual fund (e) Commodity Q.

6 In which type of commodity and derivatives do you want to invest? (a) High cost (c) No limitation of cost (b) Low cost Q.000 (c) 1-5 Lakh (b) 50.Q.8 In how much volume you often trade? (a) Less than 50.000-1 Lakh (d) More than 5 Lakh Q.7 In which trend do you like to invest? (a) Bullish trend (b) Bearish trend Q.9 You are interested in doing trading ………. (a) Online (c) Both (online and offline) Q.10 In market how much risk you can take? (a) Less than 25% (c) 50%-75% (b) 25%-50% (d) More than 75% (b) Offline .

NAME ADDRESS CONTACT NO. …………………………… ……………………………. ……………………………. .

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