CHAPTER-I

INTRODUCTION

1
INTRODUCTION
Change is the law of nature: Man used to be a wanderer or a regular person. He had to
travel from place to place in quest of food and drink, but today everything is at your
fingertips with the touch of a button. The expansion of information technology has had
an impact on virtually every aspect of life. Every piece of knowledge is now available at
our fingertips thanks to the internet. When the Internet has impacted all industries,
how come the most important factor in the economy, the stock market, has lagged? The
Internet, like all other industries, has made inroads into the stock market.
The definition of online trading is a fundamental knowledge of the procedures involved
in online trading. People have been able to accomplish almost anything since the advent
of the Internet. Online trading has become one of the most popular methods to trade as
far as stock trading has been as accessible to independent investors as possible thanks to
the Internet. Because everything is done online, both novices who have just taken a
single-day trading course and experienced traders may trade stocks, options, FX, and
futures all over the globe without having to deal with a broker and with significantly
cheaper fees.

Internet trading commissions are displayed on the websites of different providers and
are usually a set rate fee that varies based on the kind of securities exchanged and the
amount of the transaction. In principle, an Interest investor will always know how much
fee he will pay on each transaction. Before placing a trading order over the internet,
investors may take as much time as they like. Similarly, an internet investor does not
need to be concerned about his broker making illegal transactions.

The only person allowed to track in the account is the real investor since no particular
broker is earning a commission. Furthermore, since the investor has complete control
over the number of transactions that take place in the account, the internet investor will
never be a victim of excessive trading (where the broker benefits).

All of these advantages of online trading may lead an unsuspecting investor to think
that it is a means to get control of their finances while also saving money. This isn't
always the case, however. The benefits of Internet stock trading come with
disadvantages, and these negatives are substantial for the ordinary investor.
First and foremost, the typical investor is not a financial market specialist. Allowing the
autonomy of internet trading to sway you into thinking you're an experienced trader
may be dangerous. In addition, an internet investor sitting at home on a computer
foregoes competent investment advice and financial planning, two of the most important
services offered by conventional brokers.

Of course, there are extra dangers associated with doing transactions via the Internet,
particularly on a shared computer. Those who have been given an investor's account
number and password may freely trade that account, while the investor has limited
recourse against the brokerage company for the security violation.
STUDY REQUIREMENTS

The purpose of this research is to examine the online trading process via a case study of
ONLINE TRADING at IIFL LIMITED since the exchange has altered how it trades
and there is a need to evaluate the capital market's performance.

Just like successful trading, keeping solid records requires discipline. Unfortunately,
many commodities traders fail to keep track of their trading history, which may provide
a wealth of information that can help them increase their chances of success. The
majority of experienced traders, as well as those who regularly profit from commodity
trading, maintain meticulous records of their trading activities. The same cannot be
true for the vast majority of people who regularly lose money while trading
commodities.

THE STUDY'S OBJECTIVES

• To examine how trading changed when the exchange switched from an outcry to an
online trading system.

• Researching IIFL LIMITED's operations via different departments.

• To learn about IIFL LIMITED's online screen-based trading system and its
communication capabilities.

• To understand the proper network setup to connect IIFL LIMITED to

individuals/members.

• Researching the most recent and upcoming developments in the stock exchange
trading system.
THE STUDY'S OBJECTIVE

The market position of the business examined to broaden the scope of the analysis is
beneficial to investors, shareholders, and creditors in determining the company's rating.
Investors can evaluate the company's financial strength as well as the variables that
influence it. The study's scope is restricted. We may claim that 70% of the analysis is
beneficial to the investor, while the remaining 30% is dependent on market sentiment.
The subject was chosen to examine the variables that influence a company's future EPS
based on its fundamentals.
METHODOLOGY OF RESEARCH

COLLECTION OF INFORMATION

The process of gathering data is referred to as methodology. The information was

gathered from a variety of sources.

• The superintendents of the various departments gave the lectures.

• IIFL LIMITED's brochures and other materials.

• Information gathered from NSE publications, economic times, and other sources.

• Several books on investing, financial markets, and other relevant subjects.

TOOLS FOR RESEARCH

• SCANNERS FOR STOCK

• TOOLS FOR BACKTESTING

• MAPS OF HEAT

TRADING IN FOREX

• FINANCIAL UPDATES

• CALCULATIONS FOR POSITION SIZING

LIMITATIONS

• The research is limited to the history and current system of trade procedures in India,
and the Indiainfoline study is limited to a short discussion of all relevant topics. The
data is gathered from main and secondary sources, and as a result, it may differ
somewhat from what the research contains.

• The research is limited to online trading procedures. Due to a lack of time and the
need to keep the research within reasonable bounds, listing issues are not addressed.

• A significant stumbling block was a lack of time. Even forty-five days wasn't enough to
understand the theoretical ideas.

• A number of alternative methods that might have been investigated were not.

• A lack of understanding of the brokers.

• The distinction between theory and practice.

• Lack of necessary knowledge and technology

REVIEW OF LITERATURE
JOURNALS/ARTICLES
Article-1
Title: The Future Of The Stock Market Is Online Trading
Levana M, Jindal S, and Dhiman M are the authors.
International Journal of Economics and Management Science is a journal dedicated to the
study of economics and management science. Issue 7 of Volume 4 (2015)
Abstract: The avenue of interest is a convenient method for the public to conduct financial
transactions online and even faster than ever before online trading over the stock market for
the consumer indulges all platforms of banking, commerce, and money and as a result
discovers ease of them online trading falls under the percept of e-commerce, which has
become a greater tool of ease in the universe at this jif There are just a few businesses in
India that provide this kind of trading service. The stock market company has grown to a
level that has never been seen before, and it is now transmitting this success to all online
trading businesses across the globe. This study paper will focus on the future of stock
exchange trading via internet trading, as well as the security of online trading.
Article-2
Institutional Investments and the Indian Stock Market is the title of a paper that looks at
institutional investments and the Indian stock market.
K.S. Chalapati Rao, K.V.K. Ranganathan, and M.R. Murthy are the authors.
Journal of the Indian School of Political Economy, Vol. XI, No. 4, 1999, p.
Abstract: Developing nations have been encouraged to expand their stock markets in order to
enable foreign private capital flows in the form of portfolio investments. It was claimed that
these expenditures will benefit the stock markets both directly and indirectly by pressuring
local governments to enhance trading systems. While the volatility associated with portfolio
capital movements is widely recognised, there is also worry that the pressure on foreign
institutional investors to achieve capital gains may cause distortions in host nation markets. In
this context, the purpose of this paper is to evaluate the importance of foreign portfolio
investments in India in comparison to other major forms of investment, as well as to
investigate the relationship between foreign portfolio investments and stock market trends in
India over the last four years. Foreign investors may diversify their risk by investing in
portfolios, which allow them to participate in the benefits of emerging nations' quicker
development. For pension funds and individual investors in industrialised nations, investing
in developing economies is anticipated to provide a higher return on investment. Compared to
FDI, foreign portfolio equity investment has distinct features and consequences for
developing nations. FDI is anticipated to promote technology transfer, introduce new
management and marketing capabilities, and aid grow host nation markets and foreign
commerce, in addition to replenishing local savings [World Bank, 1997, p. 31]. Foreign
currency is supplemented by portfolio investments.
Article-3
International Journal of Emerging Markets is a publication dedicated to the study of emerging
markets throughout the world.
M. Gopi and T. Ramayah are the authors.
Internet Research, Vol. 14 Iss 3 Pp., "The Theory Of Planned Behavior And Internet
Purchasing," Internet Research, Vol. 14 Iss 3 Pp., "The Theory Of Planned Behavior And
Internet Purchasing," Internet Research, Vol. 14 Iss
Abstract: The goal of this study is to determine the variables that affect investors' intentions
to utilise online stock trading in India. Investors who are familiar with online stock trading in
Malayisa were polled using a standardised questionnaire. Only 144 of the 300 questionnaires
were reusable. The findings indicate that behavioural intention to utilise online stock trading
is directly related to attitude, subjective norm, and perceived behavioural control. Variation in
behavioural intention and actual use may be explained using the idea of planned behaviour. A
larger number of responders would allow for more variance in the findings. Other variables,
such as descriptive norm and perceived usefulness, should be utilised to boost the dependent
variable's explanatory power. A comparison of the same study's explanatory power with other
intention-based models might be a useful addition. Practical consequences - The findings of
this research will shed light on the variables that impact and influence an investor's decision
to engage in online stock trading. Furthermore, the findings of the research may be used as a
guideline for online stock brokerage firms in determining the elements and programmes that
need to be implemented in order to boost online stock trading among present and prospective
retail investors. There hasn't been much published on how to comprehend the desire to utilise
internet stock trading in a developing country.
Article-4
Impact of the Internet's Growth on Indian Online Stock Trading
Sarika Srivastava is the author.
Online trading, issue 1, volume 43, 1st January 2016. Journal: Online trading, issue 1, volume
43, 1st January 2016.
Abstract: The Internet is used by over two billion people. The technological revolution has
had a profound and permanent effect on the globe over the past two decades, and the Indian
stock market has been witness to these developments. The Indian capital market has gone a
long way from its official beginnings in the nineteenth century and may now be considered
mature, with a well-developed legal framework to back it up. The internet has made financial
goods and services more accessible to a wider range of consumers while also removing
regional boundaries.
Previously, investors were entirely reliant on their brokers, but now, they are increasingly
using the internet to purchase and sell stocks. E-trading has helped people save time, energy,
and money by allowing them to trade from anywhere at any time. The main goal of this study
paper is to look at the effect of the internet's development on stock market transactions. The
study also examines the present status of internet trading in India, as well as the breadth of
the Indian online trading industry.
 CHAPTER-II
INDUSTRY PROFILE
&
COMPANY PROFILE
INDUSTRY PROFILE

For Indian investors, the year belonged to stock markets, which shone brightly in terms of
producing wealth, while gold and silver's lustre dimmed for the second year in a row in 2020.
The stock market, as measured by the BSE Sensex, produced a positive return of
approximately 9% for investors in 2020, but gold prices dropped by about 3% and its weaker
relative silver plunged by almost 24%.

After outperforming the stock market for more than a decade, gold has now underperformed
equities for two years in a row, according to a study of their price fluctuations.

"Gold's underperformance was mostly attributable to price declines in dollar terms owing to
expected tapering in the coming months, as well as FII investment in Indian equities."

"This trend has been similarly true for global markets, as gold lost its lustre in 2020 and
markets rebounded with a vengeance," said Jayant Manglik, President Retail Distribution,
Religare Securities.

"Gold and stock prices have traditionally followed opposing patterns, and this year was no
exception, except that both reversed directions," he said.

According to an analyst, the improvement in the global economy has rekindled risk appetite
among individual investors, which has drained liquidity from safe havens like gold, resulting
in underperformance.

In 2012, the Sensex gained more over 25%, almost twice the increase in gold, which was
approximately 12.95%. Last year, silver appreciated at a rate of approximately 12.84 percent.

"Markets have showed tremendous resilience after July-August 2020 when RBI took some
significant steps to control the rapidly falling rupee," says Hiren Dhakan, Associate Fund
Manager, Bonanza Portfolio.
"When the US Federal Reserve indicated that it may reduce its stimulus programme if the
economy improves, most risky assets, including equities in Indian markets, had a knee-jerk
reaction." The Fed's assurances regarding planned and phased withdrawal of support, on the
other hand, proved to be a trigger for the markets once again."

"External variables influencing Indian stocks seem to be unfavourable in the first half of 2020
owing to the US dollar's continuing rise, but benign in the second half." Elections would have
been held by then as well. "A mix of local and foreign variables lead to India's markets
concluding with double-digit percentage growth in 2020," he added.

In 2020, the stock market segments mid-cap and small-cap indexes have dropped by
approximately 10% and 19%, respectively.

Until December 19, foreign institutional investors purchased shares worth over Rs 1.1 lakh
crore (almost USD 20 billion). They invested Rs 1.28 lakh crore in 2012. (USD 24.37
billion).

Evolution

The Indian stock market is one of Asia's oldest. Its origins may be traced back almost 200
years. The earliest records of security transactions in India are few and difficult to find. The
East India Company was the dominating institution at the time, and towards the end of the
eighteenth century, commerce in its loan securities was conducted.

Bombay was the centre of commerce for corporate stocks and shares in banks and cotton
presses by the year 2030. Despite the fact that the trade list was expanded in 2039, just a half-
dozen brokers were recognised by banks and retailers in 2040 and 2050.

The fast growth of commercial enterprise and brokerage company in the 2050s drew many
men into the sector, and by 2060, the number of brokers had risen to 60.
The American Civil War came out in 2060-61, and cotton supplies from the United States of
Europe were halted; therefore, India's 'Share Mania' began. The number of brokers has risen
to between 200 and 250. However, in 2065, after the conclusion of the American Civil War, a
terrible downturn started (for example, Bank of Bombay Share which had touched Rs 2850
could only be sold at Rs. 87).

The brokers who prospered after the American Civil War ended in 2074 established a spot on
a street (now aptly named Dalal Street) where they could congregate and conduct business.
They officially formed the "Native Share and Stock Brokers' Association" in Bombay in
2087. (which is alternatively known as " The Stock Exchange "). The Stock Exchange bought
a building on the same street in 2095 and opened in 2099. As a result, the Bombay Stock
Exchange was consolidated.

Other cities with active stock exchanges

When it comes to the cotton textile sector, Ahmadabad has overtaken Bombay. After 2080,
numerous mills sprung up in Ahmadabad and quickly expanded. The necessity for a Stock
Exchange in Ahmadabad became apparent as additional mills were launched, and in 2094,
the brokers established "The Ahmadabad Share and Stock Brokers' Association."

Jute was to Calcutta what the cotton textile industry was to Bombay and Ahmadabad.
Calcutta's other main industrial groupings were the tea and coal industries. Following the
Share Mania of 2061-65, a strong boom in jute stocks occurred in the 2070s, followed by a
boom in tea stocks in the 2080s and 2090s; then a coal boom between 1904 and 1908. The
Calcutta Stock Exchange Association was founded in June 1908 by a group of prominent
traders.

The Swadeshi Movement ushered in the industrial revolution in India at the turn of the
twentieth century, and the inauguration of the Tata Iron and Steel Company Limited in 1907
marked a turning point in the country's economic development.
Due to the First World War, Indian cotton and jute textiles, steel, sugar, paper, and wheat
factories, and all businesses in general, experienced unprecedented success.

In 1920, Madras had its first thrill of having a stock market operating in its midst, under the
name and style of "The Madras Stock Exchange," which had 100 members. However, when
the boom faded, the number of members dropped from 100 to three by 1923, and the
organisation ceased to exist.

In 1935, stock market activity expanded, particularly in South India, where the number of
textile mills increased rapidly and numerous plantation businesses were launched. Madras
Stock Exchange Association (Pvt) Limited, a stock exchange, was re-established in Madras in
1937. (The name of the company was changed to Madras Stock Exchange Limited in 1957.)

The Lahore Stock Exchange was established in 1934 and only existed for a short time. The
Punjab Stock Exchange Limited, which was founded in 1936, was amalgamated with it.

Indian Stock Exchanges: A Growth Umbrella

In 1939, the Second World War began. It produced a strong boom, followed by a collapse.
However, when India was fully deployed as a supply source in 1943, the situation altered
dramatically.

Because of the tight restrictions on cotton, bullion, seeds, and other commodities, traders
found the stock market to be the only place to do business. They were eager to join the trade,
and their ranks were soon expanded by a large number of others. Many new organisations
were formed for the purpose, and stock exchanges were established throughout the nation.

The Uttar Pradesh Stock Exchange Limited, Nagpur Stock Exchange Limited, and
Hyderabad Stock Exchange Limited were established in 1940, 1940, and 1944, respectively.

Two stock exchanges were established in Delhi, the Delhi Stock and Share Brokers'
Association Limited and the Delhi Stocks and Shares Exchange Limited, which were
subsequently merged into the Delhi Stock Exchange Association Limited in June 1947.
Scenario after Independence

During the downturn, most of the transactions were nearly completely obscured. The Lahore
Exchange was shuttered after the country's partition and subsequently relocated to Delhi,
where it amalgamated with the Delhi Stock Exchange.

Bangalore Stock Exchange Limited was established in 1957 and was granted official
recognition in 1963.

The majority of the other exchanges remained dormant until 1957, when they applied to the
government for registration under the Securities Contracts (Regulation) Act, 1956. The Act
acknowledged only the well-established exchanges of Bombay, Calcutta, Madras,
Ahmadabad, Delhi, Hyderabad, and Indore. Some members of the other Associations were
required to be accepted on a concessionary basis by authorised stock exchanges, but the
Government of India, acting on the concept of unitary control, refused to recognise all of
these fake stock exchanges, and they ceased to exist as a result.

In India, there were eight recognised stock exchanges in the early 1960s (mentioned above).
For almost two decades, the figure has stayed essentially constant. Many stock exchanges
were established in the 1980s, including the Cochin Stock Exchange (1980), Uttar Pradesh
Stock Exchange Association Limited (at Kanpur, 1982), and Pune Stock Exchange Limited
(1982), as well as the Ludhiana Stock Exchange Association Limited (1983), Gauhati Stock
Exchange Limited (1984), Kanara Stock Exchange Limited (at Mangalore, 1985), Magadh
Stock Exchange Association (at Patna, 1986), and Jaipur Stock Exchange Association (at
Jaipur, 1987). With the exception of the Over The Counter Exchange of India Limited
(OTCEI) and the National Stock Exchange of India Limited, India now has twenty-one
approved stock exchanges (NSEIL).

Since independence, the general growth trend of Indian stock markets is shown in the table
below. The Table clearly shows that India's stock markets have expanded in terms of not only
the number of exchanges, but also the number of listed businesses and their capital. The
Table clearly shows the extraordinary development that occurred after 1985, which was
attributable to government regulations that favoured the security market sector.
The Indian Stock Market's Trading Pattern
The trading of listed securities of public limited businesses is restricted on Indian stock
exchanges. They are split into two categories: specified securities (forward list) and non-
specified securities (backlist) (cash list). Dividend-paying, growth-oriented businesses with a
paid-up capital of at least Rs.50 million and a market capitalization of at least Rs.100 million
and more than 20,000 shareholders are often placed in the specified group, with the
remaining shares in the non-defined group.
On the Indian stock exchanges, there are two types of transactions: (a) spot delivery
transactions, which are "for delivery and payment within the time or on the date stipulated
when entering into the contract, which shall not be more than 20 days following the date of
the contract"; and (b) forward delivery transactions, which are "for delivery and payment
within the time or on the date stipulated when entering into the contract, which shall not be
more than 20 days following the date of the contract, which shall not be more than 20 days
following The latter is only allowed in the case of certain shares. Carryover costs (contango
or backwardation) are paid by the brokers who carry over the outstandings and are typically
decided by the current interest rates.
In contrast to the practice on the New York and London Stock Exchanges, where a member
can only act as a jobber or a broker, a member broker on an Indian stock exchange can act as
an agent, buying and selling securities for his clients on a commission basis, and also as a
trader or dealer as a principal, buying and selling securities on his account and risk.
The nature of trading in Indian stock exchanges is that of the age-old traditional method of
face-to-face trading, with open outcry bids and offers. However, in recent years, there has
been a significant push to modernize the Indian stock markets.
The conventional trading mechanism that existed in the Indian stock markets gave rise to
numerous functional inefficiencies, such as a lack of liquidity, lack of transparency,
excessively lengthy settlement times, and Benami transactions, which disproportionately
impacted small investors. The country's first ringless, scriptless, electronic stock exchange -
OTCEI - was established in 1992 by the country's premier financial institutions - Unit Trust
of India, Industrial Credit and Investment Corporation of India, Industrial Development Bank
of India, SBI Capital Markets, Industrial Finance Corporation of India, General Insurance
Corporation and its subsidiaries - to provide improved services to investors.
At OTCEI, trading takes place at several locations throughout the nation. The following are
the categories of securities traded on the OTCEI:
• Listed Securities - Shares and debentures of businesses listed on the OTC may be purchased
and sold at any OTC counter in the nation, and they should not be listed elsewhere.
• Initiated debentures - Any equity owning at least one lakh debentures of a specific scrip
may offer them for trading on the OTC. • Permitted Securities - Certain shares and
debentures listed on other exchanges, as well as units of mutual funds, are permitted to be
exchanged.
When compared to other conventional exchanges, OTC trading has a distinct characteristic.
That is, OTC does not trade certificates of listed securities or started debentures. The
custodian will keep the original certificate secure. However, at the counter, a counter receipt
is printed that replaces the share certificate and is used for all transactions.
The system works similarly to a conventional stock market in the case of authorized
securities. The only difference is that the delivery and payment processes will be completed
in less than 20 days.
The OTC Exchange network offers the following benefits over conventional exchanges:
• OTCEI's trading mechanism is broadly distributed throughout the nation, resulting in better
liquidity and a lower risk of middleman fees.
• Because of the screen-based scrip-less trading, pricing is more transparent and accurate.
• The investor knows the precise price at which he or she is dealing since the transaction's
actual price is shown on the computer screen; • The settlement and transfer procedure is
faster than on other exchanges.
• In the event of an OTC offering (new issue), the allotment procedure is finished in a month,
and trading begins a month after the issue closes, while on other exchanges, the process takes
longer.
As a result of the better trading mechanism and information transparency, investors are
increasingly becoming aware of the OTCEI's many benefits.
The National Stock Exchange (NSE) (NSE)
With the liberalization of the Indian economy, it became clear that bringing the Indian stock
market trading system up to international standards was a must. The National Stock
Exchange was established in 1992 by the Industrial Development Bank of India, the
Industrial Credit and Investment Corporation of India, the Industrial Finance Corporation of
India, all Insurance Corporations, selected commercial banks, and others, based on the
recommendations of the high-powered Pherwani Committee.
The NSE's trading may be divided into two categories:
The wholesale debt market and the capital market are the two types of markets.
Institutions and corporate bodies engage in high-value transactions in financial instruments
such as government securities, treasury bills, public sector unit bonds, commercial paper,
certificate of deposit, and so on. Wholesale debt market operations are similar to money
market operations in that they involve institutions and corporate bodies entering into high-
value transactions in financial instruments such as government securities, treasury bills,
public sector unit bonds, commercial paper, certificate of deposit, and so on.
In the NSE, there are two types of participants: (a) trading members and (b) participants.
Trading members are recognized members of the NSE who trade on behalf of themselves and
their customers. Trading members and big players, such as banks, who assume direct
settlement responsibilities, are among the participants.
The NSE trades using a fully automated screen-based trading system that follows the order-
driven market concept. Because they are connected through a communication network,
trading participants may remain in their workplaces and conduct trades. The screen will show
the pricing at which the buyer and seller are willing to deal. The transaction will be
completed when the prices match, and a confirmation slip will be issued at the trading
member's office.
Compared to conventional trading exchanges, the NSE offers several benefits. The following
are the details:
• Investors may trade at the same price from anywhere in the country since inter-market
operations are simplified, along with nationwide access to securities, thanks to the NSE's
integrated stock market trading network.
• With the use of a fully computerized network, delays in communication, late payments, and
other malpractices common in conventional trading mechanisms may be eliminated, resulting
in increased operational efficiency and informational transparency in stock market
operations.
Small investors and international investors will be uninterested in capital market operations
unless stock markets offer professionalized services. And, as one of the primary sources of
long-term financing for industrial projects, India cannot afford to jeopardize the capital
market's progress. In this respect, the NSE becomes more important in India's capital market
system.
Preamble
The words "development" and "growth" are often used interchangeably in economic
literature. There is, nevertheless, a distinction. Economic growth is defined as a prolonged
rise in per capita or total income, while economic development is defined as a sustained
structural change that includes all of the economic growth's multifaceted consequences. To
put it another way, growth is linked to free enterprise, while development requires some kind
of management and regulation of the factors that influence development. As a result,
economic development is both a process and a phenomenon.
Economic planning is important for a nation, particularly a developing country like India, to
guide the country toward economic development and prosperity.
COMPANY PROFILE
IIFL's Background

The IIFL (India Infoline) group, which includes India Infoline Ltd (NSE: INDIA INFO, BSE:

532636) and its subsidiaries, is a major participant in the Indian financial services industry.

IIFL provides advice and execution for a wide variety of financial services, including stocks

and derivatives, commodities, wealth management, asset management, insurance, fixed

deposits, loans, investment banking, and government bonds, and other modest savings

instruments. The Singapore Exchange (SGX) has granted IIFL in principle permission for

Securities Trading and Clearing memberships, opening the path for IIFL to become the first

Indian brokerage to join the SGX. IIFL was also admitted to the Colombo Stock Exchange,

making it the first foreign broker to do so in Sri Lanka. The website www.indiainfoline.com,

which is one of India's major online sites for personal finance, stock markets, economy, and

business, is owned and managed by IIFL.

In the AsiaMoney surveys, IIFL was named the "Best Broker, India" by FinanceAsia and the

"Most Improved Brokerage, India" by AsiaMoney. Dun & Bradstreet named India Infoline

the "Fastest Growing Equity Broking House - Large Firms." IIFL is a pioneer in the area of

equities research, with Forbes naming their research as "Best of the Web" and "...a must-read

for investors in Asia." Our research is not only accessible on the Internet, but also on

international wire services like Bloomberg, Thomson First Call, and Internet Securities,

where it is one of the most widely read Indian brokers. The easy acquisition and service of a

big client base are facilitated by a network of over 2,500 company sites distributed across

more than 500 cities and towns throughout India. With cutting-edge networking technology,

all of our offices are linked to the corporate headquarters in Mumbai. The group serves a

million clients via some channels, including online, over the phone, and in our locations.
Milestones & History

Directors' Board of Directors

Nirmal Jain,

Chairman and Chief Executive Officer

India Infoline Ltd was founded by Mr. Nirmal Jain, who also serves as its Chairman. He is a

Chartered Accountant and a rank-holder Cost Accountant with a PGDM (Post Graduate

Diploma in Management) from IIM (Indian Institute of Management) Ahmedabad. His

professional record is similarly impressive. He began his career in 1989 with Hindustan

Lever Limited, Unilever's Indian subsidiary. During his time at Hindustan Lever, he was in

charge of a range of tasks, including export and agro-commodity trading. He made a

significant contribution to the fast and lucrative development of Hindustan Lever's

commodities export business, which was the country's and the company's main focus at the

time.

In 1995, he established Probity Research and Services Pvt. Ltd. (later renamed India

Infoline), perhaps India's first independent equities research firm. In India, his work

established new norms for equity research. With the establishment of www.indiainfoline.com

in 1999, Mr. Jain was one of the first Indian entrepreneurs to grasp the internet potential.

India Infoline went from strength to strength under his guidance, surviving the dot-com

collapse and one of the worst stock market downturns in history.

Mr. A. K. Purwar is an Indian businessman.

India Infoline Ltd., Independent Director

Mr. Purwar is the Chairman of IndiaVenture Advisors Pvt. Ltd., the investment manager for

the Piramal Group's IndiaVenture Trust – Fund I, a healthcare and life sciences focused

private equity fund. In March 2008, he became Chairman of IL & FS Renewable Energy

Limited, and in November 2009, he became Chairman of India Infoline Investment Services

Ltd. He is an Independent Director in some prominent businesses in the telecom, steel,

textiles, power, auto components, renewable energy, engineering consulting, financial

services, and healthcare services industries. He is a member of the Advisory Board for the

Institute of Indian Economic Studies (IIES), Waseda University, Tokyo, Japan, and a member

of the Advisory Board for Mizuho Securities in Japan.

Mr. Purwar served as Chairman of State Bank of India, the country's largest bank, from

November 2002 to May 2006. During his illustrious career at the bank, he held several

critical positions, including Managing Director of State Bank of Patiala and Chief Executive

Officer of the Tokyo branch, covering almost the entire range of commercial banking

operations. During the years 2005–2006, Mr. Purwar also served as Chairman of the Indian

Bank Association. Mr. Purwar has won the Institute for Technology & Management's "CEO

of the Year" Award (2004), the Indian Banks' Association's "Outstanding Achiever of the

Year" Award (2004), and the Bombay Management Association's "Finance Man of the Year"

Award (2006).
IIFL's corporate governance philosophy

IIFL (India Infoline) is dedicated to putting the investor first by always trying to improve the

efficiency of operations, as well as the systems and procedures for the efficient use of

company resources to maximize value to stakeholders. The Group aspires to achieve not just

the highest legal and regulatory compliance requirements, but also effective management.

Committee of Auditors

Terms of Reference & Membership, Members' Names, and Chairman: Mr. Nilesh Vikamsey

(Chairman), Mr. Sat Pal Khattar, and Mr. Kranti Sinha, all of whom are independent

Directors, make up the Audit Committee. The Meeting is open to the Managing Director,

Executive Director, as well as the Statutory and Internal Auditors. The following are the

committee's terms of reference: - To investigate any issue that may be specified under Section

292A of the Companies Act, 1956. - Recommendation and removal of the External Auditor,

as well as the establishment of Audit Fees. - Going through the financial statements with

management before submitting them to the Board. - Overseeing the Company's financial

reporting process and financial information dissemination. - Examining the Internal Audit

Function's Appropriateness.

Committee on Compensation and Remuneration

Terms of Reference & Membership, Members' Names, and Chairman: Mr. Kranti Sinha

(Chairman), Mr. Nilesh Vikamsey, and Mr. Sat Pal Khattar, all independent Directors, make

up the Compensation / Remuneration Committee. The following are the committee's terms of
reference: - Determine an appropriate compensation plan for all Executive and Non-

Executive Directors, Senior Employees, and Officers, including salary, perquisites, bonuses,

stock options, pensions, and other benefits. - Determination of fixed component and

performance-linked incentives for all business workers, as well as performance criteria -

Director and employee service contracts, notice periods, and severance fees - Stock Option

information, including whether they will be granted at a discount and for how long they will

be accumulated and exercisable. - Hold talks with the HR department to develop appropriate

compensation policies.

Committee on Shared Transfers and Investor Complaints

Members' information, Compliance Officer's information, the number of complaints received,

and pending and pending transfers as of the financial year's conclusion. Mr. Kranti Sinha, a

Non-executive Independent Director, serves as Chairman of the committee. Mr. Nirmal Jain

and Mr. R Venkataraman are the committee's other members. The Company's Compliance

Officer is Ms. Sunil Lotke, the Company Secretary.

We acknowledge the significance of contributing to and maintaining social change to achieve

our goal of becoming the "most recognized business in the financial services sector." We

established the IIFL foundation with this goal in mind, and it will strive to assist and improve

the disadvantaged sectors of society.

The IIFL Foundation focuses on specific areas of need, such as healthcare and education. The

foundation will screen and select institutions and developmental agencies that work in these
fields and will provide necessary assistance to improve the lives of the underprivileged and

assist them in reaching their full potential.

The IIFL Foundation's initiatives include the following:

Eye camp in Barsana

With the help of professional physicians and surgeons from the Bhaktivedanta Hospital in

Barsana near Mathura, the IIFL Foundation funded an eye and dental camp in February 2010.

While over 2,600 individuals had their eyes tested and over 800 were chosen for free eye

surgery, over 1,800 people had dental treatments such as extractions, scaling, and fillings.

Team IIFL has been a staunch supporter of this worthwhile cause and will continue to do so

in the future.

Medical camp at Pandharpur

The Pandharpur medical camp, conducted at the Bhaktivedanta Hospital in Pandharpur in

July 2010, was funded by the IIFL Foundation. Approximately 49,820 pilgrims who came to

Pandharpur for Ashadi Ekadashi received free medical care at four campsites. During the

camp, the pilgrims were treated for fevers, injuries, fractures, gastroenteritis, myalgia,

headaches, epilepsy, malaria, respiratory infections, and other illnesses.

Donation campaign for blood

Blood donation campaigns are held at IIFL's different sites throughout India regularly. These

camps have attracted around 800 workers.

 CHAPTER-III
DATA ANALYSIS
AND
INTERPRETATION
OUTCRY SYSTEM:
The broker is responsible for purchasing or selling the securities for which he has received
orders. The broker or his authorized agents must travel to the stock exchange for this. The
open outcry system is the name for this approach. While purchasing or selling stocks, the
brokers yell. The stock exchange floor is split into a variety of markets, sometimes known as
"post pits" or "wings," depending on the types of securities traded.
The broker makes an offer or bid price in the post pit or wing using the "open outcry"
technique. He quotes his buy or selling price, also known as offer or bid price, to make the
required deal. While the dealer to whom the price is quoted quotes his price when the broker's
quotation fits him, the broker may close the transaction. If he isn't happy with the quoted
price, he may go to a different dealer. When the sale is done, both the dealer and the broker
make a quick note of the details of the transaction. These notes are written on a pad with the
number of shares and the agreed-upon price.
TRADING BY HAND
Before the advent of internet trading, there was a trading process.
Officially, stock market trading takes place in the trading ring. Members and their authorized
helpers must wear a badge or carry with them an identification card issued by the exchange to
enter the trading ring, which is divided between defined and non-specified parts. They carry a
book or confirmation memoranda that have been properly approved by the exchange, as well
as a pen. The activities of the stock exchange on the floor are technical.
Non-members are not allowed to participate in the stock market. As a result, several steps
must be accomplished in the execution of a stock exchange transaction. The following are the
stages involved in this trading method:
Choice of the broker: Prospective investors who want to purchase shares or investors who
wish to sell shares and conduct business must only deal with member brokers. According to
the current rules, they may also select their bankers for this reason.
Ordering procedure:
The next step is to place an order with a broker to buy or sell stocks. Ordinarily, orders are
placed via telegraph, phone, mail, fax, or in person. It is usually placed over the phone to
prevent delays.
Order or contract fulfillment:
Orders are filled in the BSE's trading ring. This operates Monday through Friday from 11:30
a.m. to 2.30 p.m., with a special one-hour session on Saturday. To enter the trading ring,
members or authorized assistance must wear a badge provided by the exchange. When a
transaction is made, they carry a Book or conformation memos, which are legally approved
by the exchange; both the broker and the jobber make a note in their books. The contract
notes are written up and sent to the customer. A contract note is a formal agreement between
a broker and his customers for a transaction that has been completed.
Drawings and Bills: Along with the contract note, both sale and purchase bills are produced
and posted the same day or the following day. In a buy transaction, after the shares are given
to the client, the customer makes the payment for the purchases and pays the stamp fees for
transfer, a bill is generated that shows the entire cost of the purchase, including the broker's
additional costs included in the price. The procedure is now complete.

DEMATERLIZATION: Dematerialization is the process by which an investor's physical

certificates are transformed into an electronic number of securities and credited to the
investor's DP account. To dematerialize certificates, an investor must first establish an
account with a DP, then request the Dematerialization Request Form (DP) and submit it
together with the share certificates. Before the shares are turned over to the DP for the
investor must verify that the certificates are marked "Submitted for Dematerialization." Only
those certificates that are already registered in your name and are on the NSDL's list of
securities eligible for dematerialization may be dematerialized.
The majority of the market's active scrips, including all S&P CNX NIFTY and BSE SENSEX
scrips, have already joined NSDL. The number of people on this list is constantly growing.
The procedure is as follows: once the transfer is completed, the investor has the option to
dematerialize the shares. An investor who wishes to exercise this option submits a Demat
request to his DP along with the option letter received from the business. To minimize the
risk of loss in transit, the business or its R&T agent would confirm the Demat request upon
receipt from the DP.
There are no unique or certificate numbers for dematerialized shares. These securities are
fungible, which implies that 100 shares of one security are identical to 100 shares of another
security. Certificates for odd-lot shares may also be dematerialized. Dematerialization takes
approximately fifteen to thirty days on average. To reclaim dematerialized securities in
tangible form, submit a request to DP for Rematerialization. The process of turning electronic
shares into physical shares is known as rematerialization.
Demat has the following advantages: • It minimizes the danger of faulty deliveries, saving
money and time spent on follow-up for correction. Several brokerage companies have
reduced their brokerage to the tune of 0.5 percent as a result of this.
Why You save 0.5 percent on stamp duty when you transfer electronic shares. You save
money on courier and notarization fees.
• You may have your bonuses and rights issues deposited directly into your DA, avoiding the
possibility of loss in transportation.
• If you take out a loan against Demat shares, you may expect to pay less interest than if you
took out a loan against physical shares.
• Because there is no loss in transit, the costs of obtaining a duplicate copy in such situations
are minimized.
• The RBI has also lowered the minimum margin for loans against dematerialized assets from
50% to 25%, compared to 50% for loans against physical securities.
KARVY STOCK BROKING OFFERS TRADING AND SETTLEMENT
In India, the NSE was the first to offer internet trading. The Online trading system provided a
higher degree of transparency, and investors favored exchanges that offered Online trading
for the following reasons: • The simplicity of operation from both the members' and investors'
perspectives.
• An increase in investor confidence as a result of increased openness.
• Allows the exchange to keep a closer eye on the market.
• The best possible price in both purchasing and selling.
All of this resulted in ever-increasing volumes on the internet trading platforms.
INDIA'S TRADING PROCEDURE INFOLINE LIMITED is a company that specializes in
providing information to
On the National Stock Exchange (NSE), the Bombay Stock Exchange (BSE), and the Over-
The-Counter Exchange of India, Karvy Stock Broking buys and sells equity shares and
debentures (OTCEI).
From their registered stock exchanges, Karvy Stock Broking receives a computer and the
necessary software. These facilities are known as "Broker Work Stations." The servers at the
stock exchanges are linked to these computers via cable.
Through the computer, a member or broker in his office may transmit quotes, orders,
negotiations, transactions, in-house deals, auction orders, and so on. These orders will be
accepted by the Central Trading System (CTS) and sent for matching. If there is an issue in
the order, CTS will reject it and send an error notice to the member in question. All of these
procedures are pre-programmed. The primary goal of CTS is to keep an eye on the activities
of the stock exchanges.
The broker's order will be sent out for a match, and if the match is determined to be
appropriate, the transaction will be carried out. Otherwise, once the trading period has
expired, the order will be immediately deleted. The Good Till cancellation transactions is
carried over to the following day. The order will not be canceled if the match is not
discovered within the specified time frame.
SESSION OF TRADING
On all five days of the trading session, trading hours are 9:55 a.m. to 3:30 p.m. All stock
exchanges have a trading period from Monday through Friday. The Securities and Exchange
Board of India (SEBI) has mandated that all stock exchanges in India have the same trading
time.
STATION OF WORK FOR A BROKER:
The latest traded price, the day's starting price, the previous day's closing price, the highest
and lowest prices, the weighted average price, and the total transaction value will be
accessible constantly at the broker workstation as the BBO for each scrip.
The BWS will be able to provide further information upon request. These are the day's top
gainers and losers. Trader-by-trader net position, scrip-by-scrip net position, client-by-client
net position, top scrip by volume/value, market overview, and so on. Brokers are also given
information on the businesses in the areas of book closing, dividend declarations, board
meeting resolutions, information regarding liquidated companies, and company reports,
among other things.
ORDERS: You may place orders one at a time or in batches.
• The submitted order will be accepted by the CTS; but, if the order is found to be invalid for
any reason, it will be returned to the BWS with the appropriate error notice.
• It will be added to the local pending order book if it is accepted at the CTS.
• The order will then be brought up for matching; if it is a purchase order, the system will try
to locate a sell order that matches the buy order's requirements; if such a match is found, the
transaction will be completed. Each transaction includes two brokers and the order's
respective traders. Both of these traders are made aware of the transaction that is taking place
at their respective BWS.
• The transaction is entered into the local trade book at the BWS.
There are two kinds of orders sent by brokers:
• GFD (good for the day) • GTD (good till cancellation) (GTC)
This is also known as "market order" and is appropriate for the day. The order is regarded as
a market order if the member chooses the deal as good for the day. If the "best bid" and "best
order" match, the transaction is completed. If no match is discovered, the order is canceled
for the day after trading time. He needs to place a fresh order the next day.
For example, suppose a member wishes to buy 1000 Wipro information shares at $400 apiece
via a Good for Day order. If the right match is not discovered, the order is immediately
canceled, and a new quote must be requested the following day.

This order is transmitted until the final trading day of the settlement term unless it is
canceled. This is also known as a carry forward order, similar to a GFD; the broker must
choose the GTC option for the transaction. The order is executed if it finds a match during the
trade settlement period. The order is terminated on the final day of the settlement period if no
match is discovered. This order will not be carried over to the next settlement period.
For example, suppose a member places a buy order for 500 shares of SBI at $690 a share and
chooses GTC as the order type. If a match cannot be discovered on that day, it will be sent to
the following trade settlement period day.

SETTLEMENT OF TRANSACTIONS: Settlement is the clearing of transactions in the form

of shares and cash. Shares will be delivered to buyers through depository participants such as
Networth Stock Broking Ltd and others. Finally, the transaction is completed by providing
the share certificates and transfer documents. The transferor (or seller) signed the transfer
deed properly. It has the selling broker's stamp on it. The buyer then fills out the certificates
and the transfer deed's details. The following are some options for settlement.
Spot settlement: under this approach, securities are delivered and payments are made on the
same day as the contract is signed.
Rolling settlement: In this rolling settlement, trade takes place on a “T+2” basis, which
means that if Monday is a trading day, Wednesday is a paying day. If the securities are not
delivered, they will be auctioned.

PROCEDURAL DETAILS:
Delivery in: Members in pay-out positions send share certificates to the clearinghouse during
the settlement period, together with a delivery Chelan filled out with the details of the share
certificates, which include folio numbers, unique numbers, and other information.
Delivery out: The clearinghouse will deliver shares to the buyer of shares who made a pay-in
position.
Pay-in: The paying member must pay for the value of the shares during the trading settlement
period (T+2).
Payout: Members who are in a paying position will get the checks paid in the clearinghouse.
The exchange's settlement committee will resolve any complaints between members
involving non-delivery, non-payments, good and poor deliveries related to the settlement.
OPTION QUOTES AND TRANSACTIONS
Obtaining Option Quotes
1. Open the option quote screen by clicking the Option Chain tab.
2. In the Equity Symbol field, type the stock symbol.
3. From the By Strike menu, choose a strike price.
4. From the By Exp. Month drop-down menu, choose the month that has passed.
5. Choose the kind of option quotations you want to see: Calls, Puts, or All.
6. Press the Enter key. All of the option symbols and current Market prices linked with your
criteria will be shown on the screen.

7. How to Trade an Option

1. To access the option order input screen, click the Options button in the upper left corner.
You'll see the word OPTION in the top right-hand corner, indicating that you're in Option
mode.
1. Open the option quotation screen and obtain the options symbol by following the
procedures above.
2. Double-click the symbol for which you want to place an order in the Options Chain
quotation screen.
3. The option's real-time quotation will be shown on the option order input screen at the top.
4. From the drop-down option underneath SIDE, choose to Buy to Open, Sell to Open, Buy
to Close or Sell to Close.
5. In the # of Contracts box, enter the number of contracts.
6. Select Market or input a price limit and select Lim (Limit). Click GTC to place a Good
Until Cancelled order.
7. Click the Submit button.
8. Select 16 or 30 days for the GTC order if it is a GTC order. To send the order, click OK.
Click Cancel if you do not want to submit the order or if you want to make adjustments.

9. A popup will open asking you to confirm your order (as seen in the image). To submit the
order, click OK if all of the information is accurate. The order will not be submitted to market
if you click Cancel.
QUOTE FROM LEVEL I
Throughout market hours, the Level I real-time streaming quotation refreshes automatically
every five seconds.
Obtaining Quotes
1. In the field on the left-hand side, type a symbol. You may also pick a symbol you typed
earlier in the day by clicking the tiny arrow to the right.
2. To see real-time streaming quotations, press the Enter key on your keyboard or choose to
Get Quotes from the Select Action drop-down box.
a) In-Depth Quotes: In-depth quotes, intra-day charts, and the most recent news.
d) Charts: There are six kinds of charts: intraday, one month, three months, six months, one
year, and interactive.
f) SEC Filings: The company's disclosures to the Securities and Exchange Commission.
g) Profile: A description of the business as well as key financial data about its shares.
b) Historical: Any stock's open, high, low, and closing prices, as well as its change and
volume during the previous six years.
Bid: The current highest price at which someone is willing to purchase the stock.
Bid Size: The number of shares in the offer at the current Bid, expressed in hundreds.
Change: The difference between the stock's previous close price and the price of the last
transaction.
percent Change: The percentage difference between the stock's previous close price and the
price of the last transaction.
Close: The previous trading day's final transaction price.
High: The stock's highest transaction price for the current trading day.
Last: The stock's most recent transaction price during the current trading
day. Low: The stock's lowest transaction price during the current trading
day.
Open: The stock's opening price on the current trading day.
Tick: To the right of the emblem is a tick. The current Bid is either greater or lower than the
previous Bid.
The total number of shares of the company exchanged during the current trading day is
referred to as volume.
Close: The previous trading day's final transaction price.
High: The stock's highest transaction price for the current trading day.
Last: The stock's most recent transaction price during the current trading day.
Low: The stock's lowest transaction price during the current trading day.
Open: The stock's opening price on the current trading day.
Tick: To the right of the emblem is a tick. The current Bid is either greater or lower than the
previous Bid.
The tick will display an arrow heading up if the current bid is higher.
The tick will display an arrow going down if the current bid is lower.
The tick will display "UC" if the current bid is the same
(unchanged).
The total number of shares of the company exchanged during the current trading day is
referred to as volume.
SCREEN FOR ACCOUNTS
To see account information, click here.
1. To view your account details, go to the Accounts tab.
To Change Your Account Type
2. Open the Accounts page by clicking the Accounts tab.
3. Select the Change Account option.
4. Choose a new account number.

.
 Table 4.2
Company :WIPRO LTD. 507685 Period: 14-Dec-2019 to 11-Jan-2020

No.
Op No. of of Total
Date High Low Close WAP
En Shares Trad Turnover
es

14/12/19 566.00 572.00 560.25 567.30 564.20 55,110 2,225 3,10,92,838

16/12/19 567.00 568.00 556.75 558.60 561.27 1,02,963 3,028 5,77,89,542

19/12/19 553.00 559.16 553.00 555.00 555.65 1,86,065 2,843 10,33,86,489

19/12/19 555.00 558.00 554.05 556.00 555.91 2,68,792 3,746 14,94,23,670

20/12/19 553.20 557.20 550.90 554.40 555.05 69,722 2,760 3,86,99,368

21/12/19 553.00 558.65 549.00 556.05 554.22 63,307 2,394 3,50,86,056

22/12/19 556.00 556.40 552.55 555.65 554.96 38,711 1,220 2,14,83,241

23/12/19 558.70 559.20 553.85 555.80 556.05 30,011 1,389 1,66,87,719

24/12/19 555.80 559.90 554.50 555.95 556.98 31,397 1,196 1,74,87,561

28/12/19 556.00 562.75 556.00 560.55 560.59 39,342 1,520 2,20,54,895

29/12/19 558.50 567.90 558.50 563.55 564.46 42,145 1,803 2,37,89,164

30/12/19 564.10 567.75 556.00 558.20 561.13 27,503 914 1,54,32,846

31/12/19 558.25 563.50 557.25 559.80 559.68 40,928 1,082 2,29,06,594

1/01/20 558.00 558.75 554.55 556.40 556.03 48,595 1,236 2,70,20,477

4/01/20 560.00 560.00 555.40 557.95 556.99 2,68,278 4,459 14,94,29,139

5/01/20 561.00 564.00 554.50 557.00 556.90 72,198 1,466 4,01,90,478

6/01/20 557.00 559.70 553.80 555.25 556.50 73,067 1,357 4,06,61,880

7/01/20 553.00 557.40 547.50 549.80 552.20 3,02,121 4,530 19,68,31,275

8/01/20 552.00 558.00 550.00 556.00 554.46 2,19,378 3,048 11,99,73,220

11/01/20 555.00 555.00 535.00 537.80 541.03 46,855 2,041 2,53,50,144

All Prices in
 No. of Trades 1
2
3
4
5
6
7
8
9
10

INTERPRETATION: On open, the stock rose from 566.00 to 567.30, compared

to an EPS of 543.65. After then, the price dropped from 537.30 to 547.35. The
conclusion 548.61 was increased entirely. The volume of arrivals to the volume on
the same dates or days is raised. Because the value of WIPRO LTD has increased
by 6.68 percent this session.
TABLE 4.3
Company :TVS MOTOR COMPANY LTD. 532343
Period: 25-Dec-2019 to 08-Jan-2020

No. No.
Date Open High Low Close WAP of of Total Turnover
Shares Trades

25/12/19 272.00 278.75 271.00 275.05 276.07 1,24,161 3,028 3,42,73,816

27/12/19 277.60 286.00 273.95 285.05 281.03 4,00,078 4,801 11,24,33,020
28/12/19 287.00 287.00 280.70 281.75 283.41 1,34,034 3,009 3,79,86,209
29/12/19 283.60 288.80 281.00 287.30 286.01 1,32,611 3,564 3,79,27,524
30/12/19 285.45 287.65 284.35 286.10 286.04 81,378 1,681 2,32,77,299
31/12/19 287.00 291.40 287.00 289.05 289.50 86,797 2,055 2,51,27,694
02/01/20 289.05 291.90 287.25 288.05 289.59 1,01,620 1,590 2,94,28,345
03/01/20 289.75 293.50 288.85 290.10 290.96 66,091 1,306 1,92,29,847
04/01/20 291.50 291.70 284.20 285.00 286.73 74,765 1,589 2,14,37,612
05/01/20 284.20 288.00 283.00 285.50 284.94 4,14,399 2,399 11,80,78,564
06/01/20 286.90 295.95 285.95 293.30 291.34 1,46,229 3,637 4,26,01,948
07/01/20 293.90 294.45 289.60 290.20 292.01 88,432 1,947 2,58,22,951
08/01/20 290.90 292.85 288.35 289.65 290.87 60,694 1,393 1,76,53,890

No. of Trades 1
2
3
4
5
6
7
8
9
10
ANALYSIS: The open value has increased from 272.00 to 275.05. Then
compare to the greater EPS of 280.96. The price was then reduced from
273.50 to 274.00. The total amount raised is 281.57. After then, on the same
dates or days, the amount is raised. Because the EPS value of TVS
MOTOR COMPANY LTD. has risen by 3.47 percent in this session.
TABLE 4.4
Company :TATA CONSULTANCY SERVICES LTD. 532540

Period: 14-Dec-2019 to 11-Jan-2020

No. No.
Total
Date Open High Low Close WAP of of
Turnover
Shares Trades

14/12/19 2,344.90 2,384.45 2,335.00 2,377.45 2,361.24 1,34,951 7,148 31,86,51,648

16/12/19 2,380.00 2,384.90 2,365.70 2,375.20 2,375.13 26,963 3,529 6,40,40,496

19/12/19 2,397.95 2,414.55 2,385.70 2,407.10 2,398.55 1,26,420 5,219 30,32,24,798

19/12/19 2,420.00 2,445.75 2,395.20 2,440.35 2,420.19 68,562 3,711 19,57,96,160

20/12/19 2,437.55 2,437.55 2,403.16 2,419.45 2,413.80 1,60,064 5,991 38,63,61,910

21/12/19 2,410.00 2,448.00 2,407.45 2,440.95 2,430.33 36,528 3,203 8,87,75,195

22/12/19 2,441.05 2,441.05 2,400.50 2,405.95 2,414.49 34,966 2,613 8,44,25,092

23/12/19 2,411.35 2,435.00 2,410.00 2,420.40 2,423.09 24,203 2,054 5,85,97,543

24/12/19 2,420.00 2,435.95 2,403.80 2,433.35 2,426.01 19,196 1,702 4,65,69,745

28/12/19 2,422.00 2,462.90 2,422.00 2,458.50 2,441.84 2,07,432 4,667 50,65,19,419

29/12/19 2,460.00 2,464.50 2,445.00 2,451.95 2,452.66 24,100 1,978 5,91,09,087

30/12/19 2,452.00 2,457.00 2,413.00 2,420.40 2,434.40 27,404 2,297 6,67,12,285

31/12/19 2,420.00 2,448.00 2,409.00 2,439.20 2,429.41 31,481 2,740 7,64,80,169

1/01/20 2,432.10 2,436.35 2,412.40 2,419.25 2,421.14 32,209 2,835 7,79,34,148

4/01/20 2,419.10 2,419.10 2,369.05 2,375.50 2,380.91 1,31,249 8,610 31,24,92,536

5/01/20 2,383.00 2,386.35 2,343.55 2,350.35 2,352.20 73,477 5,036 19,28,32,894

6/01/20 2,365.00 2,384.50 2,352.20 2,381.20 2,374.34 45,125 3,023 10,71,42,219

7/01/20 2,375.00 2,379.70 2,359.85 2,370.05 2,366.70 66,343 3,203 16,70,14,208

11/01/20 2,380.00 2,409.00 2,372.95 2,397.25 2,394.56 34,627 2,867 8,29,19,345

 No. of Trades 1
2
3
4
5
6
7
8
9
10

INTERPRETATION: The open price has increased from 2344.90 to

2377.45, compared to the higher EPS value of 2352.20. Then the price
dropped from 2270.00 to 2282.45. The total amount raised is 2368.51. The
volume of arrivals to the volume on the same dates or days is raised.
Because the value of TATA CONSULTANCY SERVICES LTD has
increased by 11.27 percent this session.
TABLE 4.5
Company :TATA COMMUNICATIONS LTD. 500483

Period: 14-Dec-2019 to 12-Jan-2020

No. No.
Total
Date Open High Low Close WAP of of
Turnover
Shares Trades

14/12/19 395.20 410.00 395.20 403.75 400.76 45,486 1,476 1,82,29,103

16/12/19 404.00 407.45 400.25 406.10 403.68 26,554 861 1,07,19,403

19/12/19 407.30 412.50 406.10 409.25 409.37 63,412 1,339 2,59,58,978

19/12/19 410.95 419.95 408.20 420.65 414.28 52,885 1,677 2,19,09,207

20/12/19 420.00 423.00 413.55 419.65 420.62 45,656 1,309 1,91,12,494

21/12/19 412.00 424.50 412.00 421.35 420.58 31,563 1,097 1,32,74,775

22/12/19 420.80 424.45 419.00 420.70 421.19 21,192 512 89,25,822

23/12/19 424.00 428.50 422.95 426.90 426.01 22,525 671 95,95,919

24/12/19 429.75 436.95 426.65 435.45 431.99 21,401 806 92,44,946

28/12/19 434.00 441.00 431.75 434.50 435.90 20,869 720 82,24,969

29/12/19 435.60 436.90 430.20 433.55 433.56 19,067 835 82,66,619

30/12/19 433.00 437.40 432.50 435.20 435.16 14,542 603 63,27,905

31/12/19 442.80 442.80 427.40 434.55 433.12 25,212 1,191 1,09,19,936

1/01/20 432.90 438.16 432.90 435.05 433.83 1,31,839 730 5,71,95,201

4/01/20 434.00 448.20 425.40 429.75 440.57 2,47,866 2,041 10,92,02,767

5/01/20 431.40 442.00 429.00 438.80 434.90 26,653 1,101 1,16,91,284

6/01/20 444.40 462.75 439.05 441.50 451.99 1,52,325 4,747 6,88,48,825

7/01/20 435.00 436.00 423.00 426.25 428.38 54,958 1,671 2,35,43,089

 No. of Trades 1
2
3
4
5
6
7
8
9
10

ANALYSIS: The open value has risen from 395.20 to 403.75. Then
compare to EPS 431.76, which is a greater number. The price was then
reduced from 413.00 to 400.35. Overall, the conclusion has risen by 426.68.
After then, on the same dates or days, the amount is raised. Because the
EPS value of TATA COMMUNICATIONS LTD. has risen by 3.54 percent
in this session.
FINDINGS
• Compared to the higher value of EPS 543.65, the open value has increased from
566.00 to 567.30. After then, the price dropped from 537.30 to 547.35. The
conclusion 548.61 was increased entirely.
• The volume of comings to the volume is raised on the same dates or days. Because
the value of WIPRO LTD has increased by 6.68 percent this session.
• On the open market, the value has increased from 272.00 to 275.05. Then compare to
the greater EPS of 280.96. The price was then reduced from 273.50 to 274.00. The
total amount raised is 281.57.
• After then, on the same dates or days, the volume is raised. Because the EPS value of
TVS MOTOR COMPANY LTD. has risen by 3.47 percent in this session.
• The open value has increased from 2344.90 to 2377.45, compared to the higher EPS
value of 2352.20. Then the price dropped from 2270.00 to 2282.45. The total amount
raised is 2368.51.
• The volume of comings to the volume is raised on the same dates or days. Because
the value of TATA CONSULTANCY SERVICES LTD has increased by 11.27
percent this session. On the open market, the value has risen from 395.20 to 403.75.
Then compare to EPS 431.76, which is a greater number.
• After that, the price dropped from 413.00 to 400.35. Overall, the conclusion has risen
by 426.68. After then, on the same dates or days, the amount is raised. Because the
EPS value of TATA COMMUNICATIONS LTD. has risen by 3.54 percent this
session.
SUGGESTIONS

• There should be a ban on the sale of promoters' stock, as well as limitations and growth
without prior permission from financial institutions for declaring greater amounts/rates.
• The availability of derivative instruments like as index futures, index options, individual
stock futures, and individual stock options adds to the market's overall appeal to both
international and local investors.
• Although the volume of paper work is modest, maintaining data in the system is very
difficult, therefore frequent audits and data updates are attempted to minimise this.
•
Most DPs lack the required infrastructure to manage the large volume of transactions,
resulting in DP errors. By providing complete infrastructure information to each DO, this
issue may be avoided.
• Because the pool account does not know who the true owner of the share is, dividends are
sent to the broker instead of the owners; as a result, the broker may manipulate or defraud the
owner, causing the owner to lose his dividend; as a result, try to pay the dividend directly to
the owner.
As a result, reduce the number of waiting days by delivering issued shares to shareholders as
soon as possible.
CONCLUSION

The in-depth examination of capital market instruments at the Interconnected stock exchange
has been illuminating, emphasising the benefits of dematerialization.
And the settlement of shares, derivative markets, and capital instruments has benefited the
issuer, investor businesses, and the nation as a whole.
The depository systems have not only shortened the time between delivery and settlement of
securities, but they have also aided in the cause of giving greater liquidity to security holders,
necessitating the establishment of a depository paperless trading system.
Settlement became necessary and unavoidable as a result of the online trading system for the
smooth and efficient operation of the capital market.
This method has shown its value by allowing transactions to be completed in T+3 days
instead of the previous T+5 days.
Now there is a proposal to settle within T+1 days in the near future, which is an indicator of a
boon in the demat and capital market instruments system.
It has been a long time since derivative trading on Indian indices began.
Actively has struggled to get traction because to the low value and number of transactions.
The launch of derivative trading was welcomed by investors in the financial markets, but it
hasn't exactly created a wave. The development of India's derivative markets is hampered by
a number of reasons. The lack of clear rules on tax-related problems and the high cost of
transactions are the most notable of these difficulties.
 BIBLIOGRAPHY

BOOKS:
 V.K.Bhalla,"INVESTMENT MANAGEMENT",S.Chand &Company Pvt Ltd, 2008.
 Preethi Singh,"INVESTMENT MANAGEMENT" Himalaya Publishing Pvt Ltd,2006
 V.A.Avadhani "SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT"
Himalaya Publishing Pvt Ltd,2000
JOURNALS:
 International Journal of Economics&Management Science. Volume 4 Issue 7(2015)
 Online trading, issue: 1, volume 43 1st jan 2016.
 The Theory Of Planned Behavior And Internet Purchasing", Internet Research,Vol. 14
Iss 3 Pp.
 The Hindu Business Review December,11,1996,P.25
 Ensuring Investors Care Volume 4 Issue 7,1996
NEWSPAPERS:
 The Economics Times
 Deccan Chronicle
 The Hindu
WEBSITES:
 www.karvy.com
 www.bseindia.com
 www.sebi.com
 www.moneycontrol.com
 www.economictimes.com