1

INDEX
Sir No Topics Page No
Chapter 1 Introduction 3

Chapter 2 Review Of Literature 9

Chapter 3 An Overview On Share 13

Broking Firms

Chapter 4 An Overview On Angel 21

Broking Private Limited

Chapter 5 An Overview On Angel 31

Platforms & Tools And
Products & Services

Chapter 6 Data Analysis 48

Chapter 7 Suggestions And 65
Conclusions
Annexure
Bibliography

EXECUTIVE SUMMARY
 2

This study entitled “A study investors preference and satisfaction towards the
financial products and services provided by Angel Broking Private Limited” was
conducted for Angel Broking Private Limited situated at Goregaon (East) in Mumbai
which is a “Financial Services Company”. The primary objective the study is to find out
the investors preference and satisfaction towards the various financial products and
services. The study also aims to find out the awareness, factors influencing, charges
levied and satisfaction level of the investors.

Liberalization and deregulation of financial sector have opened multidimensional

growth opportunities for the financial service providers at the same time it has provided
more profitable investment opportunities to the investors to invest their money in more
diversified range of products. In this competitive environment it is very crucial to every
business firm to ensure satisfaction to its investors.

Availability of multifaceted information at faster and speedier rate with the help
of communication technologies such as Internet services, mobile applications, on line
trading etc. has changed the investors' investment behavior. At the same time improved
earning capacity and increased family income of Indians have increased their investment
capacity. So the financial service providers like broking agencies i.e. Angel Broking have
to develop new set of products, services and methods for their business developments.
This includes personalized consulting and problem solutions specific to individual
investors' investment and financial planning issues.

Descriptive research is being used in this research. The primary data is collected
from around 54 respondents using a Structured Questionnaire Method. The sampling
technique that was adopted for the study was Simple Random Sampling.

The collected data was analyzed using Summary or Descriptive Statistics and
Percentage Analysis. The study brought to the surface insights. More than 4/5 th of the
investors are satisfied with the range and qualities of products and services provided by
Angel Broking, but effort should be taken by Angel Broking to create better awareness
about all its products and services to all investors.
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CHAPTER 1- INTRODUCTION

ABOUT THE TOPIC

 4

The investor satisfaction is the relationship between the investors’ expectations

and the product’s perceived performance. If the product matches the expectations, the
investor is satisfied. If it exceeds, the investor is highly satisfied. An investor, if satisfied
is more likely to purchase product the next time and will say good things about the
product to others about its quality price and availability. The investor focused definition
and suggestion that a company that has achieved total quality, services should meet or
exceed investor expectations. Quality begins with investor needs and ends with investor
satisfaction.

This study entitled “A Study on Investor Preference and Satisfaction towards the
various Financial Products and Services provided by Angel Broking” was conducted for
Angel Stock Broking Limited, Goregaon. The primary objective of the study is to find the
preference and satisfaction of the investors towards various financial products and
services. The study also aims to find out the awareness, highest business area, factor
influencing, quality of services, charges levied, investors relation and facilities. The
primary data was collected from 54 respondents which includes students and investors
who has invested through Angel Broking Firm using a structured questionnaire method.
The secondary data were collected through company records and company’s websites.
The study also tells about the various products and services as well as new platforms and
tools of Angel Broking useful in detail.

The study is confined only to limited sources and as questionnaire method is

being used, there might be chances of biased information being provided by the
respondents. Measures are supposed to be taken for creating better awareness about the
various product and services provided by Angel Broking in newspapers or social
networking sites. Most respondents are expecting more services from Angel Broking. It
can be concluded that most of the investors are satisfied with the products and services
provided.
 5

STATEMENT OF PROBLEM

Technological enablement and rapid growth of Indian capital market since the
new economic policy of 1991 has given more importance to investors. Investor behavior
also tend to move into savings to investment, short-term trading of capital market
instruments. More number of brokers also entered into the capital market due to the
liberalized regulation in capital market. Brokers are providing number of products and
services under single umbrella to the investors based on their need. So, this study aims to
discover that how these products and services are perceived by the investors, how these
services are utilized and how satisfied are the investors with these products and services.

OBJECTIVES OF THE STUDY

1) To study the investors preferences and satisfaction towards various

financial products and services offered by Angel Broking Private Limited.
2) To find out the awareness of the investors about entire range of products
and services provided by the company.
3) To analyze the preference and satisfaction level of investors to the quality
of services provided, charges levied and the factors influencing choice of
products and services.
 6

SCOPE OF THE STUDY-

The study focuses on investor’s satisfaction towards the products and services
provided by Angel Broking. It includes the range of services offered, quality of the
services provided, investor relations, facilities at the office, charges levied for the
services, expectations about other services, problems faced by investor if any at Angel
Broking. It focuses in understanding the salient behavior patterns, beliefs and opinions of
investors. It helps in understanding the attitude changes of the investors/ towards the
services provided, their expectations about the service aspects, products/ services
expected etc.

Further scope of the study can be extended to studying the satisfaction of the
investors in detail as to each and every service provided, the specifics of each service
offered, investor expectations about the same etc. A comparative study of Angel
Broking’s services against the service range, quality offered by the competitors can also
be conducted.

RESEARCH METHODOLOGY

1) Research Design- It is design of the study connected with the techniques for
collection of the data and analysis of the data in a manner that aims to have
relevance to research purpose. Here Descriptive Research Design is used.

2) Collection of Data- In this study the data is collected through personal contacts
using a Structured Questionnaire Method which is original. The Secondary data
regarding company, retailer and product profiles and investor list for sampling
was collected from company records and internet.

3) Sampling Design- Convenient Sampling Method is being used for collecting the
data. The sample size of the present study is 54 samples. Sampling Unit consists
of students and investors for Angel Broking at Goregaon
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HYPOTHESIS

1) There is a no significance difference in the level of investors satisfaction

for the products and services provided to them
2) There is less awareness about the products and services of Angel Broking
Private Limited.

SIGNIFICANCE OF THE STUDY

The study was carried out to find the attitude of investors towards the various
products and services available to the clients of Angel Broking Private Limited. The
study also tries to determine the risk-return preferences of the investors while deciding
about investment.

The aim of the research was to find the level of satisfaction from the various
financial products and services provided to them and also the level of awareness about
range of Angel products.

LIMITATION OF THE STUDY

1) As the data was collected through questionnaire, there might be chances of biased
information being provided by the respondents.

2) Small sample size of the study could not have been able to decipher some
important dimension of the study due to time constraints.

3) The study is confined to only to students and the existing investors of Angel
Broking Private Limited.
 8

4) Area of the study was limited only to Mumbai city of Maharashtra.

CONCLUSION

The study on investors preference and satisfaction level about the financial
products and services provided by Angel Broking deals with the quality, awareness of the
investors towards the entire range of products and services, the factors influencing choice
of Angel Broking, the highly sought after services, other services expected, and drawback
faced etc. The charges levied by Angel Broking for the services provided, facilities at
Angel Brooking’s office, Investor relation aspects like friendly and warm attitude, query
handling, attitude of the investors about Angel Broking to others were also covered.

Based on this research study confers that some of the investors are aware about
the products and services being dealt by Angel Broking. Angel Broking are not
periodically updating about the various products and services to public other than its
clients. Angel Broker offers valuable research services to its clients. They must make use
of opportunities for extracting investment benefits. According to this research infers that
investors having positive perception towards the Angel Broking Firm and they invest
according to the condition of the market and products available and services provided to
them.

It can be concluded that most of the investors are satisfied with the services
offered by Angel Broking and more awareness are to be provided.
 9

CHAPTER 2- REVIEW OF LITERATURE

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1) Kauffman et al. (George, 2000)- This study was carried out in 2000
indicated that, due to the intensive essence of information, most traditional
form of stock trading market players will eventually move towards
leveraging IT in order to operate their businesses in an Internet-based
trading manner. This in turn brings about many potential benefits for the
users i.e. the investors, such as faster trading speeds, better information
transparency, and much lower operating costs.

2) Almossari (2001), Stafford (1996) and Zeithaml (1981) Zeithaml et al.

(1985) - This study stated that service quality is particularly essential in
the financial services context because providers tend to be viewed as
relatively undifferentiated, and hence it becomes a key to competitive
advantage In addition, financial services, like other services are intangible,
difficult to evaluate, and rest on experience and credence quality.

3) Fournier and Mick (1999) and Meuter et.al. (2000)- This study stated that
investor satisfaction is a measure of how products and services supplied
by a company can meet the investor's expectations. With better
understanding of investors' perceptions, companies can determine the
actions required to meet the investors' needs. They can identify their own
strengths and weaknesses, where they stand in comparison to their
competitors, chart out path future progress and improvement. Investor
satisfaction measurement helps to promote an increased focus on investor
outcomes and stimulate improvements in the work practices and processes
used within the company. Investor satisfaction is an important theoretical
as well as practical issue for the marketers and consumer researchers.
Investor satisfaction can be considered as the essence of success in today's
 11

highly competitive world of business. The importance that investors place

on service quality attributes is the driver of satisfaction.

4) Shanmnga Sundaram V (2011)- This study examined the impact of

behavioral dimensions of investors in Capital market and found that
investor decisions are influenced by psychological factors as well as
behavioral dimensions and this psychological effect is created by the fear
of losing money, sudden decline in stock indices, greed and lack of
confidence about their decision making capability.

5) Szyska Adam (2008)- This study analyzed how investors’ psychology

changes the vision of financial markets and discussed the consequences of
the new view of finance by capital market practitioners-investors,
corporate policy makers and concluded with some thoughts on the future
development of the capital market theory.

6) Nair Raja Gopala and Elsamma Joseph (1999)- This study revealed the
various risks experienced by investors in corporate securities and the
measures adopted for reducing risks. They opined that calculated risk
might reduce the intensity of loss of investing. As per their study, many
investors were holding shares of those companies that were non-existent.
They opined that investors may accept risks inherent in equity, but they
may not be willing to reconcile to the risk of fraud. Promoters should not
be allowed to loot the genuine investors by their fraudulent acts. The
above researches present a detailed picture about the various facets of
investment studies that have taken place in the past. In the present study,
the findings of many of these studies are validated and updated.
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7) Indian Streams Research Journal (June 2013) - Based on this research

study confers that most of the investors having awareness about the
products being dealt by the stock exchanges. Stock brokers are providing
periodical update, newsletters and personal contact with clients. Some of
the investors are ready to take high risk in the stock market. Investors
would like to generate current income as well as capital appreciation
through stock market. Broker share offers valuable research services to
their clients. They must make use of opportunities for extracting
investment benefits. According to this research infers that investors having
positive perception towards stock market and they invest according to the
condition of the market.

8) Intercontinental Journal of Financial Management (August 2014) - This

study concludes that investor are satisfied about the financial services
provided by Angel Broking. It deals with the quality, awareness of the
investors towards the entire range of services, the factors influencing
choice of Angel Broking, the highly sought after services, other services
expected, and drawback faced etc. It can be concluded that most of the
investors are satisfied with the services offered by Angel Broking.
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CHAPTER 3- AN OVERVIEW ON
SHARE BROKING FIRMS
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SHARE BROKING FIRMS

A brokerage firm, or simply brokerage, is a financial institution that

facilitates the buying and selling of financial securities between a buyer and a
seller. Brokerage firms serve a clientele of investors who trade public stocks and
other securities, usually through the firm's agent stockbrokers. 

A traditional, or "full service," brokerage firm usually undertakes more

than simply carrying out a stock or bond trade. The staff of this type of brokerage
firm is entrusted with the responsibility of researching the markets to provide
appropriate recommendations, and in doing so they direct the actions of pension
fund managers and portfolio managers alike. These firms also offer margin loans
for certain approved clients to purchase investments on credit, subject to agreed
terms and conditions. Traditional brokerage firms have also become a source of
up-to-date stock prices and quotes.

TYPES OF SHARE BROKERS

Share brokers are of various types, such as floor brokers, upstairs brokers,
discount brokers and value brokers:

1) Floor Brokers-These share brokers place and execute orders on behalf of their
clients who are no allowed to the trading area on the floor of exchange. A floor
broker is a middleman who acts as an agent for clients, indirectly giving them the
best access possible to the exchange floor. A floor broker’s clients typically
include institutions and wealthy people such as financial-service firms, pension
funds, mutual funds, high net worth individuals and traders.

2) Upstairs brokers- The trading of securities, such as stocks, that occurs within a
broker-dealer firm instead of at an exchange, such as a stock exchange, or
between two broker-dealers in the over-the-counter (OTC) market. In an upstairs
market transaction, the broker-dealer typically represents both parties (buyer and
seller).
 15

3) Discount brokers- These share brokers charge less commission then the full
service brokers but at the same time doesn’t give any investment advice to the
clients. They are an online broker in a firm that charges a relatively
small commission by having its clients perform trades via automated,
computerized trading systems rather than by having an actual stockbroker assist
with the trade.
4) Value brokers- These brokers can be beneficial to investors seeking to
minimize commission costs especially if an investor is interested in trading a
small amount of shares or low priced shares. These are types of discount brokers
who charge commission at percentage rate of the currency value of each
transaction. This is typically helpful for small traders who generally trade in small
quantities and generally invest in low-prices shares because the brokerage cost is
relatively less.

POINTERS FOR DECIDING ON CHOOSING BROKERS IN INDIA

With the increase in number of stock broker, people have a lot of option to choose
from, but still it is not easy to choose. You need to be sure of what is that you want. Some
pointers to keep in mind before deciding on the brokers are:-

 Full service or discount broker: The main difference among them is full service
broker would charge you brokerage as a percentage of your trade value (for ICICI
it lies between .5% – .9%). while discount broker are much cheaper charging you
based on the number of trade. Most of the discount brokers charges between Rs
15 to Rs 30 per trade irrespective of the trade volume. So if you are going to trade
multiple times a month, go for a discount broker rather than a full service one.
 Online trading vs Offline/Phone trading: Most of the brokers have started to
provide online trading services to their investors. Some of them also provide
trading on phone or even physically at their location. Decide what would be a
good fit for you. If you are comfortable trading online from your laptop/desktop,
you will find that most of the major brokers are providing that services.
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 How often do you trade: Whether you are a trader or investor? Investor is
someone who trades few times a year while trader will trade at least few times a
month. If you are an investor brokerage generally won’t make a big difference in
your returns while if you are a trader, brokerage can mean whether you end up
making a profit or loss. By that I mean that brokerage adds up for traders.
 Will you require advice to trade: Would you need financial adviser to trade or
would you be trading on your own? If you need adviser, remember to get some
historical data of how good the adviser is and would you be comfortable giving
him your money. Full service broker generally will have research desk which will
send you a lot of recommendations for trading in stocks. Do remember to check
there historical recommendations and if it matches your investment needs. Some
of the full service broker will even provide you with the service of Relationship
manager which will call you a couple of times a month and telling you about the
new investment ideas.
 Do you have access to internet: One more thing to keep in mind while looking at
the broker is whether or not it provides call-n-trade services. Because even if you
have a smartphone, there could be a chance that you are not able to access your
account due to slow internet speed. Then you should be able to call you broker for
closing the trade. Most of the broker provide call-n-trade service but, what is the
extra charge for using that service if any. Also some broker say that they provide
this service but when you try to call then, the number is always busy. Make sure
that you ask them, what is the normal wait time to get call-n-trade service.
 Internet savvy: Newer generation people are tech savvy and don’t mind to trade
completely only. If you are like then, discount brokers would be a good fit. But if
you are using local brokers, I would suggest that at least compare their brokerages
with some of the new discount brokers to see how much money you are losing by
way of higher brokerage.
 Trading platform provided: One more important thing to ask is what trading
platform is provided by your broker and is there any extra charge for accessing
that. Most of the broker will provide NEST trading platform free of cost but then
charge a monthly charge for access there charting platform or to get access to real
 17

time data from there platform. So it is a good idea to get a better understanding of
what is being provided by you broker to start with.

In the last couple of years, with the increase in internet penetration and coming of
smartphone in India, there are some of the major discount brokers also in the top 10 list.
They are not the largest but are giving full service brokers a run for their money and
increasing their market share every quarter. Times are changing and in next couple of
years more and more brokers would move from being a Full service broker to discount
brokers. And as far as safety of discount brokers are concerned, most of the brokers have
a robust risk management in place and follow stringent SEBI rules.

BEST DISCOUNT BROKERS IN INDIA

The best discount brokers in India are as follows:-

1) Zerodha: They are one of the largest and oldest Discount broker in India having
more than 50,000 clients. They have a very competitive and a simple brokerage
structure (Rs 20 per trade) and good investor service. The account opening
process is also very easy and most of the work can be completed online. The good
thing about these discount brokers is you may never have to visit their offices.
The forms can be filled online and the application can be shipped to them. This
type of discount brokers are new in India and providing tough competition to full
service brokers

2) RKSV: RKSV is a discount broker operating from Mumbai. They provide very

competitive rates of Rs 20 per trade irrespective of the size of the trade. The
provide NEST and ODIN platform for trading. They are coming up with new
 18

mobile based platform called up stock and the product look nice. Their account
opening process is also very easy and most of the work can be completed online.
3) Fyers: They are one of the newer discount Brokers and provide brokerage rate
of .1% for delivery and .01% for intraday. The thing to keep in mind with them is
the brokerage is capped at Rs 100 per trade. They provide one the best trading
platform which is built in house completely

BEST FULL SERVICE BROKERS IN INDIA

1) Angel Broking:-

Incorporated in 1987, Angel Broking has become one of the most respected
Stock-Broking and Wealth Management Companies in India. They have built up a huge
network of Branches and Franchises (More than 900 cities and 8500 Franchises) thereby
maintaining a great support system for investors who prefer human interactions while
trading. Alternatively you can use their Trading platforms for the device of your choice
be it the Web, Smartphones, Tablets and Desktops. They have more than 10 lakh clients
which trades with them. They are providing an account opening offer in which you can
open account for free. You can provide your details and you will receive a call with 30
mins. Major Financial News channels regularly feature their Analysts and seek their
Expert Opinion. They have a number of Trading platforms as per the medium of
transaction be it Online, Smart phones, Tablets and Desktops. The Angel Group is a
member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and the
two leading Commodity Exchanges in the country: NCDEX & MCX. They are also
registered as a Depository Participant with CDSL.

2) ICICI Direct:-

By far the biggest and best known full service stock broker in India. They have
good service and easy to use user interface. There brokerage varies from 0.55% to .20%
 19

depending on the value of trades you do with them. There biggest selling point is there
seamless integration with your ICICI bank account which makes transfer/withdrawal of
funds really easy and quick. They also offer special product like valid till cancel and even
T+90 trading in BSE segment.

3) Motilal Oswal:-

These are one of the oldest and reputed brokers operating in India. They are also
full service brokers providing gamut of financial service to the investor.  They are best
known for their advisory service provided by them. They have more than 8 lakh investor
trading with them.

4) Share Khan:-

  Incorporated in February 2000, Share khan is India’s 2nd largest stock broker as

per number of investors, providing brokerage services through its online trading website
Sharekhan.com and 1950 Share shops which includes branches & Franchises in more
than 575 cities across India. They are full service broker and provide various other
services like asset management etc. As of July 30th, BNP Paribas have purchased Share
Khan for Rs 2,200 crore. We don’t expect major changes due to the buyout.

5) HDFC Security:- 

They are one of the larger broking houses in India and with their bank branches,
they have one of the largest network which is only after ICICI. They have a vast network
of bank branch in even smaller town. Most of the investor who have a bank account end
up opening a trading / Demat account with them. They are good full service brokers
providing all major services like research desk, mutual fund investments and portfolio
management services.

6) Kotak Securities:-
 20

They are one more well know name in Financial services and with their bank
branches in big cities they are able to cater to clients in big cities. There online service is
decent but brokerage is not that competitive.

7) Reliance Money:- 

They came with a bang but lately have lost a lot of sheen from their name. There
have been lots of question about their business practices.

Apart from this, some other notable names in brokerage industry in India are
Karvy, Axis direct and SBI cap are also there.
 21

CHAPTER 4- AN OVERVIEW ON
ANGEL BROKING PRIVATE LIMITED

ABOUT THE COMPANY

Angel Broking limited is one of the leading and professionally managed stock
broking firm involved in quality service and research. Angel Broking Private Limited is a
corporate member of the Stock Exchange Mumbai.
 22

The membership of the company with the stock exchange Mumbai was originally
in in the name of Mukesh. R. Gandhi, which was eventually turned into corporate
membership in the name of Angel Broking Limited.

Angel Broking Private Limited is managed by Mr. Dinesh Thakkar and he is well
supported by Mr. Mukesh Gandhi, a fifteen years veteran in the market.

The group is well supported by a professional and qualified research team and
operations and back office team, which comprises of highly dedicated and qualified
individuals. Angel has an in-house state of art research department. Angel believes in
reaching out to the investor at the farthest and rather than by reaching out to them. The
company in its endeavor to give its client the best has opened several branches all over
Mumbai, which are essentially integrated with the head office.

Angel Broking limited is primarily into retail stock broking, with a investor base
of retail investors, which has been increasing at a compounded growth rate of 100%
every year. The company has a huge network sub-brokers in Mumbai and other places
outside Mumbai, registered with SEBI who act as a channel partners for the company.
The company has a total staff strength of around 150 employees who are spread
accordingly across the head office and all the branches.

Angel has empowered its physical presence throughout India through various
strategies which it had been adopting efficiently and effectively over period of time like
opening of the branches at various places, tie-ups with various agencies and sales agents.
Moreover Angel Broking limited has been tapping and including high net-worth and self-
employed individuals to its vast array of clients.

Angel has always strived in the direction of delivering ultimate client satisfaction
and developing stronger bonds with its investors and chose partners. Angel has a new
vision to introduce new and innovative products and services regularly. Moreover angel
has been one among the pioneer to introduce the latest technological innovations and
integrate it efficiently within its business.

Angel Broking limited tryst with excellence in investor’s relationship

management began in 1987. Today angel has emerged as one of the most respected stock
 23

broking and wealth management companies in India. With its unique retail-focused stock
trading business model.

The angel group is the member of Bombay stock exchange (BSE), National Stock
Exchanges in the country: NCDEX and MCX, angel is also registered as depository
participants with CDSL.

BOARD OF DIRECTORS

The Board of Directors consists of the following members:-

a) Mr. Dinesh Thakkar (MANAGING DIRECTOR) – The Angel Group of

Companies was brought to life by Mr. Dinesh Thakkar. He ventured into stock
trading with an intention to raise capital for his own independent enterprise.
However, he recognized the opportunity offered by the stock market to serve
individual investors. Thus, India’s first retail-focused stock-broking house was
established in 1987. Under his leadership, Angel became the first broking house
to embrace new technology for faster, more effective and affordable services to
retail investors. Mr. Thakkar is valued for his understanding of the economy and
the stock-market. The print and electronic media often seek his views on the
market trend as well as investment strategies.

b) Mr. Lalit Thakkar (DIRECTOR) – Mr. Lalit Thakkar is the motivating force
behind Angel’s highly acclaimed Research team. He’s been a part of the senior
management team since the Angel Group’s inception. His technical and
fundamental outlook has provided impetus to Angel’s Market Research team.
Research-based & personalized advisory services are Angel’s forte, and Mr. Lalit
Thakkar has undoubtedly been the brain behind it. When it comes to analyzing the
 24

market, Mr. Lalit Thakkar is truly a genius. His hands-on experience and
fundamental knowledge of the market can predict the market trend early. His
views on the market trend are often quoted in the print and electronic media
c) Mr. Vinay Agrawal (CHIEF EXECUTIVE OFFICER) – Mr. Agrawal brings with
him over 15 years of rich experience spanning across BFSI domain. A Chartered
Accountant by profession, he has meticulously developed his expertise in the
broking industry covering multiple facets such as finance & operations, business
development, product development and e-broking. With an intuitive
understanding of the financial markets and a strong business insight, Mr. Agrawal
has rapidly risen within the Angel Group. His ingenuity in developing successful
strategies, strong analytical ability, and dedication to the organization have helped
him to become the first CEO of the company.

KEY MANAGEMENT TEAM

The key management team includes the following:-

a) Mr. Gagan Singla (CHIEF MARKETING OFFICER) – Mr. Gagan Singla has
done his B.Tech (Computer Science) from IIT Delhi and MBA from IIM,
 25

Lucknow. Overall, Gagan has over 12 years of experience across analytics,

consulting and marketing. He has been instrumental in delivering analytics-driven
transformations in multiple industry sectors including banks, insurance, e-
commerce, AMCs and public sector across multiple geographies including US,
UK, Europe, Malaysia, India & Canada. In the last couple of Years.
b) Mr. Ketan Shah (ASSOCIATE DIRECTOR: IT & B2B BUSINESS) – Mr. Shah
has over 18 years of rich industry experience, and has been involved in various
aspects of Business Operations in the past. IT is a strategic function at Angel. And
Mr. Ketan Shah is involved in the designing of Angel’s IT policies and Strategies.
Mr. Shah leads all IT-related activities from planning and budgeting to
implementation and maintenance. With his strong business understanding and
process knowledge, Mr. Shah is also handling Business Development of B2B
Channel at Angel. He is responsible to formulate strategies for complete B2B
business operations and also takes care of developing new business proposition
for the vertical.
c) Mr. Naveen Mathur (ASSOCIATE DIRECTOR - ANGEL COMMODITIES &
CURRENCIES) – A CFA of 1997, Mr. Mathur holds a Post-Graduation degree in
Financial Management and Business Finance. He brings with him over 14 years
of experience in the financial markets. He has been involved in several
management activities, treasury operations, corporate and strategic planning and
research activities in Futures and Options markets in his past assignments. Mr.
Mathur is a regular speaker on all the prominent financial news channels.
d) Mr. Santanu Syam (CHIEF OPERATING OFFICER) – Mr. Syam brings with
him over 18 years of experience in the field of Transaction Banking, Wholesale
Banking, Treasury Banking, Consumer Banking and CBS. He started his career
with ANZ Grind lays Bank and he was also associated with Standard Chartered
Bank in India as Director Transactional Banking. Mr. Syam followed up his
Engineering degree with an MBA. He has also attended Banking & Technology
seminars organized by SCB Singapore, BSE India & Euro Finance.
e) Mr. Subhash Menon (CHIEF - HUMAN RESOURCE & LEARNING) – Mr.
Subhash Menon, Chief Human Resource & Learning. Mr. Menon has an
 26

extensive experience of 18 years in Strategic HR Planning, Talent Acquisition,

Training, Leadership Development, Change Management, Performance
Management, Compensation Program and Employee Engagement Initiatives. Mr.
Menon holds a Master’s degree in Human resource Development from Narsee
Monjee Institute of Management.
f) Mr. Vineet Agrawal (CHIEF FINANCIAL OFFICER) – Mr. Vineet Agrawal,
Chief Financial Officer. Overall, Vineet has over 19 years of extensive experience
across manufacturing, telecommunications and infrastructure solutions industries.
He has been a part of the Executive Leadership teams with the companies where
he has contributed in delivering excellence in the areas of Strategic Planning,
Corporate Finance, Taxation, Treasury, Forex, Corporate Secretarial regulatory &
compliance, Operations, Commercial and controlling functions across
geographies. Mr. Agrawal is an accredited Chartered Accountant, Cost &
Management Accountant and Company Secretary.

ANGEL VALUES

 VISION-

To provide best value for money to investors through innovative products,

trading/investment strategies, state-of-the-art technology and personalized
services.

 CRM POLICY- INVESTOR IS KING-

 27

A investor is the most important visitor on our premises. He is not dependent on

us, but we are dependent on him. He is not an interruption in our work. He is the
purpose of it. He is not an outsider in our business. He is a part of it. We are not
doing him a favor by serving him. He is doing us a favor by giving us an
opportunity to do so. - Mahatma Gandhi

 OUR MOTTO-

To have complete harmony between quality in process and continuous

improvement to deliver exceptional service that will delight our Investors and
Clients.

 BUSINESS PHILOSOPHY-

Angel broking follows ethical practices with transparency in all the dealings
keeping investors interest above our own. Angel Broking is always known to
deliver what is promised with effective cost management.

 QUALITY ASSURANCE POLICY-

We are committed to providing world-class products and services which exceed

the expectations of our investors, achieved by teamwork and continuous
improvement.

ANGEL’S JOURNEY OVER THE YEARS

 1997- December 1987- Angel Broking limited incorporated as a wealth

management, retail corporate broking firm
 28

 1998- November 1998- Angel Capital and Debt Market Limited incorporated as
member of NSE
 2002- March 2002- Angel Broking develops a web-enabled back office software
to maximize its operational efficiency and successfully conducts its first investor
seminar to increase investor awareness.
 2003- April 2003 – Angel Broking publishes its first research report
 2004- April 2004- Angel Broking expands its basket of services by establishing
the commodity broking division and launches Online Trading Platform
facilitating easy and hassle free trading for its investor
 2005- October 2005- Angel Broking wins the prestigious ‘Major Volume Driver’
award by BSE for 2004-2005
 2006- March 2006- Angel Broking an expansion drive crosses 100000 mark in
unique trading accounts
 2006- July-2006- Angel Broking launches Portfolio Management Service and
commences distribution of Mutual Funds and IPOs
 2006- October 2006- Angel Broking bags the coveted ‘Major Volume Driver’
award by BSE for 2005-2006
 2006- December 2006- Angel Broking expands its network by creating 2500
business associates.
 2007- March 2007- Angel Broking crosses the benchmark of 200000 unique
trading accunts
 2007- November 2007- Angel Broking wins the ‘Major Volume Driver’ award by
BSE for 2006-2007.
 2007- November 2007- Angel Broking augments its business with introduction of
insurance distribution in alliance with Birla Sun Life.
 2008- November 2008- Angel Broking wins the esteemed’ Major Volume Driver’
by BSE for 2007-2008
 2009- May 2009- Angel Broking wins two prestigious awards for ‘Broking House
with Largest Distribution Network’ and ‘Best Retail Broking House’ at Dun &
Bradstreet Equity Broking Awards
 29

 2011- March 2011- Awarded the ‘Best in Contribution Investor Education &
Category Enhancement of the year and the ‘Best Commodity Research of the
year’
 2011- October 2011- Angel Broking bagged the Dun & Bradstreet Equity
Broking Awards 2011 for ‘Best Retail Broking House’ and ‘Fastest Growing
Equity Broking House’ award
 2013- October 2013- Angel Broking was awarded the BSE-IPF D&B Equity
Broking Awards for ‘Best Retail Broking House 2013’
 2013- October 2013- Angel Broking was awarded the ‘Top Performer in Equity
Segment’ of the year 2013- BSE
 2014- October 2014- Angel Broking was awarded the ‘Top Three Client Traded
Members in Equity’- BSE
 2014- October 2014- Angel Broking was awarded the ‘Top Ten Performing
Members in New Client Enrollment’ –NSE
 2015- October 2015- Angel Broking was awarded the ‘Top Performer in Equity
Segment’ of the year –BSE
 2015- October 2015- Angel Broking was awarded the D&B Equity Broking
Awards for ‘Best Retail Broking House 2015’
 2016- March 2016- Angel Broking was awarded the ‘Top Performing Member in
Currency Futures’- NSE
 30

CHAPTER 5- AN OVERVIEW ON
ANGEL PLATFORMS & TOOLS AND
PRODUCTS & SERVICES
 31

PLATFORMS OF ANGEL BROKING

1) ANGEL BROKING APP

Enjoy simple, speedy & secure stock trading experience with this all new, smarter
mobile trading app.

Angel advantage-

1) Keep the market at your fingertips- view multiple index with real time prices,
streaming market watch, intraday charts day & news, get live updates about top
gainers or losers and create customized device watch list, these innovative feature
keep you updated about every market movement
2) Trade on the go- trade across all segments with utmost convenience. You can also
view trade reports, limits & holding using this app, at any time and from
anywhere.
3) Feature-rich reports facilities- access your ledger, contract note, P&L statement at
one click. Get all your fund’s snapshot and transfer funds and securities from a
single place. Make quick and easy fund transfer
 32

2) ANGEL BROKING TRADE

Manage your portfolio, trade efficiently, stay up-to-date on market movements

with reports and timely alerts, and more with this browser-based trading platform.

Angel advantage-

1) Track your portfolio- get automatic updates of all transaction, analyze your
portfolio, calculate realized and unrealized gain, maintain contract notes ledger
and much more
2) Trade online- get an integrated trading experience. Buy & sell stocks, trade in
commodities & currencies, invest in mutual fund from this single platform
3) Angel research and market info- get up-to-date market information, live news
from over 1.5 million sources, comprehensive research reports, model portfolio,
calculators and more.
4) Receive timely alerts and reminders- get instant notification through SMS, email
and application
5) Manage entire family’s account- add and manage the wealth of entire family with
a single login.
6) Screen stocks and charts- analyze stock like an expert with state-of-the-art stock
screener and interactive charts.

3) ANGEL SPEEDPRO

This is an application Trading Platform which advance charts: 30 days intraday

and 20 years historical data with 70 + studies for advance technical analysis and reference
while making a trade decision.
 33

Angel advantage-

1) Real time rate updates- keep the market on your finger-tips with live streaming
rates. Experience the power and speed of instant trade execution and reports.
2) My portfolio details- view scrip-wise buy price, day’s gain/loss and overall
profit/loss to view your holding portfolio at glance.
3) Apply online mutual fund- you can invest or redeem mutual fund anytime right
from here, with convenience and ease.
4) Integrated news flash and research reports- instant news notification on stock and
markets. One touch access to host of research reports for you to confer.
5) Easy installation and updates- this is as easy as it gets- experience one click
installation. The app also auto updates itself so that you can always trade smooth
and fast.
6) Open and update live market and watch in excel- you have the option to watch
and update live market data in excel to take trading decision based on prices and
other market data.

TOOLS OF ANGEL BROKING

1) PORTFOLIO MANAGER

Angel Portfolio is a one-stop solution to analyze and track your investments,

assets and borrowings online. Based on live price updates, Angel Portfolio depicts a true
picture of your portfolio.

Angel advantage-
 34

1. Track Equity, MF, Insurance, Commodities, Real Estate and Forex transactions.
2. Get consolidated view of investments
3. Monitor real-time changes in net value
4. Create Watch lists to track Stocks and MFs.
5. Track the exposure of your portfolio.
6. Benchmark your portfolio’s performance against Sensex.

2) FINANCIAL CALCULATORS

1) Fibonacci Calculator- Fibonacci Calculator is a powerful tool for technical

analysis. This calculator generates four basic Fibonacci retracement values where
the most important breaks and bounces may be performed.

2) Pivot Point Calculator- Pivot Point Calculator calculates levels that are likely to
cause price movement. Pivot point is the primary support/ resistance level at
which the main trend will be born. First-third level resistance and support points
serve as additional indicators of possible trend reversal or continuation.

3) EMI Calculator- Calculate the Equated Monthly Installment (EMI) and know how
much you need to pay every month by entering your Loan Amount, Number of
Months and Interest Rate. You can also find out the Total Interest that you will
pay towards the Loan Amount.

4) Derivatives - Futures Calculator- This tool is used to calculate the profit or loss of
a particular Futures transaction.

5) Derivatives - Option Calculator- This calculator helps you to identify if you will
make profit / incur loss for a particular Options (Put & Call) transaction.

6) Wealth Management Planner. This helps you to design a wealth management plan
that provides the best solution for your long term financial goals.
 35

PRODUCTS OF ANGEL BROKING

1) EQUITIES TRADING

Shares are one of the best long-term investments in the financial market place.
However, it can be a precarious proposition due to the risks involved in potential returns.
The level of risk involved varies but, if you want to make money, you can't cut out all the
risk. It’s best to take help of an experienced and trustworthy expert who will guide you
on when, where and how to invest. Angel Broking provides thorough guidance on the
stock market along with multiple trading solutions and value-added tools & services so
that you get the best returns out of your investments.

Angel advantage

1. Online equity trading

2. Quality research
3. Advisory support

4. Three different online products tailored for traders & investors

5. Customized single-screen Market Watch for multiple exchanges
6. Real-time rates
7. Flash news & intra-day calls
8. Intra-day & historical charts with technical tools
9. Online research
10. E-broking & back-office software training

2) DERIVATIVES

The derivative segment is a highly lucrative market that gives investors an

opportunity to earn superlative profits (or losses) by paying a nominal amount of margin.
Over past few years, Future & Options segment has emerged as a popular medium for
 36

trading in financial markets. Future contracts are available on Equities, Indices, Currency
and Commodities. Angel with its membership as Trading and Clearing Member of NSE
F&O Segment and BSE Derivatives Segment, provides you a gateway to the exciting
world of derivative market.

Angel advantage-

1) Pan India presence

2) Online and offline transaction facility
3) Schemes from all major fund houses
4) Latest MF news and fund manager views
5) Latest new fund offers(NFO)
6) Information and tools to help you select the right scheme
7) Dedicated investor help desk
8) 24/7 web enabled client back office

3) COMMODITIES TRADING

The Commodities Derivative market is the new emerging avenue for investors to
increase wealth. Commodities are also the next best option after stocks and bonds for
portfolio diversification. Based on the fundamentals of demand and supply, Commodities
form a separate asset class offering investors, arbitrageurs and speculators immense
potential to earn returns. Angel Broking harnesses the immense potential of the
Commodities market by providing you a simple and effective interface, thorough
research and knowledge.

Angel advantage

1) Online trading
2) Top quality research
3) Active advisory desk

4) 3 online products tailored for traders & investors

 37

5) Single-screen customized Market-Watch for MCX & NCDEX with BSE & NSE

6) Streaming quotes

4) CURRENCY AND FOREX TRADING

The global increase in trade and foreign investments has led to inter-connection of
many national economies. This and the resulting fluctuations in exchange rates, has
created a huge international market for Forex, opening up another exciting avenue for
trading. The Forex market offers unmatched potential for profitable trading in any market
condition or any stage of the business cycle.

Angel advantage-

1) Low Commission
2) No Middlemen
3) Standardized Lot Size
4) Transaction Costs as low as 0.07%
5) High Liquidity
6) Instant Transactions
7) Low Margin, High Leverage
8) Online Access
9) Interbank Market
10) Self- regulatory
11) No Insider Trading
12) Limited Regulation

5) LIFE INSURANCE
 38

Ensure your family’s well-being by securing their future with a life insurance
policy. No financial planning is complete without life insurance. Angel offers an array of
life insurance products like Term Plans, Endowment Plans, Money back Plans, Children
Life Insurance Plans and ULIP Plans to meet your individual insurance requirements.

Angel advantage-

1) Affordable premium with maximum life cover

2) Assistance at your doorstep
3) Tailor-made plan to suit financial needs
4) Help desk for all your queries
5) Hassle-free and transparent dealing.

6] MUTUAL FUND INVESTMENTS

Investing in a Mutual fund is an excellent way of diversifying risk as well as

portfolio. Angel presents its Mutual fund services that strive to meet all your mutual fund
investment needs. We have a wide spectrum of investment schemes from all top mutual
fund houses. Angel also provides recommendations based on in-depth research, mutual
fund performance and mutual fund ratings to help meet your investment goals.

Angel advantage-

1) Pan India presence

2) Online and offline transaction facility
3) Schemes from all major fund houses
4) Latest mutual fund news and fund manager viewpoint
5) Latest new fund offers
6) Information and tools to help you select the right scheme
7) Dedicated investor help desk
8) 24/7 web enabled client back office.
 39

SERVICES PROVIDED BY ANGEL BROKING

1) PORTFOLIO MANAGEMENT SERVICES (PMS)

Angel Broking offers professional Portfolio Management Services (PMS) to HNIs

who seek customized solutions to realize their investment goals. PMS is a customized
offering, providing a range of investment options best suited for you in the current market
scenario. Our Portfolio Managers are equipped to create an investment portfolio across
various investment avenues like Equities, Fixed Deposits, and Bonds etc. to meet your
unique needs.

Benefits of Portfolio Management Services

1) Diversification of portfolio for containing non-systematic risks in equity market

2) Active risk management

3) Active review and rebalancing

4) Expert management

5) Awarded the Best Retail Broking House and Broking House with the Largest
Distribution Network, by DNB (2009)

6) Solid risk management

7) Experienced and robust fund management team

8) Efficient and personalized client servicing

9) No entry load on investment

10) No lock-in period for investment

11) Flexibility to switch from one strategy to other (Charges applicable)

12) Additional purchase facility

13) Withdrawal facility for any amount above Rs. 25 lakhs

 40

Angel advantage

1) Investment in companies that have a strong competitive advantage over their

peers

2) Well laid-out investment philosophy

3) Pro-active management of funds

4) Dedicated Relationship Manager

5) Quarterly newsletter from fund management team

6) Committed parentage

7) Minimum Investment of Rs. 25 lakhs and multiples of Re. 1 thereafter

8) Flexibility in mode of payment- Cheque or stock transfer, or both

9) Unparalleled Service

10) Online access to your portfolio with personal Login ID and Password

11) Monthly fund performance and fund manager’s expert analysis on e-mails

12) Quarterly performance report statement

13) CA-certified profit & loss account and balance sheet of investments

14) Dedicated fund coordinators for fund-related queries

15) Centralized team of service coordinators for hassle-free service

16) Event-based interaction with fund management team

17) Servicing from large network of branches across India

2) DEMAT ACCOUNT

DEMAT Account came into existence in India in 1996, stocks and shares were
issued and traded in physical paper form. With the age of computers and Technology,
shares and securities are held electronically in a dematerialized form (DEMAT Account),
instead of the investor taking physical possession of certificates. It allows you to buy, sell
as well as transact conveniently without the need of any paperwork. Open your DEMAT
account by registering with a Stock Broker from Angel Broking. Nowadays, all trades are
 41

settled in dematerialized form. Although the market regulator, the Securities and
Exchange Board of India (SEBI), has allowed trades of up to 500 shares to be settled in
physical form, trading using a DEMAT account is widely accepted. Hence, you require to
have a DEMAT account for dealing in Stocks and Shares.

Benefits of DEMAT Account

1) Environment Friendly - Less paperwork since securities held in electronic form

2) Secure and convenient way to keep track of shares

3) Quick Settlement

4) Time-Saving

5) No Storage Risk – Unlike paper certificates dematerialized stocks and shares

can’t be stolen or damage or forged

6) All in one - Trade in Equity, gold ETFs and commodity futures

Angel advantage

1) Present in the industry since 1987

2) Technology enabled DEMAT & Trading Account.
3) Technical and fundamental research guidance

3) ANGEL BROKING DEPOSITORY SERVICES

With Angel Broking you’ll get dual benefits of trading and depository services
that are efficient, risk-free and prompt. Angel is registered as a Depository Participant
with CDSL. We are also a member of the Bombay Stock Exchange (BSE), National
Stock Exchange (NSE) and the two leading Commodity Exchanges in the country–
NCDEX & MCX.

Enjoy exclusive benefits by registering with us

1) No risk of loss, wrong transfer, mutilation or theft of share certificates

2) Hassle-free automated pay-in of your sell obligation

 42

3) Reduced paper work

4) Speedy settlement process resulting in increased liquidity of your securities

5) Instant disbursement of non-cash benefits like Bonus and Rights

6) Efficient pledge mechanism

7) Wide branch coverage

8) Personalized help service

9) No charges for extra transaction statement and holding statement

10) Combined monthly 'Bill-cum-Transaction-cum-Holding-cum-Ledger' statement

of your investments

11) Avail of the 'Basic Service Demat Account' scheme introduced by SEBI. For
details contact your branch

Angel advantage

1) Automated pay-in facility.

2) Information anytime, anywhere.
3) Quarterly DEMAT statements with valuation
4) Statements on demand
5) View DEMAT A/C statement online
6) Competitive transaction charges

4) INTRADAY TRADING TIPS

With Angel Broking’s Intraday Trading, you can buy and sell stocks on the same
day instead of waiting for delivery after 2 days. If you’re trading in stock markets, you
buy stocks and get the delivery in their DEMAT account after the settlement process is
over, which takes 2 days (T+2) from the day transaction takes place.

Intraday Trading Tips

1) Study the types of stocks of companies you want to invest in

 43

2) Buy shares of different companies from different sectors

3) Buy/Sell for intraday and square off the position as soon as desired profit is
achieved

4) Check the trend patiently using technical analysis and accordingly, go for fewer
transactions

5) Trade only in high liquidity stocks (preferably NSE 200 stocks)

6) Always use protective stop losses

7) Do not carry forward a loss making intraday trade

Angel advantage

1) Market update news even at night.

2) Efficient money management
3) Profit-making basis price fluctuations
4) Easy trading in liquid markets
5) Lower brokerage
6) Intraday traders can create short position in the cash segment if they have a
bearish view on the stock.

5) INVESTMENT MANAGEMENT ADVISORY

Even a seasoned investor knows that effective timing of markets is not possible.
Therefore, professional and expert advice is essential to generate superior returns from
the stock market. Supported by a highly specialized and dedicated research team, Angel
follows a client-centric approach to offer customized solutions. At Angel Broking, we
offer you investment advisory services with ternary objective of superior returns, risk
minimization and portfolio diversification. Investment management for clients are done
 44

through Angel Gold. It is a planning-based investment advisory service with a highly

disciplined approach to investment management. For regular clients Angel provides SMS
investment advisory services called ‘Market in your Pocket’ that includes daily stock
views, investment views, market news and technical calls.

Why you need Investment Management Advisory

1) Investment done without investment management may lead to below par returns
or even negative returns that may arise if a proper investment advisory is missing

2) With growth in global economy the money market has also seen tremendous
growth and opportunities for investment are much more than they were before

3) A comprehensive investment advisory studies the options available and makes the
best decision for you based on your risk appetite

4) Market experts analyze numbers in details to provide the most reliable investment
advisory services to the clients

Angel advantage-

1) One-to-One communication
2) Effective investment advice and research reports
3) Daily calls before market hours

6) NRI INVESTMENT SERVICES

Angel Broking understands the varied needs of the NRIs and values your
patronage. We offer a bouquet of products and services exclusively devised for the
unique needs of NRIs.

Angel advantage

1) NRI services desk for personalized assistance

2) Dedicated offline equity dealing desk
3) Online equity trading platforms
4) Depository services
 45

5) 24x7 back office

6) NRI investment advisory desk
7) PMS
8) IPO and mutual funds
9) Insurance and personal loan solutions
10) Banking support
11) Pan Card assistance

BROKERAGE

The brokerage in Angel Broking is decided based on the initial margin you provide to
open the account. The concept being the higher the initial margin deposited, higher would
be the trading done by the investor. You can generally negotiate a better brokerage rate
with them once you start trading. Depending on the volume of trade they should be able
to provide you a more competitive rate.

1) If Initial margin check is more then 25,000

Intraday (Buy & Sell): Rs. 0.04% per trade
Delivery (Buy & Sell): Rs. 0.40% per trade
F&O (Buy & Sell) : Rs. 0.04% per trade
2) If Initial margin check is more then 50,000
Intraday (Buy & Sell) : Rs. 0.03% per trade
Delivery (Buy & Sell): Rs. 0.30% per trade
F&O (Buy & Sell): Rs. 0.03% per trade
 46

3) If Initial margin check is more then 1,00,000 

Intraday (Buy & Sell) : Rs. 0.02% per trade
Delivery (Buy & Sell) : Rs. 0.20% per trade
F&O (Buy & Sell) : Rs. 0.02% per trade

CHAPTER 6- DATA ANALYSIS

47
 48

DATA SOURCE

1) Primary Data- Primary data for the study was collected through Self-Structured
Questionnaire comprising of 15 statements. Degree of investor satisfaction
measured with the help of Summary or Descriptive Statistics and Percentage
Analysis.
2) Secondary Data- Secondary data were collected through Secondary Data
Books, Internet Web Sites, Magazines, and Journals etc. Secondary data regarding
company, retailer and product profiles and investor list for sampling was collected
from Company Records.

ANALYSIS OF DATA

Analysis is the process of placing the data in an ordered form, combining them
with the existing information and extracting the meaning from them. In other words,
analysis is an answer to the question “what message is conveyed by each group of data”
which are otherwise raw facts and are unable to give a meaningful information. The raw
data become information only when they are analyzed and put in a meaningful form.

Tools used for analysis of data-

Percentage analysis- Percentage refers to a special kind of ratio. Percentages are

used to describe relationship.

Percentage = (No Of Investors / Total Number of Investors)*100

 49

INTERPRETATION OF DATA

Q1) What is your age?

Age No of respondents Percentage

Below 25 24 44.4
26-55 22 40.7
Above 55 8 14.8
Total 54 100

The above table shows the age-wise distribution of the respondents. 44.4% of the
respondents belong to age below 25 years, 40.7% of respondents belong to the age group
of 26-55 and 14.8% of the respondents belong to age above 55 years.

Q2) What is your employment status?

Status No of respondents Percentage

Student 23 42.6
Business 15 27.8
Professional 8 14.8
Salaried 6 11.1
Others 2 3.7
Total 54 100

The above table shows the distribution of the respondents based on the employment
status. Out of 54 respondents 42.6% are Students, 27.8% of respondents are
Businessmen, 14.8% of respondents are Professionals and 11.1 % of respondents are
Salaried persons.
 50

Q3) What is your annual income?

Annual Income No of respondents Percentage

Below 250000 25 46.3
250000-500000 14 25.9
500000-1000000 8 14.8
Above 1000000 7 13
Total 54 100

The above table shows the distribution of the respondents based on their annual income.
Out of 54 respondents 46.3% of the respondents earn an annual income below Rs.
250000, 25.9% in the range of 250000-500000, 14.8% in the range of 5000000-1000000
and 13% above Rs.1000000.
 51

Q4) Do you invest in stock market?

Response No of respondents Percentage

Yes 30 55.6
No 24 44.4
Total 54 100

The above table and pie chart tells about the number of respondents who invest in stock
market. Out of 54 responses more than half of the respondents invest in the stock market
and rest 44.4% do not invest in the stock market.
 52

Q5) If yes, which would be your preference from below?

Preferences No of respondents Percentage

Equity 32 59.2
Derivatives 15 27.7
Commodities 7 13.1
Total 54 100

The above table and bar graph tells the preferences of the respondents who invest in the
stock market. Out of 54 respondents, more than half of the respondents prefer to invest in
equity market, 27.7% prefer investing in derivative market and 13.1% prefer investing in
commodity market.

Q6) What is your investment experience?

 53

Experience No of respondents Percentage

Beginner 25 50
Moderately experienced 20 40
Knowledgeable 5 10
Experienced - -
Total 50 100

The above table shows the investment experience period of the respondents. Out of 54
respondents, half of the respondents are just beginner, 40% are moderately experienced
and 10% of the respondents are just knowledgeable investors.
 54

Q7) When you make decision to invest in stock market, which factor will you give
importance to?

Factors No of respondents Percentage

Risk Reduction 28 55.1
Investment 19 38.8
Speculation 2 4
Arbitrage 1 2.1
Increased Leverage - -
Total 50 100

The above table and bar graph tells about the factors which are given importance while
making decision when investing in the stock market. More than half of the respondents
give importance to risk reduction, 38.8% to investment, 4% to speculation and 2.1% to
arbitrage. No respondent gave importance to leverage.
 55

Q8) Have you heard about Angel Broking Private Limited?

Response No of respondents Percentage

Yes 37 68.5
No 17 31.5
Total 54 100

The above table and pie chart tells about how many respondents have heard about Angel
Broking Private Limited. Out of 54 respondents, more than half i.e. 68.5 % of them have
heard about the company. Rest 31.5 % have not heard about Angel Broking Private
Limited.
 56

Q9) Are you aware of all the products or services provided to you by Angel Broking
Private Limited?

Awareness No of respondents Percentage

Yes 30 55.6
No 24 44.4
Total 54 100

The above table and pie chart tells the extent of awareness about the financial products
and service provided by Angel Broking. Out of 54 respondents, 55.6% are aware about
the products and services provided whereas 44.4% are not aware about it.

Q10) If yes, which products of Angel Broking Private Limited do you prefer?
 57

Products No of respondents Percentage

Equites 30 60.4
Derivatives 6 11.45
Commodities 6 11.45
Currencies - -
Life Insurance 1 2.15
Mutual Fund 6 13.55
Total 49 100

The above table and bar graph tells the extent of products of Angel Broking which the
respondents prefer. 60.4% of the respondents prefer equity product, 13.55% of the
respondents prefer mutual fund product, 11.45% prefer derivative and commodity
products and 2.15% of the respondents prefer life insurance products. No respondents are
preferring currency products of Angel Broking.

Q11) How frequently do you use the following new platforms and tools of Angel Broking
Private Limited for fulfilling your purpose?
 58

Platforms \ Daily Weekly Monthly Occasionally

Tools
Angel Broking 12 6 3 31
App
Angel Broking 4 12 5 31
Trade
Angel Speed 6 6 8 32
Pro
Portfolio 3 5 10 34
Manager
Financial 4 5 11 32
Calculator
Market Watch 8 5 7 32
Total 37 39 44 192

The above table and bar graph tells about the frequency of respondents using the new
platforms and tools of Angel Broking for fulfilling their purpose. Most of the above
platforms and tools of Angel Broking are occasionally used.

Q12) How satisfied are you with the following services provided to you by Angel
Broking Private Limited?
 59

Services \ Highly Satisfied Satisfied Dissatisfied

Satisfactory level
Portfolio 1 36 17
Management
DEMAT Account 4 37 13
Depository Service 2 41 11
Intraday Trading 3 30 21
Calls
Investment 4 33 17
Advisory Service
Total 14 177 79

The above table and bar graph tells about the satisfactory level of the respondents from
the various services provided to them by Angel Broking Private Limited. Most of the
respondents are satisfied but not highly satisfied by the services provided to them by
Angel Broking.

Q13) How do you find company's interaction via email & telephone?

Satisfaction Level No of respondents Percentage

 60

Good 15 29.4
Fair 31 60.8
Poor 5 9.8
Total 51 100

The above table and pie chart tells the rating of the respondents on the company’s
interaction via email and telephone. Most of the respondents i.e. 60.8% rated this service
fair, 29.4% of the respondents rated it good and 9.8% of the respondents rated it poor.

Q14) What is your opinion on the brokerage and other service charges levied?

Opinion No of respondents Percentage

 61

High 10 19.6
Moderate 37 72.5
Low 4 7.8
Total 51 100

The above table and pie chart tells about the opinion given by the respondents on the
brokerage and other charges levied for Angel Broking services. Most of the respondents
i.e. 72.5% of them find it moderate, 19.6% of them find it high and 7.8% find it low.

Q15) Have you faced any problems while trading or by the products/services provided to
you?

Yes / No No of respondents Percentage

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Yes 13 25.5
No 38 74.5
Total 51 100

The above table tell about how many responses have faced problems while trading or
from the products and services provided to them by Angel Broking Limited. Most of the
respondents i.e. 74.5% have faced no problems while trading or from the products and
services provided whereas 25.4% have faced problems.

FINDINGS

Analysis of the survey conducted with 54 respondents reveals the following:

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1) 44.4% of the respondents belongs under the age of 25

2) 42.6% of the respondents’ employment status is student.
3) 46.3% of the respondents have an annual income below 250000.
4) 55.6% of the respondents invest in stock market.
5) 59.2% of the respondents are prefer investing in equity market
6) 50% of the respondents’ investment experience is beginner.
7) 55.1% of the respondents gives importance to risk reduction factor while
making a decision to invest in stock market.
8) 68.5% of the respondents know about Angel Broking Private Limited.
9) 55.6% of the respondents are aware of all the products and services
provided by Angel Broking.
10) 60.4% of the respondents use equity products of Angel Broking and no
one uses currency product
11) The frequency of using Angel Broking platforms and tools related to
trading are occasionally used.
12) Most of the respondents are satisfied but not highly satisfied with the
Angel Broking services provided to them.
13) 60.8% of the respondents find company’s interaction via email and
telephone fair.
14) 72.5% of the respondents are find brokerage and other service charged
levied moderate.
15) 74.5% of the respondents have faced no problem while trading or from the
products and services provided.
16) Overall respondents are satisfied with Angel Broking Private Limited.
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CHAPTER 7- SUGGESTIONS AND

CONCLUSIONS

SUGGESTIONS

Based on the findings arrived at, the following suggestions are given.
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1) Investing in stock market is a good way for making more money

but at the same time it is very risky too.
2) Even common man should be made to understand stocks as stocks
is not understood by everyone.
3) More of the people should invest in derivatives, commodities and
currencies market.
4) Measures should be taken to create better awareness about the
various products and services provided by Angel broking in
newspaper.
5) Most of the respondents are expecting more services from Angel
Broking, so they should concentrate to fulfill their expectation of
their investor.
6) Facilities at the office like waiting hall, seating arrangement for
on-line trading, and drinking water / washroom facility need to be
improved and
7) The problem faced regarding the technicalities like on-line trading,
speed of the services provided etc. need to be improved.
8) More improvement should be done in services like improvement
should be made in email and telephone interactions.

CONCLUSION
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The study on investor satisfaction about the financial products and

services provided by Angel Broking deals with the quality, awareness of
the investors towards the entire range of products and services, the factors
influencing choice of Angel Broking products, the highly sought after
services, other services expected, and drawback faced etc.
The charges levied by Angel Broking for the services provided,
facilities at Angel Broking’s office, Investor relation aspects like friendly
and warm attitude, query handling, attitude of the investors about
recommending Angel Broking to others were also covered. It can be
concluded that most of the investors are satisfied with the services offered
by Angel Broking and more awareness have to given to common man.
The study of Investor Satisfaction in Angel Broking has revealed
that Investor Satisfaction in broking agencies is highly influenced by
attributes of services and the way in which these services are delivered to
the investor's.
It was found in the study that investor's perceived significantly
differently many of the services provided by the broking agencies. The
suggestion given above will help in growing the demand for financial
services and products and broadening the investor base as well as retaining
the existing investors by adopting the services as per their need.

ANNEXURE
 67

 GOOGLE FORM QUESTIONNARE

 GOOGLE FORM SUMMARY
 MAGAZINE CUTTINGS
 NEWSPAPER CUTTING

PLEASE TURNOVER FOR THE ANNEXURE

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BIBLIOGRAPHY
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REFERENCE BOOKS

 Shukla Rajiv & Upadhyaya Ajit, “Determinants of Investors Satisfaction for

Stock Broking Services”, Pacific Business Review International Journal, 7 th
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 Purohit Kamat Neel, “Investors Perception and Attitude towards Indian Stock
Market”, Indian Streams Research Journal, 5th Edition- June 2013.
 Shetty Priya “Study on Investors Satisfaction towards the Financial Services and
Products provided by Angel Broking” Intercontinental Journal of Financial
Management- August 2014,
 R. Kalakota and F. Frei. “Frontiers of Online Financial Services”-1997
 V. Zeithaml, “How consumer evaluation processes differ between goods and
services”- 1981.
 Doshi Darshak Bandgar, 2-7, “Investment Analysis and Portfolio Management”,
Vipul Prakashan Publication.
 V. Rajarajan “Stages in Life Cycle and Investment Pattern”, The Indian Journal of
Commerce, 5th Edition April-September 1998
 Rubin S. David & Levin I. Richard, “Statistics for Management”, Pearsons
Publications, 7th Edition-2002.
 Kothari C.R., 122-138, “Research Methodology Methods and Techniques”
Vishwa Prakashan, 2nd Edition.
 Khan M.Y, 200-205 “Financial Services”, Tata McGraw-Hill Publishing
Company Limited, 3rd Edition-2005.

WEBSITES
 www.angelbroking.com
 www.researchscripts.org
 www.pbr.co.in