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PREFACE
As a Student of MBA IIIrd Sem (Finance), the survey on customer
satisfaction on Reinsurance Insurance to Insurers has been provide to me
by my department, under the guidance of Mr. Rajnish chourasiya.
It presents synoptic review the research methodology. Objective,
limitations and suggestions regarding the existing product. A field survey
was conducted with the help of questionnaire and personal interview in
Sagar City.
The main aim of this survey is to know about the level of customer
satisfaction regarding Reinsurance Insurance to Insurers in Sagar City. it
also includes product utility. People behavior, Satisfaction, imagination,
company policies and customer problems.
This Survey is made to answer the expose above motioned topies
through statistical representation, pie diagram and graphs.
ARCHNA RAI
MBA IIIRD SEM.
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ACKNOWLEDGEMENT
Preparing a project of this nature is an arduous task and I was
fortunate enough to get support from a large number o persons. I
wish to express my deep sense of gratitude to all those who
generously helped in successful completion of this report by sharing
their invaluable time and knowledge.
It is my proud and previledge to express my deep regards to
Respected HOD Dr. Anil Mishra , Head of Department, Miss Richa
Jain Department of Business Management , Dr. Hari Singh Gour
Central University Sagar for allowing me to undertake this project.
I feel extremely exhilarated to have completed this project
under the able and inspiring guidance of , Miss Richa Jain he
rendered me all possible help me guidance while reviewing the
manuscript in finalizing the report.
I also extend my deep regards to my teachers , family
members , friends and all those whose encouragement has infused
courage in me to complete to work successfully.
ARCHANA RAI
MBA III RD SEM.
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DELCLARATION BY THE CANDIDATE
Date :
I declare that the project report titled " A PROJECT
REPORT ON ANGEL BROCKING " on Market Segmentation is
nay own work conducted under the supervision of MISS RICHA
JAIN , INFINITY MANAGEMENT & ENGINEERING COLLAGE
SAGAR To the best of my knowledge the report does not contain
any work , which has been submitted for the award of any degree ,
anywhere.
(ARCHNA RAI)MBA IIIRD SEM.
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CERTIFICATE
The project report titled "A PROJECT REPORT ON
ANGEL BROCKING" been prepared by MISS ARCHNA RAI
MBA IIIRD SEM. under the guidance and supervision of MISS
RICHA JAIN for the partial fulfillment of the Degree of B.B.A.
Signature of the Signature of the Signature of the
Supervisor Head of the
Department
Examiner
INDEX
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NO TITLE PG NO.
Declaration of the Candidate
Certificate from faculty
Acknowledgement
Preface
Abbreviation
1 Introdctuion
2 History
3 Vision & Mission
4 Objective of the Study
5 Research Methodology
6 Data Analysis & Interpetation
7 Swot Analysis
8 Limitation9 Recommentation
10 Conclusion
11 Bibliography
12 Annexure
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ABBREVIATION
Angel Broking's tryst with excellence in customer relations began in1987. Today, Angel has emerged as one of the most respected Stock-
Broking and Wealth Management Companies in India. With its unique
retail-focused stock trading business model, Angel is committed to
providing Real Value for Money to all its clients. The Angel Group is a
member of the Bombay Stock Exchange (BSE), National Stock
Exchange (NSE) and the two leading Commodity Exchanges in thecountry: NCDEX & MCX. Angel is also registered as a Depository
Participant with CDSL.
Equity Trading
Commodities
Portfolio Management Services
Mutual Funds
Life Insurance
Personal Loans
IPO
Depository Services
Investment Advisory
Angel Broking Ltd.
Angel Commodities Broking Pvt. Ltd.
Angel Securities Ltd.
PREFACE
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Theories are being developed, designed and stated on the groundwork of their
practical implementation and usage. Work experiences seems to be the most
effective and indispensable factor for making an individual an adept. This is because
one cannot do without being exposed to varying circumstances and possible
consequences. Training not develops individuals skills and abilities but also provides
proficiency in work performance.
The researcher has done Project in ANGEL BROKING LTD.,. Which constitutes an
essential part of two years M.B.A. program at training period consists of 45 working
days. The researcher was provided the project study on the topic A PPROJECT
REPORT ON ANGEL BROCKING. It was really a great opportunity getting practical
insight of the market.
Initially I felt that classroom study was irrelevant and is useless in any concerns
working but gradually I realized that all the basic fundamental concepts studies are
linked in one or the other ways to the organization but how and what can done with
theoretical knowledge depended on the applicability of the individuals. Its just a
matter of modifying the theory, so as to apply it to given practical solution.
The successful completion of this project was a unique experience for me because
by visiting many places and interacting with various persons, I achieved a batter
knowledge about market.
I sincerely believe that there is no better place to learn the practical side of
management studies than the industry itself.
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INTRODUCTION
1. INTRODUCTION TO THEINDIAN CAPITAL MARKET
The Indian Capital Market is one of the oldest capital markets in Asia which
evolved around 200 years ago.
Chronology of the Indian capital markets
1830s: Trading of corporate shares and stocks in Bank and cotton Presses inBombay.1850s: Sharp increase in the capital market brokers owing to the rapiddevelopment of commercial enterprise.1860-61: Outbreak of the American Civil War and ' Share Mania ' in India.1894: Formation of the Ahmadabad Shares and Stock Brokers Association .1908: Formation of the Calcutta Stock Exchange Association.
The pattern of growth in the Indian capital markets in the post independence regime
can be analyzed from the following graphs.
From the above graph we find that the number of stock exchanges in India increasedat a crawling pace till 1980 but witnessed a sharp rise thereafter till 1995.
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The following diagram shows the trend in the no. of listed companies participating inthe Indian Capital Market . Here again we register a sharp rise after 1980. thenumber of stocks issued by the listed companies also show a similar trend.
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TRADING
INTRODUCTION
The trading on stock exchange in india used to take place through open outcry
without use of information technology for immediate matching or recording of trades.
This was time consuming and inefficient. This imposed limits on trading volumes and
efficiency. In order to provide efficiency, liquidity and transparency, NSE introduced a
nation wide online fully automated screen based trading system (SBTS) where a
member can punched into the computer quantities of securities and the prices at
which he likes to transact and the transaction is executed as soon as it finds a
matching sale or buy order from a counter party. SBTS electronically matches orders
on a strict price/time priority and hence cuts down on time, cost and risks of error, as
well as on fraud resulting in improved operational efficiency. It allows faster
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incorporation of price sensitive information into prevailing prices, thus increasing the
informational efficiency of markets. It enables market participants, irrespective of
their geographical locations, to trade with one another simultaneously, improving the
depth and liquidity of the market. It provides full anonymity by accepting orders, big
or small, from member without revealing their identity, thus providing equal across to
everybody. Its also provides a perfect audit trail, which helps to resolve disputes bay
logging in the trade execution process in entirely. This sucked liquidity from other
exchange and in the very first year of its operation, NSE became the leading stock
exchange in the country, impacting the fortunes of other exchange and forcing them
to adopted SBTS also. Today India can boast that almost 100% trading take place
through electronic order matching. Technology was used to carry the trading
platform from the trading hall of stock exchanges to premises of brokers. NSE
carried the trading platform further to the PCs at the residence of investors through
the internet and to handheld devices through WAP for convenience of mobile
investors. This made a huge difference in terms of equal to investors in a
geographically vast country like India.
OVERVIEW OF THE INDIAN SECURITIES MARKET
INTRODUCTIONS
Securities markets provides a channel for allocation of savings to those who have a
reductive need for them. As a result, the savers and investors are not constrained by
their individual abilities, but by the economys abilities invest and save respectively,
which inevitably enhance saving and investment in the economy.
Market segment
The securities market has to interdependent and inseparable segments; the primary
and the secondary market. The primary market provides to channel for creation of
new securities through issuance of financial instrument by public companies as well
as Government and government agencies and bodies whereas the secondary
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market helps the holders of these financial instruments to sale for exiting from the
investment. The price signals, which subsume all information about the issuer and
this business including associated risk, generated in the secondary market, help the
primary market in allocation of the funds. The primary market issuance is done either
through public issues or private placement. A public issue does not limit any entity in
investing while in private placement, the issuance is done to select people in terms
of companies Act, 1956, an issue becomes public if it results in allotment to more
than 50 persons. This means an issue resulting in allotment to less than 50 person is
private placement. There are two major types issuers who issue securities. The
corporate entities issue mainly debt and equity instrument (shares, debentures, etc.),
while the governments (central & state Government)issue debt securities (dated
securities, treasury bills). The secondary enables participant who hold securities
adjust their assessment of risk and return. They also sell securities for cash to meet
their liquidity needs. The exchanges do not provide facilities for spot trades in a strict
sense. Closest to spot market is the cash market in exchange where settlement
takes place after some time. Trades taking place over a trading cycle (one day under
rolling settlement) are settled together after a certain time all the 23 stock exchange
in the country provide facilities for trading of corporate securities. Trades executed
on NSE only are cleared and selected by a clearing corporation which provides
innovations and settlement guarantee. Nearly 100% the trades in capital segment
are settled through demat delivery. NSE also provides a formal trading platform for
trading of a wide range of debt securities including government securities in both
retail and wholesale mode. NSE also provides trading in derivatives of equities,
interest rate as well indices.
In derivatives market (F&O market segment of NSE), standardized contracts are
traded for future settlement. These futures can be on a basket of securities like an
index or an individual security. In case of options, securities are traded for
conditional future delivery. There are two types of options a put option permits the
owner to sell a security to the writer of options at a predetermined price while a call
option permits the owner to purchase a security from the writer of the option at a
predetermined price. These options can also be on individual stocks or baskets of
stocks like index. Two exchanges namely NSE and the stock exchange, Mumbai
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(BSE) provide trading of derivatives of securities. Today the participants have the
flexibility of choosing from a basket a products likes:
Equities
Bond issued by both government and companies
Futures on benchmark indices as well as stocks
Options on benchmark indices as well as stocks
Future on interest rate products like national 91 day T-bills, 10 year
national zero coupon bond and 6% national 10 year bond.
The past decade in many ways has been remarkable for securities market in India. It
has grown exponentially as measured in terms of amount raised from the market,
number of stock exchanges and other intermediaries, the number of listed stocks,
market capitalization, trading volumes and turnover on stock exchanges and investor
population. Along with this growth, the profiles of the investors, issuers andintermediaries have change significantly. The market has witnessed several
institutional changes resulting in drastic reduction in transaction costs and significant
improvement in efficiency, transparency, liquidity and safety. In a short span of time,
Indian derivatives market has got a place in list of top global exchanges. In signal
stock futures category, the futures industry association (FIA) placed NSE in second
position in the year 2000.
Reforms in the securities market , particularly the establishment and empowerment
of SEBI, market determined allocation of resources, screen based nation wide
trading, dematerialization and electronic transfer of security, rolling settlement and
ban on deferral products, sophisticated risk management and derivatives trading
have greatly improved the regularity framework and efficiency of trading and
settlement. Indian market now comparable to many developed markets in terms of a
number qualitative parameters.
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PRIMARY MARKET
A total of RS- 2,520,179 million were raised by the government and corporate sector
during 2002-03 as against Rs. 2,269,110 million during the preceding year,Government raised about two third of the total resources, with central government
along raising nearly Rs. 1,511,260 million.
Corporate Securities
Average annual capital capital mobilization from the primary market, which used to
be about Rs 70 crore in the 1960s and about Rs. 90 crore in the 1970s, increased
manifold during the 1980s, with the amount raised in 1990-91 being Rs. 4,312 crore.
It received a further boost during the 1990s with the capital raised by non
government public companies rising sharply to sharply to RS 26,417 crore in 1994-
95. The capital raised which used to be less than 1% of gross domestic saving
(GDS) in the 1970s increase to about 13% in 1992-93, in real terms, the capital
raised increased 4 times between 1990-91 and 1994-95. During 1994-95, the
amount raised through new issues of securities from the securities market accounted
for about four-fifth fo the disbursements by FIs. Issuers have shifted focus to other
avenues for raising resources like private placement.
There is a preference for raising resources in the primary through private placement
of debt instruments. Private placements accounted for about 93% of total resources
mobilized through domestic issues by the corporate sector during 2002-03. Rapid
dismantling of shackles on institutional investments and deregulation of the economy
are driving growth of this segment. There are several inherent advantages of relying
on private placement route for raising resources. While it is cost and time effectivemethod of raising funds and can be structured to meet the need of the
entrepreneurs, it does not require detailed compliance with formalities as required in
public or rights issue. However, to prevent public issues from being passed on as
private placement, the companies (Amendment) Act, 2001 considers offer of
securities to more than 50 persons as made to public.
Indian market is getting interested with the global market though in a limited way
though euro issues. Since 1992 when they were permitted access, Indian companies
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have raised about Rs 34,264 million through ADRs / GDRs. By the end march 2003,
502 FIIS were registered with SEBI. They had net cumulative investments over of
US $ 15.8 billion by the end of March 2003. There operations influence the market
as they do delivery-based business and their knowledge of market is considered
superior. The market is getting institutionalized as people prefer funds as their
investment vehicle, thanks to evolution of a regulatory framework for mutual fund, tax
concessions offered by government and preference of investors for passive
investing. The net collection by MFs picked up during this decade and increased to
Rs 199,530 million 1990-00.
This declined to Rs. 111,350 million during 2001-01 which may be attributed to
increase in rate of tax on income distributed by debt oriented mutual fund and
lackluster secondary market. The total collection of mutual funds for 2002-03 is been
Rs. 105,378 million. Starting with asset base of Rs. 250 million in 1964, the total
assets under management at the end of March 2003 was Rs. 794,640 million. The
number of households owning units of MFs exceeds the the number of household
sowing equity and debentures. At the end of financial year march 2003, according to
a SEBI press release 23 million unit holders had invested in units of MFs, while 16
million individual investors in equity and of debentures.
GOVERNMENT SECURITIES
The primary issues of the central Government have increase many-fold during the
decade of 1990s from Rs. 89,890 million in 1990-91 to Rs. 1,511,260 million in 2002-
03. The issues by state government increased by about twelve form Rs. 25,690million to Rs. 308,530 million during the same period The central Government
mobilized Rs 1,250,000 million through issued of dated securities and Rs. 261,260
million through issued of T-bills. After meeting repayment liabilities of Rs. 274,200
million for dated securities, and redemption of T-bills of 195,880 million net market
borrowing of central
Government amounted to Rs. 1,041,180 million for year 1000-03. The state
government collectively raised Rs. 305,830 million during 2002-03 as against Rs.
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187,070 million in the preceding year. The net borrowings of state government in
2002-03 amounted to Rs.290,640 million. Along with growth of the market, the
invester base has become very wide. In addition to banks and insurance companies,
corporate and individual investors are investing in government securities. With
dismantling of control regime, and gradual lowering of the SLR and CRR,
Government is borrowing at near market rates. The coupons across maturities went
down recently signifying lower interest rates. The weighted average cost of its
borrowing at one stage increased to 13.75% in 1995-96, which declined to 7.34% in
2002-03. The maturity Structure of government debt is also changing. In view of
bunching of redemption liabilities in the medium term, securities with higher
maturities were issued during 2002-03. About 64% of primary issues were raised
through securities with maturities above 5year and up to 10 years. As a result the
weighed average with maturities of dated securities increased to 13.83 years from
6.6 years in 1997-98.
SECONDARY MARKET
Corporate securities
Selected Indicators in the secondary market are presented in table 5.3. The number
of stock exchanges increased from 11 in 1990 to 23 now. All the exchanges are fully
computerized and offer 100% on-line trading. 9,413 companies were available for
trading on stock exchanges at the end of March 2000. The trading platform of the
stock exchanges was accessible to 9519 members from over 358 cities on the same
date.
The market capitalization grew ten fold between 1990-91 and 1999-00. It increased
by 221% during 1991-92 and by 107% during 1999-00. All india market capitalization
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is estimated at Rs. 6,319,212 million at the end of March 2003. The market
capitalization ratio, which indicates the size of the market, increased sharply to
57.4% in 1991-92 following spurt in shares prices. The ratio further increased to 85%
by march 2000. It however, declined to 55% at the end of March 2001 and top 29%
by end March 2003. The trading volumes on exchanges have been witnessing
growth during the 1990s. the average daily turnover grew from about Rs. 1500
million in 1990 to Rs. 120,000 million in 2000, peaking at over Rs. 200,000 million.
One-sided turnover on all stock exchanges exceeded Rs.10,000,000 million during
1998-99 Rs 20,000,000 million during 1999-00 and approached Rs. 30,000,000
million during 2000-01. However, the trading volume substantially depleted to Rs.
9,689,541 million in 2002-03. The turnover ratio, which reflects the volume of trading
in relation to the size of the market, has been increasing by leaps and bounds after
the advent of screen based trading system by the NSE. The turnover ratio for the
year 2002-03 increased to 375 but fell substantially due to bad market conditions to
119 during 2001-02 regaining its position accounted 153.3% in 2002-2003.
2. INTRODUCTION TO ANGEL
In a shot span of 22 years since inception, the Angel Group has emerged as one of
the top five retail stock broking houses in India, having membership of BSE, NSEand the two leading Commodity Exchanges in the country i.e. NCDEX & MCX. Angel
Broking is also registered as a Depository Participant with CDSL.
The group is promoted by Mr. Dinesh Thakkar, who started this business as a sub-
broker in 1987 with a team of 3. Today the angel group is managed by a team of
1937 direct employees and has a nation wide network comprising of 21 Regional
hubs, 124 branches and 6810 sub brokers & business associates. Angel is 100%
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focused on retail stock broking business unlike any other larger national broking
house. The group currently services more than 5.9 thousand retail clients.
Angel habitually generates value added features without the cost burden beingpassed on to the clients as they strongly believe that better understanding of clients
needs and wants is their top priority. Their e-broking facility is one such effort, which
gives the client a platform to access state of the art trading facility at the click of a
button.
Angel has always strived for delivering customer delight and developing strong long
term bonds with its clients as well as channel partners. Angel thrives on a vision to
introduce new and innovative products and services constantly. Moreover, Angel
has been among the pioneers to introduce the latest technological innovations and
integrate them efficiently within its business.
About the Angel
Angel Bookings tryst with excellence in customer relations began more than 20
years ago. Angel Group has emerged as one of the top 3 retail broking houses in
India and incorporated in 1987. Today, Angel has emerged as a premium Indian
stock-broking and wealth management house, with an absolute focus on retail
business and a commitment to provide "Real Value for Money" to all its clients.
It has memberships on BSE, NSE and the leading commodity exchanges in India
NCDEX & MCX. Angel is also registered as a depository participant with CDSL.
Angel Group Companies
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Angel Broking Ltd.Member on the BSE and Depository Participant
with CDSL
Angel Capital & Debt Market
Ltd.
Membership on the NSE Cash and Futures &
Options Segment
Angel Commodities Broking
Ltd.Member on the NCDEX & MCX
Angel Securities Ltd. Member on the BSE
Incorporated :1987
BSE Membership :1997
NSE membership :1998
Member of NCDEX and MCX
Depository Participants with CDSL
Angels presence-
Nation- wide network of 21 regional hubs
Presence 124 cities
6800 + sub brokers & business associates
5.9 lakh +clients
ANGELS LOGO
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ANGELS VISION
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ANGELS BUSINESS PHILOSOPHY
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OUR ORGANIZATIONAL STRUCTURE
Products of Angel Broking
1. Online Trading 8. Personal loans
2. Commodities 9. Quality assurance
3. DP Services
4. PMS (Portfolio Management Services)5. Insurance
6. IPO Advisory
7. Mutual Fund
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Online- Trading
Specially designed for the net savvy traders and investors who prefer
operating from their home or office through the internet. The investor can access
state of the art Technology with three different e-broking products and voila
trading on BSE, NSE, F & O, MCX and NCDEX.
ANGEL DIET:
Application based product for Traders.
Application based ideal for traders.
Multiple exchanges on single screen
Online fund transfer facility
User friendly & simple navigation
BSC, NSC, F&O, MCX & NCDEX
ANGEL ANYWHERE:
Application based product for Traders with Charts.
Application-based platform for day traders
Intra-day/historical charts with various indicators
Online fund transfer facility
BSC, NSC, Cash & Derivatives
ANGELTRADE:
Browser based product for Active Investors.
Browser based for investor
No installation required
Advantage of mobility
Trading as simple as internet surfing
BSC, NSC, F&O, MCX & NCDEX
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ANGEL INVESTOR
User-friendly browser for investors
Easy online trading platform
Works in proxy and firewall system set up
Integrated Back office: Access account information anytime,
anywhere
Streaming quotes
Refresh static rates when required
Multiple exchanges on single screen
Online fund transfer facility
Investment Advisory Services
To derive optimum returns from equity as an asset class requires professional
guidance and advice. Professional assistance will always be beneficial in wealth
creation. Investment decisions without expert advice would be like treating ailment
without the help of a doctor.
Expert Advice: Their expert investment advisors are based at various
branches across India to provide assistance in designing and monitoring
portfolios.
Timely Entry & Exit: Their advisors will regularly monitor customers
investments and guide customers to book timely profits. They will also guide
them in adopting switching techniques from one stock to another during various
market conditions.
De-Risking Portfolio:A diversified portfolio of stocks is always better
than concentration in a single stock. Based on their research, They diversify the
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portfolio in growth oriented sectors and stocks to minimize the risk and optimize
the returns.
Benefits at Angel
Three different online products tailored for traders & investors.
Single Screen customized market-watch for MCX / NCDEX with BSE / NSE.
Streaming Quotes and real time Rates. Intra-day trading calls.
Research on 25 Agro Commodities, Precious and Base Metals, Energy
products and Polymers.
An array of daily, weekly and special research reports.
Highly skilled analysts with professional industry experience.
Active relationship management desk.
Seminars, workshops and investment camps for investors
Depositary Participant Services
Angel Broking Ltd. is a DP services provider though CDSL. We offer depository
services to create a seamless transaction platform to execute trades through Angel
group of companies and settle these transactions through Angel Depository services.
Wide branch coverage
Personalized/attentive services of trained a dedicated staff
Centralized billing & accounting
Acceptance & execution of instruction on fax
Daily statement of transaction & holdings statement on e-mail
No charges for extra transaction statement & holdings statement
Portfolio Management Services
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Successful investing in Capital Markets demands ever more time and expertise.
Investment Management is an art and a science in itself. Portfolio Management
Services (PMS) is one such service that is fast gaining eminence as an investment
avenue of choice for High Net worth Investors (HNI). PMS is a sophisticated
investment vehicle that offers a range of specialized investment strategies to
capitalize on opportunities in the market. The Portfolio Management Service
combined with competent fund management, dedicated research and technology,
ensures a rewarding experience for its clients.
Angel PMS brings with it years of experience, expertise, research and the backing of
India's leading stock broking house. At Angel, experienced portfolio management is
the difference. It will advise you on a suitable product based on factors such as your
investment horizon, return expectations and risk tolerance.
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MS SCHEMES @ ANGEL
Scheme 1: Angel OYSTER
Description:
The main objective of the scheme is wealth generation by delivering superior returns
over long term through investments and equity related instruments.
Investment Strategy:
To generate wealth on consistent basis rather than outperform by taking
higher risk.
Logic works well and thus will be given weight age along with financials
Early identification of stocks to ride through the entire investment cycle
Timing of investment is important to generate superior returns
Bottom up approach
Parameters Driving Investment Decision:
Blend of growth and value stocks
Investments in companies regardless of market capitalizations
Keen selection of stocks based on potential for value unlocking based
on key events
Focus on companies which display
Scalable business potential
Large market opportunity
Beneficiary of favorable economic cycle
Valuation at steep discount to asset value
Sectoral Composition:
May include under- researched companies
Portfolio could invested in liquid funds
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MUTUAL FUND DISTRIBUTION
AND ADVISORY :
To enable clients to diversify their investment in the right direction, Angel Broking
has added another product in its range with mutual funds :
Customized investment solutions based on specific individuals financial
goals aligned with clients risk appetite.
Access to in-depth research and proper selection from diversified funds
based on clients preferred criteria.
Customized reports at desired frequency.
Rating and Rankings of all Mutual Funds from in-house expert analysts.
Current and historical performance of different funds enabling
comparisons.
News and alerts for clients Mutual Fund Portfolio and performance
tracking with watch lists.
Online Mutual Funds applications (NFO or existing) / Online order status
tracking / Online updation of unit holdings at latest NAV / Online dividend pay
out and re-investment facility.
Single point customer query handling.
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DEPOSITORY PARTICIPANT SERVICE :
Angel Broking Ltd. is a DP Service provider through CDSL. They offer
Depository Services to create a seamless transaction platform to execute trades
through Angel Group of Companies and settle these transactions through Angel
Depository Services.
Hassle free automated pay-in of clients sell obligations by Angel
Broking Ltd. / Angel Capital & Debt Market Ltd.
Instant disbursement of non-cash benefit like bonus and rights
Wide Branch coverage
Personalized / Attentive services of trained and dedicated staff
Centralized billing and Accounting
Acceptance and Execution of instructions on fax
Zero upfront payment and lowest transaction charges
Daily statement of transactions and holding statements on e-mail
No charges for extra transaction statement and holding
statement
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Objective
The objective of the study was:-
1. To study investor perception and investment behavior of capital market
investors.
2. To identify the problems faced by the investors while on market through
brokers.
3. To study the investors satisfaction level for the various services provided by
the broker relationship.
4. To get the brief knowledge of trading system in securities.
5. To get the detail information about the company and to analysis the learning
in past six weeks at Angel Broking.
6. To know the absolute working in Angel Broking at it different segments like
commodity, equity, risk management and dealings.
7. To gain the knowledge about the market conditions.
8. To learn how to convince the client to buy a Demate at Angel Broking.
9. How to handle the various questions raised by them and how to deal with
them.
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10.Need for the MBA Degree
11.To learn how corporate world works, and what people things about it.
3. RESEARCH METHODOLOGY
RESEARCH DESIGN :
For any researcher the research methodology is the most important criteria to decide
before the actual research process starts. There are many methods for conducting
the research some of them are as under:
The design of a research is a plan or a model that helps researcher to conduct a
formal investigation and survey. It is an application of methods and procedures for
acquiring the information needs for getting a desire out come. It decides the sources
of data and methods for gathering data. A good design insures that the information
obtained is relevant to the research question and that it was collected by objectives.
Since, research design is simply the frame work or plan for a study. It is a blue print
that of a house devised by an architect. My approach to research is descriptive and
quite specific.
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Out of various research methods the research method, which was most suitable to
my research, was Exploratory Research because it provides me all the opportunitiesto cover the all the aspect that I require to conduct the research and get an
appropriate out come.
Types of Data Collection
There are two types of data used. They are primary and secondary data. Primary data is
defined as data that is collected from original sources for a specific purpose. Secondary data
is data collected from indirect sources. (Source: Research Methodology, By C. R. Kothari)
Primary Sources
These include the survey or questionnaire method as well as the personal interview
methods of data collection.
Secondary Sources
These include books, the internet, company brochures, product brochures, the companywebsite, competitors websites etc, newspaper articles etc.
4. SIGNIFICANCE OF RESEARCH
To company
In the growing competition & availability many options will be able to exist
which can cater the market efficiency & effectively, no about this only
supplement the quality services and many other factors.
With the help of this study the company will be able to identify the loose
points, which it should improve upon to deliver the best of service to investors.
It will help the company to find out the investment behavior for the investors.
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The undertaken was part for attainment of this objective for the company in
jaipur city.
To researcher
To bride practical orientation with the theoretical and conceptual it is pertinent
for one to enter in the corporate world. By this project the researcher not only
fulfilled his requirement of MBA degree programe but also learn a lot in the
field of marketing, the researcher has got an opportunity of implementing her
theoretical knowledge of management programe in his practical life.
To Third Party
The manual will serve the purpose of guidance for all those into may have
professional or academic interest in the project.
5. LIMITATIONS
1) The study was restricted to Jaipur City so it is difficult togeneralize
The interpretation made out of the findings.
2) This research is dependent on the information provided by the
respondents and sometimes the respondents are very reluctant
in providing right informantion and often provide it carelessly and
the result drawn out by only this information, so sometimes all
efforts might not find direction and results.
3) This conclusion and recommendations made are based on a
very less experience of researcher in this field.
4) Time was the biggest constraints as the study was limited for a
period of 45 days only as per the curriculum of researcher,
which means that any relevant market phenomenon before and
after this duration of time might have been skipped in the study.
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5) Many respondents did not reply and didnt gave accurate
answer.
DATA ANALYSIS AND INTERPRETATION
DEMOGRAPHIC FINDINGS
AGE GROUP
Age group(years) No. of respondentsBelow 20 020-35 3136-50 7851-65 59
Above 65 32
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Out of total 200 respondents, below 20 years of age were none, 39% of
the respondents falls in the age group of 36-50 years where as 29%
were in the age group of 51-65 years and next 16% falls in the group of
more than 65 years.
JOB PROFILE
Category No. of respondentsService 9
4
Business 80
Others 2
6
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Out of total respondents , most of respondents were from service class
and 40 % were during business and rest of the respondents include
retired person, other people, other professionals students etc.
ANNUAL INCOME (IN LACS)
Income group No. of RespondentsLess than 1 lac 5
01-5 lacs 9
3More than 5 lacs 5
7
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Most of the respondents belong to the income group of 1-5 lacs
followed by the respondents belong to income group of more than 5
lacs which is 28% of total respondents and rest of Respondents
belonging to the income group below 1 lac.
EDUCATIONAL BACKGROUND:-
Qualification No. of respondentsUnder graduate (U.G) 5
3Graduate 7
9Post graduate(PG) 5
5Others(O) 1
3
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Most of the respondents were graduate and 26% were post graduateand rest 6% belong to other category.
When the respondent were asked their preference of investment, is
cash market , derivatives market or both, the following respondents
were obtained .
Options No. of respondents
Only cash/capital market 7
6Only derivative market 2
1Both 10
3
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Out of 200 respondents amount 52% respondents their fund in
cash and derivative market, 38% investment is only cash market
and rest is derivative market.
When the respondents were asked about the time period for which
they are investing, the following responses were obtained.
Time period No. of respondentsLess than 1 year 25
1-5 year 97
More than 5 year 78
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Out of total 200 respondents 12% respondents were new investors, 48% were
investing for 1-5 year and rest were for more than 5 year.
Service Good Fair Poor Total
weightPhone service 99 100 117 316Brokerage 366 1344 11 511Conformation of
traders
159 46 124 329
Professional advice 84 120 112 316Relaxation in
advance margin
78 170 89 337
Payment/delivering
of securities
150 84 108 342
Staff behavior 93 248 45 386
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A remarkably high dissatisfaction was there among the investors for the brokerage
charged by their broker, most of them are dissatisfied with the staff and relation in
advance margin.
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SWOT ANALYSIS
SWOT analysis of Angel Broking
STRENGTH:
These are the following strengths of the Angel Broking.
1. Experienced player in the market
2.Broad product range:
3.Brand image:
4.Customer Orientation5. Efficient and Skilled Manpower
6. Investment Advice
WEAKNESS:
1. After sales services:2. software problems:
OPPORTUNITIES:
Untapped market:
Emerging new technology
THREATS:
1. Price war:2. substitute products:3. computer literacy in the prospect investors:
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CONCLUSIONS AND SUGGESTIONS
Conclusion based on findings
Business class investors more proportion of their income in shares
& securities as compared to service class investors.
Majority of investors trade according to expert the daily traders.
Majority of investors take the decision on investment (where/what
amount to invest)on their own idea and some rely on experts
opinion and brokers advice.
In cash segment, capital gain is the prior motive of the investors
followed by regular of the investors followed by regular income and
tax income and tax planning.
The satisfaction level regarding services by brokers of phone
service & professional advice is very low.
Professional advice available is not adequate regarding investment
in secondary market.
Most of the investors feel that online trading is more transparent
than the older form of trading (Ring trading).
Most of the people are aware of different charges charged by the
brokers (Demat charges, transaction charges, service charges,
service charges etc.).
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While selecting a broker, brokerage & frequent payments were
considered as main factors followed by personal relations.
Most of the investors are not satisfied with phone services
provided by the brokers,
The major problem faced by the investors is of brokers attitude
towards small investors is not same as with the big investors.
Another major problems faced by the investors is to decide
where/what amount is invested.
Suggestion
Professional advice should be made available in the city.
Brokers should transfer the deliveries/payments to the investors in
time.
Brokers should deal all the investors in same respect.
The phone service should be made prompt.
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ANNEXURE
SCHDULE
Name:
Address:
Phone No:
Age: ( ) 20 to 35 ( ) 36 to 50 ( ) 51 to 65 ( ) 36 to 50 ( ) more than65
Job profile: ( ) Govt. Servant ( ) Business ( ) Others
Annual Income (in lacs): ( ) less than 1 ( )1-5 lacs ( ) More than 5 lacs
Club Membership: ( ) Yes ( ) No
Qualification:
Under Graduate Graduate Post Graduate Others
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(1) Where do you invest your funds?
(a) Only Cash/Capital Market
(b) Only Derivative Market
(c) Both ( )
(2) How much share or your income do you invest?
(a) Up to 5% (b) 5-10%
(c) 10-25% (d) More than 25% ( )
(3) For long you have been dealing in derivatives market?
(a) Less than 1 year (b) 1-5 year
(c) More than 5 year ( )
(4) Are you aware of Derivatives like ?
(a) Options ( b) Future in shares
(c) Future in Index ( )
(5) Where do you invest in derivative market ?
(a) Options (Call Option, Put Option)
(b) Future in shares and Index
(c) Both ( )
(6) Whom do you Consult before taking decision about the investment ?
(a) On your own idea
(b) Experts Opinion
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(c) On Friends/Family members advice
(d) Brokers advice
(e) Other source ( )
(7) How often do you trade ?
(a) Daily (b) Weekly
(c)Monthly (d) According to Market ( )
(8) Whether the professional advice is available to you ?
(a) Yes (b) No (c) Sometimes ( )
(9) What are your motives for making investment in shares and securities in
Derivatives Market (Please Rank) ?
(a) Risk Management
(b) High Volume transaction with less margin
(c) Low Brokerage as compared to cash delievery segment
(d) Portfolio/Index/Basket Trading
(e) More Opportunity for speculation ( )
(10) Which factors influence you while selecting a broker (Please rant up to 3 ) ?
(a) Brokerage
(b) Frequent Payment
(c) Less advance margin
(d) Credit Limits
(e) Personal Relations ( )
(11) Are you aware of the different charged by your broker ?
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(a) Turnover/Transaction charges
(b) Service Tax
(c) Others ( )
(12) What is your satisfaction level pertaining to different charges charged by your
broker ?
(a) satisfied (b) Neutral
(c) Dissatisfied ( )
(13) What are the benefits of trading in derivative segment over the cash segment ?
(a) Basket trading (b) Low Brokerage
(c) Short-Sale for a longer period
(d) Option (CA,PA)available which provides calculation risk( )
(14) Rate the services Provided by your brokers ?
Service Good Fair Poor Confirmation of
tradesPhone Service
Brokerage
Professional advice
Relaxation advance
marginsPayment
Staff Behavior
(15) Tick the problems faced by you ?
(a) Depending the initial amount of investment
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(b) To trade where to invest
(c) To Complete Paper Work
(d) Delay in Payment
(e) Brokers do not deal all the investors in same respect
(f) Lack of knowledge about the rules and regulation of SEBI( )
(16) Any other problems faced by you:
Suggestion, if any:
BIBLIOGRAPHY
WWW.NSEINDIA.COM
WWW.BSEINDIA.COM
WWW.SEBIINDIA.COM
http://www.bseindia.com/http://www.sebiindia.com/http://www.bseindia.com/http://www.sebiindia.com/7/31/2019 23960670 Angel Broking Ltd Project 03
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NFCM, DEALERS MODULE HAND BOOK
RESEARCH METHODOLOGY
KOTHARI C.R. EDITION 2000
WWW.GOGGLE.COM
WIKIPEDIA
http://www.goggle.com/http://www.goggle.com/