B.COM (HONS.) PAPER XXXVII – PROJECT WORK

Role of Equity Market in Indian Economy

Report Submitted in the fulfillment of the requirement for the degree

of

Bachelor of Commerce (Hons) : Part III

Under the Supervision of

Mrs. Sarita Jain

By

Anubhuti Tyagi

Roll No. : 921

To

Daulat Ram College

(University of Delhi)

2010 - 2011

1

DECLARATION

This is to certify that Thesis entitled ” Role of Equity Market in Indian Economy”

which is submitted by me in fulfillment of the requirement for the award of degree

B.Com(Hon) to Daulat Ram College , Delhi University , Delhi comprises only my

original work and due acknowledgement has been made in the text to all other material

used.

Anubhuti Tyagi Mrs. Sarita Jain

(Department Of Commerce)

2

ACKNOWLEDGEMENT

This project has been a great learning experience for me. It has helped to apply my

theoretical knowledge into practical field.

It is quite impossible to acknowledge by name every individual who has played some

part in work. find it extremely difficult to express in words, our profound sense of

gratitude to the most respected people who helped us successfully to complete this

project.

Words of Honors are due to our fellow friends who helped immensely in simulating an

amicable environment.

Also a huge thanks to Mrs. Sarita Jain my mentor for directing us in making of this

project and providing her valuable guidance whenever we had approach with a

problem.

ANUBHUTI TYAGI

ROLL : 921

3

TABLE OF CONTENT

S. NO. TOPICS PAGE NO.

Chapter 1 INTRODUCTION 5 - 14

Chapter 2 OBJECTIVE AND

METHODOLOGY

15 - 18

Chapter 3 CONCEPTUAL

DISCUSSION

19 - 25

Chapter 4 IMPACT OF EQUITY

MARKET ON INDIAN

ECONOMY

26 -30

Chapter 5 CONCLUSION 31 – 32

Chapter 6 DATA ANALYSIS 33 – 40

Chapter 7 RECOMMENDATION 41

BIBLIOGRAPHY 42

QUESTIONNAIRE 43

4

CHAPTER 1

INTRODUCTION

ABOUT THE INDUSTRY

The equity broking industry in India has several unique features. It is more than a

century old, dynamic and forward looking, well conversant, highly innovative and

adaptable.

In the last decade, the Indian brokerage industry has undergone a dramatic

transformation. From being made of close groups, the broking industry today is one of

the most transparent and compliance oriented businesses. There have also been major

changes in the way business is conducted. Technology has emerged as the key driver

of business and investment advice has become research based. At the same time,

adherence to regulation and compliance has vastly increased.. Greater need for

capitalization has induced several firms to access the capital market; foreign firms are

showing increasing interest in taking equity stakes in domestic broking firms.

The strength and growth prospects of the industry prompted us to launch the inaugural

edition of this publication, which complements our endeavors to expand the scope of

our research and advisory services to the securities markets in India. It provides an

5

insight into the Indian broking industry, with a focus on the performance and profiles

of the broking houses.

CONCEPT OF STOCK EXCHANGE

The stock exchanges are the important segment of its capital market. If the stock

exchanges are well regulated and function smoothly, then it is an indicator of healthy

capital market. If the state of the stock exchange is good, the overall capital market will

grow and otherwise it can suffer a great set back which is not good for the country. The

stock market and the capital market are controlled by the government at various stages.

A capital market deals in financial assets, excluding coin and currency. The majority of

financial assets are comprised by banking accounts, Pension and provident funds,

insurance policies, shares and securities.

Financial assets are claim of holders over issuer (business firms and governments).

They enter low different segment of financial market.

Those having short maturities that are non transferable like bank savings and

current accounts set the identification of the monetary financial assets. This market is

known as Money Market. Equity, Preferential shares and bonds and debentures issued

6

by companies and securities issued by the government constitute the financial assets

which are traded in the capital market.

Both money market and capital market constitute the financial market. Capital market

generally known as stock exchange. This is a institution around which every activity of

national capital market revolves. The stock exchange provides the opportunity to

investors for the continuous trading in securities. It is continuously engaged in the

capital mobilization process.

Another consequence of non existence of stock exchange would have been low saving

of the community, which means low investment and lower development of the country.

Full Form of Stock Exchange:

S - Securities provide for investor.

T - Tax benefits planning and exemption.

O - Optimum return on investment.

C - Cautious Approach.

K - Knowledge of Market.

Ex - Exchange of Securities Transacted.7

C - Cyclopedia of Listed Companies.

H - High yield.

A - Authentic Information

N - New Entrepreneur encouraged.

G - Guidance of Investor & Company.

E - Equity

BASICS OF STOCK MARKET

Every business has a lot of assets i.e., machinery, buildings, furniture, stock-in-trade,

cash, etc. It will also have liabilities. This is what the company owes to other people.

Bank loans, money owed to people from whom things have been bought on credit, are

the examples of liabilities.

Take away the liabilities from the total assets and you are left with the capital.

8

ASSETS – LIABILITIES = CAPITAL

Capital is the amount that the owner has invested in the business. As the business

grows and makes profits, it adds to its capital. This capital is subdivided into shares (or

stocks).If a company’s capital is Rs.10crore, that could be divided into 1 crore shares

of Rs.10 each. Part of this capital, or some of the shares, is held by the people who had

started the business (Promoters). Investors hold the other shares. These investors are

people, mutual funds and other institutional investors.

Stocks too have their two major classes or types:

a) Ordinary b) Preference

Ordinary stocks, also called equity stocks or common stocks, are for the general public

without any prejudice. Equity refers to the ordinary stocks. And that’s what concerns

us here because only ordinary stock can be purchased by people and traded on the

stock exchange. Holding equity entitles you to a share of the earnings and the assets of

a company. It means that if a company records profits for a year, investors are entitled

to a share of the profits. The share of the profits or earnings the company decides to

give its investors is called dividend.

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MANAGING OF STOCK EXCHANGE

Management of stock exchange is done by an elected body of members. These bodies

are known by different names in different stock exchange. For example, the

BOMBAY, INDORE and AHEMDABAD stock exchange are managed by a

‘governing board’. ‘Council of management’ governs the MADRAS stock exchange.

A committee manages the CALCUTTA stock exchange.

These governing bodies are powerful bodies enjoying extensive administrative power

of management and control over their respective stock exchange.

Indian Stock Market Overview

Indian stock market comprises of two exchanges

1. National Stock Exchange.

2. Bombay Stock Exchange.

THERE ARE TWO MAIN STOCK EXCHANGE IN INDIA

NATIONAL STOCK EXCHANGENATIONAL STOCK EXCHANGE

BOMBAY STOCK EXCHANGEBOMBAY STOCK EXCHANGE10

NATIONAL STOCK EXCHANGE

The National Stock Exchange (NSE) is India's leading stock exchange covering

various cities and towns across the country. NSE was set up by leading institutions to

provide a modern, fully automated screen-based trading system with national reach.

The Exchange has brought about unparalleled transparency, speed & efficiency, safety

and market integrity. It has set up facilities that serve as a model for the securities

industry in terms of systems, practices and procedures.

NSE has played a catalytic role in reforming the Indian securities market in terms of

microstructure, market practices and trading volumes.

BOMBAY STOCK EXCHANGE

One of the oldest stock exchanges in India , responsible for approximately one third of

the country's trading volume. Tracing its origins to the 1830s, it is notable for the

Sensex , an index of the 30 most actively traded stocks on its floor that is considered

one of the most important benchmark indices in India. It is also known as Stock

Exchange, Mumbai or Bombay Stock Exchange.

11

PRODUCT AND SERVICES OF EQUITY MARKET :

Stock Broking

Stock Broking is related to the Secondary Market operations deal with the buying and

selling of shares of companies on the Bombay & National Stock Exchanges for the

clients at the best possible prices along with the recommendations from the input

provided by the Equity Research Cell.

Online Trading

The Internet has played a decisive role in ushering a new era of Net based trading in

the secondary markets. The NSE is in an advanced stage of development of Net

Trading and will be launching this facility soon. The clients and sub brokers can then

directly place the order for their Saudas on the Net routed through this web site and

will be able to get online confirmation of their respective transactions in real time. Net

Surfers can also access the latest price updates of shares on the BSE, NSE web site.

Derivatives’ trading is an interesting new concept that will allow clients to indulge in

speculation of stock prices for a future date. The Demat mode of holding and trading in

shares has gained in popularity due to its various advantages, such as, no Bad Delivery

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of shares, negligible time taken for transfer of shares, no Stamp duty of buying of

shares, increased liquidity etc.

Depository Participant

Similar to the brokers who trade on your behalf in and outside the stock exchange; a

Depository Participant (DP) is your representative (agent) in the depository system

providing the link between the Company and you through the Depository. Your

Depository participant will maintain your securities account balances and intimate to

you the status of your holding from time to time. According to SEBI guidelines,

Financial Institutions like banks, custodians, stockbrokers etc. can become participants

in the depository. A DP is one with whom you need to open an account to deal in

electronic form. While the Depository can be compared to a Bank, DP is like a branch

your bank with which you can have an account.

EMERGING FORMS OF EQUITY :

Insurance

In this fast moving world, we want safety of our life and all other things, which are

valuable to us. To protect our life and all such things, we generally go for insurance

under which a fixed amount of premium is paid for an assured sum.

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Mutual Fund

Mutual Fund investment is that investment under which the company whom operates

mutual fund collects money from the general public and then invests that money in

equity and debt market. Normally mutual fund investment is meant for all those

investor’s that haven’t invested yet in any form of market and also prefer regular

income with less risk.

Mutual Funds basically are of two types i.e. Systematic Investment Plan and

monthly Income Plan.

Systematic Investment Plan is that type under which invest is done in the multiple of

500 and minimum invest is of Rs. 500. The exposure of the investment under such

fund is wide in the equity market.

Monthly Income Plan is that plan in which exposure of the investment is wide to the

debt market. It is ideal for those who do not plan to spend time in monitoring the

movement of their investments on a regular basis and are conservative in their

investment style.

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CHAPTER 2

OBJECTIVE AND METHDOLOGY

OBJECTIVES

To study the equity market industry in detail.

To study the investment procedure in Equity market.

To maximize our learning about corporate world.

To learn corporate etiquettes.

To develop marketing and selling skills.

To put management theory into practice.

To create valuable database for the company.

To study the Accounting and Valuation methods of Equity market.

To study the investors Preference regarding Investment in Equity market.

MANAGERIAL USEFULNESS OF THE STUDY

Market survey will help to know the prevailing market condition and also

help in framing the policies accordingly.

The study will help the management to understand the customer mind set and

also estimating the present and future market demand for the products.15

It will help to estimate the level of awareness establish in the market and in

deciding the extent of promotion required.

Helps to deal with different customers.

Helps to overcome the objections of the customers.

Helps to understand the problems of agents in a broader prospect.

METHODOLOGY

RESEARCH METHODOLOGY

Research Methodology is a way to systematically solve the research problem. The

research begins its formation when the problem or objective of the research is

identified for which a research report is conduced. The main objective for which this

report is carried out is to make an analytical study of Working of Sock Exchange.

RESEARCH DESIGN

16

There are various methods of research design like Exploratory Research Design,

Descriptive Research Design, Diagnostic Research Design, Deign and Hypothesis

Testing Research Design.

In this report, Descriptive Research Design and Exploratory Research Design has been

used.

SOURCES OF DATA:

Basically two types of data are available to the researcher namely:

1. Primary data

2. Secondary data

In the present study, secondary as well as primary data has been used. I have collected

Primary data from stockbrokers and clients with the help of questionnaire and

Secondary data from the different books and magazines on stock exchange and

websites of stock exchange.

SAMPLE SELECTION

The method of data collection is enumerated as follows:

Questionnaire filled by general public.

SAMPLE AREA

17

The data has been collected from 4 metropolitan cities.( Delhi , Mumbai , Chennai ,

Kolkata.)

SAMPLE SIZE

Sample has been taken from 50 respondents (in form of 100%).

CHAPTER 3

18

CONCEPTUAL DISCUSSION

CAPITAL MARKET

Capital market provides long term capital to the industrial sector for the expenditure on

land, plant and machinery, building etc, which are permanent and used for production.

The long term finance is met by the market.

Capital Market Is Of Two Types

1. Primary capital market.

2. Secondary capital market.

In simple term Primary capital market is called the market of new issues and

secondary capital market is called the market of exiting issues.

1. PRIMARY MARKET

Also termed as new market is concerned with primary issue of securities by enterprises

for their establishment, expansion, modernization and reorganization etc. Primary

market is related to the generation of capital through new issue of shares, debentures

and bonds, where investors may directly apply for the allotment of securities. The

operation of primary market includes :

(1) New issue by existing or new company.

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(2) Right issue.

(3) Issue of debentures and bonds.

Primary market is considered to be the easiest way through which funds may be

collected for corporate sector. The SEBI has issued certain procedural guideline for the

simplification and standardization of liberation economic policy, the primary market

has shown a tremendous growth in the last few years.

2. SECONDARY MARKET

It is that market where securities are regularly bought and sold. The primary market is

related with the issues whereas the secondary market relates to the trading of such

securities. The secondary market provides liquidity to the investors. Trading in

secondary market is governed by the bye laws and regulations of the stock exchange

concerned. After the securities are listed on a recognized market these can be freely

transacted through its members. The trading operations are carried for a fixed number

of hours in a trading hall called trading ring. The stock exchange provides necessary

information to the investors. The SEBI has issued various guidelines to regulate and

control the operations of secondary market. There are different types of secondary

markets operating in the country.

HOW DO STOCK GET CREATED?

20

World over, people who start a company usually do not have enough money. So they

look elsewhere and try to rope in others to chip in. They divide the entire capital that

the company needs into a large number of units of easily affordable amounts. For

example, if a company requires a capital of Rs.1 crore, it may divide it into 10 lakh

units of Rs. 10 each. Such units are called stocks and Rs. 10 is known as the par value

of the stock. Thus, anyone with a few hundred rupees to spare can invest in the

company.

IS STOCK AND EQUITY THE SAME THING?

We use equity and stocks interchangeably. Equity refers to ordinary stocks. And that’s

what concerns us here because only ordinary stocks can be purchased by individual

investors and traded on the stock exchanges. Stocks again refer to equity. Unless we

mention preference stock, stock is always for the equity stocks.

ROLE PLAYERS IN STOCK EXCHANGE

1. STOCK BROKERS

SEBI registered stock - brokers interested in providing Internet based trading services.

They will be required to apply to the respective stock exchange for a formal

permission. The stock exchange should grant approval or reject the application as the

case may be, and communicate its decision to the member within thirty calendar days

of the date of submitting completed application to the exchange. The stock exchange, 21

before giving permission to brokers to start internet based services shall insure the

fulfillment of the minimum conditions.

Stock brokers are the members of stock exchange. These are the persons who buy, sell

or deal in securities. A certificate of registration from SEBI is mandatory to act as a

broker. SEBI can impose certain conditions while granting the certificate of

registration. It is obligatory for the person to abide by the rules, regulations and the

bye-laws.

2. MARKET MAKERS

Market makers are a designated specialist in the specified securities. They make both

bid and offer at the same time. Bid price means the quoted price at which they would

pay to a prospective seller. Offer or asking price is the price which they would charge

from a prospective buyer. The market makers quotes are binding on them up to a

certain commitment. He is exempt from margin- requirement.

3. PORTFOLIO CONSULTANT

A combination of securities such as socks, bonds and Money Market instruments is

called as portfolio. Whereas the portfolio consultants are the persons or firms or

companies who advise or direct or undertake the management or administration of

22

securities or funds on behalf of their clients. The portfolio management can be

discretionary or non-discretionary.

4. INSTITUTIONL INVESTORS

Institutional investors mean the different investment institutions which mobilize the

savings of the people and invest them in different types of securities Like ICICI, IDBI,

GIC, LIC.

How to make money in stock market ?

There are two modes:

a) Offline Trading

Its simply means going to a broker house placing order on telephone by the

customer by calling on a broker. But, at first one has to open a demat and trading

account with a broker.

b) Online Trading

Internet has changed the way to do trading. The entire process is speedy with

limited to zero paper work. The process of online trading has become seamless.

All that is needed is a PC, a modem, subscription to an Internet Service Provider

23

(ISP), a saving and a depository account and there is a wide choice of online

trading brokers to choose from.

The various transactions involved in online trading can be shown from the

point of view of the:

a) Client

b) Broker

c) Stock Exchange

24

This can be explained through a diagram:

The Broker makes the payment either directly via the client’s bank account or pays through his own account and recovers it later from the client.

25

The Client places an order via the net by logging on to his broker’s site.

The Broker accepts and executes the order, and places it with the exchange.

The broker accepts the order after checking the share limit for the day.

The exchange receives money and completes the settlement.

The client is intimated about the settlement either through the demat account or via e-mail.

CHAPTER 4

IMPACT OF EQUITY MARKET ON INDIAN ECONOMY

Equity market will continue to remain in bearish mood with reduced off-shore flows,

limited domestic appetite due to liquidity pressure and pressure on corporate earnings;

while the inflation would stay under control, increased demand for domestic liquidity

will push interest rates higher and we are likely to witness gradual rupee depreciation

and depleted currency reserves. Overall, while RBI would inject liquidity through

CRR/SLR cuts, maintaining growth beyond 7% will be a struggle.

The banking sector will have the least impact as high interest rates, increased demand

for rupee loans and reduced statutory reserves will lead to improved NIM while, on the

other hand, other income from cross-border business flows and distribution of

investment products will take a hit. Banks with capabilities to generate low cost CASA

and zero cost float funds will gain the most as revenues from financial intermediation

will drive the banks’ profitability.

Given the dependence on foreign funds and off-shore consumer demand for the

India growth story, India cannot wish away from the negative impact of the present

26

financial crisis but should quickly focus on alternative remedial measures to limit

damage and look in-wards to sustain growth!

Role of capital market during the present crisis:

In addition to resource allocation, capital markets also provided a medium for

risk management by allowing the diversification of risk in the economy. The

well-functioning capital market improved information quality as it played a

major role in encouraging the adoption of stronger corporate governance

principles, thus supporting a trading environment, which is founded on

integrity. Liquid markets make it possible to obtain financing for capital-intensive

projects with long gestation periods..

For a long time, the Indian market was considered too small to warrant much

attention. However, this view has changed rapidly as vast amounts of

international investment have poured into our markets over the last decade.

The Indian market is no longer viewed as a static universe but as a

constantly evolving market providing attractive opportunities to the global

investing community.

27

Now during the present financial crisis, we saw how capital market stood still

as the symbol of better risk management practices adopted by the Indians.

Though we observed a huge fall in the sensex and other stock market

indicators but that was all due to low confidence among the investors.

Because balance sheet of most of the Indian companies listed in the sensex

were reflecting profit even then people kept on withdrawing money.

While there was a panic in the capital market due to withdrawal by the FIIs, we saw

Indian institutional investors like insurance and mutual funds coming for the rescue

under SEBI guidelines so that the confidence of the investors doesn’t go low.

SEBI also came up with various norms including more liberal policies

regarding participatory notes, restricting the exit from close ended mutual

funds etc. to boost the investment.

28

ADVANTAGES AND DISADVANTAGES OF INVESTING IN EQUITY SHARES:

ADVANTAGES :-

BONUS SHARES

When a person invests in the shares of a good companies , the companies may issue

bonus shares, This will increase the capital holding of the investor. This can also

increase the amount of dividend that a person earns from these bonus shares.

PORTFOLIO

Investing in the shares various companies in the stock market can help to prevent

concentration of funds in similar investment . People might have invest in various

investment avenues. Equity markets also can be one of them as it will help to

diversify the investment of an individual.

DIVIDEND EARNINGS

Many good companies that are listed provides dividend. Some companies provide

more than 6 % in dividend each year. The capital appreciation and other benefits for

the investors along with the dividend can be very rewarding for the investor.

29

DISADVANTAGES:-

The benefits of investing in share are many but there are few pitfalls to avoid. These

include:

1. Crash in share prices: Due to one reason or the other, sometimes share prices drop so

much. A discerning investor should know what to do at any point in time.

2. Sometimes companies go into liquidation thereby eroding the investments of

ordinary shareholders. For example, some banks in Nigeria that did not meet up with

the N25 billion minimum capitals as directed by the central Bank of Nigeria (CBN)

died with investors’ money. You must be vigilant to watch over your investment if you

consider it important to you.

3. Fraudulent stock brokers: some stockbrokers are unfaithful to their clients. They

may collect your money when there is perceived information that the shares of a

particular company is a good one and instead of making the transactions in your name

may divert the money for their selfish interest, may be use it to make their own

investments. When the company has closed her book, they may call you for refund or

may embezzle your money like that. You must be careful in selecting your

stockbroker.

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CHAPTER 5

CONCLUSION

1. GENERAL FINDINGS :

The stock exchange is important part of country capital market. It is the central place

where industrial securities are bought and sold under codes of rule and regulation for

consideration through member as broker. The recent implementation made by SEBI

leads to great impact on the stock market.

It was found that in current scenario, the bank rates have been cut down rapidly

due to severe competition, so people and not going for contemporary deposits

because that cannot provide them the better returns or the desired interest rates.

So, they can

Investors in stock market are mostly looking for long term investment.

Some customers believe that financial instrument provides a better source of

investment against derivatives while some believe they don’t.

Mostly customers prefer either using both futures as well as options or just

options because options require small investment than futures.

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2. FACTORS INFLUENCING INVESTORS SENTIMENTS,

ATTITUDES AND EXPECTATIONS :

There are various factors which cannot be enumerated but we can highlight few of

them in three broad categories:

a) Company’s earning ability and its goodwill in market.

b) Overall Macro-Economics Situation of the Country: Indicators like Of

Economic Growth, Inflation level, Interest Rates and most importantly prospects

for growth are considered by investors.

c) Political and Social stability of the country : factors like stability of

Government and prevalence of peace and harmony in various parts of the

country.

d) Legal regulations imposed on investments : Legal regulations imposed by the

govt. or its bodies on various categories of Investors also determine the

sentiments of various groups of investors.

32

CHAPTER 6

DATA ANALYSIS

Ques.1. Occupation of people investing in stock market.

Ans. a) Business b) Service c) Students d) Housewife

e) Retired f) Others

Fig 4.1

Interpretation: We can observe from the above diagram that people working in

service sector i.e. 42% and business sector i.e. 30% have more investment in stock

market as compared to students, retired and housewife which is less than 15%.

33

Ques.2. Age of the people.

Ans. a) Below 25 b) 25-35 c) 35-45 d) Above 45

Fig 4.2

Interpretation: We can observed that people of middle age group i.e. 25-35 year

like more to invest there money in stock market in comparison to old age people and

youngsters.

34

Ques.3. Through which broker company do you invest your money?

Ans. a) Religare b) Unicon c) India Bulls d) Kotak

e) SMC f) Others

Fig 4.3

Interpretation: We can see that people prefer broker company like Religare, Kotak

most in comparison which is more than 22% to others like Indian Bulls, Unicon, India

Infoline which is less than less than 20%.

35

Ques.4. How did you came in contact with stock market?

Ans. a) Friends b) Relatives c) Newspapers d) Through Company

Fig 4.4

Interpretation: We can observed that most of the people came in contact with stock

market through there friends and through the broker company itself.

36

Ques.5. Which is the most favoured market investment from your point of view?

(MUTUAL FUND)

Ans. a) Equity b) Debt c) Money Mkt. d) Balanced

Fig 4.5

Interpretation: From the above diagram we can observe that the most favoured market for investment of mutual fund is equity market in comparison to debt, money market and balanced.

37

Ques.6. On whom advice / tips you are trading?

Ans. a) Broker b) Friends c) Relatives d) Analyst

e) Others

Fig 4.6

Interpretation: We can see that 34% people works on the advice of their broker and 28% people works on the advice of analyist.

38

Ques.7. What is your level of awareness in regard to mutual funds?

Ans. a) Aware b) Unaware

Level of awarness in Mutual fund

Aware64%

Unaware36%

Fig 4.7

Interpretation: Above fig. shows that 64% people are aware of the mutual fund and

36% people are unaware.

39

Ques.8. Why do you prefer Online Trading?

Ans. a) Privacy b) Time saving c) Convenience d) All

Fig 4.8

Interpretation: From the above diagram we can observe that online trading gives

all the three benefits i.e privacy, time saving and convenience that is why they prefer

online trading.

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CHAPTER 7

RECOMMENDATIONS

The main recommendation from the study is as follow:-

There should be a complete online system, which enables the investor to

participate in, and the public should be making aware of the system.

Prevent exploitation of investor by the market malpractices by introducing

formal market making arrangement in best possible manner.

To attract more investor, the companies should introduce more service center

and online share trading because investor are not satisfied till the they do not

meet the dealing physically along with stock Broker/investor.

There should be flexibility on margin money so that people can trade more.

The online share trading companies also should provide more

facilities like hypothecation and mortgage.

Introduce uniform settlement period in all the stock exchange and

all share in order to certify the market on national level.

41

BIBLIOGRAPHY

BOOKS:-

Securities Market Module :- NCFM

Chandra Prasanna, “Investment Analysis and Portfolio Management”, 2nd

Edition TMH Publishing Company Limited.

Bhalla V.K., “Security Analysis and Portfolio Management”, 8th Edition, S. Chand and Company Limited.

Pandey I.M., “Financial Management”, 9th Edition, Vikas Publishing House

Pvt Limited.

WEBSITES:-

http://xn--www-rp0a.equitymaster.com/

http:// xn--www-rp0a.economicstimes.com/

http://www.nseindia.com/

http://business.mapsofindia.com/investment-industry/indian-derivatives-market.html

http://www.bseindia.com/

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QUESTIONNAIRE

Ques.1. Through which broker companies do you invest your money?

Ans. a) Religare _ b) Unicon _ c) India Bulls _ d) Kotak _

e) SMC _ f) Others _

Ques.4. How did you came in contact with stock market?

Ans. a) Friends b) Relatives c) Newspapers d) Through Company

Ques.2. Which is the most favoured market investment from your point of view?

Ans. a) Equity _ b) Debt _ c) Money Mkt. _ d) Balanced _

Ques.9. On whose advice / tips you are trading?

Ans. a) Broker _ b) Friends _ c) Relatives _ d) Analyist _

e) Others _

Ques.6. What is your level of awareness in regard to mutual funds?

Ans. a) Aware _ b) Unaware _

Ques.7. Why do you prefer Online Trading?

Ans. a) Privacy _ b) Time saving _ c) Convenience _ d) All _

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Name:Occupation:a) Business b) Service c) Students d) Housewife e) Retired f) OtherAge:a) Below 25 b) 25-35 c) 35-45 d) Above 45Gender:

a) Male b) Female

44