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A SUMMER TRAINING PROJECT REPORT
ON
“COMPARITIVE ANALYSIS OF RELIGARE SECURITIES LIMITED
WITH OTHER BROKERAGE HOUSES”
SUBMITTED IN PARTIAL FULLFILMENT FOR THE COURSE OF
MASTER OF BUSINESS ADMINSTRATION (MBA)
SESSION 2010-2012
CHANDIGARH GROUP OF COLLEGES, GHARUAN
SUBMITTED TO: SUBMITTED BY:
MRS. DIVYA MATHUR VINAY THAKUR
ASST. PROF. MBA (3rd SEM)
ROLL NO- 105512277038
TO WHOM IT MAY CONCERN
This is certifying that Mr. VINAY THAKUR the student of Chandigarh Group of
colleges MBA has carried out the project work as per the syllabus of Punjab
Technical University. He has prepared this report on “Religare Securities limited”
under my guidance. To the best of my knowledge and belief the details presented by
him are original.
I wish him all the best
Mrs. Divya Mathur (Asst. Prof.)
DECLARATION
I VINAY THAKUR the student of MBA in CHANDIGARH GROUP OF COLLEGES,
GHARUAN (MOHALI)Completed my training project on RELIGARE SECURITIES
LIMITED as assigned by the company to me as a part of my MBA Summer Training.
The information given in this project is true and correct to the best of knowledge. This
project has not been submiited to any other institution or college.
Vinay Thakur
MBA-3 rd sem
Roll No- 105512277038
ACKNOWLEDGEMENT
I acknowledge with gratitude & my thanks to managing director of the organization for
granting me the permission for granting me the permission for undergoing six weeks
training in his esteem organization named as Religare securities ltd. Panchkula.
I sincerely thanks to Mr. Ramel Thakur Branch Manager Religare securities ltd. for
giving me valuable and precious guidance in the field of securities.
My special thanks to all the staff members of Religare Securities Ltd. for their kind
nature and cooperation.
I express my cordial thanks to Dr. Rajiv Khosla H.O.D, of Chandigarh Group Of
colleges Gharuan (Mohali) of allowing me to complete my project. I express my special
thanks to my Guide Mrs.Divya Mathur for providing me the books, the support and the
necessary suggestions whenever I needed.
And last but not the least, my heartfelt gratitude goes to my Parents and Family
Members for their continuous inspiration and a lot of patience and sacrifice during the
period consumed by me for this project work.
Vinay Thakur
MBA III- A
CONTENT
Chapte
r No.
contents Page No.
1. Chapter 1-History Of Religare and company
profile.
2. Chapter 2- Basicss of Indian stock markket
3. Chapter 3-Study And Analysis Of Religare With
Other Brokerage Houses
4. Chapter 4-Data Collection And Research
Methodology
5. Chapter 5-Analysis And Interpretation
6.
Chapter 6- Bibliography
7.
Conclusion and Recommendations
CHAPTER 1
HISTORY OF
RELIGARE
RELIGARE
RELIGARE is RANBAXY Promoters Company
Religare is one of the leading integrated financial services institutions of India. The
company offers a large and diverse bouquet of services ranging from equities,
commodities, insurance broking, to wealth advisory, portfolio management services,
personal finance services, Investment banking and institutional broking services.
Religare Enterprises Limited is the holding company for all its businesses, structured
and being operated through various subsidiaries.
Background
Religare’s businesses, routed through subsidiaries in which it holds 75-100 per cent
stakes, span stock broking, loans against shares, commodities broking, personal
lending, depository services, wealth management, venture capital, insurance broking,
real-estate investing, insurance and arts advisory services. These are offered to retail
and institutional clients.
Religare’s retail network spreads across the length and breadth of the country with its
presence through more than 1,217 locations across more than 392 cities and towns.
Having spread itself fairly well across the country and with the promise of not resting on
its laurels, it has also aggressively started eyeing global geographies
Religare is a Latin word that translates as 'to bind together'. This name has been
chosen to reflect the integrated nature of the financial services the company offers. The
name is intended to unite and bring together the phenomenon of money and wealth to
co-exist and serve the interest of individuals and institutions, alike.
Religare is among India’s largest financial services house having more than 150 offices
and 300 partner locations
SYMBOL
The Religare name is paired with the symbol of a four-leaf clover. The four-leaf
clover is used to define the rare quality of good fortune that is the aim of every financial
plan. It has traditionally been considered good fortune to find a single four leaf clover
considering that statistically one may need to search through over 10,000 three-leaf
clovers to even find one four leaf clover. Each leaf of the four-leaf clover has a special
meaning in the sphere of Religare.
The first leaf of the clover represents Hope. The aspirations to succeed.
The dream of becoming. Of new possibilities. It is the beginning of every
step and the foundations on which a person reaches for the stars.
The second leaf of the clover represents Trust. The ability to place one’s own
faith in another. To have a relationship as partners in a team. To accomplish a
given goal with the balance that brings satisfaction to all not in the binding but
in the bond that is built.
The third leaf of the clover represents Care. The secret ingredient that is the
cement in every relationship. The truth of feeling that underlines sincerity and
the triumph of diligence in every aspect. From it springs true warmth of service
and the ability to adapt to evolving environments with consideration to all.
The fourth and final leaf of the clover represents Good Fortune. Signifying that
rare ability to meld opportunity and planning with circumstance to generate those
often looked for remunerative moments of success.
Hope. Trust. Care. Good fortune. All elements perfectly combine in the
emblematic and rare, four-leaf clover to visually symbolize the values that bind
together and form the core of the Religare vision.
Fig 2.2
1.3 Group structure:
Religare Securities Limited
Equity Broking
Online Investment Portal
Portfolio Management Services
Depository Services
Religare Commodities Limited
Commodity Broking
Religare Capital Markets Limited
Religare Finvest Limited
Lending and Distribution business
Proposed Custodial business
Religare Insurance Broking Limited
Life Insurance
General Insurance
Reinsurance
Religare Arts Initiative Limited
Business of Art
Investment Banking
Proposed Institutional Broking
Religare Realty Limited
In house Real Estate Management Company
Religare Hichens Harrison**
Corporate Broking
Institutional Broking
Gallery launched - arts-
Religare Venture Capital Limited
Private Equity and Investment
Manager
Religare Asset Management*
Derivatives Sales
• Corporate Finance
•
* Religare Asset Management Company (P) Limited is a wholly owned subsidiary of
Religare Securities Limited (RSL), which in turn is a 100% subsidiary of Religare
Enterprises Limited.
** Religare Hichens, Harrison plc. (RHH) is a part of Religare Enterprises Limited (REL) –
a leading integrated financial services group of India. Hichens, Harrison & Co. plc. (HH),
established in 1803 is London’s oldest brokerage and investment firm with a global
footprint. Post its acquisition through REL’s indirect subsidiary - Religare Capital Markets
International (UK) Limited, HH has been rechristened as Religare Hichens Harrison plc.
1.4 Our Joint Ventures
AEGON Religare Life Insurance Company
Life Insurance business (AEGON as a partner)
www.aegonreligare.com
Religare Macquarie Wealth Management Ltd.
Private Wealth business (Macquarie, Australian
Financial Services major as a partner)
http://www.religaremacquarie.com
Vistaar Religare -The Film Fund
India's first SEBI approved Film Fund (Vistaar as a
partner)
http://www.vistaarreligare.com/
Milestone Religare - Private Equity Fund
Milestone, one of India's premier independent fund
houses and Religare have come together and through
the JV have formed an entity, Milestone Religare
Investment Advisors Private Limited.
http://www.milestonereligare.com/
S. No. Location Type Address
1 Registered Office
D3, P3B, District Centre, Saket
New Delhi, Delhi-India
Pin Code: 110017
Phone: 011-39125000,,,
Fax: 011-39126505,
2 Corporate Office A3,4,5, GYS Global, Sec 125
NoidaUttar Pradesh-India
Pin Code: 201301
Phone: 0120-3391000,,,
Fax: ,
Central Leadership Team
Mr. Sunil Godhwani
Chairman and Managing Director,
Religare Enterprises Limited
Mr. Shachindra Nath
Group CEO, Religare Enterprises Limited
Mr. Anil Saxena
Chief Financial Officer,
Religare Enterprises Limited
1.6 OUR ORGANIZATIONAL STRUCTURE
1.7 Religare securities ltd services:
The services provided by Religare securities Ltd are
E-Broking
Religare provides software’s to customers for online trading on BSE, NSE, F&O, MCX &
NCDEX different software product are:
Religare online portal
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
Religare LG Diet
Application based ideal for traders.
Multiple exchanges on single screen
User friendly & simple navigation
BSC, NSC, F&O, MCX & NCDEX
Investment Advisory Services
To derive optimum returns from equity 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 portfolio
in growth oriented sectors and stocks to minimize the risk and optimize the returns.
Portfolio Management Services
Religare offers Portfolio management service (PMS) to address varying investment
preferences. As a focused service, PMS pays attention to details, and portfolios are
customized to suit the unique requirements of investors.
Religare PMS currently extends six portfolio management schemes, viz Monarque,
Panther, Tortoise, Elephant, Caterpillar and Leo. Each scheme is designed keeping in
mind the varying tastes, objectives and risk tolerance of our investors.
Our Schemes
Monarque
The portfolio aims at the ultra High net worth income(HNI) category and is structured to
provide higher returns by taking aggressive positions across sectors and market
capitalizations.
Panther
The Panther is suitable for the "High Risk High Return" investor with a strategy to invest
across sectors.
Tortoise
The Tortoise is suitable for the "Medium Risk Medium Return" investor with a strategy to
invest in companies which have consistency in earnings, growth and financial
performance. The Tortoise portfolio aims to achieve growth in the portfolio value over a
period of time by way of careful and judicious investment in fundamentally sound
companies having good prospects.
Elephant
The Elephant portfolio aims to generate steady returns over a longer period by investing
in Securities selected only from BSE 100 and NSE 100 index. This plan is suitable for
the “Low Risk Low Return” investor with a strategy to invest in blue chip companies, as
these companies have steady performance and reduce liquidity risk in the market.
Caterpillar
The Caterpillar portfolio aims to achieve capital appreciation over a long period of time
by investing in a diversified portfolio. This scheme is suitable for investors with a high
risk appetite. The investment strategy would be to invest in scrips which are poised to
get a re-rating either because of change in business, potential fancy for a particular
sector in the coming years/months, business diversification leading to a better operating
performance, stocks in their early stages of an upturn or for those which are in sectors
currently ignored by the market.
Leo
Leo is aimed at retail customers and structured to provide medium to long-term capital
appreciation by investing in stocks across the market capitalization range. This scheme
is a mix of moderate and aggressive investment strategies.
1.8 BENEFITS OF RELIGARE
We serve you with a diligent, transparent & process driven approach and ensure that
your money gets the care it deserves.
No experts, only expertise. PMS brought to you by Religare with its solid reputation of
an ethical and scientific approach to financial management. While we offer you the
services of a dedicated Relationship Manager who is at your service 24x7, we do not
depend on individual expertise alone. For you, this means lower risk, higher
dependability and unhindered continuity. Moreover, you are not limited by a particular
individual’s investment style.
No hidden profits. We ensure that a part of the broking at Religare Portfolio
Management Services is through external broking houses. This means that your
portfolio is not churned needlessly. Using more broking firms gives us access to a larger
number of reports and analysis, enabling us to make better, more informed decisions.
Furthermore, your portfolio is customized to suit your investment objectives.
Daily disclosures. Religare Portfolio Management Services gives you daily updates on
your investment. You can pinpoint where your money is being invested, 24x7, instead of
waiting till the end of the month to keep track.
No charge till you profit*.So sure are we of our approach to Portfolio Management
that we do not charge you for our services, until your investments start showing profit.
With customized investment options Religare Portfolio Management Services invites
you to invest across five broad portfolios to suit your investment needs.
* Except fixed administrative charges.
COMPANY PROFILE
RELIGARE Securities Ltd. (RSL) is a wholly owned subsidiary of RELIGARE Financial
Services Ltd. (RFSL), a Company promoted by the late Dr. Parvinder Singh, Ex-CMD of
Ranbaxy Laboratories Ltd.
The primary focus of Religare Securities Ltd. is to cater to services in Capital Market
Operations to Institutional Investors. The Company is a member of the National Stock
Exchange (NSE) and OTCEI. The growing list of financial institutions with whom RSL is
empanelled as approved Broker is a reflection of the high levels of services maintained
by the Company.
As on date the Company is empanelled with UTI, IDBI, IFCI, SBI, BOI-MF, Punjab
National Bank, PNB-MF, Oriental Insurance, GIC, UTI-Offshore, ICICI Can bank MF,
Punjab & Sind Bank, Pioneer ITI, SUN F&C, IDBI Principal, Prudential ICICI, ING
Baring and J M Mutual Fund.
RELIGARE was founded with the vision of providing integrated financial care driven by
the relationship of trust. The bouquet of services offered by RELIGARE includes
Broking (Stocks and Commodities), Depository Participant Service, Advisory on Mutual
Fund Investments and Portfolio Management Services.
RELIGARE is a pioneer in the concept of partnership to reach multiple locations in order
to effectively service its large base of individual clients. Besides the reach of
RELIGARE, the clients of the company greatly benefit by its strong research capability,
which encompasses fundamentals as well as technical knowledge.
RELIGARE SECURITIES LIMITED
1. Member of National Stock Exchange of India and Bombay Stock
Exchange of India.
2. Depository Participant with National Securities Depository
Limited (NSDL) and Central Depository Services Limited (CDSL).
3. A SEBI approved Portfolio Manager.
RSL provides platform to all segments of the investor to leverage the immense
opportunity offered by equity investing in India either on their own or through managed
funds in Portfolio Management.
The ARN No. of the Religare Securities Ltd. is 33764. The ARN No. is required by to be
available with the broker who deals on behalf of investors or sell the mutual funds of the
different companies present in the market.
About the company:-
Religare is a diversified financial services group of India offering a multitude of
investment options.The diverse bouquet of financial services which Religare offers can
be broadly clubbed across three key verticals - Retail, Institutional and Wealth
spectrums. The services extend from asset management, Life Insurance, wealth
management to equity broking, commodity broking, investment banking, lending
services, private equity and venture capital. Religare has also ventured into the
alternative investments sphere through its holistic arts initiative and Film fund. With a
view to expand, diversify and introduce offerings benchmarked against global best
practices, Religare operates in the life insurance space under 'AEGON Religare Life
Insurance Company Limited' and wealth management under the brand name 'Religare
Macquarie Private Wealth'
NAME
Religare is a Latin word that translates as 'to bind together'. This name has been
chosen to reflect the integrated nature of the financial services the company offers.
Vision-To builds Religare as a globally trusted brand in the financial services domain
and presents it as the ‘Investment Gateway of India’
Mission- Providing financial care driven by the core values of diligence and
transparency.
Brand Essence-Religare is driven by ethical and dynamic processes for wealth
creation.
Services
Online access to our Institutional and Technical research.
We provide contract note through electronic format as well as in physical
form.
Online access of your ledger balance, stock, dividends.
Dedicated Relationship Managers for assisting multiple investments needs.
NSE-BSE cash segment, NSE F&O on a single platform.
Trade online and on phone (offline) at branch.
Online and offline transfer of funds through multiple banks such as ICICI,
HDFC, and Axis bank.
Live Broker Terminal.
CLIENT INTERFACE:-
Retail Spectrum- To cater to a large number of retail clients by offering all products
under one roof through the Branch Network and Online mode
Equity and Commodity Trading
Personal Finance Services
Mutual Funds
Insurance
Saving Products
Personal Credit
Personal Loans
Loans against Share
Online Investment Portal
Institutional Spectrum:-To Forge & build strong relationships with
Corporate and Institutions
Institutional Equity Broking
Investment Banking
Merchant Banking
Transaction Advisory
Corporate Finance
Wealth Spectrum-To provide customized wealth advisory services to High Net
worth Individuals
Wealth Advisory Services
Portfolio Management Services
International Advisory Fund Management Services
Priority Equity Client Services
Arts Initiative
PRODUCTS :-
Religare security deals in equities and commodities as well. There are mainly two types
of trading which are R-ALLY and R-ACE. R-ALLY is ODIN based platform which is also
known as online trading and R-ACE is Asian CERC platform. R-ALLY is mainly divided
into three products. Products are as follows…..
( 1 ) R A L L Y B A S I C –
In this product/service, Company offer a DMAT and TRADING Account to our
customers. They can trade through Phone or physical presence at office campus. We
provide all facility in office campus. There is a trading hall where all dealers buy/sell the
share according to orders of clients. Thus, we provide this service to customer with the
charge of Rs. 500/- only. After opening account they can buy/sell shares through our
company. The all work done by dealer in this service, he will buy/sell share on the
behalf of client through his client code.
( 2 ) R A L L Y L I T E
In this product/service, company offers the all service online through webpage. It is a
web based services. Customer can sell/buy shares through net himself. In this service
there is no need to call to dealer or physical presence of client. They can do own. This
facility is free, the account opening charge is Rs. 500/-, but in this product customer
have to pay minimum Rs. 5000/- only for using this service. This is not security money.
It is usable money for any buying shares. A client can use this money.
( 3 ) R A L L Y P R O
In this product/service, company offers software Odin Diet. Customer can sell/buy
shares from this software. There is no need to call or physical presence for trading. This
software is downloaded to client’s Pc. He can use it at own computer or own place. This
software is also free, but there is a brokerage commitment in these service charges. If
client cross the brokerage limit across the Rs. 1800/- only then this is refundable money
for client. It is credited to client’s account. Means the brokerage is adjusted against this
amount.
Now the customer analysis is depended their preference or requirement. If a client
usually do the business of share trading. He is able to come at office then he prefers
Rally Basic. Or a person who is busy with other business then he can use telephonic
services, and then he is also prefer of Rally Basic.
A person has Personal computer. His working on computer. He has no time to come at
office or call again and again then he can prefer Software or online Services. Thus it is
depended on customer’s convenience.
The mainly thing is brokerage Rate in competition to other companies. Company offers
3 paisa and 30 paisa on Intra-Day and Delivery to their clients. If client does work more
or higher turnover then it is negotiated.
PRODUCTS:
Products Subscription
fees
Enrolment
Deposit
R-ALLY NIL NIL
R-ALLY Lite (Browser Based) NIL Rs. 5,000
R-ALLY Pro (Application Based) Rs. 1,800 NIL
BROKERAGE:-
INTRADAY: - 3 paisa (.3%) (NEGOTIABLE)
DELIVERY: - 30 paisa (.03%) (NEGOTIABLE)
GEOGRAPHICAL DISTRIBUTION
NORTH
REGION
BRANCHES SOUTH
REGION
BRANCHES
Chandigarh 4 Bangalore 106
Haryana 41 Chennai 87
Madhya Pradesh 58 Andhra Pradesh 184
Rajasthan 75 Erode 15
Punjab 13 Karur 37
U. P.
&Uttaranchal
186 Kerala 64
Kochi 1
Madurai 57
Total North 377 Total South 551
East Region Branches Maharashtra
Region
(Excluding
Mumbai)
Branches
Bihar &
Jharkhand
71 Goa 13
Kolkata 105 Nagpur 48
Orissa &
Chhattisgarh and
rest of east
110 Pune & rest of
Maharashtra
211
North East 41
Total East 327 Total Maharashtra 272
Gujarat Region Branches Mumbai Region Branches
Gujarat 226 Mumbai 178
Arts Initiative
InvestmentBanking
Mutual Fund
Commodity
Equity
REL
.
Delhi & NCR Region Branches
Delhi & NCR 186
SERVICES:-
Competititors of Religare :-
There are several financial security companies playing their roles in Indian equity market. But
Religare faces competitions from these few companies.
ICICI Direct.com
Share Khan (SSKI)
Kotak Securities.com
India Bulls
HDFC Securities
5paisa.com
Motital Oswal
IL&FS
Karvy
Chapter-2
Basics of Indian Stock
Market
2.1 Indian Stock Market
Share or stock is a document issued by a company, which entitles its holder to be one
of the owners of the company. A share is issued by a company or can be purchased
from the stock market.
Share market where dealing of securities is done is known as share market. There are
two ways in which investors gets share from market:
Primary market: markets in which new securities are issued are known as primary
market. This is part of the financial market where enterprises issue their new shares and
bonds. It is characterized by being the only moment when the enterprise received
money in exchange for selling its financial assets.
Secondary Market: Market in which existing securities are dealt is known as secondary
market. The market where securities are traded after, they are initially offered in the
primary market. Most trading is done in the secondary market.
The Stock Market is an invisible market that trades in stocks of various companies
belonging to both the public and private sectors. The Indian Stock Market is often
referred to as the Share Market since it deals primarily with shares of various
companies.
A Stock Exchange is a place where the stocks are listed and traded. Such exchanges
may be a corporation or mutual organization which specializes in the business of
introducing the sellers with the buyers of stocks and securities.
The Indian Stock Market in India comprises of two main stock exchanges:
● Bombay Stock Exchange (BSE)
● National Stock Exchange (NSE)
BSE
The Bombay Stock Exchange (BSE) was established in 1875.The BSE India Stock
Exchange serves as the most important for companies to raise money. The chief
function of the Stock Market of India is to help raise money as capital for the growth and
expansion of various private and public sector enterprises. Besides, the Stock Market of
India provides able assistance to the individual investors through daily updates on
current position of the stocks of the respective companies that are enlisted in the Stock
Index in which the movement of prices in a section of the market are captured in price
indices.
The popular acronym for Stock Index is Sensitive index or Sensex. Moreover, the
liquidity provided by the exchange enables the investors to sell securities owned by
them easily and quickly. Hence a person, who is subjected to sudden dearth of funds,
can immediately sell his shares for cash in India Stock Market.
The BSE Sensex, also known as “BSE 30” is a widely used market index not only in
India but across Asia. In terms of volume of transactions, it is ranked among the top five
stock exchanges in the world.
NSE
The National Stock Exchange of India Ltd. (NSE), set up in the year 1993, is today the
largest stock exchange in India and a preferred exchange for trading in equity, debt and
derivatives instruments by investors. NSE has set up a sophisticated electronic trading,
clearing and settlement platform and its infrastructure serves as a role model for the
securities industry. The standards set by NSE in terms of market practices; products
and technology have become industry benchmarks and are being replicated by many
other market participants.
NSE provides a screen-based automated trading system with a high degree of
transparency and equal access to investors irrespective of geographical location. The
high level of information dissemination through the on-line system has helped in
integrating retail investors across the nation.
The exchange has a network in more than 350 cities and its trading members are
connected to the central servers of the exchange in Mumbai through a sophisticated
telecommunication network comprising of over 2500 VSATs.
NSE has around 850 trading members and provides trading in equity shares and debt
securities. Besides this, NSE provides trading in various derivative products such as
index futures, index options, stock futures, stock options and interest rate futures.
In addition to these organizations there are other organizations highlighting on the share
trading in the Indian Stock Market are:
● Securities and Exchange Board of India (SEBI)
● NSDL
● CDSL
The Nifty and the Sensex are the indicators which are the parameters denoting the
prices of the stocks of the major companies of the NSE and the BSE respectively.
Stock Broking Sector in India
The Indian broking industry is one of the oldest trading industries that has been around
even before the establishment of the BSE in 1875. Despite passing through a number of
changes in the post liberalization period, the industry has found its way towards
sustainable growth. In this section our purpose will be of gaining a deeper
understanding about the role of the Indian stock broking industry in the country’s
economy.
What is meant by a Stock Exchange?
The Securities Contract (Regulation) Act, 1956 [SCRA] defines ‘Stock Exchange’ as
anybody of individuals, whether incorporated or not, constituted for the purpose of
assisting, regulating or controlling the business of buying, selling or dealing in securities.
Stock exchange could be a regional stock exchange whose area of
operation/jurisdiction is specified at the time of its recognition or national exchanges,
which are permitted to have nationwide trading since inception. NSE was incorporated
as a national stock exchange
Which are the securities one can invest in?
● Shares
● Government Securities
● Derivative products
● commodity
● Units of Mutual Funds etc.
2.2 KIND OF BROKERS
There are six kinds of brokers. In other words we can say that the brokers function
on the Internet trading are of six types. When brokers works differently then they called by
different names. We will discuss these one by one.
Commission Broker
Near about the entire brokers buy and sell securities for earning a commission,
from investors point of view he is the most important person and his responsibility is to
buy and sell securities of his customers. It means that he acts as an agent of investor and
earns commission for his services rendered. The broker is also an independent dealer in
securities. He purchases and sells securities in his own name but he is not allowed to
deal with non-member.
Jobber
He is a professional speculator who works for a profit called ‘turn’ he makes a
Continuous auction in the market in the stock in which he is specialized. He trades in the
market even for small differences in the prices and helps to maintain liquidity in the stock
exchange.
Floor Broker
The floor broker buys and sells shares for the other broker on the floor of the
exchange. He is an individual member owes his set and receives his own commission on
the orders he execute.
Odd lot dealer
For trading in stock exchange there is a certain number of shares, a fixed to be
transacted In a lot, this is known as round lot which is usually, a 100 shares. Anything
less than the round lot is add lot. If a person is in a possession of add lot of share i.e.
10,20,30,40 etc. They will have to look for the add lot dealer. The dealer gets his profit on
the basis of the difference in the price at which he buys or sells the shares in odd lot, gets
the price less than the prices of the round noted.
Budliwala
He is the person who finance or provide credit facilities to the market, for this
service he charges a fee called contango or backwardation charges. The budliwala gives
a fully Secured loan for period of 2 to 3 weeks.
Arbitrageur
A person who is specialist in dealing with securities in different stock exchange
centres at the same time. He makes a profit by the difference in the price prevailing in
different centres of the market activity. For example the rate of certain scrip is higher in
some Stock Exchange than other. In this case the broker will buy the scrip from the
marked lower price and will sell the scrip in the market at higher price. The profit of the
Arbitrageur depends on the ability to get prices from the different centres before trading in
other Stock Exchanges.
2.3TRADING
The Exchange, which had an open outcry trading system, had switched over to a
fully automation computerized mode of trading known as BOLT (BSE online Trading)
System. Through the BO System the members now enter orders from Trader work
Stations (T W Ss) installed in their office instead of assembling in the trading ring.
Earlier, the members of the exchange were permitted to open trading terminals
only in Mumbai. However, in October 1996, the Exchange obtained permission from SEBI
for expansion of its BOLT network to locations outside Mumbai. In terms of the
permission granted by SEBI and certain modification announced later, the members of
the Exchange are now free to install their trading terminals at any place in the country.
ROLLING SETTLEMENT
In keeping with international best practice. SEBI introduced compulsory rolling
settlement in ten selected scrip on Jan. 10, 2000. All the ten selected feature in the
compulsory demat list and had a daily turnover of rate one crore. Though 153 more scrip
have been added to the list one of them enjoy care forward trading facility.
The feedback from market participant as well asthe result of the study undertaken by the
SEBI indicates the need for facility like continuous net settlement (CNS), carry forward in
rolling settlement and the automated lending and borrowing mechanism. As an
experiment many scrip in the popularity of rolling settlement. As an experiment many
scrip in the present compulsory rolling have been allowed with the facility of CNS, CRFC,
and AIBRS. Some stock exchange has commenced these facilities.
DELEIVERY TO BE RECEIVED
A statement is prepared which includes name of all those brokers and scrips,
which are to be received during same clearing.
DELIVERIES TO BE MADE
This statement includes the names of all those brokers and scrips for which a broker is
liable to make deliveries. This is simply the abstract form of the delivery orders which a
broker receive for his convenience.
Those two statements are meant for personal use of the brokers in these, two the
standers rate are mentioned.
MONDAY
Routine work is done and Friday errors are rectified .This day cheque received on
Saturday is logged into bank. The errors which we came to know regarding the 1 form are
supplied to the brokers. Same day those are rectified and given bank. These corrected
errors of 1 form are corrected in the copy of clearing house and then entries are made.
TUESDAY
This day along with the daily work, the daily sauda statement of 2nd clearing is prepared
after the rectification of Monday’s errors.
Concerning the 1st clearing two statements is prepared as all the transaction has been
cleared of 1st form also so the statements regarding their final payment from the buyers
are prepared. In it the computerized settlement amount of 1st form are included. Moreover
information regarding the dishonored cheque will be available which we help us in
debiting the brokers whose cheques have been dishonored.
The statement is called.
1. Cheque to receive.
2. Cheque to be made.
Regarding the cheques to be made the amount is transferred to the receiver’s
amount, and cheques to be issued list by an executive of the stock exchange. He
asks those entire broker to pay the cheques of amount specified in the statement
(Cheque to receive) if a broker does not cheque, the entry into the trading hall is
banned.
THURSDAY
Routine work will be done, as the errors of Wednesday will be rectified regarding the first
clearing, all the broker. Four lists prepare on Wednesday will distribute among the broker.
Seller broker on the basis of the basis of this document will deposit in the
documents with clearing house i.e.
1. SECURITY CERTIFICATE
2. TRANSFER DEED
3. SELLER TICKET (along with carbon copy)
After receiving the deliveries by Stock Exchange. The deed and seller ticket exchange for
being a good delivery and delivery is provide with a number which helps the clearing
house in sorting in securities on Saturday the original seller ticket is given back to the
seller broker immediately for the deliveries he has made.
FRIDAY
This day is called seller ticket exchange day, today trading takes place up to 1.30 p.m.
after the trading, seller tickets along with three copies of delivery order. Buying seep one
copy of delivery order and return the left two copies of delivery order duty stamped to
seller broker.
Seller broker deposits one copy of those two copies of delivery order to clearing house.
All this is done to inform the buyer that scrips have been deposited to the clearing house
and he can collect from them.
After the completion of the exchange on the basis of the deposited delivery order clearing
house would correct their office copy of delivery order. Then with the help of the 100
Shares are bought @ 110/- then difference of rupees 1000 (100*100) will be paid by the
seller broker defaulter.
2.4 LISTING of Securities
The term ‘listing’ means admission of securities of a company to dealing on a recognized
stock exchange. The term ‘securities’ and recognized stock exchange have been defined
U/s 2 of the securities Contracts (Regulation) Act, 1956 but ‘listing’ has not been defined.
NECESSITY OF LISTING
It is not obligatory for a company to enlist its share or other securities but it becomes
mandatory in the following circumstances
When public financial institutions stipulate a condition to the loan for the borrower
company to have its securities listed on any recognized stock exchange.
When a company declares in the prospectus to enlist its securities and is bound by
section 73 of the Companies Act, 1956.
When Central Government may require that corrected entries are made to know the
pending position.
SATURDAY
On Saturday, buyer who have collected or received the seller tickets and delivery order
will deposit the cheques (amount calculated by them along with the 1st and 2nd form)
TYPES OF LISTING
LISTING OF SECURITIES CAN BE OF VARIOUS TYPES. These MAY be:-
1. Initial listing- If the shares or securities are to be listed for the
first time on the exchange, it is called initial listing.
2. Listing of shares/debentures of public issue- A company whose shares
are listed on stock exchange, if comes out with the public issue of securities
has to get its shares listed.
3. Listing of securities issued on right basis – Companies whose securities
are listed on stock exchange may issue shares/ debentures to its existing
shareholders on right basis. The listing of such newly issued securities of an
already listed company falls under this category.
4. Listing of bonus shares-Shares issued as a result of capitalization of
profits or bonus issue are also require to be listed on a recognized stock
exchange.
5. Listing of shares issued as a result of merger or amalgamation –New
shares issued by amalgamated company to the shareholders of the
amalgamating company are also required to be listed for dealing on the
stock exchange.
2.5WHAT IS DEMATERIALIZATION?
Dematerialization in short called as demat is the process by which an investor can get
physical certificates converted into electronic form maintained in an account with the
depository participant .The investor can dematerialize only those share certificates that
are already registered in their name and belong to the list of securities admitted for
dematerialization at the depositories.
Demat account is a safe and convenient means of holding securities just like a bank
account is for funds. Today, practically 99.9% settlements (of share) take place on Demat
mode only. Thus, it is advisable to have a Beneficiary Owner (BO) account to trade at the
exchange.
DEPOSITORY
The organization responsible to maintain investor’s securities in the electronic form is
called the depository. In other words, a depository can therefore be conceived of as a
bank for securities. In India there are two such organization viz. NSDL and CDSL. The
depository concept is similar to the banking system with the exception that the banks
handle funds whereas a depository handles securities of the investors. An investor
wishing to utilize the services offered by a depository has to open an account with the
depository through a depository participant.
Depository participant
The market intermediary through whom the depository services can be availed by the
investor is called the depository participant (DP). As per SEBI regulations, DP could be
organizations involved in the business of providing financial services like banks,
brokers, custodians and financial institutions. This system of using the existing
distribution channel (mainly constituting DPs) helps the depository to reach a wide cross
section of investors spread across a large, geographical area at the minimum cost. The
admission of the DPs involves detailed evaluation by the depository of their capability to
meet with the strict service standards and a further evaluation and approval from SEBI.
Realizing the potential, all the custodians in India and a number of banks, financial
institutions and major brokers have already jointed as DPs to provide services in a
number of cities.
ADVANTAGES OF DEPOSITORY SERVICES:
Trading in demat segment completely eliminates the risk of bad deliveries. In case of
transfer of electronic shares you save 0.5% in stamp duty. Avoids the cost of
Courier/notarization/the need for further follow up with your broker shares returned for
company objection no loss of certificates in transit and saves substantial expenses
involved in obtaining duplicate certificates, when the original share certificates become
misplaced.
Increasing liquidity of securities due to immediate transfer and registration. Reduction in
brokerage for trading in dematerialized shares, Receive bonuses and rights into the
depository account as a direct, thus eliminating risk of loss in transit. Lower interest
charges for loans taken against Demat shares as compared to the interest for loans
against physical shares. RBI has increased the limit of loans against physical securities.
Fill up the account opening form, which is available with DP. Sign the DP client
agreement, which defines the rights and duties for the DP and the person wishing to
open the account, receive your client account number (client ID). This client id along
with you DP id gives you an unique identification in the depository system. Fill up a
dematerialization request form, which is available with your DP, submit your share
certificates along with the form, (write “surrendered for demat” on the face of the
certificate before submitting it for demat). Receive credit for the dematerialized shares
into your account within 15 days.
PROCEDURE OF DEMAT ACCOUNT OPENING
Opening a depository account is as simple as opening a bank account.
You can open a depository account with any DP convenient to you by following these
steps:
Fill up the account opening form, which is available with the DP.
Sign the DP client agreement, which defines the rights and duties of the DP and
the person wishing to open the account.
Receive your client account number (client ID).This client ID along with your DP
Id gives you a unique identification in the depository system.
There is no restriction on the number of depository accounts you can open. However
if your existing physical shares are in names, be sure to open the account in the
same order of names before you submit your share certificates for demat.
FORMALITIES TO BE FULFILLED WHILE OPENING A DEMATS ACCOUNT AND
TRADING ACCOUNT:
Application form duly completed and signed by all participants.
Agreement, duly signed by all participants.
Two photographs of each applicant.
One cheque
Proof of identity and PAN card
Bank paas book
Benefits Of Demat Account
1. A safe and convenient way of holding securities (equity and debt instruments
both).
2. Transactions involving physical securities are costlier than those involving
dematerialised securities (just like the transactions through a bank teller are
costlier than ATM transactions). Therefore, charges applicable to an investor are
lesser for each transaction.
3. Securities can be transferred at an instruction immediately.
4. Increased liquidity, as securities can be sold at any time during the trading hours
(between 9:55 AM to 3:30 PM on all working days), and payment can be received
in a very short period of time.
5. No stamp duty charges.
6. Risks like forgery, thefts, bad delivery, delays in transfer etc, associated with
physical certificates, are eliminated.
7. Pledging of securities in a short period of time.
8. Reduced paper work and transaction cost.
9. Odd-lot shares can also be traded (can be even 1 share).
10.Nomination facility available.
11.Any change in address or bank account details can be electronically intimated to
all companies in which investor holds any securities, without having to inform
each of them separately.
12.Securities are transferred by the DP itself, so no need to correspond with the
companies.
13.Shares arising out of bonus, split, consolidation, merger etc. are automatically
credited into the demat account of the investor.
14.Shares allotted in public issues are directly credited into demat account of the
applicants in quick time.
RBI has also reduced the minimum margin to 25% for loans against dematerialized
securities as against 50% for loams against physical securities.
S.
No.
Basis Of
DifferentiationBank Account Demat Account
1.Form of
Holdings/Deposits Funds Securities
2. Used for Safekeeping of money Safekeeping of shares
3. Facilitates Transfer of money (without
actually handling money)
Transfer of shares (without
actually handling shares)
4. Where to open A bank of choiceA DP of choice (can be a
bank)
5.Requirement of
PAN NumberNot Mandatory
Mandatory (effective from
April 01, 2006)
6.Interest accrual on
holdings
Interest income is subject to
the applicable rate of
interest
No interest accruals on
securities held in demat
account
7.Minimum balance
requirement
AQB* maintainance is
specified for certain bank
accounts
No such requirement
8.Either or Survivor
facilityAvailable Not available
*AQB - Average Quarterly Balance
S.
No.
BASIS OF
SIMILARITY PARTICULARS
1.Security and
Convenience
Both are very safe and convenient means of holding
deposits/securities
2. Number of accountsNo legal barrier on the number of bank or demat
accounts that can be opened
3.Transfer of deposits
(funds or securities)
Funds/securities are transferred only at the
instruction of the account holder
4.Physical transfer of
money/securitiesPhysical transfer of money/securities is not involved
5. Nomination Facility Available
Dematerialisation Process
An investor having securities in physical form must get them dematerialised, if he
intends to sell them. This requires the investor to fill a Demat Request Form (DRF)
which is available with every DP and submit the same along with the physical
certificates. Every security has an ISIN (International Securities Identification Number).
If there is more than one security than the equal number of DRFs has to be filled in. The
whole process goes on in the following manner:
Fig 2.1
REMATERIALISATION
The process of getting the securities in an electronic form, converted back into the
physical form is known as Rematerialisation. An investor can rematerialise his shares
by filling in a Remat Request Form (RRF). The whole process goes on as follows:
CHAPTER 3
STUDY AND ANALYSIS OF
SERVICES PROVIDED BY
RELIGARE AND OTHER
BROKERAGE HOUSES
ANGEL BROKING Ltd.
Angel Booking’s 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.
Products and services of Angel Broking:
● Online Trading
● Commodities
● DP Services
● PMS (Portfolio Management Services)
● Insurance
● IPO Advisory
● Mutual Fund
● Personal loans
● Quality Assurance
RELIANCE MONEY
Reliance Money, a Reliance Capital company and part of the Reliance Anil Dhirubhai
Ambani Group is a comprehensive financial services and solution provider. It is a one-
stop-shop, providing end-to-end financial solutions (including mobile and web-based
services). It has the largest non-banking distribution channel with over 10,000 outlets
and 20,000 touch points spread across 5,165 cities/ towns; catering to the diverse
needs of over 3 million existing customers.
Services and product of reliance money
It provides customers with access to Equity, Equity and Commodity Derivatives,
Offshore Investments, Portfolio Management Services, Wealth Management Services,
Investment Banking, Mutual Funds, IPOs, Life and General Insurance products and
Gold Coins. Customers can also avail Loans, Credit Card, Money Transfer and Money
Changing services.
ICICI DIRECT
ICICI Web Trade Limited (IWTL) maintains www.icicidirect.com (herein after referred to
as the "Website") whereas IWTL is an affiliate of ICICI Bank Limited and the Website is
owned by ICICI Bank Limited. IWTL has launched and established an online trading
service on the Website.
Products and Services of ICICI DIRECT
● Investing in Mutual funds
● Personal Finance
● Customer Service Features
● IPO’s
● Margin Trading
● Margin PLUS Trading
● Call Trade
● Trading on NSE/BSE
● Trade in derivatives
India Infoline Security Private Ltd.
India Infoline.com Securities Pvt. Ltd. is a wholly owned subsidiary of India Infoline.com
Ltd and is the stock broking arm of India Infoline.com. The subsidiary was formed to
comply with regulatory guidelines. www.5paisa.com is a focused website for online
stock market trading. 5paisa.com is a trade name owned by the India Infoline.com
group. IILSPL has applied for trading membership of the BSE under Securities and
Exchange Board of India (Stock Brokers and Sub-Brokers) Rules 1992.
Product offered by IILSPL
Stock market:-IILSPL deals in stock market by trading in equity and derivatives.
Personal finance: - It Deals In Mutual Fund and Insurance.
Online Trading: - It provides services in stock and commodity trading (through
Internet).
SMC SECURITIES
SMC Group, a leading financial services provider in India is a vertically integrated
investment solutions company, with a pan-india presence. Over the Years, SMC has
expanded its domestic & international operations. Existing network includes regional
offices at Mumbai, Kolkata, Chennai, Bangalore, Cochin, Ahmedabad, Jaipur,
Hyderabad and 1500+ offices across 375+ cities in India. SMC has plans to grow its
network to 2,000 offices across 500+ cities in the next 3 years. The company has
expanded internationally, and has established office in Dubai Gold and Commodities
Exchange (DGCX).
SERVICES AND PRODUCT OF SMC
Its products and Services include Institutional and retail brokerage of equity, commodity,
currency,derivatives,online trading , investment banking, depository services, clearing
services, IPOs and mutual funds distribution, Portfolio management, wealth
advisory,insurance broking,equity and commodity research.
HDFC SECURITY
HDFC security is the subsidiary of HDFC (Housing Development Financial
Corporation). www.hdfcsec.com would have an exclusive discretion to decide the
customers who would be entitled to its online investing services. www.hdfcsec.com also
reserves the right to decide on the criteria based on which customers would be chosen
to participate in these services .The present web site (www.hdfcsec.com) contains
features of services that they offer/propose to offer in due course. The launch of new
services is subject to the clearance of the regulators.
Product offered by HDFC Security
● Online trading for Resident & Non Resident Indians.
● Day trading on both NSE and BSE.
● Trade on Futures & Options on the NSE.
● Online IPO's.
● Telephone-based Broking (Equity & Derivatives).
INDIABULLS SECURITIES LIMITED
Indiabulls Securities Limited was incorporated as GPF Securities Private Limited on
June 9, 1995. The name of the company was changed to Orbis Securities Private
Limited on December 15, 1995 to change the profile of the company and subsequently
due to the conversion of the company into a public limited company; the name was
further changed to Orbis Securities Limited on January 5, 2004. The name of the
company was again changed to Indiabulls Securities Limited on February 16, 2004 so
as to capitalize on the brand image of the term “Indiabulls” in the company name. ISL is
a corporate member of capital market & derivative segment of The National Stock
Exchange of India Ltd.
PRODUCT OFFERED BY INDIA BULLS
● Equity & Debt Stock Broking
● Insurance
● Commodity trading
● Depository Services
● Derivatives Broking Services
● Equity Research Services
● Mutual Fund Distribution
● IPO Distribution
SHAREKHAN SECURITIES
Sharekhan Securities is one of the leading retail brokerage of Citi Venture which is
running successfully since 1922 in the country. Earlier it was the retail broking arm of
the Mumbai-based SSKI Group, which has over eight decades of experience in the
stock broking business. Sharekhan offers its customers a wide range of equity related
services including trade execution on BSE, NSE, Derivatives, depository services,
online trading, investment advice etc.
Product and services of Sharekhan
● Equity Trading Platform (Online/Offline).
● Commodities Trading Platform (Online/Offline).
● Portfolio Management Service.
● Mutual Fund Advisory and Distribution.
● Insurance
CHAPTER 4
DATA COLLECTION
AND RESEARCH
METHODOLOGY
RESEARCH METHODOLOGY
Research can be defined as systemized effort to gain new knowledge. A research is
carried out by different methodologies which have their own pros and cons. Research
methodology is a way to solve research in studying and solving research problem along
with logic behind them are defined through research methodology. Thus while talking
about research methodology we are not only talking of research methods but also
considered the logic behind the methods. We are in context of our research studies and
explain why it is being used a particular method or technique and why the others are not
used. So that research result is capable of being evaluated either by researcher himself
or by others
Research has its special significance in solving various operational and planning
problems of business and industry. Research methodology is the way to systematically
solve the research problem.
Execution of the project: -
It is the very important step in the research process accuracy findings depends on how
systematically the study has been carried out in time so that it can make some sense
when required. I have executed the project after prior discussion with the guide and
structured in following steps:
a. Preparation of questionnaire.
b. Collection of list of some of the broking houses so that more interaction is
possible and the variety of responses can be registered to have a good data
for analysis.
c. Visiting and asking about their feedback on the financial services like share
broking, mutual fund, etc.
1. Data requirements --
a. Name, address and phone number of individual broking houses
b. Services provided by broking houses
2. Primary data –
a. Primary data has been collected by conducting Personal interview of the
respondents.
b. Data collected through the questionnaire.
3. Secondary data –
a. Data collected official website of Religare securities ltd..
b. Data collected by referring to the database already maintained in the company.
4. Data Collection Instruments:-
1. Questionnaire
2.Telephonic communication.
3. E-mail.
Sample:-
A finite subset of population, selected from it with the objective of investigating
its properties called a sample. A sample is a representative part of the
population. A sample of 11 respondents in total has been randomly selected.
The response to various elements under each questions were totaled for the
purpose of various statistical testing.
Presentation of Data.
The data are presented through charts and tables.
Tools and Techniques for Analysis.
MS EXCEL is used to for analysis and interpretation of data
Limitations of study
Time and Cost – The time and cost play an important role where one goes for a
particular study. Both of these factors become constraints especially when a
study is conducted at academic level.
Sample Size – Due to time and cost constraints the large sample was not taken.
Since the study conducted was with a small sample hence the exact picture
cannot be revealed and the findings cannot be generalized.
Choice of Population - The population selected was limited to the places in UT.
Hence results would have altered if some other population had been selected.
Inherent Discrepancies in the Questionnaire - The questionnaire might be
having some undetectable errors and limitations, which could shape the
responses into a particular fashion. No pre-test was done before the circulation of
the questionnaire.
Bias in Response - The data is entirely based on responses given by
respondents which may be biased one due to their personal bias in replying the
questions. They may not be very serious or interested in replying the questions
and make it very lightly, due to which data may not be very accurate.
CHAPTER 5
ANALYSIS AND
INTERPRETATION
Major Players in the Region
● Religare Securities
● ICICI Direct
● India Infoline Security Pvt. Ltd.
● HDFC Securities
● India bulls
● Kotak Securities
● Reliance Money
● Share khan Securities
● SMC securities ltd.
● Anand Rathi Securities
● Angel Broking
Services
Mut
ual
Fun
d
Insu
ranc
e
PM
S
Bac
k of
fice
E-B
roki
ng
Inve
stm
ent
Adv
isor
y
M-C
onne
ct
Fun
ding
Per
sona
l
Loa
ns
Sof
twar
e
Religare
SecuritiesYes Yes Yes Yes Yes Yes Yes Yes Yes Yes
ICICI Direct No Yes Yes Yes Yes Yes No Yes Yes Yes
India Infoline
Security Pvt.
Ltd.
Yes No Yes Yes Yes Yes No No Yes Yes
HDFC
SecuritiesYes No Yes Yes Yes Yes No Yes Yes Yes
Indiabulls Yes Yes No Yes Yes Yes No No Yes Yes
Kotak
SecuritiesYes Yes Yes Yes Yes Yes No No Yes Yes
Reliance
MoneyYes Yes No Yes Yes Yes Yes No Yes Yes
Sharekhan
SecuritiesNo No Yes Yes Yes Yes No No Yes Yes
SMC
securities ltdNo Yes No Yes Yes Yes No No Yes Yes
Anand Rathi
SecuritiesNo Yes Yes Yes Yes Yes No No No Yes
Angel Broking
ltd.No Yes Yes Yes Yes Yes No No Yes Yes
i). Have you heard about Religare?
1st Qtr
2nd Qtr
Interpretation:-
The graphical representation fig. shows the percentage known about Religare. In above
graph maximum number of people know about the Religare i.e. 90%. 10% people do’nt
about religare.
Yes No
90% 10%
ii). In which profession are you engaged in?
Businessman Services Pensioner Entrepreneur
60 10 10 20
BusinessmanServicesPensionerEnterpreneur
Interpretation:-
The above graphical representation shows about the profession of investors.60% of
investors are businessman and 10% are services and pensioners and remaining 20%
are entrepreneurs.
iii). Do you know about the services provided by Religare?
Yes No
90 10
1st Qtr2nd Qtr
Interpretation:-
The above graphical representation shows about the services provided by Religare. The
maximum percentage of investors replied in yes i.e. 90%. 10% of investors replies in no.
iv). In which of these financial instruments do you invest in to?
Only share Mutual funds Bonds Derivatives
80% 17% 2% 1%
Only shareMutual fundsBonds derivatives
Interpretation: This shows that although the mutual funds market is on the rise yet, the most
favored investment continues to be in the Share Market. So, with a more transparent system,
investment in the Stock Market can definitely be increased.
v). What according to you in your risk level?
High Low Moderate Risk free0
10
20
30
40
50
60
Series 1
Interpretation:-
The above graphical representation shows that most investors prefers high risk for high
return. And few people invest in risk free securities.
vi). What type of trading do you prefer?
Interaday Delivery Both
53% 24% 23%
Interaday Delivery Both 0%
10%
20%
30%
40%
50%
60%
Series1
Interpretation:
The above diagram shows that the 53% investor makes trading intraday and the
delivery is less then intraday.
vii). How much return get after investing?
Up to 10% Up to 25% Up to 50% Up to 50%
71% 19% 7% 3%
Up to 10% Up to 25%
Up to 50% Up to 50%
Interpretation:
This shows that people invest only up to 10% of their earnings in the stock market,
again reiterating the volatile and non-transparent structure of the Indian stock market.
Hence, effective and efficient steps should be undertaken to woo the customers to
invest more in the lucrative stock market.
viii). Which mode of trading you prefer?
Online Offline
72 28
1st Qtr2nd Qtr
Interpretation:-
The above graphical representation shows the percentage of trading that investors
prefer. The maximum number of investors prefer online trading i.e 72% and 28% of
investors prefer offline trading.
ix. ) Are you satisfied with the services provided by Religare?
YesNo
Interpretation:
This pie chart accentuates the fact that Strategic marketing, today, has gone beyond
only meeting Sales targets and generating profit volumes. It shows that all the
competitors are striving hard not only to woo the customers but also to make them
Brand loyal by generating customer satisfaction.
Yes No
90% 10%
x)You know about trade in Currency Derivatives?
Yes No
30% 70%
Interpretation:-
in currency Derivatives. The maximum number of investors replied in ‘No’ i.e. 70% and
few investors replied in ‘Yes’ i.e. 30%.
xi) With which company do you have your DEMAT account?
Religare ICICI direct Kotak Mahindra India bulls Others
19% 31% 7% 17% 26%
Religare ICICI direct Kotak Mahindra India bulls Others 0%
5%
10%
15%
20%
25%
30%
35%
Series1
Interpretaion:
Above table shows that icici direct is mostly preferred it is clear from above table
31% customers prefer icic direct to make demat account. Religare is also not bad
and it has also 19% people.
xii) Do you intend to switch to some other services provider in near future?
YesNo
Interpreation: This chart indicates that 94% investors do not want to quit from
the ‘religare.
Yes No
6% 94%
xiii) Do you intend to switch to Religare in near future?
Yes 76
No 24
Yes No
Interpretation:
76% of people intend to switch to the religare to invest in securities and financial
services. 24% people says no. they will prefer other company.
Findings
1. As per our analysis awareness regarding share trading and online method of
trading is increasing among investors day by day.
2. Investor are more in the 1 year period and continuosly the investors are
decresing due to market risk in long term investment.
3. More of investors says that they would like to prefer invest money in
shares. Only few investors want to invest in mutual funds.
4. Maximum investors prefer intraday trading.
5. Very less investors say that they invest most part of their total Income in
securities.
6. 31% investors have demat account with ICICI Direct because ICICI Direct
is an established brand. Only 19% people have demat account with Religare
but it is increasing day by day.
7. Maximum investors know about the services provided by the Religare.
8. Maximum investors are satisfied with the services provided by religare.
9. Most of investors do not want to switch to other service provider in near
future. they want to be with Religare.
10 Mostly investors are aware about service provided by the share trading
company.
11. 72% investors are satisfied with the services of their share trading company.
12. 76% people are interested to invest in Religare securities which are not
currenly investing their money in Religare security services. It’s a good indication
for Religare.
Recommendation
Religare should increase the promotional activities to make people aware
about the company.
Religare should launch various schemes in different areas.
Religare should make the customers it should effort to reatin the customers
for long time.
It should build a storng and good relationship with other market and
financial service companies.
Religare should obey the rules and regulations as made by the government
and other regulatory bodies.
They should give concession to those investors who invest more money in
securities.
Dollar and euro are new segments in trading but most of the investors are
not aware about the trading in dollar and euro.
Investors are afraid of higher risk in so Religare should try to convince the
investors.
Conclusion
We can conclude from the above questionnaire that Religare are best in providing
services securities. Their market share is improving day by day. Their closest rival
is ICICI, whose market share is more than Religare due to the fact that they are in
indian market much earlier than Religare. It is aslo concluded that religare has
more opportunity in indian market in share trading as india is growing economy
and investors are also interested in making huge investments in securities for
higher return. Investors are well known to the services provided by different
financial companies and religare should try to penetrate.. and religare is providing
good services as compare to other competitors and it is growing day by day.
BIBLOGRAPHY
INTERNET:
www.google.co.in
www.religare.com
www.wikipedia.com
BOOKS:
Financial investment in securities by prasanna Chandra
Financial Management by Sharpe
APPENDINCES
QUESTIONNAIRE
Date _ _ /_ _ /_ _
i). Have you heard about Religare?
Yes No
ii). In which profession are you engaged in?
Businessman Services
Worker Entrepreneur
iii). Do you know about the services provided by Religare?
Yes No
iv) In which of these Financial Instruments do you invest into?
Shares Mutual Funds Bonds Derivatives
v). What according to you in your risk level?
Highly risky Average
Moderate Risk free
vi) What type of trading do you prefer?
Intraday Delivery Both
vii). How much return get after investing?
>5% 5-10%
10-15% 15-20%
viii). Which mode of trading you prefer?
Online trading offline
a) All of the above
ix). Are you satisfied with the services provided by religare?
Yes No
x). How much you trade In stock market?
10000-50000 50000-100000
100000-150000 above 150000
xi).You know about trade in Currency?
Yes No
xii). Which mode of trading you prefer?
Online trading offline
xiii). With which company do you have your DEMAT account?
Religare ICICI Direct Kotak Mahindra India Bulls
xiv). Do you intend to switch to Religare in near future?
Yes No