Comparative Analysis of services provided by Religare

Securities Ltd. and other Broking Houses in Noida

Submitted in partial fulfilment of the requirements

For the award of the degree of

Master of Business Administration

In
Software Enterprise Management

Under the guidance of

Corporate Guide: - Faculty Guide: -

Mr. Shachin kumar sharma Ms. Mary Jacintha

(Branch Manager) (CDAC-Noida)

Submitted by
Nirmal Kumar Lakhera

1
 Centre for Development of Advanced Computing, Noida

Affiliated to

Guru Gobind Singh Indraprastha University

Kashmere Gate, Delhi - 110006

DECLARATION

I hereby declare that this Project Report entitled ‘comparative analysis of services provided
by religare and other broking house in noida’ submitted by me to the GGSIPU Delhi, is a
bonafide work undertaken by me and it is not submitted to any other University or Institution
for the award of any degree diploma / certificate or published any time before.

Name: ________________________ ___________________________

Signature of the Student

Enrollment No: _________________

Semester: ______________________

Date: _________________________

2
 Project Report Approval Sheet

It is certified that the Project entitled ‘comparative analysis of services provided by religare

and other broking house in noida’ was completed by Mr. Nirmal Kumar Lakhera under

my guidance during the period i.e. 1st June to 31th July. The same is hereby approved.

Mr. Sachin kumar sharma

Branch Head

Religare securities Ltd.

3
 ABSTRACT

Aim of the project

“A good broker system must be able to cope with an extremely complex and
dynamic environment.”

Microstructure of the stock market in which brokers work is highly dynamic and volatile.
Many stocks are available to be bought and sold, each exhibiting its own patterns and
characteristics that are highly unpredictable. With so many options and considerations that
need to be taken into account, it is an extremely arduous task for a broker to investigate
aspects of the stock market and consistently provide effective advice to their clients. Thus,
brokers perform their day-to-day tasks with the aid of a broker system. Such a system should
provide tools for interacting with exchanges and performing analysis. As a consequence,
these broker systems are quite large and complicated by themselves This research aims is to
analysis Stock broker on the basis of their services, products, growth, and their subsidiaries.
Because Stockbrokers are one of the main participants in stock exchanges worldwide, they
often act as an agent for their clients, making trades on their behalf. They also act as advisors,
providing suggestions to their clients on what stocks to buy and sell.

My role in the project will encompass the following:

1. Study basics of Investment

2. Study and Analysis of services provided religare securities ltd.

3. Study and analysis of services provided by other broking house in noida.

4. Comparison of services provided by religare and other broking houses in noida

5. Study about the cross selling of demat account.

4
 6. Concluding and recommending procedures to improve upon the trading options.

ACKNOWLEGDEMENT

It gives me pleasure to present this project report, which is an outcome of the study
“Comparative research analysis of the services provided by Religare securities Ltd. with
other broking houses”.

Completing a task is a never a one-man effort. It is often the result of valuable

contribution of a number of individuals in a direct or indirect manner that helps on
shaping and achieving an objective.

I wish to express my sincere gratitude to innumerable number of people who have been
associated with me throughout this project. I feel blessed to have the opportunity of
expressing my hearty gratitude to the following personalities, without the help of whom my
project could not have been hatched.

Source of firstly I would like to acknowledge my sincere thanks to Mr. Sachin kumar sharma
(Branch Head) who gave me an opportunity to carry out this project and had been a constant
inspiration.

I am grateful to my faculty guide Ms.Mary jachinta for the Summer Internship Project, for
their regular guidance without which my project report would not have been completed.

I am also thankful to the other staff member of Religare securities ltd. for their continuous
motivation throughout this program, which really helped me in completing this project.

I also like to thank our Head Dr. R.K.Singh, who promoted us to do our Summer Internship
Program with Religare Securities Ltd. I also like to thank all our faculties who have taught us
and have shared their experience with us which has helped us in doing our project.

5
 TABLE OF CONTENTS

PARTICULARS PAGE NUMBER

I CHAPTER-1 INTRODUCTION TO RELIGARE 10-20

1.1 ABOUT THE COMPANY 10

1.2 VISION AND MISSION 11

1.3 GROUP STRUCTURE 12

1.4 JOINT VENTURE 13

1.5 MANAGEMENT TEAM 14

1.6 ORGANIZATION STRUCTURE 15

1.7 SERVICES 16

1.8 BENEFITS OF RELIGARE 18

1.9 SIGNIFICANCE OF STUDY 20

1.10 OBJECTIVE OF THE STUDY 20

1.11 SCOPE OF STUDY 20

II CHAPTER-2 THEORETICAL FRAMEWORK AND 22-34

REVIEW OF LITERATURE

2.1 INDIAN STOCK MARKET 22

2.2 INVESTMENT BASICS 26

2.3 INTRODUCTION OF DEMATE ACCOUNT 27

6
 2.4 HOW TO INVEST IN STOCK MARKET 30

2.5 TIPS FOR BEGINNERS IN STOCK MARKET 31

2.6 DEMATERIALISATION 31
2.7 RMATERIALISATION 34

III CHAPTER-3 COMPARATIVE ANALYSIS OF SEVICES 36-44

PROVIDED BY RELIGARE AND OTHER BROKING
HOUSES IN NOIDA

3.1 STUDY OF BROKING HOUSE IN NOIDA 37

3.2 MY RESPONSIBILTY IN ORGANIZATION 42
IV CHAPTER-4 DATA COLLECTION AND 42-49
RESEARCH METHODOLOGY
V CHAPTER-5 ANALYSIS AND INTERPRETATION 49-56
VI CHAPTER-6 CONCLUSION 58

VII CHAPTER-7 RECOMMNDATIONS 59

VIII ANNEXURE 60

IX BIBLOIGRAPHY 63

LIST OF TABLES

LIST OF FIGURES
TABLE PAGE NUMBERS
2.1 Difference between bank account and demat account 28
FIGURES PAGE NUMBERS
2.2 Similarity between bank account and demat account 28
1.1 Structure of company 15
1.2 5.1&5.2 Comparative study of broking houses
Logos of organization 51-52
20

2.1 Dematerialisation process 32

2.2 Rematerialisation process 34

3.1 Constructive factor of tale calling 42

3.2 Balanced portfolio 50
3.3 Conservative portfolio 50

5.1 Market share study 53

5.2 Interaday brokerage chart 54

7
5.3 Delivery charges chart 55

5.4 Account opening charges chart 56

 EXECUTIVE SUMMARY

The project titled “ comparative study of services provided by Religare securities ltd and
other broking houses in noida” has been carried out for “Religare securities limited.”

There is growing competition between brokerage firms in post reform India. For investor it is
always difficult to decide which brokerage firm to choose.

Research was carried out to find which brokerage house people prefer and to figure out what
people prefer while investing in stock market.

This study suggest that people are reluctant while investing in stock and commodity market
due to lack of knowledge

8
Main purpose of investment is returns and liquidity, commodity market is less preferred by
investors due to lack of awareness. The major findings of this study are that people are
interested to invest in stock market but they lack knowledge.

Through this report we were also able to understand, what are our Company’s (Religare
securities Ltd.) positive and strong points, on the basis of which we come to know what can
be the basis of pitching to a potential client. We also gave suggestions to the company, what
improvement can be done to our product.

I hope Religare securities Ltd. will recognize this as well as take more references from this
project report.

9
 Chapter – 1

Introduction to Religare

1. INTRODUCTION

10
1.1 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.

SYMBOL

The Religare name is paired with the symbol of a four-leaf clover. Traditionally,
it is considered good fortune to find a four-leaf clover as there is only one four-leaf clover for
every 10,000 three-leaf clovers found.

For us, each leaf of the clover has a special meaning. It is a symbol of Hope. Trust. Care.
Good Fortune.

For the world, it is the symbol 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 foundation
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

11
 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.

Accent usage

The diacritical tilde mark ( ˜ ) over the letter A in the Religare typeface indicates a palatal
emphasis sound of the letter A.

1.2 Vision and mission

Vision - To build Religare as a globally trusted brand in the financial services domain and
present it as the ‘Investment Gateway of India'.

Mission - Providing complete financial care driven by the core values of diligence and
transparency

1.3 Group structure:

Religare Enterprises Limited

Religare Securities Limited Religare Finvest Limited

• Equity Broking Lending and Distribution business
• Online Investment Portal Proposed Custodial business

12
 • Portfolio Management Services
• Depository Services Religare Insurance Broking Limited
Religare Commodities Limited • Life Insurance
• Commodity Broking • General Insurance
• Reinsurance
Religare Capital Markets Limited
• Investment Banking Religare Arts Initiative Limited
• Proposed Institutional Broking • Business of Art
• Gallery launched - arts-i
Religare Realty Limited
In house Real Estate Management Company Religare Venture Capital Limited
Private Equity and Investment Manager
Religare Hichens Harrison**
• Corporate Broking Religare Asset Management*
• Institutional Broking
• 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)

13
 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/

1.5 Religare management team:-

Central Leadership Team

• Mr. Sunil Godhwani

CEO & Managing Director, Religare Enterprises Limited
• Mr. Shachindra Nath
Group Chief Operating Officer, Religare Enterprises Limited
• Mr. Anil Saxena
Group Chief Finance Officer, Religare Enterprises Limited

Board of Directors - Religare Enterprises Limited

14
 • Mr. Malvinder Mohan Singh
Non Executive Chairman
• Mr. Sunil Godhwani
Managing Director & Group CEO
• Mr. Shivinder Mohan Singh
Non Executive Director
• Mr. Harpal Singh
Non Executive Director
• Mr. Deepak Ramchand Sabnani
Independent Director
• Mr. Padam Bahl
Independent Director
• Mr. J. W. Balani
Independent Director
• Ms. Sunita Naidoo
Independent Director
• Mr. R. K. Shetty
Alternate to Mr. J. W. Balani
• Capt. G. P. S. Bhalla
Alternate to Mr. Deepak Sabnani

1.6 OUR ORGANIZATIONAL STRUCTURE

15
 Fig1.1

1.7 Religare securities ltd services:

The services provided by Religare securities Ltd are

E-Broking

16
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.

17
 ● 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

18
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.

19
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.

OUR LOGOS

Logo Logo

Fig 1.2

1.9 Significance of Study

20
 In most industrialized countries, a substantial part of financial wealth is not managed
directly by savers, but through a financial intermediary, which implies the existence of an
agency contract between the investor (the principal) and a broker or portfolio manager (the
agent). Therefore, delegated brokerage management is arguably one of the most important
agency relationships intervening in the economy, with a possible impact on financial market
and economic developments at a macro level.

1.10 Objective of the Study

The project includes a detail study of portfolio management in share market.

The following are the main objective of the project

1. Study of the basics of Indian stock market

2. Study and Analysis of services provided religare securities ltd.

3. Study and analysis of services provided by other broking house in noida.

4. Comparison of services provided by religare and other broking houses in noida

5. Study about the cross selling of demat account.

6. Concluding and recommending procedures to improve upon the trading options.

1.11 Scope of Study

In most of the metros, people like to put their money in stock options instead of
dumping it in the bank-lockers. Now, this trend pick pace in small but fast developing cities
like Chandigarh, Gurgaon, Jaipur, Noida etc. My research is based on the Noida region.

As the per-capita-income of the city is on the higher side, so it is quite obvious that
they want to invest their money in profitable ventures. On the other hand, a number of
brokerage houses make sure the hassle free investment in stocks. Asset management firms
allow investors to estimate both the expected risks and returns, as measured statistically.

21
 Chapter – 2

Theoretical Framework
and Review of Literature

22
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:

23
 ● 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.

24
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

25
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 ‘Equity’/Share

Total equity capital of a company is divided into equal units of small denominations, each
called a share. The holders of such shares are members of the company and have voting
rights.

What is an Index?

An Index shows how a specified portfolio of share prices is moving in order to give an
indication of market trends. It is a basket of securities and the average price movement of the
basket of securities indicates the index movement, whether upwards or downwards.

How to calculate the index?

The Sensex value is this value relative to a base period. The Base period is 1978-79 and the
Base value is 100. The Free-float market Cap is divided by a number called the index divisor
to arrive at the right value of Sensex. This divisor factors in changes in scrips, dividend paid,
etc right from the base period. A simple way to find the current index divisor would be
calculating the previous day's free-float market cap / previous day's sensex.

Here's an example to calculate the sensex

26
Free Float Market cap (prev day) = 320000 cr
Sensex Value = 16000
Div = 320000 / 16000 = 20

Current Free Float Market Cap = 336000

Current Sensex Value = 336000/20 = 16800

2.2 INVESTMENT BASICS

What are various options available for investment?

One may invest in:

Physical assets like real estate, gold/jewellery, commodities etc.

Financial assets such as fixed deposits with banks, small saving instruments with
post offices, insurance/provident/pension fund etc. or securities market related
instruments like shares, bonds, debentures etc.

What are various Short-term financial options available for investment?

Broadly speaking, savings bank account, money market/liquid funds and fixed deposits with
banks may be considered as short-term financial investment options:

Savings Bank Account

It is often the first banking product people use, which offers low interest (4%-
5% p.a.), making them only marginally better than fixed deposits.

Money Market or Liquid Funds

These are a specialized form of mutual funds that invest in extremely short-
term fixed income instruments and thereby provide easy liquidity. Unlike most
mutual funds, money market funds are primarily oriented towards protecting your
capital and then, aim to maximize returns

Fixed Deposits with Banks

These are also referred to as term deposits and minimum investment period
for bank FDs is 30 days. Fixed Deposits with banks are for investors with low risk
appetite, and may be considered for 6-12 months investment period as normally

27
What are various Long-term financial options available for investment?
Post Office Savings Schemes, Public Provident Fund, Company Fixed Deposits, Bonds and
Debentures, Mutual Funds etc.

Post Office Savings:

Post Office Monthly Income Scheme is a low risk saving instrument, which
can be availed through any post office.

Public Provident Fund:

A long term savings instrument with a maturity of 15 years and interest

payable at 8% per annum compounded annually. A PPF account can be opened
through a nationalized bank at anytime during the year and is open all through the
year for depositing money. Tax benefits can be availed for the amount invested and
interest accrued is tax-free. A withdrawal is permissible every year from the seventh
financial year of the date of opening of the account and the amount of withdrawal will
be limited to 50% of the balance at credit at the end of the 4th year immediately
preceding the year in which the amount is withdrawn or at the end of the preceding
year whichever is lower the amount of loan if any.

Company Fixed Deposits:

These are short-term (six months) to medium-term (three to five years)

borrowings by companies at a fixed rate of interest which is payable monthly,
quarterly, semi10 annually or annually. They can also be cumulative fixed deposits
where the entire principal along with the interest is paid at the end of the loan period.

Bonds:

It is a fixed income (debt) instrument issued for a period of more than one
year with the purpose of raising capital. The central or state government, corporations
and similar institutions sell bonds. A bond is generally a promise to repay the
principal along with a fixed rate of interest on a specified date, called the Maturity
Date.

Mutual Funds:

These are funds operated by an investment company which raises money from
the public and invests in a group of assets (shares, debentures etc.), in accordance
with a stated set of objectives. It is a substitute for those who are unable to invest
directly in equities or debt because of resource, time or knowledge constraints

28
2.3 Introduction to Demat account

Definition
Demat account is a safe and convenient means of holding securities just like a bank account
is for funds. Today, practically 99.9% settlement (of shares) takes place on demat mode only.
Thus, it is advisable to have a Beneficiary Owner (BO) account to trade at the exchanges.

Bank Account Vs Demat Account

Basis Of
S.
Differentiatio Bank Account Demat Account
No.
n

Form of
1. Holdings/Dep Funds Securities
osits

2. Used for Safekeeping of money Safekeeping of shares

Transfer of money Transfer of shares

3. Facilitates (without actually (without actually
handling money) handling shares)

Where to A DP of choice (can be

4. A bank of choice
open a bank)

Requirement
Mandatory (effective
5. of PAN Not Mandatory
from April 01, 2006)
Number

Interest income is
Interest No interest accruals on
subject to the
6. accrual on securities held in demat
applicable rate of
holdings account
interest

Minimum AQB* maintainance is

7. balance specified for certain No such requirement
requirement bank accounts

Either or
8. Survivor Available Not available
facility

*AQB - Average Quarterly Balance

Table 2.1

29
 S. BASIS OF
PARTICULARS
No. SIMILARITY

Security and Both are very safe and convenient means of

1.
Convenience holding deposits/securities

Number of No legal barrier on the number of bank or

2.
accounts demat accounts that can be opened

Transfer of
Funds/securities are transferred only at the
3. deposits (funds or
instruction of the account holder
securities)

Physical transfer
Physical transfer of money/securities is not
4. of
involved
money/securities

Nomination
5. Available
Facility

Table 2.2

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.

30
 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.

2.4 How to invest in stock market?

Opening a Demat Account
To start dealing in securities in electronic form, one needs to open a demat account with a DP
of his choice. An investor already having shares in physical form should ensure that he gets
the account opened in the same set of names as appearing on the share certificate; otherwise a
new account can be opened in any desired pattern by the investor.

31
 Getting started Documents to be attached

1. Choose a DP • Passport size photographs

• Proof of residence (POR) - Any

2. Fill up an account opening form
one of Photo Ration Card with
provided by DP, and sign an
DOB / Photo Driving License
agreement with DP in a standard
with DOB / Passport copy /
format prescribed by the depository.
Electricity bill / Telephone bill

3. DP provides the investor with a

• Proof of identity (POI) - Any
copy of the agreement and schedule
one of Passport copy / Photo
of charges for his future reference.
Driving License with DOB /
Voters ID Card / PAN Card /
Photo Ration Card with DOB
4. DP opens the account and provides
the investor with a unique account
number, also known as Beneficiary
• PAN card
Owner Identification Number (BO
ID).

Note:
• The agreement required to be signed by the investor details the rights and duties of the
investor and DP.

• DP may revise the charges by giving a 30 days prior notice.

Maximum Number of holders in a Demat Account

A maximum of three persons are allowed to open a joint demat account in their names.

2.5 Tips for beginners in stock market.

1. There are no guarantees and not one single best way to invest.

32
2. Make informed or knowledgeable choices by doing your research first before buying or
selling stocks. Never make a decision based on your emotions and guesses.

3. You should think of a goal and a plan. How much do you want to invest?

4. Look at the value of the stock instead of the price. There is always a reason for the price.

5. Check the companies' trend. Take a look at the profits.

6. For beginners, you should focus on no more than 3 different stocks. If you have too many,
you might lose focus. Never focus on just one stock because you need to diversify your
portfolio to reduce risk.

7. Understand the basics of stock prices. Prices move up or down depending on future
projections.

8. You will never know everything about stocks so you need to keep on learning. Even
doctors are continuing to learn something new every day.

THINGS INVESTORS SHOULD KNOW ABOUT ACCOUNT OPENING AND

DEMATERIALISATION

Providing the bank account details at the time of account opening

It is mandatory for an investor to provide his bank account details at the time of opening a
demat account. This is done to safeguard investor's own interests. There are two major
reasons for this:
1. The interest and dividend warrants can't be en-cashed by any unauthorized person, as
the bank account number is mentioned on it.

2. It is convenient and time saving, as dividends and interests given by the companies can
be directly credited to the investor's bank account (through ECS facility, wherever
available).
Change in bank account details
It is possible for an investor to make changes to the details of his bank account. The investor
must inform any change in his bank account details to his DP. This enables him to receive the
cash corporate benefits (such as dividends, interests) directly into his account in time and
discourages any unauthorized use by any second party.

Change in the address of investor as provided to the DP

Any change in your address should be immediately informed to DP. This enables DP to make
necessary changes in the records and informing the concerned companies about the same.

Opening multiple accounts

An investor is allowed to open more than one account with existing DP or with different
DPs.

33
Minimum balance of securities required in demat account
There is no stipulated minimum balance of securities to be kept in a demat account.

Account opening and ownership pattern of securities

One must make sure to open a demat account in the same ownership pattern in which the
physical securities are held. For example: If you have two share certificates, one in your
individual name (say 'X') and the other held jointly with some other individual (say 'XY'),
then in such a case you will have to open two different accounts in respective ownership
patterns (one in your name i.e. 'X' and the other account in the name of 'XY').

Same combination of names on certificates but different sequence of names on the

certificates or demat account
Regulations provide that the client receives a contract note indicating details like order
number, trade number, time, price, brokerge, etc. within 24 hours.of the trade. In case of any
doubts about the details of the contract note, you (investor) can avail the facility provided by
NSE, wherein you can verify the trades on your website
www.nseindia.com/content/equities/eq_trdverify.htm. The Exchange generates and maintains
an audit trail of orders/trades for a number of years.and you can counter check detais of
order/trade with the Exchange.

Allowing somebody else to operate your Demat account

It is possible for an account holder (Beneficiary Owner) to authorize some other person to
operate the demat account on his behalf by executing a power of attorney. After submitting
the power of attorney to the DP, that person can operate the account on behalf of the
beneficiary owner (BO)..

Addition/deletion of the names of the account holders after opening the account
It is not possible to make changes in the names of the account holders of a BO account. A
new account has to be opened in a desired holding/ownership pattern.

Closing a demat account and transfer of securities to another account with same or
different DP
An investor, if he wants, can also close his demat account with one DP and transfer all the
securities to another account with existing or a different DP. As per a SEBI circular issued on
November 09, 2005, there are no charges for account closure or transfer of securities by an
investor from one DP to another

Freezing/Locking a demat account

The account holder can freeze his demat account for a desired time period. A frozen account
prevents securities to be transferred out of (Debit) and transferred into (Credit) the account.

Dematerialised shares do not have any distinctive number

Dematerialised securities are fungible assets. Therefore they are interchangeable and
identical.
2.6 DEMATERIALISATION

Definition
Dematerialisation is the process of converting physical shares (share certificates) into an
electronic form. Shares once converted into dematerialised form are held in a Demat account.

34
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

2.7 REMATERIALISATION

The process of getting the securities in an electronic form, converted back into the physical

35
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:

Fig 2.2

Note:

• Depository - An organization that facilitates holding of securities in the electronic

form and enables DPs to provide services to investors relating to transaction in
securities. There are two depositories in India, namely NSDL and CDSL. As per a

36
 SEBI guideline, the minimum net worth stipulated for a depository is Rs.100 crore.

• NSDL/CDSL - The securities are held in depository accounts, like the funds are held
in bank accounts. There are two depositories in India namely NSDL and CDSL. NSDL
(National Securities Depository limited) was established in August 1996 and is the
first depository in India. CDSL (Central Depository Securities Limited) is the other
depository and was established in 1999.

• DP (Depository Participant) - A Depository Participant can be a financial

organization like banks, brokers, financial institutions, custodians, etc., acting as an
agent of the Depository to make its services available to the investors. There are a total
of 538 DPs registered with SEBI, as on March 31, 2006 and each DP is assigned a
unique identification number known as DP-ID.

37
 Chapter – 3
STUDY AND ANYLISIS OF
SERVICES PROVIDED BY
RELIGARE AND OTHER
BROKERAGE HOUSES

38
3.1 STUDY OF BROKING HOUSES IN NOIDA

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

39
 ● 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

40
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

41
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.
i.e. SEBI, NSE and BSE.

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.

42
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 sahrekhan

● Equity Trading Platform (Online/Offline).

● Commodities Trading Platform (Online/Offline).

● Portfolio Management Service.

● Mutual Fund Advisory and Distribution.

● Insurance

ANANDRATHI SECURITIES
Anand Rathi is a leading full service investment bank founded in 1994 offering a wide
range of financial services and wealth management solutions to institutions, corporations,
high–net worth individuals and families. The firm has rapidly expanded its footprint to over
350 locations across India with international presence in Dubai & New York. Founded by
Mr. Anand Rathi and Mr. Pradeep Gupta, the group today employs over 2,500 professionals
throughout India and its international offices.

43
Product and services by Anandrathi securities

Products

• Equities I Bonds I Mutual Funds I Derivatives

• Managed Investment Services / PMS
• Commodities
• Life Insurance
• General Insurance
• Offshore Structure & Global Investments

Services

• Creation of a customized financial strategy

• Diversification of assets based on a formal process of asset allocation
• Active tracking, monitoring and review of portfolios
• Creation of private trusts
• Tax planning
• Estate planning
• Structuring of family wealth

3.2 MY RESPONSIBILITY IN ORGANISATION:

The time duration of the project is 2 months starting from 1st June and ending on 31st
August. We were given targets to be achieved during training months. The targets of each
month were:
• 5 Demat Accounts
• 5 Commodity Account
I was supposed to use the database provided by the company to make cold calls or by
directly meeting people to get new leads

While making cold calls, we need to have:

• Good Communication Skills (Voice quality is clear and articulate)
• Persistent and able to bounce back from rejection
• Good organizational skills.
• Ability to project a telephone personality (Enthusiasm, friendliness)
• Flexibility: can adapt to different types of clients and new situations.

44
 Fig3.1 The Constructive Factors of Tele calling

Customer Acquisition Process

• Educate the prospects on the products and services.
• Customize the approach to each of the different customers involved in the sales
process.
• Establish a knowledge base for sales people, resellers and partners.
• Ramp up the new salespeople more quickly and keep them on road.
• Track the prospects as they move through the sales process.
• Harvest other types of information from your market to help the company close
business more quickly. The data of the prospects can be used for research and
development purpose.
• Enabling the consistent flow of information to the customer and encouraging
feedback from them.
• Helping the customers do the Financial Planning for future.

Limitations:
1. Cold Calling
• Voice and accent plays a major role.
• The right time to call a customer cannot be decided, as the customer may in a
different mood at the time of calling.
• Time consuming
• Less success rate

45
2. Corporate
• Time consuming
• Contacts with higher authorities play a major role

Problems faced while selling products:

• Customer dissatisfied with the services.
• People fear that Religare Being a Private company and a new entrant may be able to
sustain or not.
• Past experience, word of mouth.
• Misguidance by agents.
• People do not want to invest.
• Lack of knowledge and awareness about stock market.
• People risk appetite is very low, so they are afraid of mutual fund as well.

LEARNINGS

• To get initial success in this field is very difficult. Although the business generation
becomes easier with time as we serve more people who then get added up in the loyal
clientage. Thus time and service are two most factors to get in this field.
• Also the corporate remains a very important segment which gets business in bulk but
retail cannot be ignored which makes your business ticking.
• Customer remains in the pivotal position.

46
 CHAPTER – 4
DATA COLLECTION &
RESEARCH
METHODOLOGY

47
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 –

48
 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.

49
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 NCR.
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.

50
 CHAPTER – 5

ANALYSIS AND
INTERPRETATION

51
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

52
 Comparative Study of Broking houses
Brokerage Equity

Intraday Delivery Sub- Branches DMAT Margin

Name of Firm (In Paisa) (In Paisa) Clients Broker (Noida) in Rs. Money

Angel Broking
Ltd. 2 20 1000 35 1 750 5000

Reliance Money 0.5 75 4000 17 1 950 0

Sharekhan
Securities 5 25 1000 25 4 850 10000

SMC securities
ltd. 3 30 300 20 2 650 5000

India Infoline 3 25 550 7 5 800 5000

ICICI Direct 7.5 75 400 0 1 499 5000

Kotak Securities 3 30 400 0 1 300 5000

India Bulls 3 30 2000 0 2 700 0

Anand Rathi
Securities 3 20 500 11 2 700 0

Religare
Securities 2 25 1700 40 5 500 0

HDFC Securities 3 15 200 20 2 650 7000

Table5.1

53
 AdvisoryInvestment

LoansPersonal
FundMutual

Back office

M-Connect
Insurance

E-Broking

Software
Funding
PMS
Services

Religare Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Securities

ICICI Direct No Yes Yes Yes Yes Yes No Yes Yes Yes

India Infoline
Security Pvt. Yes No Yes Yes Yes Yes No No Yes Yes
Ltd.
HDFC Yes No Yes Yes Yes Yes No Yes Yes Yes
Securities
Indiabulls Yes Yes No Yes Yes Yes No No Yes Yes

Kotak Yes Yes Yes Yes Yes Yes No No Yes Yes

Securities
Reliance Yes Yes No Yes Yes Yes Yes No Yes Yes
Money
Sharekhan No No Yes Yes Yes Yes No No Yes Yes
Securities
SMC No Yes No Yes Yes Yes No No Yes Yes
securities ltd
Anand Rathi No Yes Yes Yes Yes Yes No No No Yes
Securities
Angel No Yes Yes Yes Yes Yes No No Yes Yes
Broking ltd.

Table 5.2

54
Market shares

Religare
15%
others Religare
40% Reliance money
India bulls
others
Reliance money
27%

Indiabulls
18%

Fig5.1

Interpretation: This shows that even with sufficiently high Brand Equity,
Religare ranks only 3rd amongst the Demat account providers. This is
probably because of two main reasons:

1. Lack of promotion and unfocussed approach towards Product

awareness
2. Non – transparent marketing policies of the company

Hence, the company should crystallize its products and should indulge in
aggressive marketing and promotion.

55
Comparison of interaday brokerage

Fig 5.2

Interpretation:

This shows that intraday brokerage charges is taken by religare is 2 paisa/100 Rs and by
reliance money it is .5 paisa so for more customer religare has to work on its brokerage
charges

56
Comparison of delivery brokerage

Fig5.3

Interpretation:

This shows that delivery brokerage charges is taken by religare is 20 paisa/100 Rs and by
Angel broking it is 15 paisa so for more customer religare has to work on its brokerage
charges

57
Comparison of Account opening charges

Fig5.4

Interpretation:

This shows that account opening charges is taken by religare is 500 Rs and by sharekhan
securities it is 350 Rs so for more customer religare have to work on its brokerage charges

58
CHAPTER – 6

CONCLUSION

59
 CONCLUSION

On the basis of the study it is found that Religare securities ltd. is better services provider
than the other stockbrokers because of their timely research and personalized advice on what
stocks to buy and sell.

Religare securities ltd provides the facility of Trade tiger as well as relationship manager
facility for encouragement and protects the interest of the investors. It also provides the
information through the internet and mobile alerts that what IPO’s are coming in the market
and it also provides its research on the future prospect of the IPO.

Study also concludes that people are not much aware of stock market and while it’s going to
be biggest market in India. From the above survey and observation it is found that most of
the people who are trading in share market belongs to the employee group, next comes the
business men and other class of income people. As the share market value goes on increasing
day by day the investor who wants to invest in shares also increasing. But investing in shares
is as risky as earning yield.

Trading in online trading firm is easy as it all delivered with internet and within a few
minutes the customer can buy and sell shares which save time as well as reduction of paper
work. Hence trading in share market is increasing day by day and investors are ready to
invest their investment in share market only.

They expect all the information such less rates, less brokerages, highly returns and better
service level without delay.

60
 CHAPTER – 7

Recommendations

61
Recommendations

• Commitment should be equalized for every person

• Improvement in the opening of Demat & contract notice procedure is required
• There should be a limited number of clients under the relationship manger. So that he
can handle new as well as old customer properly
• Some promotional activities are required for the awareness of the customer
• People at young age should be encouraged to invest in stock market
• Seminars should be more held for providing information to prospective and present
customers
• In the organization, There must me be co-operation with other department and other
branches
• Company should make more promotional activities by giving advertisements and
publicity.
• Give more demonstration to customers so that they can get complete knowledge
about online trading
• Give the complete information about products and services offered by the company to
the customers.
• The number of branches it has at present should be increased all over the country,
which will attract a large number of customers.
• Company should educate about the rules and regulations of SEBI to its customers.

62
 QUESTIONNAIRE
Date _ _ /_ _ /_ _

Name of Company :
_____________________________________________________

Address :
_____________________________________________________

Name of Representative :____________________ ___ Contact No. : ______________

1. Are you offering these products/services to your existing customers? (Please tick on
this)

Products:

A) Online Trading B) Commodities C) PMS

D) E-Broking E) Insurance F) Mutual Fund

G) Personal Loans H) IPO I)

Others( _______________)

Services:
A) Research & Advisory Services B) Depository Services C) Back Office

D) M-Connect E) Others ( ___________)

2. How many clients are you having active?

________________________________________

3. How many sub-brokers is your company having?

__________________________________

4. How much you charge for Products/services?

S. No. Name of service/Product Charges (In Rs.)

63
 1 DMAT Account

2 Margin Money

3 Brokerage (Equity) Same Day // Delivery

4 Brokerage (Commodity)

5 Sub - Broker ship charges

5. Are you organizing any events or survey for customer’s awareness? (If yes then
specify)

______________________________________________________________________
________

6. Any special services which makes you different in market?

______________________________________________________________________
________

7. Who are the major competitors in market for your company?

_________________________________________________________________________
____

64
 BIBLIOGRAPHY

References: - For web support

1) www.mcxindia.com

2) www.religare.in

3) www.answers.com

4) www.ncdex.com

5) www.businessstandard.com

Books , Magazines & News-papers references

1) Naresh Malhotra ( market research management)

2) Philip Kotler ( marketing management)

3) Business World

4) Business Economy

5) The economic times

6) Business standard

7) Business Line

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8) Daily market commentary, daily research reports of Religare
commodities Ltd.

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