Professional Documents
Culture Documents
INTRODUCTION TO ANGEL
In a shot span of 18 years since inception, the Angel Group has emerged as one of the top five retail stock broking houses in India, having membership of BSE, NSE and the two leading Commodity Exchanges in the country i.e. NCDEX & MCX. Angel Broking is also registered as a Depository Participant with CDSL.
The group is promoted by Mr. Dinesh Thakkar, who started this business as a sub-broker in 1987 with a team of 3. Today the angel group is managed by a team of 1937 direct employees and has a nation wide network comprising of 12 Regional hubs, 64 branches and 2759 sub brokers & business associates. Angel is 100% focused on retail stock broking business unlike any other larger national broking house. The group currently services more than 226030 retail clients.
Angel habitually generates value added features without the cost burden being passed on to the clients as they strongly believe that better understanding of clients needs and wants is their top priority. Their e-broking facility is one such effort, which gives the client a platform to access state of the art trading facility at the click of a button.
Angel has always strived for delivering customer delight and developing strong long term bonds with its clients as well as channel partners. Angel thrives on a vision to introduce new and innovative products and services constantly. Moreover, Angel has been among the pioneers to introduce the latest technological innovations and integrate them efficiently within its business.
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Derivatives Trading
Online Trading
Commodities Trading
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COMPANYS PROFILE
REGISTERED(HO) OFFICE:
G-1, Akruti Trade Centre, Road No. 7, MIDC Marol, Andheri (E), Mumbai 400 093
REGIONAL OFFICE:
ANGEL STOCK BROKING LTD. 301, Mahalaya Complex Opp. President Hotel Off C.G road Ahmedadad 380006
FORM OF ORGANISATION:
Private Sector
PROMOTER:
ACCOUNTING YEAR:
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MANAGEMENT TEAM
Chairman and Managing Director: Mr. Dinesh Thakkar Chief Investment Officer Senior Research Analyst : Mr. Rajen Shah : Mr. Phani Sekhar
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ORGANIZATIONAL STRUCTURE
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ANGELS LOGO
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ANGELS VISION
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INVESTMENT PHILOSOPHY
Given the clients risk profile, maximize performance by adhering to disciplined investment approach backed by quality research. Angels investment philosophy is based on two key attributes:
1. Wealth Creation:
The creation of Wealth can be categorized as : Having money work for client Having others work for client Client Working for Money
2. Wealth Preservation:
As wealth grows, focus is shifted to striking a balance between asset creation and preservation. Wealth preservation applies to day-to-day financial life which includes managing cash flow and overall risk management.
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The primary aim is to avoid the thoughts of the declining market and not necessarily out-perform the rapidly rising market but to consolidate both the periods, which would result in outperforming the market along with wealth creation. Angels investment philosophy is outlined by in-depth focus on a disciplined long term investment approach in potential multi-baggers.
The 3 important tenets that we look for in any stock are: Consistent, steady & sustainable returns Margin of safety Low volatility
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Technical Report at 6:00 p.m. : This report analyzes trading pattern, historical background, market positions of key stocks and offers short term (1 to 5 days) as well as medium term (10 to 20 days) view. Tracking individual scrips as well as the Sensex and Nifty, its insights cut through the market maze.
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Stock Analysis :
Angels stock research has performed very well over the past few years and the Angel Model Portfolio has consistently outperformed the benchmark indices. The fundamentals of select scripts are thoroughly analyzed and an actionable advice is provided along with investment rationale for each scripts.
Flash News :
Key developments and significant news announcements that are likely to have an impact on markets / scripts are flashed live on trading terminals. Flash news keeps the market participants updated on an online basis and helps them to reshuffle on their holdings
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Online Chart :
An online forum to help clients, specifically day traders in judging the directions of the market and stocks which are in the limelight.
Intraday Calls :
For day traders, Angel provides intra-day calls with entry, exit and stop loss levels during market hours. These calls are flashed on their terminals. Their analysts continuously track the calls and provide recommendations according to the market movements.
Position Calls :
Angels Position Trading Calls are based on thorough analysis of the price movement in select scrips. These calls are for a 10-15 day time span with stop loss and target levels. These calls are flashed on their terminals during market hours.
Derivative Strategies :
Their analysts take view on the Nifty and select stocks based on the derivatives data and technical tools. Suitable Derivative Strategies are devised, which are flashed on their terminals and published in their reports.
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Futures Calls :
A customized product for HNIs to help them trade with leveraged position; wherein clients are advised on the stocks with entry, exit and stop loss level for short term benefits. Over and above this, financial status of the calls is monitored at all times.
5. PORTFOLIO MANAGEMENT SERVICES : Angel offers discretionary PMS to investors in order to assist them in managing their funds amidst continuous changing market dynamics and increasing complexities of investing. Investing in equity market requires in-depth knowledge and thorough analysis coupled with clear understanding of domestic and international economies. Investors need the services of an expert to manage their funds and deliver good returns in diverse market conditions. Continuous wealth creation with and emphasis on capital preservation is essential in todays complex markets.
In order to systematically diversify the holdings of clients across varied sectors and with and intention to give them handsome returns, Angel devised the concept of the Model Portfolio:
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Angel came out with its first Model Portfolio in August 2002
Since then it has come out with Model Portfolios which have consistently outperformed the Sensex YOY
In fact the latest model portfolio by Angel has successfully outperformed the Sensex by a whooping 80%. Angels Portfolio Advisory Team had a successful track record of assisting its
clients in managing their portfolios for over 4 years. The Portfolio Management Process starts with understanding each investors risk appetite and return expectations. The Portfolio Management Team not only draws support from Angels in-house research team for new investment ideas but also has its own stocks picking by adopting bottom up research.
Salient features of PMS schemes : 100% discretionary scheme Time horizon : 12-18 months Wealth Creation at minimum risk
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Investment Strategy:
To generate wealth on consistent basis rather than outperform by taking higher risk. Logic works well and thus will be given weight age along with financials Early identification of stocks to ride through the entire investment cycle Timing of investment is important to generate superior returns Bottomup approach Focus on companies which display Scalable business potential Large market opportunity Beneficiary of favorable economic cycle Valuation at steep discount to asset value
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Investment Strategy:
The scheme will seek to achieve returns through brand based participants in equity markets by creating a diversified equity portfolio. The portfolio will be overweight on large cap companies.
The portfolio strives at all time to achieve an 80% allocation to large cap companies.
The allocation of sectors and stocks in the portfolio may be dynamically structured in tune with changes in broader market conditions
Investor Profile:
The scheme would be suited for investors with low to moderate risk appetite
The scheme would be suited for investors having medium to long term perspective.
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Transparency : Regular statements and updates as well as online access to information required for investment. Regular Analysis and Monitoring : Investments undergo regular monitoring and analysis to check any deviation from the structured goal ensuring creation of wealth over a period of time. Professional Management : PMS is provided to professional management by experts on equity with an aim to optimize returns.
ANGEL GOLD:
In a volatile market it is very difficult for an investor to pick up value stocks which will give decent returns in the long run. We at Angel Gold realize your need for a professional financial advisor and hence are here to assist you in making wise and profitable decisions. We strongly believe that right decisions taken at the right time are always beneficial and that's why our entire research team comprising of 12 sector specialists along with our research head will understand your need, return expectation, risk profile and time horizon to design your portfolio accordingly. This portfolio will be tracked regularly and our efforts would be to optimize your returns in the long run.
A premium service for clients who need professional guidance on long term investments. Minimum fund / portfolio of Rs. 1 lack and maximum of Rs. 4 lack eligible for Angel Gold. Appropriate risk profiling before taking investment decisions Periodic group meetings and seminars in branches. Monthly Newsletter from the desk of Angel Gold. Browser based back-office software.
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o Research on 25 agro commodities, precious metals, base metals, energy products and polymers e-Broking : o Single screen customized market watch for MCX / NCDEX with BSE / NSE o Streaming quotes and intra day calls DP Facilities in Commodities Trading on CDSL 24x7 Online Back-office Efficient Risk Management Competitive Brokerage Rates
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ONLINE TRADING :
Specially designed for the net savvy traders and investors who prefer operating from their home or office through the internet. The investor can access state of the art Technology with three different e-broking products and voila trading on BSE, NSE, F & O, MCX and NCDEX.
ONLINE SOFTWARES.
ANGEL DIET: Application based product for Traders. ANGELTRADE: Browser based product for Active Investors.
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Angel Diet :
o Application based ideal for traders o User friendly and simple navigation o Robust and speedier execution of trade o BSE, NSE, F & O, MCX and NCDEX
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Angel Trade :
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o o o o o
Browser based for investors No installation required Advantages of mobility Trading as simple as internet surfing BSE, NSE, F & O, MCX and NCDEX
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ACHIEVEMENTS OF ANGEL
Major Volume Driver Award for 2004-2005 by BSE Major Volume Driver Award for 2005-2006 by BSE Major Volume Driver Award for 2006-2007 by BSE Major Volume Driver Award for 2007-2008 by BSE Major Volume Driver Award for 2008-2009 by BSE
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WEAKNESSES:
High Employee Turnover. No lifetime facility for Demat A/c Not quick solution of customers problems
OPPORTUNITIES:
To get into the segment of such investors who are less risky. Marketing at rural and semi-urban areas.
THREATS:
Increasing number of local players. Past image of Stock market
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STOCK EXCHANGES
India boasts of the oldest stock exchange in Asia -- the Bombay Stock Exchange is 125 years old. There are 23 recognised exchanges spread across the country, but a process of consolidation is now under way. Many of the regional stock exchanges have started aligning themselves with one or both of the two large exchanges (the Bombay Stock Exchange and the National Stock Exchange) both of which have VSAT networks that give them a nation wide reach. The National Stock Exchange is an unlisted for-profit company set up by some of the leading financial institutions of India. Most of the remaining stock exchanges are broker-owned (mutual) organisations, but the Bombay Stock Exchange is actively considering demutualisation. The Securities and Exchange Board of India (SEBI), the apex regulator of the capital market has regulations that mandate a minimum number of outside directors on the governing board and provide greater autonomy to the professional executives in the day-to-day running of the exchange.
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manner to the rolling settlement system. Further improvements in the settlement system to T+3 or beyond would have to wait for improvements in the payment system. However, account period settlement does not give rise to significant systemic risks in India because of stringent end of day and intra-day margining systems. Put simply, the weekly settlement is regarded as akin to a one-week futures contract, and the systemic risk is taken care of by using futures style margining.
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Name
217, Budhraja Building, HUBANESHWAR STOCK EXCHANGE ASSN., LTD,. Jharpada Cuttack Road, Bhubaneswar, Orissa - 751 006. THE CULCUTTA STOCK EXCHANGE ASSOCIATION LTD,. 7, Lyons Range, Calcutta - 700 001. Veekshanam Road COCHIN STOCK EXCHANGE LTD., P.B. 3529, Ernakulam, Cochi - 682 035. THE DELHI STOCK EXCHANGE ASSN. LTD., 3&4/4B, Asaf Ali Road, New Delhi 110 002. Saraf Building Annexe A.T. THE GAUHATI STOCK EXCHANGE LTD,. Road, Guwahati - 781 001. THE HYDERABAD STOCK EXCHANGE LTD,. Bank Street,
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Hyderabad - 500 001. Rajasthan Chamber Bhawan, JAIPUR STOCK EXCHANGE LTD,. M.I. Road, Jaipur - 302 003. 4th Floor, KANARA STOCK EXCHANGE LTD. Rambhavan Complex, Kodialbail, Mangalore - 575 003. Lajpat Rai Market, THE LUDHIANA STOCK EXCHANGE ASSN. LTD. Clock Tower, Ludhiana 141 008. 'Exchange Building', MADRAS STOCK EXCHNAGE LTD. Post Box No.183, 11, Second Line Beach, Chennai - 600 001
Premises, Sinha Library Road, Patna - 800 001. 1177,Budhwar Peth, Bank of Maharashtra Bldg.,
POPAT BHAI 30
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Rajkot - 380 002. THE UTTAR PRADESH STOCK EXCHANGE ASSN. LTD. Padam Towers, 14/113,Civil Lines, Kanpur - 208 001 101, Paradise Complex, VADODARA STOCK EXCHANGE LTD. Tilak Toad, Sayaji Gunj, Vadodara - 390 005. Chamber Tower, COIMBATORE STOCK EXCHANGE 8/732,Avvinashi Road, Coimbatore 641 018. Kingsway Building, MEERUT STOCK EXCHANGE LTD. 345, Bombay Bazar, Meerut Cantonment - 250 001. Maker Towers "F" Cuffe OTC EXCHANGE OF INDIA. Parade, Bombay - 400 005. THE NATIONAL STOCK EXCHANGE OF INDIA LTD. Mahindra Towers, A-Wing, RBC, Worli, Mumbai 18
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COMPETITORS
STOCK HOLDING CORPORATION OF INDIA LIMITED ICICI direct.com SHARE KHAN UTI SECURITIES MARWADI GROUP HDFC SECURITIES KOTAK SECURITIES RELIANCE MONEY ANAGRAM SECURITIES SHAH INVESTORS MONARCH SECURITIES INDIA INFOLINE(5 Paisa) OTHER LOCAL PLAYERS
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MARKETING DEPARTMENT STUDY PRODUCT & SERVICE DETAILS AND PORTFOLIO 6. REPORTS :
Market Outlook at 9:15 a.m. Technical Report at 6:00 p.m. Derivative Analysis Report at 9:15 a.m.
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MUTUAL FUND DISTRIBUTION AND ADVISORY IPO DISTRIBUTION AND ADVISORY ONLINE TRADING
ANGEL DIET ANGEL TRADE
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A premium service for clients who needs professional guidance on short and long term investments.
Brokerage of 0.06p. for intra day and 0.30p. for delivery based trading. 50% sharing of brokerage in case of Sub-brokers clients.
Shares can be kept in Angel pool or can be transferred to the respective DP accounts.
Intimation regarding transaction will be given to clients by evening of the day of transaction.
Existing client account can be used for Angel Products. Clients can do there own transactions in the same account as well.
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2. POSITIONING
Angel Products are positioned as an equity investment option for all those investors who aim for realistic return from equity as an asset class.
It is for the investor who wishes to seek professional advice for their investments.
Product Segment
Angel Products are for the people who fall in middle class higher middle class section of the society.
People who are not risk averse and can understand the return benefits vis--vis calculated risk taken.
Target Customers
Young professionals.
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Middle aged professionals considering traditional ways of investing i.e. FDs, PPF, gold, bonds, etc.
Small scale businessmen who are not risk averse and will understand the importance of reasonable returns.
Retired people who have taken hefty VRS or have savings of which 20-25% can be invested in equities.
3. PACKAGING
A Client of Angel Product will be regularly updated about the stocks and there performance by Advisory department.
Monthly newsletter will be issued by the Desk and Regular meetings also will be conducted at the branches.
A marketing kit will have Angel Products broacher, performance report FAQs, Consent letter and KYC forms.
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Marketing Strategies
The primary marketing strategy for all products is low brokerage charges. Low cost is the basis for attracting the customers.
Another marketing strategy is the corporate scheme of Angel which does not charge any fees for opening trading account if there are more than 10 persons opening account in a group.
5. PROMOTION
Fundamental workshops to be conducted at the branch on weekends.
Promotional activities such as stalls and exhibitions to be held at select housing colonies, clubs and companies.
Free SMS service. Here a client will receive our fundamental calls free of cost for a limited period.
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RESEARCH INTRODUCTION:
This research has been conducted to find out the present and the future scenario of e-Broking. In the past, investors had no option but to contact their broker to get real time access to market data. But now with the concept of e-Broking, it is possible to get real time data online without the need of contacting broker. In e-Broking system, the software is directly made available to the end-user and he/she can access real time data immediately.
RESEARCH OBJECTIVE:
There must be an objective behind any research. Without objective there is no meaning of research. The purpose of research is to discover answers to questions through the application of scientific procedures. The main aim of research is to find out the truth which is hidden and which has not been discovered yet. As each research has some or the other objectives the following are the objectives of this research: The primary objective is to find the present and the future scenario of e-Broking. To find the awareness of online trading To find the feature of online trading which can convert the offline traders to online trading. To identify potential customers To promote RTGS, E-Chopda, PMS, M Connect.
Research Methodology:
Angel provides us name list of its existing online customers with address according to pin code of areas. Call customers & ask for appointment to meet at his or her convenience. To meet customer and solve their query, if they have any. To get information on their experience with Angel. To explain them their trading software. To explain them portfolio Management Software E Chopda. 42
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Occupation:
Particulars Profession Businessman Govt. Servant Employee Retired Total No. of Clients 4 81 2 3 10 100
No. of Clients
90 80 70 60 50 40 30 20 10 0
81
4 Profession
3 Employee
10 Retired
INTERPETATION:
In my study I have find that most of online customers are Businessman & Retired people. Very few clients are Government servants & employees.
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Trading Pattern
45% 55% Yes No
INTERPETATION:
From the survey I find that almost 45% clients are regularly trading. So, they are doing intraday trading and as 55% clients are doing not regularly so they may be delivery base clients.
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2%
Series1
INTERPETATION:
Most of the clients are doing delivery base clients so, they are opening a/c for that purpose. And only 2% people open the a/c for IPO because of less return than trading and delivery.
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30%
13% 10% 5%
Good Service
Advisory
Low brokerage
Reference
INTERPETATION:
From our survey I find that 42% clients are satisfied with Angels services. And as the Angels software are very userfriendly so almost 30% clients are satisfied with the software provided by Angel.
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INTERPETATION:
As Angel Diet software is so good clients more prefer that software Common Software related queries are : - Software gets hang. - Slow Rate refreshing problems
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INTERPETATION:
Privacy and Comfort is the most prominent reasons for choosing Online Trading and that are 23% each. Comfort because clients can trade when they are free and with their convenience. Multiple Exchanges on one screen and speed are the other two reasons why clients choose Online trading. Online fund transfer is the least attractive reason amongst the client which we have surveyed and that is 6%.
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Amount in % 90 10 100
YES NO
90
INTERPETATION:
More than 90% of Angels customers have knowledge about process of their online trading software installation.
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95% 5% 100%
Yes No 95%
INTERPETATION:
Most of Angels customers know how to use online trading software & they also have knowledge about all function keys of their online trading software.
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100 90 80 70 60 50 40 30 20 10 0
100
Training Provided
INTERPETATION:
From the survey I find that all the clients are aware about the back office. And only 80% get the training and also from that 75% are client is satisfied with their services. 25% of customers are not satisfied with service of Back Office, the reasons are: Not user friendly back office. Option of portfolio is missing, that were earlier in back office. It takes time to find necessary information. Not properly arranged software.
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INTERPETATION:
Customers appreciate the TEAM VIEWER service of Angel. Customers are less interested in Angel TOOLBAR.
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Services of Angel
100 50 0 93 72.5 27.5 7 35 2.5 65 30 INTRESTED NOT INTRESTED 97.5 70
INTERPETATION:
Customers appreciate ECN & Advisory on messenger/ SMS. Customers are less interested in RTGS & M - Connect. Response towards Branch training is also very low. Customers are much interested in research report. Very favorable response to E chopda software
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INTERPETATION:
52.5% clients are satisfied with the services that Angel broking provides them. Where 22.5% clients are very much satisfied with the services of Angel Broking. 2% clients are not satisfied with the services.
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Comparison of ONLINE & OFFLINE customers of Angel. Question: Number of Clients Particulars Online Clients Offline Clients Total Number of Clients
13 87 100
Client Category
13%
87%
INTERPETATION:
Amongst the clients we have survey 87% clients are Offline traders where as only 13% clients are Online traders. The reason why clients choose offline trading may be they are not acquainted with the computer or they cant carry computer with them and it is easy to call the dealer and ask for the deal.
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YES 15.5
NO 84.5
NO 85%
INTERPETATION:
In our survey, we have find that very few customers are really interested in online fund transfer service Only 15.5 % Clients are interested in online fund transfer and 84.5 % Clients are not interested in online fund transfer the reason may be that : They dont know how to transfer fund online Customers dont find it safe. Fear of occurrence of any mistake in fund transfer process.
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Area: The area was limited only to Ahmedabad city. The result may have varied, if it was conducted somewhere else.
Sample Size: The Sample size taken is only 100 due to time constraint; which may not result in very accurate results.
Time Limit: The time limit taken for conducting the research was very less which could also be one of the limitations of the study.
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FINDINGS
From the research carried out, it can be concluded that presently the concept of e-Broking is not prevalent in the market. Still the traditional method of offline trading is preferred by the people. As it is a new concept, it will take time for people to change their mode of trading.
If properly marketed, the concept of e-Broking can be penetrated in the minds of people. For this the benefits of e-Broking should be conveyed to those who are not aware of it. Training should be given regarding the use of software. People should be educated regarding the easiness of trading while using online trading.
The users of online trading are mostly businessman. Other persons falling in the category of employee, govt. servants or professionals are either not aware or are not mentally prepared for using e-Broking concept. Such people can be made aware about the benefits of e-Broking and it uses should be properly conveyed so that people become ready to use this concept.
General Complains from the customers are: Not proper response to queries. Bad experience in branch training. Physical bill charge of Rs.10 is not fair. Not proper tips. Sometimes BDEs make wrong commitments to customers. Not user friendly Back Office. NO information is being provided if the telephones numbers of dealers are changed.
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The potential customer for Angel Broking House consist of professionals, employees and govt. servants because these persons are either not investing or investing through other broking houses. The persons investing from other broking houses can be converted to the customers of Angel Broking by conveying its unique features and the low brokerage cost and the rest can be educated about stock market.
SUGGESTIONS:
To make the concept of e-Broking powerful, the Company must educate the people regarding the benefits of e-Broking.
The Company can give training to the customers regarding e-Broking and keep seminars for the customers.
A person having sound knowledge about using the software can be appointed to solve the queries of customers.
The benefits of e-Broking must be marketed properly in order to make people use e-Broking. Through this the Company can increase the awareness of e-Broking.
The features of online trading can be used by the Company to convert offline traders to online traders.
The potential customer can be identified by knowing the competitors customer and they can be conveyed to trade with Angel Broking by conveying the unique features and low brokerage provided by the Company.
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ANNEXURE:
Client Name:- _________________________________________________________ Client Code:- ______________________ Family Codes (if any):-_________________ Contact No: - Landline:- ____________________ Mobile: - ____________________ E- mail ID: - ___________________________________________________________ 1) Do you trade regularly? Yes No
3) Reason for opening demat and trading account in angel broking. Good Service Low brokerage Good online Software Reference Advisory Other please specify______________________ 4) Any Software Related Query through Angel Broking Ltd. _______________________________________________________________________
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7) Which Training Provided? A) Training on Software Installation / if not then download B)Training on Software Function Keys C)Training on Back office Are you satisfied with service of back office? If No, Give the reason ____________________ D)Download Team viewer/ Angel toolbar 8) Training related to online fund Transfer Yes Yes No No Yes Yes Yes Yes No No No No
9) Over all how satisfied are you with our present online services?
Dissatisfied 10) Have you been informed regarding the services provided by Angel? ECN RTGS M-connect E-Chopda Branch Training Research Reports
Advisory on Messenger/SMS
Trade Confirmation
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11) Have you been informed regarding the Products provided by Angel? Online Trading Margin Funding PMS Angel Gold Prepaid Brokerage Life Insurance (Birla SunLife) Mutual Fund Fixed Deposit Bonds Portfolio Restructuring 12) Any Suggestion/ Feedbacks (online): _____________________________________________ ______________________________________________________________________ 13) Any References you would like to give? __________________________________________ 14) Client wants to start? Software Angel Back office E-Chopda
Reviewed by:-_____
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Conclusion:
The research conducted by me is summarized as under: From the research, it could be concluded that Angel in all ways as compared with the other stock broking houses has very good scope in the Ahmedabad city. It provides vary good services to their customers. It has a very less brokerage rate than other broking houses. Angel in all ways is good just that it needs to provide more and better services and fast services to the customers. Still in the city the brand name (Angel) needs to be emphasized on, while marketing & selling the product. Still the market is not 100% fully aware that what Angel is. And what is E-Broking. There are so many potential customers for Broking Industry. Still Govt. Servant and Employee and professionals are investing their money in other components. There are still 61% is the potential future for share broking. So company has to make more marketing and try to convert their investment in share market and make a more customer. So company not only focuses to their present customer but also focus on other potential customers. It could come up with products, which cater to all segments of the society after a little cost cutting, than fixing up a standard service for all its customers, whose needs vary diversely. So first of all Angel has to take initiative & arrange the seminar or class that to at nominal fees and provides the information about the potentiality and future of e-broking and how easy it was.
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