Competitive Analysis

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ESTD 1948
GAUHATI UNIVERSITY

A training report submitted in partial fulfillment of the requirement for the award of
degree of Master of Business Administration (Industry Integrated), Gauhati University on
“FINANCE” FOR SHAREKHAN LTD.

Under Organizational Guidance Of: Under Institutional Guidance Of:
MR. DEEPAK JAIN PROF. S. MUKHERJEE
(Re!"#$%&'#( M!%!)e*+ (D#*e,"$*+


HARIKISHAN INSTITUTE OF MANAGEMENT STUDIES
P*e(!*e- . S/01#""e- 234 GHYASUDDIN 5G. U. Re)#&"*!"#$% N$. 6 7789 $:
;7795;711



ON THE JO2 TRANING ON
COMPETITIVE ANALYSIS PROMOTION . FUTURE OF
ONLINE TRADING IN SHAREKHAN
FOR THE PARTIAL FULFILLMENT OF THE
REUIREMENT OF MA!TER OF "U!INE!!
A#MINI!TRATION
UNDER
PROF. S. MUKHERJEE
D#*e,"$*
HIMS (Ne< De'#+

Under Organizational Guidance Of: Under Institutional Guidance Of:
MR. DEEPAK JAIN PROF. S. MUKHERJEE
(Re!"#$%&'#( M!%!)e*+ (D#*e,"$*+

SU2MITTED 2Y
GHYASUDDIN
M2A ;779511= GAUHATI UNIVERSITY (APPROVED 2Y UGC+
!
DECLARATION
I do hereby de"lare that this pie"e of pro#e"t report entitled “C$1(e"#"#>e
A%!3&#& P*$1$"#$% . F/"/*e O: O%#%e T*!-#%) I%
S'!*e?'!%” for partial fulfillment of the requirements for the award of the
diploma of “MASTER OF 2USINESS ADMINISTRATION” is a re"ord
of original wor$ done by me under the supervision M%& '(()A* +AI, and
guidan"e of PROF$ !$ MU%HER&EE= H!*#?#&'!% I%&"#"/"e $:
M!%!)e1e%" S"/-#e&= Ne< De'#.
-his pro#e"t wor$ is my own and has neither been submitted nor published
elsewhere&

SUBMITTED BY:-
GHYASUDDIN
.
ACKNOWLEDGEMENT
/irstly, I would li$e to than$ Mr$ #ee'a( &ain )Relations*i' Manager+ and a sin"ere
than$s to all other staff members of !*are(*an Ltd$ who have helped me dire"tly or
indire"tly in my diffi"ulties&
I wish to e0press my deepest and most sin"ere than$s to my /a"ulty Guide, Prof$ !$
Mu(*er,ee for their invaluable guidan"e 1 support throughout the "ompletion of my
pro#e"t&
2ast but not least, I am than$ful to all my family for "ooperating with me at every stage
of the pro#e"t& -hey a"ted as a "ontinuous sour"e of inspiration and motivated me
throughout the duration of the pro#e"t helping me a lot in "ompleting this pro#e"t&
GH-A!U##IN
3

TA2LE OF CONTENTS
SERIAL NO. TOPIC
1
EXECUTIVE SUMMARY
; INTRODUCTION
8 MY ROLE & RESPONSIBILITY
4
COMPANY PROFILE
• About Sharekhan
• SSI Cor!orate "tru#ture
• Cor!orate $e$ber"
• Ser%&#e" Pro%&'e' b( Sharekhan
• Pro'u#t" & Re)u&re' Do#u$ent"
• Bran#he" a** o%er In'&a
@
CAPITAL MARET IN INDIA
• Pr&$ar( & "e#on'ar( $arket
• De!o"&tar( an' 'e!o"&tar(
!art&#&!ant"
• Tra'&n+ an' "ett*e$ent
• On*&ne "hare tra'&n+
• De$ater&a*&"at&on o, "hare
• Fun#t&on o, "to#k $arket
9
INDIAN STOC MARET
• About NSE
• About BSE
• S-OT Ana*("&"
• .ur'*e" o, On*&ne Share tra'&n+
4
A
COMPETITIVE ANALYSIS
• /!a&"a0#o$
• otakStreet0#o$
• In'&aBu**"0#o$
• ICICID&re#t0#o$
• .DFC"e#0#o$
8
RESEARC. MET.ODOLO1Y
• Sa$!*&n+ P*an
• Metho'o*o+( ,or Cu"to$er A#)u&"&t&on
9
ANALYSIS & FINDIN1S
• Ana*("&" o, 2ue"t&onna&re
• F&n'&n+"
17
CONCLUSION & RECOMMENDATION
• Con#*u"&on
• Learn&n+
• L&$&tat&on
• Re#o$$en'at&on
11 ANNEXURE
1; BIBLIO1RAP.Y
5
EBECUTIVE SUMMARY
-his resear"h is based on the C$1(!*!"#>e !%!3&#& $: S'!*e?'!% <#"' $"'e* 0*$?#%)
'$/&e& !%- "'e &"/-3 $: F/"/*e $: O%#%e S'!*e T*!-#%) #% I%-#!& It6s totally based on
realisti" approa"h towards the online share7trading s"enario in India&
In the first phase I "overed some other sto"$ bro$ing "ompanies as "ompared to
8hare$han& I e0amined thoroughly areas su"h as number of players, te"hnology they are
offering their "ustomer base their produ"ts and offerings and how they mar$et their
produ"ts et"&
In between to a"quire new "ustomers for 8hare$han was also an integral part of the #ob&
In this pro"ess I spo$e to different potential "ustomers about the organi9ation and its
produ"ts in order to in"rease the popularity of 8hare$han&
I too$ 'elhi as a sample& I did follow mar$et resear"h pro"edure to get an idea about the
future of :nline 8hare -rading& I was assigned with the tas$ of "omparing different
online bro$ing "ompanies and predi"ting the future of online share trading in India&
I have underta$en this pro#e"t with "learly defined ob#e"tives, whi"h are;
 Gathering data about the leading online bro$ing houses and "ompare the main
points and find the strengths of 8hare$han "ompared to them&
 <ondu"ting Mar$et %esear"h in various parts of the "ity in order to get statisti"al
data for "ommenting on the future of online share trading in India&
 <ustomer A"quisition through sales of -rading = 'e7mat A""ounts in order to get
a deep insight as to how the :rgani9ation a"tually performs these fun"tions&
'uring the study I found that :nline 8hare -rading of 8hare$han is la"$ing in some
areas& 8till if we tal$ about Indian "ustomers there are many who are still not aware about
Internet, they still prefer the traditional method of 8hare -rading be"ause they thin$
Internet fraud "ould be there& But many of the young traders or aware traders prefer
:nline 8hare -rading from 8hare$han be"ause they want that wor$ should be speedy and
return should be high&
8ometime people get irritated in filling the form be"ause it6s a long pro"edure, due to
these problems Indian <ustomer hesitate to open '7Mat a""ount but I have suggested few
points whi"h "an ma$e 8hare$han a global brand in the world and faith of "ustomers will
also in"rease&
In the "ru0 of whole pro#e"t, at 8hare$han we "onsider our "ustomer as a valuable asset
of the "ompany so they ta$e "are of their "ustomers and provide good servi"es in
"omparison of the other "ompetitors e0isting in the mar$et&
>
RELIVANCE OF THE PRO2LEM
I was assigned with the tas$ of "omparing different online bro$ing
"ompanies and predi"ting the future of online share trading in India as a part
of the summer training "urri"ulum& -he entire pro#e"t was divided into three
parts;
 Gathering data about the leading online bro$ing houses and "ompare
the main points and find the strengths of 8hare$han "ompared to
them&
 <ondu"ting Mar$et %esear"h in various parts of the "ity in order to
get statisti"al data for "ommenting on the future of online share
trading in India&
 <ustomer A"quisition through sales of -rading = 'e7mat A""ounts in
order to get a deep insight as to how the :rgani9ation a"tually
performs these fun"tions&
?
INTRODUCTION
In today6s s"enario :nline 8hare -rading in 8to"$ mar$et is gaining
popularity& -ill now most of the "ustomers were wor$ing with offline but in
metro "ities :nline 8hare -rading is preferred be"ause no one has mu"h time
to go to mar$et and wor$ with offline&
8o online share trading "omes in pi"ture& In :nline 8hare -rading investors
invest their money in sto"$ mar$et through the Internet& -hey do not want to
go to a bro$er& -oday "ompanies provided all information on a "ompany
website or ma$e their own software& Investors buy or sell their se"urities in a
few se"onds by "li"$ing a mouse&
:nline 8hare -rading is benefi"iary for "ustomer as well as "ompany
be"ause in online "ustomers have not ta$e mu"h pain for investing money in
a mar$et& All pro"ess is done automati"ally in a few se"onds& <ompanies
provided resear"h reports, monthly maga9ine et" through Internet& Investors
get this information online& -hese reports help investors for investment in
se"urities& :nline 8hare -rading is very less time "onsuming and
ine0pensive& 8o :nline share -rading is mu"h better than offline share
trading& :nline 8hare -rading is safer and faster alternative to the offline
8hare -rading as it offers freedom from delays, thefts and paperwor$& 8o
:nline 8hare -rading is qui"$, "onvenient and effi"ient&
A0$/" S'!*e?'!%4
8hare$han is [email protected] leading retail finan"ial servi"es "ompany& -hey have
over 4?? share shops a"ross !. "ities in India& Ahile their si9e and strong
balan"e sheet allow them to provide "ustomers with varied produ"ts and
servi"es at very attra"tive pri"es, their over >4B <lient %elationship
Managers are dedi"ated to serving "ustomers unique needs&
8hare$han is lead by a highly regarded management team that has invested
"rores of rupees into a world "lass Infrastru"ture that provides "lients with
C
real7time servi"e 1 !3=> a""esses to all information and produ"ts& -heir
flagship S'!*e?'!% P*$:e&&#$%! Ne"<$*? offers real7time pri"es, detailed
data and news, intelligent analyti"s, and ele"troni" trading "apabilities, right
at your finger7tips& -his powerful te"hnology "omplemented by their
$nowledgeable and "ustomer fo"used %elationship Managers is "reating a
world of smart investors&
8hare$han offers a full range of finan"ial servi"es and produ"ts ranging from
(quities to 'erivatives enhan"e your wealth and hen"e, a"hieve your
finan"ial goals&
[email protected] <lient %elationship Managers are available to the "ustomers to
help with their finan"ial planning and investment needs& -o provide the
highest possible quality of servi"e, 8hare$han provides full a""ess to all our
produ"ts and servi"es through multi7"hannels&
Se*>#,e& (*$>#-e- 03 "'e SHAREKHAN

EC/#"#e& . De*#>!"#>e& 4
<omprehensive servi"es for
independent investors, a"tive traders
1 ,on7%esident Indians&
• S'!*e?'!% eC/#"3
!%!3&#&
4
)remium resear"h on 3BD
"ompanies updated daily&

De($&#"$*3 Se*>#,e& 4
Ealue added servi"es for seamless
delivery
B
MY ROLE . RESPONSI2ILITY
My role was to get an idea about the future of :nline 8hare -rading&
I was assigned with the tas$ of "omparing different online bro$ing "ompanies and
predi"ting the future of online share trading in India&
I have underta$en this pro#e"t with "learly defined ob#e"tives, whi"h are;
 Gathering data about the leading online bro$ing houses and "ompare the main
points and find the strengths of 8hare$han "ompared to them&
 <ondu"ting Mar$et %esear"h in various parts of the "ity in order to get statisti"al
data for "ommenting on the future of online share trading in India&
 <ustomer A"quisition through sales of -rading = 'e7mat A""ounts in order to get
a deep insight as to how the :rgani9ation a"tually performs these fun"tions&

COMPANY PROFILE
8hare$han, India6s leading sto"$bro$er is the retail arm of 88*I, an
organi9ation with over eight de"ades of sto"$ mar$et e0perien"e& Aith more
than 4?? share shops in over BBBB!. "ities, and a presen"e on Internet
through www&share$han&"om& India6s premier online trading destination, we
rea"h out to "ustomers li$e no one else&
8hare$han offers you trade e0e"ution fa"ilities on the B8( and the ,8(, for
"ash as well as derivatives, depository servi"es and most importantly,
investment advi"e tempered by ?B years of resear"h and bro$ing e0perien"e&
-o ensure that your trading e0perien"e with 8hare$han is fast, se"ure and
hassle free, we offer a suite of produ"ts and servi"es, providing you with a
multi7"hannel a""ess to the sto"$ mar$ets&
A0$/" SSKI )*$/(
!
80 years of taming
Bulls & Bears
88*I group also "omprises institutional bro$ing and "orporate /inan"e&
Ahile the institutional bro$ing division "aters to the largest domesti" and
foreign institutional investors, tele"om and media& 88*I holds a si9eable
portion of the mar$et in ea"h of these segments&
As the forerunner of investment resear"h in the Indian mar$et, we provide
the best resear"h "overage amongst bro$ing houses in India& :ur resear"h
team is rated as one of the best in the "ountry& Eoted four times as the -op
'omesti" Bro$erage Fouse by Asia7money 8urvey& 88*I is "onsistently
ran$ed amongst the top domesti" bro$erage houses in India&
SSKI G*$/( C$1(!%#e&
 SSKI I%>e&"$* Se*>#,e& L"- (S'!*e?'!%+
 S.S. K!%"#! I&'<!*! Se,/*#"#e&
 SSKI C$*($*!"e F#%!%,e
 I-*e!1 P*$-/,"#$%&
.
SSKI 6 CORPORATE STRUCTURE
3
CORPORATE MEM2ERS
TARUN P. SHAH (CEO+
E-/,!"#$% 4 2.S,.
ED(e*#e%,e 4 19 Ye!*&
P*e>#$/& ,$1(!%3 4 2ee% <#"' SSKI G*$/(

4
SHANKAR VAILAYA
DIRECTOR5OPERATIONS
E-/,!"#$% 4 C'!*"e- A,,$/%"!%"
P*e>#$/& ,$1(!%3 4 2ee% <#"' SSK
ED(e*#e%,e 4 19 3e!*&
JAIDEEP ARORA
D#*e,"$*5 P*$-/," . Te,'%$$)3
E-/,!"#$% 4 M2A
ED(e*#e%,e 4 11 Ye!*&
P*e>#$/& ,$1(!%3 4 ICICI
5
SERVICES PROVIDED 2Y SHAREKHAN
>
SHAREKHAN SERVICES
EC/#"#e& !%- De*#>!"#>e&
:ur %etail (quity Business "aters to the needs of individual Indian and ,on7%esident
Indian (,%I) investors& 8hare$han offers bro$er assisted trade e0e"ution, automated
online investing and a""ess to all I):@s&
-hrough various types of bro$erage a""ounts, 8hare$han offers the pur"hase and sale of
se"urities, whi"h in"ludes (quity, 'erivatives and <ommodities Instruments listed on
,ational 8to"$ (0"hange of India 2td (,8(I2), -he 8to"$ (0"hange, Mumbai (B8()
and ,<'(G&
• S'!*e?'!% C!&&#, !,,$/%" 7 <omprehensive servi"es in"luding resear"h and
investing guidan"e for independent investors&
• S'!*e?'!% F!&" "*!-e 7 8hare$han is dedi"ated to empower A"tive -raders
through personal servi"e and advan"ed trading
te"hnology&
S'!*e?'!% eC/#"3 !%!3&#&

Building and maintaining your ideal portfolio demands ob#e"tive, dependable
information& 8hare$han (quity Analysis helps satisfy that need by rating sto"$s based on
"arefully sele"ted, fa"t7based measures& And be"ause [email protected] not fo"used on investment
ban$ing, we [email protected] have the same "onfli"ts of interest as traditional bro$erage firms& -his
ob#e"tivity is only one important differen"e in our ratings
T3(e $: ,!"e)$*#e&
1. (vergreen
2. Apple Green
3. (merging 8tar
4. Ugly 'u"$ling
?
5. [email protected] )i"$
6. <annonball
De($&#"$*3 Se*>#,e&
8hare$han is a depository parti"ipant with the ,ational 8e"urities 'epository 2imited
and <entral 'epository 8ervi"es (India) 2imited for trading and settlement of
demateriali9ed shares& 8hare$han performs "learing servi"es for all se"urities
transa"tions through its a""ounts& Ae offer depository servi"es to "reate a seamless
transa"tion platform H e0e"ute trades through 8hare$han 8e"urities and settle these
transa"tions through the 8hare$han 'epository 8ervi"es& 8hare$han 'epository 8ervi"es
is part of our value added servi"es for our "lients that "reate multiple interfa"es with the
"lient and provide for a solution that ta$es "are of all your needs
PRODUCTS AND REEUIRED DOCUMENTS
CLASSIC ACCOUNT
-his a""ount allows the "lient to trade through our website and is suitable for the retail
investor who is ris$7averse and hen"e prefers to invest in sto"$s or who do not trade too
frequently&
Fe!"/*e&4
 :nline trading a""ount for investing in (quity and 'erivatives
 Integration of :n7line trading , 8aving Ban$ and 'emat A""ount
&
 Instant "ash transfer fa"ility against pur"hase 1 sale of shares&
 <ompetitive transa"tion "harges&
 Instant order and trade "onfirmation by (7mail&
 8treaming Iuotes&(<ash 1 'erivatives)
 )ersonali9ed mar$et wat"h&
 8ingle s"reen interfa"e for <ash and derivatives and more&
 )rovision to enter pri"e trigger and view the same online in mar$et wat"h&
C
SPEEDTRADE
8)(('-%A'( is an internet7based software appli"ation that enables you to buy and sell
in an instant&
It is ideal for a"tive traders and #obbers who transa"t frequently during day6s session to
"apitali9e on intra7day pri"e movement&
Fe!"/*e&4
 Instant order (0e"ution and <onfirmation&
 8ingle s"reen trading terminal& (,8( A,' B8( B:-F)
 %eal7time streaming quotes, ti"7by7ti" "harts&
 Mar$et summary (<ost traded s"rip, highest value et"&)
 Fot $eys similar to bro$ers terminal&
 Alerts and reminders&
 Ba"$7up fa"ility to pla"e trades on 'ire"t )hone lines&
DIAL5N5TRADE
Along with enabling a""ess for your trade online, the <2A88I< and 8)(('-%A'(
A<<:U,- also gives you our 'ial7n trade servi"es& Aith this servi"e, all you have to do
is dial our dedi"ated phone lines 7?BB7!!7>B4B&
IPO O%5#%e
Jou "an apply all the forth"oming I): online hasselfree&

CHARGE CLASSIC ACCOUNT SPEEDTRADE
ACCOUNT
S(e,#! *!"e $:
A,,$/%" O(e%#%) %s& >4B=7 %s& BBB=7
!B
M$%"'3
C$11#"1e%" C'!*)e
%s& ,I2 %s& 4BB=KL
R!"e $:
2*$?e*!)e&
Intraday7B&B4M
'elivery7B&4M
Intraday7B&B4M
'elivery7B&4M
 %efundable in "ase the bro$erage is more than %s& 4BB=K p&m& :r quarterly
generated bro$erage to be 4BB=7&
 -a0es as per govt&
De($&#"$*3 C'!*)e&
A""ount :pening <harges %s& ,I2
Annual Maintenan"e <harges %s& ,I2 first year
%s& 3BB=K p&a& from se"ond year onward
P*$-/," -e"!#& !*e 1e%"#$%e- 0e$<4 5
 :nline and :ffline -rading
O%#%e T*!-#%)4
(!+ CLASSIC ACCOUNT; A=< :pening "harges; %s& >4B=K(life time "harges)
DEMAT AFC :*ee :$* :#*&" 3e!* and %s&3BB from !nd year
onward& (Maintenan"e "harges) -rading through website
2ive terminal&
,o bro$erage "ommitment required&
,8( and B8( online&
Both <ash 1 /1:&
(0+ SPEED TRADE ; A""ount :pening /ee; %s& BBB=7Both <ash 1 /1:&
M$%"'3 Re,/**#%) Fee;
2*$?e*!)e 4
!
B&B.M )lus -a0es for (a"h leg of Intra7day trade
B&.B M )lus -a0es for trades resulting in delivery
EBPOSURE ; 3 -: 5&5 -IM(8 (:, MA%GI, M:,(J)
:nline I):@s available
T#e /( <#"' T<e>e 0!%?& #.e. HDFC= O2C= ID2I= U2I= CITI =ICICI=2ANK OF
INDIA=YES 2ANK= UTI 0!%? :$* $%#%e 1$%e3 "*!%&:e*.
DOCUMENTS4
P'$"$ ID P*$$: Re&#-e%,e P*$$:
• )assport
• )an <ard(Mandatory)
• 'riving 2i"en"e
[email protected] I'
• )assport(valid)
[email protected] I'
• 'riving 2i"en"e (valid)
• Ban$ 8tatement (latest)
• -elephone Bill (latest)
• (le"tri"ity Bill (latest)
• %ation <ard
• /lat Maintenan"e Bill (latest)
• Insuran"e )oli"y (latest)
• 2eave72i"en"e=)ur"hase
Agreement(latest)
• ; P'$"$)*!('&
• 1 C'eC/e $: R&[email protected]% F!>$/* $: S'!*e?'!% L"-
O*
• 1 C'eC/e $: R&.1777FGI% F!>$/* $: S'!*e?'!% L"-
• P!% ,!*- #& 1/&"
!!
2RANCHES ALL OVER INDIA

!.
CAPITAL MARKET IN INDIA
Capital market facilitates the free trading (buy and sell) in all securities.
it has two mutually supporting and invisible segments, these are
1. Primary market
2. econdary market
PRIMARY MARKET
!n the primary market companies issue new securities to raise funds.
hence it also referred as new issue market. in primary market companies
interact with investors directly.
Primary capital market is responsible for the sale of new securities. "ew
or listed companies may make the public issues of shares. #he initial
public offering (!P$) are the public issues of securities by new companies
for the first time.
!n the !P$%s or public offerings by the establish companies, securities are
sold to the public&all individuals and institutional investors.
'(uity and debt are the two basic instruments of raising capital from the
primary markets.
Companies in practice offer a number of variations of e(uity and debt
securities. they include)
$rdinary shares
Preference shares
*ebentures + bonds
Convertible debentures
ecurities with options to buy or sell i.e. *erivative securities
,orrowings from financial institutions.
SECONDARY MARKET
#he secondary market deals with the second hand securities i.e.
securities that have already been issued by companies that are listed in
stock e-change. econdary market is also called the Stock market or
Stock exchange.
!3
#he secondary market, based on all available information, determines
the price and risk of the issued securities. !t provides useful signals to
both listed companies and investors to act in the primary markets.
. stock e-change provides the following useful economic functions)
/elp determining fair prices based on demand and supply forces
and all available information.
Provide easy marketability and li(uidity for investors.
0acilitate in capital allocations in primary markets through price
signaling.
'nables investors to ad1usting portfolios of securities.
!ndia has one of the oldest stock markets in asia,vi2., the ,ombay stock
e-change(,').,' was established in 1345.later on, many more stock
e-change were established in other !ndian cities like
.hmedabad, kolkata, madras, kanpur etc.#he number has now increased
up to 25.
/owever in terms of business activities, the two most prominent all !ndia
stock e-changes are the Bombay Stock Exchange(BSE) and National
Stock Exchange(NSE)."' was set up in 6une 1778."' started the
screen-base traing in !ndia which has been now adopted by ,' and
other stock e-changes as well.
DEPOSITORY AND DIPOSITORY PARTICIPANTS
. e!ository holds shares in demateriali2ed (*'9.#) form and maintains
ownership. .ll transactions take place through computers without paper
work.
. e!ository is an organisation where the securities of a shareholder are
held in the electronic form at the re(uest of the shareholder through the
medium of depository participant. . depository can be compared to a
bank. !f an investor wants to utilise the services offered by a depository,
the investor has to open an account with the depository through
depository participant. #his is very similar to the opening of an account
!4
with any of the branches of a bank in order to utilise the services of that
bank.
!n !ndia there are two depositories&NS"# and $"S# and they compete
with each other.
"e!ository %artici!ant ("%) is an agent of the depository, who is the
interacting medium between the depository and the investor. . *P is
responsible for maintaining your securities account and handling the
securities account in accordance with your written instructions.
'very depository participant is registered through either of depositories
i.e. "*: or C*:./.;'</." ltd is registered through "*: as well as
C*:.
!5
'I):8I-:%J
< ' 8 2
')s
(8FA%(*FA,)
, 8 ' 2
OPERATIONS OF NSDL
"*: has been established with a view to provide holding of securities in
the electronic form and settlement of trades done for these electronic
holdings. .s re(uired by the .ct, "*: is responsible to every investor
who holds electronic balances with the depository. #he depository
participant acts an agent of "*: for providing its services to the
investors.
"*: has designed the software for the operating systems in such a way
that the software systems at the depository and the depository
participant office are connected. #hus, a highly integrated set up for
maintenance of investor accounts through the depository participants has
been developed and implemented. "*: has access to all the accounts of
individual investors maintained by the depository participants to ensure
ade(uate control.
#he operating system of "*: also maintains continuous electronic
connectivity with the registrar and transfer agents of the companies
whose securities can be dematerialised in "*:. #his is done in order to
perform a daily reconciliation of all the account balances held with "*:
=hen a company signs an agreement with "*: for offering its investors
an option of dematerialised mode of holding, physical as well as
depository mode of securities co&e-ist and are traded on the stock
e-changes separately as two distinct securities.
OPERATIONS OF CDSL
Central *epository ervices (!ndia) :imited (C*:), the second depository
in !ndia, is set up to meet the ob1ectives of the *epositories .ct, 177>.
C*: secured its certificate for commencement of business on 0ebruary
3, 1777 from ',!. #he depository system offers an efficient transfer
mechanism by interfacing with the stock market and related clearing
operations. .lankit .ssignments :td., as a depository participant of C*:,
offers services at competitive rates to investors, brokers + issuers of
securities through this depository as well.
&b'ecti(es
#he main ob1ectives of C*: are)
• #o accelerate scripless trading
!>
• #o make a ma1or thrust in the individual investors? participation in
the depository system
• #o create a competitive environment and be responsive to users?
interest and concerns.
TRADING AND SETTLEMENT
!nvestors can carry out their operations (buying & selling) of securities
through brokers and sub&brokers. ,uying and selling of shares is an
agreement between the brokers and sub&brokers and the client
(investors) once the client has filled in the client registration. #he broker
charges a fee (,rokerage), which is between @[email protected] and 1A of the value of
transaction.
. broker is an enrolled member of a stock e-change who is authori2ed to
the stock e-change trade.
Sub-brokers are affiliated to the members (brokers) of the stock
e-change and registered with ',! as sub&brokers.
ON5LINE SHARE TRADING
#he trading on stock e-changes in !ndia used to take place through open
outcry without use of information technology for immediate matching or
recording trades. #his was time consuming and inefficient. #his imposed
limits on trading volumes and efficiency.
!n order to provide these "' introduced a nationwide online fully
automated screen&based trading system where a member can punch into
the computer (uantities of securities and the price at which he likes to
transact and the transaction is e-ecuted as soon as it finds a matching
sale or buy order from a counter party.
#he premier stock e-changes of the country, ,' and "', have both
moved to electronic trading from the traditional outcry system. #ata
Consultancy ervices has helped both the e-changes make the change.
TECHNOLOGY AT BSE AND NSE
!?
NSE
#ata Consultancy ervices is providing a total turnkey solution for the
money market and capital market?s floorless trading system.
#he aim was to enable "' to provide nation&wide electronic trading
with highest transparency in the market place. Bsing the client&server
architecture, fault&tolerant computing and in&memory database gives "'
high visibility and impact.
#ata Consultancy ervices also developed the local and nationwide
clearing and settlement system to run in $racle ;*,9 environment. 0or
the year [email protected]@1&[email protected]@2 the "ational ecurities Clearing and ettlement
system ("C) processed settlements for over 142 million trades with a
turnover of around ;s 5,@3,121 crore. #ata Consultancy ervices also
developed the trading, clearing and settlement system for "'?s futures
and options segment. !n the year [email protected]@1&[email protected]@2, nearly 8.2 million contracts
were traded on "' 0+$ system with a notional turnover of ;s 1,@1,725
crore.
BSE
,$:# i.e., ,'?s online trading system, the screen&based trading system
replaced the manual out&cry method of trading in the ring and went live
on 9arch 1775.
#his enabled ,' to provide floorless and fully automated screen&based
trading facilities in capital market (C9) instruments with e(ual access to
investors all over the country.
Currently, ,' with around >35 members, has seen an average daily
turnover of ;s 1,1>2 crore in 6uly [email protected]@2.
0or further e-pansion of its activities, ,' decided to provide web&based
trading facility to the members as it was felt that !nternet trading would
fundamentally change the way e-change and brokers interact with their
customers. o a system developed that is (,' =ebC) with the ob1ective
of enabling the e-change to service its members and the customers of
the members in an efficient and cost&effective manner using the
!nternet.
DEMATERIALISATION OF SHARES
!C
*ematerialisation is a process by which the physical certificates of an
investor are taken back by the Company and e(uivalent number of
securities are credited in the electronic holdings of that investor. #his is
done at the re(uest of the investor. .n investor will have to first open an
account with a depository participant and then re(uest for the
dematerialisation of his certificates through the depository participant so
that the dematerialised holdings can be credited into that account.
*ematerialisation of shares in !ndia was introduced in 1773."ow almost
[email protected]@ A trades are settled in demat form. #he growth of demateriali2ation
in !ndia has been the fastest in emerging capital market and most
developed markets.
0eatures of demateriali2ation)
0all in settlement and other charges.
"o stamp duty
,readth and depth of investment culture has further got e-tended
to interior areas of the country faster.
'-plicit transaction cost has been falling.
!ncreased growth in turnover.
STOCK AND STOCK MARKET
WHAT IS STOCK
. stock, also referred to as a share, is commonly a share of ownership in
a corporation.
tock is the ownership of a corporation represented by shares that are a
claim on the corporation%s earnings and assets. #here are many kinds
of stocks, the most widely known being C$99$" #$C<, which
usually entitles a stockholder to vote in the election of directors and
other corporate matters.
!magine that you own a business. !f you were to divide that business up
into small pieces and sell those pieces, you would essentially have issued
stock.
#he money you raise from selling those DpiecesD of your business can be
used to build new plants and facilities, pay down debt, or ac(uire
another company. . smart owner will keep at least 51A of the stock,
which will allow them to retain control of the day to day activities. .ny
person or institution that owns over a ma1ority of the stock is called the
)controlling shareholer). 'ssentially, this person can do anything they
want & right down to firing the C'$.
.B
WHAT IS STOCK MARKET
tock market is known as the cradle of capitalism. !t is a place where
companies come to raise their share capital and investors go to invest
their surplus funds.
tock 9arket is a place where financial instruments like shares,
debentures, commercial papers, bonds etc are bought and sold. tock
markets are popularly known as stock e-changes. #here are many
popular stock markets in the world. ".*E, #okyo tock '-change,
:ondon tock '-change are the most popular of the lot. #here are many
participants in a stock market. !nvestors, peculators, .rbitrators,
#raders are different type of participants of a tock 9arket. ,rokers are
intermediaries who bring together various participants in a tock 9arket.
FUNCTION OF STOCK MARKET
. stock market (also known as a stock e-change) has two main functions.
*. #he first function is to provide companies with a way of issuing shares
to people who want to invest in the company.
**. #he second function of the stock market, related to the first, is to
provide a (enue for the buying and selling of shares.
9ost important function of the stock market is to facilitate trading of
financial instruments. ,rokers submit a (uote at the stock market on
behalf of their clients. Euotes are specific to the scrip. #he (uote of
the buyer is matched to the (uote of the seller and the transaction takes
place.
.ll transactions entered in a stock market are guaranteed by the tock
'-change. #hat means if the buyer or seller fails to meet his obligation,
the stock e-change steps in and meets the commitment of the
participant. #his instills a lot of confidence and credibility about the
sanctity of the transaction amongst the investing public. #hat is the
reason why a stock e-change is preferred by investing public to a gray
market in shares even though the latter has much lower transaction cost.
.ll the participants in the stock market have the same ob1ective i.e. to
make a profit. !nvestors invest in the stock market with the hope that
market value of their investment will go up and they will be able to make
higher returns than in bank deposits. .rbitrages buy in one market and
sell in another market with an ob1ective of making a profit
.
INDIAN STOCK MARKET
I%-#!% S"$,? M!*?e" O>e*>#e<
-he Bombay sto"$ e0"hanges (B8() and the ,ational 8to"$ (0"hange of India 2td
(,8() are the two primary e0"hange in India& In addition, there are !? %egional 8to"$
(0"hanges Fowever, the B8( and ,8( have established themselves as the two leading
e0"hanges and a""ount for about ?BM of the equity volume traded in India&
-he average daily turnover at the e0"hanges has in"reased from %s& ?4 "rore in CC>7C?
to %s& ,!?3 "rore in CC?7CC and further to %e& !!>. "rore in CCC7!BBB (April7 August
CCC)& ,8( has around 4BB shares listed with a total mar$et "apitali9ation of around %s&
C!4BB "rore (%s& C!4 Bln)& -he B8( has over 5BBB sto"$s listed and has a mar$et
"apitali9ation of around %s& C5?BBB "rore (C5?B Bln)& Most $ey sto"$s are traded on both
the e0"hanges and hen"e the investor "ould buy them on either e0"hange& Both e0"hanges
have a different settlement "y"le, whi"h allows investors to shift their positions on the
.!
bourse& -he primary inde0 of B8( is B8( 8ense0 "omprising .B sto"$s& ,8( has the
81) ,8( 4B inde0 (,ifty), whi"h "onsists of fifty sto"$s&
-he B8( 8ense0 is the older and more widely followed inde0& Both these indi"es are
"al"ulated on the basis of mar$et "apitali9ation and "ontain the heavily traded shares
from $ey se"tors& -he mar$ets are "losed on 8aturdays and 8undays& Both the e0"hanges
have swit"hed over from the open out"ry trading system to a fully automated
"omputeri9ed mode of trading $nown as B:2- (B8( :nline -rading) and ,(A-
(,ational (0"hange Automated -rading) 8ystem& It fa"ilitates more effi"ient pro"essing,
automati" order mat"hing, faster e0e"ution of trades and transparen"y&
-he 8"ripts traded on the B8( have been "lassified into NA6, NB6, NB!6, N<6, N/6 and NO6
groups& -he NA6 group shares represent those, whi"h are in the "arry forward system
(Badla)& -he N/6 group represents the debt mar$et (fi0ed in"ome se"urities) segment& -he
NO6 group s"ripts are the bla"$listed "ompanies& -he N<6 group "overs the odd lot
se"urities in NA6, NB61 NB!6 groups and %ights renun"iations& -he $ey regulator
governing 8to"$ (0"hanges, Bro$ers, 'epositories, 'epository parti"ipants, Mutual
/unds, /IIs and other parti"ipants in Indian se"ondary and primary mar$et is the
8e"urities and (0"hange Board of India (8(BI) 2td&
..
A2OUT NSE
-he ,ational 8to"$ (0"hange of India 2imited has genesis in the report of the Figh
)owered 8tudy Group on (stablishment of ,ew 8to"$ (0"hanges, whi"h re"ommended
promotion of a ,ational 8to"$ (0"hange by finan"ial institutions (/Is) to provide a""ess
to investors from all a"ross the "ountry on an equal footing& Based on the
"ommendations, ,8( was promoted by leading /inan"ial Institutions at the behest of the
Government of India and was in"orporated in ,ovember CC! as a ta07paying "ompany
unli$e other sto"$ e0"hanges in the "ountry&
:n its re"ognition as a sto"$ e0"hange under the 8e"urities <ontra"ts (%egulation) A"t,
C45 in April CC., ,8( "ommen"ed operations in the Aholesale 'ebt Mar$et (A'M)
segment in +une CC3& -he <apital Mar$et ((quities) segment "ommen"ed operations in
,ovember CC3 and operations in 'erivatives segment "ommen"ed in +une !BBB&
NSE G*$/(
NSCCL
IISL
NSE.IT
NSDL
D$"ED I%". L"-.
.3
A2OUT 2SE
-he 8to"$ (0"hange, Mumbai, popularly $nown as H2SEH was established in ?>4 as
HT'e N!"#>e S'!*e !%- S"$,? 2*$?e*& A&&$,#!"#$%H. It is the oldest one in Asia, even
older than the -o$yo 8to"$ (0"hange, whi"h was established in ?>?& It is a voluntary
non7profit ma$ing Asso"iation of )ersons (A:)) and is "urrently engaged in the pro"ess
of "onverting itself into demutualised and "orporate entity& It has evolved over the years
into its present status as the premier 8to"$ (0"hange in the "ountry& It is the first 8to"$
(0"hange in the <ountry to have obtained permanent re"ognition in C45 from the Govt&
of India under the 8e"urities <ontra"ts (%egulation) A"t, C45&
-he (0"hange, while providing an effi"ient and transparent mar$et for trading in
se"urities, debt and derivatives upholds the interests of the investors and ensures redressal
of their grievan"es whether against the "ompanies or its own member7bro$ers& It also
strives to edu"ate and enlighten the investors by "ondu"ting investor edu"ation programs
and ma$ing available to them ne"essary informative inputs&

A Governing Board having !B dire"tors is the ape0 body, whi"h de"ides the poli"ies and
regulates the affairs of the (0"hange& -he Governing Board "onsists of C ele"ted
dire"tors, who are from the bro$ing "ommunity (one third of them retire ever year by
rotation), three 8(BI nominees, si0 publi" representatives and an (0e"utive 'ire"tor 1
<hief (0e"utive :ffi"er and a <hief :perating :ffi"er&
-he (0e"utive 'ire"tor as the <hief (0e"utive :ffi"er is responsible for the day7to7day
administration of the (0"hange and the <hief :perating :ffi"er and other Fead of
'epartments assist him&
-he (0"hange has inserted new %ule ,o&!5 A in its %ules, Bye7laws 1 %egulations
pertaining to "onstitution of the (0e"utive <ommittee of the (0"hange& A""ordingly, an
(0e"utive <ommittee, "onsisting of three ele"ted dire"tors, three 8(BI nominees or
publi" representatives, (0e"utive 'ire"tor 1 <(: and <hief :perating :ffi"er has been
"onstituted& -he <ommittee "onsiders #udi"ial 1 quasi matters in whi"h the Governing
Board has powers as an Appellate Authority, matters regarding annulment of transa"tions,
admission, "ontinuan"e and suspension of member7bro$ers, de"laration of a member7
bro$er as defaulter, norms, pro"edures and other matters relating to arbitration, fees,
deposits, margins and other monies payable by the member bro$ers to the (0"hange,et"&
.4
SIOT ANALYSIS OF ONLINE SHARE TRADING
S"*e%)"'&
-he [email protected] framewor$ of online share trading offers retail investors the three
benefits of transparen"y, a""ess and effi"ien"y& )aperwor$ diminishes signifi"antly, and
no more painful trips to your bro$er to "he"$ if [email protected] in order& :nline trading has
made it possible to universali9e a""ess to retail investors& -his was earlier very diffi"ult,
as the "ost of servi"ing often7outweighed transa"tion volumes& :nline bro$erage ranges
between B&B47B&!B per"ent of the value of transa"tions for non7delivery7based trades, and
between B&!47B&C4 per"ent for delivery7based trades& :n"e ma#or investments in online
infrastru"ture are over and done with 7 and with the e"onomies of s"ale "oming into play
7 it is e0pe"ted that bro$erage rates would head further downwards&
A""ess to online trading and latest finan"ial happenings, apart from quotes and unbiased
investment analyses, all "onsolidate into a value7added produ"t mi0 in tandem with
evolving mar$ets that are freer and fairer& -he ,et result; An inquisitive, informed and
demanding investor& [email protected] investor is more involved in managing his or her assets and
analy9ing a vast array of investment options& -e"hnology and [email protected] enabled investor
have, in turn, driven "ompetition, resulting in redu"ed "osts of trading, transparen"y in
dealings, and pri"ing info that is a""urate and real7time& More and more investors now
want to $now how their trades are e0e"uted, and whether they have re"eived the best
possible pri"e& <riti"al "omponents of e0e"ution quality in"lude the pri"es at whi"h
orders were e0e"uted as well as the speed of e0e"ution& -he quality of e0e"ution, in turn,
hinges on effi"ient order routing& Ae owe this to our investor fraternity&
T'*e!"&
:n to some threat per"eption 7 'omesti" funds, foreign institutional investors and
operators "omprise the three main mar$et "onstituents& And all three in"lude term
investors as well as opportunists in their pe"$ing order& 8ome, for instan"e, hit"h their
fate with what the /IIs are up to& All this spells spurting volumes& But nobody gives a
damn about the resultant volatility& And some, not all, offer free investment advi"e over
the ,et to lure roo$ie investors with misleading information& )ri"es of s"ripts "an also be
influen"ed to the advantage of vested interests, "ourtesy the ,et& Unli$e in the U8,
sto"$bro$ers out here willingly (or under the for"e of "ir"umstan"e) assume the role of
[email protected], sans the neutral, non7vested stan"e&
Ie!?%e&&e&
(very thing in the world has a flip side to it 7 -ransa"tion velo"ity is "ru"ial& And more
often than not, "onne"tions are lousy& [email protected] also a degree of investor s$epti"ism about
online payment and settlement me"hanisms in spite of all the en"ryption and fire walling
brought into play& -ime and te"hnology will soon assuage these "on"erns, whi"h har$
ba"$ to the Pphysi"[email protected] days&
.5
Q-he three main te"hnology obsta"les whi"h have prevented Internet bro$ing from ta$ing
off are;
• 2a"$ of Internet penetration
• Bandwidth infrastru"ture
• )oor quality of I8) infrastru"ture&R
O(($*"/%#"#e&
Jou have some money to dabble with& -rading shares on B8(=,8( has always been your
dream& Ahen will you ever find the timeS And besides, the hassle of finding a bro$er is
not easy& -his is your main opportunity&
%eali9ing there is untapped mar$et of investors who want to be able to e0e"ute their own
trades when it suits them, bro$ers have ta$en their trading rooms to the Internet& *nown
as online bro$ers, they allow you to buy and sell shares via Internet&
-here are ! types of online trading servi"e; dis"ount bro$ers and full servi"e online
bro$er. 'is"ount online bro$ers allow you to trade via Internet at redu"ed rates& 8ome
provide quality resear"h, other don6t& /ull servi"e online bro$erage is lin$ed to e0isting
bro$erages& -hese bro$ers allow their "lients to pla"e online orders with the option of
tal$ing= "hatting to bro$ers if advi"e is needed& Bro$erage rates here are higher&
4)aisa&"om, I<I<I'ire"t&"om, IndiaBulls&"om, 8hare$han&"om, Geo#it se"urities&"om,
F'/<se"&"om, -atatdw&"om, *ota$street&"om are some of the online bro$ing sites in
India&
And daily trading turnover is estimated in the vi"inity of B&>4 per "ent of the "ombined
B8( and ,8( daily turnover of about %8 ,BBB "roreTTT -he point is, [email protected] tremendous
s"ope for growth& (spe"ially when you "onsider the U8, where trading over the ,et
a""ounts for about 44 per "ent of the total volumes& And, I believe, in some Asian
mar$ets the figures as high as >B per "ent
H/*-e& :$* O%#%e S'!*e T*!-#%)
1. I%"e*%e" :*!/-
In India, we see this $ind of frauds happening in different way due to nature of our
so"iety& Fere when you tal$ to [email protected] staff while buying or selling, he will usually
advise you to buy share whi"h he has bought and plans to dump when pri"e goes up&
Ae have seen enough of )UM) and 'UM) even without help of internet in "ases of
Farshad Mehta boom of CC! and *etan )are$h boom of !BBB (he even had "ult
following with Inde0 of B shares "alled *7B)&
.>
-oday lot of investor6s depending on -E "hannel for re"ommendation about sto"$s to
sell, or buy or hold& <hannels li$e <,B8 offer array of e0perts from e"onomist to bro$ers
to analyst& Most of these people have vested interest in sto"$s they re"ommend and
promote&
:ne of the most "ommon forms of se"urities fraud on the Internet involves an imposter
who attempts to manipulate the pri"e of a sto"$ by disseminating phony press releases or
information, or "reating phony websites& A re"ent e0ample of this s"heme is the hoa0
perpetrated against U8 based, )air Gain -e"hnologies&
;. V$!"##"3 $: I%-#!J& S"$,? M!*?e"&
%e"ent mar$et developments have on"e more fo"used attention on the volatility that has
"ome to "hara"terise India6s sto"$ mar$ets&
Movements in the 8ense0 during the two years have "learly been driven by the behaviour
of foreign institutional investors (/IIs), who were responsible for net equity pur"hases of
as mu"h as U5&5 and U?&4 billion respe"tively in !BB. and !BB3& -hese figures "ompare
with a pea$ level of net pur"hases of U.& billion as far ba"$ as CC5 and net investments
by /IIs of #ust U>4. million in !BB!& In sum, the sudden /II interest in Indian mar$ets in
the last two years a""ount for the two bouts of medium7term buoyan"y that the 8ense0
re"ently displayed.
Given the presen"e of foreign institutional investors in 8ense0 "ompanies and their a"tive
trading behaviour, their role in determining share pri"e movements must be "onsiderable&
Indian sto"$ mar$ets are $nown to be narrow and shallow in the sense that there are few
"ompanies whose shares are a"tively traded& -hus, although there are more than 3>BB
"ompanies listed on the sto"$ e0"hange, the B8( 8ense0 in"orporates #ust .B "ompanies,
trading in whose shares is seen as indi"ative of mar$et a"tivity& -his shallowness would
also mean that the effe"ts of /II a"tivity would be e0aggerated by the influen"e their
behaviour has on other retail investors, who, in herd7li$e fashion tend to follow the /IIs
when ma$ing their investment de"isions&
.?
COMPETITIVE ANALYSIS
T'e M!K$* ,$1(e"#"$*& !*e;
L @(!#&!.,$1
L K$"!?Se,/*#"#e&.,$1
L I%-#! 0/&
L ICICID#*e,".,$1
L HDFC&e,/*#"#e&
@(!#&!
C$1(!%3 2!,?)*$/%-
Indiainfoline was founded in CC4 and was positioned as a resear"h firm& In !BBB e7
bro$ing was started under the brand name of 4 paisa&"om& Apart from offering online
trading in sto"$ mar$et the "ompany offers Mutual funds online& It also a"ts as a
distributor of various finan"ial servi"es i&e& G:I se"urities, <ompany /i0ed 'eposits,
Insuran"e& 2imited ground networ$, present in !B <ities
O%#%e A,,$/%" T3(e&4
 Investor -erminal ; Investors = 8tudents
 -rader -erminal ; 'ay -raders = F,I6s
.C
PRICING FOR RETAIL CLIENTS
I%>e&"$* Te*1#%!
• A,,$/%" O(e%#%) 4 %s 4BB
• De1!" 1
&"
Y*
4 %s !4B
• I%#"#! M!*)#% 4 %s !4BB(<ompulsory)
• M#% M!*)#% Re"!#%!0e 4 %s BBB
V2*$?e*!)e 4
7-rading B&B4M ea"h side D 8-
7'elivery B&4BM ea"h side D 8-
PRICING FOR HNI CLIENTS
T*!-e* Te*1#%!
• A,,$/%" O(e%#%) 4 %s 4BB
• De1!" 1
&"
Y*
4 %s !4B
• I%#"#! M!*)#% 4 %s 4BBB(<ompulsory)
• M#% M!*)#% Re"!#%!0e 4 %s BBB
V2*$?e*!)e 4
-rading B&B4M ea"h side D 8-
'elivery B&4BM ea"h side D 8-
(,egotiable to B&B4M ea"h side 1 B&!4M)
3B
VA,,$/%" A,,e&& C'!*)e&
7 Monthly %s ?BB, ad#ustable against Bro$erage
7 Jearly %s ?BBB, ad#ustable against bro$erage
De! C#%,'e*& >F& @ P!#&!
LC$1(!%3 2!,?)*$/%-
,ot having a very positive image, relatively new in the bro$ing arena, limited networ$
VD$<%"#1e
%e"ent past 4 paisa -rader -erminal (-&-) is e0perien"ing high frequen"y downtime
between . H .;.B p&m due to server load ( as their -&- is feature heavy "ompared to
8peetrade "harting)
VM!%/! A,,$/%"#%)
-he 4 paisa a""ounting system is manualW online fund transfer through ban$ is not
"redited instantly&
2imit is provided (:' for shares sold from '), or "all
8imilarly limit released for shares sold under B-8- is manual
'elay in re"eiving pay7out of "lear funds from trading to Ban$ A""ount
VM#% A,,$/%" 2!!%,e
<on"ept of Min %s ,BBB to be maintained in form of "ash = se"urities to $eep a""ount
a"tive& -his "an be withdrawn only on "losure of a""ount&
KOTAK SECURITIES
C$1(!%3 2!,?)*$/%-4
*ota$ 8e"urities is the sister "on"ern of *ota$ Mahindra ban$& *ota$ 8e"urities limited
is a #oint venture between *ota$ Mahindra Ban$ and Goldman 8a"hs&
3
O%#%e A,,$/%" T3(e&

K$"!? G!"e<!3 A,,$/%" 4
*(A- des$top version, 8ms "harge
%s BB, *(A- premium at %8 4BB
pm, Min margin %s !BBBB

K$"!? V!/e A,,$/%" 4
*(A- des$top version, 8ms "harge
%s >4, *(A- premium at %s 4BB pm,
Min margin %s 4 la$hs

K$"!? P*#>#e)e C#*,e A,,$/%" 4
*(A- premium free, 8ms free, Min
margin %s B la$hs
PRICING OF KOTAK
• A,,$/%" O(e%#%) 4 %s 44B with $ota$ savings a""ount, %s >4B with
margin of %s 4BBBB, otherwise %s !BB&
• De1!" 4 %s .B pm
• M#% M!*)#% Re"!#%!0e 4 %s BBB
• 2*$?e*!)e S!0 I#&e 4 Figher the volume, lower the bro$erage& (ven older
"ustomers (on B&!4M 1 B&3BM) have been moved to
the slab wise stru"ture wef =3=!BB3&
S!0 S"*/,"/*e $: K$"!?
De#>e*3 >$/1e (1 2*$?e*!)e
 X la$h B&4CM Gateway A""
 la$h H 4 la$hs B&44M Gateway A""
 4 la$hs H B la$hs B&34M Gateway A""
 B la$hs H !B la$hs B&.5M Ealue A""&
 !B la$hs H 5B la$hs B&!>M Ealue A""&
 5B la$h H ! <r B&!.M Ealue A""&
 Y ! <r B&?M )rivilege <ir"le
3!
De#>e*3 >$/1e (1 2*$?e*!)e SC/!*e $::
 X!4 la$hs B&B5M both sides Gateway a""
 !4 la$hs H ! <r B&B4M both sides Ealue a""&
 ! <r H 4 <r B&B3M both sides Ealue a""&
 Y 4 <r B&B.M both sides )rivilege a""&
De*#>!"#>e 2*$?e*!)e S!0
De#>e*3 >$/1e (1 D!#3 SC. /( Se""e1e%"
 X ! <r B&B>M both sides B&BCM both sides
 ! H 4&4 <r B&B34M both sides B&B>.M both sides
 4&4 <r H B <r B&B.5M both sides B&B35M both sides
 B <r H !4 <r B&B!>M both sides B&B35M both sides
 Y !4 <r B&B!.M both sides B&B.!M both sides
De! C#%,'e*& >F& K$"!?&"*ee"
VR#)#- A,,$/%" O(e%#%) Te*1&
,o /le0ibility of A=" opening "harges (%s 44B) D <ompulsory margin %s4BBB=7
VN$ C/&"$1#&!"#$% $: ,$11e*,#! Te*1&
,o /le0ibility in 2everage H 'ependent on -ype of A""ount ( 3 to 5 times only)
,o fle0ibility in Bro$erage, driven by slab stru"ture
VM!%3 O"'e* C'!*)e&
%s .B p&m towards ') AM< "harges
3.
') in"oming "harges e0tra, B&B!M
%s ,BBB as retainable Margin to $eep a""ount a"tive
%s !4 per "all after !B "alls for the month
VRe&"*#,"e- A,,e&& "$ Te*1#%! L#?e (*$-/,"
*(A- 'es$top restri"ted distribution on payment of %s 4BB, ,on refundable
INDIA2ULLS
C$1(!%3 2!,?)*$/%-
IndiaBulls is a retail finan"ial servi"es "ompany present in >B lo"ations "overing 5!
"ities& It offers a full range of finan"ial servi"es and )rodu"ts ranging from (quities to
Insuran"e& 34B D %elationship Managers who a"t as personal finan"ial advisors
O%#%e A,,$/%" T3(e
S#)%!"/*e A,,$/%" 4
)lain Eanilla A""ount with fo"us on (quity Analysis& -he equity analysis is a paid
servi"e even for A=" holders&
P$<e* I%-#!0/&4
A""ount with sophisti"ated trading tools, low "ommissions and priority a""ess to %&M
P*#,#%) $: I2 A,,$/%"&
S#)%!"/*e A,,$/%"
V A,,$/%" O(e%#%) 4 %s !4B
V De1!" 4 %s !BB if ):A is signed, ,o AM< for this ')
V I%#"#! M!*)#% 4 ,I2
33
V 2*$?e*!)e 4 ,egotiable
P$<e* I%-#!2/&
V A,,$/%" O(e%#%) 4 %s >4B
V De1!" 4 %s !BB if ):A is signed, ,o AM< for this ')
V I%#"#! M!*)#% 4 ,I2
V 2*$?e*!)e 4 ,egotiable
PAID Re&e!*,'
SCHEME FACILITY
 AebBased77Month74BB 4 Eiew 1 )rint on website
 AebBased77Jear75BBB 4 Eiew 1 )rint on website
 )rint%eport77Month7>4B 4 Eiew 1 )rint on website D B %eports
'elivered
 )rint%eport77Jear7CBBB 4 Eiew 1 )rint on website D B %eports
'elivered
De! C#%,'e*& >F& I%-#!2/&
VPOA :$* C#e%"& DMAT
All shares held by "lient trading with IB are moved to IB )ool A""ount and the same is
shown as a refle"tion in "lient ') a""ount& <harges are levied to move shares from IB
pool A""ount to "lient ') a""ount
VP!#- Re&e!*,' Se*>#,e&
A""ess to an resear"h even for an IB trading a""ount holder is "harged a min of %s 4BB a
month
34
VM!*)#% F/%-#%) '$!D
-he interest on funding starts on leveraged delivery trades from -D day itself Z!M
p&a, on a daily basis
VT'e *$e $: Re!"#$%&'#( M!%!)e*
(a"h %M is loo$ed upon as a revenue generator and he gets a M on business generated
from "lient& -his "an lead to over leveraged (Interest) 1 high frequen"y (Bro$erage)
trading, whi"h may not be in the best interest of the "lient&
ICICI D#*e,"
C$1(!%3 2!,?)*$/%-
I<I<I Aeb -rade 2imited (IA-2) maintains I<I<Idire"t&"om& IA-2 is an Affiliate of
I<I<I Ban$ 2imited and the Aebsite is owned by I<I<I Ban$ 2imited&
A,,$/%" T3(e&
VICICI D#*e," e5#%>e&" A,,$/%" 4
)lain Eanilla A""ount with fo"us on . in advantages& 'ifferentiated in servi"es within
the a""ount
&<ash on spot
!&Margin )lus
)remium -rading interfa"e of I<I<I'ire"t 2in$ is given to 'B< partners and F,I6s
VA,,$/%" O(e%#%) 4 %s >4B
VS,'e1e& 4
/or short periods %s >4B is refundable against bro$erage generated in a qtr& -hese
s"hemes are introdu"ed .73 times a year&
VDe1!"4
35
,I2,
st
year "harges in"luded in A""ount :pening )lus a fa"ility to open additional 3
')6s without
st
yr AM<
VI%#"#! M!*)#% 4 ,il
V2*$?e*!)e
All bro$erage is in"lusive of stamp duty and e0"lusive of other ta0es&
3>
De#>e*3 V$ (e* C"* 2*$?e*!)e M SC/!*e V$ $:: ( 1 2*$?e*!)e MM

 X B la$hs 4 B&>4M
 B la$hs 7 !4 la$hs 4 B&>BM
 !4 la$hs 74B la$hs 4 B&44M
 4B la$hs H <r 4 B&34M
 <r H ! <r 4 B&.4M
 ! <r H 4 <r 4 B&.BM
 Y 4 <r 4 B&!4M
De! C#%,'e*& >F& ICICID#*e,"
VP$$* $%#%e I%"e*:!,e
8low website interfa"e with no real7time quotes "reates a dissatisfa"tion among high
frequen"y traders
VM!*)#% "*!-#%) *e&"*#,"#$%
-he margin trading system is available up to !;34 p&m, with outstanding net positions
under margin segment automati"ally squared off at any time between !;34 H .;.B p&m&
-hus no "ontrol of square off pri"e&
VM$*%#%) T*!-e& I&&/e
Being one of the websites with largest no of after hour orders whi"h are pushed
st
thing
in the morning, "reates a "ho$ing of orders to the e0"hange, "auses delay of
"onfirmations for new order pla"ed during the early morning trades
VRe&"*#,"#$% $: 2TST
-he sale of shares pur"hased is restri"ted to -D day and is not permitted on -D! 'ay&
VN$ e>e*!)e :$* De#>e*3 "*!-e&
'elivery is restri"ted to the total money allo"ated into the trading a""ount&
VN$ :eD#0##"3 $% e>e*!)e $% I%"*!5-!3 "*!-e&
-he leverage of 3 times is available for intra7 day trades&
3?
VRe&"*#,"#$% $: 2!%? A,,$/%"
-he "hoi"e of ban$ is restri"ted to I<I<I Ban$&
VH#)'e* 2*$?e*!)e *!"e& <#"' &!0&
-he delivery bro$erage is pegged at B&>4M and trading at B&BM ea"h side, this ma$es is
very unviable for "ustomers dealing in large volumes& Although progressively the
delivery and trading bro$erage redu"e as volumes go up&
HDFC SECURITIES
C$1(!%3 2!,?)*$/%-
-he F'/< BA,*, F'/< and <hase<apital <apital )artners and their asso"iates
promote F'/< 8(<U%I-I(8 2-'& )ioneers in setting up 'ial7a7share servi"es with the
largest team of -ele7bro$ers
O%#%e A,,$/%" T3(e4
HDFC O%#%e T*!-#%) AF, 4 )lain Eanilla A""ount with fo"us on . in advantage
P*#,#%) $: HDFC A,,$/%"
 A,,$/%" O(e%#%) 4 %s >4B
 De1!" 4
,I2,
st
year "harges in"luded in A""ount :pening
 I%#"#! M!*)#% 4 %s 4BBB=7 for non F'/< Ban$ "ustomers (AIB)
V2*$?e*!)e4
-rading B&B4ML ea"h side D 8-
'elivery B&4BMLL ea"h side D 8-
L %s !4 Min Bro$erage per transa"tion
LL %s ? Min Bro$erage per transa"tion
3C
De! C#%,'e*& >F& HDFC Se,/*#"#e&
VP$$* $%#%e I%"e*:!,e
Apart from having no produ"t to "ater to 'ay7-raders, the hdf"se"&"om website is
plagued with downtime& -he same is "urrently being revamped&
VL!,? $: :$,/& $% 2*$?#%)
-he "ore business of F'/< is Fousing /inan"e and that of F'/< Ban$
Ban$ing&Bro$ing as a business is a small part of the portfolio of finan"ial servi"es and
hen"e the "ommitment to resour"es is limited&
VN$ Le>e*!)e
,o leverage is available to "lients even for Intra7'ay trades, effe"tively all "lients are on
"ash and "arry system&
4B
RESEARCH METHODOLOGY
%esear"h Methodology is the way to systemati"ally solve the %esear"h )roblem is done
s"ientifi"ally& In it we study the various steps that are generally adopted by resear"her in
studying his logi" behind them& It was quite hard to "olle"t primary data by meeting ea"h
individual and interview him=her so I have "olle"ted primary data with the help of
questionnaire& 8e"ondary data was also available to get information about the study& All
the e0e"utives and offi"ial person were quite helpful and provided full support&
'ata was "olle"ted in the following manner;
 Intera"ting with some of the "ustomers of 8hare$han
 By questionnaire see$ing information
 Intera"ting with the employees of 8hare$han
P*#1!*3 D!"!
 Iuestionnaire see$ing information
 Intera"tion with the employees of 8hare$han and with the "ustomer of 8hare$han
Se,$%-!*3 D!"!
-here are following things that have been the sour"e of se"ondary data;
 +ournal
 Maga9ines
 Manual of 8hare$han
 Ael"ome $it of 8hare$han
4
SAMPLING PLAN
Me"'$-$$)3 :$* M!*?e" Re&e!*,'
I divided the entire "ity into 9ones and drew out samples out of ea"h 9one& -he si9e of
samples drawn from ea"h 9one depended on the prospe"tive ness of the parti"ular area&
/or e&g&, if a parti"ular resear"h area "onsisted of :ffi"es then the sample si9e would
obviously be higher than an area li$e 8hopping mall or )E%& -his is be"ause :ffi"e
employees "onstitute the servi"e se"tors that are the a"tive investors of today& Also, the
offi"e areas "onsist of people from the business "lass who have always been in the hunt
for qui"$ money, not to forget that smart and timely investment in the share mar$et "an
yield to enormous returns&
After dividing the "ity into 9ones, the -arget audien"e was probed using Interviews and
questionnaires& -hese were later analy9ed to draw out "on"lusive results&
-he Re&e!*,' A*e! <omprised of the following pla"es;
N$%e A*e!& C$>e*e- S!1(e S#Oe
(ast *ar$arduma 3
Aest )un#abi Bagh !3
,orth 'elhi University 5
8outh Easant *un# !4
Me"'$-$$)3 :$* C/&"$1e* A,C/#&#"#$%
-he leads for "ustomer a"quisition primarily "ame from the questionnaires filled up by
prospe"tive "ustomers& Apart from these "ustomers were also pit"hed through personal
referen"es and "onta"ts& Moreover the organi9ation ta$es every possible effort in order to
spread mass awareness& As a result of this publi"ity "ampaign, influen"ed prospe"tive
"ustomers approa"h the organi9ation& -here are various ways to ma$e people aware about
the organi9ation as su"h Mar$eting %esear"h, <anopy, )ersonal %eferen"es, )op7up
windows having "ollaboration with various portals e&g& %ediffmail&"om et"& )erson with
adequate interest leaves his "onta"t information& 2ater on these leads are "onta"ted
personally for further development& -he organi9ation has effi"ient sales stuff that e0"els
in this #ob& )art time trainees are also appointed for the same& -his wor$ for"e been
perfe"tly supervised by the Managers& -hus all these fa"tors sum up into a result oriented
wor$ for"e& -hese leads were the "onta"ted through tele7"alling and after developing a
relationship, they were pit"hed in at the addresses provided by them& After giving them a
presentation about the produ"t and its advantages over its "ompetitors, they were
promised of a 'emo by "ompany sales for"e in "ase a sale had resulted& Also referen"es
were "olle"ted from su"h people and the same methodology was repeated& /or ea"h and
every "ustomer personal quarries have been entertained after the sale is done&
4!
ANALYSIS . FINDINGS
ANALYSIS OF EUESTIONNAIRE
 I% <'#,' $: "'e&e F#%!%,#! I%&"*/1e%"& -$ 3$/ #%>e&" #%"$P
I%&"*/1e%" F*eC/e%,3 Pe*,e%"
8hares >B 5>&.
Mutual /unds C ?&.
Bonds 5 4&?
:thers C ?&>
T$"! B3 BB&B

PEOPLE IANT TO INVEST INTO
5>&.BM
8hare
?&>BM
:thers 4&?BM
Bonds
?&.BM
Mutual /unds
F#%-#%)&4
-his question was meant to "losely study the pulse and investment pattern in the sto"$
mar$et& It is "learly evident that 5>&.M of the respondents prefer to invest in the share
mar$et to other /inan"ial Instrument&
4.
 I'#,' "3(e $: "*!-#%) -$ 3$/ (*e:e*P

T3(e $: "*!-#%) F*eC/e%,3 Pe*,e%"
:nline >> >3&B
:ffline 5 4&3
,ot Appli"able
B&5
T$"! B3 BB&B

TRADING PEOPLE PREFER
4&3M
:ffline
>3M
:nline
B&5M
,ot Appli"able
F#%-#%)&4
-he result shows that :nline -rading has ta$en the driver6s seat over the "onventional
trading ever sin"e Internet triggered a revolution a"ross the globe& >3M of the
respondents prefer online trading&
 I: 3$/ (*e:e* O%#%e T*!-#%) "'e% "'e *e!&$% :$* #"P
Re!&$%& F*eC/e%,3 Pe*,e%"
)riva"y !B C&!
User /riendly and time saving
!> !5&B
<onvenient !B C&!
All the above ! !B&!
T$"! ?? ?3&5
Missing 8ystem 5 4&3
43
T$"! B3 BB&B

IHY PEOPLE PREFER ONLINE
TRADING
C&!M
)riva"y
!B&!M
All the above
4&3M
Missing
8ystem
C&!M
<onvenient
!5M
User
/riendly and
time saving
F#%-#%)&4
-he preferred "hoi"e of online trading itself is a proven fa"t that !5M of the respondents
find it user friendly, time saving and "onvenient& Fen"e it does not "ome as a surprise as
!BM of the respondents preferred all the options&
 I'!" :!,"$*& 1$"#>!"e- 3$/ "$ #%>e&" #% &e,/*#"#e&P

F!,"$*& F*eC/e%,3 Pe*,e%"
,ew I):@s !4 !3&B
(ntry of /[email protected] C ?&>
More returns in less time 5. 5B&5
:thers > 5&>
T$"! B3 BB&B

44

FACTORS OF INVESTMENT IN
SECURITIES
?&>BM
(ntry of /[email protected]
!3M
,ew I):@s
5&>M
:thers
5B&5M
More return in
less time
F#%-#%)&4
-his question was meant to understand why more and more investors have started
"reeping in the share mar$et as never before& About 5BM of the respondents believe that
there is a possibility in multiplying there money within a short period of time and about
!3M of the respondents is driven by the I):6s issued by potential "ompanies&
 D$e& O%#%e T*!-#%) 1$"#>!"e 3$/ "$ -e! #% &e,/*#"#e&P

Re&($%-e%"& F*eC/e%,3 Pe*,e%"
Jes ?3 ?B&?
,o !B C&!
T$"! B3 BB&B

45
F#%-#%)&4
It is "lear and transparent that :nline -rading has be"ome more "onvenient way to deal in
se"urities as ma#ority (as mu"h as ?M) of the sample population voted for it&
 H!>e 3$/ 'e!*- !0$/" SHAREKHANP

Re&($%-e%"& F*eC/e%,3 Pe*,e%"
Jes ?4 ?!&>3
,o C ?&!5
T$"! B3 BB&B


POPULARITY OF SHAREKHAN
?!M
Jes
?M
,o
F#%-#%)&4
:ut of the total sample si9e surveyed, 8FA%(*FA, has its sli"e of share, as it is
familiar and popular among ?!M of the total sample population& Fen"e 8hare$han is a
well heard off name among the investors&

4>
 I'#,' 0*$?e*!)e :#*1 -$ 3$/ (*e:e* :$* $%#%e "*!-#%)P

2*$?e*!)e F#*1& F*eC/e%,3 Pe*,e%"
I<I<I 'ire"t 3 .&4
8hare$han !> !5&B
Indiabulls !. !!&
*ota$ 8e"urities ! !B&!
4 )aisa ? >&.
F'/< 8e"urities &B
T$"! B3 BB&B


EFFECTIVENESS OF SHAREKHAN
AMONG ITS COMPETITORS
!5M
8hare$han
.&4M
I<I<I 'ire"t
M
F'/<
>&.M
4 )aisa
!B&!M
*ota$
8e"urities
!!&M
Indiabulls
F#%-#%)&4
-his question was framed to understand the effe"tiveness of share$han among its
"ompetitors& -he push and pull fa"tor wor$ed out well for 8hare$han as it grabbed !5M
of the mar$et share out of the total people surveyed& But the survey also reveals an
interesting point that there is not mu"h variation among the players in terms of investors6
"onsideration for a bro$erage firm&
4?
 I'!" -#::e*e%"#!"e& 3$/* &'!*e "*!-#%) ,$1(!%3 :*$1 $"'e*&P

F*eC/e%,3 Pe*,e%"
Bro$erage .! .B&?
%esear"h %eport 4 3C&B
'ial up -rade fa"ility ? >&>
(0posure . !&C
A""ount opening "harges > 5&>
:thers . !&C
T$"! B3 BB&B

Brokerage
Research Report
Dial up Trade facility
Exposure
Account opening charges
Others
0
10
20
30
0
!0
"0
F
r
e
q
u
e
n
c
y
31#
$#
?
M
M
3#
"#
.
M
M
F#%-#%)&4
-his question was framed to read the mind of an investor& -he survey reveals that
investors have be"ome more analyti"al and rationale over the period of time as they have
"ompelled themselves to ta$e de"isions on the basis of pre and post mar$et resear"h
reports offered to them at regular intervals& Also to some e0tent investors loo$ in for the
bro$erages "harged by the trading firm while other options were hardly "onsidered as pre
requisites for online trading&
4C
 H$< $:"e% -$ 3$/ "*!-eP

D/*!"#$% F*eC/e%,3 Pe*,e%"
'aily 4. 4&B
Aee$ly . !C&?
Monthly > 5&>
Jearly . !&4
T$"! B3 BB&B

DURATION OF TRADE
4M
'aily
!M
Jearly >M
Monthly
.BM
Aee$ly
F#%-#%)&4
-his shows that how sto"$ mar$et has swept the nation as a whole& Most of the investors
prefer daily and wee$ly trading to $eep a wat"h on the volatility of the sto"$ mar$et so as
to ta$e de"isions a""ordingly&
5B
 I% <'#,' ,!"e)$*3 -$e& 3$/* #%,$1e :!P ()er month in %s&)

R&. Pe* M$%"' F*eC/e%,3 Pe*,e%"
B74BBB !5 !4&B
4BBB7.4BBB 5 4?&>
.4BBB75BBBB > 5&.
T$"! B3 BB&B

MONTHLY INCOME OF THE
RESPONDENTS
!4M
B 7 4BBB
4CM
4BBB 7 .4BBB
5M
.4BBB 7
5BBBB
F#%-#%)&4
)eople from different "ategories of in"ome group have ta$en their "han"e to invest in the
booming sto"$ mar$et& -he upper middle and middle "lass (in"ome "ategory ranging
from 4BBB H .4BBB) people have ta$en the primary seat as far as the number of people
involved in trading is "on"erned&
 I'!" (e*,e%"!)e $: 3$/* e!*%#%) -$ 3$/ #%>e&" #% &'!*e "*!-#%)P

F*eC/e%,3 Pe*,e%"
Up to BM 3B .?&35
Up to !4M .4 ..&54
Up to 4BM 4 3&3!
Above 4BM 3 .&35
T$"! B3 BB&B
5

F#%-#%)&4
About >BM of the respondents feel that not more than !4M of their earning will be
pushed into the mar$et that "learly signifies that how volatility in the sto"$ mar$et "an
influen"e the investors&
 R!%? "'e !""*#0/"e “,/&"$1e* &e*>#,e” $: ! &'!*e "*!-#%) ,$1(!%3P
F*eC/e%,3 Pe*,e%"
Most Important !> !5&B
Important !3 !.&
,eutral !! !&!
2ess Important ? >&.
,ot Important at all . !&4
T$"! B3 BB&B

5!
F#%-#%)&4
Investors feel that they should be provided with the best of the servi"es in order to
asso"iate themselves with a bro$erage "ompany over a long period of time& Fen"e more
than half of the respondents preferred it to be an important parameter of a bro$erage firm&
 R!%? "'e !""*#0/"e “(*$(e* )/#-!%,e” $: ! &'!*e "*!-#%) ,$1(!%3P

F*eC/e%,3 Pe*,e%"
Most Important 3 .&4
Important 3 .C&3
,eutral !3 !.&
2ess Important ! !B&!
,ot Important at all 3 .&?
T$"! B3 BB&B

PROPER GUIDANCE IS AN
IMPORTANT FACTOR
3BM
Important
.M
Most
Important
3M
,ot Important
!BM
2ess
Important
!.M
,eutral
F#%-#%)&4
More than 4BM of the sample population felt that they require proper guidan"e from the
bro$erage "ompany in order to e0e"ute their operation effe"tively&
5.
 R!%? "'e !""*#0/"e “*e)/!* /(-!"e&” $: ! &'!*e "*!-#%) ,$1(!%3P

F*eC/e%,3 Pe*,e%"
Most Important !B C&!
Important 3 .&4
,eutral > 5&.
2ess Important .4 ..&>
,ot Important at all ? >&.
T$"! B3 BB&B
REGULAR CLAUSE IS AN
IMPORTANT FACTOR
CM
Most
Important
3M
Important
5M
,eutral
.3M
2ess
Important
>M
,ot Important
F#%-#%)&4
8urprisingly about .4 respondents out of the B3 surveyed thought that the regular
updates provided by the "ompany were not that important& :nly .3 of the respondents
felt that the importan"e of regular mar$et updates&
 R!%? "'e !""*#0/"e& “"*/&"<$*"'#%e&&” $: ! &'!*e "*!-#%) ,$1(!%3P

F*eC/e%,3 Pe*,e%"
Most Important B C&5
Important > 5&>
,eutral !? !5&C
2ess Important !4 !3&B
,ot Important at all .3 .!&>
53
T$"! B3 BB

TRUSTIORTHINESS IS THE
IMPORTANT FACTOR
..M
,ot Important
!3M
2ess
Important
!>M
,eutral
5M
Important
BM
Most
Important

F#%-#%)&4
A mere !BM of the respondents "onsider the signifi"an"e of the trustworthiness of the
bro$erage "ompany with whom they have been asso"iated&
 R!%? "'e !""*#0/"e “0*$?e*!)e ,'!*)e” $: ! &'!*e "*!-#%) ,$1(!%3P

F*eC/e%,3 Pe*,e%"
Most Important .5 .3&5
Important 4 3&3
,eutral . !&4
2ess Important 4 3&?
,ot Important at all .4 ..&>
T$"! B3 BB&B

54
F#%-#%)&4
-he bro$erage "harges imposed on the investors ma$es a signifi"ant impa"t on 4BM of
the respondents whereas another .4M felt that this is of no signifi"an"e at all&
 R!%? "'e ,$1(!%3 “SHAREKHAN” !,,$*-#%) "$ "'e C/!#"3 $: &e*>#,eP

F*eC/e%,3 Pe*,e%"
(0"ellent . !C&?
Eery Good !3 !.&
Good !C !>&C
Average > 5&.
Below Average . !&C
T$"! B3 BB&B

EUALITY SERVICE OF
SAHAREKHAN
.BM
(0"ellent
!.M
Eery good
!?M
Good
5M
Average
.M
Below average
F#%-#%)&4
More than half of the sample population was satisfied with the $ind of servi"e that
8hare$han offers its "ustomers&
55
 R!%? "'e ,$1(!%3 “ICICI D#*e,"” !,,$*-#%) "$ "'e C/!#"3 $: &e*>#,eP

F*eC/e%,3 Pe*,e%"
(0"ellent !. !!&
Eery Good 3 .C&3
Good !! !&!
Average > 5&>
Below Average B&5
T$"! B3 BB&B

EUALITY SERVICE OF ICICI
DIRECT
!!M
(0"ellent
.CM
Eery Good
M
Below
Average
>M
Average
!M
Good
F#%-#%)&4
(ven I<I<I dire"t had its share of sli"eW more than ?BM of the respondents is satisfied
with its offering&
 R!%? "'e ,$1(!%3 “INDIA2ULLS” !,,$*-#%) "$ "'e C/!#"3 $: &e*>#,e

F*eC/e%,3 Pe*,e%"
(0"ellent 3B .?&4
Eery Good ! !B&!
Good !5 !4&B
Average ! &4
Below Average 4 3&?
5>
T$"! B3 BB&B

EUALITY SERVICE OF
INDIA2ULLS
.?M
(0"ellent
4M
Below
Average
!M
Average
!4M
Good
!BM
Eery good
F#%-#%)&4
(ven Indiabulls #oined the ratra"e as a handsome >4 Members opted for Indiabulls in this
regard&
 R!%? "'e ,$1(!%3 “KOTAK SECURITIES” !,,$*-#%) "$ "'e C/!#"3 $:
&e*>#,eP

F*eC/e%,3 Pe*,e%"
(0"ellent > 5&>
Eery Good . !&4
Good !3 !.&
Average 4! 4B&B
Below Average ? >&>
T$"! B3 BB&B
5?

F#%-#%)&4
*ota$ 8e"urities was viewed as a low quality servi"e provider as mere !B person voted in
favour of this "ompany as far as servi"e offering was "on"erned&
 R!%? "'e ,$1(!%3 “OTHERS” !,,$*-#%) "$ "'e C/!#"3 $: &e*>#,eP

F*eC/e%,3 Pe*,e%"
(0"ellent . !&C
Eery Good 4 3&?
Good 5 4&?
Average 5 4&3
Below Average >3 >&!
T$"! B3 BB&B

F#%-#%)&4
-his result was very mu"h predi"ted as other bro$erage firms li$e 4 )aisa is still viewed
as low quality servi"e providers as a bul$ of them (about >4) were not in their favour&
5C
FINDINGS
 )eople with an eye for investment prefer to invest in shares&
 -his is mainly due to the fa"t that shares provide high returns in less time&
 )eople investing in shares prefer online trading be"ause of "onvenien"e and time
saving&
 )eople who re"ently started trading were mainly motivated by online share
trading "on"ept&
 8hare$han is a $nown entity in the online business&
 In online share trading bro$erage and resear"h reports are the ma#or "riteria for
sele"ting a bro$ing "ompany&
 4BM of the people are satisfied with 8hare$han&
>B
CONCLUSION
.
RECOMMENDATION
Indian e"onomy has been globali9e and the "apital mar$et has been lin$ed to the
international finan"ial mar$et& /oreign individuals and institutional investors are now
en"ouraged to parti"ipate into it& 8o, there is a need for raising the Indian <apital mar$et
in to the international standards in terms of effi"ien"y and transparen"y& :ne su"h
measure is the passing out of the 'epository A"t during the year CC5& 'emateriali9ation
of se"urities and under this system is one of the ma#or steps aimed at improving and
moderni9ing the "apital mar$et and enhan"ing the levels of investor6s prote"tion
measures whi"h aims at eliminating the bad deliveries and forgery of shares and
e0pediting the transfer of shares&
-hus online share trading is gaining its popularity& -hough it still has to go a long way
but it has established its foothold in the metropolitan "ities li$e 'elhi, Mumbai et"& -he
demateriali9ing of shares "oupled with the huge growth of Internet has been the fuel for
the online trading whi"h is now a "onsiderable part of the total trading&
It "an therefore be said that online share trading is here to stay and will only grow to
bigger proportions and will penetrate deeper into the e"onomy& 8o online trading would
be"ome the order of the day, ta$ing over the traditional norms in the years to "ome&
LIMITATIONS
 Usual sampling errors may e0ist&
 -he universe sele"ted was 'elhi region& 8o the result "annot be generali9ed&
 8ome of the "ustomers may be uninterested and may not have replied "orre"tly&
 %espondent may also be biased due to several reasons&
 8ample si9e was small whi"h may affe"t the reliability of the result&
 Internet fraud
 8till many of Indian "ustomer do not $now to use Internet
>
RECOMMENDATION
 <ompany should invest more in its mar$eting strategies by giving ads in
newspapers, maga9ines, -E "ommer"ials et"&
 -he A""ount opening time ta$en is about > wor$ing days& Improving logisti"s
should redu"e this&
 -he a""ount opening "harges should also be redu"ed to attra"t "ustomers&
 <ustomer "are is not its best at 8hare$han& )rompt "ustomer handling should
improve this&
 8ome of the "ustomers do not get the servi"e promised to them& -here should be a
"he"$ on the promises made&
 /orm should be simplified&
>!
EUESTIONNAIRE
E1. I% <'#,' $: "'e&e F#%!%,#! I%&"*/1e%"& -$ 3$/ #%>e&" #%"$P

(i) 8hares (ii) Mutual /unds (iii) Bonds (iv) :thers
E;. I'#,' "3(e $: "*!-#%) 3$/ (*e:e*P
(i) :nline (ii) :ffline (iii) ,ot Appli"able
E8. I: 3$/ (*e:e* O%#%e T*!-#%) "'e% "'e *e!&$%& :$* #"P
(i) )riva"y (ii) User friendly 1 -ime 8aving
(iii) <onvenien"e (iv) All -he Above
E4. I'!" :!,"$*& 1$"#>!"e& 3$/ "$ #%>e&" #% &e,/*#"#e&P
(i) ,ew I):@s (ii) (ntry of /[email protected]
(iii) More returns in less time (iv) :thers
[email protected] D$e& $%#%e "*!-#%) &3&"e1 1$"#>!"e 3$/ "$ -e! #% &e,/*#"#e&P
(i) Jes (ii) ,o
E9. H!>e 3$/ 'e!*- !0$/" S'!*e?'!%P
(i) Jes (ii) ,o
EA. I'#,' 2*$?e*!)e F#*1 -$ 3$/ (*e:e* :$* O%#%e T*!-#%)P
(i) I<I<I 'ire"t (ii) 8hare*han (iii) Indiabulls
(iv) *ota$ 8e"urities (v) 4paisa (vi) Any other[[[[[[[[[[
E8. I'!" -#::e*e%"#!"e& 3$/* S'!*e T*!-#%) C$1(!%3 :*$1 $"'e*&P

(i)Bro$erage (ii) %esear"h %eport (iii) 'ial up trade fa"ility
(iv)Maga9ine (v) (0posure (vi) A""ount opening "harges
(vii) :ther
E9. H$< $:"e% -$ 3$/ "*!-eP
(i) 'aily (ii) Aee$ly (iii) Monthly (iv) Jearly
>.
E17. I% <'#,' ,!"e)$*3 -$e& 3$/* #%,$1e :!P (Pe* 1$%"' #% R&+
i) B74BBB ii) 4BBB H .4BBB iii) .4BBB H 5BBBB iv) Above 5BBBB
E11. I'!" (e*,e%"!)e $: 3$/* e!*%#%)& -$ 3$/ #%>e&" #% &'!*e "*!-#%)P
(i+Up to BM (ii) Up to !4M (iii) Up to 4BM (iv) Above 4BM
E1;. A,,$*-#%) "$ 3$/* (*e:e*e%,e *!%? "'e !""*#0/"e& $: ! &'!*e "*!-#%) ,$1(!%3.
(1GM$&" I1($*"!%"= @G N$" I1($*"!%" !" !+
& <ustomer 8ervi"e [[[[
!& )roper Guidan"e [[[[
.& %egular Updates [[[[
3& -rustworthiness[[[[
4& Bro$erage <harges[[[[[

E18. R!%? "'e&e &'!*e "*!-#%) ,$1(!%#e& !,,$*-#%) "$ "'e C/!#"3 $: &e*>#,e "'e3
(*$>#-e. (1GED,ee%"= @G Ve*3 ($$*+
& !& .& !+ 8hare$han
0+ I<I<I 'ire"t
3& 4& ,+ India Bulls
-+ *ota$ 8e"urities
e+ :thers ()lease 8pe"ify)

E14. I'!" !--#"#$%! :e!"/*e& -$ 3$/ <#&' "$ '!>e #% O%#%e S'!*e T*!-#%)P
Pe*&$%! I%:$*1!"#$%

N!1e4
A)e4
SeD4 Male /emale
P'$%e N$4
O,,/(!"#$%
>3
2I2LIOGRAPHY
• Se,/*#"#e& M!*?e" (2!&#,+ M$-/e4 55NCFM
• E,$%$1#, T#1e&.
• T*!#%#%) K#" P*$>#-e- 03 "'e S'!*e?'!%.
Ie0&#"e&4
<<<.%&e#%-#!.,$1
<<<.0&e#%-#!.,$1
<<<.'-:,&e,.,$1
<<<.#%-#!#%:$#%e.,$1
<<<.#,#,#-#*e,".,$1
<<<.?$"!?&e,/*#"#e&.,$1
<<<.#%-#!0/&.,$1
<<<.&'!*e?'!%.,$1
2$$?& Re:e*e- 4
 M!*?e"#%) Re&e!*,' 23 G.C 2e*#
 M!*?e"#%) M!%!)e1e%" 23 P'##( K$"e*
 Ie,$1e?#" (M!%/!+ $: S'!*e?'!%
>4

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