Crm

A PROJECT REPORT
ON
CUSTOMER RELATIONSHIP MANAGEMENT
OF ANGEL BROKING
Submitted to University of Mumbai in
Partial fulfilment Of the requirement of the e!ree of
M.COM (BUSINESS MANAGEMENT) PART 1.

Under !uidan"e of
PROF. S.N.CHITALE

SU#JECT
MARKETING STRATEGIES
AND PLANS

$PM% S
&'( Joshi Colle!e of Arts N'( #ede)ar Colle!e of Commer"e
Thane *+,
A"ademi" -ear. /012314
#-

ROHAN SUNIL PATIL

Roll No.57
1
/

DECLARATION
5 am RO6AN SUN57 PAT57 studyin! in MCOM Part31 hereby de"lare that
5 have done a 8ro9e"t on referen"e to CUSTOMER RE7AT5ONS65P
MANA(EMENT O: AN(E7 #RO&5N( As required by the university rules; 5
state that the <or) 8resented in this thesis is ori!inal in nature and to the best
my )no<led!e; has not been submitted so far to any other university'
+henever referen"es have been made to the <or) of others; it is "learly
indi"ated in the sour"es of information in referen"es'
Student
*RO6AN SUN57 PAT57,
Pla"e. Thane
ate.
=
ACKNOWLEDGEMENT
5t !ives me !reat 8leasure to de"lare that my 8ro9e"t on CUSTOMER
RE7AT5ONS65P MANA(EMENT O: AN(E7 #RO&5N( have been 8re8ared 8urely
from the 8oint of vie< of students requirements'
This 8ro9e"t "overs all the information 8ertainin! to CUSTOMER RELATIONSHIP
MANAGEMENT ' 5 had tried my best to <rite 8ro9e"t in sim8le and lu"id manner' 5
have tried to avoid unne"essary dis"ussions and details' At the same time it 8rovides all
the ne"essary information' 5 feel that it <ould be of immense hel8 to the students as <ell
as all others referrin! in u8datin! their )no<led!e'
5 am indebted to our 8rin"i8al r' Mrs' Sha)untala A' Sin!h Madam for !ivin! us
su"h an a<esome o88ortunity' 5 am also than)ful to our "oordinator Mr' 'M'
Murdesh<ar Sir and also librarian and my "ollea!ues for their valuable su88ort; "o3
o8eration and en"oura!ement in "om8letin! my 8ro9e"t'
S8e"ial than)s to Prof. S.N.CHITALE my internal !uide for this 8ro9e"t for !ivin!
me e>8ert !uidan"e; full su88ort and en"oura!ement in "om8letin! my 8ro9e"t
su""essfully'
5 ta)e this o88ortunity to than)s my 8arents for !ivin! !uidan"e and for their 8atien"e
and understandin! me <hile 5 am busy <ith my 8ro9e"t <or)'
7astly 5 am than)ful to (od for !ivin! me stren!th; s8irit and also his blessin!s for
"om8letin! my 8ro9e"t su""essfully'
2
CUSTOMER RELATIONSHIP
MANAGEMENT
INDEX
4
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SR.NO CONTENTS PAGE.NO
1' 5NTROUCT5ON TO CRM 0@
/' 65STOR- O: CRM 11
=' O#JECT5$ES O: CRM 1A
2' COMPAN- PRO:57E //
4' PROUCT AN SER$5CES O:
AN(E7 #RO&5N(
/4
?' 5NUSTR- ANA7-S5S =4
@' COMPET5TORS 41
B' S+OT ANA7-S5S 42
A' RECOMMENAT5ONS AN
CONC7US5ON
?/
10' #5#75O(RAP6- ?=
Introduction to CRM
Before we begin to examine the conceptual foundations of CRM,
it will be useful to define, what is CRM? A narrow perspective of
customer relationship management is database marketing
emphasizing the promotional aspects of marketing linked to database
efforts Another narrow, !et relevant, viewpoint is to consider CRM
onl! as customer retention in which a variet! of after marketing
tactics is used for customer bonding or sta!ing in touch after the sale
is made "hani and Chalasani define relationship marketing as #an
integrated effort to identif!, maintain, and build up a network with
individuals consumers and to continuousl! strengthen the network
for mutual benefit of both sides, through interactive, individualized
and value$added contacts over a period of time% &he core theme of all
CRM and relationship marketing perspectives is its focus on co$
operative and collaborative relationships between the firm and its
customers, and'or other marketing actors
CRM is based on the premise that, b! having a better
understanding of the customers( needs and desires we can keep them
longer and sell more to them
)rowth "trategies *nternational +)"*, performed a statistical
anal!sis of Customer satisfaction data encompassing the findings of
over -,.../ customer surve!s conducted b! Angel Broking 0td
CRM +customer relationship management, is an information
industr! term for methodologies, software, and usuall! *nternet
capabilities that help an enterprise manage customer relationships in
an organized wa! 1or example, an enterprise might build a database
about its customers that described relationships in sufficient detail so
that management, salespeople, people providing service, and perhaps
the customer directl! could access information, match customer
needs with product plans and offerings, remind customers of service
re2uirements, know what other products a customer had purchased,
and so forth
@
&he essence of the information technolog! revolution and, in
particular, the 3orld 3ide 3eb is the opportunit! to build better
relationships with customers than has been previousl! possible in the
offline world B! combining the abilities to respond directl! to
customer re2uests and to provide the customer with a highl!
interactive, customized experience, companies have a greater abilit!
toda! to establish, nurture, and sustain long$term customer
relationships than ever before &he ultimate goal is to transform these
relationships into greater profitabilit! b! increasing repeat purchase
rates and reducing customer ac2uisition costs *ndeed, this revolution
in customer relationship management or CRM1 as it is called, has
been referred to as the new #mantra% of marketing2 Companies like
"iebel, 4piphan!, 5racle, Broadvision, 6et 7erceptions, 8ana and
others have filled this CRM space with products that do ever!thing
from track customer behavior on the 3eb to predicting their future
moves to sending direct e$mail communications &his has created a
worldwide market for CRM products and services of 9:; billion in
<=== and which is forecasted b! *>C to grow to 9<?@ billion b! ?..;3
&he need to better understand customer behavior and focus on those
customers who can deliver long$term profits has changed how
marketers view the world
&raditionall!, marketers have been trained to ac2uire
customers, either new ones who have not bought the product categor!
before or those who are currentl! competitors( customers &his has
re2uired heav! doses of mass advertising and price$oriented
promotions to customers and channel members &oda!, the tone of
the conversation has changed from customer ac2uisition to retention
&his re2uires a different mindset and a : different and new set of
tools A good thought experiment for an executive audience is to ask
them how much the! spend and'or focus on ac2uisition versus
retention activities
3hile it is difficult to perfectl! distinguish the two activities
from each other, the answer is usuall! that ac2uisition dominates
retention
According to one industr! view, CRM consists ofA
B
 Belping an enterprise to enable its marketing departments to
identif! and target their best customers, manage marketing
campaigns with clear goals and obCectives, and generate 2ualit!
leads for the sales team
 Assisting the organization to improve telesales, account, and
sales management b! optimizing information shared b!
multiple emplo!ees, and streamlining existing processes +for
example, taking orders using mobile devices,
 Allowing the formation of individualized relationships with
customers, with the aimof improving customer satisfaction and
maximizing profitsD identif!ing the most profitable customers
and providing them the highest level of service
 7roviding emplo!ees with the information and processes
necessar! to know their customers, understand their needs, and
effectivel! build relationships between the compan!, its
customer base, and distribution partners
CRM$$Customer Relationship Management$$has entered the
mainstream >espite the uncertaint! of the econom!, CRM is being
thrust into corporate budgets and talked about as a critical initiative
b! hundreds of 1ortune <,... and tens of thousands of other
companies *t has gone from being an important edge in the business
world to a necessar! tool for survival &he notion of the customer as
king or 2ueen is once again the rule Bow !ou treat this is a mission$
critical business issue
But, what is CRM and how does it change the wa! companies do
business? &he changes in the world have been so d!namic and so
dramatic that the path is not necessaril! all that obvious Bow CRM
impacts that business path is a continuing source of debate in the
world of corporate management
Managing relationships with customers has become a critical
organizational competenc! )et winning strategies for ac2uiring and
retaining customers b! leveraging the latest advanced technologies
&his course will teach !ou how to select the right tools for !our
A
business$$ so it can grow toda!$$and on into the future 0agging
means lost customers, which means damage to the bottom line But
how do !ou not lag when customers are moving lightning fast to
demand constant changes in the speed to complete their
transactions? Bow do !ou keep !our customers when the move to
another compan! is nothing more than a mouse click and a minute
awa!?
CRM is the answer Customer Relationship Management, a
strateg! that leverages ver! advanced technologies is the wa! to cut to
the ?<st Centur! business chase
History of CRM
Customer Relationship Management +CRM, is one of those
magnificent concepts that swept the business world in the <==.(s with
the promise of forever changing the wa! businesses small and large
10
interacted with their customer bases *n the short term, however, it
proved to be an unwield! process that was better in theor! than in
practice for a variet! of reasons 1irst among these was that it was
simpl! so difficult and expensive to track and keep the high volume of
records needed accuratel! and constantl! update them *n the last
several !ears, however, newer software s!stems and advanced
tracking features have vastl! improved CRM capabilities and the real
promise of CRM is becoming a realit! As the price of newer, more
customizable *nternet solutions have hit the marketplaceD
competition has driven the prices down so that even relativel! small
businesses are reaping the benefits of some custom CRM programs
*n the beginningE
&he <=F.(s saw the emergence of database marketing, which
was simpl! a catch phrase to define the practice of setting up
customer service groups to speak individuall! to all of a compan!(s
customers *n the case of larger, ke! clients it was a valuable tool for
keeping the lines of communication open and tailoring service to the
clients needs *n the case of smaller clients, however, it tended to
provide repetitive, surve!$like information that cluttered databases
and didn(t provide much insight As companies began tracking
database information, the! realized that the bare bones were all that
was needed in most casesA what the! bu! regularl!, what the! spend,
what the! do
Advances in the <==.(s
*n the <==.(s companies began to improve on Customer
Relationship Management b! making it more of a two$wa! street
*nstead of simpl! gathering data for their own use, the! began giving
back to their customers not onl! in terms of the obvious goal of
improved customer service, but in incentives, gifts and other perks for
customer lo!alt! &his was the beginning of the now familiar fre2uent
fl!er programs, bonus points on credit cards and a host of other
resources that are based on CRM tracking :::: customer activit! and
spending patterns CRM was now being used as a wa! to increase
sales passivel! as well as through active improvement of customer
service
11
&rue CRM comes of age
Real Customer Relationship Management as it(s thought of
toda! reall! began in earnest in the earl! !ears of this centur! As
software companies began releasing newer, more advanced solutions
that were customizable across industries, it became feasible to reall!
use the information in a d!namic wa! *nstead of feeding information
into a static database for future reference, CRM became a wa! to
continuousl! update understanding of customer needs and behavior
Branching of information, sub$folders, and custom tailored features
enabled companies to break down information into smaller subsets so
that the! could evaluate not onl! concrete statistics, but information
on the motivation and reactions of customers &he *nternet provided
a huge boon to the development of these huge databases b! enabling
offsite information storage, where before companies had difficult!
supporting the enormous amounts of information &he *nternet
provided new possibilities and CRM took off as providers began
moving toward *nternet solutions 3ith the increased fluidit! of these
programs came a less rigid relationship between sales, customer
service and marketing CRM enabled the development of new
strategies for more cooperative work between these different
divisions through shared information and understanding, leading to
increased customer satisfaction from order to end product
&oda!, CRM is still utilized most fre2uentl! b! companies that
rel! heavil! on two distinct featuresA customer service or technolog!
&he three sectors of business that rel! most heavil! on CRM $$ and
use it to great advantage $$ are financial services, a variet! of high
tech corporations and the telecommunications industr! &he financial
services industr! in particular tracks the level of client satisfaction
and what customers are looking for in terms of changes and
personalized features &he! also track changes in investment habits
and spending patterns as the econom! shifts "oftware specific to the
industr! can give financial service providers trul! impressive
feedback in these areas
*n recent !ears however, several factors have contributed to the
rapid development and evolution of CRM &hese includeA $
1/
< The growing de-intermediation process in man! industries due to
the advent of sophisticated computer and telecommunication
technologies that allow producers to directl! interact with end$
customers 1or example, in man! industries such as airlines, banks
insurance, software or household appliances and even consumables,
the de$intermediation process is fast changing the nature of
marketing and conse2uentl! making relationship marketing more
popular >atabases and direct marketing tools give them the means to
individualize their marketing efforts
? Advances in information technology, networking and
manufacturing technolog! have helped companies to 2uickl! match
competition As a result product 2ualit! and cost are no longer
significant competitive advantages
: The growth in service economy. "ince services are t!picall!
produced and delivered at the same institution, it minimizes the role
of the middlemen
; Another force driving the adoption of CRM has been the total
quality movement. 3hen companies embraced &GM it became
necessar! to involve customers and suppliers in implementing the
program at all levels of the value chain &his needed close working
relationships with the customers &hus several companies such as
Motorola, *BM, )eneral Motors, Herox, 1ord, &o!ota, etc formed
partnering relations with suppliers and customers to practice &GM
5ther programs such as I*& and MR7 also made use of
interdependent relationships between suppliers and customers
@ Customer epectations are changing almost on a dail! basis 6ewl!
empowered customers, who choose, how to communicate with the
companies( various available channels? Also nowada!s consumers
expect a high degree of personalization
J !merging real time, interactive channels including e$mail, A&Ms
and call centre that must be s!nchronized with customer(s non$
electronic activities &he speed of business change, re2uiring
flexibilit! and rapid adoption to technologies
1=
- *n the current era of hyper competition, marketers are forced to be
more concerned with customer retention and customer lo!alt!
F As several researches have found out retaining customers is less
epensive and more sustainable competitive advantage than
ac2uiring new ones
= 5n the suppl! side it pa!s more to develop closer relationships with
a few suppliers than to develop more vendors
<. &he glo"ali#ation of world marketplace makes it necessar! to
have global account management for the customers
Definition: -
#CRM is concerned with creating improved shareholder value
through the use of customer centric business processes and the
development of appropriate relationships with consumers%
I!"eentin# CRM:
CRM re2uires an integration of a firmKs resourcesD people,
operations and marketing capabilities to deliver added value to the
customers CRM should provide businesses and organizations with a
Lsingle view( of their customers and across irrespective of the
interactive channel or medium through which the customer accesses
the service or product 1or example, a business +eg hotel, customer(s
profile and personal references should be accessible to the business
+or hotel, irrespective of channel ie whether the customer books
online, calls in or walks into an! location should not make a
difference to the service provided based on the personal profile of the
business client
*t is enabled throughA
 *nformation
 7rocesses
12
 &echnolog!
 Applications
A firm that wants to implement CRM must align itKs business
processes cross$functionall! in the best possible wa! to allow
increased customer focus with an aim to deliver added value to the
customer
&o implement CRM, the following steps must be followedA
 >evelop a CRM framework
 Align current business processes
 >esign new cross$functional business processes +where
re2uired,
 >evelop 1unctional "pecifications +client$side services,
 >evelop &echnical "pecifications
 Match &echnical "pecifications to available technolog!
+"!stems, software, etc,
 7roduct Configuration
 >ata Migration and *ntegration
 "taff &raining
 Customer $egmentation% 1or CRM to be effective, the
organization(s customer base must be stratified into segments
based on commonalities amongst groups( of individuals and
customers &his also re2uires the organization to have strategies
to target consolidated customer segments
 &educed Cost of $ervice% a customer relationship strateg!
should reduce the cost of service for both the organization and
it(s customers and increase satisfaction levels
14
 $ervice as a differentiator% &he more competitive a market
becomes the more a business will need to rel! on its superior
product 2ualit! and 2ualit! of service to differentiate itself from
other businesses and providers
 Tie-in's over time% &he greater the effort a customer spends on
a relationship over time, the greater the customer(s stake in
helping to ensure that the relationship works and the more
convenient and lo!al the customer becomes
Pitf$""s to $%oid:
Man! CRM programs fail for two reasonsA
1' 0ack of supportive business processesA Because business
processes and organizational goals are not part of a strategic
CRM plan tied to organizational goals and obCectives
/' 0ack of an enterprise perspectiveA 1or Relationship Marketing
to be effective, it re2uires that the organization creates a
seamless enterprise view A lot of CRM programs fail because
the! are assembled with disparate components that arenKt
designed to work together as part of a complete CRM s!stem
designed to meet organizational obCectives
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O'(ecti%e of CRM
CRM, in its broadest sense, means managing all interactions
and business with customers &his includes, but is not limited to,
improving customer service A good CRM program will allow a
business to ac2uire customers, service the customer, increase the
1B
value of the customer to the compan!, retain good customers, and
determine which customers can be retained or given a higher level of
service A good CRM program can improve customer service b!
facilitating communication in several wa!sA
 7rovide product information, product use information, and
technical assistance on web sites that are accessible ?; hours a
da!, - da!s a week
 *dentif! how each individual customer defines 2ualit!, and then
design a service strateg! for each customer based on these
individual re2uirements and expectations
 7rovide a fast mechanism for managing and scheduling follow$
up sales calls to assess post$purchase cognitive dissonance,
repurchase probabilities, repurchase times, and repurchase
fre2uencies
 7rovide a mechanism to track all points of contact between a
customer and the compan!, and do it in an integrated wa! so
that all sources and t!pes of contact are included, and all users
of the s!stem see the same view of the customer +reduces
confusion,
 Belp to identif! potential problems 2uickl!, before customer
occur
 7rovide a user$friendl! mechanism for registering customer
complaints +complaints that are not registered with the
compan! cannot be resolved, and are a maCor source of
customer dissatisfaction,
 7rovide a fast mechanism for handling problems and
complaints +complaints that are resolved 2uickl! can increase
customer satisfaction,
 7rovide a fast mechanism for correcting service deficiencies
+correct the problem before other customers experience the
same dissatisfaction,
1A
 Nse internet cookies to track customer interests and personalize
product offerings accordingl!
 Nse the *nternet to engage in collaborative customization or
real$time customization
 7rovide a fast mechanism for managing and scheduling
maintenance, repair, and ongoing support +improve efficienc!
and effectiveness,
 Mechanism to evaluate 7otential 85Ms
 &o develop integrated >atabase
 Assessing the need of 7otential 85Ms
 3a!s to meet those needs
 *dentif! the softer elements
 >evising a wa! to Retain and grow with those 85Ms
 Moving further ahead "atisfaction >elightment 05MA0*&M
 &o develop "trateg! and action plan on 2uarter P annual basis
 &o gain knowledge about consumer behaviour
 &o know, how to maintain relationship with customer?
 &o know, the needs anal!sis of customer
 &o understand, with the help of feedback form that wh!
customers are not trading with Angel
 &o know, the customer perception about compan!(s products P
services
 &o know, the grievances among the customers about products P
services
&he CRM program can be integrated into other cross$functional
s!stems and thereb! provide accounting and production information
to customers when the! want it
 )ee!in# E*istin# Custoers
/0
)rading customers from ver! satisfied to ver! disappointed should
help the organization in improving its customer satisfaction levels
and scores As the satisfaction level for each customer improves, so
shall the customer retention with the organization
 M$*ii+in# Life tie %$"ue
4xploit up$selling and cross$selling potential B! identif!ing life
stage and life event trigger points b! customer, marketers can
maximize share of purchase potential. &hus the single adults shall
re2uire a new car stereo and as he grows into a married couple his
needs grow into appliances
 Incre$se Loy$"ty
0o!al customers are more profitable An! compan! will like its
mindshare status to improve from being a suspect to being an
advocate Compan! has to invest in terms of its product and service
offerings to its customers *t has to innovate and meet the ver! needs
of its customers so that the! remain as advocates on the lo!alt! curve
Referral sales invariabl! are low cost high margin sales
/1
Co!$ny Profi"e:
Angel Broking 0imited is one of the leading and professionall!
managed stock broking firm involved in 2ualit! services and research
Angel Broking 0imited is a corporate member of &he "tock 4xchange,
Mumbai
&he membership of the compan! with &he "tock 4xchange
Mumbai was originall! in the name of Mukesh R )andhi, which was
eventuall! turned into a corporate membership in the name of Angel
Broking 0imited
Angel Broking 0imited is managed b! Mr >inesh &hakkar and
he is well supported b! Mr Mukesh )andhi, a fifteen !ears veteran in
the market
&he group is well supported b! a professional and 2ualified
research team and efficient operations and back office team, which
comprises of highl! dedicated and 2ualified individuals Angel has an
in$house, state of art research department
Angel believes in reaching out to the customer at the farthest
end rather than b! reaching out to them &he compan! in its
4ndeavour to give its client the best has opened up several branches
all over Mumbai, which are efficientl! integrated with the Bead
5ffice
Angel Broking 0imited is primaril! into retail stock broking,
with a customer base of retail investors, which has been increasing at
a compounded growth rate of <..Q ever! !ear &he compan! has
huge network sub$brokers in Mumbai and other places outside
Mumbai, registered with "4B*, who act as channel partners for the
compan! &he compan! presentl! has the total staff strength of
around <@. emplo!ees who are spread accordingl! across the head
office and all the branches
Angel has empowered its ph!sical presence throughout *ndia
through various strategies which it has been adopting efficientl! and
effectivel! over a period of time, like opening up of branches at
various places, tie$ups with various agencies and sales agents, bu!$
outs of smaller regional outfits and appointment of sub$brokers and
//
franchisees Moreover, Angel Broking 0td has been tapping and
including high net$worth and self$emplo!ed individuals to its vast
arra! of clients
Angel has alwa!s strived in the direction of delivering ultimate
client satisfaction and developing stronger bonds with its customers
and chose partners Angel has a vision to introduce new and
innovative products and services regularl! Moreover Angel has been
one among the pioneers to introduce the latest technological
innovations and integrate it efficientl! within its business
Angel Broking 0td tr!st with excellence in customer relations
began in <=F- &oda!, Angel has emerged as one of the most
respected "tock$Broking and 3ealth Management Companies in
*ndia 3ith its uni2ue retail$focused stock trading business model,
Angel is committed to providing LReal Oalue for Mone!( to all its
clients
&he Angel )roup is a member of the Bomba! "tock 4xchange
+B"4,, 6ational "tock 4xchange +6"4, and the two leading
Commodit! 4xchanges in the countr!A 6C>4H P MCH Angel is also
registered as a >epositor! 7articipant with C>"0
Angel(s Business

42uit! &rading

Commodities

7ortfolio Management "ervices

Mutual 1unds 0ife *nsurance

7ersonal 0oans

*75

>epositor! "ervices

*nvestment Advisor!
Angel(s 7resence

6ation$wide network of ?< Regional Bubs

7resence in <?; cities

5ver JF<. "ub$Brokers P Business Associates

More than @= lakh Clients
/=
Angel )roup

Angel Broking 0td

Angel Capital P >ebt Market 0td

Angel Commodities Broking 0td

Angel "ecurities 0td
Products $nd Ser%ices of An#e" 'ro,in#:
3e have been trained and introduced to Angel(s various
product and services, which are as followsA
E-Broking: -
/2
Angel offers several user$friendl! services to customers so that
the! can manage their stock portfolio *ncluding, online capabilities
linked to an information database to help customers invest,
confidentl! 5ur e$broking services are speciall! designed for the net$
savv! traders and investors who prefer operating from their home or
office, through the internet
&here are two t!pes of software
1. (rowser-(ased
 Angel *nvestor
 Angel &rade
2. Application-(ased
 Angel >iet
 Angel An!where
USP-s of An#e" E-'ro,in#
 Multiple 4xchanges on a single screen$ B"4, 6"4$1P5, MCH,
6C>4H
 Bot ke!s similar to broker(s terminal
 "treaming 2uotes
 7roducts'"oftware'Back office training for all 4$broking clients
 *n$depth research P technical chart, intra$da! calls
 ?;x- Back$office
 Oiewing ledger, Bills, Contracts, "auda summar!, 5pen
7osition, Boldings, >7 &ransactions, Auction >etails
 Auto pa!$in of shares P 5nline "ecurities 7a!$5ut
 *nstant transfer of fund P 5nline 1unds pa!$out re2uest
/4
 Bighl! secure and confidential
Portfo"io $n$#eent ser%ice
"uccessful investing in Capital Markets demands ever more
time and expertise *nvestment Management is an art and a science in
itself 7rofessional *nvestment Management "ervices are no longer
the privilege of onl! large institutional investors 7ortfolio
Management "ervices +7M", is one such service that is fast gaining
eminence as an investment avenue of choice for Bigh 6etworth
*nvestors like !ou 7M" is a sophisticated investment vehicle that
offers a range of specialized investment strategies to capitalize on
opportunities in the market &he 7ortfolio Management "ervice
combined with competent fund management, dedicated research and
technolog!, ensures a rewarding experience for its clients
PRODUCT .OU/UET
$- An#e" Oyster
Chief *nvestment 5fficer Mr RaCen "hah
Bottom up concentrated portfolio of Mid Cap P "mall Cap
Companies with emphasis on Oalue *nvesting
)nvestor *rofile%
R &he scheme would be suited for investors with medium to high risk
appetite having long term perspective
+ees and Charges
?Q Asset Management Charges
[email protected] brokerage on transactions
'- An#e" ."ue-c&i!
1und Manager Mr 7hani "ekhar
>iversified 42uit! portfolio of 0arge cap P Mid Cap Companies
/?
)nvestor *rofile%
R &he scheme would be suited for investors with medium to low risk
appetite, having long term perspective
+ees and Charges
R ?Q Asset Management 1ees
R [email protected] Brokerage on transactions
Angel 42uit! >erivatives 1und
1und Manager Mr "iddarth Bhamre
Bottom$Np concentrated portfolio with 42uities P >erivatives,
and emphasis on Bedging b! using volatilit! in the Markets
)nvestor *rofile%
R &he scheme would be suited for investors with low to medium
risk appetite, having long term perspective
R "uitable for B6* Clients and Corporate who want to park
mone! for consistent Return from the market even if market
remained flat
+ees and Charges
R ?Q Asset Management Charges
R .<.Q on >eliver! and Rs@. flat on options, ..<Q on futures
c- An#e" Gro0t&
1und Manager Mr 7hani "ekhar
>iversified 42uit! portfolio of 0arge cap P Mid Cap Companies
with emphasis on growth *nvestment
)nvestor *rofile%
R &he scheme would be suited for investors with moderate risk
appetite
R Recommended investment horizon is <@ to <F months
+ees and Charges%
R ?Q Asset Management Charges
R .@Q brokerage on transactions
/@
PMS c&$r$cteristics: -

 7ersonalized "ervice
 *nteraction with 1und Manager
 Regular feedback and reports
 7ro$active management of funds
 Boldings not impacted b! entr!'exit of big investors
 Can remain li2uid for long periods
 >isciplined investment process
 Gualit! investments
 0imiting risk
 0ow portfolio turnover
 1ocus on generating Absolute returns rather than Relative
Returns
An#e" Go"d-
Product- 1e$tures of An#e" Go"d
 A premium service for clients who needs professional guidance
on
 long term investments
 Minimum funds or portfolio of Rs< 0akh and maximum of Rs;
0akhs will be eligible for Angel )old
 Brokerage of [email protected]$.-@Q for clients @.Q sharing of brokerage
in case of "ub$broker(s clients
 6o AMC, 6o 4ntr!'4xit load and 6o profit sharing
 "hares can be kept in Angel pool or can be transferred to the
respective >7 accounts
 *ntimation regarding transaction will be given to clients b!
evening of the da! of transaction
 6o 0ock$in period 7rofits can be redeemed or re$investing
based on client(s wish
 4xisting client account can be used for Angel )50> Clients can
do there own transactions in the same account as well
/B
 Research >irector Mr 0alit &hakkar along with <? senior
anal!sts will take investment decisions
 *nvestment will be done for a longer time horizon +<?$<F
Months,
 Browser based B5 software for clients and branches
 Monthl! 6ewsletter will be released from Angel )50> desk
 7eriodic meetings will be held in the branches
POSITIONING
 Angel )50> is positioned as an e2uit! investment option for all
those investors who aim for realistic return from e2uit! as an
asset class on a long term perspective
 *t is for the investors who, wishes to seek professional advice for
their investments
Uni2ue se""in# Pre!osition 3USP4
 A strong team of << sector specific anal!sts headed b! Research
director guiding the investments
 6o 4ntr!'4xit load, 6o profit sharing, 6o Management fees
 A corpus limit as low as Rs< 0akh
 A portfolio of growth stocks and not market capitalization bias
 1lexibilit! of reinvesting, redeeming and li2uidating the
portfolio
 A low cost solution for investing
Product Se#ent
 Angel )50> is for the people who fall in middle class S higher
middle class section of the societ!
 7eople who are not risk averse and can understand the return
 benefits vis$T$vis calculated risk taken
 7eople who are new entrant to the e2uit! markets, normall!
coming through the Mutual 1und route
T$r#et Custoers
/A
 Moung professionals earning salaries around Rs: 0acs to RsJ
0acs with one or two !ears experience
 Middle aged professionals considering traditional wa!s of
investing ie 1>s, 771, gold, bonds, etc
 "mall scale businessmen who are not risk averse and will
understand the importance of reasonable returns
 Retired people who have taken heft! OR" or has savings of
which ?.$?@Q can be invested in e2uities
M$r#in 1undin# $nd !re!$id 'ro,er$#e
M$r#in 1undin#
#Margin 1unding% allow !ou to take higher exposure on the
funds as well as unlock the value of !our existing portfolio P take
advantage of investment opportunities in the market without the
involvement of fresh funds 5ne can use the shares in his current
portfolio to make fresh purchases in the market *f utilized prudentl!,
this product can help unlock the value of "ecurities even during
depressed "tock Market conditions and provide customers with the
much$needed li2uidit! during pressing times
Ad%$nt$#es:
 7rovide instant li2uidit! without having to sell !our "ecurities
 Allow !ou to grab investment opportunities instantl! without
an! need to pa! first
 0everage !our funds available for investments
 Benefits like bonuses and dividends continue to accrue to the
borrower
 An! appreciation in the value of the "ecurities given as margin
would automaticall! allow enhancement in drawing power
 *nterest calculated on the amount utilized P the time for which
it is utilized
Pre-P$id .ro,er$#e
=0
7re$paid brokerage is one of the best schemes for customers to
take the advantages of less brokerage >ifferent pre$paid recharge are
available with different validit! "ome characteristics of pre$paid
brokerage are as followsA $
 Uero account opening charges
 Attractive Brokerage Rate
 1ree >7 AMC for < !ear
 Assured gifts worth thousands with ever! account
 4as! P 1ast Recharge
 1ree 1inancial *nvestment Application with ever! account
/u$"ity Assur$nce 'y An#e"
Angel Broking is the 1irst Brokerage Bouse to have a Gualit!
Assurance Cell across *ndustr! >edicated GA teams at C"5 P
branches to resolve client 2ueries' complaints through telephone,
email or visit Gualit! assurance cell is one such significant milestone
achieved b! the compan!, which stands for its performance
4stablished in ?..@,the cell was set up as the compelling need was
felt to shift from Lcustomer satisfaction to customer delight% Angel(s
definition of Gualit!$ 7roduct and services that totall! satisf! and
often exceed customer needs and expectations in all respect to delight
him
"impl! put, Gualit! is achieving a high degree of excellence in
all forms of activities from design, development, serving and
documentation #Right 1irst &ime and Right 4ver! &ime% And to
achieve that, the! follow the ; L7( Gualit! modelA
 7roblem solving$continuous improvement and learning
 7eople and 7artners$Respect, challenge, growth
 7rocess$"tandardized tasks for continuous improvement
 7hilosoph!$0ong term thinking
=1
Rese$rc& 5 Ad%isory
&he markets ended Monda! marginall! in the green, after
opening weak due to concerns about "wine flu &he *ndices were
weak at the outset of the &uesda! ending the da! in red Markets
surged on 3ednesda! on positive global cues and short covering in
April ?..= derivatives contracts &he markets remained closed both
on &hursda! and 1rida! &he markets Cust ended the week positive,
with the "ensex gaining .-Q and the 6ift! closing marginall! lower
b! .?Q
1und$ent$" An$"ysis
1undamental anal!sis is one of the most useful tools that
investors use when making decisions about which stocks the!(re
going to bu! *t is a process of examining ke! ratios that show the
current worth of a stock and the recent performance of a compan!
1undamental anal!sis is used to determine the amount of mone! a
compan! can make and the kind of earnings an investor can expect
1uture earnings ma! be subCect to interpretation but good earning
histories create confidence among investors &he stock prices ma!
increase and the dividends ma! pa! out
"tock market anal!sts determine whether a compan! is meeting
its expected growth b! examining the earnings that are reported b!
the compan! on a regular basis *f the compan! doesn(t meet its
expected growth, the prices of its stocks usuall! experience a
downturn
&here are a lot of tools that are used to determine the earnings
and the value of a compan! on the stock market Most of these tools
rel! on the financial statements released b! the compan! >etails
about the value of a compan! which include competitive advantages
and ownership ratios between the management and the outside
investors can be revealed through further fundamental anal!ses
=/
+undamental analysis is for the rational man
 &o make financial forecasts
 &o conduct a compan! stock valuation P predict its
probable price evolution
 &o make a proCection on its business performance
 &o evaluate its management and make internal business
decisions
 &o calculate its credit risk
Tec&nic$" An$"ysis
&he art and science of examining stock chart data and
predicting future stock market movements is called technical
anal!sis &his st!le of anal!sis is used b! investors who are often
concerned about the nature and the value of the companies
where the! trade their stocks in &he holdings are usuall! short$
term since the investors drop the stocks once the! reach their
proCected profit
&he belief that stock prices move in predictable patterns is
the basis for technical anal!sis &he factors that influence the
movement of the price are supposedl! reflected in the stock
market with great efficienc! &hese factors include compan!
performance, economic status, and natural disasters &he
efficienc!, when coupled with historical trends, produces
movements that can be anal!zed and applied to the future
movements of the stock market Because the fundamental
information about the potential growth of a compan! is not taken
into account, technical anal!sis is not intended for long$term
investments &rades are entered and exited at precise times so
technical anal!sts need to spend a lot of time watching the
movements of the stock market *nvestors can take advantage of
both upswings and downswings in price b! going either long or
==
short *n the event that the market doesn(t move as expected, the
losses can be limited b! stop$loss orders
Bundreds of stock patterns have been developed over time
Most of these patterns rel! on the basic concepts of #support%
and #resistance% &he level where downward prices are expected
to rise from is called the support while the level where the
upward prices are expected to reach before falling again is called
the resistance 5nce the! hit the support or the resistance levels,
the prices tend to bounce
6$"ue Added Ser%ices
 6R* "ervice >esk for personalized Assistance
 >edicated 5ffline 42uit! >ealing >esk
 5nline 42uit! &rading 7latform
 6R* *nvestment Advisor! >esk
 7A6 card Assistance
 "upport for Banking P 7*" Account
 7ortfolio Management, Mutual 1und, *57 "ervices
=2
Industry An$"ysis
Industry An$"ysis $t Indi$n "e%e"
78 Introduction

&here are two t!pes of market in *ndia
MONE9 MAR)ET
Mone! market is a market for debt securities that pa! off in the
short term usuall! less than one !ear, for example the market for =.$
da!s treasur! bills &his market encompasses the trading and issuance
of short term non e2uit! debt instruments including treasur! bills,
commercial papers, bankers acceptance, certificates of deposits, etc
*n other word we can also sa! that the Mone! Market is basicall!
concerned with the issue and trading of securities with short term
maturities or 2uasi$mone! instruments &he *nstruments traded in the
mone!$market are &reasur! Bills, Certificates of >eposits +C>s,,
Commercial 7aper +C7s,, Bills of 4xchange and other such instruments
of short$term maturities +ie not exceeding < !ear with regard to the
original maturit!,
CAPITAL MAR)ET
Capital market is a market for long$term debt and e2uit! shares *n
this market, the capital funds comprising of both e2uit! and debt are
issued and traded &his also includes private placement sources of
debt and e2uit! as well as organized markets like stock exchanges
Capital market can be divided into 7rimar! and "econdar! Markets
Pri$ry M$r,et
*n the primar! market, securities are offered to public for subscription
for the purpose of raising capital or fund "econdar! market is an
=4
e2uit! trading avenue in which alread! existing'pre$ issued securities
are traded amongst investors "econdar! market could be either
auction or dealer market 3hile stock exchange is the part of an
auction market, 5ver$the$Counter +5&C, is a part of the dealer market
"econdar! Market
"econdar! Market refers to a market where securities are traded
after being initiall! offered to the public in the primar! market and'or
listed on the "tock 4xchange MaCorit! of the trading is done in the
secondar! market "econdar! market comprises of e2uit! markets and
the debt markets
1or the general investor, the secondar! market provides an
efficient platform for trading of his securities 1or the management of
the compan!, "econdar! e2uit! markets serve as a monitoring and
control conduitVb! facilitating value$enhancing control activities,
enabling implementation of incentive$based management contracts,
and aggregating information +via price discover!, that guides
management decisions
Difference 'et0een t&e !ri$ry $r,et $nd t&e second$ry
$r,et
*n the primar! market, securities are offered to public for subscription
for the purpose of raising capital or fund "econdar! market is an
e2uit! trading avenue in which alread! existing'pre$ issued securities
are traded amongst investors "econdar! market could be either
auction or dealer market 3hile stock exchange is the part of an
auction market, 5ver$the$Counter +5&C, is a part of the dealer market
Main financial products'instruments dealt in the secondar!
market
 42uit!A &he ownership interest in a compan! of holders of its
common and preferred stock &he various kinds of e2uit! shares
are as follows S
 42uit! "haresA
 An e2uit! share, commonl! referred to as ordinar! share also
represents the form of fractional ownership in which a
shareholder, as a fractional owner, undertakes the maximum
=?
entrepreneurial risk associated with a business venture &he
holders of such shares are members of the compan! and have
voting rights A compan! ma! issue such shares with
differential rights as to voting, pa!ment of dividend, etc
 Rights *ssue' Rights "haresA &he issue of new securities to
existing shareholders at a ratio to those alread! held
 Bonus "haresA "hares issued b! the companies to their
shareholders free of cost b! capitalization of accumulated
reserves from the profits earned in the earlier !ears
 7referred "tock' 7reference sharesA 5wners of these kind of
shares are entitled to a fixed dividend or dividend calculated at
a fixed rate to be paid regularl! before dividend can be paid in
respect of e2uit! share &he! also enCo! priorit! over the e2uit!
shareholders in pa!ment of surplus But in the event of
li2uidation, their claims rank below the claims of the compan!(s
creditors, bondholders ' debenture holders
 Cumulative 7reference "haresA A t!pe of preference shares on
which dividend accumulates if remains unpaid All arrears of
preference dividend have to be paid out before pa!ing dividend
on e2uit! shares
 Cumulative Convertible 7reference "haresA A t!pe of preference
shares where the dividend pa!able on the same accumulates, if
not paid After a specified date, these shares will be converted
into e2uit! capital of the compan!
 7articipating 7reference "hareA &he right of certain preference
shareholders to participate in profits after a specified fixed
dividend contracted for is paid 7articipation right is linked
with the 2uantum of dividend paid on the e2uit! shares over
and above a particular specified level
 "ecurit! ReceiptsA "ecurit! receipt means a receipt or other
securit!, issued b! a securitisation compan! or reconstruction
compan! to an! 2ualified institutional bu!er pursuant to a
scheme, evidencing the purchase or ac2uisition b! the holder
=@
thereof, of an undivided right, title or interest in the financial
asset involved in securitisation
 )overnment securities +)$"ecs,A &hese are sovereign +credit
risk$free, coupon bearing instruments which are issued b! the
Reserve Bank of *ndia on behalf of )overnment of *ndia, in lieu
of the Central )overnmentKs market borrowing programme
&hese securities have a fixed coupon that is paid on specific
dates on half$!earl! basis &hese securities are available in wide
range of maturit! dates, from short dated +less than one !ear, to
long dated +upto twent! !ears,
 >ebenturesA Bonds issued b! a compan! bearing a fixed rate of
interest usuall! pa!able half !earl! on specific dates and
principal amount repa!able on particular date on redemption of
the debentures >ebentures are normall! secured' charged
against the asset of the compan! in favour of debenture holder
 BondA A negotiable certificate evidencing indebtedness *t is
normall! unsecured A debt securit! is generall! issued b! a
compan!, municipalit! or government agenc! A bond investor
lends mone! to the issuer and in exchange, the issuer promises
to repa! the loan amount on a specified maturit! date &he
issuer usuall! pa!s the bond holder periodic interest pa!ments
over the life of the loan &he various t!pes of Bonds are as
follows$
 Uero Coupon BondA Bond issued at a discount and repaid at a
face value 6o periodic interest is paid &he difference between
the issue price and redemption price represents the return to
the holder &he bu!er of these bonds receives onl! one pa!ment,
at the maturit! of the bond
 Convertible BondA A bond giving the investor the option to
convert the bond into e2uit! at a fixed conversion price
 Commercial 7aperA A short term promise to repa! a fixed
amount that is placed on the market either directl! or through a
specialized intermediar! *t is usuall! issued b! companies with
a high credit standing in the form of a promissor! note
=B
redeemable at par to the holder on maturit! and therefore,
doesn(t re2uire an! guarantee Commercial paper is a mone!
market instrument issued normall! for a tenure of =. da!s
&reasur! BillsA "hort$term +up to =< da!s, bearer discount securit!
issued b! the )overnment as a means of financing its cash
re2uirements
? "4B*
"ecurit! 4xchange Board of *ndia
"4B* P *ts Role *n "econdar! Market
&he "4B* is the regulator! authorit! established under "ection : of
"4B* Act <==? to protect the interests of the investors in securities and
to promote the development of, and to regulate, the securities market
and for matters connected therewith and incidental thereto
"ecurities and 4xchange Board of *ndia constituted under the
Resolution of the )overnment of *ndia in the >epartment of 4conomic
Affairs 6o< +;;,"4'FJ, dated the <?th da! of April, <=FFD
&he Board shall consist of the following members, namel!A$
< A Chairman
? &wo members from amongst the officials of the Ministr! of the
Central )overnment dealing with 1inance +and administration of
the Companies Act, <=@JD, ? of <=:;
: 5ne member from amongst the officials of Wthe Reserve Bank
; 1ive other members of whom at least three shall be the whole$time
members
=A
.OM.A9 STOC) E:CHANGE
O1 INDIA LIMITED
Bomba! "tock 4xchange 0imited is the oldest stock exchange in
Asia with a rich heritage 7opularl! known as XB"4X, it was established
as X&he 6ative "hare P "tock Brokers AssociationX in <F-@ *t is the
first stock exchange in the countr! to obtain permanent recognition in
<=@J from the )overnment of *ndia under the "ecurities Contracts
+Regulation, Act, <=@J
&he 4xchangeKs pivotal and pre$eminent role in the
development of the *ndian capital market is widel! recognized and its
index, $!,$!-, is tracked worldwide 4arlier an Association of
7ersons +A57,, the 4xchange is now a demutualised and corporative
entit! incorporated under the provisions of the Companies Act, <=@J,
pursuant to the B"4 +Corporatization and >emutualization, "cheme,
?..@ notified b! the "ecurities and 4xchange Board of *ndia +"4B*,
3ith demutualization, the trading rights and ownership rights
have been de$linked effectivel! addressing concerns regarding
perceived and real conflicts of interest &he 4xchange is professionall!
managed under the overall direction of the Board of >irectors
&he Board comprises eminent professionals, representatives of
&rading Members and the Managing >irector of the 4xchange &he
Board is inclusive and is designed to benefit from the participation of
market intermediaries
*n terms of organization structure, the Board formulates larger
polic! issues and exercises over$all control &he committees constituted
b! the Board are broad$based &he da!$to$da! operations of the
4xchange are managed b! the Managing >irector and a management
team of professionals
&he 4xchange has a nation$wide reach with a presence in ;<-
cities and towns of *ndia &he s!stems and processes of the 4xchange
are designed to safeguard market integrit! and enhance transparenc!
20
in operations >uring the !ear ?..;$?..@, the trading volumes on the
4xchange showed robust growth
&he 4xchange provides an efficient and transparent market for
trading in e2uit!, debt instruments and derivatives &he B"4Ks 5n 0ine
&rading "!stem +B50&, is a proprietar! s!stem of the 4xchange and is
B" --==$?$?..? certified &he surveillance and clearing P settlement
functions of the 4xchange are *"5 =..<A?... certified
Bomba! "tock 4xchange 0imited +B"4, which was founded in
<F-@ with six brokers has now grown into a giant institution with over
F-; registered Broker$Members spread over :F. cities across the
countr! &oda!, B"4Ks 3ide Area 6etwork +3A6, connecting over
F... B"4 5nline &rading +B50&, "!stem &rader 3ork "tations
+&3", is one of the largest of its kind in the countr!
3ith a view to provide efficient and integrated services to the
investing public through the members and their associates in the
operations pertaining to the 4xchange, Bomba! "tock 4xchange
0imited +B"4, has set up a uni2ue Member "ervices and >evelopment
to attend to the problems of the Broker$Members
Member "ervices and >evelopment >epartment is the single
point interface for interacting with the 4xchange Administration to
address to MembersK issues &he >epartment takes care of various
problems and constraints faced b! the Members in various products
such as Cash, >erivatives, *nternet &rading, and 7rocesses such as
&rading, &echnolog!, Clearing and "ettlement, "urveillance and
*nspection, Membership, &raining, Corporate *nformation, etc
21
NSE - A Ne0 ideo"o#y
&he broad obCective for which the exchange was set up has
made it to pla! a leading role in enlarging the scope of market
reforms in securities market in *ndia >uring last one decade it has
been pla!ing the role of a catal!tic agent in reforming the markets in
terms of market microstructure and in evolving the best market
practices keeping in mind the investors
&he 4xchange is set up on a de$mutual zed model wherein the
ownership, management and trading rights are in the hands of three
different sets of people &his has completel! eliminated an! conflict of
interest &his has helped 6"4 to aggressivel! pursue policies and
practices within a public interest framework
6"4Ks nationwide, automated trading s!stem has helped in
shifting the trading platform from the trading hall in the premises of
the exchange to the computer terminals at the premises of the trading
members located at different geographical locations in the countr!
and subse2uentl! to the personal computers in the homes of investors
and even to hand held portable devices for the mobile investors *t
has been encouraging corporation of membership in securities
market
*t has also proved to be instrumental in ushering in scrip less
trading and providing settlement guarantee for all trades executed on
the 4xchange "ettlement risks have also been eliminated with 6"4Ks
innovative endeavors in the area of clearing and settlement viz,
establishment of the clearing corporation +6"CC0,, setting up a
settlement guarantee fund +")1,, reduction of settlement c!cle,
implementing on$line, real$time risk management s!stems,
dematerialization and electronic transfer of securities to name few of
them
As a conse2uence, the market toda! uses state$of$the$art
information technolog! to provide an efficient and transparent
trading, clearing and settlement mechanism *n order to take care of
investors interest, it has also created an investors protection fund
2/
+*71,, that would help investors who have incurred financial loss due
to default of brokers
O0ners&i! $nd M$n$#eent t&e NSE
&he da!$to$da! management of the 4xchange is delegated to the
Managing >irector and C45 who is supported b! a team of
professional staff &herefore, though the role of trading members at
6"4 is to the extent of providing onl! trading services to the
investors, the 4xchange involves trading members in the process of
consultation and participation in vital inputs towards decision
making
2=
22
M$r,et Se#ents $nd Products
6"4 provides an electronic trading platform for of all t!pes of
securities for investors under one roof $ 42uit!, Corporate >ebt,
Central and "tate )overnment "ecurities, &$Bills, Commercial 7aper,
Certificate of >eposits +C>s,, 3arrants, Mutual 1unds units, 4xchange
&raded 1unds, >erivatives like *ndex 1utures, *ndex 5ptions, "tock
1utures, "tock 5ptions, 1utures on *nterest Rates etc, which makes it
one of the few exchanges in the world providing trading facilit! for all
t!pes of securities on a single exchange
&he 4xchange provides trading in : different segments viz
 3holesale debt market +3>M,
 Capital market +CM, segment and
 &he futures P options +1P5, segment
;8 NSE 1AMIL9
NSCCL
6ational "ecurities Clearing Corporation 0td +6"CC0,, a
wholl!$owned subsidiar! of 6"4, was incorporated in August <==@
and commenced clearing operations in April <==J *t was the first
clearing corporation in the countr! to provide notation'settlement
guarantee that revolutionized the entire concept of settlement s!stem
in *ndia *t was set up to bring and = sustain confidence in clearing
and settlement of securitiesD to promote and maintain short and
consistent settlement c!clesD to provide counter$part! risk guarantee,
and to operate a tight risk containment s!stem *t carries out the
clearing and settlement of the trades executed in the e2uities and
derivatives segments of the 6"4
24
IISL
*ndia *ndex "ervices and 7roducts 0imited +**"0,, a Coint
venture of 6"4 and Credit Rating *nformation "ervices of *ndia
0imited +CR*"*0,, was set up in Ma! <==F to provide indices and index
services *t has a consulting and licensing agreement with "tandard
and 7oorKs +"P7,, the worldKs leading provider of invest able e2uit!
indices, for co$branding e2uit! indices **"0 pools the index
development efforts of 6"4 and CR*"*0 into a coordinated whole *t is
*ndiaKs first specialized compan! which focuses upon the index as a
core product *t provides a broad range of products and professional
index services *t maintains over -. e2uit! indices comprising broad$
based benchmark indices, sectoral indices and customized indices
Man! investment and risk management products based on **"0
indices have been developed in the recent past &hese include index
based derivatives on 6"4, a number of index funds and *ndiaKs first
exchange traded fund
NSDL
7rior to trading in a dematerialized environment, settlement of
trades re2uired moving the securities ph!sicall! from the seller to the
ultimate bu!er, through the sellerKs broker and bu!erKs broker, which
involved lot of time and the risk of dela! somewhere along the chain
NSE8IT
6"4*& 0imited, a <..Q technolog! subsidiar! of 6"4, was
incorporated in 5ctober <=== to provide thrust to 6"4(s technolog!
edge, concomitant with its overall goal of harnessing latest technolog!
for optimum business use
*t provides the securities industr! with technolog! that ensures
transparenc! and efficienc! in the trading, clearing and risk
2?
management s!stems Additionall!, 6"4*& provides consultanc!
services in the areas of data warehousing, internet and business
continuit! plans
NCDE:
6"4 Coined hand with other financial institutions in *ndia viz,
*C*C* Bank, 6ABAR>, 0*C, 76B, CR*"*0, Canara Bank and *11C5 to
promote the 6C>4H which provide a platform for market participants
to trade in wide spectrum of commodit! derivatives Currentl! 6C>4H
facilitates trading of :- agro based commodities, < base metal and ?
precious metal
<8 LISTING O1 SECURITIES
&he stocks, bonds and other securities issued b! issuers re2uire
listing for providing li2uidit! to investors 0isting means formal
admission of a securit! to the trading platform of the 4xchange *t
provides li2uidit! to investors without compromising the need of the
issuer for capital and ensures effective monitoring of conduct of the
issuer and trading of the securities in the interest of investors &he
issuer wishing to have trading privileges for its securities satisfies
listing re2uirements prescribed in the relevant statutes and in the
listing regulations of the 4xchange *t also agrees to pa! the listing fees
and compl! with listing re2uirements on a continuous basis All the
issuers who list their securities have to satisf! the corporate governance
re2uirement framed b! regulators
=8 MEM.ERSHIP ADMINISTRATION
&he trading in 6"4 has a three tier structure$the trading
platform provided b! the 4xchange, the broking and intermediar!
services and the investing communit! &he trading members have been
provided exclusive rights to trade subCect to their continuousl!
fulfilling the obligation under the Rules, Regulations, B!elaws,
Circulars, etc of the 4xchange &he trading members are subCect to its
regulator! discipline An! entit! can become a trading member b!
compl!ing with the prescribed eligibilit! criteria and exit b!
2@
surrendering trading membership &here are no entr!'exit barriers to
trading membership
>8 IN6ESTOR GRIE6ANCES
*nvestors are the backbone of the securities market 7rotection
of their interests is paramount for 6"4 *n furtherance of their
interests, 6"4 has put in place s!stems to ensure availabilit! of
ade2uate, up$to$date and correct information to investors to enable
them to take informed decisions *t ensures that critical and price$
sensitive information reaching the exchange is made available to all
classes of investor at the same point of time
"uch price$sensitive information as bonus announcements,
mergers, new line of business, etc received from the companies is
disseminated to all the market participants through the network of
6"4 terminals all over *ndia Action is initiated b! the 4xchange
whenever an! kind of price sensitive information is not provided to the
4xchange at the prescribed time b! companies listed on the 4xchange
F DEMATERIALISATION 5
REMATERIALISATION
DEMATERIALISATION
Me$nin#
>ematerialisation is the process b! which ph!sical certificates
of an investor are converted to an e2uivalent number of securities in
electronic form and credited into the investorKs account with his'her
>7
>ematerialising securities +ph!sical holding into electronic
holding,
*n order to dematerialise ph!sical securities one has to fill in a
>R1 +>emat Re2uest 1orm, which is available with the >7 and submit
the same along with ph!sical certificates one wishes to dematerialise
2B
"eparate >R1 has to be filled for each *"*6 6umber &he complete
process of dematerialisation is outlined belowA
 "urrender certificates for dematerialisation to !our depositor!
participant
 >epositor! participant intimates >epositor! of the re2uest
through the s!stem
 >epositor! participant submits the certificates to the registrar of
the *ssuer Compan!

Registrar confirms the dematerialisation re2uest from depositor!

 After dematerialising the certificates, Registrar updates accounts
and informs depositor! of the completion of dematerialisation
 >epositor! updates its accounts and informs the depositor!
participant
 >epositor! participant updates the demat account of the
investor

REMATERIALISATION

&he process of re$materialisation is used to convert the electronic
holding into ph!sical holdings *f one wishes to get back his securities
in the ph!sical form one has to fill in the RR1 +Re$mat Re2uest 1orm,
and re2uest his >7 for re$materialisation of the balances in his
securities account &he process of re$materialisation is outlined belowA

 5ne makes a re2uest for dematerialisation
 >epositor! participant intimates depositor! of the re2uest
through the s!stem
 >epositor! confirms dematerialisation re2uest to the registrar
 Registrar updates accounts and prints certificates
 >epositor! updates accounts and downloads details to depositor!
participant
Registrar dispatches certificates to investor
2A
?8 .ro,er 5 Su'-.ro,er
.ro,er
A broker is a member of a recognized stock exchange, who is
permitted to do trades on the screen$based trading s!stem of different
stock exchanges Be is enrolled as a member with the concerned
exchange and is registered with "4B*
Su' .ro,er
A sub broker is a person who is registered with "4B* as such
and is affiliated to a member of a recognized stock exchange
7@8 PA9-IN DA9 AND PA9- OUT DA9

7a! in da! is the da! when the brokers shall make pa!ment or
deliver! of securities to the exchange 7a! out da! is the da! when the
exchange makes pa!ment or deliver! of securities to the broker
"ettlement c!cle is on &/? rolling settlement basis wef April
.<, ?..: &he exchanges have to ensure that the pa! out of funds and
securities to the clients is done b! the broker within ?; hours of the
pa!out &he 4xchanges will have to issue press release immediatel!
after pa! out
778 Auction
3hat is an Auction?
&he 4xchange purchases the re2uisite 2uantit! in the Auction
Market and gives them to the bu!ing trading member &he shortages
are met through auction process and the difference in price indicated
in contract note and price received through auction is paid b!
member to the 4xchange, which is then liable to be recovered from
the client
40
Co!etitors:
S8 S8 )$nti"$" Is&0$r"$" Securities P%t8 Ltd8
3s&$re,&$n8co4:
"harekhan, *ndia(s leading stock broker is the retail arm of
""8*, and offers !ou depositor! services and trade execution facilities
for e2uities, derivatives and commodities backed with investment
advice tempered b! decades of broking experience A research and
anal!sis team is constantl! working to track performance and trends
&hat(s wh! "harekhan has the trading products, which are having one
of the highest success rates in the industr! "harekhan is having ?;.
share shops in <<. citiesD the largest chain of retail share shops in
*ndia is of "harekhan
*n future, "harekhan is planning to enter in Mutual funds,
*nsurance sector and banking sector to expand be!ond the market
currentl! covered b! it And it has started M1 +Mutual 1unds, on
priorit! basis but wants to grow in it
ICICI Ae' Tr$de Ltd8 3ICICIdirect8co4
*C*C*directcom was the first entrant into e$broking
*C*Cdirectcom provides the :$in$< to the users which ties in their
saving bank account and their >emat account to their brokerage
account electronicall! &his integration ensures that mone! is
transferred to'from their bank account and the shares are transferred
from'to their >emat account automaticall! without writing an!
che2ues or transfer instructions while carr!ing out their trades in
shares
*C*C*directcom has the option of trading in shares in cash,
margin or spot segments An investor can also invest in <; Mutual
1unds +7rudential *C*C* M1, 1ranklin &empleton *ndia M1, Alliance
Capital M1, IM M1, Birla "un 0ife M1, "undaram M1, *0P1" M1,
7rincipal M1, B>1C M1, "tandard Chartered M1, Reliance Capital
M1, 8otak Mahindra M1, &A&A M1 and >"7 M4RR*00 0M6CB M1,
through their trading account
41
)ot$, Securities Liited 3,ot$,street8co4
8otak "ecurities 0td, a strategic Coint venture between 8otak
Mahindra Bank and )oldman "achs +holding ?@Q $ one of the world(s
leading investment banks and brokerage firms, is *ndia(s leading
stock broking house with a market share of @ $ J Q 8otak "ecurities
0td has been the largest in *75 distribution $ *t was ranked number
5ne in ?..:$.; as Book Running 0ead Managers in public e2uit!
offerings b! 7R*M4 >atabase *t has also won the Best 42uit! Bouse
Award from 1inance Asia $ April ?..;
8otak "ecurities 0td is also a depositor! participant with
6ational "ecurities >epositor! 0imited +6">0, and Central
>epositor! "ervices 0imited +C>"0, providing dual benefit services
wherein the investors can use the brokerage services of the compan!
for executing the transactions and the depositor! services for settling
them &he compan! has ;? branches servicing around <, ..,...
customers 8otakstreetcom the online division of 8otak "ecurities
0imited offers *nternet Broking services and also online *75 and
Mutual 1und *nvestments
8otak "ecurities 0imited manages assets over <-.. crores
under 7ortfolio Management "ervices +7M", which is mainl! to the
high end of the market 8otak "ecurities 0imited has newl! launched
#8otak *nfinit!% as a distinct discretionar! 7ortfolio Management
"ervice which looks into the middle end of the market
Indi$ .u""s
*ndia bulls is *ndiaKs leading retail financial services compan!
with -- locations spread across J; cities *ts size and strong balance
sheet allows providing varied products and services at ver! attractive
prices, our over -@. Client Relationship Managers are dedicated to
serving !our uni2ue needs
*ndia bulls is lead b! a highl! regarded management team that
has invested crores of rupees into a world class *nfrastructure that
provides real$time service P ?;'- access to all information and
4/
products &he *ndia bulls 7rofessional 6etwork offers real$time
prices, detailed data and news, intelligent anal!tics, and electronic
trading capabilities, right at !our finger$tips &his powerful
technolog! is complemented b! our knowledgeable and customer
focused Relationship Managers
*ndia bulls offers a full range of financial services and products
ranging from 42uities, >erivatives, >emat services and *nsurance to
enhance wealth and to achieve the financial goals
Moti"$" Os0$" Securities Ltd8 3MOSt4:
5ne of the top$: stock$broking houses in *ndia, with a dominant
position in both institutional and retail broking, M5"t is amongst the best$
capitalized firms in the broking industr! in terms of net worth M5"t was
founded in <=F- as a small sub$broking unit, with Cust two people running
the show 1ocus on customer$first$attitude, ethical and transparent
business practices, respect for professionalism, research$based value
investing and implementation of cutting$edge technolog! have enabled it
to blossom into a thousand$member team
&he institutional business unit has relationships with several leading
foreign institutional investors +1**s, in the N", N8, Bong 8ong and
"ingapore *n a recent media report M5"t was rated as one of the top$<.
brokers in terms of business transacted for 1**s
&he retail business unit provides e2uit! investment solutions to
more than @.,... investors through ?-. outlets spanning <@. cities and ??
states M5"t provides Advice$Based Broking, 7ortfolio Management
"ervices +7M",, 4$Broking "ervices, >epositor! "ervices, Commodities
&rading, and *75 and Mutual 1und *nvestment Advisor! "ervices *ts
Oalue 7M" "cheme gave a <J.Q post$tax return for the !ear ended March
?..;
*n Asia Mone! Brokers 7oll ?..: M5"t has been rated as the Best
>omestic Research Bouse$ Mega 1unds ,while in ?... and ?..? it has
been rated as the Best >omestic 42uit! Research Bouse and "econd best
amongst *ndian Brokerage firms respectivel!
4=
SAOT An$"ysis of $n#e" 'ro,in# "td8
>uring this training at A6)40 BR58*6) 0&>, we had come to
know the "trengths 3eaknesses S 5pportunities S &hreats for the
compan! and it is ver! useful for a compan! to anal!ze them
&herefore, the "35& anal!sis is presented here and the suggestions
for maintaining strengths and removing weaknesses are explained
Stren#t&sA
 3ell$maintained infrastructure
 >edicated, *ntelligent and 0o!al staff
 5n$line &rading products
 0owest brokerage and other charges wrt Competitors
 &he best investment advice correct up to -.$=. Q through
dedicated
 Research and reports
 3ide product range to enable the clients to choose the
best alternative
 5ne of the best >7s in *ndia
 A positive image in the existing clients
42
 0arge retail customer base
 Best online software 5din which within @ second
 management information s!stem is 2uite good as
compare to competitors
Ae$,nessesA
 0ess awareness in the market
 &ime consuming process for account opening, resolving the
problems of the customers, etc
 "ervice 2ualit! is not maintained accordingl! how the! are
promoted
 Concentrate more on B6* +Bigh 6et$worth *ndividual,
client
 emplo!ee attrition rate is high especiall! B>5 P >ealers
 all branches are not working in a s!nchronized wa!
O!!ortunitiesA
 0arge primar! market to sit as a book runner for the other
companies Cust like 8otak securities ltd that runs the books
of share holdings for man! companies
 "lope of stock market towards deliver! based transactions
44
 there are onl! ? Q to :Q peoples are investing in share
market so huge opportunities are there
 0arge potential market for deliver! and intra$da!
transactions
 5pen interest of the people to enter in stock market for
investing
 Attract the customers who are dissatisfied with other brokers
P >7s
 An indirect opportunit! generated b! the market from its
bullishness
T&re$tsA
 >ecreasing rates of brokerage in the market
 *ncreasing competition against other brokers P >7s
 7oor marketing activities for making the compan! known
among the customers
 A threat of loosing clients for an! kind of weakness of the
compan!
 *ndirect threat from instable stock market, ie, low'no profit
of "harekhan(s clients would lead them to go for other
broker'>7
4?
P!" P#rfor$%&# of A%'#l Bro()%' L"*
 June; /00B FMa9or $olume river% for /00@
 Au!ust; /00B Crossed 4000000 Tradin! A""ounts
 November; /00@ FMa9or $olume river% for /00@
 Mar"h; /00@ Crossed /000000 Tradin! A""ounts
 e"ember; /00? Created /400 #usiness Asso"iates
 O"tober; /00? FMa9or $olume river% for /00?
 Se8tember /00? 7aun"hed Mutual :und and 5PO #usiness
 July; /00? 7aun"hed the PMS :un"tion
 Mar"h; /00? Crossed 100000 Tradin! A""ount
 O"tober; /004 FMa9or $olume river% for /004
 Se8tember; /002 7aun"hed Online Tradin! Platform
 A8ril; /002 5nitiated Commodities #ro)in! ivision
 A8ril; /00= :irst Publish Resear"h Re8ort
 November; /00/ An!el%s :irst 5nvestor Seminar
 Mar"h; /00/ evelo8ed +eb3Enabled #a") Offi"e Soft<are
 November; 1AAB An!el Ca8ital G ebt Mar)et 7td' 5n"or8orated
 e"ember; 1AA@ An!el #ro)in! 7td' 5n"or8orated
Products 5 Ser%ices
4@
E-.ro,in#
Nni2ue 5nline &rading 7roducts Customized to suit different
investment'&rading needs
An#e" In%estor
 Nser$friendl! browser for investors
 4as! online trading platform
 3orks in prox! and firewall s!stem set up
 *ntegrated Back officeA Access account information S an!time,
an!where
 "treaming 2uotes
 Refresh static rates when re2uired
 Multiple exchanges on single screen
4B
 5nline fund transfer facilit!
An#e" Tr$de
 Nser$friendl! browser$based online trading platform
 "treaming 2uotes
 Can be used in prox! as well as firewall environments
 Advantage to access !our account from an!where
An#e" Diet
 Application$based platform for da! traders
 Bi$speed trading terminal on !our desktop
 "treaming 2uotes for real time rate updates
 Multiple exchanges on single screen
 5nline fund transfer facilit!
 *ntegrated Back officeA Access account information S an!time,
an!where
An#e" Any0&ere
 Application$based platform for da! traders
 &rading based on historical charts and technical tools
 "treaming 2uotes for real time rate updates
 5nline fund transfer facilit!
 *ntegrated Back officeA Access account information S an!time,
an!where
.$c,-Office
.nline client details includes
 0edger Balance
 Cash >eposits with Angel
 "ecurities Boldings
4A
 Charges levied'7aid in the client(s account
 0ast auction'close$outs offered
 >7 Bolding for the last : transactions
Portfo"io M$n$#eent Ser%ices
 Managed b! our prominent 1und Manager who are regularl!
fetched b! &O media for their views on stocks
 Nnderstanding client(s risk P return profile
 5ffering the right blend of sector and stock exposures
 )iving dedicated investement Advisors
 )iving a choice of different schemes to suit ever! individual
investor preferences
 Catering to individuals, BN1s, Corporate, 6R*s, &rusts
An#e" Currency 1uture
 Comprehensive Coverage on currencies
 Reports covering in$depth fundamentals of the currencies
 0atest economics data releases with their likel! impact, along
with #&echnical 0evels%
 Comprehensive reports on currencies ideall! suited for an!
investors ' &rader
De!ository Ser%ices
 6o ph!sical instruction re2uired for the client(s sell obligations
 0owest transaction charges in the countr!
 Acceptances P execution of instruction on fax
 A combined monthl! #Bill &ransaction Bolding cum 0edger
statement
 4fficient 7ledge Mechanism
An#e" #o"d
 7ersonalized investment advisor!
 7ortfolio Restructuring and continuous monitoring
?0
 )uidance experienced research team
 7eriodic )roup meeting with investors
Pre-P$id .ro,er$#e
 Uero Account opening charges
 Attractive Brokerage rates
 1ree >7 AMC for < !ear
 Assured gifts worth thousands with ever! account
 4as! and fast recharge
 1ree 1inancial investment Application with ever! account
S!eci$"i+ed Products
M$r#in 1undin#
 facilit! to allow clients to take higher exposer
 instant li2uidit! for clients
 margin is deposited in cash as well as collaterals
 4nabling clients grab 4arning 5pportunit!
6$"ue Added Ser%ices
,&) $ervices
 6R* "ervices >esk for personalized Assistance
 >edicated offline 42uit! >ealing >esk
 5nline 42uit! dealing >esk
 6R* *nvestment Advisor! >esk
 7A6 Card Assistance
 "upport for banking$7*" Accounts
 7ortfolio Management, Mutual 1und, *75 services
Insur$nce
An#e" Offers
 7roducts to meet the obCectives of risk coverage investment and
tax planning
?1
 Assessment of !our insurance needs after proper risk profiling
 A wide arra! of individual life cover plans to meet !our
protection, savings,and retirement needs
Mutu$" funds
 An integrated platform for online 'offline mutual funds
 &ie$up with all maCor AMC"
 >edicate Relationship Manager for Business 7artners
 4xclusive M1 Research Reports b!
angelYdail!,weekl!,monthl!,mutual fund reportsZ
Lo$nsB IPO $nd fi*ed De!osits
 7roducts distributed b! angel include
 Nnsecured loans
 personal'business loans against properties
 "ecured loans
 home loans'loan against properties
 loan against securities'gold, *75$>istribution , Advisor! and
help desk , 1ixed >eposits ,6BB term >eposits
Ris, $n$#eent $t $n#e"
 An efficient risk management s!stem which enables the
customer to effectivel! monitor the positions
 &he client report can be accessed from an! place and gives
categorical displa! of the ledger balance deposits and holdings
RECOMMENDATIONS 5 CONCLUSION
6o doubt &raining is a ver! powerful tool for the smooth
functioning of the organization, but it needs to be used with care in
order to derive all the benefits Bere are seven recommendations for
getting the best out of this toolA $
< 0earn about the needs and proficienc! of each and ever! emplo!ee
before an organization invests its effort, time P mone! on training *ts
?/
better to identif! the needs P shortcomings in an emplo!ee before
actuall! imparting training to him'her
? 4xperienced P skilled trainer, who possesses good amount of
knowledge P understanding about the organizationKs obCectives,
individual abilities P the present environment, should give training
: Active participation from the trainees should be encouraged &here
should be a two$wa! communication between the trainer P trainee
; 1eedback should be taken from the trainees after the training is
over, so that the organization comes to know about the deficiencies in
the training program P also suggestions to improve upon the same
@ 1ocus of training should be on priorit! development needs and to
produce strong motivation to bring change in emplo!ees
J &he cost incurred on the training program should not exceed its
benefits
- &he method or t!pe of training should be ver! cautiousl! selected
b! the organization depending upon the organizationsK resources P an
emplo!eeKs individual need for training
&hus, training is a vital tool to cope up with the changing needs
P technologies, P ever$changing environment *t benefits both the
organization as well as the emplo!ees
.I.LIOGRAPH9
.OO)
Marketing Management 7hillip 8otler
Research Methodolog! 8ooper
Buman Resource Aswathapa
7roduction and 5peration Adam P Abert
?=
M$#$+ine
Oalue 0ine
4agle 4!e
Business 3orld
6">0
Ae'"io#r$!&y
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