On Line Trading

A STUDY ON
ONLINE TRADING

With reference to INDIABULLS PVT LTD ,
A Project report submitted to Andhra University, Visakhapatnam in partial fulfillment of the requirements for the award of degree of

MASTER OF BUSINESS ADMINISTRATION
SUBIMITTED BY

R.NAGESWARARAO
Re no!"#$%&###'$
Un(er the )i(*nce of

Mr. +.BALA +RIS,NA, M.B.A
F*c)-t. in /*n* e/ent

DEPARTMENT OF MANAGEMENT STUDIES

ADITYA INSTITUTE OF P.G.STUDIES
0AFFLIATED TO AND,RA UNIVERSITY1 A(it.*n* *r, ADB Ro*(, S)r*/2*-e/ +A+INADA3%''##' "##$3"#4#

ADITYA INSTITUTE OF P.G.STUDIES DEPARTMENT OF BUSINESS MANAGEMENT ( Affiliated To Andhra University)
Aditya Nagar, ADB Road, SURAMPALEM-533437,E.G.Dt Phone !"#$$5%&%5%%43,%5%%5#,'e((!)$**57***% 333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333

5ERTIFI5ATE

+hi i to 'erti,y that the -ro.e't entit(ed /0NL1NE +RAD1NG6 2ith re,eren'e to 1ND1AN BULL P3+ L+D, 31SA45APA+NAM i the 6one,ied 2or7 done 6y R.NAGES8ARA RA0 2ith Regd.no!%#$549###3$ d:ring the -eriod %##$-9# in -artia( ,:(,i((;ent o, the re<:ire;ent ,or the a2ard o, the Degree o, MASTER OF BUSINESS ADMINISTRATION in Aditya in tit:te o, P.G t:die a,,i(iated to Andhra Uni=er ity i a re'ord o, 6ene,ited 2or7 'arried o:t 6y :nder ;y g:idan'e and :-er=i ion.

Pro7ect G)i(e Mr, +.B*-* +ri8hn*

,e*( of the (e2t. Mr. 9.N* en(r* +)/*r

E:tern*- G)i(e

DE5LARATION
1 do here 6y de'(are that -ro.e't entit(ed / A STUDY ON ONLINE TRADING with reference to I !IA"U## PV$ #$!% that i 6eing :6;itted 6y ;e in -artia( ,:(,i((;ent ,or the a2ard o, &%"%A in 'I A () *P)(A#I*A$I+ to A !,-A U UV)-*I$., 31S5A4APA+NAM i a re'ord o, 6oni,ied 2or7 'arried o:t 6y ;e. +he re :(t e;6odied in thi di ertation ha=e not 6een :6;itted to any other :ni=er ity or in tit:tion ,or the a2ard o, any degree or di-(o;a.

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A5+NOWLEDGEMENT

+he ati ,a'tory, e>'e((ent that a''o;-anying the :''e ,:( 'o;-(etion o, a(( ;y ta 7 2o:(d 6e in'o;-(ete 2itho:t ;entioning the -eo-(e 2ho ;ade it :''e ,:( and 2ho e 'on tant g:idan'e and en'o:rage;ent, 'ro2ned a(( ;y e,,ort 2ith :''e . 1 a; a( o than7,:( to a(( other ;e;6er o, the ta,, ,or their 7ind 'oo-eration in thi 6eha(,. Main(y 1 a; =ery ;:'h than7,:( to Mr. NAGENDRA +UMAR 9ATLA SIR, M.B.A and 5ead o, the de-art;ent o, ;anage;ent t:die . 1 a; =ery than7,:( to My Pro.e't G:ide . +.BALA+RIS,NA /*n* e/ent A(it.* in8tit)te of P.G. St)(ie8 ,or e>tending hi o:t ;y -ro.e't 2or7. At the o:t et, 1 a'7no2(edge the o--ort:nity -ro=ided to ;e 6y D.SATIS,+UMAR 0Re-*tion8hi2 M*n* er1, INDIABULLS PVT LTD., ,or hi 'oo-eration and =a(:a6(e ad=i'e 'o;-(etion o, ;y -ro.e't. and 'ontin:e Mr. 7ind , f*c)-t. in

SIR

:--ort and g:idan'e thro:gh

:--ort thro:gh o:t, ,or the S:''e ,:(

?ina((y, 1 a; =ery than7,:( and ha--y to e>tend ;y gratit:de to ;y Parent , ,riend @ (i6rarian ,or their he(- and :--ort in -ro=iding the ne'e ary, in,or;ation e=ery ti;e thro:gh o:t ;y -ro.e't.

0-% A1)*2A-A-A+3

5ONTENTS (,AP$)- 4 • • • • • • (,AP$)- 5 • INDUSTRY PROFILE 5,APTER ' • (+&PA . P-+'I#) (,AP$)- 6 • $,)+-I$I(A# '-A&)2+-7 (,AP$)- 8 • • • • 'I !I 1* *U11)*$I+ * (+ (#U*I+ "I"#I+1-AP,. INRODU5TION OF STUDY NEED OF STUDY S5OPE OF T,E STUDY OB9E5TIVES OF STUDY MET,ODOLOGY OF T,E STUDY LIMITATIONS OF T,E STUDY

CHAPTER -1
• I $-+!U($I+ • ))! +' *$U!.

• *(+P) +' *$U!. • +"9)($IV)* +' *$U!. • &)$,+!+#+1. +' *$U!. • #I&I$A$I+ * +' *$U!.

INTRODU5TION
+he 'on'e-t o, hare 6ro7ing e;erged a,ter the e ta6(i h;ent o, the .oint to'7 'o;-anie . +he o2ner hi- o, the 'o;-anie 2a di=ided into ;a(( -art and that e=ery -art 2a 'a((ed hare. So, the ter; /ShareA deno;inate o;e -art in the o2ner hi- o, the 'o;-any. +he

hare are ,ree(y tran ,era6(e :6.e't to the o;e 'ertain re tri'tion . 8hen the need 2a ,e(t to e(( the hare 6y the o2ner o, the hare , it 2a di,,i':(t to ,ind o:t the 6:yer o, the hare 2ho 2ant to 6:y the hare at the -ri'e the e((er 2ant to e((. At that ti;e a need 2a ,e(t to 6ring the 6:yer and e((er on a 'o;;on -(at,or;. +o o(=e thi -ro6(e;, a gro:- o, -er on 'a;e into -i't:re, 2hi'h : ed to 6ring the 6:yer and e((er together ,or the trade o, the hare . +he e -er on are 'a((ed the hare Bro7er 2ho ,ind the -er on 2ho 2i h to 6:y or e(( their e':ritie . +he 2ho(e -ro'e Share Bro7ing. o, ,inding the 6:yer and e((er o, the e':ritie 6y the 6ro7er i 'a((ed the

+he origination o, the 1ndian e':ritie ;ar7et ;ay 6e tra'ed 6a'7 to 9)75, 2hen %% enter-ri e 6ro7er :nder a Banyan tree e ta6(i hed the Bo;6ay Sto'7 E>'hange "BSE&. 0=er the (a t 93# year , the 1ndian e':ritie ;ar7et ha e=o(=ed 'ontin:o: (y to 6e'o;e one o, the ;o t dyna;i', ;odern internationa( tandard 6oth in ter; o, tr:'t:re and in ter; o, o-erating e,,i'ien'y.

ONLINE TRADING
+he ,ir t organiBed to'7 e>'hange originated in Phi(ade(-hia in 97)#, and at the ti;e 2a the on(y a=en:e to trade, -(a'ing order dire't(y 2ith a to'7 6ro7er or trader. E=ent:a((y 2ith the in'e-tion o, the Ne2 Cor7 Sto'7 E>'hange in the 9$%# , trading and e=en o2ning a eat on the e>'hange 6e'a;e ea ier to 6e a -art o, it a((. 0+D, or o=er-the-'o:nter, -er ona( to'7 6ro7er ha=e 6een, and are ti(( -re ent ,or tho e 2ho 2ant to trade thro:gh the; : ing their -ro,e iona( ad=i'e. Di 'o:nt 6ro7er are : ed reg:(ar(y a 2e((, 2ho 'harge a (e er ,ee than a ,:(( er=i'e 6ro7er, 6:t o,,er no ad=i'e. +oday trading on(ine ha 6e'o;e a 'o;;on -ra'ti'e, 2itho:t dire't(y : ing a 6ro7er.

ONLINE TRADING INDIA!
+he in=e tor ha to regi ter 2ith an on(ine trading -orta( and get into an agree;ent 2ith the ,ir; to trade in di,,erent e':ritie ,o((o2ing the ter; and 'ondition (i ted do2n on the agree;ent. +he order -ro'e ing i done in 'orre't ti;ing a the er=er o, the on(ine trading -orta( are 'onne'ted to the to'7 e>'hange and de ignated 6an7 a(( ro:nd the '(o'7. +hey 'an a( o get :-date on the trading and 'he'7 the ':rrent tat: o, their order either thro:gh e-;ai( or thro:gh the inter,a'e. Bro7erage a( o -ro=ide re ear'h 'ontent on their 2e6 ite , :'h that the '(ient 'an ta7e their o2n de'i ion on to'7 6e,ore in=e ting.

NEED OF T,E STUDY
1nd: tria( de=e(o-;ent i an e entia( ,a'tor to de=e(o- the nationE e'ono;y. Prod:'ti=e -:r-o e re<:ire h:ge a;o:nt o, 'a-ita( 'ontri6:tion 'annot 6e -o i6(e 6y one or t2o -er on the -ro'e o, 'o((e'ting the ,:nd in=o(=e (arge n:;6er o, in=e tor . So to de=e(o- the ind: tria( e'tor, there ho:(d 6e a -ro-er 'hanne( ;e;6er to 'a-t:re the :r-(: ,ro; the -otentia( in=e tor to the re<:ired 'or-orate. ?or that an e,,i'ient 'a-ita( ;ar7et i ne'e ary 2hi'h 'o((e't the ,:nd and -ro=ide the ,inan'e to 'or-orate and go=ern;ent e'tor .  1t (ead to e'ono;i' de=e(o-;ent  Dreate ;ore e;-(oy;ent  Attra't ;ore ,oreign re er=e  5igher ret:rn to in=e tor  5e(-,:( to go=ern;ent  1t (ead to e<:i(i6ri:; o, B0P  Ra-id ind: tria(iBation  1;-ro=e in in,ra tr:'t:re ,a'i(itie

S5OPE OF T,E STUDY
Sin'e the year %### a 6ig 6oo; ha 6een 2itne ed in the 1ndian Sto'7 Mar7et 2hen the ;ar7et ho2ed the 'o;ing :- o, 0n(ine +rading Sy te;. Many on(ine to'7 trading 'o;-anie 'a;e 6:t initia((y d:e to (a'7 o, on(ine trading o;e 'o;-anie =ani hed and o;e :r=i=ed. the 'o;-anie 2hi'h :r=i=ed are getting the hand o;e ret:rn a( o attra'ting the ,oreign

in=e t;ent Do;-anie . No2aday thi

e'tor i ,a'ing ':t-throat 'o;-etition and a( o -ro=ide o a to -re ent

h:ge gro2th -ro -e't . +he t:dy then goe to e=a(:ate and ana(yBe the ,inding a '(ear -i't:re o, the trend in the on(ine trading e'tor.

 +he t:dy in'(:de a6o:t the -er,or;an'e o, 1ND1ABULLS SEDUR1+1ES L1M1+ED, 3i a7ha-atna;.  +he t:dy in'(:ded the trading and ett(e;ent -ro'ed:re o, Sto'7 E>'hange.

OB9E5TIVE
 +o t:dy the -ro,i(e o, 1ND1ABULLS Se':ritie Ltd., 3i a7ha-atna;  +o t:dy the ro(e o, =ario: -(ayer in the ;ar7et  +o t:dy a6o:t Ri 7 Manage;ent 2ith the he(- o, e<:itie .  +o :nder tand the =ario: indi'e o, Bo;6ay Sto'7 E>'hange.  +o t:dy the i :e and 'ha((enge that in=e torE ,a'e 2hi(e ;a7ing in=e t;ent in hare ;ar7et.  +o 7no2 the trength, 2ea7ne , 0--ort:nity and +hreat to 1ndia6:(( .

MET,ODOLOGY
+he t:dy 2a :nder ta7en in the trading ,(oor o, 1ND1ABULLS SEDUR1+1ES

L1M1+ED, 3i a7ha-atna;. +he in,or;ation regarding the on(ine trading i 'o((e'ted ,ro; 6oth -ri;ary a 2e(( a e'ondary o:r'e o, data.

PRIMARY DATA
 8at'hing on(ine trading (i=e.  1ntera'ting 2ith the o-erator at the 'o;-:ter ter;ina(E the '(ient trading in 1ND1ABULLS SEDUR1+1ES L1M1+ED, 3i a7ha-atna;.  Do((e'ting in,or;ation ,ro; the head o, ea'h de-art;ent and ,ro; the ta,, 2or7ing in tho e de-art;ent .

SE5ONDARY DATA
 Do((e'ting the data ,ro; the 2e6 ite o, BSE  Re,erring the to-i' in te>t6oo7 and .o:rna( re(ating to Sto'7 E>'hange o-eration .  Do((e'ting in,or;ation thro:gh internet.

LIMITATIONS
+here are ;any 'on traint in t:dying the 'o;-(e> and 'o;-(i'ated Bo;6ay Sto'7 E>'hange. A(tho:gh the -er ona( o, 1ND1ABULLS SEDUR1+1ES L1M1+ED, 3i a7ha-atna;, are =ery 'oo-erati=e and he(-,:(, they are 6o:nd 6y their o2n r:(e and reg:(ation . So;e o, the (i;itation in doing the -ro.e't 2or7 a ,o((o2 !  1t i =ery di,,i':(t to ta7e 'o;-(ete gri- o, the to'7 ;ar7et in,or;ationE and ,:n'tioning d:ring the t2o ;onth o, the t:dy.  1t i tedio: and 'o;-(e> -ro'e to e=a(:ate the o=era(( ;ar7et.

 Di,,i':(t to :nder tand ta>ation -o(i'ie  Di,,i':(t to 'a(':(ate =a(:ation 'on'e-t and :nder tand the a''o:nting -o(i'ie  Mo t o, -eo-(e donEt 7no2 a6o:t the Share Mar7et.  Mo t(y -eo-(e 6e(ie=e in a=ing aF', ,i>ed de-o it et'. they donEt 2ant 6ear any ri 7. +hey 2ant a,ety and e':rity o, their ;oney.  La'7 o, data 6e'a: e o, the Do;-any 'ertain 'on traint o, data haring.  La'7 o, 'o-o-eration ,ro; the e;-(oyee o, the Do;-any 6e'a: e o, their 6: y 'hed:(e.  +o :nder tand the 'on'e-t o, Share Mar7et i a =ery to:gh .o6.  +i;e 'on traint -(ay i;-ortant ro(e. No 6ody i ha=ing o ;:'h ti;e to -end on -eo-(e.

CHAPTER-2
• I !U*$-. P-+'I#)

,ISTORY OF STO5+ E;5,ANGE
+he on(y to'7 e>'hange o-erating in the 9) th 'ent:ry 2ere tho e o, Bo;6ay et :- in 9$75 and Ahe;ada6ad et :- in 9$)4. +he e 2ere organiBed a =o(:ntary non--ro,it ;a7ing organiBation o, 6ro7er to reg:(ate and -rote't their intere t . Be,ore the 'ontro( on e':ritie trading 6e'a;e a 'entra( :6.e't :nder the 'on tit:tion in 9)5#, it 2a a tate :6.e't and the Bo;6ay e':ritie 'ontra't "D0N+R0L& A't o, 9)5% : ed to reg:(ate trading in e':ritie . Under thi A't, the Bo;6ay to'7 e>'hange in 9)%7 and Ahe;ada6ad in 9)37. D:ring the 2ar 6oo;, a n:;6er o, to'7 e>'hange 2ere organiBed in Bo;6ay, Ahe;ada6ad and other 'enter , 6:t they 2ere not re'ogniBed. Soon a,ter it 6e'a;e a 'entra( :6.e't, 'entra( (egi (ation 2a -ro-o ed and a 'o;;ittee headed 6y A.D. Gor2a(a 2ent into the 6i(( ,or e':ritie reg:(ation. 0n the 6a i o, 'o;;itteeE re'o;;endation and -:6(i' di ': ion the e':ritie 'ontra't "reg:(ation & A't 6e'a;e (a2 in 9)5*.

Definition of Stoc< E:ch*n e
/Sto'7 e>'hange ;ean any6ody or indi=id:a( 2hether in'or-orated or not, 'on tit:ted ,or the -:r-o e o, a i ting, reg:(ation or 'ontro((ing the 6: ine e':ritie .A 1t i an a o'iation o, ;e;6er 6ro7er ,or the -:r-o e o, e(, reg:(ation and -rote'ting the internet o, it ;e;6er . 1t 'an o-erate on(y i, it i re'ogniBed 6y the Go=t. :nder the e':ritie 'ontra't "reg:(ation& A't, 9)5* the re'ognition i granted :nder e'tion 3 o, A't 6y the Dentra( Go=t. ;ini try o, ,inan'e. o, 6:ying, e((ing or dea(ing in

B.e-*=8
Be ide the a6o=e a't, the e':ritie 'ontra't "reg:(ation& r:(e 2ere a( o ;ade in 9)75 to reg:(ate 'ertain ;atter o, trading on Sto'7 E>'hange. +he e are a( o 6ye(a2 o, the e>'hange , 2hi'h are 'on'erned 2ith ,o((o2ing :6.e't . 0-eningGD(o ing o, the Sto'7 E>'hange, ti;ing o, trading, reg:(ation o, 6(an7 tran ,er, reg:(ation o, Bad(a or 'arryo=er 6: ine , 'ontro( o, tate;ent, and other a'ti=itie o, to'7 e>'hange, ,i>ation o, ;argin , ,i>ation ;ar7et -ri'e or ;a7ing -ri'e, reg:(ation o, intraday ".o66ing&, reg:(ation o, 6ro7er trading, 6ro7erage 'harge , trading r:(e on e>'hange , attri6:tion and ett(e;ent o, di -:te , ett(e;ent and '(earing o, the trading et'.

Re )-*tion of 8toc< e:ch*n e
+he e':ritie 'ontra't "reg:(ation& i the 6a i o, the to'7 e>'hange in 1ndia. No e>'hange 'an o-erate (ega((y 2itho:t the Go=t. -er;i ion or re'ognition. Sto'7 e>'hange are gi=en

;ono-o(y in 'ertain area :nder e'tion 9) o, the a6o=e A't to en :re that the 'ontro( and reg:(ation are ,a'i(itated. Re'ognition 'an 6e granted to a to'7 e>'hange -ro=ided 'ertain 'ondition are ati ,ied and the ne'e ary in,or;ation i :--(ied to the go=ern;ent. Re'ognition

'an a( o 6e 2ithdra2n, i, ne'e ary. 8here there are no to'7 e>'hange , the go=ern;ent 'an (i'en e o;e o, the 6ro7er to -er,or; the ,:n'tion o, to'7 e>'hange in it a6 en'e.

Ro-e of Stoc< E:ch*n e!
 +o a,eg:ard the intere t o, in=e ting -:6(i'  +o e ta6(i h and -ro;ote honora6(e and .: t -ra'ti'e in e':ritie tran a'tion .  +o -ro;ote, de=e(o- and ;aintain a 2e(( reg:(ated ;ar7et ,or dea(ing in e':ritie .  +o -ro;ote ind: tria( de=e(o-;ent in the 'o:ntry thro:gh e,,i'ient re o:r'e ;o6i(iBation 6y 2ay o, in=e t;ent in 'or-orate e':ritie .  +o ena6(e ,(o2 o, 'a-ita( into ;o t e,,i'ient ind: trie . +he ;ar7et -ri'e and re(ati=e yie(d o, a e':rity are the g:iding ,a'tor .

 1t en'o:rage -eo-(e to a=e in=e t in 'or-orate e':ritie there6y a''e(erating 'a-ita( ,or;ation.  Rai ing (ong ter; 'a-ita(! +he e>i ten'e o, a to'7 e>'hange ena6(e 'o;-anie to rai e -er;anent 'a-ita(.  Dea(ing on the Sto'7 e>'hange are :6.e't to the 6ye-(a2 and r:(e o, the Sto'7 E>'hange.  Sto'7 e>'hange dea(ing in 1ndia are reg:(ated 6y the Se':ritie Dontra't "Reg:(ation& A't and the Se':ritie and e>'hange Board o, 1ndia "SEB1&. +here are t2o i;-ortant ty-e o, trading on the to'7 e>'hange na;e(y Ready De(i=ery and ?or2ard De(i=ery Dontra't.  Ready De(i=ery 'ontra't, a( o 7no2n a 'a h trading or 'a h tran a'tion , are to 6e ett(ed either on the a;e date or 2ithin a hort -eriod that ;ay e>tend at 6e t :-to e=en day . "1, the -ay;ent and de(i=ery o, e':ritie i on the a;e day or on the ne>t day, it ;ay 6e 'a((ed S-ot De(i=ery Dontra't&.  ?or2ard De(i=ery 'ontra't are di 'harged on ,i>ed ett(e;ent day . +hey are 'on,ined to tho e e':ritie 2hi'h are -(a'ed on the ,or2ard (i t .

PRO5EDURE FOR DEALING AT STO5+ E;5,ANGES!
+he 6:ying and e((ing at to'7 e>'hange i not a((o2ed to o:t ider . +hey ha=e to a--roa'h 6ro7er 2ho are the ;e;6er o, the e>'hange and the dea(ing 'an on(y 6e thro:gh the;. +he ,o((o2ing Pro'ed:re ,or dea(ing at e>'hange . 4. SELE5TION OF T,E BRO+ER ! +he ,ir t thing to 6e done i to e(e't 6ro7er thro:gh 2ho; the -:r'ha e or a(e to 6e ;ade. +he intending in=e tor or e((er ;ay a--roa'h hi 6an7 ,or thi -:r'ha e. +he 6an7 ha=e a--ointed their o2n 6ro7er at e>'hange and they 'onta't ,or dea(ing on 6eha(, o, their ': to;er . 0n a re'o;;endation ,ro; there 6an7 the D(ient a''o:nt i o-ened 6y the 6ro7er. +he 6an7 a :re the ,inan'ia( 'ondition o, the '(ient. ". PLA5EING AN ORDER ! A,ter e(e'ting the 6ro7er the '(ient -(a'e an order ,or -:r'ha e or a(e o, e':ritie . +he 6ro7er a( o g:ide the '(ient a6o:t the +y-e o, e':ritie then the 6ro7er te(( hi; a6o:t the ,a=ora6(e ti;e ,or a(e. +he 6ro7er i to(d to P:r'ha e hare , their n:;6er and -ri'e to 6e -aid. So;e ti;e a de,inite -ri'e i gi=en on 2hi'h the -:r'ha e to 6e ;ade, o;e ti;e the tentati=e -ri'e i to(d, o;e ti;e the ;a>i;:; -ri'e to 6e -aid i to(d, et'. +he 6ro7er 2i(( try to ;a7e P:r'ha e a ,ar a -o i6(e to the neare t -ri'e o,,ered 6y the '(ient. +he 6ro7er i gi=en o;e 'hoi'e ,or 6argaining. +he a;e ty-e o, 'hoi'e gi=en to the 6ro7er ,or e((ing the e':ritie . '. MA+ING T,E 5ONTRA5T ! +he trading ,(oor o, the to'7 e>'hange i di=ided into di,,erent -art 7no2n a trading -o t . Di,,erent -o t dea( in di,,eren'e e':ritie . +he a:thoriBed '(er7 o, the 6ro7er goe to the 'on'erned -o t and e>-re e hi intention to 6:y and e(( the e':ritie . A dea( i tr:'7 2hen the other -arty a( o agree . +he 6argain i tr:'7 6y an o:t'ry ;entioning the -ri'e and n:;6er o, e':ritie 'ontra'ted 6y 6oth the '(er7 . +he

6argain i noted 6y 6oth the -artie in their note 6oo7 . +he (i- gi=ing the detai( o, the 6argain i -:t in a 6o> ,or ;a7ing anno:n'e;ent in the o,,i'ia( -ri'e (i t ,or -:6(i'ity.

&. 5ONTRA5T NOTE ! +he 6:ying and e((ing 6ro7er -re-are note a,ter their ;:t:a( 'on ent ne>t day. +he e((er i ent a e((ing note and the the 6:yer i ent a 6:ying note. +he detai( o, e':ritie traded are gi=en ;entioning their n:;6er, -ri'e et'., %. SETTLEMENT ! +he -ot dea(ing are ett(ed their in ,:((. +he e((ing 6ro7er hand o=er the tran ,er ,or; and hare 'erti,i'ate to the 6:ying Bro7er a,ter re'ei=ing the -ri'e. +he ett(e;ent ,or ready de(i=ery and ,or2ard 'ontra't i done 2ith a di,,erent -ro'ed:re.  Sett(e;ent o, ready de(i=ery 'ontra't .  Sett(e;ent o, ,or2ard de(i=ery 'ontra't . 9. Li<:idation in ,:((. %. Li<:idation 6y -ay;ent o, di,,eren'e . 3. Darry o=er to the ne>t ett(e;ent. >. ELE5TRONI5 SETTLEMENT OF TRADE ! 9 .Pro'ed:re ,or e((ing de;ateria(iBed e':ritie ! +he -ro'ed:re ,or e((ing de;ateria(iBed e':ritie in to'7 e>'hange i i;i(ar to

the -ro'ed:re ,or e((ing -hy i'a( e':ritie . +he on(y ;a.or di,,eren'e i that in tead o, de(i=ery -hy i'a( e':ritie to the 6ro7er, the in=e tor in tr:'t hi de-o itory -arti'i-ant "D.P.& to de6it hi De;at a''o:nt 2ith the n:;6er o, e':ritie 6e(o2. o(d 6y hi; and 'redit the 6ro7er '(earing a''o:nt. +he -ro'ed:re ,or e((ing De;ateria(iBed e':ritie are gi=en

 1n=e tor e(( a 6ro7er.

e':ritie ;any o, the to'7 e>'hange (in7ed to de-o itory thro:gh

 1n=e tor in tr:'t hi D.P. to de6it hi De;at A''o:nt 2ith the n:;6er o, e':ritie o(d and then the 6ro7er '(earing a''o:nt.  Be,ore the -ay in day the 6ro7er o, the 1n=e tor tran ,er to e':ritie to '(earing 'or-oration.  +he 6ro7er re'ei=e -ay;ent ,ro; to'7 e>'hange.  +he in=e tor re'ei=e -ay;ent ,ro; the 6ro7er ,or the a(e o, e':ritie in the a;e ;anner a re'ei=ed in 'a e o, a(e o, -hy i'a( e':ritie .. %. Pro'ed:re ,or P:r'ha ing de;ateria(iBed e':ritie ! +he -ro'ed:re ,or -:r'ha ing de;ateria(iBed e':ritie i a( o i;i(ar to the -ro'ed:re ,or 6:ying -hy i'a( e':ritie .  1n=e tor in tr:'t D.P to re'ei=e 'redit into hi a''o:nt in the -re 'ri6ed ,or;. +here ;ay 6e one ti;e tanding in tr:'tion or e-arate in tr:'tion ea'h ti;e to re'ei=e 'redit .  1n=e tor P:r'ha e thro:gh a 6ro7er.  Bro7er re'ei=e -ay;ent ,ro; 1n=e tor and arrange -ay;ent to '(earing 'or-oration.  Bro7er re'ei=e 'redit o, e':ritie in '(earing a''o:nt on the -ay o:t day.  Bro7er gi=e in tr:'tion to D.P to de6it to '(earing a''o:nt and 'redit '(ient a''o:nt.  1n=e tor re'ei=e hare into hi a''o:nt 6y the 2ay o, 6oo7 entry. e':ritie in any o, the to'7 e>'hange (in7ed to de-o itory

?. ROLLING SETTLEMTNT ! Ro((ing ett(e;ent i an i;-ortant Mea :re to enhan'e the e,,i'ien'y and integrity o, the e':rity ;ar7et. +he hi,t ,ro; the traditiona( a''o:nt -eriod ett(e;ent ;ar7 an i;-ortant 'hange in the ;ar7et de ign and age o(d -ra'ti'e . 1n Han:ary. 9))$, SEB1 had introd:'ed ro((ing ett(e;ent on a =o(:ntary 6a i on the to'7 e>'hange ,or the e':ritie , 2hi'h 2ere e(igi6(e ,or de;ateria(iBed trading. 5o2e=er, a there 2a hard(y any re -on e to =o(:ntary 'he;e, SEB1 introd:'ed 'o;-:( ory ro((ing ett(e;ent initia((y ,or 9# 'ri-t in Han:ary %### @ then in'rea ed the n:;6er o, 'ri-t in a -ha ed ;anner to 9*3 6y May %### @ ,:rther to 494 'ri-t ,ro; H:(y %,%##9. Ro((ing ett(e;ent ha 6een introd:'ed in the ,or; o, +I5 ett(e;ent y te; 2here + i the trade date @ % day are gi=en ,or de(i=ery o, e':ritie @ 'a h -ay;ent . At -re ent +I% ett(e;ent y te; + i the trade date and % day are gi=en ,or de(i=ery o, e':ritie @ 'a h -ay;ent . OPERATORS AT STO5+ E;5,ANGE!

9o@@er8!
Ho66er are e':rity ;er'hant dea(ing in hare ,@ de6ent:re a inde-endent o-erator . +hey 6:y @ e(( e':ritie on their o2n 6eha(, @ try to 'an thro:gh -ri'e 'hange . Ho66er 'annot dea( on 6eha(, o, -:6(i' @ are 6arred ,ro; ta7ing 'o;;i ion. +hey dire't(y dea( 2ith 6ro7er 2ho in t:rn ;a7e tran a'tion on 6eha(, o, -:6(i'. Ho66er genera((y <:ote t2o -ri'e one at 2hi'h he i -re-ared to -:r'ha e @ the other at 2hi'h he i -re-ared to e(( a -arti':(ar e':rity. +he di,,eren'e 6et2een the t2o -ri'e i the Ho66erE -ro,it 2hi'h i te'hni'a((y 7no2n a .o66erE t:rn. ?or e>a;-(e a .o66er ;ay <:ote the e<:ity hare o, Binda( Agro at R .)5-R .)*.+hi i;-(ie that a .o66er i -re-ared to -:r'ha e the e hare at R .)5 ea'h @ e(( at R .)* ea'h. +he di,,eren'e 6et2een the e t2o -ri'e i .o66erE -ro,it or the .o66erE t:rn.

+he London Sto'7 E>'hange ha t2o ty-e o, ;e;6er 7no2n a .o66er @ 6ro7er . E=ery ;e;6er ha to de'(are in the 6eginning e=ery year 2hether they 2i(( 6e a'ting a .o66er or 6ro7er . 0n'e he ;a7e a de'(aration ha to ti'7 to it.

Bro<er8!
Bro7er are 'o;;i ion agent , 2ho a't a inter;ediarie 6et2een 6:yer @ e((er o, e':ritie . +hey do not -:r'ha e or e(( e':ritie on their 6eha(,. +hey 6ring together 6:yer @ e((er @ he(- the; in ;a7ing a dea(. Bro7er 'harge 'o;;i ion ,ro; 6oth the -artie ,or their er=i'e . Bro7er the e>-ert in e ti;ating trend o, -ri'e @ 'an e,,e'ti=e(y ad=i e their '(ient in rea'hing a ,r:it,:( gain. Bro7er get order ,ro; in=e ting -:6(i' @ e>e':te the order thro:gh .o66er @ they are entit(ed to a -re 'ri6ed 'a(e o, 6ro7erage. +he in=e tor 2ho do not 7no2 the te'hni'a(itie o, to'7 e>'hange are great(y 6ene,ited 6y the e>-erti e o, 6ro7er .  +ara2ani2a(a ! +he ;e;6er o, Bo;6ay Sto'7 E>'hange ha=e :no,,i'ia((y di=ided the; e(=e into t2o 'ategorie 9.BR04ERS %.+ARA8AN18ALAS +he (atter a't 6oth a .o66er @ 6ro7er . A +ara2ani2a(a ;a7e tran a'tion on hi o2n 6eha(, (i7e a .o66er 6:t he ;ay a( o a't a a 6ro7er on 6eha(, o, the -:6(i'. +hey ind:(ge in ;a(-ra'ti'e to earn -ro,it . +hey ;ay e(( their o2n e':ritie to their '(ient 2hen -ri'e are higher @ =i'e-=er a. +he di tin'tion 6et2een .o66er o, London E>'hange @ +ara2ani2a(a o, Bo;6ay Sto'7 E>'hange i that the ,or;er are not 6ro7er 2herea the (atter ;ay a't 6oth a 6ro7er @ .o66er . Se'tion 95 o, the Se':ritie Dontra't A't -rohi6it ;e;6er o, a re'ogniBed to'7 :'h -ra'ti'e . 1t tate that no e>'hange ha((, in re -e't o, any e':ritie , enter into any

'ontra't a a -rin'i-a( 2ith any -er on other than a ;e;6er o, a re'ogniBed to'7 e>'hange, :n(e he ha e':red the 'on ent or a:thority o, :'h -er on @ di '(o e in the ;e;orand:; or agree;ent o, a(e or -:r'ha e that he i a'ting a -rin'i-a(.

ROLE OF STO5+ E;5,ANGES!
       

Rai ing 'a-ita( ,or 6: ine e . Mo6i(iBing a=ing ,or in=e t;ent. ?a'i(itating 'o;-any gro2th. Redi tri6:tion o, 2ea(th. Dor-orate go=ernan'e. Dreating in=e t;ent o--ort:nitie ,or ;a(( in=e tor . Go=ern;ent 'a-ita(-rai ing ,or de=e(o-;ent -ro.e't . Baro;eter o, the e'ono;y.

STO5+ E;5,ANGES IN INDIA!
  

Bo;6ay Sto'7 E>'hange Nationa( Sto'7 E>'hange Regiona( Sto'7 E>'hange
9. %. 3. 4. 5. *. 7. $. ). 9#. 99. 9%. 93.

Ah;eda6ad Sto'7 E>'hange Banga(ore Sto'7 E>'hange Bh:6ane h2ar Sto'7 E>'hange Da(':tta Sto'7 E>'hange Do'hin Sto'7 E>'hange Doi;6atore Sto'7 E>'hange De(hi Sto'7 E>'hange G:2ahati Sto'7 E>'hange 5ydera6ad Sto'7 E>'hange Hai-:r Sto'7 E>'hange L:dhiana Sto'7 E>'hange Madhya Prade h Sto'7 E>'hange Madra Sto'7 E>'hange

94. 95. 9*. 97. 9$. 9). %#. %9.

Magadh Sto'7 E>'hange Manga(ore Sto'7 E>'hange Meer:t Sto'7 E>'hange 0+D E>'hange 0, 1ndia P:ne Sto'7 E>'hange Sa:ra htra 4:t'h Sto'7 E>'hange Uttar Prade h Sto'7 E>'hange 3adodara Sto'7 E>'hange

SE5URITIES AND E;5,ANGE BOARD OF INDIA 0SEBI1
SEB1 2a et:- a an a:tono;o: reg:(atory a:thority 6y the Go=ern;ent o, 1ndia in 9)$$ /to

-er,or; the intere t o, in=e tor in the e':ritie and to -ro;ote the de=e(o-;ent o,, and to reg:(ate the e':ritie ;ar7et and ,or ;atter 'onne'ted there2ith or in'identa( thereto.A 1t i e;-o2ered 6y t2o A't na;e(y the SEB1 a't, 9))% and the e':ritie 'ontra't "reg:(ation& A't 9)5* to -er,or; the ,:n'tion o, -rote'ting in=e torE right and reg:(ating the 'a-ita( ;ar7et.

Bo/@*. Stoc< E:ch*n e
+he to'7 e>'hange, M:;6ai, -o-:(ar(y 7no2n a /BSEA 2a e ta6(i hed in 9$75 a /+he Nati=e hare and to'7 6ro7er a o'iationA, a a =o(:ntary non--ro,it ;a7ing a o'iation. 1t ha an e=o(=ed o=er the year into it -re ent tat: a the -re;iere to'7 e>'hange in the 'o:ntry. 1t ;ay 6e noted that the to'7 e>'hange the o(de t one in the A ia, e=en o(der than the +o7yo Sto'7 E>'hange, 2hi'h 2a ,o:nded in 9$7$. +he E>'hange, 2hi(e -ro=iding an e,,e'ti=e and tran -arent ;ar7et ,or trading in e':ritie , :-ho(d the intere t o, the in=e tor and en :re redre ed o, their grie=an'e , 2hether again t the 'o;-anie or it o2n ;e;6er 6ro7er . 1t a( o tri=e to ed:'ate and en(ighten the in=e tor 6y ;a7ing a=ai(a6(e ne'e ary in,or;ati=e in-:t and 'ond:'ting in=e tor ed:'ation -rogra;;e . A go=erning 6oard 'o;-ri ing o, ) e(e'ted dire'tor , % SEB1 no;inee , 7 -:6(i' re-re entati=e and an e>e':ti=e dire'tor i the a-e> 6ody, 2hi'h de'ide the -o(i'ie and reg:(ate the a,,air o, the e>'hange . +he e>e':ti=e dire'tor a the 'hie, e>e':ti=e o,,i'er i re -on i6(e ,or the day today

ad;ini tration o, the e>'hange. +he a=erage dai(y t:rno=er o, the e>'hange d:ring the year %###-#9 "A-ri(-Mar'h& 2a R . 3)$4.9) 'rore and a=erage n:;6er o, dai(y trade 5.*) (a7h . 5o2e=er the a=erage dai(y t:rn o=er o, the e>'hange d:ring the year %##9-#% ha de'(ined to R . 9%44.9# 'rore and n:;6er o, a=erage dai(y trade d:ring the -eriod to 5.97 (a7h .

+he a=erage dai(y t:rn o=er o, the e>'hange d:ring the year %##%-#3 had de'(ined and n:;6er o, a=erage dai(y trade d:ring the -eriod i a( o de'rea ed. +he Ban on a(( de,erra( -rod:'t (i7e BLESS AND ALBM in the 1ndian 'a-ita( ;ar7et 6y SEB1 2ith e,,e't ,ro; H:(y %, %##9, a6o(ition o, a''o:nt -eriod ett(e;ent , in a(( 'ri-t traded on the e>'hange 2ith e,,e't ,ro; De' 39, %##9, et'., ha=e ad=er e(y i;-a'ted the (i<:idity and 'on e<:ent(y there i a 'on idera6(e de'(ine in the dai(y t:rn o=er at the e>'hange. +he a=erage dai(y t:rn o=er o, the e>'hange -re ent 'enario i 99#3*3 "(a'e & and n:;6er o, a=erage dai(y trade 9#57 "(a'e &.

BSE In(ice8
1n order to ena6(e the ;ar7et -arti'i-ant ana(y i et'., to tra'7 the =ario: :- and do2n in the 1ndian to'7 ;ar7et, the E>'hange ha introd:'ed in 9)$* an e<:ity to'7 inde> 'a((ed BSESENSEJ that :6 e<:ent(y 6e'a;e the 6aro;eter o, the ;o;ent o, the hare -ri'e in the 1ndian Sto'7 ;ar7et. 1t i a /Mar7et 'a-ita(iBation 2eightedA inde> o, 3# 'o;-onent to'7

re-re enting a a;-(e o, (arge, 2e((-e ta6(i hed and (eading 'o;-anie . +he 6a e year o, Sen e> i 9)7$-7). +he Sen e> i 2ide(y re-orted in 6oth do;e ti' and internationa( ;ar7et thro:gh -rint a 2e(( a e(e'troni' ;edia. Sen e> i 'a(':(ated : ing a ;ar7et 'a-ita(iBation 2eighted ;ethod. A -er thi ;ethodo(ogy, the (e=e( o, the inde> re,(e't the tota( ;ar7et =a(:e o, a(( 3#-'o;-onent to'7 ,or; di,,erent ind: trie re(ated to -arti':(ar 6a e -eriod. +he tota( ;ar7et =a(:e o, a 'o;-any i deter;ined 6y ;:(ti-(ying the -ri'e o, it to'7 6y the n:;6er o, hare o:t tanding. Stati ti'ian 'a(( an

inde> o, a et o, 'o;6ined =aria6(e " :'h a -ri'e and n:;6er o, hare & a 'o;-o ite 1nde>. An 1nde>ed n:;6er i : ed to re-re ent the re :(t o, thi 'a(':(ation i order to ;a7e the =a(:e ea ier to 2or7 2ith the tra'7 o=er a ti;e. 1t i ;:'h ea ier to gra-h a 'hart 6a ed on 1nde>ed =a(:e than one 6a ed on a't:a( =a(:e 2or(d o=er ;a.ority o, the 2e((-7no2n 1ndi'e are 'on tr:'ted : ing /Mar7et 'a-ita(iBation 2eighted ;ethodA.

1n -ra'ti'e, the dai(y 'a(':(ation o, SENSEJ i done di=iding the aggregate ;ar7et =a(:e o, the 3# 'o;-anie in the 1nde> Di=i or. +he 7ee- the 1nde> 'o;-ara6(e o=er a -eriod or ti;e and i, the re,eren'e -oint ,or the entire 1nde> ;aintenan'e ad.: t;ent . SENSEJ i 2ide(y : ed to de 'ri6e the ;ood in the 1ndian Sto'7 Mar7et . Ba e year a=erage i 'hanged a -er the ,or;:(a ne2 6a e year a=erage K o(d 6a e year a=erageL "ne2 ;ar7et =a(:eGo(d ;ar7et =a(:e&.

N*tion*- Stoc< E:ch*n e
+he NSE 2a in'or-orated in No2 9))% 2ith an e<:ity 'a-ita( o,R . %5 'rore . +he

internationa( e':ritie 'on :(tan'y "1SE& o, 5ong 4ong ha he(-ed in etting :- NSE. 1SE ha -re-ared the detai(ed 6: ine -(an and in ta((ation o, hard2are and o,t2are y te; . +he

-ro;otion ,or NSE 2ere ,inan'ia( in tit:tion , in :ran'e 'o;-anie , 6an7 an SEB1 'a-ita( ;ar7et (td., 1n,ra tr:'t:re (ea ing and ,inan'ia( er=i'e (td. and to'7 ho(ding 'or-oration (td. 1t ha 6een et :- to trengthen the ;o=e to2ard -ro,e iona(i ation o, the 'a-ita( ;ar7et a 2e(( a -ro=ide nation 2ide e':ritie trading ,a'i(itie to in=e tor . NSE i not an e>'hange in the traditiona( en e 2here 6ro7er o2n and ;ange the e>'hange. A t2o tier ad;ini trati=e et :- in=o(=ing a 'o;-any 6oard and a go=erning a6road o, the e>'hange i en=i aged. NSE i a nationa( ;ar7et ,or hare PSU 6ond , de6ent:re and go=ern;ent e':ritie and trading ,a'i(itie are -ro=ided. in'e in,ra tr:'t:re

NSE3NIFTY
+he NSE on A-ri( %%, 9))* (a:n'hed a ne2 e<:ity 1nde>. +he NSE-5#. +he ne2 inde>, 2hi'h re-(a'e the e>i ting NSE-9## inde>, i e>-e'ted to er=e a an a--ro-riate 1nde> ,or the ne2 eg;ent o, ,:t:re and o-tion ./Ni,tyA ;ean Nationa( 1nde> ,or ?i,ty Sto'7 .+he NSE-5# 'o;-ri e 5# 'o;-anie that re-re ent %# 6oard 1nd: try gro:- 2ith an aggregate ;ar7et 'a-ita(iBation o, aro:nd R . 9,7#,### 'rore . A(( 'o;-anie in'(:ded in the 1nde> ha=e a ;ar7et 'a-ita(iBation in e>'e an i;-a't 'o t o, (e o, R . 5## 'rore ea'h and ho:(d ha=e traded ,or $5M o, trading day at than 9.5M.

+he 6a e -eriod ,or the '(o e o, -ri'e on No= 3, 9))5, 2hi'h ;a7e one year o, 'o;-(etion o, o-eration o, NSEE 'a-ita( ;ar7et eg;ent. +he 6a e =a(:e o, the 1nde> ha 6een et at 9###.

NSE3MID5AP INDE;
+he NSE ;ad'a- 1nde> or the H:nior Ni,ty 'o;-ri e 5# to'7 that re-re ent %9 a6road 1nd: try gro:- and 2i(( -ro=ide -ro-er re-re entation o, the ;ad'a- eg;ent o, the 1ndian 'a-ita( Mar7et. A(( to'7 in the inde> ho:(d ha=e ;ar7et 'a-ita(iBation o, greater than R . %## 'rore and ho:(d ha=e traded $5M o, the trading day at an i;-a't 'o t o, (e %.5 M.

+he 6a e -eriod ,or the inde> i No= 4, 9))*, 2hi'h igni,ie t2o year ,or 'o;-(etion o, o-eration o, the 'a-ita( ;ar7et eg;ent o, the o-eration . +he 6a e =a(:e o, the 1nde> ha 6een et at 9###. A=erage dai(y t:rn o=er o, the -re ent 'enario %5$%9% "La'e & and n:;6er o, a=erage dai(y trade %9*# "La'e &. At 2re8ent, there *re "& 8toc< e:ch*n e8 reco niAe( )n(er the 8ec)ritie8 cont*ct 0re )-*tion1 Act, 4B%>.

BRO+ING ,OUSES

1D1D1Dire't "or 1D1D1Dire't.'o;& i M:t:a( ?:nd and Bond .

to'7 trading 'o;-any o, 1D1D1 Ban7. A(ong 2ith to'7

trading and trading in deri=ati=e in BSE and NSE, it a( o -ro=ide ,a'i(ity to in=e t in 1P0 ,

T.2e of Acco)nt
1D1D1Dire't o,,er 3 di,,erent on(ine trading -(at,or; to it ': to;er !

Sh*re Tr*(in Acco)nt Share +rading A''o:nt 6y 1D1D1Dire't i ;ain(y ,or 6:ying and e((ing o, to'7 in BSE and NSE. +hi a''o:nt a((o2 Da h +rading, Margin +rading, Margin P(: +rading, S-ot +rading, B:y +oday Se(( +o;orro2 and Da(( and +rade on -hone. +hey a( o -ro=ide in ta((a6(e a--(i'ation ter;ina( 6a ed a--(i'ation ,or high =o(:;e trader. Wi8e InCe8t/ent Acco)nt A(ong 2ith M? and 1P0 in=e ting in BSE and NSE, 8i e 1n=e t;ent a''o:nt a( o -ro=ide o-tion to in=e t in M:t:a( ?:nd , aro:nd 9) M:t:a( ?:nd 'o;-anie and 6ond . 1D1D1 Dire't o,,er =ario: o-tion 2hi(e in=e ting in M:t:a( ?:nd (i7e P:r'ha e M:t:a( ?:nd, Rede;-tion and 2it'h 6et2een di,,erent 'he;e , Sy te;ati' 1n=e t;ent -(an , Sy te;ati' 2ithdra2a( -(an and tran ,erring e>i ting M:t:a( ?:nd in to e(e'troni'

;ode. +hi a''o:nt a( o -ro=ide ,a'i(ity to inCe8t in GoCern/ent of In(i* Bon(8 *n( I5I5I B*n< T*: S*Cin Bon(8. 1D1D1Dire't.'o; 2e6 ite i the -ri;ary too( to in=e t in M:t:a( ?:nd , 1P0 , Bond and to'7 trading. ActiCe Tr*(er Acco)nt A'ti=e +rader a''o:nt gi=e ;ore -er ona(iBed in=e t;ent o-tion to the in=e tor . 1t a((o2 in=e tor to : e on(ine and o,,(ine to'7 trading. 1t a( o -ro=ide 2ith inde-endent ;ar7et e>-erti e and :--ort thro:gh a dedi'ated Re(ation hi- Manager ,ro; 1D1D1. A'ti=e +rader a( o -ro=ide 'o;;odity trading.

Bro<er* e *n( fee8

Acco)nt o2enin fee8 ! R )75G- "non-re,:nda6(e& Bro<er* e! 1D1D1Dire't.'o; 6ro7erage =arie on =o(:;e o, trade and in'(: i=e o, de;at tran a'tion 'harge , er=i'e ta>e and 'o:rier 'harge ,or 'ontra't note . 1t range ,ro; #.9M to #.95M ,or ;argin trade , #.%M to #.4%5M ,or <:ared o,, trade and #.4M to #.75M on de(i=ery 6a ed trade .

A(C*nt* e8 of I5I5IDirect

 3-in-9 a''o:nt integrate yo:r 6an7ing, 6ro7ing and de;at a''o:nt . A(( a''o:nt are ,ro; 1D1D1 and =ery 2e(( integrated. +hi ,eat:re ;a7e 1D1D1 the ;o t intere ting -(ayer in on(ine trading ,a'i(ity.

 Un(i7e ;o t o, the on(ine trading 'o;-anie in 1ndia 2hi'h re<:ire tran ,erring ;oney to the 6ro7erE -oo( or to2ard de-o it , at 1D1D1 Dire't yo: 'an ;anage yo:r o2n de;at and 6an7 a''o:nt thro:gh 1D1D1dire't.'o;..  1n=e t;ent on(ine in 1P0 , M:t:a( ?:nd , G01 Bond , and Po ta( Sa=ing S'he;e a(( ,ro; one 2e6 ite. Genera( 1n :ran'e i a( o a=ai(a6(e ,ro; 1D1D1 Lo;6ard.  +rading i a=ai(a6(e in 6oth BSE and NSE.

Di8*(C*nt* e8 of I5I5IDirect

Getting a''e

to 1D1D1Dire't.'o; 2e6 ite d:ring ;ar7et e ion 'an 6e ,r: trating.

 1D1D1 Dire't 6ro7erage i high and not negotia6(e.  Not a(( to'7 are a=ai(a6(e :nder Margin P(:  ?a'i(ity ,or (in7ing a''o:nt o, 1D1D1 Ban7 0n(y

Re(ian'e Money, A gro:- 'o;-any o, Re(ian'e Da-ita( Li;ited, i the ,inan'ia( er=i'e di=i ion o, the R 9#N### Drore Re(ian'e Ani( Dhir:6hai A;6ani Gro:-. Re(ian'e Money ha o=er %% (a7h ': to;er and ;ore than 9#N### 6ran'he in aro:nd 5### 'itie in 1ndia. Do;-any i a;ong the (arge t 6ro7ing and di tri6:tion ho: e o, ,inan'ia( -rod:'t and ha=ing hare o, ;ore than 3M o, tota( to'7 ;ar7et =o(:;e at BSE @ NSE. Re(ian'eMoney.'o; ena6(e it ': to;er to in=e t @ ;anage ;o t o, the er=i'e -ro=ided 6y Re(ian'e Money in'(:ding E<:ity "Sto'7& +rading, Do;;odity +rading, Deri=ati=e , M:t:a( ?:nd 1n=e t;ent, 1P0 1n=e t;ent, Li,e 1n :ran'e , Genera( in :ran'e , Money +ran ,er, ?ore> e>'hange, Go(d Doin and Dredit Dard Ser=i'e . Do;-any re'ent(y entered in to 8ea(th Manage;ent 2ith too( (i7e in=e t;ent in e<:ity-(in7ed -ort,o(io ;anage;ent er=i'e , tr:'t:red -rod:'t , in :ran'e and ;:t:a( ,:nd . +he Re(ian'e Money to'7 trading 2e6 ite : e 2hi'h ;a7e on(ine trading ;ore -e'ia( e':rity ,eat:re DSec)rit. To<enE

e':re 2itho:t 'o;-(e>ity.Sto'7 +rading thro:gh 1ndia and thro:gh

Re(ian'eMoney.'o; i a=ai(a6(e ,or BSE and NSE to'7 e>'hange . 0,,(ine trading i a( o a=ai(a6(e thro:gh Re(ian'e Money -artner in ;ore than 5### 'ity a'ro -hone 6y dia(ing #%%-3)$$*###. +he in=e t;ent o-tion a=ai(a6(e 2ith Re(ian'e Money on(ine -orta( are a 6e(o2!  E<:ity "Sto'7& +rading at BSE, NSE and NSE ?@0  1P0 1n=e t;ent  Deri=ati=e +rading  ?ore> +rading  Do;;odity +rading "Go(d, Si(=er, Dr:de et'....& at MDJ, NDDEJ and NMDE.  M:t:a( ?:nd 1n=e t;ent  Li,e @ Genera( 1n :ran'e  NP:re S2i N Go(d Doin ")).))M -:re, %4 'arat&

Tr*(in 2-*tfor/8
Re(ian'e Money -ro=ide 3 di,,erent trading -(at,or; ,or e<:ity trading! 9. In8t* Tr*(e %. F*8t Tr*(e 3. E*8. tr*(e Re-i*nce Mone. Technic*- An*-.8i8 0A 2*i( 8erCice1 Re(ian'e Money o,,er a i;-(i,ied, a:to;ated, o-hi ti'ated te'hni'a( ana(y i to 1ndian retai( 6ro7ing 'on :;er 2ith the he(- o, Re'ogniaN +e'hni'a( Ana(y i too( . Re'ognia, a Danada 6a ed 'o;-any, ha -ro-rietary -attern re'ognition te'hno(ogy 'a-a6(e o, re'ogniBing -attern in the -ri'e 'hart o, any -:6(i'(y traded ,inan'ia( in tr:;ent in'(:ding to'7 , 6ond , ,:nd , 'o;;oditie , ':rren'ie and inde>e . +he te'hni'a( er=i'e are a=ai(a6(e ,or introd:'tory ,ree 7-day tria( -eriod to Re(ian'e Money : er . Po t the trai( -eriod, thi er=i'e i a=ai(a6(e to : er at a no;ina( :6 'ri-tion o, than Re 9 a day. R . )) ,or 3 ;onth G R . 97) ,or * ;onth G R . %)) ,or a year, i.e., (e Re-i*nce Mone. Bro<er* e *n( fee8! Re(ian'e Money o,,er (o2e t 6ro7erage rate in todayN on(ine to'7 trading ind: try in 1ndia. +he 6ro7erage are a (o2 a #.#75M ,or de(i=ery 6a ed trading and #.#% ,or no2 de(i=ery. ?or ;ore detai( a6o:t Re(ian'e MoneyE 6ro7erage and ,ee =i it the 6e(o2 e'tion o, thi 2e6-age.

A(C*nt* e8 of Re-i*nce Mone.
 E>tra e':rity ,eat:re 2ith NSe':rity +o7enEN, 2hi'h i the ;o t e':re and te ted te'hno(ogy in 'o;-:ter 2or(d.  Si;-(e, ea y and ,a t on(ine to'7 trading.

 A(;o t a(( in=e t;ent o-tion are a=ai(a6(e :nder one a''o:nt in'(:ding E<:ity +rading, Deri=ati=e , ?ore>, Do;;odity, 1P0, M:t:a( ?:nd and 1n :ran'e.

Di8*(C*nt* e8 of Re-i*nce Mone.

 D: to;er Ser=i'e i not that good.

Share7han i on(ine to'7 trading 'o;-any o, SS41 Gro:-, -ro=ider o, 1ndia-6a ed in=e t;ent 6an7ing and 'or-orate ,inan'e er=i'e. Share7han i one o, the (arge t to'7 6ro7ing ho: e in the 'o:ntry. S.S. 4anti(a( 1 h2ar(a( Se':ritie Li;ited "SS41& ha 6een a;ong 1ndiaE (eading 6ro7ing ho: e ,or ;ore than a 'ent:ry. Share7hanN e<:ity re(ated er=i'e in'(:de trade e>e':tion on BSE, NSE, Deri=ati=e , 'o;;oditie , de-o itory er=i'e , on(ine trading and in=e t;ent ad=i'e. +rading i a=ai(a6(e in BSE and NSE. A(ong 2ith Share7han.'o; 2e6 ite, Share7han ha aro:nd 59# o,,i'e " hare ho- & in 97# 'itie aro:nd the 'o:ntry. Share 7han ha one o, the 6e t tate o, art 2e6 -orta( -ro=iding ,:nda;enta( and tati ti'a( in,or;ation a'ro a( o a''e e<:ity, ;:t:a( ,:nd and 1P0 . Co: 'an :r, a'ro 5,5## 'o;-anie ,or inde-th in,or;ation, detai( a6o:t ;ore than 9,5## ;:t:a( ,:nd 'he;e and 1P0 data. Co: 'an other ;ar7et re(ated detai( :'h a 6oard ;eeting , re :(t anno:n'e;ent , ?11 tran a'tion , 6:yingG e((ing 6y ;:t:a( ,:nd and ;:'h ;ore.

T.2e of Acco)nt

Sh*re<h*n 5-*88ic *cco)nt

A((o2 in=e tor to 6:y and e(( to'7 on(ine a(ong 2ith the ,o((o2ing ,eat:re (i7e ;:(ti-(e 2at'h (i t , 1ntegrated Ban7ing, de;at and digita( 'ontra't , Rea(-ti;e -ort,o(io tra'7ing 2ith -ri'e a(ert and 1n tant 'redit @ tran ,er.  0n(ine trading a''o:nt ,or in=e ting in E<:itie and Deri=ati=e  ?ree trading thro:gh Phone "Dia(-n-+rade& • • • • • +2o dedi'ated n:;6er ,or -(a'ing yo:r order 2ith yo:r 'e((-hone or (and(ine. A:to;ati' ,:nd tran ,er 2ith -hone 6an7ing ",or Diti6an7 and 5D?D 6an7 ': to;er & Si;-(e and Se':re 1ntera'ti=e 3oi'e Re -on e 6a ed a:thenti'ation get the tr: ted, -ro,e iona( ad=i'e o, o:r te(e6ro7er A,ter ho:r order -(a'e;ent ,a'i(ity 6et2een $.## a; and ).3# a; y te; ,or

 1ntegration o,! 0n(ine trading I Ban7 I De;at a''o:nt  1n tant 'a h tran ,er ,a'i(ity again t -:r'ha e @ a(e o, hare  1n=e t;ent and trade 'on,ir;ation 6y e-;ai(  Sing(e 'reen inter,a'e ,or 'a h and deri=ati=e

Sh*re<h*n S2ee( Tr*(e *cco)nt

+hi a''o:nt ,or a'ti=e trader 2ho trade ,re<:ent(y d:ring the dayN trading e ion. ?o((o2ing are ,e2 -o-:(ar ,eat:re o, S-eed+rade a''o:nt.

 Sing(e 'reen inter,a'e ,or 'a h and deri=ati=e  Rea(-ti;e trea;ing <:ote 2ith 1n tant order E>e':tion @ Don,ir;ation  5ot 7ey i;i(ar to a traditiona( 6ro7er ter;ina(

 A(ert and re;inder  Ba'7-:- ,a'i(ity to -(a'e trade on Dire't Phone (ine

Bro<er* e!

So;e to'7 trading 'o;-anie 'harge dire't -er'entage 2hi(e other 'harge a ,i>ed a;o:nt -er R 9##. Share7han 'harge #.5M ,or inter day hare and #.9M ,or intra day or yo: 'o:(d ay Share7han 'harge 5# -ai e -er R 9##.

A(C*nt* e8 of Sh*re<h*n!

 0n(ine trading i =ery : er ,riend(y and one doe nNt need any o,t2are to a''e .  +hey -ro=ide good <:a(ity o, er=i'e (i7e dai(y SMS a(ert , ;ai( a(ert , to'7 re'o;;endation et'.  Share7han ha a6i(ity to tran ,er ,:nd ,ro; ;o t 6an7 . Un(i7e 1D1D1 Dire't, 5D?D Se', et'., o in=e tor not rea((y need to o-en an a''o:nt 2ith a -arti':(ar 6an7 a it 'an e ta6(i h (in7 2ith ;o t ;odern 6an7 .

Di8*(C*nt* e8 of Sh*re<h*n!

 +hey 'harge ;ini;:; 6ro7erage o, 9# -ai a -er to'7 2o:(d not (et yo: trade to'7 6e(o2 %# r . "1, yo: trade, yo: 2i(( (oo e ;a.ority o, yo:r ;oney in 6ro7erage&.  Lot o, hidden r:(e and 'harge .  +hey do not -ro=ide ,a'i(ity to 6oo7 (i;it order trade d:ring a,ter-ho:r .  D(a i' a''o:nt ho(der 'annot trade 'o;;oditie .  Dannot -:r'ha e ;:t:a( ,:nd on(ine.

4ota7 Se':ritie Li;ited, a :6 idiary o, 4ota7 Mahindra Ban7, 2a

et :- in 9))4.

4ota7 Se':ritie i a 'or-orate ;e;6er o, 6oth Bo;6ay Sto'7 E>'hange "BSE& and Nationa( Sto'7 E>'hange "NSE&. D:rrent(y, 4ota7 Se':ritie i one o, the (arge t 6ro7ing ho: e in 1ndia 2ith 2ide geogra-hi'a( rea'h. 4ota7 e':ritie on(ine trading, i the on(ine trading -orta( o, the 4ota7 Se':ritie Ltd, the (eading to'7 6ro7ing ho: e o, 1ndia. +he on(ine di=i ion o, 4ota7 Se':ritie Li;ited -ro=ide er=i'e (i7e internet 6ro7ing er=i'e , on(ine 1P0 and ;:t:a( ,:nd in=e t;ent . A55OUNT TYPES! 4ota7 o,,er di,,erent a''o:nt ty-e a''ording to : er re<:ire;ent!

+ot*< G*te=*.

4ota7 e':ritie gate2ay a''o:nt o-en the gate2ay to a 2or(d o, in=e ting o--ort:nitie ,or 6eginner . 4ota7 gate2ay : er 'an trade any2here, anyti;e : ing internet. 4ota7 a( o o,,er 'a(( and trade ,a'i(ity. +hey -ro=ide ; a(ert, re ear'h re-ort, ,ree ne2 and ;ar7et :-date . Be t ,eat:re o, 4ota7 gate2ay i 'a(( and trade ,a'i(ity. Any6ody 'an a'ti=ate 4ota7 e':ritie gate2ay a''o:nt 2ith any a;o:nt 6et2een R %#,### to 5, ##,###. +hi 'an 6e in ,or; o, 'a h de-o it or the =a(:e o, the hare yo: 6:y. Bro7erage 2i(( 6e 'harged 6a ed on the a''o:nt ty-e. ?or intraday trading 6ro7erage i .#*M 6oth ide ,or (e then %5 (a7h and .#%3M ,or ;ore then %5 'rore .

+ot*< PriCi-e e 5irc-e
+hi i the -re;i:; a''o:nt ,or it : er . A(ong 2ith 7ota7 gate2ay a''o:nt 6ene,it they -ro=ide inde-endent ;ar7et e>-erti e and :--ort thro:gh a dedi'ated re(ation hi- ;anager and a dedi'ated ': to;er er=i'e de 7 2hi'h -ro=ide a i tan'e in o-ening a''o:nt , hand(ing day-to-day -ro6(e; , and ;ore. +hey -ro=ide 4EA+ -re;i:; 2hi'h i an e>'(: i=e on(ine too( that (et yo: ;onitor 2hat i ha--ening in the ;ar7et and =ie2 yo:r gain and (o e in rea(-ti;e. 0ne 'an a'ti=ate 4ota7 e':ritie -ri=i(ege 'ir'(e a''o:nt 2ith any a;o:nt ;ore than R . 9#, ##,###G- a ;argin, 6y 2ay o, 'a h or to'7. ?or intraday trading 6ro7erage i .#*M 6oth ide ,or (e then %5 (a7h and .#3M ,or ;ore then %5 'rore .

+ot*< ,i h Tr*(er

+hi i the 6e t o,,er ,or dai(y trader or intraday trader . +hi i an A:to S<:are 0,, -rod:'t 2here yo: 'an en.oy the 6ene,it o, intra-day trading. +rader 'an get the * ti;e e>-o :re on the ;argin. +hey -ro=ide a(( the 6ene,it 2hi'h 7ota7 gate2ay and -ri=i(ege a''o:nt -ro=ide . +rader 'an a--(y -a-er ,ree order ,or 1P0. 0ne 'an a'ti=ate 4ota7 e':ritie high trader 2ith any a;o:nt (e trader a''o:nt i 4 -ai a on de(i=ery and 4 -ai a in the 'a h eg;ent. than R 5, ##,###G- a

;argin, 6y 2ay o, 'a h or to'7. +he ;ini;:; 6ro7erage that i a--(i'a6(e in the 4ota7 high

+ot*< Free=*.

?re<:ent trader : e thi a''o:nt ty-e 6e'a: e ,ree2ay a''o:nt ena6(e itE : er to trade a ;any ti;e a they (i7e - at a ,i>ed 6ro7erage. 0ne 'an a'ti=ate 4ota7 e':ritie ,ree2ay 2ith any a;o:nt (e de(i=ery tran a'tion 6ro7erage i .5)M on (e than R . 9, %5,###G- a

;argin, 6y 2ay o, 'a h or to'7. +hey 'harge ,i>ed 6ro7erage o, R .)))G- a ;onth and on then 9(a7h and .9$M on ;ore then % 'rore .

+ot*< F-*t

+hi -rod:'t i 6e t :ited ,or the need o, the 1ndian retai( in=e tor 2ho a'ti=e(y in=e t thro:gh the internet. 4ota7 ,(at introd:'e the internationa( trend o, 'harging 6ro7erage on -er trade 6a i . Bro7erage rate 2or7 :- to #.9$M on de(i=ery trade and #.#9$M ,or intraday trade .

+ot*< A88i8t

+hi a''o:nt ;o t :it to (ong ter; in=e tor . +hi a''o:nt -ro=ide Do;-(ete a i tan'e on a(( yo:r ,inan'ia( in=e t;ent.

Bro<er* e *n( Acco)nt o2enin fee8!
A trading a''o:nt in 4ota7 re<:ire yo: to ha=e a ;ini;:; o, R .9### to tart 2ith, the 6an7 a''o:nt to ha=e a ;ini;:; o, R .%5##. Bro7erage!  ?or 1ntra-day trading, 4ota7 6ro7erage i aro:nd #.#5M.  ?or de(i=ery trading, 4ota7 6ro7erage i aro:nd #.45M.

A(C*nt* e8 of +ot*< Sec)ritie8 Li/ite(
 4ota7 -ro=ide a Da(( @ +rade ,a'i(ity to it ': to;er 2herein they 'an -(a'e and tra'7 their order thro:gh -hone 2hen they are a2ay ,ro; ho;e.  +hey -ro=ide dai(y SMS a(ert , ;ar7et -ointer , -eriodi'a( re ear'h re-ort , to'7 re'o;;endation et'.  4ota7 -ro=ide e>'(: i=e on(ine too( to ;onitor 2hat i ha--ening in the ;ar7et and a( o in=e tor 'an =ie2 gain G(o e in rea(-ti;e.

Di8*(C*nt* e8 of +ot*< Sec)ritie8 Li/ite(
 1n on(ine trading o;eti;e de(ay 'o;e . So it 'an 6e ,r: trating

1ndia6:(( i 1ndiaN (eading ?inan'ia( Ser=i'e and Rea( E tate Do;-any ha=ing -re en'e o=er 494 (o'ation in ;ore than 9%4 'itie . 1ndia6:(( ?inan'ia( Ser=i'e Ltd i (i ted on the Nationa( Sto'7 E>'hange, Bo;6ay Sto'7 E>'hange, L:>e;6o:rg Sto'7 E>'hange and London Sto'7 E>'hange.

TYPE OF A55OUNT

In(i*@)--8 EF)it. Tr*(in Acco)nt

1ndia6:(( E<:ity +rading A''o:nt i a''e

tandard 0n(ine trading a''o:nt ,ro; 1ndia 6:(( that gi=e yo: dire't to N1ndia6:(( E<:ity Ana(y i N.

and a(ong 2ith on(ine trading it a( o -ro=ide -riority te(e-hone a''e to yo:r Re(ation hi- Manager and ,:(( a''e

Po=er In(i*@)--8

Po2er 1ndia6:(( trading ter;ina( i the ;o t ad=an'ed ne2 generation trading -(at,or; 2ith great -eed. +hi trading ter;ina( i 6:i(t in HA3A. Po2er 1ndia6:(( i e>tre;e(y rea'h in ,eat:re in'(:ding Li=e Strea;ing O:ote , ?a t 0rder Entry and e>e':tion, +i' 6y +i' Li=e Dhart , +e'hni'a( Ana(y i , Li=e Ne2 and A(ert , E>ten i=e Re-ort ,or Rea(-ti;e A''o:nting.

Bro<er* e *n( fee8!

A''o:nt o-ening ,ee ! R 9%##G- "0ne ti;e, non-re,:nda6(e& a 6e(o2! %5#G- E<:ity +rading A''o:nt o-ening 'harge %##G- De;at A''o:nt o-ening 'harge 75#G- So,t2are 'hange

A(C*nt* e8 of In(i*@)--8
 Bro7erage i (e 'o;-are to other on(ine trading 'o;-anie .

 Pro=ide trading ter;ina( N-o2er6:(( N, a .a=a 6a ed o,t2are. 1tN =ery ,a t in ter; o, -eed and e>e':tion.

Di8*(C*nt* e8 of In(i*@)--8
 ?a'e (ot o, 'o;-(aint regarding -orta( 6rea7do2n.

Moti(a( 0 2a( ?inan'ia( Ser=i'e "M0SL&, a (eading 6ro7erage ,ir;, ha e>hi6ited ro6: t and 'on i tent gro2th in 6oth in tit:tiona( and retai( 6ro7ing. An e ta6(i hed 6rand na;e and e>ten i=e geogra-hi' net2or7 'o=ering 9,33) (o'ation in o=er 4%* 'itie and to2n 2o:(d -ro=ide it a;-(e o--ort:nitie to 'ro - e(( -rod:'t and er=i'e . 1t ha a( o ,orayed into re(ated 6: ine e (i7e in=e t;ent 6an7ing, -ri=ate e<:ity and a et ;anage;ent. 8e 6e(ie=e the to'7 o,,er <:a(ity e>-o :re to the do;e ti' e<:ity 6ro7ing and ,inan'ia( er=i'e ;ar7et, 2hi'h ha i;-re i=e gro2th -otentia(. Stron co/2etitiCe 2o8itionin M0SL i one o, the (eading to'7 6ro7ing ,ir; in 1ndia 2ith a ra-id(y gro2ing '(ient 6a e and 2ide di tri6:tion net2or7. A re -e'ted re ear'h -re en'e and e>ten i=e rea'h ha re :(ted in ro6: t gro2th in it retai( 6: ine . +he 'o;-any a( o ha a trong in tit:tiona( e<:ity 6: ine . 1t ha 'on i tent(y i;-ro=ed it ;ar7et hare in ter; o, traded =o(:;e on the to'7 e>'hange DiCer8if.in into re-*te( @)8ine88e8 M0SL ha ,orayed into re(ated 6: ine ;anage;ent. +ho:gh a(( the e 6: ine (i7e in=e t;ent 6an7ing, -ri=ate e<:ity and a et

are (in7ed to 'a-ita( ;ar7et, 2e 6e(ie=e the ;o=e 2o:(d

6ring in =ario: di=er i,i'ation 6ene,it ,or the 'o;-any going ,or2ard 5)8to/iAe( inCe8t/ent /*n* e/ent 8erCice8 M0SL o,,er ': to;iBed in=e t;ent ;anage;ent er=i'e to it retai( '(ient . +he e er=i'e in'(:de -(anning, ad=i ory, e>e':tion and ;onitoring a range o, in=e t;ent -rod:'t . 1t a( o -ro=ide 2ea(th ;anage;ent er=i'e .+he 'o;-any ha '(a i,ied it '(ient into three eg;ent P Ma Retai(, Mid-+ier Mi((ionaire and "PDG& Pri=ate D(ient Gro:-. A''ording to the need o, ea'h eg;ent, -rod:'t and er=i'e are o,,ered thro:gh the 'o;-anyE 6: ine

(o'ation and on(ine 'hanne( . M0SL ha a di 'retionary -ort,o(io ;anage;ent 6: ine . +he 'o;-any i ee7ing to 6:i(d thi 6: ine ra-id(y. +he target ': to;er eg;ent ,or 2ea(th ;anage;ent 6: ine 2o:(d (arge(y 6e the 5N8 "high net-2orth& eg;ent. +he gro2ing '(ient

6a e o, it 6ro7ing and di tri6:tion 6: ine e 2o:(d 6e a 'a-ti=e o:r'e ,or 'ro - e((ing the e -rod:'t . M0SL ha re'ent(y (a:n'hed a e-arate 6randed -rod:'t "P:r-(e& ,or 'atering to the need o, thi eg;ent.

Str*te . *(o2te( @. Moti-*- O8=*-

Re(igare Se':ritie Ltd i a Ran6a>y -ro;oter gro:- 'o;-any, i one o, 1ndiaE (arge t and ,a te t gro2ing integrated ,inan'ia( er=i'e in tit:tion . +he 'o;-any o,,er a (arge and di=er e 6o:<:et o, er=i'e ranging ,ro; e<:itie , 'o;;oditie , in :ran'e 6ro7ing, to 2ea(th ad=i ory, -ort,o(io ;anage;ent er=i'e , -er ona( ,inan'e er=i'e , 1n=e t;ent 6an7ing and in tit:tiona( 6ro7ing er=i'e . Re(igareE retai( net2or7 -read a'ro -re en'e thro:gh ;ore than )## (o'ation a'ro it e(, ,air(y 2e(( a'ro aggre i=e(y tarted eyeing g(o6a( geogra-hie . the (ength and 6readth o, the 'o:ntry 2ith it ;ore than 3## 'itie and to2n . 5a=ing -read

the 'o:ntry and 2ith the -ro;i e o, not re ting on it (a:re( , it ha a( o

UniF)e fe*t)re8 *n( @enefit8 of tr*(in thro) h In(i*@)--8!
 Tr*(e Re=*r( +rade Re2ard i a :ni<:e o,,ering ,ro; 1ndia6:(( that gi=e yo: d:a( 6ene,it o, ha (e ,ree in=e t;ent e>-erien'e on(ine and an o--ort:nity to earn 2hi(e yo: in=e t 2ith : .  Gero Bro<er* e! /Brea7 the ha'7(e A. Get ,reedo; ,ro; 6ro7erage and a=ai( Bero 6ro7erage on yo:r trade thro:gh : .  E:2o8)re )2 to "# ti/e8 on .o)r /*r in! A((o2ing yo: the ,reedo; to trade 2itho:t ha (e thro:gho:t the day 2itho:t ha=ing to 2orry a6o:t yo:r 'a h ;argin. Co: 'an get e>-o :re "on 'a h Seg;ent& a high a %# ti;e ,or intraday trade . 0, 'o:r e 'ondition a--(y on a6o=e t2o.

 Intere8t on c*8h /*r in! E=en 2hi(e yo: are 2aiting to ;a7e yo:r ne>t trade or on(ine in=e t;ent, yo:r :n:ti(iBed 'a h doe not (ie id(e 2ith : . Co: earn intere t on yo:r :n:ti(iBed 'a h ;argin.

+he 1ndia1n,o(ine gro:-, 'o;-ri ing the ho(ding 'o;-any, 1ndia 1n,o(ine Li;ited and it 2ho((y-o2ned :6 idiarie , tradd(e the entire ,inan'ia( -a'e 2ith o,,ering ranging ,ro; E<:ity re ear'h, E<:itie and deri=ati=e trading, Do;;oditie trading, -ort,o(io ;anage;ent er=i'e , M:t:a( ?:nd , Li,e 1n :ran'e, ?i>ed De-o it , Go(d Bond and other ;a(( a=ing in tr:;ent to (oan -rod:'t 222.5-ai a.'o;. +he 'o;-any ha a net2or7 o, )7* 6: ine a'ro (o'ation "6ran'he and S:6-6ro7er & -read 3*5 'itie and to2n . +oday it ha ;ore than $##### '(ient and in=e t;ent 6an7ing. 8e6 ite o, 1ndia 1n,o(ine ,or trading i

Tr*(in P-*tfor/ 5Pai a o,,er % di,,erent on(ine trading ter;ina( to it ': to;er ! InCe8tor Ter/in*- 0IT1 1n=e tor +er;ina( i 5Pai aN e<:ity trading ter;ina( ,or (o2 =o(:;e trader. +hi i 2e6 6a ed ter;ina( and 'o:(d a''e ,ro; any2here. +hi -rod:'t -ro=ide (i;ited ,eat:re in 'o;-ari on o, +rader +er;ina(, 2hi'h i another -rod:'t -ro=ided 6y 5Pai a. Tr*(er Ter/in*- 0TT1 +rader +er;ina( i ,or high =o(:;e e<:ity trader . +rader +er;ina( -ro=ide high =o(:;e trading 2ith -o2er,:( inter,a'e and ,a t order e>e':tion. Bro<er* e *n( Acco)nt o2enin fee8! Acco)nt o2enin fee8 R 5##G- oneti;e non re,:nda6(e Bro7erage Bro<er* e!

5 -ai a o,,er 'harge on(y 5 -ai a ,or R 9## o, intraday trade done, 2hi'h i #.#5M 6ro7erage. 1n 'a e o, in de(i=ery trade, they 'harge an additiona( #.%#M ,or 6a'7 o,,i'e and e':ritie hand(ing.

CHAPTER-3
• Company profile

INTRODU5TION
1ndia6:(( i 1ndiaN (eading retai( ,inan'ia( er=i'e 'o;-any 2ith 935 (o'ation 'itie . 8hi(e it -read a'ro )5 iBe and trong 6a(an'e heet a((o2 the; to -ro=ide yo: 2ith =aried -rod:'t

and er=i'e at =ery attra'ti=e -ri'e , o=er 75# D(ient Re(ation hi- Manager are dedi'ated to er=ing yo:r :ni<:e need . 1ndia6:(( i (ead 6y a high(y regarded ;anage;ent tea; that ha in=e ted 'ore o, r:-ee into a 2or(d '(a 1n,ra tr:'t:re that -ro=ide there '(ient 2ith rea(-ti;e er=i'e @ %4G7 a''e to a((

in,or;ation and -rod:'t . +heir ,(ag hi- In(i*@)--8 Profe88ion*- Net=or< TM o,,er rea(-ti;e -ri'e , detai(ed data and ne2 , inte((igent ana(yti' , and e(e'troni' trading 'a-a6i(itie , right at yo:r ,inger-ti- . +hi -o2er,:( te'hno(ogy i 'o;-(e;ented 6y there 7no2(edgea6(e and ': to;er ,o': ed Re(ation hi- Manager . We *re 5re*tin * Wor-( of S/*rt InCe8tor 1ndia6:(( o,,er a ,:(( range o, ,inan'ia( er=i'e and -rod:'t ranging ,ro; E<:itie to 1n :ran'e to enhan'e yo:r 2ea(th and hen'e, a'hie=e yo:r ,inan'ia( goa( . 1ndia6:(( N D(ient Re(ation hi- Manager are a=ai(a6(e to yo: to he(- 2ith yo:r ,inan'ia( -(anning and in=e t;ent need . +o -ro=ide the highe t -o i6(e <:a(ity o, er=i'e, 1ndia6:(( -ro=ide ,:(( a''e to a(( o:r -rod:'t and er=i'e thro:gh ;:(ti-'hanne(

T,E INDIABULLS P,ILOSOP,Y H YOU 5OME FIRST
8e ha=e 'reated a :ni<:e organiBation that i de igned ,or yo: P the *mart Investor :. 8e -a ionate(y 6e(ie=e in the S;art 1n=e tor 2ho 2ant to ;a7e hi o2n ed:'ated in=e t;ent 'hoi'e and de;and 2or(d '(a a''e to a ,:(( range o, er=i'e and -rod:'t ranging ,ro;

E<:itie to 1n :ran'e, 'o;6ined 2ith the highe t (e=e( o, integrity, er=i'e and -ro,e iona(i ;. 1ndia6:(( i a ,:(( er=i'e in=e t;ent ,ir; o,,ering '(ient a''e ,inan'ia( er=i'e ,ro; 935 (o'ation a'ro to a tre;endo: range o,

)5 'itie . 8e ha=e a trong tea; o, o=er 75# D(ient

Re(ation hi- Manager ,o': ed on er=ing yo:r :ni<:e need . 0:r 2or(d '(a

in,ra tr:'t:re,

6:i(t 2ith ten o, 'rore o, in=e t;ent, -ro=ide o:r '(ient 2ith rea(-ti;e er=i'e, ;:(ti-'hanne( @ %4G7 a''e to a(( in,or;ation and -rod:'t . A 2eN=e e>-anded and de=e(o-ed to er=e the

need o, a(( 7ind o, in=e tor , 2eN=e 6een g:ided 6y one :nder(ying -hi(o o-hy! .ou come first% 8e are -ro:d to introd:'e to yo: In(i*@)--8 Profe88ion*- Net=or<TM that o,,er rea(-ti;e -ri'e , e<:ity ana(y i , detai(ed data and ne2 , inte((igent ana(yti' , and e(e'troni' trading 'a-a6i(itie , right at yo:r ,inger-ti- . +hi -o2er,:( te'hno(ogy i 'o;-(e;ented 6y o:r 7no2(edgea6(e and ': to;er ,o': ed Re(ation hi- Manager 2ho are a=ai(a6(e to he(- 2ith yo:r ,inan'ia( -(anning and in=e t;ent need . 8e in=ite yo: to (earn ;ore a6o:t 1ndia6:(( 6y 'a((ing 9 *## 99 993# "to(( ,ree& or =i it o:r 935 1ndia6:(( 0,,i'e Nation2ide or e>-(ore the er=i'e 2e o,,er thro:gh the 1ndia6:(( Mar7et +rader.+M

,ISTORY AND OT,ER 5ORPORATE MATTERS OVERVIEW
In(i*@)--8 ?inan'ia( Ser=i'e Li;ited 2a in'or-orated on Han:ary 9#, %### a MG 0r6it 1n,o+e'h Pri=ate Li;ited at Ne2 De(hi :nder the Do;-anie A't, 9)5* 2ith Regi tration No. 55 P 9#39$3. +he na;e o, the Do;-any 2a 'hanged to MG . In(i*@)--8 ?inan'ia( Ser=i'e Pri=ate Li;ited on Mar'h 9*, %##9 d:e to 'hange in the ;ain o6.e't o, the Do;-any ,ro; 1n,ote'h 6: ine to 1n=e t;ent @ ?inan'ia( Ser=i'e 6: ine . 1t 6e'a;e a P:6(i' Li;ited Do;-any on

?e6r:ary %7, %##4 and the na;e o, Do;-any 2a 'hanged to MG . In(i*@)--8 ?inan'ia( Ser=i'e Li;ited. Do;-any 2a -ro;oted 6y three engineer ,ro; 11+ De(hi, and ha attra'ted ;ore than R .7## ;i((ion a in=e t;ent ,ro; =ent:re 'a-ita(, -ri=ate e<:ity and in tit:tiona( in=e tor :'h a LNM 1ndia 1nternet 3ent:re Lt(., +ran at(anti' Dor-oration Lt(., ?ara((on Da-ita( Partner , L.P., R R Da-ita( Partner L.P., and 1n,inity +e'hno(ogy +r: tee P=t. Lt(. and ha de=e(o-ed igni,i'ant re(ation hi- 2ith (arge 'o;;er'ia( 6an7 :'h a Diti6an7, 5D?D Ban7,

Union Ban7, 1D1D1 Ban7, ABN A;6ro Ban7, Standard Dhartered Ban7, Lord 4ri hna Ban7 and 1L@?S. Do;-any and there :6 idiarie ha=e ,a'i(itie ,ro; the a6o=e ;entioned 6an7 and ,inan'ia( in tit:tion aggregating to R . 97*# ;i((ion. Do;-anie head<:arter are 'o-(o'ated in M:;6ai and De(hi, a((o2ing it to a''e the t2o ;o t i;-ortant region ,or 1ndian ,inan'ia(

;ar7et , the 8e tern region in'(:ding M:;6ai, re t o, Mahara htra and G:.aratQ and the Northern region, in'(:ding the Nationa( Da-ita( +erritory o, De(hi, near6y 'itie , -art o, 5aryana, Uttar Prade h and P:n.a6Q and a''e the high(y 7i((ed and ed:'ated 2or7,or'e in

the e 'itie . +he Mar7eting and Sa(e e,,ort are head<:artered o:t o, M:;6aiQ 2ith a regiona( head<:arter in De(hiQ and it 6a'7 o,,i'e, ri 7 ;anage;ent, interna( ,inan'e et'. are

head<:artered o:t o, De(hi, a((o2ing o:r Do;-any to 'a(e the e -ro'e e e,,i'ient(y ,or the nation2ide net2or7.

M*in O@7ect8 Of The 5o/2*n.
+he ;ain o6.e't to 6e -:r :ed 6y the Do;-any on it in'or-oration are! 4. +o ho(d in=e t;ent in =ario: te--do2n :6 idiarie ,or in=e ting, a'<:iring, ho(ding, -:r'ha ing or -ro':ring e<:ity hare , de6ent:re , 6ond , ;ortgage , o6(igation , 8ec)ritie8 o, any 7ind i :ed or g:aranteed 6y o:r Do;-any. ". +o -ro=ide ,inan'ia( 'on :(tan'y er=i'e Q to -ro=ide in=e t;ent ad=i ory er=i'e on the internet or other2i eQ -ro=ide ,inan'ia( 'on :(tan'y in the area o, -er ona( and 'or-orate ,inan'eQ -:6(i h 6oo7 and DD R0M and any other in,or;ation re(ated to the a6o=e. '. +o 'ond:'t the 6: ine o, a(e, -:r'ha e , di tri6:tion and tran ,er o, hare , de6t ,

in tr:;ent and hy6rid ,inan'ia( in tr:;ent and to -er,or; a(( re(ated, in'identa(, an'i((ary and a((ied er=i'e . &. +o 'ond:'t de-o itory -arti'i-ant er=i'e Q to 'ond:'t de-;ateria(iBation and re-

;ateria(iBation o, hare Q et :- de-o itory -arti'i-ant 'enter at =ario: region in 1ndia and to -er,or; a(( re(ated, in'identa(, an'i((ary and a((ied er=i'e . %. +o re'ei=e ,:nd , de-o it and in=e t;ent ,ro; the -:6(i', Go=ern;ent agen'ie , ,inan'ia( in tit:tion and Dor-orate 6odie Q grant ad=an'e and (oan Q 'ond:'t ad=i ory er=i'e re(ated to 6an7ing a'ti=itie , -ro.e't ,inan'ing, ,:nding o, ;erger and a'<:i ition a'ti=itie Q ,:nd ;anage;ent and a'ti=itie re(ated to ;oney ;ar7et o-eration . >. +o 'arry on the 6: ine o, -ort,o(io ;anage;ent er=i'e , in=e t;ent ad=i ory er=i'e Q

': todia( er=i'e Q a et ;anage;ent er=i'e Q (ea ing and hire -:r'ha eQ ;:t:a( ,:nd er=i'e and to a't a 6ro7er o, rea( e tate and ,inan'ia( in tr:;ent . ?. +o 'arry on the 6: ine o, ,inan'ingQ -ro=ide (ea e and hire -:r'ha e er=i'e Q to -ro=ide

'on :(tan'y in the area o, (ea e and hire -:r'ha e ,inan'ing.

$.

+o o-erate ;:t:a( ,:nd Q re'ei=e ,:nd ,ro; in=e tor Q e<:ity or de6t in tr:;ent re ear'h a'ti=ity in tr:;ent in de6t andGor e<:ity in tr:;ent .

5re(it R*tin
In(i*@)--8 Sec)ritie8 Li;ited ha 6een granted RPR9IE rating ,or it :n e':red hort ter; 6orro2ing -rogra; o, R . %## ;i((ion. 3ide (etter dated May 5, %##4 the rating agen'y ha in'rea ed the :n e':red hort ter; 6orro2ing (i;it to R . 3%# ;i((ion ;aintaining the RPR9IE rating. 1SL a( o en.oy RAIE rating ,or ;edi:; to (ong ter; :n e':red 6orro2ing -rogra; o, R . %## ;i((ion. +he Rating to the 'o;-any ha 6een a igned 6y Dredit Ana(y i Re ear'h Li;ited. A ,or the -re ent i :e o, e<:ity hare o, o:r Do;-any, 'redit rating i not re<:ired.

Sh*reho-(er8 A ree/ent
Shareho(der Agree;ent 2a entered into 6y and a;ong o:r Do;-any ",or;er(y 0r6i 1n,ote'h Pri=ate Li;ited&, 1n,inity +e'hno(ogy +r: tee Pri=ate Li;ited a the tr: tee o, 1n,inity 3ent:re 1ndia ?:nd, LNM 1ndia 1nternet 3ent:re Li;ited, +ran at(anti' Dor-oration Li;ited "together the /3D 1n=e tor A& and the Pro;oter dated No=e;6er %, %###. +he 3D 1n=e tor in=e ted an aggregate a;o:nt o, R . %#*,###,### in o:r Do;-any ,or 2hi'h they 2ere i :ed 55,4%5 e<:ity hare at an a=erage -ri'e o, R . 3,79*.73 -er e<:ity hare. P:r :ant to a (etter agree;ent "the /Letter Agree;entA& dated May %7, %##4 6et2een the -artie to the Shareho(der Agree;ent, ea'h o, the 3D 1n=e tor ha=e agreed not to en,or'e right that ha=e a''r:ed to the; 6e,ore the aid Letter Agree;ent and ha=e agreed that the Shareho(der Agree;ent, together 2ith a(( the right and o6(igation on the -artie 2i(( tand ter;inated i;;ediate(y :-on the (i ting o, the hare o, o:r Do;-any and 'on e<:ent to the (i ting, the right o, the Shareho(der Agree;ent, in'(:ding the right that ha=e ari en -rior to :'h ter;ination ha(( 6e ter;inated. A 'o-y o, the Shareho(der Agree;ent, and a 'o-y o, the Letter Agree;ent ter;inating the Shareho(der Agree;ent are a=ai(a6(e ,or in -e'tion a ;ateria( do':;ent at the 'or-orate o,,i'e o, o:r Do;-any.

+e. 5o/2etitiCe Stren th8
DiCer8e Br*nch Net=or< Sin'e Do;-any in'e-tion in ?C %### Do;-any and it :6 idiarie ha=e gro2n ,ro; a ing(e

(o'ation to a nation2ide net2or7 -read o=er 935 o,,i'e in )5 'itie . +hey ha=e a -an 1ndia di tri6:tion net2or7 ,or the -:r-o e o, di tri6:tion o, ,inan'ia( -rod:'t and er=i'e . S:'h a di=er e and integrated net2or7 -ro=ide a 'entra(iBed -(at,or; to there '(ient . Bo)F)et of fin*nci*- 2ro()ct8 *n( 8erCice8 Do;-any and it :6 idiarie o,,er =ario: ,inan'ia( er=i'e and -rod:'t ranging ,ro; e<:ity,

? @ 0 and 2ho(e a(e de6t, ;:t:a( ,:nd, in :ran'e and 1P0 di tri6:tion, e<:ity re ear'h ana(y i , de-o itory er=i'e to 'ater to the -e'i,i' need o, the retai( and in tit:tiona( in=e tor th: -ro=iding a(( the e er=i'e in a ing(e -(at,or;. A(C*nce( Techno-o . te*/ th*t (e-iCer8 /*r<et -e*(in 2ro()ct innoC*tion +here ongoing in=e t;ent in te'hno(ogy i a 7ey e(e;ent in e>-anding there -rod:'t and er=i'e o,,ering , enhan'ing there de(i=ery y te; , -ro=iding ,a t and 'on i tent '(ient er=i'e, red:'ing -ro'e ing 'o t , and ,a'i(itating there a6i(ity to hand(e igni,i'ant in'rea e in '(ient a'ti=ity 2itho:t a 'orre -onding ri e in ri 7 and ta,,. Do;-any and it :6 idiarie ha=e an in-ho: e

te'hno(ogy tea; o, %7 -eo-(e 'o;-ri ing o, e=era( engineer . +he in-ho: e te'hno(ogy tea; ha 6een re -on i6(e ,or de=e(o-ing the te'hno(ogy -rod:'t ,or o-erating at a (arge 'a(e 2ith e,,i'ient 6a'7 o,,i'e y te; . +he a--(i'ation o, te'hno(ogy a((o2 Do;-any and it :6 idiarie

to 6:i(d 'a(ea6(e -rod:'t and er=i'e o,,ering . +he in-ho: e te'hno(ogy tea; de=e(o-ed one o, the ,ir t 1nternet trading -(at,or; in 1ndia, one o, the ,ir t in-ho: e rea(-ti;e D+DL (in7 2ith NSE. Do;-any and it 2ith '(ient 6an7 a''o:nt :6 idiarie introd:'ed integrated a''o:nt 2ith a:to;ated gate2ay o that they 'an tran ,er ,:nd to and ,ro; their 6an7 a''o:nt to their their ,:nd

6ro7erage a''o:nt 2ith the Do;-any. +hi ha enhan'ed ': to;er a6i(ity to a''e

,or ;ar7et re(ated a'ti=itie . +he in-ho: e te'hno(ogy tea; ha good e>-erti e to 'reate ;i ion 'riti'a( a--(i'ation and in the ;aintenan'e and :-7ee- o, high tran a'tion -ro'e ing o, there 2e6- ite. Stron S*-e8 *n( M*r<etin Te*/8 =ith contin)o)8 reinCe8t/ent *n( tr*inin Do;-anyE re(ation hi- ;anager 'hanne( "thro:gh a tea; o, 9#5# Re(ation hi- Manager a on A-ri( 3#, %##4& o,,er a ing(e -oint 'onta't to retai( ': to;er 2here6y their high net 2orth '(ient ha=e e-arate re(ation hi- ;anager 'atering to the;. +he e ;anager o,,er -er ona(iBed er=i'e to the ': to;er he(-ing 6:i(d trong and 'ontin:ing re(ation hi- 2ith the;. A( o, o:r ;ar7eting a o'iate 'hanne( he(- Do;-any and it :6 idiarie in '(ient a'<:i ition at ;ini;a(

'o t 2ith '(ient (oya(ty. +he ;ar7eting a o'iateE 'hanne( a( o he(- Do;-any and it :6 idiarie in in'rea ing their -enetration in ;a((er to2n and 'itie . Stron cro88 Se--in O22ort)nitie8 8ith 935 6ran'he -read o=er )5 'itie a(( o=er 1ndia and =ariety o, ,inan'ia( -rod:'t and

o,,ering 'o:-(ed 2ith on(ine, re(ation hi- ;anager @ ;ar7eting a o'iate 'hanne( , Do;-any and it :6 idiarie ha=e trong 'ro -rod:'t e((ing o--ort:nitie th: -ro=iding a ;:(ti-

'hanne( de(i=ery y te; to there di=er e '(ient 6a e o, 79,### '(ient a on H:(y 9#, %##5. Stron Te*/ of E:2erience( Pro/oter8 1ndia6:(( ha a trong tea; o, -ro;oter 2ho are engineer ,ro; 1ndian 1n tit:te o, +e'hno(ogy and ha=e e=era( year E e>-erien'e in ,inan'ia( er=i'e ind: try. +hey 6e(ie=e that their trong te'hni'a( e>-erien'e 2i(( he(- the; in a'hie=ing o:r 7ey 6: ine Le*(in Pro()ct innoC*tion *n( /*r<etin 8tr*te ie8 Manage;ent i inno=ati=e and ni;6(e and ha hi tori'a((y introd:'ed ;any ne2 and inno=ati=e -rod:'t to the ;ar7et -(a'e that ha=e -(ayed a igni,i'ant ro(e in their gro2th. Do;-anyE re(ation hi- ;anager ;ode( ha introd:'ed -ri=ate 6an7ing e>-erien'e to the '(ient . +he re(ation hi- ;anager are trained and in'enti=e to 2or7 2ith their '(ient 6a e and enhan'e trategie .

a6i(ity to 'ro

e(( and (e=erage the (arge '(ient 6a e. 1ndia6:(( ha=e (a:n'hed ;ar7eting

a o'iate ;ode(, 2hi'h re-(a'e the traditiona( :6-6ro7er ;ode( 2ith an a:thoriBed -er on that '(ient 'an a--oint inde-endent(y and -ro=ide the; 2ith the 6ene,it o, their trading, '(earing and er=i'ing trength . 1t e<:ity ana(y i -rod:'t -ro=ide '(ient 2ith :n6ia ed re ear'h. Do;-any -(an to 'ontin:o: (y inno=ate and introd:'e ;ar7et (eading -rod:'t and er=i'e to add to it 'o;-etiti=e ad=antage. We-- c*2it*-iAe( 2-*.er, =ith 8tron @*n<in re-*tion8hi28 *n( cre(it r*tin 8 1ndia6:(( 'on o(idated net 2orth i R . 9#%3.9) ;i((ion ;a7ing : a 2e(( 'a-ita(iBed 'o;-anie . +he Do;-any and 1SL ha=e re'ei=ed an'tioned ,a'i(itie o, R . 97*# ;i((ion ,ro; ) (eading 'o;;er'ia( 6an7 and ,inan'ia( in tit:tion . +he detai( o, the 6an7ing re(ation hi- a o, H:(y %4, %##4 are a ,o((o2 ! A@i-it. to co/@ine Peo2-e I Techno-o . in )niF)e =*.8 +hey -ro=ide ;:(ti-(e di tri6:tion 'hanne( 6y 'o;6ining -eo-(e and te'hno(ogy. D(ient 'an =i it one o, the 7# o,,i'e in 55 'itie or a''e ena6(ed too( =ia te(e-hone, 'a(( 'entre or on(ine 'hanne(. 8e6

:'h a te'hni'a( ana(y i , in,or;ation, ne2 , intera'ti=e 2e6 6a ed -rogra; and

too( and 6a'7 o,,i'e o(:tion ,or '(ient and ;ar7eting a o'iate Q Po2er In(i*@)--8 an order entry, ro:ting and ;anage;ent te'hno(ogy thro:gh te'hno(ogy -(at,or;, ,or a'ti=e(y- trading in=e tor . Stron /*r<et 2re8ence *n( incre*8e( /*r<et 8h*re -e*(8 to Cirt)o)8 c.c-e of ro=th *n( 2rofit*@i-it. +heyEre gro2ing '(ient 6a e and ;ar7et hare ha=e in'rea ed their ;ar7et -re en'e, 6rand re'ognition enhan'ed their -ro,ita6i(ity and in'rea ed the a=ai(a6(e 'redit ,a'i(itie ,ro; the 6an7 ,:rther trengthening it trong 6a(an'e heet. Do;-anyE 6rand and -ro,ita6i(ity a((o2

the; to re'r:it good and e,,i'ient e;-(oyee , 'o;-en ate the; attra'ti=e(y and -ro=ide the ,(e>i6i(ity toe ,or in=e t;ent in the 6: ine and te'hno(ogy y te; . +he e attri6:te in t:rn

ha=e a -o iti=e e,,e't on the gro2th o, it '(ient 6a e there6y in'rea ing it ;ar7et hare, (eading to higher -ro,it and 'redit ,a'i(itie and th: ,or;ing a =irt:o: 'ir'(e.

+e. B)8ine88 Str*te ie8
+heir ,o': on the '(ient ha a((o2ed Do;-any and it :6 idiarie to o,,er a range o, er=i'e

that ha=e 'hanged the in=e ting (and 'a-e and 'reated a ne2 ;ode( o, ,inan'ia( er=i'e that ;e(d -eo-(e and te'hno(ogy to -ro=ide an integrated h:;an a i ted te'hno(ogy inter,a'e er=i'e ,or in=e tor 2ho range ,ro; e(,-dire'ted ,:((-ti;e a'ti=e in=e tor to tho e 2ho -re,er to dea( 2ith thro:gh a ;ar7eting a o'iate in ;a((er to2n and 'itie . +heir 7ey trategie in'(:de!  De,end and ;aintain their di,,erentiation a the ,ir; that de(i=er ethi'a( and : e,:( er=i'e  B:i(d and e>-and /in=e ting in ightA thro:gh -rod:'t o,,ering 2hi'h i o6.e'ti=e,  Un'o;-(i'ated and not dri=en 6y 'o;;i ion  Gi=e '(ient ne2 (e=e( o, 'hoi'e tai(ored to their de ire ,or he(-, too( ,or in=e ting their a et , their 2i((ingne do 2ith the 'o;-any.  Pro=ide '(ient 2ith too( , re(ation hi- ;anager and 'hoi'e that :--ort their de ired in=e t;ent o:t'o;e . 1ndia6:(( ha de=e(o-ed a '(ient -e'i,i' a--roa'h a a 'ore e(e;ent o, it 6: ine trategy and are 'on tant(y ,o': ing on a'<:iring ne2 '(ient and to -ay ,or additiona( er=i'e and the (e=e( o, 6: ine they 'an :'h a E<:ity Ana(y i

e>-anding their ': to;er 6a e. +hey 6e(ie=e that the trong e':(ar gro2th o, the 1ndian ,inan'ia( Mar7et , d:e to in'rea ed ho: eho(d -enetration o, ,inan'ia( a et Q in'rea ing (i<:idity and ;ar7et 'a-ita(iBation o, 1ndian Mar7et , (ed 6y the (i ting o, ;any -:6(i' e'tor entitie Q and the in'rea ing a,,(:en'e o, 1ndian ho: eho(d and a=er -ro=ide an i;-et: to the gro2th -er -e'ti=e.

+hey 6e(ie=e that thi di=er i,i'ation and gro2th trategy 2i(( 'ontin:e to -rod:'e re :(t and a((o2 Do;-any and it :6 idiarie to gro2 6: ine at a ra-id -a'e irre -e'ti=e o, ;ar7et

'ondition . 1n addition, ;anage;ent 6e(ie=e that the gro2th o, the 1ndian ,inan'ia( ;ar7et , d:e to in'rea ed ho: eho(d -enetration o, ,inan'ia( a et Q in'rea ing (i<:idity and ;ar7et 'a-ita(iBation o, 1ndian ;ar7et , (ed 6y the (i ting o, ;any -:6(i' e'tor entitie Q and the in'rea ing a,,(:en'e o, 1ndian ho: eho(d and a=er , ,a=or o:r (ong ter; gro2th o:t(oo7. +he ta6(e 6e(o2 en'a- :(ate the ,inan'ia( ;etri' on an ann:a( 6a i , and 'o;-are that 2ith the Mar7et trading =o(:;e. "NSE Cear(y +rading 3o(:;e i ta7en a re-re entati=e o, Mar7et a'ti=ity&. The core 2i--*r8 of o)r @)8ine88 8tr*te . *re (i8c)88e( @e-o=! Incre*8e the n)/@er of 5-ient Re-*tion8hi28 +hey are ,o': ed on in'rea ing the n:;6er o, '(ient re(ation hi- thro:gh a 2ide net2or7 o, o,,i'e thro:gho:t 1ndia and ha=ing ;ore n:;6er o, re(ation hi- ;anager to er=i'e the e re(ation hi- . +hey -(an to gro2 their 6: ine 6y gro2ing the n:;6er o, '(ient re(ation hi- .

D:ring a do2nt:rn o, the ;ar7et they 6e(ie=e that in'rea ed n:;6er o, '(ient re(ation hi- 2i(( add ta6i(ity to their earning . Offer DiCer8ifie( Fin*nci*- Pro()ct8 I SerCice8 H 5*2t)re Gre*ter Sh*re of W*--et Do;-any and it :6 idiarie o,,er to their '(ient a 2ide range o, ,inan'ia( er=i'e and -rod:'t :iting their

a((o2ing the '(ient to (e=erage their re(ation hi- 2ith 1ndia6:(( and get -rod:'t =aried need . +hi

trategy a((o2 the; to gain / hare o, 2a((etA o, the '(ient E 'on :;-tion o,

,inan'ia( er=i'e . +hey o,,er to the '(ient a 'o;-rehen i=e -rod:'t o,,ering and are a6(e to in'rea e their re=en:e -er '(ient 6y e((ing di,,erent -rod:'t to the a;e '(ient. 1ndia6:(( o,,er e<:ity, de6t @ deri=ati=e 6ro7erage, 1P0 di tri6:tion, ;:t:a( ,:nd and in :ran'e -rod:'t . +heir trategy i to in'rea e the n:;6er o, '(ient re(ation hi- and then (e=erage tho e '(ient re(ation hi- into o,,ering in a 2ho(e :ite o, ,inan'ia( -rod:'t .

M)-ti2-e 5h*nne-8 H Enh*nce 5)8to/er E:2erience *n( O22ort)nitie8 to inter*ct =ith )8 Do;-anyE '(ient 'an a''e their -rod:'t and er=i'e thro:gh 935 o,,i'e -read a'ro )5

'itie Q thro:gh o-erator a i ted 'a(( Denter Q or thro:gh their 2e6 ite 222. in(i*@)--8.'o;Q or thro:gh their re -e'ti=e re(ation hi- ;anager or thro:gh ;ar7eting A o'iate . +he e ;:(ti-(e 'hanne( -ro=ide ,(e>i6i(ity to the '(ient and a((o2 the; to :ti(iBe their e>i ting 6: ine Re(ation hi- 2ith the; thro:gh any 'hanne( ,ro; any -art o, 1ndia. Do;-anyE trategy i to

-ro=ide the ;o t 'on=enient, e,,i'ient and =a(:e added 'hanne( to the '(ient at the (o2e t -o i6(e 'o t, and a((o2 the '(ient 2ith 'hoi'e and =aried a''e -oint . 1ndia6:(( 6e(ie=e that

their ;:(ti-(e 'hanne( trategy ha 6een -arti':(ar(y e,,e'ti=e in the a,,(:ent eg;ent 2here ;any o-hi ti'ated '(ient (i7e to ha=e a '(o e-6y o,,i'e they 'an a''e and yet ha=e the

,(e>i6i(ity o, 1nternet a''o:nt ;anage;ent, tran a'tion and e(e'troni' ,:nd tran ,er and ett(e;ent. Re-*tion8hi2 M*n* er (riCen 8*-e8 /o(e-, 2roCi(e hi h F)*-it. 8erCice *n( e:2-oit cro883 8e-- o22ort)nitie8 Do;-anyE '(ient 6ene,it ,ro; the -er ona( attention and ad=i'e o, the trained and ;oti=ated re(ation hi- ;anager . A(( it re(ation hi- ;anager are <:a(i,ied and ed:'ated -ro,e iona( , 2ho ha=e 6een e>ten i=e(y trained in-ho: e to -ro=ide the -rod:'t and er=i'e to the '(ient . +he e re(ation hi- ;anager are en'o:raged to de=e(o- (ong-ter; re(ation hi- 2ith the '(ient and 'an a''e a =ariety o, re o:r'e 2ithin the Do;-any, :'h a in :ran'e -e'ia(i t , re ear'h

er=i'e and other to add =a(:e to their '(ient . Mo t o, the '(ient ha=e dedi'ated re(ation hi;anager irre -e'ti=e o, the 'hanne( they : e. Lo= co8t *n( hi h-. 8c*-*@-e @)8ine88 1ndia6:(( ha :ti(iBed the te'hno(ogie a=ai(a6(e and ha=e 'on tant(y in=e ted in -rod:'t and inno=ation to -ro=ide an enhan'ed e>-erien'e to it ': to;er . +he 6ene,it o, :'h

in,ra tr:'t:re in'(:de integrated ': to;er trading a''o:nt 2ith de-o itary er=i'e Q e(e'troni' gate2ay ,or in tant ,:nd tran ,er to and ,ro; the 6an7 to the 6ro7erage a''o:ntQ and

'o;-rehen i=e '(ient y te; that tra'7 a(( a'ti=ity in =ario:

eg;ent . +hey 6e(ie=e that

te'hno(ogy and y te; are one o, the 7ey 'o;-etiti=e edge in ter; o, (o2ering their o-erating 'o t Q ;anaging the 6: ine Q red:'ing ri 7 and -ro=iding an enhan'ed e>-erien'e to the '(ient 2ith :-erior er=i'e tandard .

Bro<er* e Offerin
Do;-anyE retai( e<:ity 6: ine -ri;ari(y 'o=er e'ondary ;ar7et e<:ity 6ro7ing. 1t 'ater to

the need o, indi=id:a( 1ndian and Non-re ident 1ndian "NR1& in=e tor . +hey o,,er 6ro7er a i ted trade e>e':tion and a:to;ated on(ine in=e ting and trading ,a'i(itie to their ': to;er . A:to;ated on(ine in=e ting and trading in'(:de a:to;ated order -(a'e;ent and e>e':tion o, ;ar7et and (i;it e<:ity order Q and ad=an'ed trading -(at,or; ,or a'ti=e trader . A(( in=e tor ha=e ,:(( a''e to rea( - ti;e <:ote , -er ona(iBed -ort,o(io tra'7ing, 'harting and <:ote

a--(i'ation , rea(-ti;e ;ar7et 'o;;entary, rea(-ti;e <:ote and ne2 .

On-ine A)to/*te( 5h*nneA:to;ated 0n(ine B: ine 'ontri6:te ;ore than 34.*M o, it o=era(( re=en:e . +hey 'ontro(

;ore than %#M ;ar7et hare in the on(ine 6: ine . D(ient are a6(e to o6tain ,inan'ia( in,or;ation and e>e':te trade on an a:to;ated 6a i thro:gh their on(ine 'hanne( : ing -rod:'t o,,ering (i7e Po2er In(i*@)--8 and In(i*@)--8 Mar7et +rader. +hi 'hanne( i de igned to -ro=ide added 'on=enien'e ,or '(ient and ;ini;iBe it 'o t o, re -onding to and -ro'e ing ro:tine '(ient tran a'tion . 0n(ine 'hanne( in'(:de the In(i*@)--8 Gro:- Pro,e iona( Net2or7 that -ro=ide a''e =ia their 2e6- ite 222.in(i*@)--8.'o; to in,or;ation and trading er=i'e

on the 1nternet. Additiona((y, Po2er In(i*@)--8 on(ine trading y te; i de igned ,or the high =o(:;e trader and -ro=ide enhan'ed trade in,or;ation and order e>e':tion integrated o,t2are6a ed trading -(at,or; . 8hi(e ;o t '(ient tran a'tion are 'o;-(eted thro:gh the on(ine 'hanne(, they 'ontin:e to tre the i;-ortan'e o, 6(ending the -o2er o, the 1nternet 2ith

-er ona( er=i'e to 'reate a ,:((- er=i'e '(ient inter,a'e. +hey o,,er an on(ine -orta( 2here the '(ient 'an e>e':te 8ec)ritie8 -:r'ha e and a(e tran a'tion thro:gh the 1nternet. +hi 'o=er the E<:ity, De6t @ Deri=ati=e eg;ent in the 1ndian 8ec)ritie8 ;ar7et. 8ith an

o6.e'ti=e o, a i ting o:r ': to;er in ta7ing in=e t;ent de'i ion , the -orta( a( o -ro=ide ,inan'ia( in,or;ation on =ario: 'o;-anie (i ted. ?or e>e':ting a tran a'tion '(ient 'an dire't(y (og on to o:r 2e6 ite 2itho:t re<:iring any a i tan'e ,ro; o,,(ine inter;ediarie

Thir( P*rt. Fin*nci*- Pro()ct8 Offerin
+hey di tri6:te third -arty -rod:'t and er=i'e thro:gh o:r 'o;-rehen i=e retai( di tri6:tion net2or7. +he -rod:'t o,,ered in'(:de third -arty in :ran'e, ;:t:a( ,:nd and initia( and e'ondary -:6(i' o,,ering . +hey ha=e a -an 1ndia retai( di tri6:tion net2or7, 'o;-ri ing 9#5# re(ation hi- ;anager and 935 6ran'he -read o=er )5 'itie .

INTRODU5TION AND 5ON5EPT OF S,ARE TRADING
+rading in hare i o(d -heno;ena it reg:(ation had 6een tarted 2hen e':ritie 'ontra't a't had 6een ,or;ed in 9)5*. +ran ,er o, re o:r'e ,ro; tho e 2ith id(e re o:r'e to other 2ho ha=e a -rod:'ti=e need ,or the; i ;o t e,,i'ient(y a'hie=ed thro:gh the e':ritie ;ar7et. 1t -ro=ide a 'hanne( ,or rea((o'ation o, a=ing to in=e t;ent . SE5URITIES AND E;5,ANGE BOARD OF INDIA 0SEBI1 i a reg:(atory go=erning 6ody o, e':rity ;ar7et. +he SEB1 A't 9))% 2a ena'ted to e;-o2er SEB1 2ith tat:tory -o2er ,or! "a& Prote'ting the intere t o, in=e tor in e':ritie . "6& Pro;oting the de=e(o-;ent o, the e':ritie ;ar7et "'& Reg:(ating the e':ritie ;ar7et 1t reg:(atory .:ri di'tion e>tend o=er 'or-orate in the i :an'e o, 'a-ita( and tran ,er o, e':ritie . 1t ha -o2er to regi ter and reg:(ate a(( the ;ar7et a(( ;ar7et inter;ediarie and a( o to -ena(iBe the; in 'a e o, =io(ation o, the -ro=i ion o, the AD+, r:(e and reg:(ation ;ade there :nder. SEB1 ha a ,:(( a:tono;y and a:thority to reg:(ate and de=e(o- an order(y e':ritie ;ar7et. +he hare ;ar7et 'an 6e eg;ented in t2o -art one i Pri;ary Mar7et another i Se'ondary Mar7et.

Pri/*r. M*r<et
1t -ro=ide o--ort:nity to i :er o, e':ritie go=ern;ent a 2e(( a 'or-orate to rai e re o:r'e to ;eet their re<:ire;ent o, in=e t;ent . 1n thi ;ar7et 'o;-anie i :e ,re h e':rity in e>'hange o, ,:nd thro:gh -:6(i' i :e or -ri=ate -(a'e;ent . +he ;ar7et de ign ,or -ri;ary ;ar7et i -ro=ided in the -ro=i ion o, Do;-anie A't, 9)5* 2hi'h dea( 2ith i :e , (i ting and a((ot;ent o, e':ritie . +he in=e tor ha=e to a--(y the hare 6y ,i((ing the a--(i'ation ,or; i :e 6y the 'o;-any a(ong 2ith the a--(i'ation ;oney. A''ording to Di '(o :re and 1n=e tor

Prote'tion g:ide(ine o, SEB1, 9))% 'o;-any ha to di '(o e a(( the ne'e ary in,or;ation regarding -ri'ing o, i :e , (i ting re<:ire;ent , di '(o :re nor; (o'7-in--eriod ,or -ro;oter 'ontri6:tion, 'ontent o, o,,er do':;ent -re and -o t i :e o6(igation et'. Do;-any 'an i :e hare at ,a'e =a(:e, at -re;i:; or at di 'o:nt. Another ;ethod o, -ri'ing 2hi'h i no2 day 'o;;on i i :ing the e':ritie thro:gh on(ine y te; o, the to'7 e>'hange ha to 'o;-(y 2ith the e'tion 55 to *$a o, the 'o;-anie A't, 9)5* and SEB1 g:ide(ine %###. +he 'o;-any i re<:ired to enter in to an agree;ent 2ith the to'7 e>'hange 2hi'h ha=e the re<:i ite y te; ,or on(ine o,,er o, e':ritie . +he ad=antage ,or thi ne2 y te; are!"a& +he in=e tor -art 2ith ;oney on(y a,ter a((ot;ent. "6& 1t e(i;inate re,:nd e>'e-t in 'a e o, dire't a--(i'ation . "'& 1t red:'e the ti;e ta7en ,or i :e -ro'e

Secon(*r. M*r<et
Se'ondary ;ar7et i the -(a'e ,or a(e and -:r'ha e o, e>i ting e':ritie . 1t ena6(e an in=e tor to ad.: t hi ho(ding o, e':ritie in re -on e to 'hange in hi a e ;ent a6o:t ri 7 and ret:rn. 1t ena6(e hi; to e(( e':ritie ,or 'a h to ;eet hi (i<:idity need . 1t e entia((y 'o;-ri e o, the to'7 e>'hange 2hi'h -ro=ide -(at,or; ,or trading o, e':ritie and a ho t o, inter;ediarie 2ho a i t in trading o, e':ritie and '(earing and ett(e;ent o, trade . +he e':ritie are traded, '(eared and ett(ed a -er -re 'ri6ed reg:(atory ,ra;e2or7 :nder the :-er=i ion o, the e>'hange and o=er ight o, SEB1.

Tr*(in Mech*ni8/
Ear(ier trading on to'7 e>'hange in 1ndia : ed to ta7e -(a'e thro:gh o-en o:t'ry 2itho:t : e o, in,or;ation te'hno(ogy ,or i;;ediate ;at'hing or re'ording o, trade . +hi 2a ti;e 'on :;ing and ine,,i'ient. +hi i;-o ed (i;it on trading =o(:;e and e,,i'ien'y. 1n order to -ro=ide e,,i'ien'y, (i<:idity and tran -aren'y Nationa( Sto'7 E>'hange introd:'ed a nation 2ide on (ine ,:((y a:to;ated 'reen 6a ed trading y te; 2here a ;e;6er 'an -:n'h in to the 'o;-:ter

<:antitie o, e':ritie and the -ri'e at 2hi'h he (i7e to tran a't and the tran a'tion i e>e':ted a oon a it ,ind a ;at'hing a(e or 6:y order ,ro; a 'o:nter -arty. S'reen 6a ed trading

e(e'troni'a((y ;at'he order on a -ri'eGti;e -riority and hen'e ':t do2n on ti;e, 'o t and ri 7 o, error, a 2e(( a on ,ra:d re :(ting in i;-ro=ed o-erationa( e,,i'ien'y. 1t ena6(e ;ar7et -arti'i-ant , irre -e'ti=e o, their geogra-hi'a( (o'ation to trade 2ith one another and it -ro=ide e<:a( a''e to e=ery6ody.

NSE ha ;ain 'o;-:ter 2hi'h i 'onne'ted thro:gh 3ery S;a(( A-ert:re +er;ina( "3SA+& in ta((ed at it o,,i'e. +he ;ain 'o;-:ter r:n on a de,a:(t to(erant S+RA+US ;ain,ra;e 'o;-:ter at the e>'hange. Bro7er ha=e ter;ina( in ta((ed at their -re;i e 2hi'h are 'onne'ted thro:gh 3SA+ . An in=e tor in,or; a 6ro7er to -(a'e an order on hi 6eha(,.

SPE5ULATION ON T,E STO5+ E;5,ANGE
 Sto'7 e>'hange tran a'tion are ;ade either ,or the -:r-o e o, in=e t;ent or -e':(ation. • 1n=e t;ent tran a'tion are ;ade 2ith the idea o, earning a ret:rn on the e':ritie 6y ho(ding the; ;ore or (e -er;anent(y 2herea -e':(ati=e tran a'tion are ;ade 2ith the intention o, ;a7ing gain 6y di -o ing o, the e':ritie at ,a=ora6(e -ri'e .  1n=e t;ent tran a'tion re<:ire a't:a( de(i=ery o, e':ritie on the -art o, e((er and the -ay;ent o, their ,:(( -ri'e 6y it 6:yer .  S-e':(ati=e tran a'tion doe not in=o(=e ,:(( -ay;ent ,or and ta7ing de(i=ery o, the e':ritie that the -e':(ator ha=e 'ontra'ted to tran ,er. +he tran a'tion 'an 6e ;ade 6y the de-o it o, a ,ra'tiona( -art o, the -ri'e. +he =o(:;e o, -e':(ati=e tran a'tion ,ar e>'eed that o, in=e t;ent tran a'tion on a to'7 e>'hange. 1t i there,ore arg:ed that -e':(ation i ne'e ary to en :re :,,i'ient =o(:;e and 'ontin:ity o, 6: ine to'7 e>'hange. in the

 +here are %3 to'7 e>'hange ,:n'tioning in 1ndia in'(:ding the 0+DE1 "0=er the Do:nter E>'hange o, 1ndia& and the Nationa( Sto'7 E>'hange "NSE&. +he Bo;6ay Sto'7 e>'hange e ta6(i hed in 9$7$ i the o(de t in A ia. +here are o=er 9#,### 'o;-anie (i ted and the n:;6er o, in=e tor i a( o one o, the (arge t in the 2or(d. 0n(y ;e;6er and their a:thoriBed '(er7 'an enter the trading ,(oor and 'ond:'t 6:ying and e((ing o, e':ritie

MAR+ET DESIGN IN INDIAN SE5URITIES MAR+ET
 SEB1 i the -e'ia(iBed reg:(ator and i =e ted 2ith -o2er to -rote't in=e tor intere t and to de=e(o- and reg:(ate e':ritie ;ar7et.  Pri'ing o, e':ritie i ;ar7et deter;ined, either 6y the i :er thro:gh ,i>ed -ri'e or 6y the in=e tor thro:gh 6oo7 6:i(ding.  Dor-orate are a((o2ed to i :e ADR GGDR and rai e EDB . ?11 are a((o2ed to trade in 1ndian ;ar7et.  8ith regard to 'or-orate 'o;-(ian'e, there i 'on idera6(e e;-ha i on di '(o :re , a''o:nting tandard and 'or-orate go=ernan'e.  +he trading ;e'hani ; i 'reen 6a ed trading y te;, order are ;at'hed on -ri'e ti;e -riority, tran -arent, trading -(at,or; i a''e i6(e ,ro; a(( o=er the 'o:ntry.  +he ett(e;ent i done thro:gh the '(earing ho: e o, the e>'hange or the '(earing 'or-oration.  +he ett(e;ent 'y'(e i ro((ing ett(e;ent on +I% 6a i . 5o2e=er, there are -ro=i ion 2here it 'an 6e ett(ed 6y the third day.  Ba i o, ett(e;ent i ;o t(y e(e'troni'.  Se':ritie are ,ree(y tran ,era6(e and tran ,er are re'orded e(e'troni'a((y.

ORGANISATIONL 5,ART

5,AIRMAN I 5EO

Sameer Gehlant CEO

Rajeev Rattan President & CEO

Surabh Mital CEO

Gagan Banga Head online sales

Oivyesh Shah Head online sales

T S Muglani Chie! Te"h o!!i"er

Pheeta %ag&al Head' HR

(sho) Sharma *inan"e Controller

Suresh #ain $P

A55OUNTS AND FEATURES
+hro:gh =ario: ty-e o, 6ro7erage a''o:nt , they o,,er -:r'ha e and a(e o, 8ec)ritie8, 2hi'h in'(:de E<:ity, Deri=ati=e and Do;;oditie (i ted on NSE, BSE and NDDEJ. Additiona((y, they -ro=ide their '(ient a''e -rod:'t to a =ariety o, in :ran'e -rod:'t (i7e (i,e, ter; and ann:ity (i7e Bir(a S:n(i,e 1n :ran'e Do;-any.

thro:gh third--arty in :ran'e 'o;-anie

In(i*@)--8 Gro:- Signat:re D(ient i de igned to er=e e(,-dire'ted indi=id:a( in=e tor 2ho 2ant to ;anage their o2n -ort,o(io . ?or the e '(ient , they o,,er thi a''o:nt, 2hi'h i a to'7 trading a''o:nt that a((o2 '(ient to 'o;6ine in=e t;ent and 'a h in one-a''o:nt and trade 8ec)ritie8. D(ient are a( o e(igi6(e to :6 'ri6e to In(i*@)--8 E<:ity Ana(y i , a ,ee 6a ed re ear'h o,,ering. 0ther ,eat:re o, In(i*@)--8 Gro:- Signat:re A''o:nt in'(:de -riority hand(ing o, their er=i'e 'a(( at the Dentra(iBed D: to;er Ser=i'e Dentre and thro:gh dedi'ated re(ation hi- ;anager . In(i*@)--8 Gro:- Signat:re a''o:nt ,eat:re in'(:de on(ine integrated net tran ,er =ia integrated -ay;ent gate2ay 2ith 6an7 :'h a 5D?D Ban7. Po2er In(i*@)--8 to -e'ia( ,eat:re

?or a'ti=e trader , +hey o,,er Po2er In(i*@)--8 a''o:nt that in'(:de a''e and er=i'e

:'h a ad=an'ed trading too( dedi'ated tea; o, re(ation hi- ;anager .

1ndia6:(( o,,er a ,:(( range o, ,inan'ia( er=i'e and -rod:'t ranging ,ro; E<:itie to 1n :ran'e to enhan'e yo:r 2ea(th and hen'e a'hie=e yo:r ,inan'ia( goa( . In(i*@)--8 Profe88ion*- Net=or<TM o,,er rea(-ti;e -ri'e , detai(ed data and ne2 , inte((igent ana(yti' , and e(e'troni' trading 'a-a6i(itie , right at yo:r ,inger-ti- . +hi -o2er,:( te'hno(ogy i 'o;-(e;ented 6y o:r 7no2(edgea6(e and ': to;er ,o': ed Re(ation hi- Manager . 1ndia6:(( N Re(ation hi- Manager are a=ai(a6(e to yo: to he(- 2ith yo:r ,inan'ia( -(anning and in=e t;ent need . +o -ro=ide the highe t -o i6(e <:a(ity o, er=i'e, 1ndia6:(( -ro=ide ,:(( a''e to a(( -rod:'t and er=i'e thro:gh ;:(ti-'hanne( .

EF)itie8 *n( DeriC*tiCe8
0:r Retai( E<:ity B: ine 'ater to the need o, indi=id:a( 1ndian and Non-Re ident 1ndian

"NR1& in=e tor . 1ndia6:(( o,,er 6ro7er a i ted trade e>e':tion, a:to;ated on(ine in=e ting and a''e to a(( 1P0N .

+hro:gh =ario: ty-e o, 6ro7erage a''o:nt , 1ndia6:(( o,,er the -:r'ha e and a(e o, e':ritie 2hi'h in'(:de E<:ity, Deri=ati=e and Do;;oditie 1n tr:;ent (i ted on Nationa( Sto'7 E>'hange o, 1ndia Ltd "NSE1L&, +he Sto'7 E>'hange, M:;6ai "BSE& and NDDEJ.

T,E FA5ILITIES PROVIDED BY INDIABULLS

Indiabulls *ignature Account
A ;:(tit:de o, 2ay to a''e yo:r a''o:nt either thro:gh -riority a''e to yo:r A''o:nt @ Re ear'h +oo( . to Re(ation hi-

Manager o=er -hone or on(ine a''e

Indiabulls *ignature Account 'eatures Priority Ser=i'e J En.oy -riority te(e-hone a''e Re(ation hi- Manager. Pre;i:; Re ear'h J Bene,it ,ro; ,:(( a''e ,a't-6a ed a--roa'h to rating to'7 . 0n(ine A''o:nting J Stay on the to- o, yo:r in=e t;ent 2ith a na- hot o, yo:r A''o:nt State;ent . Get a''e to Port,o(io tate;ent and a''e to digita( 'ontra't note . to 1ndia6:(( E<:ity Ana(y i
+M

that gi=e yo: dire't a''e

to yo:r

, o:r o6.e'ti=e,

"enefits
Dontro( — Stay on top of your investments with convenient access to your account online or by phone. Don,iden'e S S:--ort yo:r in=e ting de'i ion 2ith -re;i:; in-de-th re ear'h - 1ndia6:(( E<:ity Ana(y i .+M 3a(:e S En.oy 'o;-etiti=e 'o;;i ion and get the er=i'e and :--ort yo: need at a ,air -ri'e.

Power Indiabulls
1ndia6:(( i dedi'ated to e;-o2er A'ti=e +rader thro:gh -er ona( er=i'e and ad=an'ed trading te'hno(ogy.

ActiCe Tr*(er 3 Get More At In(i*@)--8
Regard(e o, ho2 the ;ar7et i -er,or;ing or 2hi'h 2ay the e'ono;i' 2ind are 6(o2ing, yo:,

a a trader, are re ear'hing, 'harting, 'ra,ting a trategy, 6:ying and e((ing. Co: are getting in, getting o:t and ;o=ing on to the ne>t trade. Dhoo e ,ro; a 'o;-rehen i=e o,,ering o, a''o:nt , -(at,or; and -rod:'t . D: to;iBe o:r te'hno(ogy and er=i'e to :--ort the 2ay yo: 2or7.

Fe*t)re8 of Po=er In(i*@)--8TM
Li=e Strea;ing O:ote ?a t 0rder Entry +i' 6y +i' Li=e Dhart +e'hni'a( Ana(y i Li=e Ne2 and A(ert E>ten i=e Re-ort ,or Rea(-ti;e A''o:nting

"enefits
5o/2rehen8iCe Fin*nci*- SerCice8 S A an A'ti=e trader, yo:N(( ha=e the too( , re o:r'e and :--ort yo: need to e>e':te yo:r trading trategy, -(: yo:r 'hoi'e o, a 2ide range o, in=e t;ent -rod:'t and er=i'e . De(ic*te( S)22ort *n( SerCice8 S En.oy -riority a''e dedi'ated to :--orting yo:r trading and in=e ting need . Non3Re8i(ent In(i*n 0NRI1 InCe8tor SerCice8 8ith an e>ten i=e range o, in=e t;ent -rod:'t , yo: 2i(( di 'o=er an :n2a=ering 'o;;it;ent to he(-ing yo: in=e t in 1ndia. to Re(ation hi- Manager 2ho are

'acilities
In(i*@)--8 NRI Tr*(in inde-endent NR1 in=e tor In(i*@)--8 De2o8itor. SerCice8 3 1ntegrated er=i'e ,or ea;(e de(i=ery Acco)nt 3 Pro=ide a''e to 'o;-rehen i=e trading too( ,or

,DF5 B*n< Acco)nt 3 NREGNR0 A''o:nt 2ith 6:i(t in ta> ;anage;ent o(:tion and ,a'i(ity to o:r'e a(( reg:(atory a--ro=a( . In(i*@)--8 EF)it. An*-.8i8TM 3 Pre;i:; Re ear'h on %## 'o;-anie :-dated dai(y. Benefits

Indian Investments "rings .ou &ore (hoices
1n=e ting in 1ndia, one o, the 2or(dN ,a te t e;erging ,inan'ia( ;ar7et , ;ean a 2ider 'hoi'e o, in=e t;ent o--ort:nitie and ind: trie . At 1ndia6:(( , yo: 'an ta7e ,:(( ad=antage o, the e;erging 1ndian ;ar7et.

*ee what Indiabulls offer
1ndia6:(( -ro=ide yo: 2ith a Sea;(e (y integrated trading, de-o itory and 6an7 a''o:nt ena6(ing yo: to trade ,ro; any2here in the 2or(d. 1n=e ting in 1ndia, one o, the 2or(dN ,a te t e;erging ,inan'ia( ;ar7et , ;ean a 2ider 'hoi'e o, in=e t;ent o--ort:nitie and ind: trie . At 1ndia6:(( , yo: 'an ta7e ,:(( ad=antage o, the e;erging 1ndian ;ar7et. 1ndia6:(( -ro=ide yo: 2ith a Sea;(e (y integrated trading, de-o itory and 6an7 a''o:nt ena6(ing yo: to trade ,ro; any2here in the 2or(d. De-o itory Ser=i'e 1ndia6:(( i a de-o itory -arti'i-ant 2ith the Nationa( Se':ritie De-o itory Li;ited and Dentra( De-o itory Ser=i'e "1ndia& Li;ited ,or trading and ett(e;ent o, de;ateria(iBed hare .

1ndia6:(( -er,or; '(earing er=i'e ,or a(( e':ritie tran a'tion thro:gh it a''o:nt . +hey

o,,er de-o itory er=i'e to 'reate a ea;(e

tran a'tion -(at,or; Pe>e':te trade thro:gh

1ndia6:(( Se':ritie and ett(e the e tran a'tion thro:gh the 1ndia6:(( De-o itory Ser=i'e . 1ndia6:(( De-o itory Ser=i'e i -art o, =a(:e added er=i'e ,or their '(ient that 'reate ;:(ti-(e inter,a'e 2ith the '(ient and -ro=ide ,or a o(:tion that ta7e 'are o, a(( yo:r need . 1SL i a de-o itory -arti'i-ant 2ith the NSDL and DDSL ,or trading and ett(e;ent o, de;ateria(iBed hare . 1t -er,or; '(earing er=i'e ,or a(( 8ec)ritie8 tran a'tion thro:gh it a''o:nt . D(ient o, the 6ro7erage 6: ine are a6(e to : e the de-o itary er=i'e to e>e':te

their trade thro:gh 1SL and ett(e the e tran a'tion thro:gh o:r de-o itary er=i'e . 1ndia6:(( de-o itary er=i'e i -art o, the =a(:e-added o,,ering to 'reate ;:(ti-(e inter,a'e 2ith the '(ient.

INDIABULLS EKUITY ANALYSIS
+hey ee7 to -ro=ide their '(ient 2ith ': to;iBed re ear'h re-ort 'a((ed In(i*@)--8 E<:ity Ana(y i . 1t -ro=ide '(ient 2ith an o6.e'ti=e to'7 rating y te; on ;ore than %## to'7 , a igning ea'h e<:ity a ing(e grade! A, B, D, D, or E. 0n a=erage, A-rated to'7 are e>-e'ted to trong(y o:t-er,or; the o=era(( ;ar7et o=er the ne>t 9% ;onth , 2hi(e E-rated to'7 are e>-e'ted to trong(y :nder-er,or; the ;ar7et. In(i*@)--8 E<:ity Ana(y i (e=erage their trong te'hno(ogy trength to a y te;ati' rating ;ethodo(ogy.

O@7ectiCe )i(*nce to he-2 .o) @). or 8e-B:i(ding and ;aintaining yo:r idea( -ort,o(io de;and o6.e'ti=e, de-enda6(e in,or;ation. 1ndia6:(( E<:ity Ana(y i +M he(ati ,y that need 6y rating to'7 6a ed on 'are,:((y

e(e'ted, ,a't-6a ed ;ea :re . And 6e'a: e 2eNre not ,o': ed on in=e t;ent 6an7ing, 2e donNt ha=e the a;e 'on,(i't o, intere t a traditiona( 6ro7erage ,ir; . +hi o6.e'ti=ity i on(y one i;-ortant di,,eren'e in o:r rating . A 8c*-e of A, B, 5, D *n( E A to E rating are a--(ied to o=er &#4 1ndian head<:artered to'7 : ing a 2ide =ariety o, in=e t;ent 'riteria ,ro; ,o:r 6road 'ategorie . R*tin i8 Un(er8t*n(*@-e *n( Action*@-e 0=er the ne>t 9% ;onth , A-rated to'7 ha=e a ret:rn o:t(oo7 o, trong(y o:t-er,or;ing the ;ar7et 2hi(e E-rated to'7 ha=e a ret:rn o:t(oo7 o, trong(y :nder-er,or;ing the ;ar7et. ?ind o:t ;ore a6o:t : ing 1ndia6:(( E<:ity Ana(y i +M +he 1ndia6:(( E<:ity Ana(y i +M ;ode( atte;-t to ga:ge in=e tor e>-e'tation , in'e to'7 -ri'e tend to ;o=e in the a;e dire'tion a 'hange in in=e tor e>-e'tation .

•

Sto'7 2ith (o2 and -otentia((y i;-ro=ing in=e tor e>-e'tation tend to re'ei=e A or B rating .

•

Sto'7 2ith high and -otentia((y ,a((ing in=e tor e>-e'tation tend to re'ei=e D or E rating .

S2eci*- 5on8i(er*tion8 1ndia6:(( E<:ity Ana(y i +M a( o do not re,(e't the -o i6(e i;-a't o, (ate-6rea7ing ne2 in'e

the rating are :-dated dai(y. +h: , it i i;-ortant to 'ond:'t additiona( re ear'h -rior to ;a7ing a trading de'i ion 1ndia6:(( N y te;ati' a--roa'h i de-endent on the a'':ra'y o, ,inan'ia( data -ro=ided 6y third -artie . 1ndia6:(( E<:ity Ana(y i +M ;ay not 'a-t:re ;ore :6.e'ti=e, <:a(itati=e in,(:en'e on ret:rn and ri 7, :'h a ;anage;ent 'hange and -ending (a2 :it . P*r*/eter8 )8e( @. In(i*@)--8 to iCe r*(e8 to the in(iCi()*- 8toc< 1ndia6:(( E<:ity Ana(y i
TM

N ,o:r :nder(ying 'o;-onent

"?:nda;enta( , 3a(:ation,

Mo;ent:; and Ri 7& are -ro=ided to gi=e yo: ,:rther in ight into 2hy a to'7 ha a -arti':(ar 1ndia6:(( E<:ity Rating. +he 'o;-onent grade ho:(d not 6e : ed a(one in ;a7ing in=e t;ent

de'i ion . A(2ay 'on ider yo:r in=e t;ent goa( , -ort,o(io di=er i,i'ation and ta> it:ation and 'he'7 re'ent ne2 6e,ore ;a7ing an in=e t;ent de'i ion on an indi=id:a( to'7. F)n(*/ent*-8 +he ?:nda;enta( grade :nder(ying the 1ndia6:(( E<:ity Ana(y i +M i 6a ed :-on e=era( earning -<:a(ity ;ea :re deri=ed ,ro; re'ent ,inan'ia( tate;ent data. Sto'7 2ith trong ,:nda;enta( attri6:te :'h a a tra'7 re'ord o, high net -ro,it ;argin and ret:rn on e<:ity tend

to ha=e 6etter ?:nda;enta( grade . V*-)*tion +he 3a(:ation grade :nder(ying the 1ndia6:(( E<:ity Ana(y i +M i 6a ed :-on e=era( =a(:eoriented in=e t;ent 'riteria. Do;-anie that are 'o;;anding a higher =a(:ation in the ;ar7et ':rrent(y a 'o;-ared to other ha=ing i;i(ar earning and other -ara;eter rating than other . +he ai; o, thi 'o;-onent i to .:dge the attra'ti=ene ha(( get a (o2er

o, a -arti':(ar to'7.

+y-i'a((y to'7 2ith (o2er PE ratio and other =a(:ation re(ated -ara;eter 2o:(d get higher =a(:ation grade . Mo/ent)/ +he Mo;ent:; grade :nder(ying the 1ndia6:(( E<:ity Ana(y i +M ;ea :re the -otentia( o, the to'7 to 7ee- -er,or;ing at a tronger than ;ar7et (e=e( in the near ,:t:re. 1ndiaB:(( : e the o-inion 'o((e'ted ,ro; a -ane( o, ana(y t to get to a ;o;ent:; rating ,or a 'o;-any. Ri8<
The Risk grade underlying the Indiabulls Equity nalysisT! is based upon several diverse measures of investment risk. "arger stocks with good risk related attributes #such as low stock price volatility$ low debt%equity ratio$ high stock liquidity etc.& tend to have better risk grades.

MUTUAL FUNDS
+hey -ro=ide =ario: ;:t:a( ,:nd "e<:ity, de6t and 6a(an'ed ;:t:a( ,:nd & thro:gh o:r retai( di tri6:tion net2or7. +hey o,,er '(ient a 2ide =ariety o, ;:t:a( ,:nd ,ro; A et Manage;ent Do;-anie (i7e Pr:dentia( 1D1D1 M:t:a( ?:nd, 5D?D M:t:a( ?:nd et'.

1ndia6:(( Ea y Money
No F)e8tion8. On-. Lo*n8. No ;atter 2here yo: 2or7, or ho2 ;:'h yo: earn, 2e o,,er yo: the horte t ro:te to a (oan 2ith ;ini;:; -a-er2or7 and -ro'ed:re . 8ith EasymoneyTM, yo: 'an a=ai( o, ea y (oan ,or a ;ini;:; o, R .9#, ### to a ;a>i;:; a;o:nt o, R .9, ##,###. 8ith a6 o(:te(y No Pre-ay;ent Pena(ty. E*8./one. Te*/ fe*t)re8 ?(e>i6(e (oan tenor o, :- to 4 year "i.e. 9 ;onth to 4$ ;onth &. Loan a=ai(a6(e ,ro; a ;ini;:; o, R .9#,### :- to a ;a>i;:; o, R .9##,###. Ea y ;onth(y re-ay;ent thro:gh e<:ated ;onth(y in ta((;ent "EM1&. Medi'(ai; 1n :ran'e 6:nd(ed 2ith e=ery (oan yo: a=ai(.

Ea y do':;entation and <:i'7 di 6:r a(.

INDIABULLS3IN NEWS "##%
F*r*--on 2*.8 R8 $$cr for ''L 8t*<e in In(i*@)--8 *r/ T+he +i;e 0, 1ndia " Han 3, %##5 & Merri-- L.nch *cF)ire8 "L in In(i*@)--8 TE'ono;i' +i;e - 1ndia " H:ne %), %##5 & U A/*r*nth to 2ic< )2 &".%L 8t*<e in In(i*@)--8 TE'ono;i' +i;e - 1ndia " H:ne #$, %##5 & U US F)n( A/*r*nth LL5 AcF)ire8 &".% Percent St*<e In In(i*@)--8 IPO ... TB: ine -San ?ran'i 'o, DA, USA " H:ne #7, %##5 & U To((-er t*<e8 i*nt 8te28 TB: ine 1ndia " ?e6 %$-Mar 93, %##5 & U 8ire

In(i*@)--8 r*i8e8 M>#/ Ci* GDR i88)e T Si,y " ?e6 %5, %##5 & U In(i*@)--8 GDR 2rice( *t R8 4#? 2er 8h*re TMoney'ontro(.'o; "?e6 %5, %##5&U In(i*@)--8 2rice8 M&%/n GDR i88)e TB: ine Standard "?e6 %5, %##5 & U

In(i*@)--8 r*i8e8 M># /-n Ci* GDR i88)e 3 BSE TRe:ter 1ndia "?e6 %5, %##5&U In(i*@)--8 Fin*nci*- 2rice8 GDR i88)e *t US M&% /i--ion TMyiri .'o; "?e6 %5, %##5&U In(i*@)--8 GDR 2rice( *t R8 4#?N8h*re TE'ono;i' +i;e "?e6 %5, %##5&U In(i*@)--8O net ro=8 4?'L in K' TE'ono;i' +i;e "Han 93, %##5&U In(i*@)--8 for FII 8t*<e in 5re(it SerCice8 TMoney'ontro(.'o; "Han 93, %##5&U In(i*@)--8 thir(3F)*rter net 7)/28, inco/e ri8e8 too T5ind: tan +i;e "Han 93, %##5&U In(i*@)--8 K' net 8o*r8 4?%L to R8 4$.&cr 3 Ne= De-hi,In(i* %##5&U In(i*@)--8 K' 2rofit8 8o*r 4?'L to R8. 4$.& crore8 TSi,y "Han 93, %##5&U In(i*@)--8 2-*n8 to hi<e FII -i/it to 4##L, EGM 2o8t2one(! F*r*--on @).8 ''L in In(i*@)--8 *r/ TNe2 4era(a "Han 93, %##5&U TMoney'ontro(.'o; "Han 93,

T+he E'ono;i' +i;e "Han 3, %##5&U

F*r*--on @).8 ''L in In(i*@)--8 5re(it

TB: ine

Standard "Han 3, %##5&U

CHAPTER-4
• THEORETICAL FRAMEWORK

SWOT ANALYSIS OF INDIABULLS
W,AT IS SWOT ANALYSISP S ,or 8tren th8, W ,or =e*<ne88, O ,or o22ort)nitie8 and T ,or thre*t8.

Stren th8 of In(i*@)--8 H Wh*t /*<e8 In(i*@)--8 @etter th*n itE8 co/2etitor8P
 0n(ine trading -(at,or;.  Di=er e Bran'h Net2or7 -ro=ide a;-(e o--ort:nitie to -enetrate dee- into the e>i ting @ :nta--ed ;ar7et.  1ndia6:(( o,,er it '(ient a -oo( o, ,inan'ia( er=i'e and -rod:'t !  No ann:a( ;aintenan'e 'harge .  No ': todia( 'harge.  1t doe not 7ee- any 'ondition a to 'o((e't ;ini;:; a;o:nt o, 6ro7erage ,ro; it '(ient  Mo t 'o;-etiti=e BR04ERAGE and DP 'harge "on de(i=ery #.5M and on intraday #.9M&  E<:ity ana(y i re-ort to :--ort the in=e t;ent de'i ion o, it '(ient  +rading =ia 6ran'h net2or7, te(e-hone and internet a''o:nt i.e. 6oth on(ine and o,,(ine  1nd:'tion o, ne2 e;-(oyee thro:gh an e>ten i=e 'o;-:ter 6a ed training ;od:(e.  Rea( ti;e on(ine tran ,er ,:nd and e>-o :re :-dating ,a'i(ity 2ith 5D?D, D1+1BAN4, 1D1D1.

We*<ne88 of In(i*@)--8!
 1t ho:(d ha=e it o2n ;:t:a( ,:nd a 1ndia6:(( i -ro=iding ad=i e in ;:t:a( ,:nd.  1t ho:(d -ro=ide ti- =ia SMS.  +here ho:(d 6e a e-arate et o, ta,, 2or7ing in ,ie(d and trading on 6eha(, o, their '(ient !

 Po ition to an 2er the <:e tion o, their '(ient re(ating to the ':rrent ;ar7et -o ition a they are on ,ie(d .  Do;;oditie are not traded on(ine.  1t doe not -ro=ide 2ith the indi'e o, ;a.or 2or(d ;ar7et , ADR -ri'e o, 1ndian 'ri-t .  Un(i7e o;e o, it 'o;-etitor (i7e 1D1D1 and 4ota7, 1ndia6:(( doe not -ro=ide a 'o;-(ete 'ata(og:e o, ,inan'ia( er=i'e "e.g. Ban7ing ,a'i(ity&.  D:e to the 'ontin:o: need to ;eet the target , o;e o, the Re(ation hi- ;anager 'ra'7 :nder -re :re and th: (ea=e the organiBation.

OPPURTUNITIES TO INDIABULLS!
 ?inan'ia( er=i'e (i7e 6an7ing  Mar7et e>-an ion i.e. o-ening 6ran'he at :nta--ed area  1ndia6:(( i regi tered 2ith L:>e;6o:rg to'7 e>'hange and o 'an target other to'7 e>'hange .  A+M ,a'i(ity ho:(d 6e -ro=ided ,or ea y 2ithdra2a( .  +he Da-ita( ;ar7et in the (a t ,e2 year ha t:rned o:t to 6e one o, the ,a=ora6(e a=en:e ,or the retai( in=e tor  S'o-e o, on(ine trading on BSE.  1ndia6:(( ha tied :- 2ith other third -arty 'o;-anie to e(( their -rod:'t . D:e to the high '(ient 6a e o, 1ndia6:(( , there e>i t an o--ort:nity to 'ro e(( the e -rod:'t in the ;ar7et.

T,REATS TO INDIABULLS!
 Do;-anie (i7e Share 7han, 1D1D1 Dire't, 4ota7, and Pri=ate Bro7er are ;a.or threat to 1ndia6:(( .  Ban7 2ith de;at ,a'i(ity .o'7eying ,or -o ition.  Lo'a( 6ro7er 'a-a6(e o, 'harging (o2er 6ro7erage.  1nd: try 'o;-etitor =ying ,or the a;e target eg;ent.  Dhange in SEB1 g:ide(ine @ other ta> i;-(i'ation .

 Go=ern;ent Reg:(ation .

TRADING PRO5EDURE

FUTURE PLANES OF INDIABULLS
1ndia6:(( i no2 (oo7ing at tandardiBing on Lin:> and i a( o 'on idering ;igrating to Red 5at Enter-ri e Lin:> =.3 to ,:rther in'rea e -er,or;an'e. 8ith gro2ing -o-:(arity o, Lin:> on the de 7to-, 1ndia6:(( i 'on idering to -ort it '(ient a--(i'ation to Lin:>. 1n doing o, it ho-e to ;eet the need o, in=e tor 2ho -re,er to : e Lin:> de 7to- ,ro; their ho;e or o,,i'e in 'onne'ting to their er=i'e net2or7.

,ISTORY OF ONLINE TRADING
+he ,ir t organiBed to'7 e>'hange originated in Phi(ade(-hia in 97)#, and at the ti;e 2a the on(y a=en:e to trade, -(a'ing order dire't(y 2ith a to'7 6ro7er or trader. E=ent:a((y 2ith the in'e-tion o, the Ne2 Cor7 Sto'7 E>'hange in the 9$%# , trading and e=en o2ning a eat on the e>'hange 6e'a;e ea ier to 6e a -art o, it a((. 0+D, or o=er-the-'o:nter, -er ona( to'7 6ro7er ha=e 6een, and are ti(( -re ent ,or tho e 2ho 2ant to trade thro:gh the; : ing their -ro,e iona( ad=i'e. Di 'o:nt 6ro7er are : ed reg:(ar(y a 2e((, 2ho 'harge a (e er ,ee than a ,:(( er=i'e 6ro7er, 6:t o,,er no ad=i'e. +oday trading on(ine ha 6e'o;e a 'o;;on -ra'ti'e, 2itho:t dire't(y : ing a 6ro7er.

FUN5TION
Being a ;e;6er o, an on(ine trading ite a((o2 (og in and trading : ing any 'o;-:ter that i 'onne'ted to the 1nternet. +he ite are o-erated and ;anaged 6y a 6ro7erage ,ir;, 2ho i re -on i6(e to 6e 'ertain that a(( trading reg:(ation are ,o((o2ed. +he ite -ro=ide trea;ing rea( ti;e in,or;ation a(ong 2ith (i ting o, to'7 , 6ond , o-tion , 'o;;oditie and other in=e t;ent in tr:;ent . +he ite a( o o,,er a (edger or -er ona( re'ord o, the tat: o, the in=e tor a''o:nt and ho(ding . Re ear'h too( are a( o ;ade a=ai(a6(e.

Potenti*8ith on(ine trading 6eing ;ade o readi(y a=ai(a6(e it o,,er the o--ort:nity to e=en 6e'o;e a day trader. A day trader 6:y and e(( n:;ero: ti;e -er day. B:ying 9### hare o, to'7 ,or in tan'e at V%#.## -er hare 2ith the anti'i-ation that the to'7 2i(( in'rea e in =a(:e <:i'7(y, and then the trader 2i(( e(( the; a oon a they go :- in =a(:e, e=en i, (ight(y to V%#.35 ,or in tan'e, ;a7ing a <:i'7 -ro,it. At the end o, the day, the day trader ho-e that their a'':;:(ated trade 'reated a ni'e -ro,it. A( o, 2ith on(ine trading, ;any -eo-(e 2ho ;ay other2i e ne=er enter the ;ar7et are a6(e to do o and in=e t in 6: ine e , 2hi'h he(- to enhan'e the e'ono;y in genera(.

On-ine Tr*(in in NSE *n( BSE, B).in NSe--in Sh*re8 *n( Bro<er8
1n=e ting in hare ;ar7et 'an 6ring =ery good ret:rn 'o;-ared to other 7ind o, in=e t;ent (i7e 6an7 ,i>ed de-o it , 6ond , PP?, NSD et'. Se(e'ting the right to'7 in the right e'tor at the right ti;e i i;-ortant ,or :''e in e<:itie . Pri'e o, the to'7 in'rea e a''ording to the gro2th o, the 'o;-any -(: 'o;-anie 2i(( gi=e 6on: and di=idend at -eriodi' inter=a( .

In(i*n Stoc< M*r<et8 H NSE *n( BSE
+he Bo;6ay Sto'7 E>'hange"BSE& and Nationa( Sto'7 E>'hange "NSE& are the ;ain to'7 e>'hange in 1ndia. A-art ,ro; the e t2o there are ;any regiona( to'7 e>'hange . Both NSE and BSE are a(;o t e<:a( in dai(y traded =o(:;e. +he -ri;ary inde> o, BSE 'a((ed BSE SENSEJ 'o;-ri ing 3# to'7 . +hi in'(:de 6ig 1ndian 'o;-anie (i7e Re(ian'e 1nd: trie , +ata Motor , 0NGD, N+PD, +DS, 1n,o y , Ba.a. A:to, Bharti Airte(, ADD, SB1, 8i-ro, B5EL, 1D1D1, 5D?D et' a -er A-r %##7. Si;i(ar(y NSE ha S@P NSE 5# 1nde> "Ni,ty& 'o;-ri ing ;a.or 5# to'7 .

ONLINE TRADING
Both NSE and BSE ha=e 2it'hed o=er to 'o;-:teriBed 0n(ine +rading y te; ,ro; o-en o:t'ry trading y te;. BSE ha B0L+ "BSE 0n(ine +rading& and NSE ha NEA+ "Nationa( E>'hange A:to;ated +rading&. 8ith the e high(y e,,i'ient on(ine trading y te; e,,i'ien'y and tran -aren'y o, BSE and NSE are in'rea ed dra;ati'a((y.

On-ine Tr*(in Acco)nt *n( De/*t Acco)nt
A,ter the introd:'tion o, the on(ine trading y te; it i =ery ea y to do on(ine trading 2ith .: t a PD and an internet 'onne'tion. A(( yo: need to do i .: t o-en a De;at a''o:nt and a trading a''o:nt 2ith a de-o itory -arti'i-ant or DP. DP i De-o itory i the -eo-(e 2ho tore de-o itorie , NSDL and DDSL. 'onne'ting De-o itory to in=e tor . ,or;. 1n 1ndia there are t2o hare in e(e'troni'

Mo t o, the 6an7 and 6ro7erage ho: e -ro=ide trading a''o:nt and de;at a''o:nt. +o o-en a de;at a''o:nt yo: need ;any thing (i7e PAN 'ard, addre -roo,, 6an7 a''o:nt et'. +o 7no2 ;ore a6o:t De;at a''o:nt =i it o:r de;at a''o:nt -age 0-ening a De;at A''o:nt

BUYINGNSELLING A S,ARE
0n'e the a''o:nt i a'ti=e yo: 'an 6:y hare ,ro; BSE or NSE. ?or e=ery 6:y or e(( tran a'tion yo: 2i(( ha=e to -ay a 6ro7erage to the 6ro7er nor;a((y range 6et2een #.4M to #.$M. S:--o e yo: 6:y 9## hare 2ith -ri'e 9##. So tota( a;o:nt i R 9####. ?or a .5M 6ro7erage ,ir; yo: 2i(( ha=e to -ay #.5M o, 9#,### ie R 5#. Sa;e a;o:nt yo: ha=e to -ay 2hen yo: e(( it. So tota((y R 9## 2i(( 6e red:'ed ,ro; yo:r tota( -ro,it. A-art ,ro; thi 6ro7erage yo: 2i(( ha=e to -ay ;any other 'harge (i7e Ser=i'e ta> on the 6ro7erage ie 9%.%5M ,or a6o:t tran a'tion it i 9%.%5M o, R 5# ie *.9%5 ,or 6:y and another *.9%5 ,or e((. +hen there are other 'harge (i7e Se':ritie +:rno=er +a> ".9%5M&, Sta;- d:ty, Ed:'ation 'e , ;ini;:; 6:yG e(( 'o;;i ion et'. +he e a;o:nt =arie ,ro; 6ro7er to 6ro7er.

ONLINE BRO+ERS
+here are ;any on(ine 6ro7erage ,ir; in 1ndia (i7e Share7han, Geo.ith Se':ritie , 1D1D1 Dire't, 5D?D Se':ritie , 1ndia B:(( , 1n=e t ;art 0n(ine, 4ota7 Street, Moti(a( 0 2a(, 5 Pai a et'.

FA5ILITIES OF T,E ONLINE TRADING INDIA!
+he in=e tor ha to regi ter 2ith an on(ine trading -orta( and get into an agree;ent 2ith the ,ir; to trade in di,,erent e':ritie ,o((o2ing the ter; and 'ondition (i ted do2n on the agree;ent. +he order -ro'e ing i done in 'orre't ti;ing a the er=er o, the on(ine trading -orta( are 'onne'ted to the to'7 e>'hange and de ignated 6an7 a(( ro:nd the '(o'7. +hey 'an a( o get :-date on the trading and 'he'7 the ':rrent tat: o, their order either thro:gh e-;ai( or thro:gh the inter,a'e. Bro7erage a( o -ro=ide re ear'h 'ontent on their 2e6 ite , :'h that the '(ient 'an ta7e their o2n de'i ion on to'7 6e,ore in=e ting.

PRODU5TS AND SERVI5ES OF T,E ONLINE TRADING INDIA!
+he ;a.or ,inan'ia( -rod:'t and er=i'e o, the on(ine trading 1ndia are (i7e  EOU1+1ES,  MU+UAL ?UNDS,  L1?E 1NSURANDE,  GENERAL 1NSURANDE,  L0ANS,  S5ARE +RAD1NG,  D0MM0D1+1ES +RAD1NG,  P0R+?0L10 MANAGEMEN+ AND ?1NAND1AL PLANN1NG.

NATIONAL STO5+ E;5,ANGE OF INDIA 0NSE1
Nationa( Sto'7 E>'hange o, 1ndia "NSE& i 1ndiaN (arge t Sto'7 E>'hange @ 8or(dN third (arge t Sto'7 E>'hange in ter; o, tran a'tion . Lo'ated in M:;6ai, NSE 2a -ro;oted 6y (eading ?inan'ia( 1n tit:tion at the 6ehe t o, the Go=ern;ent o, 1ndia, and 2a in'or-orated in No=e;6er 9))% a a ta>--aying 'o;-any. 1n A-ri( 9))3, NSE 2a re'ogniBed a a Sto'7 e>'hange :nder the Se':ritie Dontra't "Reg:(ation& A't-9)5*. NSE 'o;;en'ed o-eration in the 8ho(e a(e De6t Mar7et "8DM& eg;ent in H:ne 9))4. Da-ita( Mar7et "E<:itie & eg;ent o, the NSE 'o;;en'ed o-eration in No=e;6er 9))4, 2hi(e o-eration in the Deri=ati=e in ter; o, ;i'ro tr:'t:re, ;ar7et -ra'ti'e and trading =o(:;e . NSE ha ;andate to 'reate 8or(d-'(a eg;ent 'o;;en'ed in H:ne %###. NSE ha -(ayed a 'ata(yti' ro(e in re,or;ing 1ndian e':ritie ;ar7et et :- it trading y te; a a nation-2ide, ,:((y a:to;ated 'reen 6a ed trading y te;. 1t ha 2ritten ,or it e(, the Sto'7 E>'hange and : e it a an in tr:;ent o, 'hange ,or the et :- on a de;:t:a(i ed ;ode( ind: try a a 2ho(e thro:gh 'o;-etiti=e -re :re. NSE i

2herein the o2ner hi-, ;anage;ent and trading right are in the hand o, three di,,erent et o, -eo-(e. +hi ha 'o;-(ete(y e(i;inated any 'on,(i't o, intere t.

NSE WAS SET UP WIT, T,E OB9E5TIVES OF!
 

E ta6(i hing nation2ide trading ,a'i(ity ,or a(( ty-e o, e':ritie En :ring e<:a( a''e to in=e tor a(( o=er the 'o:ntry thro:gh an a--ro-riate te(e'o;;:ni'ation net2or7

  

Pro=iding ,air, e,,i'ient @ tran -arent e':ritie ;ar7et : ing e(e'troni' trading y te; Ena6(ing horter ett(e;ent 'y'(e and 6oo7 entry ett(e;ent Meeting 1nternationa( 6en'h;ar7 and tandard

BENEFITS OF ON3LINE TRADING
 Le 'o t(y

 Pea'e o, ;ind  4ee-ing re'ord  A''e to in,or;ation and in=e t;ent too(

 Un-ara((e(ed Li<:idity  Un-ara((e(ed Sa,ety  Red:'e the ett(e;ent ri 7  0,,er greater tran -aren'y  Ea e o, +rade  Pro6(e; 0, 0n-Line +rading  Ser=er not ,o:nd  Donne'ti=ity o, the 6ro7er 2ith NSE and BSE  Dy6er Atta'7  Non-A=ai(a6i(ity o, a ea;(e inter,a'e

 Non- a=ai(a6i(ity o, -er ona(iBed  Margin  Litt(e : e o, ad=i ory er=i'e  1n'rea ed 'harge

PROBLEMS OF ON3LINE TRADING
 Ser=er not ,o:nd  Donne'ti=ity o, the 6ro7er 2ith NSE and BSE  Dy6er Atta'7  Non-A=ai(a6i(ity o, a ea;(e inter,a'e

 Non- a=ai(a6i(ity o, -er ona(iBed  Margin  Litt(e : e o, ad=i ory er=i'e  1n'rea ed 'harge

MAR+ET TIMINGS !
 Nor;a( Mar7et G e>er'i e ;ar7et o-en ti;e  Nor;a( Mar7et '(o e  Set :- ':t o, ti;e ,or -o ition (i;itG'o((atera( =a(:e +i((  +rade Modi,i'ation end ti;eG E>er'i e ;ar7et #)!55 ho:r 95!3# ho:r 95!3# ho:r 9*!95 ho:r

T,E TOP '# 5OMPANIES LISTED IN BSE AND T,EIR RIS+ AND RETURNS
Scrip code
'(()*( '((*(/ '/1)') '/1.2. '((/(( '((*.( '((*.1 '(())( '((202 '(((*( '/1*-) '((1(0 '((.-' '/1'/1 '(('*( '(('1( '/1'(( '/1''' '((/*1 '/1-*1 '((/1' '((/0( '((**1 '((0(( '1)-*' '/1')( '(('-( '(()(( '(()-( '(-2.' ++ "T,. 34 R T 4E 56 E"E+TRI+ "S "T,. 34 RTI IRTE" "T,. ,"7 "td. 8R SI! I9,:STRIES "T, 4,7+ 3 9; "T, 4ER< 4<9, !<T<RS "T, 4I9, "+< I9,:STRIES "T, 4I9,:ST 9 :9I"E5ER "T,. 4<:SI98 ,E5E"<=!E9T 7I9. +<R=9. "T, I+I+I 3 9; "T,. I97<S6S TE+49<"<8IES "T,. IT+ "T,. > I=R ; S4 SS<+I TES "I!ITE, " RSE9 ? T<:3R< "T,. ! 4I9,R ? ! 4I9,R "T, ! R:TI S:@:;I I9,I "I!ITE, 9T=+ "T,. <98+ +<R=9 RE"I 9+E +<!!:9I+ TI<9S "T,. RE"I 9+E I9,:STRIES "T,. RE"I 9+E I97R STR:+T:RE "T, ST TE 3 9; <7 I9,I STER"ITE I9,:STRIES. S:9 =4 R! +E:TI+ " I9,S "T,. T T +<9S:"T 9+6 SER5I+ES "I!ITE, T T !<T<RS "T,. T T =<AER +<. "T,. T T STEE" "I!ITE,. AI=R< "T,.

Company

Beta Values
(.-. (.0' (.-) *.2* (.2) (..1 (.)*.1( (.// *.*1 *.') (.22 (.'' *..( *.11 (.0. (.2/ (.'' (.-0 *.)' *.1( *.'. *.*) *.// (./1 (..1 *.*. (..) *.)1 (../

Avg. "eig#tage Co-efficient of Returns Daily ( ) in Determination (! year) Volatility S$%S$& as (R2) ( ) ( ) on '()!!)(*
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

+ree-float Ad,.+actor as on '()!!)(*
(.'' (./' (./' (.1' (.-' (..' (.'( (.2' (.'( (.0( *.(( (..' (.-( (.'' (.0( (.-' (.'( (.*' (.1( (./' (.'( (.2' (.)' (.)' (.)( (./( (.2( (.-( (.-( (.1(

S$%S$&

!.((

2.2-

-..!/

Bet* Q 5o3C*ri*nce0SENSE;, Stoc<1N V*ri*nce0SENSE;1 R" Q 05orre-*tion1" ACer* e D*i-. Vo-*ti-it. Q One 8t*n(*r( (eCi*tion of (*i-. ret)rn8 of in(iCi()*- 8toc< 2rice for -*8t one .e*r Ret)rn8 Q L C*ri*tion in the 8toc< 2rice oCer -*8t one .e*r

5ATEGORIGATION OF S5RIPES OF BSE INTO VARIOUS SE5TORS
The *@oCe iCen infor/*tion con8i8t8 of *-- the to2 '# co/2*nie8 -i8te( in BSE, =hich *re c*te oriAe( into C*rio)8 8ector8, *re *8 fo--o=8! ,OUSING RELATED!  ADD "a o'iated De;ent Do;-any&.  DL? (i;ited.  Re(ian'e in,ra tr:'t:re (i;ited TRANSPORT EKUIPMENT!  5ero 5onda.  Mar:thi S:B:7i 1ndia Li;ited.  +ata Motor Li;ited. 5APITAL GOODS!  Bharath 5ea=y E(e'tri'a( Li;ited 0B,EL1.  Lar en And +:r6o Li;ited 0LIT1. TELE 5OMMUNI5ATIONS!  Re(ian'e 'o;;:ni'ation (i;ited.  Bharathi Airte( Li;ited. ,EALT, 5ARE!

 S:n Phar;a'e:ti'a( 1nd Li;ited.

DIVERSIFIED SE5TOR!  Gra i; 1nd: trie Li;ited.  Hai Pra7a h A o'iate Li;ited.  Mahindra @ Mahindra Li;ited. FINAN5E SE5TOR!  5o: ing De=e(o-;ent ?inan'e Do-0- Li;ited.  5D?D Ban7 Li;ited.  1D1D1 Ban7 Li;ited.  State Ban7 o, 1ndia. METAL AND METAL PRODU5TS!  5inda('o 1nd: trie Li;ited.  +ata Stee( Li;ited.  Stere(ite 1nd: trie . FAST MOVING 5ONSUMER GOODS!  5ind: tan Uni(e=er Li;ited.  1+D Li;ited. INFORMATION TE5,NOLOGY SE5TOR!  1n,o y +e'hno(ogie Li;ited.  8i-ro +e'hno(ogie .  +ata Don :(tan'y Ser=i'e Li;ited. POWER SE5TOR!  Nationa( +her;a( Po2er Dor-oration 1ndia Li;ited "N+PD&.  +ata Po2er Dor-oration Li;ited.  0i( and nat:ra( ga 'or-oration "0NGD&.  Re(ian'e 1nd: trie Li;ited "R1L&.

CHAPTER!a"a analy#i# $ in"erpre"a"ion

(A#(U#A$I+ +' -I*7 A ! -)$U- A A#.*I* +' VA-I+U* *(-IP;* A-) A* '+##+2*/ ,OUSING RELATED!
 ADD "A o'iated De;ent Do;-any&.  DL? (i;ited.  Re(ian'e in,ra tr:'t:re (i;ited Do;-any ADD Ltd DL? Ltd REL 1N?RA Ri 7 "& #.7$ 9.*9 9.5$ Pro6a6i(ity #.#3 #.#3 #.#3 Ret:rn )*.#) 77.35 9#$.*# E>-e'ted ret:rn %.$$ %.3% 3.%5

INTERPRETATION!
+he in=e tor 'an in=e t their in=e t;ent in Re(ian'e in,ra tr:'t:re (i;ited a the ret:rn i higher ,or a (e er ri 7, 2hen 'o;-ared 2ith DL? L+D and ADD (td. +he ne>t -re,eren'e 'an 6e gi=en to DL? (td a the ri 7 ,a'ed i 9.*9 ,or a ret:rn o, 77.33. the ana(y i ha 6een done a''ording to Mar7o2itB ;ode( o, 'a(':(ating anti'i-ated ret:rn.

TRANSPORT EKUIPMENT!

Do;-any 5ero 5onda Mar:thi S:B:7i (td +ata ;otor

Ri 7 "& #.47 #.*3 9.9$

Pro6a6i(ity #.#3 #.#3 #.#3

Ret:rn 994.)# 9)9.44 3$4.79

E>-e'ted ret:rn 3.44 5.74 99.54

INTERPRETATION!
?ro; the a6o=e 'ri-E the in=e tor 'an in=e t in +ata Motor , the ne>t -re,eren'e 'an 6e gi=en to Mar:thi S:B:7i, and (ater on to 5ero 5onda e=en tho:gh the (e=e( o, ri 7 i higher 'o;-arati=e(y 6:t rate o, ret:rn 'an 6e attained to a''e-ted ret:rn.

5APITAL GOODS!
Do;-any Ri 7 Pro6a6i(ity Ret:rn E>-e'ted ret:rn

B5EL L@+

"& #.)5 9.%%

#.#% #.#%

*4.$$ 9%%.# 4

9.%) %.44

INTERPRETATION!
?ro; the a6o=e 'ri-E the in=e tor 'an in=e t in L@+, a the (e=e( o, ret:rn i higher than B5EL 6e'a: e the (e=e( o, ret:rn i ;ore ,or the ri 7 a''e-ted 6y the in=e tor . 5en'e in 'a-ita( good the in=e tor 'an gi=e their in=e t;ent -re,eren'e initia((y to L@+ and then to B5EL

TELE 5OMMUNI5ATIONS!
Do;-any Ri 7 Pro6a6i(ity Ret:rn E>-e'ted ret:rn #.#% #.#% -9#.*$ -9%.#5 -#.%9 -#.%4

"& Bharthi Airte( #.74 Re(ian'e 'o;;. Ltd 9.45

INTERPRETATION!

?ro; the a6o=e 'ri-E the in=e tor 'an in=e t in Bharthi Airte( and then in Re(ian'e 'o;;:ni'ation e=en tho:gh the ret:rn are negati=e, it i 6etter to in=e t in Airte( a the ri 7 attained 6y the;.

DIVERSIFIED SE5TOR!
Do;-any Gra i; Hai Pra7a h M@M Ri 7 "& #.*4 9.$# #.)$ Pro6a6i(ity #.#3 #.#3 #.#3 Ret:rn 9*7.75 3#%.5) %*5.#$ E>-e'ted ret:rn 5.#3 ).#7 7.)5

INTERPRETATION!
+he in=e tor 'an in=e t their ':rren'y in Hai Pra7a h A o'iate , a ret:rn attained 6y the; i higher and the ne>t -re,eren'e i gi=en to Mahindra @ Mahindra and the ne>t -re,eren'e i gi=en to Gra i; e=en tho:gh the ri 7 i higher the ret:rn ,or that ri 7 i gen:ine.

FINAN5E SE5TOR!

Do;-any 5D?D 5D?D 6an7 1D1D1 SB1

Ri 7 "& 9.9% #.$% 9.54 9.94

Pro6a6i(ity #.#4 #.#4 #.#4 #.#4

Ret:rn $$.54 )%.5$ 945.)* 9#5.)3

E>-e'ted ret:rn 3.54 3.7# 5.$3 4.%3

INTERPRETATION!
1n ,inan'ia( e'tor the in=e t;ent 'an 6e done 6y the in=e tor in 1D1D1 BAN4, and the ne>t -re,eren'e 'an 6e gi=en to SB1 BAN4, and (ater on to 5D?D BAN4, and (ater to 5D?D L+D. +he (e=e( o, ri 7 =arie =ery (ight(y 6:t e=en then the rate o, ret:rn i =arie enor;o: (y.

METAL AND METAL PRODU5TS
Do;-any 5inda('o +ata tee( Stere(ite ind Ri 7 "& 9.%# 9.4% 9.33 Pro6a6i(ity #.#3 #.#3 #.#3 Ret:rn 9*#.%3 %$9.9) %*9.)5 E>-e'ted ret:rn 4.$# $.43 7.$5

INTERPRETATION!
+he in=e tor 'an in=e t their ':rren'y in +A+A Stee( and the ne>t -re,eren'e i gi=en to Stere(ite 1nd: trie and the ne>t -re,eren'e i gi=en to 5inda('o Ltd. +he (e=e( o, ri 7 =arie a''ording to the a''e-tan'e o, ri 7 6y the in=e tor .

FAST MOVING 5ONSUMER GOODS!

Do;-any

Ri 7

Pro6a6i(ity Ret:rn E>-e'ted ret:rn #.#% #.#% %#.77 4$.5) #.49 #.)7

"& 5ind: tan Uni(e=er Ltd #.33 1+D Ltd #.55

! (.* (.(.1 (.. (./ (.0 (.' (.2 (.! ( 2industan unilever 34C 5td

Ris6 Anticipated return

INTERPRETATION!

+he in=e tor 'an ;a7e their in=e t;ent in 1+D Ltd and the ne>t -re,eren'e i gi=en to 5ind: tan Uni(e=er Ltd, e=en tho:gh the (e=e( o, ri 7 i ;ore the ret:rn attained 6y the in=e tor i gen:ine. +he in=e t;ent i ;ore ,a=ora6(e ,or ri 7 ee7er and ri 7 ne:tra( , hen'e they 'an ;o=e ,or2ard ,or their in=e t;ent.

INFORMATION TE5,NOLOGY SE5TOR!

Do;-any 1n,o y 8i-ro +DS

Ri 7 "& #.** #.$3 #.$%

Pro6a6i(ity #.#3 #.#3 #.#3

Ret:rn )%.9* 95$.4) %$9.9)

E>-e'ted ret:rn %.7* 4.75 $.43

INTERPRETATION!
+he in=e tor 'an ;a7e their in=e t;ent in +DS and the ne>t -re,eren'e i gi=en to 8i-ro te'hno(ogie and (ater on to the 1n,o y +e'hno(ogie , e=en tho:gh the ri 7 ,a'ed 6y the in=e tor =arie 6:t a(( the 7ind o, in=e tor 2i(( 6e ati ,ied a''ording to their in=e t;ent 'a-a6i(itie .

POWER SE5TOR!
Do;-any N+PD +ata -o2er 0NGD R1L Ri 7 "& #.55 #.$4 #.7) 9.%# Pro6a6i(ity #.#4 #.#4 #.#4 #.#4 Ret:rn 39.4% 9#9.5) 7%.44 $7.$4 E>-e'ted ret:rn 9.%5 4.#* %.$) 3.57

INTERPRETATION!
+he in=e tor 'an ;a7e there in=e t;ent in +A+A Po2er and the ne>t -re,eren'e i gi=en to Re(ian'e ind: trie (i;ited and (ater in 'o;e to 0NGD and ,ina((y the N+PD.

E=en the in=e t;ent in thi

e'tor 'an ati ,y a(( the 7ind o, in=e tor a''ording to the

=aried (e=e( o, a''e-tan'e o, ri 7 'a-a6i(itie .

PORTFOLIO OF VARIOUS SE5URITIES!
Sector8 5o: ing re(ated +ran -ort e<:i-;ent Da-ita( good +e(e 'o;;:ni'ation 5ea(th 'are Di=er i,ied e'tor ?inan'e e'tor Meta( @ ;eta( -rod:'t ?MDG 1.+ e'tor Po2er e'tor 5o/2*n. Re(ian'e in,ra +ata ;otor L@+ Bharthi Airte( S:n Phar;a H.P.A o'iate 1D1D1 Ban7 Ltd +ata tee( 1+D Ltd +DS +A+A Po2er Ri8< 9.5$ 9.9$ 9.%% #.74 #.3% 9.$# 9.54 9.4% #.55 #.$% #.$4 Antici2*te( ret)rn 3.%5 99.54 %.44 -#.%9 #.34 ).#7 5.$3 $.43 #.)7 $.43 4.#*

PI) (,A-$ -)P-)*) $A$I+ +' A## $,) *)($+-* +((UP.I 1 $,)I- P+*I*$I+ * I $,) ) $I-) &A-7)$ *,A-)/

INTERPRETATION!
+he (e=e( o, ret:rn i highe t ,or the tran -ort e<:i-;ent 2hi'h o'':-ie the ;a.or -ortion o, the tota( ;ar7et hare and the ne>t -re,eren'e i gi=en to di=er i,ied e'tor o, H.P.A o'iate , and (ater on to +DS and ne>t -re,eren'e i gi=en to ;eta( -rod:'t a the (e=e( o, ret:rn i e<:a( to 6oth +DS and +A+A S+EEL 6:t the (e=e( o, ri 7 =arie ,or 6oth o, the;. 5en'e the in=e tor 'an -re,er the to- a the e three, and the ne>t -re,eren'e 'an 6e gi=en to the e'tor 2hi'h ha=e higher e>-e'ted rate o, ret:rn . Genera((y, the in=e tor are o, three ty-e i.e., ri 7 ee7er , ri 7 ne:tra( , ri 7 a=erter 2ho 'an in=e t their in=e t;ent in a(( the e'tor a''ording to their ri 7 a''e-ting 'a-a6i(itie .

CHAPTER-%
• Fin&in'# • #(''e#"ion# • )on)l(#ion

FINDINGS

 +he ;ain ,inding o, the t:dy a6o:t on(ine trading BSE a t:dy o, 3i a7ha-atna;, 1ND1ABULLS P3+ L+D., i the (eading to'7 6ro7ing ho: e thro:gho:t 1ndia.  Do;-anyE 6a i' -rin'i-(e i tota( 'o;;it;ent in er=i'e to a(( '(ient 2ith tran ient(y and ind:(ge it trading o-eration  0n(ine trading gi=e 'ontro( to indi=id:a( and they 'an e>er'i e it o=er their a''o:nt  1n=e tor ,ee( to trade on on(ine a they ha=e to a''e o2n -ort,o(io.  1ND1ABULLS Pro=ide a 'o;-(ete in,or;ation re-ort on re :(t and -er,or;an'e o, indi=id:a( 'o;-anie  +he trading y te; o, BSE -ro=ide enor;o: ,(e>i6i(ity to trading ;e;6er 2hen entering an order, a trading ;e;6er 'an -(a'e =ario: 'ondition a the order in ter; o, -ri'e and ti;e. too( to in=e t and 'an 'reate their

 SUGGESTIONS

 1n=e tor  1n=e tor

ho:(d re=ie2 their -ort,o(io 2ith '(o e o6 er=ation on ;ar7et 'hange . ho:(d not ti'7 on to -arti':(ar 'ri- ,or (ong ti;e e=en tho:gh tho e are not

-er,or;ing 2e((.  1n=e tor ho:(d ha=e 'ontin:o: ana(y i o=er the di,,erent trend in the ;ar7et and

,:nda;enta( o, the 'o;-anie  1n=e tor ho:(d ana(yBe the ;ar7et o--ort:nitie in rea(i ti' ;anner a 2e(( a

,:nda;enta(  1n=e tor  1n=e tor  1n=e tor ho:(d in=e t in tho e 'o;-anie gi=ing reg:(ar di=idend and other earning . ho:(d not 6e(ie=e in r:;or a6o:t the to'7 ;ar7et trend . ho:(d not ti'7 on to -arti':(ar 'ri- ,or (ong ti;e e=en tho:gh tho e are not

-er,or;ing 2e((.

5ON5LUSION

+he 'o;-rehen i=e t:dy on /on(ine trading y te; and de;ateria(iBation o, e':ritie A at 1ND1ABULLS (i;ited ha 6een an en(ightening e>-erien'e tre ing on the -o iti=e e't on e':rity trading. De;ateria(iBation o, hare and on(ine trading had done in 2ho(e (ot o, good to the i :er, in=e tor, 'o;-anie and 'o:ntry. +he de-o itory y te; ha red:'ed the ti;e (ag in de(i=ery and ett(e;ent o, e':ritie 6:t a( o :--orted the 'a: e o, -ro=iding ;ore (i<:idity to the e':rity ho(der, the need o, re et ting :- o, a de-o itory, -a-er (e y te; ha -ro=ided it 2orthine trading thro:gh on(ine trading y te; and ett(e;ent 6e'a;e 6y in'rea ing the -eed o, tran a'tion 2ith in +I% day y te; o, De;at and on(ine ine=ita6(e and :na=oida6(e ,or the ;ooth and e,,i'ient ,:n'tioning o, the 'a-ita( ;ar7et. +hi 2hi'h 2a ear(ier CI5 day , no2 there i a -ro-o a( that the ett(e;ent 2i(( 6e done in +I9 day in near ,:t:re i in it e(, an indi'ation o, ho2 great a 6oon in thi trading.

appen&i*
+i+ilo'rap,y

BIBLIOGRAP,Y
BOO+S INVESTMENT MANAGEMENT BUSINESS AS USUAL A.V.AVAD,ANI R.5.BETALA

WEBSITES
 WWW.BSEINDIA.5OM  WWW.NSEINDIA.5OM  WWW.,SE.ORG