Asif Trend Analysis of Commodity; Copper

8/4/2019 Asif Trend Analysis of Commodity; Copper

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A

PROJECT REPORT ONTREND ANALYSYS OF COMMODITY MARKET;

COPPER

UNDERTAKEN AT:

NIRMAL BANG SECURITIES PVT. LTD.

Cannaught Place, New Delhi.

Submitted By:

MOHAMMED ASIF

Guided By:

MR. SHADAB

POST GRADUATION PROGRAMME

(FALL WINTER 2010-12)

ISBE-(A)

SECTION- FD-1

ID NO. -D1012FWISBE-A10255(GGN-2B-GA-2038)

INDIAN INSTITUTE OF PLANNING AND MANAGEMENT


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DECLARATION

I, MOHAMMED ASIF here by declare that the project report entitled TREND ANALYSYS OF

COMMODITY MARKET; COPPER is based on my own work and my indebtedness to other

work/ publications, if any have been duly acknowledged at the relevant place.

PLACE: New Delhi

DATE:

MOHAMMED ASIF


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ACKNOWLEDGEMENT

To acknowledge is very great way to show your gratitude towards the persons who have contributed

in your success in one or other way.

I find words inadequate to express my gratitude to Mr. DHARMESH PATEL for providing me an

opportunity to carry out my Project as such a well reputed and leading stock broking company

Nirmal Bang Securities Private Limited.

At the very outset of the training I deem it is my pious duty to express my sincere thanks also to

companys Gujarat Head Mr. Dharmesh Patel for his continuous guidance and supervision and

support during the project.

I would like to thank MR. SHADAB, who has guided me for my project work and provided

encouragement through out my training period.

This study could not have been successful without the valuable input of the customer of Nirmal

Bang.


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Table of contents

S.no Topic Page No.

1. EXECUTIVE SUMMARY 5

2. INTRODUCTION 6

3. RESEARCH OBJECTIVES &METHODOLOGY

7-10

4. BODY OF THE REPORT - SECTOROVERVIEW

11-21

5. COMPANY DETAILSPRIMARY FINDINGS

22-44

6. INTERNSHIP ACTIVITIES 45-55

7. ASSESSMENT OF THE INTERNSHIP 56-68

8. Conclusion 69

9. Recommendations 70

10. ILLUSTRATION & ANNEXURE 70

11.BIBLIOGRAPHY 71


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EXECUTIVE SUMMARY

This project is completely based on market research of Awareness of Commodity

Market. Under this research, we have taken 100 sample sizes of which 100 questionnaires belong to

Retail investors. On the basis of that we have assessed the awareness of the people towards

commodity market, their preference towards trading in commodity market & in context to segment

(Agro, Precious metals).

For this research, firstly I draft a questionnaire for the research purpose & then I look upon the

working class people of my society for my research.

While pursuing my research work I came to know that majority of Indian investors are not aware of

organized commodity market; their perception about is of risky to very risky investment. Many of

them have wrong impression about commodity market in their minds. It makes them suspicious

towards commodity market. Concerned authorities have to take initiative to make commodity trading

process easy and simple. There is no doubt that in near future commodity market will become Hot

spot for Indian farmers rather than spot market. And producers, traders as well as consumers will be

benefited from it. But for this to happen one has to take initiative to standardize and popularize the

Commodity Market.


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INTRODUCTION:

LEARNING/WORKING TILL DATE:The 2months at Nirmal Bang had been a very fruitful experience.I realized that no matter how much

good we are in learning from books, the real situation is faced when one enter into the real

market.The corporate structure is completely different. With NIRMAL BANG I got the chance to

implement my marketing knowledge and skill to develop the business of the franchisee.

DATABASE COLLECTION

The initial task was to create a database of the potential individual client. The database was formed

through various methods. Firstly, the name and phone numbers of the investors were collected from

the internet and from newspaper. Secondly, initially I had to accompany my seniors to campaigning

programs where name and phone numbers of individual clients were collected.

FIXING APPOINTMENTS

The next step in acquiring clients were to give them a call and finalizing an appointment with the

interested individuals.

VISITINGS POTENTIAL CLIENTS

After the appointment is fixed, the next step was to visit these potential clients. I was most of the timeaccompanied by a senior while visiting any client. I had to visit many clients mostly in Vasantkunj,

Hauzkhas,Noida etc. In these client visits, we used to pitch our product and services according to the

needs of the clients.

FOLLOW UP PROCESS

Most of the potential clients were not readily convinced at the first visit. Thus I had to keep in touch

with these clients and updating my seniors with the present situation

CLOSING DEAL

When a client is convinced, we needed to close the deal by filling up our forms and getting the

required documents like Xerox of PAN card, Xerox of address proof, photograph, etc. When all these

formalities were completed, only then the deal was completed


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RESEARCH METHODOLOGY:

Research methodology is the Procedure adopted for conducting the research study. Research

methodology should be carefully planned as the accuracy reliability and adequacy of results is totally

depending on the Research Methodology followed. It gives the researcher a guideline by which

he/she can decide which techniques and procedures will be applicable to a given problem. Moreover

it helps in the evaluation of research by other also. So for the research to be successful, purposeful

and effective the researcher should plan the Research Methodology before preceding the study.

The following aspect should be considered while designing a Research Methodology.

Research Problem

The first step while conducting a research is to carefully define a problem as the report emphasis on

the TREND ANALYSIS OF COPPER

Research design: A research study conducted scientifically has a specific framework of research from the

problem identification to the research study. The framework of conducting the research is

known as Research Design.

After defining the research problem in a clear-cut terms it will be required to prepare such a

research design which will state the conceptual structure within which the research would be

conducted.

The research study presently done is both subjective and exploratory The study is subjective because.

The sampling technique was convincing sampling.

Use of survey method with the sample population was done in order to extract data.

Structural and well thought out instruments for collection of data were used.


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This measurement-based methodology focuses on market measurement, analysis,

forecasting, strategy, development and monitoring. Data retrieved from the secondary and

primary research regarding the awareness of commodity market was compiled, analyzed and

to provide a market structure and market forecasts.

Sampling Population

For conducting the research study, the population selected was the Investors of India.

Sample size:

Investors of south Delhi region have been taken for the research purpose. In order to realize the

study the objectives a considerably volume of both primary and secondary data is needed. It has

been therefore found necessary to conduct an Interview schedule for gathering relevant data fromthe users.

Primary Data has been collected from the investors during May 11 Jun 11 with the help of a

structured Questionnaire with convenience judgment sample of 100 respondents have been taken

for carrying out the study. These respondents were the working class & businessmen of the society.

Secondary Data the information regarding the Indian commodity market has been drawn from

various published sources. They include Professional business Journals and Magazines, besides the

Newspapers. The data relating to Nirmal Bang Commodities has been collected from company

website and its published sources.

This study is necessarily based on the limited knowledge and little practical exposure the constraints

of resources and time have further imposed limits to the study boundaries.


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RATIONALE FOR STUDY:

The main objective of the study is to find out the awareness level of the persons towards

commodity market.

The need for this can be explained if one knows the importance of understanding the

Customer awareness. So in the following paragraph the Customer awareness and its role in

the success of an organization have been explained.

Customer awareness is taken up to boost the sales of a product by the company. Companies

having service facilities may service a product and price is according and provide it through

the sub brokers and franchise by its distribution network.

Considering the fact that consumer according to the time need, want and the purchasing

power, it depends on the services therefore, the marketers rely on the marketing mix to cater

to the customers efficiently and effectively.

So the companies giving the service, pricing and planning them have to carefully look into the

minds of the consumers and place the services favorably in the minds of the consumers.


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LIMITATIONS:

The respondents of the questionnaire are very busty and could not afford more time to

answer. The average time to response was 5-6 minutes only.

A limited sample size of 100 customers was considered because of time constraint. An

assumption is made that the sample represents the whole population. It will not carry the total

reflection of the copier market. Total sample size is comparatively less to represent the entire

population.

The data was of primary nature. So the degree biases were relatively high as the sample was

randomly selected.


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INDUSTRY PROFILE:HISTORY OF THE STOCK BROKING INDUSTRY:

Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200 years ago.

In 1887, they formally established in Bombay, the "Native Share and Stock Brokers' Association"

(which is alternatively known as "The Stock Exchange"). In 1895, the Stock Exchange acquired a

premise in the same street and it was inaugurated in 1899. Thus, the Stock Exchange at Bombaywas consolidated.

Thus in the same way, gradually with the passage of time number of exchanges were increased and

at currently it reached to the figure of 24 stock exchanges.

This was followed by the formation of associations /exchanges in Ahmadabad (1894), Calcutta

(1908), and Madras (1937).

In order to check such aberrations and promote a more orderly development of the stock market, thecentral government introduced a legislation called the Securities Contracts (Regulation) Act, 1956.

Under this legislation, it is mandatory on the part of stock exchanges to seek government

recognition. As of January 2002 there were 23 stock exchanges recognized by the central

Government. They are located at Ahmadabad, Bangalore, Baroda, Bhubaneswar, Calcutta,

Chennai,(the Madras stock Exchanges ), Cochin, Coimbatore, Delhi, Guwahati, Hyderabad, Indore,

Jaipur, Kanpur, Ludhiana, Mangalore, Mumbai(the National Stock Exchange or NSE), Mumbai (The

Stock Exchange), popularly called the Bombay Stock Exchange, Mumbai (OTCExchange of India),

Mumbai (The Inter-connected Stock Exchange of India), Patna, Pune, and Rajkot. Of course, the

principle bourses are the National Stock

Exchange and The Bombay Stock Exchange, accounting for the bulk of the business done on the

Indian stock market.


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BSE (BOMBAY STOCK EXCHANGE)

The Stock Exchange, Mumbai, popularly known as "BSE" was established in 1875 as "The

Native Share and Stock Brokers Association". It is the oldest one in Asia, even older than the

Tokyo Stock Exchange, which was established in 1878. It is the first Stock Exchange in the Country

to have obtained permanent recognition in 1956 from the Govt. of India under the Securities

Contracts (Regulation) Act, 1956.

A Governing Board having 20 directors is the apex body, which decides the policies and

regulates the affairs of the Exchange. The Governing Board consists of 9 elected directors, who arefrom the broking comm

Unity (one third of them retire ever year by rotation), three SEBI nominees, six public representatives

and an Executive Director & Chief Executive Officer and a Chief Operating Officer.


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NSE (NATIONAL STOCK EXCHANGE)

NSE was incorporated in 1992 and was given recognition as a stock exchange in April 1993. It

started operations in June 1994, with trading on the Wholesale Debt Market Segment. Subsequently

it launched the Capital Market Segment in November 1994 as a trading platform for equities and the

Futures and Options Segment in June 2000 for various derivative instruments.

MCX (MULTI COMMODITY EXCHANGE)

MULTI COMMODITY EXCHANGE of India limited is a new order exchange with a mandate for

setting up a nationwide, online multi-commodity market place, offering unlimited growth opportunities

to commodities market participants. As a true neutral market, MCX has taken several initiatives for

users in a new generation commodities futures market in the process, become the countrys premier

exchange.

MCX, an independent and a de-mutualized exchange since inception, is all set up to introduce a

state of the art, online digital exchange for commodities futures trading in the country and has

accordingly initiated several steps to translate this vision into reality.


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NCDEX (NATIONAL COMMODITIES AND DERIVATIVES EXCHANGE)

NCDEX started working on 15th December, 2003. This exchange provides facilities to their

trading and clearing member at different 130 centers for contract. In commodity market the main

participants are speculators, hedgers and arbitrageurs.

Facilities Provided By NCDEX

NCDEX has developed facility for checking of commodity and also provides a wear house

facility

By collaborating with industrial partners, industrial companies, news agencies, banks and

developers of kiosk network NCDEX is able to provide current rates and contracts rate.

To prepare guidelines related to special products of securitization NCDEX works with bank.

To avail farmers from risk of fluctuation in prices NCDEX provides special services for

agricultural.

NCDEX is working with tax officer to make clear different types of sales and service taxes.

NCDEX is providing attractive products like weather derivatives


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STOCK MARKET BASIC

What are corporations?

Companies are started by individuals or may be a small circle of people. They pool their money

or obtain loans, raising funds to launch the business.

A choice is made to organize the business as a sole proprietorship where one

Person or a married couple owns everything, or as a partnership with others who may wish to invest

money. Later they may choose to "incorporate". As a

Corporation, the owners are not personally responsible or liable for any debts of the company if the

company doesn't succeed. Corporations issue official-looking sheets of paper that represent

ownership of the company. These are called stock certificates, and each certificate represents a set

number of shares. The total number of shares will vary from one company to another, as each

makes its own choice about how many pieces of ownership to divide the corporation into. One

corporation may have only 2,500 shares, while another, such as IBM or the Ford Motor Company,

may issue over a billion

Shares. Companies sell stock (pieces of ownership) to raise money and provide funding for the

expansion and growth of the business. The business founders give up part of their ownership in

exchange for this needed cash. The expectation is that even though the owners have surrendered a

portion of the company to the

Public, their remaining share of stock will become increasingly valuable as the business grows.

Corporations are not allowed to sell shares of stock on the open

Stock market without the approval of the Securities and Exchange Commission (SEC). This

transition from a privately held corporation to a publicly traded one is

Called going public, and this first sale of stock to the public is called an initial public offering, or IPO.


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Why do people invest in the stock market?

When you buy stock in a corporation, you own part of that company. This gives you a vote at annual

shareholder meetings, and a right to a share of future profits.

When a company pays out profits to the shareholder, the money received is called a "Dividend".

The corporation's board of directors choose when to declare a dividend and how much to pay. Most older

and larger companies pay a regular dividend, most newer and smaller companies do not.

The average investor buys stock hoping that the stock's price will rise, so the shares can be sold at a

profit. This will happen if more investors want to buy stock in a company than wish to sell. The

potential of a small dividend check is of little concern.

What is usually responsible for increased interest in a company's stock is the prospect of the company's

sales and profits going up.

A company who is a leader in a hot industry will usually see its share price rise dramatically.

Investors take the risk of the price falling because they hope to make more money in the market than

they can with safe investments such as bank CD's or government bonds.

What is a stock market index?

In the stock market world, you need a way to compare the movement of the market, up and down, from

day to day, and from year to year. An index is just a benchmark or yardstick expressed as a number

that makes it possible to do this comparison. For e.g. S&P CNX Nifty is the index of NSE and SENSEX

is the index of BSE.

The price per share, like the market cap, has nothing to do with how big a company is.


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The Securities Market consists of two segments, viz. Primary market and Secondary market.

Primary market is the place where issuers create and issue equity, debt or hybrid instruments forsubscription by the public; the Secondary market enables the holders of securities to trade them.

Secondary market essentially comprises of stock exchanges, which provide platform for purchase

and sale of securities by investors. In India, apart from the Regional Stock

Exchanges established in different centers, there are exchanges like the National StockExchange (NSE) and the Over the Counter Exchange of India (OTCEI), who provide nation wide

trading facilities with terminals all over the country. The trading platform of stock exchanges is

accessible only through brokers and trading of securities is confined only to stock exchanges.


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Corporate Securities:

The no of stock exchanges increased from 11 in 1990 to 23 now. All the exchanges are fully

computerized and offer 100% on-line trading. 9644 companies were available for trading on stock

exchanges at the end of March 2002. The trading platform of the stock exchanges was accessible to9687 members from over 400 cities on the same date.

Derivatives Market:

Derivatives trading commenced in India in June 2000. The total exchange traded derivatives

witnessed a volume of Rs. 442,343 crore during 2002-03 as against Rs. 4018 crore during the

preceding year. While NSE accounted for about 99.5% of total turnover, BSE accounted for about

0.5% in 2002-03. The market witnessed higher volumes from June 2001 with introduction of index

options, and still higher volumes with introduction of stock options in July 2001. There was a spurt in

volumes in November 2001 when stock futures were introduced. It is believed that India is the

largest market in the world for stock futures.

Supply and Demand

A stock's price movement up and down until the end of the trading day is strictly a result of supply

and demand. The SUPPLY is the number of shares offered for sale at anyone one moment. The

DEMAND is the number of shares investors wish to buy at exactly that same time. What a share of a


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company is worth on anyone day or at any one minute, is determined by all investors voting with their

money. If investors want a stock and are willing to pay more, the price will go up. If investors are

selling a stock and there aren't enough buyers, the price will go down Period.

Secondary Market Intermediaries

Stock brokers, sub-brokers, portfolio managers, custodians, share transfer agents constitute the

important intermediaries in the Secondary Market.

No stockbrokers or sub-brokers shall buy, sell or deal in securities unless he holds a certificate of

registration granted by SEBI under the Regulations made by SEBI ion relation to them.

The Central Government has notified SEBI (Stock Brokers & Sub-Brokers) Rules, 1992 in exercise of

the powers conferred by section 29 of SEBI Act, 1992. These rules came into effect on 20th August,

1992.

Trading Through Brokers / Traditional Method of Share Trading:-

Trading in the stock exchange can be conducted only through member broker in securities that are

listed on the respective exchange. Investor intending to buy/sell securities in the exchange has to do

so only through a SEBI registered broker/sub-broker. This is very popular concept in India for Share

Trading before the facilities like on line trading introduce.

Both the exchange have switched over from the open outcry trading system to fully automated

computerized mode of trading knows as Bolt and Neat. In this system, the broker trade with each

other through the computer network. Buyers and sellers place their orders specifying the limits for

quality and price. Those that are not matched remain on the screen and is opened for future

matching


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during the day / settlement. After the advent of computerized trading the speed of trading has

increased multi-fold and a fuller view of the market is available to the investors.

To start dealing with broker you have to fill a form with the broker. After fill all the formalities the firm

gives you a User Id no like a bank a/c no. through which you can enter in the transaction with broker.

Broker will gives all the which one investor needed.

What is stock Broker?

A stock broker is one who invests other peoples money until its all gone.

-Woody Allen, American Film Maker

A stock broker is a person or a firm that trades on its clients behalf, you tell them what you want to

invest in and they will issue the buy or sell order. Some stock brokers also give out financial advice

that you a charged for.

It wasnt too long ago and investing was very expensive because you had to go through a full service

broker which would give you advice on what to do and would charge you a hefty fee for it.

There are three different types of stock brokers.

1. Full Service Broker - A full-service broker can provide a bunch of services such as

investment research advice, tax planning and retirement planning.

2. Discount BrokerA discount broker lets you buy and sell stocks at a low rate but

doesnt provide any investment advice.


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3. Direct-Access Broker- A direct access broker lets you trade directly with the electronic

communication networks (ECNs) so you can trade faster. Active traders such as day traders

tend to use Direct Access Brokers

No. of stock broker in India

9368:- Total no of share broker in the country

12687:- The no. of sub-broker.

46%:- The share of trades accounted for by NSE broker

90%: The share of On line trades clocked by segments top five companies

Generally there are two types of trading have been done in India which is given below:

On line Trading / E Broking / Modern Method

Trading through Brokers / Traditional method of Share trading.


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COMPANY PROFILE:

ABOUT NIRMAL BANG

INTRODUCTION:-

Nirmal Bang Group is one of the largest retail broking house in India, providing the investors

state of art services in capital markets in the country. The Group has memberships of Bombay

Exchange Limited, National Stock of India Limited, Multi Commodity Exchange of India Limited,

National Commodity and Derivatives Exchange Limited and is also a depository participant of NSDL

and CDS (I) L, the depositories of the country.

They started in 1986 under Late Shri Nirmal Bang as sub brokers but have grown steadily and

progressively since then. Their clients had contributed tremendously to their growth they recognize

and applaud that, they value their relationship with the customers and for their convenience had all

investing avenues under one roof.

NIRMAL BANG consultant:

NIRMAL BANG believe that they were best positioned to venture into that activity as a Depository

Participant. They were one of the early entrants registered as Depository Participant with NSDL

(National Securities Depository Limited), the first Depository in the country and then with CDSL

(Central Depository Services Limited). Today, It service over 1Lac customer accounts in this

business spread across over 350 cities/towns in India and are ranked amongst the largest

Depository Participants in the country. With a growing secondary market presence.

It has transferred this business to NIRMAL BANG SECURITIES PRIVATE LIMITED (NBSPL), their

associate and a member of NSE, BSE, MCX & NCDEX.


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Business Focus:

The focus of the business is the Customer Customer service, Customer education, Customer

support, Customer relations and last but not the least Customer acquisition. Trade execution

transparency, timely settlements, risk monitoring and superior service shall have topmost priority, in

the best interests of all concerned.

VISION STATEMENT

TO CREATE VALUABLE RELATIONSHIP AND PROVIDE THE BEST FINANCIAL

SERVICES MOST PROFESSIONALLY

MISSION STATEMENT

TO WORK TOGETHER WITH INTEGRITY & MAKE OUR CUSTOMER FEEL

VALUED

RESPECT OUR COLLEAGUE AND THE BUSINESS ITSELF


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Board of Directors

Of

NIRMAL BANG GROUP

NAME POSITION

Mr. Dilip M.

Bang

Director

Mr. Kishor M.

Bang

Director

Mr.Rakesh

Bhandari

Chartered Accountant

Mr. Deepak

Agarval


Mr.Suvinay

Sharma


Mr.Naresh

Samdani


Mr. Deepak

Patel


Mr. Sunil

Jain


Mr.Anup

Agarval



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PPrriinncciippaall AAccttiivviittiieess OOff

NIRMAL BANG GROUP

NIRMAL BANG Securities Private Limited

Member : National Stock Exchange of India Limited

Member : Bombay Stock Exchange Limited

Participant : National Securities Depository Limited

Participant : Central Depository Service (India) Limited

NIRMAL BANG Commodities Private Limited

Member - Multi Commodity Exchange of India Limited

Member - National Commodities and Derivatives Exchange Ltd.

BANG Equity Broking Private Limited

Member - Bombay Stock Exchange Ltd

Nadi Finance & Investment Private Limited

RBI registered Non Banking Finance Company


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Publications of NIRMAL BANG

NIRMAL BANG- Beyond Market

NIRMAL BANG Profile

REGISTERED OFFICE

NEW DELHI Branch

"NIRMAL BANG HOUSE"38, Khatau Building, 2nd Floor,Alkesh Dinesh Modi Marg, Fort,Mumbai - 400 001,Maharashtra.

Flat No. 120, 1st Floor, New Delhi

House, 27 BarakhambaRoad, Cannaught Place,New Delhi - 110 001.


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Organization Chart:

Nirmal Bang

FranchiseBranch

Web Sales Sales Coordinator

Customer

Receptionist

Account Head


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SWOTAnalysis


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Strength:-

23 years of research and broking experience

Understandings of the markets

All financial needs under one roof

Scalable and robust infrastructure

Full fledge research unit comprising of both fundamental & technical research

Dedicated, Qualified and Loyal staff

Flexible Brokerage charges

Weakness:-

Low Brand Image in the market. Low Professionalism

Low Advertisements

Opportunity:-

Large potential market for delivery and intra-day transactions.

Open interest of the people to enter in to stock market for investing

Attract the customers who are dissatisfied with other brokers & DPs.

Up growing markets in commodity and forex trading


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Threats:-

Decreasing rates of brokerage in the market. A Increasing competition against other brokers

& DPs.

Poor marketing activities for making the company known among the customers. A threat of loosing

clients for any kind of weakness of the company. An Indirect threat from instable stock market, i.e.,

low/no profit of NIRMAL BANG's clients would lead them to go for other broker/DP.


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Nirmal Bang Commodities:

Nirmal Bang Commodities is founded in the year 1986 by ShriNirmal Bang, the Nirmal Bang Group

is recognized as one of the largest retail broking houses in India, providing an array of financial

products and services. Their retail and institutional clients have access to products such as equities,

derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services

and PMS. It is amongst the top 10 Brokerage house in the country in terms of branches and

amongst top 15 brokerage houses by trading volume.

It is the member of all principal stock and commodity exchanges in the country.

The group is headed by Mr. Dalip Bang & Kishore Bang, who bring forward industry expertise,

insight & most importantly, create an environment of unmatched commitments to client. Our greatest

asset drawn from a diversity of professional backgrounds, their blend of experience, skill and

dedication is shared with all our clients.

The firms online trading and investment site - www.nirmalbang.com which allows the users to get

access through the various services available like stock quotes, NB Research etc. and it also

publishes its fortnightly magazine named BEYOND MARKET.
http://www.nirmalbang.com/http://www.nirmalbang.com/


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Some key steps of the company :

Success mantrasof Nirmal Bang Commodities:-

The success story of the company is driven by their greatest asset. Drawn from a diversity of

professional backgrounds, their blend of experience, skill and dedication is shared with all our

clients.

Vision of Nirmal Bang Commodities:-

To create valuable relationships

And

Provide the best financial services most professionally.

Mission statement:

Innovative and enthusiastic. We emphasize adequate, thorough research local and world-wide

developments, balancing these with the astute discovery of intrinsic values, synergies and growth.

To Double the market share in retail Equity & Commodity broking market.

To Increase the trading turnover.

To expand the network of our branches.

To Target foreign institutional business and achieve significant volume of the total volume in the

industry.

To provide international commodity trading platform.

To Provide high speed hassle free services to clients by using latest technology.


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As the project is on the COMMODITY; COPPER, it is necessary to know the terms and

the exchange on which it is traded. The details are given as below-

Commodity futures are standard futures contract, which are exchange traded; these contracts have

their respective commodity as its underlying asset and derive the dynamics from it. Such contracts

allow the participant to buy and sell a certain commodity at a certain traded price for future delivery.

A commodity futures contract is generally leveraged giving opportunity for all types of investors to

enter. Typically such a contract has an expiry and delivery attached with it. Commodity futures are

stable speculative instruments and also a good portfolio diversifier.

India has a long history of commodity futures trading. The cotton exchange at Bombay, Bombay

Cotton Exchange, was the first institution to operate the cotton contract in 1921. However, after

1940s, futures trading faced rough weather because of the Governments urge to control inflation.

But the situation has undergone a lot of change since then. For over three decades since mid

1960s, the commodity traders in the country had been demanding resumption of futures trading in

major farm commodities and their products.

With the gradual withdrawal of the government from various sectors in the post-liberalization era, the

need has been felt that various operators in the commodities market be provided with a mechanism

to hedge and transfer their risks. India's obligation under WTO to open agriculture sector to world

trade would require futures trade in a wide variety of primary commodities and their products to

enable diverse market functionaries to cope with the price volatility prevailing in the world markets.

At preent the futures contracts for period up to six months are being traded in a variety of

commodities. Futures trade is allowed in items like gold, silver, copper, crude oil, wheat, pulses,

pepper, castor oil, sugar, soybean, coffee, etc.


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COMMODITY MARKET:


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Introduction to Commodity Market:

What is Commodity?

Any product that can be used for commerce or an article of commerce which is traded on an

authorized commodity exchange is known as commodity. The article should be movable of value,

something which is bought or sold and which is produced or used as the subject or barter or sale. In

short commodity includes all kinds of goods. Indian Forward Contracts (Regulation) Act (FCRA),

1952 defines goods as every kind of movable property other than actionable claims, money and

securities.

In current situation, all goods and products of agricultural (including plantation), mineral and fossil

origin are allowed for commodity trading recognized under the FCRA. The national commodity

exchanges, recognized by the Central Government, permits commodities which include precious

(gold and silver) and non-ferrous metals, cereals and pulses, ginned and un-ginned cotton, oilseeds,

oils and oilcakes, raw jute and jute goods, sugar and gur, potatoes and onions, coffee and tea,

rubber and spices. Etc.

What is a commodity exchange?

A commodity exchange is an association or a company or any other body corporate organizing

futures trading in commodities for which license has been granted by regulating authority.

What is Commodity Futures?

A Commodity futures is an agreement between two parties to buy or sell a specified and

standardized quantity of a commodity at a certain time in future at a price agreed upon at the time of

entering into the contract on the commodity futures exchange.


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Flexibility, certainty and transparency in purchasing commodities facilitate bank financing.

Predictability in prices of commodity would lead to stability, which in turn would eliminate the risks

associated with running the business of trading commodities. This would make funding easier and

less stringent for banks to commodity market players.

STRUCTURE OF COMMODITY MARKET IN INDIA:

Ministry ofConsumer Affairs

FMC (Forward

MarketCommission)

CommodityExchange

NationalExchange

NCDEX MCX NMCE

RegionalExchange

NBOT20 other regional

exchanges


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Contracts Act, Forward Commission (Regulation) Act and various other legislations, which impinge

on its working.

NCDEX is located in Mumbai and offers facilities to its members in more than 550 centres

throughout India. The reach will gradually be expanded to more centres.

Shareholders of NCDEX :

NCDEX is promoted by a consortium of four institutions. These are National Stock Exchange (NSE),

ICICI Bank Limited, Life Insurance Corporation of India (LIC) and National Board for Agriculture and

Rural Development (NABARD). Later on their shares were diluted and more institutions became

shareholders of NCDEX. These are Canara Bank, CRISIL Limited, Indian Farmers Fertilisers

Cooperative Limited (IFFCO), Punjab National Bank (PNB), Goldman Sachs, Intercontinental

Exchange (ICE) and Shree Renuka Sugars Ltd.

All the ten shareholders (now ICICI is not a shareholder of NCDEX) bring along with them expertise

in closely related fields such as agriculture, rural banking, co-operative expertise, risk management,

intensive use of technology, derivative trading besides institution building expertise.

Commodities Traded on NCDEX :

NCDEX gives priority to commodities that are most relevant to India, and where the price discovery

process takes place domestically. The products chosen are based on certain criteria such as price

volatility, share in GDP, correlation with global markets, share in external trade, warehousing

facilities, traders distribution, geographical spread, varieties etc. List of commodities offered for

futures trading on NCDEX are :

SPICES OIL AND OIL SEEDS PRECIOUS METALS

Pepper Caster seeds Gold

chilli Sesame seeds Silver

jeera Cotton seed oilcake Platinum


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NOTE- Currently, rice, sugar, urad and tur are de-listed(as on 1 April 2010)

turmeric Soy bean METALS

coriander Refined soy oil Steel

CEREALS Soybean meal(local and

export)

Copper

Wheat Mustard oil Zinc

Barley Kachhighani mustard oil Aluminium

Maize(yellow/red)

Rapseed- mustard seed

oilcake

Nickel

PULSES Crude palm oil ENERGY

Chana RBD Palmolein Crude Oil

Masoor Groundnut in shell Furnace Oil

Yellow peas Groundnut expeller oil Thermal Coal

OTHERS PLANTATION

PRODUCT

Brent crude oil

Guar seeds Rubber Natural Gas

Potato Coffee-Robusta cherry

AB

FIBRES

Mentha Oil Cashew Indian 28.5 mm cotton

Guar Gurr POLYMERS V 797 Kapas

CER Polypropylene Medium staple cotton

Gur Linear low density

polyethylene

Kapas

Almond Polyvinyl Chloride Raw Jute


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Leading five commodities traded on NCDEX:

2006-

07

2007-08 2008-09 2009-10 2010-11

Guar

Seeds

Guar Seeds Guar Seeds Guar Seeds RM Seeds

silver chana chana pepper Guar Seeds

Refined

Soy Oil

urad gold Refined Soy

Oil

Soybean

seeds

chana silver silver chana turmeric

Guar

gum

gold pepper jeera jeera


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MCX:

MCX stands of MULTI-COMMODITY EXCHANGE. MCX an independent and de-mutualized multi

commodity exchange has permanent recognition from Government of India for facilitating online

trading, clearing and settlement operations for commodity futures markets across the country. Key

shareholders of MCX include Financial Technologies (I) Ltd., State Bank of India (Indias largest

commercial bank) & associates, Fidelity International, National Stock Exchange of India Ltd. (NSE),

National Bank for Agriculture and Rural Development (NABARD), HDFC Bank, SBI Life Insurance

Co. Ltd., Union Bank of India, Canara Bank, Bank of India, Bank of Baroda and Corporation Bank.

Headquartered in Mumbai, MCX is led by an expert management team with deep domain knowledge

of the commodity futures markets. Through the integration of dedicated resources, robust technology

and scalable infrastructure, since inception MCX has recorded many first to its credit.

Inaugurated in November 2003 by ShriMukeshAmbani, Chairman & Managing Director, Reliance

Industries Ltd, MCX offers futures trading in the following commodity categories: Agri Commodities,

Bullion, Metals- Ferrous & Non-ferrous, Pulses, Oils & Oilseeds, Energy, Plantations, Spices and

other soft commodities.

MCX has built strategic alliances with some of the largest players in commodities eco-system,

namely, Bombay Bullion Association, Bombay Metal Exchange, Solvent Extractors' Association of

India, Pulses Importers Association, ShetkariSanghatana, United Planters Association of India and

India Pepper and Spice Trade Association.

Today MCX is offering spectacular growth opportunities and advantages to a large cross section of

the participants including Producers / Processors, Traders, Corporate, Regional Trading Centers,

Importers, Exporters, Cooperatives, Industry Associations, amongst others MCX being nation-wide

commodity exchange, offering multiple commodities for trading with wide reach and penetration and

robust infrastructure, is well placed to tap this vast potential.


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Following diagram gives a fair idea about working of the Commodity

market:


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FINDINGS:

1.The level of awareness among the investors about Nirmal Bang is very low

2.Most of the investors are businessman, the tendency of investing is much high among the

businessmen than those involved in service.

3.Most of the investors are invest their money from Kotak securities, Sharekhan, MotilalOswal andvery few of them are known about Nirmal Bang securities pvt.ltd.

4. The most popular source of information about the market among the investors are television and

newspaper followed by internet and business magazines.

5. People are reluctant to invest in commodities apart from Gold, Silver etc. This is due to the lack of

knowledge about the other commodities in them.


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INTERNSHIP ACTIVITY:

COPPER:

Copper was the first mineral that man extracted from the earth and along with tin give rise to Bronze

Age. As the ages and technology progressed, the uses of copper increased. With the increased

demand, exploration of the metal was extended throughout the world laying down the foundations of

the industry as we know it today. The diagram below shows the copper value chain.

Copper value chain:


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World copper production

Region %

Asia: 43

America: 32

Europe: 19

Africa: 4

Oceania: 2

Total: 100


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Industrial consumption

Industry %

Electrical/Electronic 42

Construction 28

Transportation 12

Consumer/General 9

Industrial mach. 9


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Characteristics of Copper

Copper ranks third in world metal consumption after steel and aluminum. It is a

product whose fortunes directly reflect the state of the world's economy.Copper is the

best non-precious metal conductor of electricity. The metal's exceptional

strength, ductility, and resistance to creeping and corrosion, makes it the preferred

and safest conductor for building wiring. Copper is also used in power cables,

either insulated or uninsulated, for high, medium and low voltage applications.

Copper is an essential component of energy efficient motors and transformers

and automobiles.

APPLICATION:

The global demand for copper continues to grow; world refined copper usage has

Surged by around 300% in the last 50 years owing to expanding sectors

such as electrical and electronic products, building construction, industrial

machinery

and equipment, transportation equipment, and consumer and general products.

Coppers chemical, physical, aesthetic properties make it a material of choice

in high technology applications. Since copper is biostatic, that is bacteria does not

grow on its surface, it is also used in air conditioning systems, and as an

anti-germ surface in hospitals.


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Supply and Demand :

Copper mine production was up nearly 2% from 15.805 million MT in 2009 to

16.099 million MT in 2010.

In 2010, global refined copper production was 19.186 million MT, up from 18.653

million MT in 2009, and global refined copper consumption was 19.200 million

MT,compared with 18.243 million MT in the previous year.

After substantial surpluses in 2008 and 2009, when it had seen an oversupply of

343,000 MT and 410,000MT respectively, the global copper market witnessed deficit

of 14000 MT in 2010.

copper usage- 2009

construction 33%

electrical and electronic

products 33%

Industrial machinery 12%

transport 11%

consumer products 11%


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Global Scenario

Economic, technological and societal factors influence the supply and demand of

copper. As society's need for copper increases, new mines and plants are introduced

and existing ones expanded.

Land-based resources are estimated at 1.6 billion tons of copper, and resources in

deep-sea nodules are estimated at 0.7 billion tons.

The global production of refined copper is around 15 million tons

While Chile accounts for 34% of the total world copper mine production, Peru, USA,

China, Australia and Indonesia, together are responsible for around 32%.

Growth in refined copper usage has been expecially strong in Asia where demand has

expaned more than 5-fold in less than 30 years.

Major refined copper exporting countries are Chile, Zambia, Japan, Russia and Peru.


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Indian Scenario:

Indias production of refined copper is approximately around 4% of the total world

production and in terms of figures it is around 600,000 MT

Birla Copper, Sterilite Industries are two major private producers and Hindustan

Copper Ltd the public sector producers.

India is emerging as net exporter of copper from the status of net importer on account

of rise in production by three companies.

Copper goes into various usage such as Building, Cabling for power and

telecommunications, Automobiles etc. Two major states owned telecommunications

service providers; BSNL and MTNL consume 10% of country's copper production.

Growth in the building construction andautomobile sector would keep demand of

copper high.


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CATHODES 17:10 TO 22:40**

SHANGAI

FUTURES

EXCHANGE

(SHFE)

STANDARD

COPPER

CATHODES

5 6:30 TO 9:00

11:30 TO 13:30

COMEX GRADE 1

ELECTROLYTIC

COPPER

25000 POUND 18:00 TO

17:15***

MCX GRADE 1

ELECTROLYTIC

COPPER

1 10:00 TO 23:30#

(MON-FRI)

10:00 TO

14:00(SAT)

* LME SELECT ** LME Ring timing (start time- ring session, end time- kerb trading) *** ET: NY

Time- electronic trading. # day light timing 100:00 to 23:55

COPPER SPECIFICATIONS:

SYMBOL COPPER

Description COPPER MMMYY

Trading period MONDAY TO SATURDAY

Trading session MONDAY TO FRIDAY- 10:00 TO

23:30.

SATURDAY 10:00 TO 14:00Contract Months Bi- monthly contracts

Expiry date Last day of the month

Trading unit 1 MT

Quotation/base value RS/PER KG

Tick size 5 Paise per kg

Maximum order size 70 MT

Daily price limit 4%


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Initial margin Minimum 5 % or based on SPAN

whichever is higher

Special margin In case of additional volatility, a

special margin at such percentage,

as deemed fit; will be imposed

immediately on both buy and sale

side in respect of all outstanding

position, which will remain in force till

volatility persists, after which the

special margin will be relaxed.

Maximum allowable open position FOR INDIVIDUAL CLIENTS :- 5000

MT

For a member: 25000 MT or not more

than 15% of the market-wide open

position, whichever is higher.

Delivery logic Both options

Delivery center Within 20 km outside Mumbai octroi

limit.

Delivery unit 9MT with tolerance limit of +/-%

(90kg)

Due date rate (DDR) calculation Due date rate is calculated on the last

day of the contract expiry, by taking

international spot price of copper and

it would be multiplied by Rupee

US$ rate as notified by the Reserve

Bank Of India.


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STUDY OF COPPER PRICES AS COMPARED TO GOLD:

As per the recent study of copper and gold prices, we can observe a lot of fluctuation in the prices of

both.

The downgrade of the US sovereign debt by Standard and Poors to AA+, from the decades-

untouched rating of AAA, has given another shot in the arm to already rising gold price. As per the

recent data, the gold price touchedRs.26,000 per 10 grams. On the other hand, the prices of copper has fall down to Rs.403. copper

prices act as a strong indicator of economic growth.


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ASSESSMENT OF THE INTERNSHIP:

QUESTIONNAIRE:

Analysis of Commodity Market (Survey)

Name .

Age .

Mail id ..Gender .

Q.1 In which sector do you work?a) Government c) Private

b) Self employed d) Business

e) Other

Q.2 What is your current Annual Income (in Rs)?

a) Below 200000 c) 400000-800000

b) 200000-400000 d) Above 800000

Q.3 What percentage of your income do you invest?

a) Below 10% c) 25-50%

b) 10-25% d) Above 50%

Q.4 Please specify the investment pattern.

a) Short-term c) Long-term

b) Mid-term d) Mix


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If yes, then refer to questions no. 11 to 13

Q.11 Rate the following attributes which influence your decision in choosing a Brokerage House on

the scale of 1 to 5

1 (Least

Preferred)

2(Less

Preferred)

3 (Neutral) 4(More

Preferred)

5 (Most

Preferred)

Customer Service

Proper Guidance

Regular Updates

Trustworthiness

Brokerage Charges

Q.12 In which segment did you want to transact?

a) Natural Metals (Copper, Natural Gas) c) Precious Metals (Gold, Silver)

b) Base Metals (Lead, Zinc) d) Agro commodities (Potato, Pepper, Soybean)

Q.13 Which Commodity exchange do you prefer for your investment?

Ans. .

Q.15 Do you know anything about NIRMAL BANG Pvt. Ltd.?

a) Yes

b)No


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ANALYSIS OF THE QUESTIONAIRE:

Q.1: In which sector do you work?

SECTOR OF RESPONDENTS

Frequency Percent

Valid

Percent

Cumulative

Percent

GOVERNMENT 20 20.0 20.0 20.0

SELF

EMPLOYED

10 10.0 10.0 30.0

PRIVATE 55 55.0 55.0 85.0

BUSINESS 10 10.0 10.0 95.0

OTHERS 5 5.0 5.0 100.0

Total 100 100.0 100.0


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Inference:From the above graph it has been shown that out of 100 respondents, More than half of

the respondents were working in private sector & the rest of the respondents were apportioned in

different sectors.

Q.2: What is your current Annual Income (in Rs)?

INCOME OF RESPONDENTS

Frequency Percent

Valid

Percent

Cumulative

Percent

200000-

400000

50 50.0 50.0 50.0

400000-

800000

40 40.0 40.0 90.0

ABOVE

800000

10 10.0 10.0 100.0

Total 100 100.0 100.0


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From the above graph it has been shown that out of 100 respondents, half of the respondents i.e.

50% invest less than 10% of their income, 30% fall in the category of 10-25% & 5% of the

respondents invest more than 50% of their income. This shows that peoples working in government

sector would have the tendency to invest more of their income.

Q.4: Please specify the investment pattern.

INVESTMENT PATTERN OF RESPONDENTS

Frequency Percent

Valid

Percent

Cumulative

Percent

SHORT

TERM

10 10.0 10.0 10.0

MID TERM 35 35.0 35.0 45.0

LONG TERM 35 35.0 35.0 80.0

MIX 20 20.0 20.0 100.0

Total 100 100.0 100.0

Inference:


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From the above graph it has been shown that only 10% of the respondents prefer short-term

investments, 35% each respondents prefer mid-term &long term investment pattern and the rest

20% prefer the mixture of all. This shows that around one-third of the respondents done their

investment for the future contingencies.

Q.5: Do you invest in Commodity market?

DO YOU INVEST IN COMMODITY MARKET

Frequency Percent

Valid

Percent

Cumulative

Percent

YES 20 20.0 20.0 20.0

NO 80 80.0 80.0 100.0

Total 100 100.0 100.0

Inference:


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From the above graph, it has been shown that only 20% of the respondents prefer to invest in

commodity market as their investment, this shows the less awareness of the respondents towards

commodity market. Government agencies & NGO should do some seminars/conferences to educate

the investors about commodity market.

Q.6: In which Commodity exchange do you transact?

IN WHICH COMMODITY EXCHANGE DO YOU TRANSACT

Frequency Percent

Valid

Percent

Cumulative

Percent

MCX 20 20.0 100.0 100.0

DO

NOT

INVEST

80 80.0

Total 100 100.0

Inference:

From the above table, it has been shown that out of 100 respondents, only 20% of the investors

invest in commodity market & out of 20 investors who invest in commodity market all of the 20

investors invest in MCX.

Q.7: In which segment did you transact?

IN WHICH SEGMENT DID YOU TRANSACT

Frequency Percent

Valid

Percent

Cumulative

Percent

PRECIOUS

METALS

20 20.0 100.0 100.0

DO NOT INVEST 80 80.0

Total 100 100.0


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Inference:


invest in commodity market & and all the investors invest in only one segment i.e. Precious metals

(Gold, Silver). This is because of the return in the gold & silver future market.

Q.8: Since how long you been investing in commodity market?

HOW LONG YOU BEEN INVESTING IN COMMODITY MARKET

Frequency Percent

Valid

Percent

Cumulative

Percent

LESS THAN 1

YR

5 5.0 25.0 25.0

1-2 YR 5 5.0 25.0 50.0

2-3 YRS 5 5.0 25.0 75.0

ABOVE 3 YRS 5 5.0 25.0 100.0

Total 20 20.0 100.0

DO NOT

INVEST

80 80.0

Total 100 100.0

Inference:


invest in commodity market & out of 20 investors who invest in commodity market, 25% of the

respondents fall in each of the category i.e. 25% of respondents have been investing in commodity

market from less than 1 year, 25% from 1-2 year, 25% from 2-3 year & the rest 25% have been

investing in commodity market from more than 3 years.


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Q.9: Whom do you prefer to deal with while trading in commodity market?

PREFER TO DEAL WHILE DEAL IN COMMODITY MARKET

Frequency Percent

Valid

Percent

Cumulative

Percent

BROKERS 10 10.0 50.0 50.0

ONLIINE 5 5.0 25.0 75.0

SUB

BROKERS

5 5.0 25.0 100.0

Total 0 20.0 100.0

DO NOT

INVEST

80 80.0

Total 100 100.0

Inference:

From the above table, it has been shown that only 20% of the investors invest in commodity market

out of which 50% of the respondents prefer Brokers for their transactions, 25% of the prefer sub

brokers for their transactions & the rest 25% of the respondents have been doing their transactions

by their by their own i.e. Online.


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Q.10: Would you like to invest in commodity market in near future?

WOULD YOU LIKE TO INVEST IN COMMODITY MARKET IN FUTURE

Frequenc

y Percent

Valid

Percent

Cumulative

Percent

YES 10 10.0 12.5 12.5

NO 70 70.0 87.5 100.0

Total 80 80.0 100.0

Already

Investin

g

20 20.0

Total 100 100.0

10

70

20

00

10

20

30

40

50

60

70

80

YES 10%NO 70%Already invested 20%

Would ypu like to invest in commodity

market in near future?

Would ypu like to invest in commodity market in near future?


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CONCLUSION:

After almost two years that commodity trading is finding favor with Indian investors and is been seen

as a separate asset class with good growth opportunities in Gold, Silver Copper etc. For

diversification of portfolio beyond shares, fixed deposits and mutual funds, commodity trading offers

a good option for long-term investors and arbitragers and speculators. And, now, with daily global

volumes in commodity trading touching three times that of equities, trading in commodities cannot be

ignored by Indian investors.

Online commodity exchanges need to restore certain laws governing futures in commodities to make

the markets more attractive. The national multi-commodity exchanges have unitedly proposed to the

government that in view of the growth of the commodities market, foreign institutional investors

should be given the go-ahead to invest in commodity futures in India. Their entry will deepen and

broad base the commodity futures market. As a matter of fact, derivative instruments, such as

futures, can help India become a global trading hub for select commodities.

Commodity trading in India is poised for a big take-off in India on the back of factors like global

economic recovery and increasing demand from China for commodities. Considering the huge

volatility witnessed in the equity markets recently with the Sensex touching 19000 level commodities

could add the required zing to investors' portfolio. Therefore, it won't be long before the market sees

the emergence of a completely redefined set of retail investors in commodity market too.


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RECOMMENDATION:

Keeping in mind the preference and demand of the people in different locations and studying both

channel business model and own branch model and comparing the advantages and disadvantages

of the models I would like to provide some suggestions which may help Nirmal Bang to choose

proper expansion strategy for the growth of its market share in Eastern Region.

Improve the brand awareness of Nirmal Bang by increasing advertisements and promotional

activities like performing campaigning programs. This will improve the brand of NirmalBang

which will help to attract more clients.

Spreading awareness about different types of commodities among the potential buyers would

help them to make them trade in the areas not very popular, thus, encouraging small

investors to enter into commodity market.

Strong database and regular follow- up of it would help them to crate a goodwill among its

existing customers. Organizing investors meet at regular interval would be beneficial for their

business.


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BIBLIOGRAPHY:

For the preparation of project and other required concepts following websites are consulted for the

information

www.nirmalbang.com

www.answers.com

www.businessstandard.com

www.google.com

Following books, magazine and newspapers are also consulted:

1) Business World

2) Business & Economy

3) The Economic Times
http://www.nirmalbang.com/http://www.answers.com/http://www.businessstandard.com/http://www.google.com/http://www.google.com/http://www.businessstandard.com/http://www.answers.com/http://www.nirmalbang.com/


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NAME OF STUDENT- MOHAMMED ASIF

CONTACT NO. 9911007030

E-MAIL [email protected]

ID NO.- D1012FWISBE-A10255(GGN-2B-GA-2038)
mailto:[email protected]:[email protected]:[email protected]:[email protected]

Asif Trend Analysis of Commodity; Copper

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