1

B2B Sales of RapidRupee Software, Nagpur

SIP project report submitted in partial fulfilment of the requirements for the

PGDM Programme

By

Priyanka Tiwari 2013220

Supervisors: 1. Mr. Saurabh Patel

2. Dr. Jitendra Sharma

Institute of Management Technology, Nagpur

2013-15

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Acknowledgement

This work is the outcome of constant encouragement and invaluable guidance of Mr. Saurabh

Patel (Retail-Head, Rupeeseed) who not only acted as a mentor to me but also made me

realize the various aspects of trading and investment solutions and steered me through the

pool of problems.

I would like to thank my supervisor Dr. Jitendra Sharma (Institute of Management

Technology, Nagpur) whose guidance and suggestions helped me in completing this project.

This project has provided me with valuable insights into the practical aspects of the product

and its features.

I hope that Rupeeseed and IMT Nagpur are benefited from the conclusions and

recommendations made by me in this report.

Priyanka Tiwari

2013220

3

Table of Contents

S. No. Title Page Number

1.

Introduction

5

2.

Objective of the study

6

3.

Brief description of the concepts / models introduced in

the study

7

4.

Company Profile

10

5.

Company Analysis

14

6.

Methodology

16

7.

Conclusion

18

8.

Recommendations

19

9.

Limitations of the Study

20

10.

Scope for future improvements

21

11.

Appendices

22

12.

Bibliography

26

4

Introduction

B2B is short for “business to business.” It indicates sales made to other businesses, rather than

sales to individuals. The latter is referred to as “business to consumer” sales. The process by

which businesses employ a multi-layered strategy consisting of web communications, email,

media campaigns, and relationship management for the purpose of converting targeted

business prospects into customers.

B2B sales often take the form of one company selling supplies or components to another.

Wholesalers often sell their products to retailers, who then turn around and sell them to

consumers. Supermarkets are a classic example: they buy food from wholesalers and then sell

it at a slightly higher price to individuals.

Business-to-business sales can also include services. Attorneys who take cases for business

clients, accountant firms that help companies do their taxes, and technical consultants who set

up networks and email are all examples of B2B service providers.The Indian retail brokerage

market is showing phenomenal growth. Though the Indian trading industry has been

consolidating over the past years, the share of top brokers has risen. In this fragmented

market, leading players like ICICI Direct, Kotak Mahindra, Anand Rathi, Sharekhan,

Indiabulls apart from many small players, compete on the basis of low brokerage fees and

customer service.

The major growth drivers for the brokerage houses in terms of revenue and trading volume

are as follows:

i. Continuous fall in brokerage fees.

ii. Adoption of technology- Screen based trading, electronic matching and paperless

securities.

iii. Centralized operations, effective risk management and control on large interconnected

operations scanning multiple locations.

iv. Increasing access to capital and the ability to provide margin finance.

The evolution of exchanges in India in the last few years has led to a big change in

functioning of brokerage companies. Brokerage for both retail and institutional customers

now works in very different ways as compared with the status years ago. Brokerage today is a

keenly competitive industry which can scale up to nationwide operations is a high technology

driven activity and brokerage companies face considerable risks through bankruptcy on the

part of their customers.

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Recent Trends

i. Brokers are downsizing and cutting costs to remain profitable in the new

screen based environment.

ii. Brokers have much less loyalty to one particular exchange.

iii. Large players are getting direct access to the futures markets therefore have

less need for brokers.

iv. There is increasing interest by brokers in harnessing their clearing services to

generate profits from this sector.

v. Micro brokers are growing. This has been through either a large brokerage

service organization providing all administrative services for a number of

smaller brokers or having a small broker buy a complete brokerage facility

through internet and using this service to offer futures trading products.

vi. Futures exchange and stock exchange are merging due to growing competition

and need to get overhead competition costs down.

vii. The old structures of member, membership organization and exchanges are

disappearing. The center of a market is no longer the exchange but the

multitude of dealing screens of brokers and end user‟s dealing rooms.

Objective of the Study

The main objective of this internship was to sell RapidRupee software in Nagpur. As I got in

to B2B sales I was required to build my own pipeline of targets and customers and sell the

machines. There were various other aspects I worked on. I had to identify the scope and future

potential on theRapidRupee. During my internship I also had to tell my mentor the main

reasons which were stopping people from accepting this so there were various barriers I had

to identify and think of ways to overcome them and increase the sales of the Software.

I also had to analyze the Indian retail brokerage industry, taking into account the capital

markets and the intensity of competition among the brokerage houses.

Rupeeseed, being a new entrant in the brokerage industry, is struggling hard to make its mark

in the industry. Although the company is providing various products and services to its

clients, however the company, with the reference of this report, can improve upon its services

which would enable it to compete with the existing as well as well established firms in the

industry.

The Indian brokerage industry is driven by many factors such as decreasing brokerage

charges,more personalized services to the clients, use of technological advances. Since the

brokerage industry is a complete service based industry, hence the report will enable the

company to attract more customers as well as improve their service to attract more

prospective clients in the future.

6

Brief description of the concepts / models introduced in the study

Investment

The money you earn is partly spent and the rest saved for meeting future expenses. Instead of

keeping the savings idle you may like to use savings in order to get return on it in the future.

This is called Investment.

Why invest?

One needs to invest to: earn return on your idle resources

generate a specified sum of money for a specific goal in life

make a provision for an uncertain future

One of the important reasons why one needs to invest wisely is to meet the cost of Inflation.

Inflation is the rate at which the cost of living increases.The cost of living is simply what it costs

to buy the goods and services you need to live. Inflation causes money to lose value because it

will not buy the same amount of a good or a service in the future as it does now or did in the past.

Interest

When we borrow money, we are expected to pay for using it – this is known as Interest. Interest

is an amount charged to the borrower for the privilege of using the lender‟s money.

Various options available for investment

Physical assets like real estate, gold/jewellery, commodities etc.

Financial assets such as fixed deposits with banks, small saving instruments with post

offices, insurance/provident/pension fund etc. or securities market related instruments like

shares, bonds,debentures etc.

Stock Exchange

The Securities Contract (Regulation) Act, 1956 [SCRA] defines „Stock Exchange‟ as anybody of

individuals, whether incorporated or not, constituted for the purpose of assisting, regulating or

controlling the business of buying, selling or dealing in securities. Stock exchange could be a

regional stock exchange whose area of operation/jurisdiction is specified at the time of its

recognition or national exchanges, which are permitted to have nationwide trading since

inception. NSE was incorporated as a national stock exchange.

‘Equity’/Share

Total equity capital of a company is divided into equal units of small denominations, each called

a share. The holders of such shares are members of the company and have voting rights.

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Derivative

Derivative is a product whose value is derived from the value of one or more basic variables,

called underlying. The underlying asset can be equity, index, foreign exchange (forex),

commodity or any other asset.

Index

An Index shows how a specified portfolio of share prices are moving in order to give an

indication of market trends. It is a basket of securities and the average price movement of the

basket of securities indicates the index movement, whether upwards or downwards.

Depository

A depository is like a bank wherein the deposits are securities (viz. shares, debentures, bonds,

government securities, units etc.) in electronic form.

Dematerialization

Dematerialization is the process by which physical certificates of an investor are converted to an

equivalent number of securities in electronic form and credited to the investor‟s account with his

Depository Participant (DP).

Securities

The definition of „Securities‟ as per the Securities Contracts Regulation Act (SCRA), 1956,

includes instruments such as shares, bonds, scrips, stocks or other marketable securities of

similar nature in or of any incorporate company or body corporate, government securities,

derivatives of securities, units of collective investment scheme, interest and rights in securities,

security receipt or any other instruments so declared by the Central Government.

Which are the securities one can invest in?

Shares

Government Securities

Derivative products

Units of Mutual Funds etc., are some of the securities investors in the securities market

can invest in.

Why does Securities Market need Regulators?

The absence of conditions of perfect competition in the securities market makes the role of the

Regulator extremely important. The regulator ensures that the market participants behave in a

desired manner so that securities market continues to be a major source of finance for

corporate and government and the interest of investors are protected.

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Who regulates the Securities Market?

The responsibility for regulating the securities market is shared by Department of Economic

Affairs (DEA), Department of Company Affairs (DCA), Reserve Bank of India (RBI) and

Securities and Exchange Board of India (SEBI).

SEBI and Its role

The Securities and Exchange Board of India (SEBI) is the regulatory authority in India

established under Section 3 of SEBI Act, 1992. SEBI Act,1992 provides for establishment of

Securities and Exchange Board of India (SEBI) with statutory powers for:

(a) protecting the interests of investors in securities

(b) promoting the development of the securities market

(c) regulating the securities market. Its regulatory jurisdiction extends over corporates in the

issuance of capital and transfer of securities, in addition to all intermediaries and persons

associated with securities market.

SEBI has been obligated to perform the aforesaid functions by such measures as it

thinks fit. In particular, it has powers for:

Regulating the business in stock exchanges and any other securities markets

Registering and regulating the working of stock brokers, sub–brokers etc.

Promoting and regulating self-regulatory organizations

Prohibiting fraudulent and unfair trade practices

Calling for information from, undertaking inspection, conducting inquiries and audits

of the stock exchanges, intermediaries, self –regulatory organizations, mutual funds

and other persons associated with the securities market.

Primary Market

A market that issues new securities on an exchange. Companies, governments and other

groups obtain financing through debt or equity based securities. Primary markets are

facilitated by underwriting groups, which consist of investment banks that will set a beginning

price range for a given security and then oversee its sale directly to investors.

Secondary Markets

A market where investors purchase securities or assets from other investors, rather than from

issuing companies themselves. The national exchanges - such as the New York Stock

Exchange and the NASDAQ are secondary markets.

Futures

A financial contract obligating the buyer to purchase an asset (or the seller to sell an asset),

such as a physical commodity or a financial instrument, at a predetermined future date and

price. Futures contracts detail the quality and quantity of the underlying asset; they are

standardized to facilitate trading on a futures exchange. Some futures contracts may call for

physical delivery of the asset, while others are settled in cash. The futures markets are

characterized by the ability to use very high leverage relative to stock markets.

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Options

A financial derivative that represents a contract sold by one party (option writer) to another

party (option holder). The contract offers the buyer the right, but not the obligation, to buy

(call) or sell (put) a security or other financial asset at an agreed-upon price (the strike price)

during a certain period of time or on a specific date (exercise date).

Face Value of a share/debenture

The nominal or stated amount (in Rs.) assigned to a security by the issuer.For shares, it is the

original cost of the stock shown on the certificate; for bonds, it is the amount paid to the

holder at maturity. Also known as par value or simply par. For an equity share, the face value

is usually a very small amount (Rs. 5, Rs. 10) and does not have much bearing on the price of

the share, which may quote higher in the market, at Rs. 100 or Rs. 1000 or any other price.

For a debt security, face value is the amount repaid to the investor when the bond matures.

Premium and Discount in a Security Market

Securities are generally issued in denominations of 5, 10 or 100. This is known as the Face

Value or Par Value of the security as discussed earlier. When a security is sold above its face

value, it is said to be issued at a Premium and if it is sold at less than its face value, then it is

said to be issued at a Discount.

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Company Profile

The company “Rupeeseed” offers all financial products to our clients.

Equity trading

Currency Futures

Interest Rate Futures

Depository Services

Mutual funds

IPO

Rupeeseed offers following products

1) RapidRupee

2) Mobi Rupee

3) RupeeLite

4) Rupeeseed.com

5) Charting and Analysis

RapidRupee

It is an analytics driven trading software. Rapidrupee is a very intuitive and feature rich

trading terminal which gives the real trading edge to you. For the first time in India we

have a trading system which correlates the historical data and the current market data to

show you the real opportunities.

Rapidrupee is meant for well informed traders and dealers. rapidrupee is a new Analytics

driven trading platform meant to give traders and edge. It combines intraday and

historical data and has elaborate charts and technical analysis studies.

With rapidrupee you can view your holdings, trade records, do real time fund transfer and

much more. rapidrupee has a smart live scanner and trend scanner which captures the

opportunities and shows it to the user the very second the event happens. Our users vouch

for the ease and effectiveness of Rapid Rupee.

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There are various features in this software which adds to its value.

Live Scanner

This gives the live idea of the market in the duration selected by the user.

Trend Scanner

This scans the market for symbols showing Bullish and Bearish trends. Users can

select from any of the four Bullish and bearish trends defined in the software.

Resistance& Support Level Symbols Watch

This displays all symbols breaching resistance or support levels. The symbols

move in and out of the watch list dynamically based on defined criteria. It can be

filtered further by an Index or watch list group.

Intra-day Recovery/Fall This tool displays the top20 stocks that have recovered most from the day low and

top20 stocks that have fallen most from day high.

Unusual volume It scans the market for stocks that are trading in the positive or negative territory

with unusually high volumes. Unusual volumes are defined as1.5 times the

average daily trading volume for past14 trading sessions.

Only Buyers& Only Sellers This window displays those stocks that have either only buyers or only sellers.

Heat map

This tool presents a picture of the Market by Sectors based on aggregate Market

cap of symbols in each sector and the average change percentage.

End of day Reports This tool helps the user generate the asked reports about the company market

situation by the end of day.

Resistance& Support Level–Symbols “Resistance and Support” levels of all symbols of the selected watch list

(companies) can be seen in a tabular format.

Watch Lists A Watchlist is a collection of Stocks. It displays the stocks of the selected

companies in the list.

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MobiRupee

Mobirupee is an advanced mobile trading application which is available in Android

as well as BlackBerry. It will be available very soon in Windows mobile and Iphone.

This app provides all the features available in Online Web Platform in your mobile.

You can trade wherever you go. With Mobirupee information and real time quotes as

well as all market news are available on your finger tips.

RupeeLite Rupeelite is meant for those users who want quick access via mobile or desktop.

Rupeelite is also good for places where the internet bandwidth is very slow, even if the

bandwidth is less than 128 KBPS.

It has all the features as in Online web Platform minus the rich colors and images.

Rupeeseed.com www.rupeeseed.com provides the online web platform for easy access of the markets.

The user interface design and the technology architecture has created a very elegant

combination which not only has the rich interface with most easy navigation but also

have a robust and strong technology ensuring a quick access, uptime and stability and

live streaming quotes. This online web platform is highly recommended for the first time

users as it helps the initial users to place their orders in very simple as well as in efficient

manner. The portfolio section then keeps a tab on the amount invested and the total

collection as on date with the money what has been made. All ledger reports and contract

notes are available in one single click. Rupeeseed online web platform has been designed to ensure that you get all the

information whatever is needed by you in the quickest possible manner with minimal

clicks. Our web platform stands apart in terms of simplicity, rich interface and the

relevant info which we provide to our clients.

Charting and Analysis Rupeeseed Trading Platforms provide in-depth technical analysis and studies. Get

historical data in a single click. Our historical data handling ensure that you have

negligible wait time while accessing historical data.

Charts provide a graphical representation of the stock movement during the day. It

allows users to see different types of price and volume charts for the day drawn at an

interval of a minute. Users can select any point on the chart to see the following

values in a small pop-up: Time, open, high, low, close and volume. Advanced charts

support various line studies and technical indicators.

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Making Franchisee

Franchisee is the party in a franchising agreement that is purchasing the right to use a

business's trademarks, associated brands and other proprietary knowledge in order to open a

branch. In addition to paying an annual franchising fee to the underlying company, the

franchisee must also pay a portion of its profits to the franchisor. In a simple term franchisee

are channel partners or sub-brokers. They are one of the key intermediaries which reach out

to investors and advice them on investments. Franchisees are also known as authorized

person. A franchisee can be an individual, Sole proprietorship firm, partnership firm or a

company registered under the companies act. If a franchisee is already registered with some

other broker then on that name a new franchisee account cannot be taken. In such scenarios

ask the franchisee to take sub broker-ship in the name of a family member or partnership

firms.

Types of Franchisees:

Most of the franchisees are traders who trade based on news and information and advice their

clients also to trade. The more the trade, the more the brokerage hence revenue.

Some franchisee act as financial advisors and they do portfolio management for clients. They

diversify the client‟s portfolio and invest across various asset classes.

Some franchisees are big clients who do their own trading and trading for their own group

(family and friends).

There exists a different type of franchisee called master-franchisee. They earn their revenue

by bringing in more franchisees under their network. The sharing for master-franchisee is

different. They are paid not more than30%of the share of commission which the broker earns

from the franchisee under the master-franchisee.

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Company Analysis

Rupeeseed

Rupeeseed is the first online trading system in india available in both English and Hindi. It is

an online share trading platform which is usable by both layman and advanced users.

Rupeeseed primarily focuses to provide qualitative and quantitative features which will assist

them in decision making while share trading. The systematic approach implemented in

Rupeeseed Online share trading software will ensure our clients‟ chances of making profitable

trade. Our simple and concise online software will make your share trading process a different

experience. The online transactions through our website will be highly secured. We have also

implemented online demo pages for the customers to navigate so that they get a clear cut

picture about our online share trading software. Rupeeseed offers trading in NSE Equity, NSE

Derivatives and BSE Equity.

SWOT analysis of Rupeeseed

Strength

Complete shop of investment options

Strong Research Team

Analytics driven trading- no tip or expert opinion required

Indian Exposure of Acumen group

Link with various banks eases performance

Focus on performance

Simple and profitable experience.

Weakness

Low aggression in Marketing activities

Customer care service is not up to the mark

Opportunites

Increasing GDP Growth rate implies more consumption and more money for investment.

Increasing work pressure hence increasing requirements of someone who can manage

investments in a better way

Increasing interest and confidence in Indian Stock Exchange for both domestic as well as

foreign investors.

Government policies are in tune with the growth of financial sector.

Threats

Increasing Competition

Fluctuation of stock market

Recession

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Methodology

Prospecting

Searching for prospects and leads prospecting is an essential part of a sales cycle it is a

separate form of activity and should be focused upon to produce a quality list of

potential buyers to enable to start the sales process. It helps in achieving long term

success in sales. I spent a lot of time in prospecting. My mentor had given me different

regions in Nagpur, which I had to visit. I kept 2 days a week for cold calling my

prospects.

I used various methods to prospect for new clients.

Cold calling via telephone-My mentor assigned me specific regions on a daily basis.

We were targeting sub brokers.

Door to door cold calling –this technique implies calling face-to-face for the first time

without an appointment at Offices. In essence cold calling is the art of approaching

someone, professionally, openly and meaningfully, with a sensible proposition. I went

directly to companies without any prior appointment at times. A lot of times I couldn‟t

get through the sub brokers on the phone because of which I had to go meet them and

the other times we walked in straight and spoke to them. If the meeting went right they

would agree to meet me again. This helped me in building stronger relationships.

Asking for referrals – Sub-brokers, who were interested in buying Rapid Rupee,

would recommend this to their sub broker friends. Some strong leads were generated

through these referrals.

The prospecting method used was quiet simple. A study suggests that you have 18

seconds to capture someone‟s attention and an additional 100 seconds to convince them

why they should continue a conversation or schedule a follow-up call or meeting. I was

trained by Rupeeseed manager about the software and my mentor explained me a few

questions the customers generally ask. So when I met a prospect I would give them a brief

company introduction and then tell them about why they should shift to RapidRupee and

explain them the features of the same. I used various mediums to contact them and keep in

touch mostly it included via telephone, email and visiting them personally.

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Targeting

Deciding how to allocate their time between prospects and customers.

As we had broadly decided on Sub brokers , our target market was really clear. I

started with targeting all big sub brokers but I soon realized that they had already

purchased other softwares and are unwilling to change. This gave me an idea of

another target customers I could approach these being the new sub brokers coming up.

Communicating

Communicating information about the company‟s product and services.

The various mediums used by me helped in staying in touch with my potential target

throughout. I was meeting potential customers on a daily basis. I used to call the

targets that showed interest in the software on a regular basis to remind them about our

product. To make them understand our product in the best possible way we used to

demonstrate the working of the software in front of them and make a demo account for

them which was free of cost and active for seven days so that they can themselves

access it and check for themselves.

Selling

There are various steps involved in a successful selling process. Such as approaching,

presenting, answering questions, overcoming objections and closing sales through out

the internship this step was of at most importance. This software is a bit expensive so

clients were a little apprehensive of purchasing it. My selling approach was

methodological. My mentor helped me with this. I used to first approach the respective

clients and then there was product presentation. Product presentation basically meant

explaining the product its features, benefits and needs. The prospects always had a lot

of questions about its working process and the technology involved in it. I had to be

very thorough with my knowledge of the same. There were always a lot of

negotiations on the final price of the Software.

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Conclusion

The SIP done by me at Rupeeseed has been a great learning experience. Working as a B2B

sales person has given me an insight into the marketing of an organization.

Following are few of my observations:

While doing the sales job, many were not aware of Rupeeseed brand and its services.

Investors are showing a greater inclination towards investment in the capital markets either

individually or through mutual funds. They perceive mutual funds as less risky because of

their professional managers.

Many investors want to invest in capital markets but they don‟t have time to keep a check on

their portfolio all the time. This is where Rupeeseed can help as you don‟t have to check on it

all the time and can set buy and sell price as per your wish.

This SIP was very helpful in learning the deep insights and concepts of financial markets. The

knowledge I gathered helped me to advice my clients in a better way

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Recommendations

Here are some important recommendations and suggestions to the organization based on the

experience gained by me. I hope organization finds it useful.

Brokerage

This is considered as one of the most important factors that drives the brokerage industry.

During meeting with the sub brokers it was realized that the brokerage rate is a little high from

few others. .Rupeeseed being a new entrant in the industry must reduce it to attract more

clients.

Promotion

This has become a very important mantra for the success of any business. Rupeeseed

has not promoted its products as other firms do because of which awareness is not

there and attracting new customers is much more difficult.

Print Media, Electronic Media etc can be easily used for the promotion purposes.

New Schemes

Though the degree of differentiation in these products is low in this industry, so

Rupeeseed can attract new customers by introducing new and innovative schemes like

targeting housewives who have a substantial amount of saving and want to spend

somewhere to get good returns. Schemes targeted to college students as well as small

shopkeepers can give Rupeeseed an edge over others.

Corporate Tie-ups

The organization can focus on more and more corporate tie-ups and employees of

those organizations can be targeted. This helps the company in building good

relationship with their employees, our organization in generating business and the

employees will get services at their doorstep without any effort.

Knowledge Workshops

Relationship managers have direct contact with the investor and it is them who

recommend them to invest in a particular way. It is very important that they should

have proper knowledge about the market, various investment options in full detail. So,

it is recommended that the company can have knowledge workshops every weekend

to build the knowledge and exposure of the relationship manager.

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Limitations

Stated below are the limitations of the project taken up by me.

Time Limit

The time available for the project was just 2 months and this field is too vast. There

are so many stocks, Mutual funds, policies, real estate etc. to study and number of sub

brokers to visit in this duration which was very difficult to convert and give services in

this duration.

Fluctuations

At the time of my SIP, market was fluctuating a lot because of which sub brokers were

very apprehensive of buying this software as well as were de-motivating me for trying

to sell it.

Acceptability

The software is not easily accepted as Rupeeseed being a late entrant although better

than many other softwares, was poorly accepted because sub brokers were already

satisfied with the existing software they had.

Lack of Decision Making power

Maximum sub brokers in Nagpur area are representatives of big firms around. They

don‟t have the power of decision making for the company to change software or make

franchisee. Even though they liked the product, they recommended it to their friends

but could not buy it.

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Scope for future improvements

In the Indian retail brokerage industry, the regulatory framework and investing guidelines

have been clearly stated by SEBI. The brokerage firms compete with each other on the basis

of few factors such as

Brokerage Charges

Technological Advances

Providing personalized services to the clients etc.

However, some other factors remain uncovered.

Greatness of Research data

Clients still have not been able to fully trust the tips given by the research

development of Rupeeseed. While interacting with them I found out that they won‟t

trust one single analytics for all the components involved. This can b improved by

giving the best in every field in a single platform.

Number of Branches in the Country

The increase in number of outlets across the country would give rise to high brand

recognition and also creation of brand equity. Since the company is a new entrant, it is

very important for the company to promote its products and services, as well as

increase its brand awareness.

Gearing towards frequent visitor

The main stress of business at the present stage is concentrating on the number of

accounts of the existing clients. However many of them may not be active. Thus more

emphasis should be laid in future on concentrating on frequent investors and also

reactivating off dead accounts lying with the office.

21

Appendices

Sr.

No. Name Contact

1 SMART SECURITIES 9326276993

2 ADARSHSHRANI HAREMAHENDRA HARU

9226446904/0712-

3256272

3 BONANZA PORTFOLIO LTD. 0712-2520467

4 KOTAK SECURITIES LTD. 9823142786

5 AKSHAY JAISWAL 9766616677

6 KAPIL GANDHI 9833513534

7 SMC GLOBAL SECURITIES 1130111000

8 NIRMAL BANG SECURITIES PVT. LTD. 9373703106

9 PRASENJIT BHOYAR 9373283158

10 DIGVIJAY SHARADRAO DAWARE 0712-2750455

11 PRABHAT FINANCIAL SERVICES LTD. 0712 2560197

12 JYOTI SANDEEP BURDE 9823705636

13 KALYAN KESHAV KHANORKAR 0712-2702839

14 RADHIKA RAMAN SENAD 0712 2751623

15 KALYAN KESHAV KHANORKAR 0712-2702839

16 KAPIL RAMKRISHNA RAUT 9372799659

17 NIKHIL KHANDELWAL 7755090242

18 SHAILESH NAGORAO TAMBDE 9890091503

19 MERCHANTILE INVESTMENTS AND FINANCIAL SERVICES 9822226103

20 PRATIBHA SUJEET DEULKAR 9422145147

21 RAHUL WAMANRAO BORKAR 0712-3195566

22 ROSHNI R PUND 7123221812

23 MR. SUNIL RAMBHAUJI MASURKAR 7122741679

24 DILIP HIRALAL PANCHOLI 9373217100

25 SUMTEE INVESTMENTS 0712-6611175

26 MRS. MADHU AMARLAL CHHATWANI 0712 2421266

27 SACHIN AMBADASJI BAJAJ 0712-2565566

28 KAPIL RAMKRISHNA RAUT 9372799659

29 SATISH BORA 9326201565

30 DIPAK P BHOYAR 0712-2242734

31 SWASTIKA INVESTMART LIMITED 94221-01224

32 RAJEEV GUPTA 0712-2551185

33 GOPAL WANKHEDE 0712-5603583, 5612169

34 DILIP HIRALAL PANCHOLI 9373217100

35 ANAND PATEL 9850324917

36 PANKAJ JAYANTILAL SHAH 9822220398

37 PANKAJ MANOJ TANK 9422148644

38 PRAKASH NANALAL VARMA (0712)763382,770351

39 CHANDRA KUMAR SONI 0712-2766409

40 VIPUL TANNA 9730033922

41 ARTI ASHOK BARDIA 9422807689

42 ANAND OMPRAKASH AGRAWAL 7122680490

43 HITESH B PATEL 0712-2720660

22

44 GAURAV TANK 9422103455

45 HEENA JAGDISH TANK 7122762753

46 BHARAT J KARWA 0712-2734081

47 SANGEETA MANIYAR 0712-734463

48 CHANDMAL SURANA 9326945155

49 ABHILASHA AGRAWAL 9822225968

50 HIREN VINOD DHOLAKIA 0712-2767426

51 KAPIL SURESH THAKKAR 0712-2764021

52 ADITYA SHARE MARKET TRADING 9860618191

53 Dr. ATIQUEE

54 S.P.BROKERAGES PVT LTD 7122539298

55 FORTUNE EQUITY BROKERS (INDIA) LIMITED (RAJESH N KABRA) 760592

56 ANAND RATHI SHARE AND STOCK BROKERS LIMITED

57 SHAREKHAN LTD. (Gopal Wankhede) 5603583, 5612169

58 SHREENIDHI SECURITIES AND FINANCIAL SERVICES 0712-2546165

59 KIFS SECURITIES LIMITED 0712-2630879

60 MANISH C TAORI 0712 3290772

61 ALI ASAD LAKADSHAH 0712-2774282

62 MONIK SATISH GANGAR 0712-2737237

63 PUNAMCHAND B. SONI 0712 - 2764064

64 GOVIND DWARKADAS BAJAJ 9823370455

65 MRS. SONAL LAKHOTIYA 94221220668

66 SANDEEP PURUSHOTTAM TAORI 7122738385

67 GIANT ALLIED INVESTMENTS 9822573363, 93267498

68 RASHMI DEOLASI 0712-2737570

69 PRASHANT DASHRATHBHAI MEHTA 0712-2723590

70 BHARAT J SONI 9890127122

71 RAM INVESTMENTS 9860413678

72 RAVINDRA NILKANTH SANKRA 9822361077

73 RAMPRAKASH BEHARIDAS KHANDELWAL 0712-2723179

74 MR.ASHISH SHYAMSUNDER MAHESHWARI 9881246460

75 BIMAL MADNANI 9370173145

76 BHUSHAN NARAYANRAO DOYJAL 0712-2752301

77 SANGEETA GIRISH PUROHIT 9422444447

78 SPECTRUM CAPITAL SERVICES 7123018180

79 DEEPAK R SANGANI 9823814564

80 SHAUNAK POHANKAR FINANCIAL SERVICES

81 NARENDRA P TAMBE 6501659/ 2426188

82 PANKAJ PREM BHAVNANI 7122766033

83 CHHAYA TAORI 2722360, 2725764

84 KAPIL SURESH THAKKAR 0712-2764021

85 ARUN RAMKRISHNA PIMPALWAR 3091304

86 ANIL MUKUNDRAO SHAHANE 0712-2566859

87 PRATEEK PRAMOD BAGDI 9370777750

88 NAVNEET SURESH JAIN 9822225808

89

TARUN S JAIN, NAVNEET S JAIN, KAMLESH S JAIN, POOJA T JAIN,

ARCHANA N JAIN 544538, 545184

90 ANUJ S BADJATE (0712) 521142, 532900

91 PRASHANT ARUN PIMPALWAR 0712-537547, 530169

23

92 SUNITA AVINASH VAIDYA 2223082

93 KIRAN P PANDYA 0712-3293334

94 NADIM SARFRAZ HUSAIN 2776348

95 VASANT S KAKIRWAR 0712-2553745,7553

96 PRADEEP JAJOO 0712 529743

97 SACHIN PILLAI 8888697910

98 GOKUL NIRANJANE 0712-2224480

99 SHAILESH NAGORAO TAMBDE 9890091503

100 PRAMOD BAGDI

2721963, 2723487,

3107345

101 KANIKA SANDEEP MALU 0712-2760311

102 VIPUL TANNA 9730033922

103 DILIP KUMAR SARAF 2434830

104 MAHESH AGARWAL 531513,524638, 553346

105 PRASANNA IYER 9892367318

106 NIRANJAN S HARKARE 9422808101

107 KASHINATH WADGUJI BHASME 3096372

108 ALPESH PARATE 9420956767

109 G. VENKATAKRISHNAN IYER 521366 / 522323

110 RAJEEV GUPTA / SAMIKSHA BAGDIA 0712 - 535 068

111 LATIN MANHARLAL SECURITIES 3295444

112 ICICI DIRECT.COM 9881146336

113 NETWORTH STOCK BROKING -

114 AMIT RAJANKAR 9764002501

115 RAHUL INVESTMENTS -

116 MORESH SAOJI 0712-2239850

117 MITESH MADHUKAR JOSHI

118 GAUTAM SATISH KALE,KARTIK PRAFULLA KALE 2523154

119 JAWAHAR VASANI 561150-55614341

120 BIMAL MADNANI 9370173145

121 SUCHITA RAHUL DESHMUKH 2249711

122 SUMAN JITENDRA SETHIA 0712 – 3252575

123 SHIV RATAN DAGA 2532018

124 RAVI KUMAR MUNDRA 2779195

125 RAKHEE ASHISH KHEMUKA 2567250

126 SUSHIL PARAKH / NIRMALA SURANA / SUNITA SURANA 712 525 584

127 RH CAPITAL SERVICES PVT LTD 0712 2592543

128 ANAND RATHI 3105812

129 ISE SECURITIES AND SERVICES 7122764101

130 SHAREKHAN

131 Anagram Capital

132 Bimal Online Services

133 Arcadia Tradings

134 Ishika Commodity and Security

135 Shailendra Singh

136 Apolo sindhoori

137 NITIN BABAN YATKARLEWAR 9325106585

138 SHAILESH DEVENDRA PALIYE 07116-244017

139 PRAVIN KRISHNARAO GIRADKAR 0712-3291502

24

140 VAISHALI PRASHANT WAGH 0712- 2715501

141 PURUSHOTTAM KAMLAKARRAO SUBHEDAR 07116-244356

142 SAMIT THAKKAR 5640655

143 NARESH RAVINDRA KAHATE 9422826263

144 PRIYA AJIT PENDHARKAR 9890140055

145 MANOJ KUMAR KUMAWAT 9214357174

146 PRASAD P AGNIHOTRI 0712-6456826

147 MANJUSHA YOGESH KAKDE 0712-2720298

148 KAMAL BHAGWANDAS THAWRANI 0712-2769763

149 RAKESH PUNAMCHAND GANDHI 0712 – 2727668

150 MANISH JAIS 2729395

151 MITESH MADHUKAR JOSHI -

152 KRIPA SECURITIES -

153 JYOTI KHONDE 9923353168

154 RADHA RAJESH JOSHI 0712 2227755

155 NILESH ANIL SOMAN 9766332109

156 ANJALI VINAYAK JOSHI 0712 2246911

157 PANKAJ BAGORA 7126601876

158 PALKI TAHILIANI 5605821

159 NIRAJ R KALE 9960298636

160 DHAWAL BHARAT RAJA 9890815238

161 KAUSTUBH ARUN BEDEKAR 440015

162 NEELESH PADMAKAR BOROLE 2244169

163 MI INVESTMENTS,VEEBEE FINANCIAL SOLUTIONS 0712-2240280

164 MR.NITIN DEVENDRA DHOTE 0712-257286

165 MUKESH KOTHARI 9096516394

166 CHHAYA TAORI 937022360

167 SONAL PARAG KELA 0712 2723789

168 ASHISH SANTOSH BABHULKAR -

169 ABHISHEK OMPRAKASH AGRAWAL 9326712342

170 DINESH KHATOR 204016

171 ASHISH SANTOSH BABHULKAR -

172 HEMLATA S. MEHATA 222120

173 AMARDEEP TUKARAM NINAWE 7184-250539

174 SNEHAL D MOTGHARE 9881246460

175 MR.ASHISH SHYAMSUNDER MAHESHWARI 9881246460

176 PRITI SOPAN BAGHE 9422119806

177 SARAL S SONKULE 9665010818

178 MR.ASHISH SHYAMSUNDER MAHESHWARI 9881246460

179 ANJALI KOTANGALE 9422115457

180 JYOTI RAJESH BANSOD 7122241404

181 SATISH N RATHI 9404951451

182 DHARMESH N THAKKAR 7114255320

183 TIKESHWAR GHOTEKAR 9422818219

184 ASHWINIKUMAR 0712-2703288

185 MOHD NAWAZ 9225988156

186 NARESH RAVINDRA KAHATE 9422826263

187 AJAY R SAMRIT 0712-2571128

188 RAMPRAKASH BEHARIDAS KHANDELWAL 0712-2723179

25

Bibliography and Reference

1) Handbook for NSDL Depository operations module and basic concepts.

2) www.rupeeseed.com

3) www.investopedia.com

4) www.google.com

5) Personal Interaction with Mr. Saurabh Patel.(Retail head, Rupeeseed)

6) Rupeeseed Brochure